Miranda Industries (VSE) can acquire the Colorada gold concession in Mexico’s Sinaloa state.
To do so, it must make annual payments of US$58,000 over a 5-year period, followed by a final payment of US$50,000.
The property consists of 14 hectares which cover a northwest-trending structure containing high-grade, epithermal mineralization. Miranda believes the concession holds the potential to host bulk-tonnage, disseminated or stockwork mineralization.
Negotiations are under way on five other concessions in the same district.
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