VANCOUVER – JONPOL EXPLORATIONS and ELGIN RESOURCES have agreed to merge their assets and acquire a controlling interest in the Spitzkop platinum project in South Africa.
Elgin previously entered into a 50/50 joint venture with Spitzkop Platinum to explore, develop and operate the potential Spitzkop PGE mine. For its part, Jonpol has entered into a share purchase agreement whereby it will acquire a 74% interest in Spitzkop Platinum by purchasing all the shares of EASTERN PLATINUM HOLDINGS, which currently holds the 74% interest.
Complete details of the deal are available at www.ElginResources.com. Descriptions of the Spitzkop and the Mareesburg platinum projects are also posted there.