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Friday, 2nd March 2007 (5612 views)

Toronto-based gold mining company Odyssey has agreed contracts with two Moroccan gold firms which will bring the two groups closer together in terms of gold mining in the North African country.

Odyssey has teamed up with Global Mines, based in Casablanca, which own numerous exploration licences and precious metal commodities across the country – details which are invaluable to Odyssey.

Odyssey will now review the company's three main properties in Morocco, including the Talouine gold property, located in the southern Anti Atlas. The site currently has a resource yield of around 5.6 million tonnes with a grade of 1.22 grams per tonne.

The company also owns the Tizintfirst copper-gold property, which covers a 16sq km area.

And Odyssey has also signed a deal with Marakech-based mining firm Socomis (Societe Commercial et Miniere du Sahara), which has seven precious metal mines in its portfolio.

Odyssey itself is focused almost entirely in Turkey and Morocco, where it is advancing a surface-exposed gold deposit and exploring around and underneath it where it claims there is "tremendous additional exploration potential".

 

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