January 15, 2015 @ 10:32
AURYN Mining Chile SpA is pleased to announce the closing of the agreement between NUOCO and Medinah Mining Chile granting Medinah the right to a 100% ownership of the Las Dos Marias, Columbo and Mambo mining claims. The agreement triggers the complementary option/ JV agreement between Medinah and AURYN that will permit AURYN the opportunity to acquire an 85% interest in the properties by completing exploration and development expenditures including a minimum of 5,000 meters of diamond drilling.
AURYN will immediately construct a control grid over the Las Dos Marias gold-copper showings as a basis for detailed geological mapping and sampling. Previous geophysical data will be evaluated to determine if additional surveys are warranted prior to the final selection of drill targets. In conjunction with the detailed work at the Las Dos Marias showings, the Company will prospect the remainder of the property in a search for additional targets.
The addition of the Las Dos Marias/ Columbo/Mambo properties greatly enhances the opportunity for AURYN to identify economically viable mineral deposits in the Altos de Lipangue area.