Trading of Valdez Gold shares has been halted as a result of title disputes on the Diana I, II and Marissa claims in Sonora state, Mexico.
To re-establish title, the Alberta-listed company was required by the Mexican government to enter a “staking lottery.” Having done so, Valdez re-acquired 384 of the 400 claims previously held. Lottery results for the remainder will be known within 60 days.
In other news, Valdez has acquired three claim blocks totaling 131 sq. miles. The properties — known as Carolina 3, Sierra Pinta and Penasco — are also in northwestern Mexico.
The ground covers much of the strike extension of a northwest-trending gold belt now being drilled by a joint venture involving Newmont Gold (NYSE). The deposit contains 800,000 oz. in stockwork, hosted within granite or gniess.
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