Hochschild terminates Riverside earn-in option
TSX-V-listed Riverside Resources continues to believe in the potential of the Cuarentas project, in Mexico, and has recovered the project from Hochschild, after the miner terminated its earn-in option.
The Cuarentas option agreement lasted for 11 months during which Hochschild spent about $1.2-million, developed broader technical data on target areas and began with drill testing one of the eight defined target areas.
Under the option, Hochschild drilled nine holes (1 500 m) helping outline a better understanding of the past producing Santa Rosalia mine area.
“We were pleased with the target generation and exploration phase of the option, and with only a modest 1 500 m programme completed, there are plenty of compelling targets that remain untested across a project with historical production history and demonstrated high grades from surface sampling,” said Riverside president and CEO John-Mark Staude.
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