Turkish company to explore gold in Ireland

ISTANBUL

Koza Gold’s subsidiary Koza LTD and Ireland-based IMC Exploration Limited have signed a deal to explore gold and silver in four fields in Ireland.

“In accordance with the deal, the company will finance mining exploration and geological activities in the fields. Koza LTD will have a 55 percent stake in the mine development and/or management in the initial stage. The company will have an option to increase its stake to 75 percent in the planned joint venture,” the company said in a written statement on March 23.

Koza LTD signed another deal with Canada-based Medgold Resources for gold and silver prospecting activities in mining areas owned by Medgold in Portugal earlier this month.

In a statement issued by Koza Gold on March 16, it said the agreement covered mining research and geological activities in the region, as well as the financing of the project.