Canada\u2019s Chilean Metals (TSXV: CMX) signed a C$4.5 million funding term sheet for the creation of a joint venture vehicle with Australia\u2019s Aura Energy (ASX: AEE, AIM: AURA) for its gold, base and battery metal tenements in Mauritania.<\/p>\n
In a press release, the companies explained that the transaction will see Aura progressively sell its licences in the West African country into a joint venture vehicle (PubCo) with Chilean contributing four scheduled payments before October 2021.<\/p>\n The transaction will see Aura progressively sell its licences in the West African country into a joint venture vehicle<\/p>\n<\/blockquote>\n<\/figure>\n At that time, Aura will own 50% of the vehicle and Chilean will own 50%. Aura will also receive 1 million shares in Chilean Metals as part of the transaction, subject to TSX Venture Exchange approval.<\/p>\n According to the miners, Aura\u2019s Tasiast South tenements over 435 square kilometres are in a highly prospective area lying on two lightly explored mineralized greenstone belts in Mauritania. The areas lie along strike from Kinross\u2019 giant +20 Moz Tasiast gold mine, where Kinross has recently announced that it will expand gold production to 530,000 ounces per year.<\/p>\n Aura maintains that these tenements, also with strong base and battery metal results, represent some of the best under-explored greenstone belt targets in the world.<\/p>\n \u201cThis substantial funding package from a group of seasoned resource investors\/developers will help reveal their [the tenements] true potential,\u201d Aura Energy executive chairman, Peter Reeve, said in the media brief. \u201cWith the Tasiast gold mine (+400,000 ozs pa) on the same belt just north of our project, the potential for discoveries is, in the eyes of our technical people, very conceivable.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Chilean Metals and Aura Energy have agreed on a joint venture to explore the Tasiast South tenements in the West African country.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1194498"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1194498"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1194498\/revisions"}],"predecessor-version":[{"id":1194599,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1194498\/revisions\/1194599"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1194498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1194498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1194498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n