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The latest announcement is out from Centenario Gold Corp. ( (TSE:CTG) ).
Centenario Gold Corp. has signed a Letter of Intent with Vector Factor S.A. de C.V. to acquire a 100% interest in the Los Reyes copper-gold project in Chihuahua, Mexico, a 45-hectare property hosting a highly prospective Cu-Au skarn target within the prolific Faja de Plata mining belt. The proposed deal gives Centenario an option to earn full ownership by initiating a minimum 1,000-metre diamond drill program, making staged cash payments totalling US$500,000 over five years, paying concession fees, and granting a 2% net smelter return royalty to the vendor, positioning the company to expand its presence in a proven and expanding mining district with strong local support and good infrastructure.
More about Centenario Gold Corp.
Centenario Gold Corp. is a Vancouver-based mineral exploration company focused on developing copper-gold projects in North America through its 100%-owned Mexican subsidiary, Durango Gold Corp. SA de CV. The company targets highly prospective skarn and carbonate replacement deposits in established mining belts, aiming to build a portfolio of copper-gold assets in Mexico’s productive Faja de Plata region.
Average Trading Volume: 7,705
Technical Sentiment Signal: Sell
See more insights into CTG stock on TipRanks’ Stock Analysis page.