Sydney, Australia, Nov 28, 2012 - (ABN Newswire) - Bora Bora Resources Limited (ASX:BBR.AX - News) signed a binding Heads of Agreement to acquire a 75% interest in a suite of tenements surrounding one of the world's oldest producing and highest grade vein graphite mines near Kandy, Sri Lanka.
Chairman Patrick Ford commented:
"We are very excited by the acquisition and its high grade nature which is not comparable to any other region in the world. This acquisition supports the Company's strategy to acquire high quality projects that have the potential to build significant value for shareholders."
Bora Bora Resources is owner of the historical St Arnaud gold field in Victoria, which records show from 1864 to 1916 produced a total of 358,720oz of gold at an average grade of 15.8g/t Au with the major share of the production coming from the Lord Nelson mine.
About Bora Bora Resources Limited:
Bora Bora Resources Limited (ASX:BBR.AX - News) was incorporated in March 2011 for the purpose of acquiring, exploring and developing mineral projects prospective for gold, other precious metals, base metals and other minerals located in Australia and overseas.
Bora Bora Resources Limited
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