Aurogin nabs Tierra Blanca (March 13, 2003)

Junior Aurogin Resources (AUQ-V) has inked a deal with a private company to earn a half-stake in the Tierra Blanca gold project in central Guatemala.

Aurogin and its partner can earn a 70% interest in the 10-sq.-km property by spending US$2.5 million on exploration and paying $375,000 over four years. The remaining 30% can be acquired for an unspecified amount.

Tierra Blanca sits on the southern flank of the Motagua fault, which bisects the country.

Locally, the property overlies a limestone ridge littered with granodiorite breccia float that assays up to 70 grams gold per tonne. The source remains unknown.Drilling will begin shortly.