Shareholders in Madison Metals have approved the sale of its copper/gold project near Silver Star, Montana, to gold explorer and developer American Pacific Mining (APM).
The Madison project is currently under an earn-in, joint venture agreement, whereby Kennecott Exploration Company, part of the Rio Tinto Group may spend $30-million to earn up to 70% of the project.
The transaction was approved by the shareholders of Madison with 99.929% of votes cast in favour of the transaction.
APM expects the transaction to close this week.