Marvel Gold Ltd (ASX:MVL) is acquiring the remaining 20% interest in five exploration licences in southern Mali that are part of a joint venture with Canadian-based B2Gold Corporation.
The company has reached an agreement with B2Gold to acquire the remainder of that company’s inherited interest in the JV exploration licences within the Kolondieba and Yanfolila gold projects along with several tenements adjacent to the Tabakorole project.
Marvel has been in negotiations with B2Gold since it acquired Oklo Resources Ltd in September 2022 with respect to acquiring the remaining 20% formerly held by Oklo.
“Greater exposure”
MVL executive director of exploration Chris van Wijk said: “We are very pleased to acquire the remaining interest in the JV exploration licences, which takes us to 100% ownership of the Kolondieba and Yanfolila projects as well as several tenements contiguous with Tabakorole.
“This acquisition allows for greater exposure to future exploration success on the projects and also enhances the prospects of a transaction on these licences.”
Acquisition terms
B2Gold has agreed to cede its interest in the JV exploration licences to Marvel as part of B2Gold’s ongoing restructure of its interests in Mali.
The parties have agreed to release each other from any and all future obligations and liabilities under the previous JV agreement, including B2Gold’s obligation to renew and transfer the tenements and Marvel’s obligation to issue shares to B2Gold upon renewal of the exploration licences.
About Marvel Gold
Marvel is a Mali-focused gold explorer with advanced gold exploration projects and extensive landholdings in the country’s south and west.
The flagship Tabakorole Gold Project has a JORC mineral resource of 1.025 million ounces grading 1.2 g/t gold with strong growth prospects along strike and via near-deposit prospectivity over an extensive landholding in excess of 800 square kilometres.
There has also been golden exploration successes at the Kolondieba and Yanfolila projects.
Marvel has an experienced board and management team with specific skills, and extensive experience, in African based exploration, project development and mining.
Completion of the B2Gold acquisition is subject to Mali Government and third-party approvals, including assignment of a royalty interest in connection with the JV exploration licences.
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