Siga Resources Inc (SGAE)
Siga Resources Inc announced that Siga has come to an agreement with Big Rock Resources Ltd. whereby the two companies will develop the Lucky Thirteen gold placer claim under a 50/50 joint venture.
Big Rock Resources Ltd. (1BR.F, ISIN CA0894851066, WKN A1JJYB www.bigrockresources.com) has agreed to fund the initial evaluation program for $400,000 USD, and provide funding up to $8.5 million USD to place the property in full production. The partners will operate Lucky Thirteen under a Joint Venture company, Lucky 13 Mining Company Ltd., owned 50/50 by Siga and Big Rock. Lucky 13 Mining Company Ltd. will be the operator. Siga has already secured the initial operating permits for the necessary rail crossing and initial test mining. Siga is currently constructing the washing and initial process plant to be used in the evaluation program. Siga's President Ed Morrow said that "Siga is most pleased to have Big Rock Resources as a Joint Venture Partner. The combined power of the partnership will facilitate the rapid development of a production operation at Lucky thirteen."