Today before the opening bell, Bravo Resource Partners signed a letter of intent to partner on the Accoon mine in Ghana, Africa. The Accoon mine is situated at the southern end of the long belt of Tarkwaian sediments within the Ashanti Gold Belt. The Ashanti Gold Belt is known as one of the world’s most prolific belts in terms of gold discoveries with more than 60 million ounces of gold being produced from the area.

A resource estimate prepared in 2001 for the Akoon mine found an inferred resource of approximately 5.0 million tonnes of ore grading 11.06 grams of gold per tonne containing over 1.6 million ounces of gold. According to the press release, the gold at the Akoon mine occurs in the conglomerate of Blanket Formation whose rocks are analogous in many characteristics to the gold reefs of Witwatersrand in South Africa.

Commenting on the joint venture, Mr. Jeffrey Cox, President and CEO of Bravo Resource Partners, stated, “This is a significant and positive development for Bravo Resources. We are planning to dewater all of the underground workings of the mine. Dewatering will be done in two phases with mine production starting shortly after the completion. We will keep shareholders updated as to all developments at this property’s development as well as other corporate activities.”

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