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Wednesday, 31st December 2008 (1015 views)

Tara Gold has announced that it has finalised an option agreement with Coeur d'Alene Mines that will allow the latter to earn a 100 per cent stake in the La Currita project in the state of Chihuahua, Mexico.

The newly-acquired area is adjacent to Coeur d'Alene's Palmarejo gold prospect that is currently under construction.

Under the agreement, Coeur has paid Tara Gold an initial sum of $250,000 (£172,078) and will make extra payments over a two-year period.

The final total of the transaction will amount to £2.75 million, allowing Coeur to obtain the complete 100 per cent interest in the property.

It borders the south-east part of the firm's Guadalupe deposit in the Palmarejo district, where the company has been drilling and identifying mineral resources.

Surface gold has been discovered at the La Currita project, with sample returning values of up to five g/t gold.

Meanwhile, AuEx Ventures has announced that it has recorded the "best results yet" from its Long Canyon project in Elko County, Nevada.

 

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