In the Sahuaripa area of Mexico’s Sonora state, Morgain Minerals (MGM-V) has staked three blocks of exploration concessions totalling 33,000 ha.
Through a wholly owned subsidiary, the junior optioned some small exploration concessions within the staked area. The consideration for these concessions ranges from $26,000 to $130,000, over periods of up to three years. The interests to be acquired range from 50% to 100%.
Morgain says the areas staked and optioned contain large, gold-bearing gossan zones. Preliminary assay values from grab samples are reported to range from 0.018 to 24 grams gold per tonne.
The proposed work program will consist of sampling and mapping to determine the extent of the mineralized areas.
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