LatinGold (LAT-T) has signed an agreement with a private firm to earn a 60% interest in two silver-gold properties in Mexico’s Guanajuato state.
LatinGold can earn its interest in two stages, each of which consists of spending $250,000 on exploration over six months and issuing 250,000 shares to Minera San Jorge, the vendor. The company intends to carry out a private placement in order to raise $480,000 to be used in the acquisition.
The Pinguicos and Pozos properties cover a total of 25,650 ha. Pinguicos contains a volcanic-hosted vein and stockwork system. The company intends to test four targets there using both reverse-circulation and diamond drilling.
At Pozos, which hosts two vein systems, trenching is expected to begin later in the year.
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