CENTRAL AMERICA GLENCAIRN GOLD and YAMANA GOLD have struck a deal whereby Glencairn will acquire Yamana’s La Libertad gold mine in Nicaragua and a 60% share of the Cerro Quema gold project in Panama. The deal is worth approximately $22.7 million.
The Central American properties will boost Glencairn’s gold output. The La Libertad mine, 110 km east of Managua, is an open pit/heap leach operation. Production for 2006 is estimated at 50,000 oz of gold. The ground around the mine is viewed as having potential for more gold discoveries. Cerro Quema, 190 km southwest of Panama City, is an advanced stage exploration project. Developing an open pit and heap leaching would cost an estimated $10.0 million.
Visit either www.GlencairnGold.com or www.Yamana.com for additional information.