LATIN AMERICA — First Point options property in Honduras

Vancouver-based First Point Minerals (FPX-A) is preparing to explore the recently acquired Cedros silver-lead-zinc property near Tegucigalpa, Honduras.

The junior can earn a 100% interest in the 59-sq.-km property over the next five years from a private vendor. In return, First Point has agreed to pay US$15,000 cash and spend US$100,000 on exploration in the first year.

The vendor retains a 2% net smelter return royalty, which First Point can buy for an additional US$1 million.

Surface sampling will test several showings that have returned up to 2.8% lead, 19.4% zinc and 102.9 grams silver per tonne over 3.5 metres, and 1.48% lead, 13% zinc and 89.1 grams silver over 200 metres.

Drilling and trenching will follow.