CHIHUAHUA, Mexico GAMMON LAKE RESOURCES of Dartmouth, N.S., has bought out BOLNISI GOLD's investment in the Ocampo open pit deposit. Gammon already controls 100% of the Ocampo underground project. For US$5 million Bolnisi will deliver the final feasibility study and relinquish its right to acquire a 60% interest in the joint venture area.
Gammon intends to move ahead on both the open pit and underground development. The company is raising $15 million through a private placement. Its web site is at www.gammonlake.com.