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Wednesday, 21st November 2007 (2573 views)

Oremex Resources has announced it has entered into an agreement to gain whole ownership of the Cuyoaco gold property, it has emerged.

The property, which is located in the Mexican state of Puebla, is though to contain a high-grade gold system.

Situated in the firmer Talpizaco-Tateno Mining District, the property is contained within the boundaries of an old mining camp, where gold values from previous underground work are up to three grams of gold per tonne.

The acquisition agreement will take place through the company's subsidiary Oremexico and will involve the purchase of the property over a four-year period through cash and share issue payments.

Oremex Resources currently holds whole interest in seven mineral properties located on or near the Mexican Precious Metals Belt, including the 85-hectare Navidad gold prospect.

Based in Canada and listed on the Toronto Stock Exchange, the company has stated its intention to actively seek properties that will maximise shareholder value and provide a return on investment.

 

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