Friday, 19th September 2008 (408 views)

Canadian company Inmet Mining and gold exploration firm Global Geoscience have negotiated an agreement for the Los Graceros Cu-Mo project in the north of Mexico.

Inmet has acquired 51 per cent of Global's Mexican subsidiary that oversees the area.

"We are delighted to have attracted the attention of one of Canada's leading global mining companies," commented Global's managing director Bernard Rowe.

Exploration will now be commenced by Imnet at the site, located 100km north-east of Hermosillo, the capital of Sonora State.

A detailed geophysical survey is expected to be conducted, followed by drill testing.

The Los Graceros Cu-Mo project is near to amenities including a highway and an international airport.

Meanwhile, Oro Silver has revealed that resources from its El Compas mine are indicated at 310,000 tonnes grading 6.52 g/t gold equivalent, for a total of 65,000 gold-equivalent ounces.

Spokesperson Herve Thiboutot said: "We are pleased with the advances achieved at El Compas during 2008."

 

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