- Sylla Gold Corp. (SYG) has entered into two letters of intent (LOI) to acquire 100 per cent of the Samaya South and Niaouleni West gold exploration permits
- Both are located contiguously northwest and west of Sylla Gold’s Niaouleni Gold Project
- The Samaya South and Niaouleni West exploration permits comprise 2,500 hectares and 3,200 hectares, respectively
- They represent a 60 per cent expansion of the company’s licence holdings in the area
- Sylla Gold Corp is an exploration-stage company involved in the business of acquiring, exploring, and developing mineral properties
- Sylla Gold Corp. share price remained unchanged at $0.18 at 1:36 PM ET
Sylla Gold (SYG) has signed two LOIs providing Sylla with the option to earn 100 per cent of the Samaya South and Niaouleni West gold exploration permits.
Both sites are located contiguously northwest and west of the company’s Niaouleni Gold Project.
The Samaya South and Niaouleni West exploration permits comprise 2,500 hectares and 3,200 hectares, respectively and represent a 60 per cent expansion of the company’s licence holdings in the area for a total of 15,100 hectares.
“We have always considered Samaya South and Niaouleni West to be crucial pieces of the larger Niaouleni regional land package and feel these acquisitions are a significant milestone in the development of the Niaouleni Project,” said Regan Isenor, President and CEO of Sylla Gold.
“With Niaouleni West the company secures an additional 2km strike length of the Kobada structure, represented by strong gold geochemical anomalies along strike, and in Samaya South, extensive artisanal workings and surface showings indicate the potential for the development of high priority targets in an area that has seen very little modern exploration,” he added.
The Niaouleni Project is 9,400 hectares in size and accessible by paved highway and includes extensive artisanal mining activity within the interpreted extensions of gold-bearing structures.
The company has also appointed Mark McMurdie as chief financial officer of Sylla Gold. McMurdie has over 30 years of senior leadership experience in public and private companies.
Also in line with the company’s stock option plan, it has granted a total of 3,075,000 stock options to directors, officers, and consultants of the company. The options have an exercise price of $0.20 per common share and are valid for a period of five years and expire on May 9, 2027.
Sylla Gold Corp is an exploration-stage company involved in the business of acquiring, exploring, and developing mineral properties.
Sylla Gold Corp.’s share price remained unchanged at $0.18 at 1:36 PM ET.