PERTH (miningweekly.com) – Explorer Azure Minerals has acquired the San Agustin gold-silver project, in Mexico, and would start exploration at the project later this year.
“It’s very exciting that we were approached and offered this exciting new prospect. While our focus is clearly in advancing our Alacran silver and gold discoveries, this new project provides us with an unexplored foothold in the middle of the hottest silver district in Mexico,” said Azure MD Tony Rovira.
Covering 201 ha, the San Agustin claim is located at the heart of the Mexican silver belt, with no prior exploration undertaken at the project.
Under the terms of the agreement, Azure would acquire the project for $10 000 and a 1% net smelter royalty over future mineral production.
Azure was expected to start reconnaissance exploration later this year.