Canadian-based Oriental Minerals, the only western metals exploration company active in South Korea, announced on Wednesday that it has given notice of intent to exercise options on the Yeonwha and Taebaek lead-zinc properties in South Korea in return for cash and shares worth $2.1 million. Oriental was granted the options under a 2006 agreement with the Se Woo Mining Company.
Oriental is currently progressing its three core mineral deposits in South Korea: Sangdong tungsten-molybdenum, Sangdong molybdenum and Muguk gold but regards the Taebaek and Yeonwha properties as longer-term additions to its portfolio.
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