A private placement in La Esperanza Gold Explorations gives Aurizon Mines (VSE) added exposure to Mexico.
The placement includes 200,000 shares at 50 cents and represents an initial 28% interest in the company.
La Esperanza, which plans to list its shares this year, currently has three properties in Mexico.
The company can acquire the Tacotes project, near Cosala in the western state of Sinaloa, by paying US$350,000 over three years. Gold and silver were produced from six high-grade bodies on the property prior to the mid 1980s and La Esperanza sees good potential for developing an open-pit, heap-leach mine.
The company’s Sonia project, near Rosario, also in Sinaloa, contains a gently dipping, epithermal quartz stockwork zone which has returned grades of up to 31 grams gold per tonne.
The third property, near Concordia in Sonora state, is El Capiro, where a small, open cut has exposed a gold-bearing zone grading 4.5 grams gold over 24 metres.
The apparent trend of this zone is to the northeast, where two outcrops returned assays of 1.2 and 2.9 grams gold.
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