Energizer Resources Inc.(TSX:EGZ,OTCBB:ENZR,FWB:YE5) entered into a Joint Venture Agreement with Australian company Malagasy Minerals Limited.The Joint Venture owned 75% by Energizer and 25% by Malagasy will focus on the exploration and development of industrial minerals.
As quoted in the press release:
The JV Co will have the exclusive right to explore for a defined group of industrial minerals (listed in full below) and in particular vanadium, within specifically defined permits on the newly expanded land position. The new land position covers an area comprised of 2,119 claims and totals 827.7 square kilometers, which is about 3.5 times the size of the Green Giant property.
Energizer Resources, Chairman & CEO, Kirk McKinnon, said:
I’m very pleased we have now executed the definitive JVA. The new joint venture represents a ‘win-win’ proposition for both companies, as it is expected to expand the vanadium resource and accelerate the search for other strategic and industrial minerals in Madagascar. We look forward to working with Malagasy in developing these significant assets.
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