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Orocan no longer buying Arnevut Resources

MINING.COM Staff Writer | May 30, 2011 | 7:07 pm Precious Metals Gold 

Orocan Resource Corp, listed on the TSX Venture exchange announced on Monday that it has terminated the letter of intent with Arnevut Resources Inc. originally announced on March 3, 2011.

The primary asset of Arnevut is its option to acquire up to a 75% interest in the Island Mountain Gold Property, in Elko County in the Jerritt Canyon Trend of northeast Nevada. Orocan has reviewed technical information in respect of the Property and does not accept the resource estimate previously prepared on the Property.

However, Orocan is still very interested in the exploration potential of the Property and wishes to pursue negotiations with Arnevut for an option to acquire Arnevut’s interest in it.

For the full press release click here..

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