Arianne Acquires the 50% Interest of Vantex Resources in the Black Dog and Penaroya-Brouillan Propertiesadmin
The management of Arianne Resources Inc. announce the purchase of the 50 % interest owned by Vantex Resources Ltd., in the Black Dog and Penaroya-Brouillan properties. The initial 50 % interest purchase was announced on May 15 and August 26, 2006. Following today’s transaction, Arianne owns 100 % of these 2 properties.
The terms of the deal specify that Arianne acquires 100% of Vantex 23 cells from the Black Dog property as well as Vantex 11 cells of the Penaroya-Brouillan property,in exchange of 300,000 common shares of Arianne. Vantex keeps a 1.5 % NSR.
The Black Dog property is polymetalic and comprises 117 cells covering an area of 6,200 hectares located south of the Opinaca reservoir, in Quebec. The Penaroya-Brouillan property comprises 11 claims located south of the Massicotte project, owned by Arianne, 15 km east of the Detour Lake Mine.
Arianne Resources is a Canadian exploration company with the primary mission to explore, find and develop gold, phosphorus and uranium deposits in Canada and Mexico.