The Ministry of Petroleum & Mineral Resources said Egyptian Mineral Resources Authority (EMRA) and Lotus Gold Corporation signed a new contract for gold exploration worth LE2.5 mn.
In a statement issued Sunday the ministry said, Minister of Petroleum and Mineral Wealth Tarek al-Molla and Canada’s Ambassador to Egypt Louis Dumas witnessed the signing ceremony.
Lotus Gold Corporation took part in the first and second rounds of the global bid for gold exploration no. 1 for the year 2020 and won right of exploration of seven blocs, covering a total area of 1,291 kilometers in the first round of the bid and three blocs in the second, with a total area of 525 kilometers, the statement said.
The minister of petroleum held a meeting with a delegation of Lotus Gold Corporation ahead of the signing ceremony to review the latest developments pertaining to the company’s exploration works, it added.
Lotus Gold Corporation is a private Canadian gold exploration and development company, focused on the Egyptian Eastern Desert. Lotus Gold’s interests include 10 blocks and a leading in-country land package of 1,740 sq km within the prospective Arabian-Nubian Shield. Lotus is advancing exploration on the Umm Samra, Wadi Zeidun and Wadi Ghozah properties, with a focus on orogenic, VMS and porphyry mineralization.
