January 18 (SeeNews) - Australian Securities Exchange (ASX) listed mineral exploration company BMG Resources said it has secured the rights to acquire call options for 100% of four advanced gold and polymetallic development and exploration projects located in Bulgaria.
The four projects, all located in the northern part of the country, are Trun, Babyak, Srebren and Zidarova/Varshilo, BMG said in a bourse filing on Wednesday.
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The acquisition of the call options is subject to satisfactory due diligence enquiries and required shareholder, ASX and Corporations Act approvals, according to the filing.
Extensive exploration works have been conducted across all four project areas by the current and previous owners with all relevant physical and digital components of the data available for review, BMG said.
BMG has appointed CSA Global to review the technical information on the projects and to prepare mineral resource estimates. The initial work is expected to be completed within the next few weeks, the statement reads.
BMG Resources is an Australian mineral exploration company targeting advanced stage opportunities with near term cash-flow potential.