Sonora Resources to Buy Group of Claims Surrounding Recently Purchased Silver Properties

By Joel ScanlonAug 20 2011

Sonora Resources has inked a letter of intent (LOI) to buy the claim groups contiguous to the newly purchased Ayones Property and 49 ha of the La Mazata Silver Mine in Mexico.

The President of Sonora has commented that this LOI signifies a key building block for the company’s future. This LOI provides a chance for the company to acquire the land areas that enclose the newly purchased mineral-rich Ayones property and La Mazata Silver Mine. Sonora considers that the gold and silver layers flow from the Ayones property to the nearby claim groups.

The contract has been prepared through Sonora’s Finder Plata, a Mexican subsidiary, and plans to buy a land package of 721 ha recognized as the Corazon claim groups. The property holds prospective gold and silver mineralization. The properties include the similar epithermal vein layer system as found and recognized in the significant workings of the La Mazata mine.

The possibility to increase the mineral resource calculation in the Corazon claims is very encouraging depending on the past production information from the La Mazata Mine merged with the diamond drill results of Grupo Mexico during 1988, which discovered five veins opening to the South East and almost vertically intact in the Corazon region.

Sonora is working thoroughly for closing the deal with the present property owners and is expecting an announcement regarding its completion at the earliest.