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flag Australian firm Flagship Minerals secures option to buy Chile's Pantanillo gold project valued at $11M.

flag Australian mining firm Flagship Minerals secured an option to buy the Pantanillo gold project in Chile's Maricunga belt, a prolific gold region. flag The project, valued at $11M, has the potential to be a low-cost heap leach operation with 1 million ounces of gold. flag Flagship will make annual payments over five years, with a final purchase price of $12.6M if they choose to buy it outright. flag The deal comes as gold prices surge past $5000 per ounce.

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