Golden Regent Resources Ltd. Announces Joint Venture Partnership with Calgary Company

Strategic Insights -

Golden Regent Resources Ltd., a leading exploration company, has announced a joint venture partnership with a private Calgary company to explore their Slovakian properties. This partnership marks a significant milestone in Golden Regent's efforts to extract gold from their Slovakian assets, which have shown promising results in the past year. The joint venture will provide Golden Regent with the necessary funding to further explore and develop their properties, potentially yielding significant returns.

Key Takeaways:

  • The joint venture partnership will allow Golden Regent to explore and develop their Slovakian properties, with the Calgary company providing $730,000 for exploration and $130,000 for Golden Regent's treasury.
  • The joint venture partner will earn a 15% interest in Golden Regent's interest in all 7 permits, with the option to continue funding work and acquire 1,000,000 treasury shares of Golden Regent through a private placement.
  • The joint venture will focus on exploring the Cinobana, Kratke, and Prochot properties, which have shown promising gold values and strike potential.
  • The Calgary company will provide financial support to Golden Regent, enabling the company to continue its exploration activities in 1995.
  • The partnership will be directed by Mr. Jim McDougall, P. Geol. of Vancouver, who will help oversee the exploration activities.
  • Golden Regent has expended over $500,000 exploring their Slovakian properties in the past year, with the discovery of eight areas of mineralization showing promising gold values.

Statistics:

  • Total exploration expenditure by Golden Regent in the past year: $500,000
  • Total funding provided by the Calgary company: $730,000 (exploration) + $130,000 (treasury) = $860,000
  • Total earnings requirement for the joint venture partner: $660,000 per permit
  • Gold values at the Cinobana property: up to 0.20 oz per ton
  • Gold values at the Kratke prospect: 0.50 to 0.60 oz per ton
  • Gold values at Prochot: 0.25 oz per ton at surface
  • Number of exploration permits controlled by Golden Regent: 7
  • Number of gold values assayed: 8
  • Total treasury shares available for private placement: 1,000,000

Sources:

  • GOLDEN REGENT RESOURCES LTD. (April 5, 1995) - BUSINESS WIRE
  • Golden Regent Resources Ltd. (press release, April 5, 1995)