Gold Explorations Set for February
Canadian mining firm Northern Lion Gold Corp. is set to start exploration in Troodos where it has 20 permits for various areas to mine for gold.
In December 2009 the company which is publicly listed on the TSX, said it has found high grade copper, silver and zinc massive sulphide mineralisation with 'significant gold values' in Troodos and has bought an option to exploit the reserves.
The company will pay 977,000 euros to mine the Philani and Red Hill land areas owned by Michael Poullaides.
"Phase I exploration on the Cyprus permits will commence at the beginning of February, and will include mapping, soil and rock geochemical sampling, IP and magnetic surveys," said the company in a statement.
Philani area is particularly promising, according to Lion Gold Corp.