Loading ...Fortuna Silver Mines (NYSE: FSM) (TSX: FVI) decided this week to move forward with a strategic cooperation agreement with Prospero Silver (TSXV: PSL) and exercised its right to be granted an option to acquire up to a 70% interest in the Pachuca SE project, located close to the historic mining city of Pachuca in Mexico’s central Hidalgo state.
To be able to do so, Fortuna has to spend $8 million in qualifying expenditures and complete a preliminary economic assessment, with a minimum spend of $1 million in the first year.
The 6,669-hectare Pachuca SE sits 24 kilometres SE of the city of Pachuca, along strike from the historic Pachuca-Real del Monte epithermal vein camp, one of the world’s largest epithermal precious metal deposits. According to Prospero, the local geology at Pachuca SE is typical of the high-level epithermal environment seen over the Pachuca-Real del Monte mines.
cont. http://www.mining.com/fortuna-silver-exercises-right-acquire-majority-stake-mexican-silver-project/