The mining plan has been updated to projected output of 35.5 million oz silver over the next eight years.

Rio has identified numerous targets during its two-plus years of exploration on the property.

The government had previously denied B2Gold's application for an extension of the Menankoto exploration permit.

The company has an option to acquire 100% of the recently consolidated 9,386.5-hectare Panuco property.

The recently listed junior made the grassroots Regnault discovery at the Frotet project last year.

Merlin is home to Australia’s largest mined rough diamond on record and has the potential to be the only producing diamond mine in Australia, following the closure of Rio Tinto's iconic Argyle mine.