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Tuesday, 21st August 2007 (2721 views)

Esperanza Silver is making a foray into the gold sector with its acquisition of gold properties in Mexico.

The company announced that it has signed a letter of intent to acquire a four-year option on seven gold exploration properties in Mexico's Durango and Chihuahua States.

Esperanza is to acquire the properties from privately-held and related companies Exploraciones del Altiplano and Compania Minera Terciario.

"The acquisition of this drill-ready exploration package is a noteworthy addition to Esperanza's portfolio because it provides a significant position within one of the world's most exciting exploration areas," commented Bill Pincus, president of Esperanza.

He added that the purchase emphasises the company's strategy for growth through a combination of "grassroots" efforts and acquisitions of advanced-stage properties.

 

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