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Gammon Gold Announces the Strategic Option of the La Bandera Project Located in Durango Mexico
Gammon Gold Announces the Strategic Option of the La Bandera Project Located in Durango Mexico
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\n\n\n\n Dec. 16, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nTSX: GAM / NYSE: GRS / BSX: GL7\n\nTORONTO, Dec. 16 /CNW/ - Gammon Gold Inc. ("Gammon") (TSX:GAM and NYSE:GRS): Gammon is pleased to announce that the Company has entered into binding Letter of Intent ("LOI") with Aurion Resources Ltd. wherein both parties agree to negotiate a definitive agreement that will provide Gammon with an option to earn up to a 70% joint venture interest in the 12,985 hectare La Bandera Project located in Durango, Mexico. Under the terms defined in the Letter of Intent, Gammon will have the option to earn its interest through a $250,000 private placement in Aurion and a series of escalating work commitments.\nThe La Bandera project is a low-sulphidation, epithermal gold-silver system located approximately 120 kilometres north-northwest of Durango City, in Durango State. Exploration targets are primarily high grade gold-silver veins, stockwork and breccias associated with favourable structural sites along the regionally extensive La Bandera fault system. La Bandera is host to a more than 20 kilometre long, 40 to 150 metre-wide, epithermal gold vein system that is believed to cover the uppermost portions of the system. Despite this high-level expression, of 2,245 rock samples collected by Aurion and predecessors, 19% of the samples have more than 0.10 grams per tonne gold and 3% contain more than 1.0 grams per tonne gold.\n"We are pleased to enter into this agreement ...