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Cliffmont Signs Purchase Agreement for the 100% Acquisition of the San Luis Gold Project, Colombia
VANCOUVER, Jan. 4, 2012 /CNW/ - Cliffmont Resources Ltd. (TSX-V - CMO) ("Cliffmont" or the...
About this update from Cliffmont Resources Ltd.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Jan. 4, 2012 /CNW/ - Cliffmont Resources Ltd. (TSX-V - CMO) (\"Cliffmont\" or the \"Company\") announces an update to its news release on October 3, 2011 regarding the\n acquisition of a 100% interest in a property in Colombia. In October\n the Company finalized a Letter of Intent (LOI) and  has now entered\n into a definitive Purchase Agreement for the acquisition of an 100%\n interest in the San Luis Property (\"the Project\") consisting of one\n granted mineral contract totalling 2,623 hectares, located in the\n Department of Huila, Colombia. The Company will acquire all the shares\n of Tarana Resources S.A. (Panama) (\"Tarana\") which owns 100% of the\n shares of Sociedad Del Alto S.A.S. (Colombia) (\"Del Alto\"), a private\n Colombian company duly established and registered at the Chamber of\n Commerce of Bogotá D.C., and which holds the San Luis property.\n\n\nThe San Luis Project encompasses multiple epithermal gold and silver\n targets. Given the strong potential at the San Luis Project, the\n Company plans to focus its efforts on further defining the extents of\n known epithermal structures as well as identifying and following up on\n other mineralization recently discovered. Over the past few years,\n approximately $1.5 million was spent on geochemical sampling, mapping\n and geophysics focusing on the Project's epithermal potential.\n\n\n\"We are very pleased to have identified a project of this significant\n potential in what we feel is one of the more prolific, underdeveloped\n jurisdictions in Colombia,\" said Cliffmont Resources President and CEO\n Jeff Tindale. \"Cliffmont has been in Colombia for over a year\n evaluating several projects and building a strong social, environmental\n and technical team. We are now ready to move the San Luis project\n aggressively forward.\"\n\n\nSummary of the San Luis Project\n\n\nThe San Luis Gold Project (2,623 Ha) is located in the Department of\n Huila, Colombia, approximately 80 kilometres NW of the capital city,\n Neiva. The approximate driving time between Neiva and the Project is\n 2.5 hours. The San Luis Project has established infrastructure,\n including road access, power and water and is located on the Eastern\n flank of the Central Cordillera at a relatively low altitude ranging\n from 1,400 metres to 2,100 metres...