AlectoMinerals Plc said May 5 that its Gassel-Manere and Arae mineralexploration permits in Burkina Faso were renewed for three years.

The permits form the Kerboule gold project and collectively have aninitial independent in-situ gold resource assessment of 6.2 million tonnesgrading 1.16 g/t of gold for 230,758 ounces of gold, at a cut-off grade of 0.5g/t.

Alecto CEO Mark Jones said that the company is looking to finalizea joint venture on the project so "shareholders can maintain exposure tothe project without committing financial resources."