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Thursday, 9 January 2020

Shalateen Mining, Z-Gold Resources partner up to extract gold from three Eastern Desert concessions

Shalateen Mining and Z-Gold Resources will join forces to search for gold in three Eastern Desert concessions after the two firms signed a partnership agreement, according to Al Mal. Shalateen will control a 53% stake in the Al Sadd, Al Fawakhir, and Atallah concessions while Z-Gold will hold the remaining 47%. Z-Gold is co-owned by Egyptian Zaher Mining Group and Canadian exploration company Nuinsco Resources Ltd. The Canadian company is close to finalizing studies for the Al Sadd and Al Fawakhir areas, while the study on the Atallah area is pending unspecified procedures.

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