From Financialpost · · 1m 20s
Zacatecas Silver Acquires Lourdes Gold-Silver Project
Zacatecas Silver signs option to buy Lourdes gold-silver project from Guanajuato Silver for $825,000.
In brief
Zacatecas Silver signs option to buy Lourdes gold-silver project from Guanajuato Silver for $825,000. Zacatecas Silver Corp. may acquire 100% interest in Lourdes gold-silver project in Mexico for $825,000 over two years. Originally reported by Financialpost.
Zacatecas Silver Announces Option Agreement
Zacatecas Silver Corp. entered into an option agreement with Guanajuato Silver Company Ltd. and its subsidiary Mina Bolanitos to acquire 100% interest in the Lourdes gold-silver project in Guanajuato State, Mexico.
Lourdes Project Details
Lourdes is a low sulphidation epithermal vein system in a historical mining district with at least six mapped vein structures across three concessions totaling 509 hectares.
El Tigre Vein Characteristics
The El Tigre vein, principal target, has been mapped over approximately 770 metres of strike at surface with widths of 0.35 to 6.0 metres.
Previous Drilling Results
Seven shallow core holes totalling 1,424 metres were drilled in 2003, 2004 with poor core recovery in vein zones, returning best intercept of 0.7 g/t gold and 82 g/t silver over 0.4 metres.
Acquisition Terms
Total consideration of US$825,000 over two years, comprising US$225,000 in cash and US$600,000 in common shares, with no minimum exploration expenditure commitments.
Project Location
Lourdes is located approximately 40 km northeast of Guanajuato City, with access by highway and dirt road.
At a glance
Zacatecas Silver Corp. may acquire 100% interest in Lourdes gold-silver project in Mexico for $825,000 over two years.
