Vancouver-based AZCO Mining (AZC-T) has acquired an option to earn a 70% interest in La Adelita, a copper-gold-silver prospect in Mexico’s Sonora state.
In return, the junior is required to spend US$500,000 on exploration over three years and pay US$165,000 over five years to vendor Minera Cortex Resources.
The property contains one principal zone of mineralization, which has been subject to an extensive chip sampling program. Work to date has identified a high-grade core of copper-gold-silver mineralization measuring 200 metres in strike length and 30 metres in width. Grades range between 1% and 3.86% copper, 0.2 and 3.6 grams gold per tonne, and 5.4 to 155 grams silver per tonne. The best composite channel sample across the structure returned 40 metres grading 1.14% copper, 1.07 grams gold and 47 grams silver. AZCO intends to review existing data before beginning a more detailed sampling program. A small drilling program is expected to follow. In other company news, AZCO has decided not to proceed with previous plans to acquire a Colombian emerald project from Chivor Emerald.
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