Azure Minerals Ltd. said Aug. 28 that it executed its agreement with Minera Teck S.A. de CV to acquire the Alacran silver-gold project in Mexico, with Minera Teck parent Teck Resources Ltd. becoming a stakeholder of Azure with 19.9% interest in the company.
Azure Minerals will conduct silver and gold exploration to test the project's upside potential, with drilling scheduled in the fourth quarter.
The Alacran project hosts mineral resources of 10.5 million tonnes at 82 g/t silver containing 27.4 million ounces at the Mesa de Plata deposit, and 5.4 Mt at 28 g/t silver and 0.9 g/t gold containing 4.8 Moz of silver and 150,000 ounces of gold at the Loma Bonita deposit.
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