Wednesday, August 11, 2010

Orosur Mining and Gladiator Resources

 - An Option and JV agreement for potential deposits (Uruguay).
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Orosur Mining Inc. (TSX-V: OMI, LON: OMI), a gold producer and explorer has an option and joint venture agreement with Gladiator Resources Ltd (ASX: GLA completed).

GLA now has the right to earn up to 80%, at Orosur's iron ore, manganese ore and base metal potential deposits in the "Isla Cristalina" belt in Uruguay.

Orosur CEO David Fowler said: "Gladiator Resources' first due diligence on the Isla Cristalina iron project confirmed the potential for the development of an iron-making operation."

Drilling and feasibility work is expected to begin this month he said.

Orosur will not invest additional funds to the project until the end of the feasibility study. We look forward to the results of the work in the coming years, "said Mr Fowler.