Canadian Baroyeca enters formal option for Colombian mineral properties

Baroyeca Gold & Silver entered into two formal mineral property option agreements with Malabar Gold Corp., a private British Columbia company, to acquire a 100-per-cent interest in the Santa Barbara property and the Falan property, two mineral properties located in Colombia. The Santa Barbara and Falan properties consist of 110.86 and 2,585.94 hectares located in the Bolivar and Tolima departments, for which Baroyeca will make cash payments of $2.8 million to Malabar, issue 12 million Baroyeca common shares to Malabar and must incur expenditures of $500,000 on the Santa Barbara property.

Source: Stockwatch