Osisko Mining Corporation (TSX: OSK) and Clifton Star Resources (TSX-V: CFO) have entered an agreement to form a joint venture on the Duparquet Project. Pursuant to the agreement, Osisko will earn a 50% interest by investing $70 million over a 4 year period which includes a commitment of $15 million in 2010. Osisko will work as the operator of the JV during the earn in period and thereafter as long as Osisko holds a minimum 50% interest in the JV.
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About Osisko
Osisko Mining Corporation is currently developing the Canadian Malartic gold deposit and adjacent mineralized zones into a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with $825 M in cash resources and is carrying out an aggressive mine development, reserve definition and exploration campaign.
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