Junior First Silver Resources (VSE) intends to earn a half interest from Agincourt Explorations (VSE) in three silver-zinc properties in Mexico’s Sonora state.
The properties consist of 18 concessions in three areas northeast of Hermosillo: San Felipe, El Gachi and Moctezuma. Agincourt itself can buy the properties from Cia Minera Serrana for a total price of $3 million, paid in semi-annual instalments.
Past production in El Gachi includes 100,000 tons averaging 16.3 oz. silver per ton, 8.7% zinc and 10.4% lead. An exploration drill hole, downdip of the mine area, returned 9 ft. of 29.8 oz. silver, 10.4% zinc and 15.5% lead. Production at the Aretmisa property, in the San Felipe district, averaged 2.3 oz. silver, 15% zinc and 9.5% lead. A 100-ton-per-day flotation mill, which will require upgrading, exists on that property.
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