NEWS IN BRIEF — Britannia options Mexican ground

The Mexican subsidiary of Britannia Gold (BGP-V) will option two concessions covering 1,050 acres in Mexico’s Oaxaca state.

The acquisition is subject to a 3% net smelter return royalty and requires that the subsidiary pay vendor Minera del Caribe US$200,000 over three years.

The property, which lies in an area of historic, low-grade mining, is adjacent to the formerly producing Natividad gold mine. A turn-of-the-century government report grades Natividad’s ores at 60-1,200 oz. silver and 0.5-32 oz. gold per ton.

Minera del Caribe has also applied for two other concessions, totalling 62,000 ha, which surround the optioned property. The new property, known as Sierra Madre, is 43 km from the city of Oaxaca.