International Northair Mines (VSE) is focusing its exploration efforts on two properties in Mexico.
Among its assets in the country is an option to acquire the 6,000-hectare Lachatao project in Oaxaca state for US$135,000, to be paid over four years, plus a final US$1,600-per-hectare buyout.
A mapping program, now under way, is aimed at defining several bulk-tonnage and high-grade vein gold targets.
Its other principal property is Las Minas, in Veracruz state, where previous sampling returned values in the range of 1-5 grams gold and 0.5%-2% copper.
To acquire this property, Northair must pay US$65,000 over three years plus a final, US$1.2-million buyout.
The junior gained a major foothold in the country earlier this year when it acquired Minera Lac de Mexico, the Mexican subsidiary of now-defunct Lac Minerals.
“This is a unique situation in that we control a whole district,” points out James Robinson, head of Grupo Northair (and previously district manager of Lac’s programs in Mexico, Central America and the Caribbean).
The geology of the district is characterized by a large, andesitic, volcanic centre within Mesozoic sediments, with multiple outlying rhyolitic and rhyodacitic intrusives.
International Northair has $1.2 million in working capital and 3.4 million shares outstanding.
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