Canadian miner Centerra Gold will be exploring the Oakley gold/silver project in the US, with the eventual aim to take a 70% interest in the prospect, which is located just north of the Idaho-Utah state border in Cassia county.
TSX-V-listed Otis Gold, which is being bought out by Excellon Resources, on Monday announced that it had executed an agreement with Centerra.
In terms of the agreement, Centerra would be spending $7-million on exploration and making cash payments of $550 000 over a six-year period.