Caldera Resources, Inc. reported that the company has received a mineral exploration license at the Marjan West Project area in the Republic of Armenia. The company is required to submit an exploration plan within five months of receiving the license.
Caldera Resources said that the Ministry of Energy and Natural Resources issued Exploration License No. 106 to Biomine LLC, the company’s subsidiary in Armenia. The license covers nineteen square kilometers and has a term of five years.
Caldera Resources said that the Marjan West properties have deposits of prophyritic tonalite, kaolinitic alteration and copper mineralization. The project is located in close proximity to the Marjan Project, the company’s gold and silver exploration prospect in Armenia.
Caldera Resources owns 55% of the Marjan Project, which is located in the southern part of the country. The property is covered under a special license with a term of 25 years, and expires in April 2033.
Caldera Resources recently announced that intercepts of gold were found at the Clastic Unit at the Marjan Project. The company said that gold content ranged from 0.95 to 7.86 grams per ton.
For more information on the company, go to www.calderaresources.com
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