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Mali grants 3-year exploration permit for Saboussire gold license

Indiana Resources Ltd. said Sept. 12 that the Mali government granted an exploration permit for the Saboussire gold license to optionor FIMOCO SARL.

Indiana Resources unit Mukuyu Resources Ltd. has an option to acquire an 85% stake in Saboussire, which covers about 100 square kilometers immediately north of its Kossanto West gold project.

The license was granted for an initial three years, with the possibility of two renewals over the following two years.

The company added that the initial exploration program, which includes soil sampling, rock chip sampling and mapping, is scheduled to start in the fourth quarter.