Amanta Receives Licences for Laos Copper Project
19 August 2008 - 7:13PM
Marketwired Canada
Amanta Resources Ltd. (Amanta) (TSX VENTURE:AMH) is pleased to report that it
has now received the necessary permits and licences to enable the company to
commence the first phase of the proposed exploration programmes at the Luang
Namtha copper project. This initial programme, which will include surface
sampling and mapping followed by airborne Magnetic and EM surveys, will take
some 6 months to complete.
Amanta has been granted an Investment Licence, a Business Licence and a
Prospecting Licence, by the government of the Lao PDR, and has now incorporated
its wholly-owned subsidiary, Amanta Lao Company, Ltd. and set up its corporate
office in Vientiane. Amanta is also setting up a project office in Luang Namtha.
The Copper Mineral Exploration Agreement, granted in June 2008 by the Government
of the Lao PDR, gives Amanta exclusive rights over a 200 km2 concession area in
Luang Namtha province, northern Laos, some 600 km from Vientiane, the Capital
city of the country. The Agreement provides for an initial five-year
prospecting, exploration and feasibility study period, which may be extended
upon application by Amanta to the Government. Amanta holds a 100% interest in
the project.
The concession area lies along the Yulong - Luang Namtha polymetallic porphyry
belt which hosts a number of mines including the Yulong copper mine, in eastern
Tibet, which has a reserve of some 630 million tonnes grading 1.0% copper.
Dr. Gerald Wright, President and CEO of Amanta, commented, "We are pleased at
the timely issue of the project licences and have now engaged most of the field
staff required to execute the initial phase of the project. It is anticipated
that the field programmes will commence within the next few weeks as soon as
support facilities are established within the project area."
Amanta Resources Ltd. is focused on mineral exploration, development and
production in the Southeast Asian region.
ON BEHALF OF THE BOARD OF AMANTA RESOURCES LTD.
Gerald D. Wright, President and Chief Executive Officer
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