- Candente Gold (TSXV:CDG) has sent a due diligence team to Mexico to assess the state of its newly acquired Mexican assets
- The Mexican properties include the San Dieguieto de Arriba processing plant and the past-producing El Dorado gold mine
- The due diligence team consists of an underground mining engineer, a mining engineer, the former plant manager of the plant and others
- The team will assess the scale of work that will be required to get the gold mine and plant back up to production
- Candente Gold Corp (CDG) is in the grey and is trading at C$0.025 per share
Candente Gold Corp (TSXV:CDG) has sent a due diligence team to the sites the company recently agreed to acquire from the Magellan Acquisition Corp.
Candente Gold Corp (TSXV:CDG) has sent a due diligence team to Mexico to assess the state of its newly acquired Mexican assets.
Both properties are located in the small western Mexican state of Nayarit, near the town of Acaponeta.
In April off 2020, Candente and Magellan signed a memorandum of understanding giving Canednte the right to earn up to 100 per cent of both properties.
The company has ventured to Mexico to access what equipment is on sight at the SDA plant, and to start developing a cost estimate to get the plant up and running.
The plant only shut in 2017, was operational for 10 years and has potential to treat around 200 tonnes of material per day. the plant briefly re-opened again in 2019 to process an approximate 600 tonnes of tilling samples.
The supplier of the ore at the time could not guarantee a full-time supply of material so the owner mothballed the plant.
The company is also keen to get to El Dorado to investigate the scope and scale of work that will be required to get the old gold mine back on its feet. El Dorado has a history of boutique mining, with mines running on the property from 1900 to 1990.
The company has been eager to get down to Mexico since it first signed the agreement but has been hamstrung due to coronavirus related border closures and travel restrictions that have swept North America.
Candente Gold Corp (CDG) is in the grey and is trading at C$0.025 per share at 2:25 pm EDT.