Gammon Lake purchases Bolnisi Gold's 60% interest in the Ocampo Joint Venture area and now owns 100% of the entire district
Thursday November 6, 1:45 pm ET
DARTMOUTH, NS, Nov. 6 /PRNewswire-FirstCall/ - Gammon Lake Resources Inc. (TSX: GAM - News; AMEX: GRS - News) is pleased to announce that it has reached an agreement to terminate the "Earn-In Agreement" by which Bolnisi Gold had a right to acquire a 60%-interest in the Ocampo Joint Venture area. Upon Bolnisi Gold delivering to Gammon all final feasibility data, Gammon will pay US $5-million to terminate.
Gammon Lake intends to move forward rapidly with final feasibility and development of the entire Ocampo district, exploiting the advantages of one combined mining operation in the district.
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