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Plata Latina Minerals (TSXV: PLA) entered into an agreement of assignment of mining concessions with Minera Argentita Exploracion, a wholly-owned subsidiary of The Electrum Group, with respect to Plata Latina’s three exploration properties in Mexico.
The assets at hand include the Vaquerías, Palo Alto and La Joya properties.
By May 20, 2020, Electrum will have the right to exercise its option to acquire any or all of the three exploration concessions
The deal entails that Electrum pays Plata Latina $100,000 for each property that it exercises the option for. Payments must be done within four months of the signing of the agreement.
The Vaquerías property is situated in the state of Jalisco, northwest of the Guanajuato Mining District and consists of two federal exploration concessions, totalling 4,411 hectares in area.
Palo Alto, on the other hand, is located in the state of Aguas Calientes, also northwest of the Guanajuato Mining District and consists of three federal exploration concessions, totalling 4,722 hectares, which are valid until 2061 to 2062.
Finally, the La Joya property is located in the state of Hidalgo, southeast of the Guanajuato Mining District and consists of one federal exploration concession, totalling 924 hectares.
