Toronto-based gold mining company McVicar Resources Inc said it signed a letter of intent with Northwest Sichuan Geological Team to acquire gold exploration properties in China in Sichaun province. If the deal goes ahead, McVicar can take an 80% stake in the Langgai gold project provided it invests US$1.5 million over three years. The project encompasses three gold properties – Langgai, Shibulan and Xiangza-Badun, all in northwest Sichuan province.
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