Friday, 2nd June 2006 (2421 views)

Swedish outfit Lappland Goldminers has agreed to sell a gold prospect site to a Canadian mineral exploration firm.

Vancouver-based Northern Lion will buy 100 per cent of the Nynasberget site, in central Sweden from Lappland.

The deal will see Northern Lion pay Lappland some 1,018,667 common shares at around 29 pence per share over a two-year period, after which the Canadian firm will have the option to buy or place the shares if Lappland chooses to sell all or part of them.

The Nynasberget site is found in Ragunda County, in the Jamtland area of the country, some 200 kilometres from Lappland Goldminers' Faboliden project and around 400 kilometres north of Stockholm.

Northern Lion has a number of gold prospects throughout the globe, including the Haveri site in Finland.

The firm has recently been granted permission to begin explorations of the Iberian Pyrite Belt, in southern Portugal.

 

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