Ovoca signs agreement on joint venture

ISEQ-listed exploration company Ovoca Resources said it has signed an agreement on the formation of a new joint venture (JV), focused on gold exploration in Ireland and Northern Ireland with MinMet and Aurum Mineral Resources (AMR).

Database and knowledge assets are to be jointly assigned into a subsidiary JV company, Exploration & Development , in which Ovoca, MinMet and AMR will hold a 40%, 40% and 20% interest respectively.

"A full digital capture programme and analysis of data in areas in the west, midlands and north-east of Ireland is underway and field-work in target areas is expected to commence during April 2004," Ovoca said.