A letter of intent to acquire a 100% interest in the Oro Verde copper-gold-silver property in Sonora, Mexico, has been signed by Minorca Resources (VSE).
The company says it must remit 175,000 shares to the vendor, who will retain a 3% net smelter royalty. The company will also make cash payments. Previously known as the Azteca mine, the property was high graded about 30 years ago at a rate of 30 tons (containing 6% copper) per week, Minorca says, adding that the property has never been drilled. The agreement is subject to regulatory and board approval. Financing for a work program is being negotiated.
Be the first to comment on "LATIN AMERICA ROUNDUP — Minorca acquiring Mexican prospect"