Tuesday, 1st February 2005 (2425 views)

Galaxy Minerals has revealed it is in negotiations for a possible joint venture agreement at the Cleopatra Gold Project.

The site is rumoured to contain a possible reserve of 50 million tonnes of gold.

Galaxy Minerals president and CEO, Matthew Symonds, commented: "We are in the final stages of due-diligence, relating to the project, according to the AZDM and the available information we have, the Cleopatra Gold Project could be a massive disseminated gold deposit contained in over approximately 5000 acres of land."

Mohave County in Arizona, where the site is based, is one of the richest counties for past mineral production.

In the past the county was associated with gold production in various gold mines and gold deposits.

Mr Symonds explained that the company hopes to inform its shareholders shortly on how current negotiations have gone.

Galaxy is based in Chicago and is focused on mining and mining exploration.

 

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