- Kingsmen Resources (KNG) acquires 342-hectare claim next to its 100 per cent owned Las Coloradas project in Mexico’s Parral mining district
- The claim was purchased from an arm’s length vendor independent of the company and the vendor of the Las Coloradas project
- The new claims will now form a part of the Las Coloradas project
- Historic mining at the Las Coloradas project includes high-grade vein, silver-gold-lead-zinc-copper
- Shares of Kingsmen Resources (KNG) are unchanged at C$0.34 on Tuesday
Kingsmen Resources (KNG) acquires a 342-hectare claim next to its 100 per cent owned Las Coloradas project in Mexico.
The company said the claim was purchased from an arm’s length vendor that is independent of the company and the vendor of the Las Coloradas project.
The new claims will now form a part of the Las Coloradas project and give the company significant control in the Parral mining district in Mexico.
According to a statement, the claim covers prospective geology and structural geophysical targets. A prominent northeast structural trend has also been indicated in the geology.
“The acquisition is in line with our aggressive strategy to become the pre-eminent explorer in this historic mining district,” Scott Emerson, president of Kingsmen Resources, said in a statement.
Historic mining at the Las Coloradas project includes high-grade vein, silver-gold-lead-zinc-copper. The Las Coloradas mine also has similar geology to the Parral mining district where vein mineralization goes to depths of 600 to 1,000 metres.
Kingsmen Resources is focused on exploration and development in the Parral mining district of Mexico.
Shares of Kingsmen Resources (KNG) are unchanged at C$0.34 on Tuesday.