Int’l Northair inks Minas deal

The Mexican subsidiary of Battle Mountain Gold (BMG-N) will acquire a majority interest in the Minas property in Veracruz state.

Situated 270 km east of Mexico City, the property is held by the Mexican subsidiary of International Northair Mines (INM-V).

Battle Mountain can earn up to a 70% stake in the project by making cash payments of US$125,000 to Grupo Northair and spending US$90,000 on exploration.

The Minas property overlies a continuous zone of exoskarn mineralization averaging 30 metres in thickness and exposed along an irregular, 2-km length at the base of several drainages.

Results from 320 channel samples taken along the 2-km exposure averaged 1.56 grams gold per tonne and 0.39% copper, with many areas containing higher values.

Meanwhile, farther to the south, the Mexican subsidiary of Teck (TEK-T) has begun drilling at Northair’s Lachatao property. Northair holds an option on the property, which is 35 km northeast of Oaxaca City.