Vancouver-based San Fernando Mining (SNF-T) has completed the sale of its La Fortuna gold property in Mexico’s Durango state to Alamos Minerals (AAS-V).
To acquire the property, Alamos paid San Fernando US$50,000 and 2.3 million of its shares.
Alamos plans to spend just under US$1 million to upgrade the road and camp and mobilize equipment for bulk-mining and leaching tests.
This testing program will involve mining 50,000 tonnes, and crushing and heap-leaching 20,000 tonnes. If results are positive, Alamos will place the property into production.
San Fernando, meanwhile, is evaluating various mineral properties that may be acquired if results of the evaluation prove positive.
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