In northern Mexico, Dragon Gem (VSE) is earning a half interest in the Las Vigas copper project from a wholly owned subsidiary of Corner Bay Minerals (ME).
Situated in Chihuahua state, the 3,474-hectare project encompasses three concessions and is underlain by a 27.5-km-long, red-bed, sedimentary horizon that hosts copper oxide mineralization. The partners will search for large-tonnage deposits amenable to heap leaching and solvent-extraction electrowinning.
Prospecting and mapping will begin shortly, to be followed by reverse circulation drilling to test an area of known mineralization 40 metres wide along a 3.75-km strike.
Dragon Gem must pay $US150,000 cash to the subsidiary and spend $US1 million on exploration. The operator will be Corner Bay.
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