The wholly owned Mexican subsidiary of Eldorado (ELD-T) has signed an option agreement with Miranda Industries (MAD-V) on that company’s La Rastra project in Sinaloa state, Mexico.
Eldorado can earn a 51% interest by spending a minimum of $500,000 over four years and completing a positive, bankable feasibility study.
That interest can be increased to 70% by arranging Miranda’s financing for its share of the capital costs required to place the project into production.
Preliminary work on the Rastra property outlined gold anomalies overlying mineralized structures hosting epithermal precious metal mineralization in Tertiary volcanic rocks.
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