EcuaGold Resources reports its subsidiary, ColombiaGold Resources S.A. has signed a LOI to enter a JV in Colombia.

CGR signed a 90-day Exclusivity Agreement with the Concessionaires in June 2008, and based on work done to date, CGR has identified seven mesothermal quartz veins on the Santa Cruz concession and six mesothermal quartz veins on the Palmichala concession. CGR has also identified several other potential veins on the Concessions, which need to be further investigated. The veins and associated structures are distributed in a sub-parallel pattern, with 50 – 100 metre spacings. The strike potential of several of the vein systems is believed to be +/- 1.0 kilometre.

EcuaGold’s President and CEO, Mr. Anthony F. Ciali states:

“We are very pleased to have entered into our first agreement to acquire mineral property interests in Colombia and, in particular, in one of the country’s most historic and prolific gold producing regions. With its Medellin-based geological team, CGR is actively investigating other potential mineral properties and regions for future acquisitions. EcuaGold is also aggressively pursuing mineral property interests in Peru. We are encouraged by the number and quality of available Peruvian prospects under investigation that meet with the Company’s exploration growth strategy.”

For full details of this press release, click this link. Gold Investing News researchers discovered EcuaGold’s Colombian project described on their website. Follow developments in gold mining and exploration for free.
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