The company holds an irrevocable option to acquire a majority...

The company holds an irrevocable option to acquire a majority interest in the collective 1,172.9-hectare core concessions of the Santo Tomas project in northwest Mexico. It also holds a 77.5-per-cent interest in 7,807.9 hecatres of mineral concessions surrounding and adjacent to the core concessions (a total project size of 22,192 acres). The project is situated within the Santo Tomas district, which extends from Santo Tomas up to the Jinchuan Group's Bahuerachi project, which lies approximately 14 kilometres to the northeast. Santo Tomas hosts a significant copper porphyry deposit defined by prior exploration spanning the period from 1968 to 1994.