Lei Dultra, Communication Officer of Annamite Resources
6 Jul 2023
ARH, Annamite Resources Holdings Pte. Ltd., is excited to announce a partnership with Rio Tinto Exploration Pty Limited (RTX) for the exploration of the Sokdee project in Laos. The Sokdee project, situated north of Vientiane, showcases promising potential for porphyry copper-gold and related mineralization, with newly discovered Namthom Cu-Au-Mo mineralization and a significant Cu-Au-Mo soil anomaly at Mouk.
Annamite Resources Holdings Pte. Ltd. ("ARH") is pleased to announce that it has signed an agreement with Rio Tinto Exploration Pty Limited ("RTX") for RTX to partner in exploring the Sokdee project in the Lao People’s Democratic Republic (“Laos”).
The Sokdee project is located approximately 100 km north of Vientiane, the capital of Laos. The region, which has abundant water, is well served by road, rail, and the existing power grid. Sokdee contains the newly discovered Namthom Cu-Au-Mo porphyry-style mineralization and a separate untested 1.6 km long coherent coincident Cu-Au-Mo soil anomaly located at Mouk approximately 3km to the NE which in the aggregate are considered by ARH and RTX to be highly prospective for porphyry copper-gold and related mineralization.
RTX will invest US$150,000 in ARH through a share placement and will commit to funding an initial exploration program of US$810,000 (inclusive of the share placement in ARH). Upon completion of this programme, RTX (or an affiliate company) will have the option to earn progressively more interests in the Sokdee project company, Lao Hyundae Black Stone Co. Ltd (LHBS), through staged investments in the exploration of Sokdee, which is currently 70% owned by ARH.
ARH will be the operator of the initial exploration programme designed jointly by ARH and RTX. Upon exercise of its option to earn into LHBS, RTX will have the right to act as manager of LHBS and to appoint directors to LHBS commensurate with its equity interest.
ARH is a private company registered in Singapore that was established in 2019 to explore Southeast Asia, with an initial focus on Laos. ARH is currently reviewing other opportunities in Laos, a country considered prospective for gold, copper and other base metals, including nickel.