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Friday, 3rd December 2004 (4007 views)

Canada's Solitario Resources has announced that Newmont Mining is set to begin drilling Solitario's La Tola gold project in Southern Peru next week.<br/><br/>As part of the drilling, the firm plans to make 13 reverse circulation drill holes, which will target six key areas initially.<br/><br/>The property is 11,030 hectares in size and is an early stage gold exploration project in the increasingly emerging southern Peru gold belt.<br/><br/>Solitario first identified and obtained the property near the end of 2003 and it has a full 100 per cent ownership of the site.<br/><br/>However, Newmont can earn a 51 per cent interest in the site by spending $7 million on development and exploration work over four years.<br/><br/>The mining firm, which is listed on the Toronto Stock Exchange, is a gold, platinum-palladium, and base metal exploration company and it actively explores in Peru and Brazil.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7227451"/>

 

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