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Cardero Resource Corp. (TSX:CDU,NYSE:CDY,FWB:CR5) announced that Emmaland Resources Limited has received approval for three prospecting licenses.
Cardero Resource Corp. (TSX:CDU,NYSE:CDY,FWB:CR5) announced that Emmaland Resources Limited has received approval for three prospecting licenses.
As quoted in the press release,
Accordingly, Emmaland has submitted to the Minerals Commission (Ghana) (“MinCom”) the final documentation required for the formal issuance of the prospecting licenses and anticipates that they should be issued around the beginning of November, 2011. Cardero has negotiated joint ventures with Emmaland pursuant to which the Company can acquire a 100% working interest in each of the three licenses.
The Sheini Hills Iron formation, occurring as hematite with a lesser component of magnetite, has an indicated average thickness of 50 to 150 metres and can be followed by surface mapping and sampling for a minimum of 30 kilometres of strike. The mineralized system appears to be flat to gently dipping at surface, forming north-south trending prominent ridges.
Click here to read the Cardero Resource Corp. (TSX:CDU) press release.
