Mithril advances La Dura gold-silver property acquisition in Durango, Mexico

Mithril Silver and Gold has executed a acquisition enactment statement to get the La Dura gold-silver property, located adjacent to its Copalquin spot successful Durango State, Mexico.

The La Dura spot consists of 5 contiguous mining concessions covering 2,052 hectares (ha).

It lies little than 5km from the municipality of El Durazno and nether 20km from the Copalquin district.

Last operated successful 2013, La Dura is known for hosting aggregate historical mines and workings, highlighted by the four-level La Dura gold-silver mine, which includes a 60 tonne (t) per time processing facility.

The tract is supported by an extended historical database including mining records and sampling information compiled from the 1990s done 2018.

Mithril Silver and Gold has secured an exclusive enactment to get a 100% involvement successful the La Dura concessions astatine immoderate clip wrong a four-year word by paying $4m (A$6.03m) to the vendor.

As portion of the agreement, the institution volition support the mining concessions successful bully lasting and aims to transportation retired airy detection and ranging (LiDAR) and aerial magnetic surveys connected the spot wrong the archetypal year.

The LiDAR survey is scheduled for this month, with the aerial magnetic survey planned for aboriginal 2026.

Additionally, Mithril has pledged a minimum exploration walk of $200,000 successful the 2nd year.

There are nary further exploration expenditure requirements beyond these obligations, said the company.

The acquisition of the La Dura spot is said to summation Mithril’s onshore presumption adjacent its Copalquin District property, wherever drilling is presently nether mode astatine targets 1 and 5, with people 3 drilling acceptable to statesman successful January 2026.

Mithril Silver and Gold managing manager and CEO John Skeet said: “The historical La Dura excavation was a notable past producer, and the section geology provides imaginable to big golden and metallic mineralisation crossed the 20km² mining concession area. La Dura lies wrong the aforesaid geologic locality arsenic our flagship Copalquin spot and is lone 5km from our existing enactment bureau successful the municipality of El Durazno.

“The upcoming LiDAR and aerial magnetic surveys volition supply an archetypal appraisal of the prospectivity crossed the 20km² concession country up of elaborate mapping, sampling and aboriginal drill testing. Mithril has a beardown instauration of cognition astatine La Dura, with absorption having completed exploration enactment connected the spot successful 2017–18.

“The team’s proven method strengths and find acquisition astatine Copalquin presumption the institution good to unlock worth astatine La Dura.”

"Mithril advances La Dura gold-silver spot acquisition successful Durango, Mexico" was primitively created and published by Mining Technology, a GlobalData owned brand.