Madison Mineral


Belencillo Project, Panama Madison Minerals, through its wholly owned Panamanian subsidiary, holds a 31.12% interest in the Belencillo Concession in eastern Panama. The balance is held by Petaquilla Minerals Ltd., which holds a number of large concessions in the Petaquilla Mineral District. The two most advanced projects are the series of world-class Petaquilla copper-molybdenum-gold deposits and nearby Molejon gold deposit. Madison wrote-down its costs on the Belencillo Property in 2001, during a period of low metal prices, as it had no intention of incurring further expenditures. Madison and Petaquilla re-revaluated the project as metal prices improved, and conducted a small exploration program on the property in 2006. Results are pending.

Belencillo Project, Panama

Madison Minerals, through its wholly owned Panamanian subsidiary, holds a 31.12% interest in the Belencillo Concession in eastern Panama. The balance is held by Petaquilla Minerals Ltd., which holds a number of large concessions in the Petaquilla Mineral District. The two most advanced projects are the series of world-class Petaquilla copper-molybdenum-gold deposits and nearby Molejon gold deposit.

Madison wrote-down its costs on the Belencillo Property in 2001, during a period of low metal prices, as it had no intention of incurring further expenditures. Madison and Petaquilla re-revaluated the project as metal prices improved, and conducted a small exploration program on the property in 2006. Results are pending.