Metminco Limited announced that it has entered into a joint venture agreement with Anglo Gold Ashanti Colombia SA to explore and develop the Chuscal Gold Prospect. The Chuscal Gold target is just 1,700m south of Metminco's proposed plant at Miraflores in Colombia and is another significant gold target, together with Tesorito, within a 3km radius of the Miraflores deposit. Chuscal features a large, undrilled surface gold geochemical anomaly (soil and rockchip) with high grade samples (up to 54gpt) within a large lower grade envelope. Channel sampling from a small scale underground mine indicated continuous, highly encouraging grades beneath the target zone. The Chuscal gold zone Is associated with two diorite stocks probably of Miocene age, that have intruded into the large, Cretaceous-age igneous body known as the Irra Monzonite. The stocks are part of a system that generated a large gold rich hydrothermal event, that produced a NW orientated, 900m by 500m zone (+100ppb Au in soils) within which highly anomalous rock samples have been collected by AngloGold. The rock chip sampling has defined: a Central Zone of 600m by 240m (183 samples) the average grade of samples is 2.66gpt Au (uncut) or 1.94gpt Au (cut); a broader area (Main Zone) of 900m by 530m (289 samples) where the average grade of samples is 1.79gpt Au (uncut) or 1.33gpt Au (cut).