U.S. REPORT Adonos options Colorado prospect

An option to earn a 50% interest in a 20-claim polymetallic property at Idaho Springs, Colo., by spending $1 million has been acquired by Adonos Resources (VSE) from Franklin Consolidated Mining (NASDAQ).

The property hosts a shaft to a depth of 875 ft., hoisting facilities and a flotation mill with a rated capacity of 150 tons per day. Adonos, which will act as operator, said mining and milling permits are in place.

A reserve potential of 3-11 million tons is estimated, with gold, silver, zinc, lead and copper credits.

Adonos said a technical team will evaluate operating alternatives and make its recommendation for finalization by the first week of June. The transaction is subject to regulatory approval and a finder’s fee is payable.