Teck Resources Limited today announced it has entered into an amended and restated option and joint venture agreement with Hayasa Metals Inc. This agreement grants Teck the sole and exclusive option to acquire up to an 80% interest in Mendia Resources LLC.
Mendia Resources LLC is the company that owns the geological exploration license relating to the Vardenis copper-gold project in central Armenia. This strategic move expands Teck's exploration footprint into a new region and a new project with potential for copper and gold resources.
The option agreement aligns with Teck's strategy to grow its portfolio of energy transition metals. Hayasa Metals Inc. has already begun its Phase 2 drill program at the Vardenis project, targeting a minimum of 3,500 meters, which is expected to be completed within eight weeks.
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