Galane Gold Ltd has announced that B2Gold Corp. has provided notice that it is terminating the earn-in option agreement relating to certain of Mupane’s exploration properties in Botswana.
B2Gold had last year committed to the second stage of the earn-in to a package around Galane’s Mupane gold mine.
However Galane CEO Nick Brodie said this week while B2Gold had identified several targets, none met its size criteria, although they “could represent significant targets” for Galane.
“B2Gold has identified several targets from their exploration work, none of which meet the size criteria for B2Gold, but all of which could represent significant targets for Galane Gold. Once we have had time to digest all the information that they have created, we will prioritise each of the targets and we expect to put our exploration programme together to progress them.” He said.
“In the context of a much higher gold price and greatly improved position for Galane Gold since we originally entered into this option agreement, we are very excited to pursue these opportunities directly as we continue to develop Mupane’s long term plans.”
Mupane had produced 5,691 ounces of gold in the June quarter, despite 50 days of disruption due to COVID-19 restrictions.