Auxico Resources Canada Inc. Announces Option to Aquire La Franca Mine
![Auxico Resources Canada Inc. Announces Option to Aquire La Franca Mine](https://www.minenportal.de/media/goldseiten-news.jpg)
The Company has a right to purchase 100% of the La Franca mine for US$500,000 payable quarterly over a 5-year period, and is subject to a 2% Net Smelter Return Royalty (NSRR) which can be re-purchased at any time from the owners for US$500,000 for each percentage point.
Zamora gold-silver property
The Zamora property, owned 100% by the Company, which now includes an option on La Franca and covers an area of 3,388 hectares, contains 23 historical gold/silver mines/prospects that had historical production over the last 100 years. The Company undertook a sampling campaign in 2018 over selected areas on the property, which confirmed the high-grade nature of the silver and gold mineralization. One sample taken from a stockpile outside the Campanillas portal assayed as high as 14.6 kg/t of silver and 15.53 g/t of gold.
According to Mr. Scodnick, who has been working on other epithermal silver-gold deposits and mines in Mexico and has spent two years exploring the property, Zamora has the potential to host a significant silver-gold deposit. Zamora has only limited exploration and has thus far demonstrated that the mineralizing events and alteration patterns cover a very large area and that none of the historic workings appear to have been mined below 60 – 100m which is considered very shallow. These types of deposits are known to exceed more than 1,000 – 1,200 metres in depth.
Qualified Person
This news release was reviewed and approved by Joel Scodnick, P.Geo., an independent consultant to Auxico, in his capacity as a Qualified Person, as defined by National Instrument 43-101.
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. ("Auxico") is a Canadian company that was founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia, Brazil, Mexico and the Democratic Republic of the Congo.
Additional information on Auxico can be found on the Company's website (www.auxicoresources.com) or on SEDAR (www.sedar.com) under "Auxico Resources Canada Inc."
ON BEHALF OF THE BOARD OF DIRECTORS
« signed » | « signed » |
Pierre Gauthier | Mark Billings |
President, Auxico Resources Canada Inc. | |
pg@auxicoresources.com | mb@auxicoresources.com |
Cell: +1 514 299 0881 | Cell: +1 514 296 1641 |
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
SOURCE Auxico Resources Canada Inc.
Contact
Pierre Gauthier, CEO, Auxico Resources Canada Inc., pg@auxicoresources.com, Cell: +1 514 299 0881; Mark Billings, President, Auxico Resources Canada Inc., mb@auxicoresources.com, Cell: +1 514 296 1641