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Wednesday, 30th August 2006 (3452 views)

EXMIN has announced that it has acquired extra parcel of land in Mexico.

The package is made up of seven concessions that cover an area of 1,125 hectares. It is located in the San Rafael de Oribo area of Chihuahua state and is close to several other productive projects including the Monterde mine, the Palmarejo district and Guazapares district.

The company has previously carried out exploration work on the properties and mineralisation is present over a wide area measuring 1.5 km by 0.5 km. Exposures in several areas have given rock chip samples that have yielded significant assays including, 4.7 grams per tonne of gold (g/t Au) over 7.4 metres and 2.1 g/t Au over 25 metres.

Allied to this, EXMIN has staked out over 50,000 hectares of land based around optioned ground. These segments stretch northwards along the structural trend of other mineralisations owned by EXMIN in the Moris-Arechuyvo region.

Executive vice president of exploration at EXMIN Craig Gibson said: "We have been working on this deal for several months. Previous work by other companies has shown that a large gold mineralised system is present in the area. This acquisition is consistent with EXMIN's strategy of acquiring strategic district scale land positions where potential world-class projects can be developed."

 

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