Mirasol Resources Ltd. announces that it has signed an exploration option agreement with Coeur d Alene Mines to explore and develop Mirasol’s 100% owned Nico Project, located in the Deseado Massif gold-silver epithermal district of Santa Cruz province, southern Argentina.
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The terms of the agreement provide that Coeur spend US $2.3 million in exploration over four years to earn a 55% interest in the property, and a 65% interest on completion of a bankable feasibility study, at which time Mirasol may elect to maintain a 35% participation. Coeur may acquire a 75% interest by providing project development financing at commercial terms to Mirasol. Additionally, during the exploration period Coeur will make cash payments totaling US $250,000 to Mirasol and act as project operator.
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The terms of the agreement provide that Coeur spend US $2.3 million in exploration over four years to earn a 55% interest in the property, and a 65% interest on completion of a bankable feasibility study, at which time Mirasol may elect to maintain a 35% participation. Coeur may acquire a 75% interest by providing project development financing at commercial terms to Mirasol. Additionally, during the exploration period Coeur will make cash payments totaling US $250,000 to Mirasol and act as project operator.
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