Annamite Resources Partners with Douangchaleun Development Construction for Vangma Project
April 2024
by: Leian Mae Dultra, Communications
COMPANY ANNOUNCEMENT
Annamite Resources Laos Co., Ltd. (“ARL”) is pleased to announce that it has signed today an agreement with Douangchaleun Development Construction Sole Co., Ltd. (“DDC”) to partner in exploring the Vangma project in the Lao People’s Democratic Republic (“Laos”).
Covering an area of 148 sq.km., the Vangma project is located 90 km north of Vientiane, the capital of Laos. The region, which has abundant water, is well served by road, rail, and the existing power grid. Vangma is located immediately south of Annamite’s Sokdee project which contains the newly discovered Boundary-Namthom-Mouk porphyry systems along a 6 km strike. The area comprising Sokdee and Vangma is considered by Annamite to be highly prospective for porphyry copper-gold-molybdenum and related gold-silver mineralization.
ARL expects to invest US$1.5 million during the next 2 years to fund an initial exploration program, allowing Annamite to acquire a 51% interest in the newly created Vangma project company, Douangchaleun Development Construction Mining Sole Co., Ltd. (DDCM).
Upon completion of this programme, ARL and DDC will have the option to earn progressively more interest in DDCM through staged investments in the exploration of Vangma.
ARL will be the operator of the initial exploration programme designed jointly by ARL and DDC. ARL is owned 90% by Annamite Resources Holdings Pte. Ltd. (ARH) and 10% by two Lao individuals, current shareholders in ARH.
ARH is a private company registered in Singapore that was established in 2019 to explore precious and base metals in Southeast Asia, with an initial focus on Laos.ARH and its Lao subsidiary ARL are reviewing other opportunities in Laos, a country considered highly prospective and relatively underexplored for these metals.
Annamite Resources Holdings Pte. Ltd. (ARH) is a precious and base metals mineral exploration company incorporated in Singapore (# 201915983C) with operations in Laos.
Our local Lao subsidiary Annamite Resources Laos Co., Ltd (# 01-00024196) was established in July 2020.
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