Triple Plate signs deal with Newmont Exploration

13th Mar 2014 10:26

Triple Plate Junction (TPJ) has signed a licence agreement with Newmont Exploration, a subsidiary of Newmont Mining Corporation, granting it access to various Newmont exploration activities. The database covers activities in Myanmar (formerly known as Burma), Lao PDR, Malaysia, Indonesia and Cambodia. The licence agreement is for an initial term of two years and may be extended. Under the agreement, TPJ will also utilise Newmont's proprietary Bulk Leach Extractable Gold (BLEG) technology and a limited number of TPJ's BLEG samples will be processed in Newmont's laboratory in Australia. For its part, TPJ will pay the costs associated with processing the BLEG samples and will grant to Newmont a 1% net smelter royalty over any property with a certified resource of 1m or more ounces of gold equivalent in which TPJ subsequently takes an interest, once it starts using the database or BLEG sample locations at any time during the period of the agreement or up to two years thereafter. Tony Shearer, Chairman of TPJ, said: "Access to Newmont's South-East Asia database represents an excellent opportunity for TPJ to conduct exploration analysis at a fraction of the cost that would otherwise be associated with such a task. We are grateful for Newmont's continued support."We are in the process of negotiating with an experienced exploration team to help us take advantage of this opportunity, and I hope that we will be able to make an announcement about this in a few weeks time."NR