Almaden acquires Lucero's Reyna Negra claims/data
Lucero Resource Corp LCR
Shares issued 16,548,013 Oct 2 close $0.17
Tue 3 Oct 2000 News Release
See Almaden Resources Corporation (AMH) News Release
Mr. Duane Poliquin reports
Almaden Resources has signed an agreement with Lucero Resources whereby
Almaden has purchased Lucero's Reyna Negra claims and the data from an
airborne combined electromagnetic, magnetic and radiometric survey over the
Reyna Negra claims, and part of Alamaden's Caballo Blanco, Veracruz state,
Mexico, project. The survey's original cost was about $300,000 (U.S.).
Almaden paid $15,000 (U.S.) for 100 per cent of the claims and survey data
subject to a 2-per-cent net smelter royalty capped at $500,000 for any
production from the Reyna Negra claims. The Reyna Negra claims are tied on
to the Caballo Blanco claim group.
Almaden's Caballo Blanco project covers a large alkalic, volcanic and
intrusive system with significant alteration zones containing both
disseminated and vein gold and silver zones, and a porphyry-style
gold-copper zone. The Reyna Negra claims were staked as tie-on ground
adjacent to the Caballo Blanco property.
Almaden plans to start extending its Highway zone grid onto the Reyna Negra
property in mid-October. |
