The Mexican subsidiary of Britannia Gold (BGP-V) has acquired another prospect in southern Mexico.
The 193-ha Xochipala gold-silver property is in Guerrero state, surrounded by the Morelos Reserve, which is controlled by the Mexican government’s Mineral Resources Council.
Britannia will pay US$20,000 to the owners upon signing, a further US$15,000 payment six months later, and US$10,000 payments every six months after that to a maximum of US$500,000.
Mapping and sampling will be carried out in an attempt to define targets for drilling.
Aeromagnetic surveys by the Council have detected strong anomalies trending in a northwest-southeasterly direction.
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