Outcrop, Newmont lift force majeure at Colombian project
Outcrop Gold (TSXV: OCG) and funding partner Newmont-Goldcorp (NYSE: NEM) (TSX: NGT) announced this week that they will resume exploration on the Lyra project in northwestern Colombia.
The miners just lifted a condition of force majeure related to security issues, given the ongoing protests taking place in the South American country.
The Lyra project comprises 14 concession contract applications totaling 54,895 hectares covering more than 25 kilometres of the Tonusco Fault that extends south from the Buriticá vein system, near the city of Medellín.
Outcrop Gold believes that Lyra captures the “Buritica Trend,” which is a 30-kilometre extension of Tonusco. The latter is considered the source of the gold and base metal-bearing fluids that formed the Buritica veins.