Lida acquires properties by staking initial mineral claims, negotiating for permits from government authorities, acquiring mineral claims or permits from existing holders
Lida Resources is pleased to announce that it has acquired a strategically important land position between its wholly-owned San Vincente and Quiruvilca Mines in Santiago de Chuco, La Libertad, Peru. The Company’s expanded land holdings are comprised of 13 additional properties (the “New Properties”) which are expected to provide the Company with additional prospective ground for exploration and further operational flexibility. The New Properties were acquired for an aggregate of US $8,500 cash.
As conditions on the ground allow, the Company plans to advance the New Properties by: Advancing legal permitting required for operation on the New Properties;
Engaging with local community groups and surface rights holders in the local area;
Completing surface geological mapping, prospecting and geophysics to confirm and identify new mineralized veins and structures within the Capulpuy Volcanic Group which is expected to continue between the San Vicente and Quiruvilca; and
Follow up any identified mineralized veins and geophysical targets with a drilling program.
Leonard De Melt, CEO of Lida stated, “Following on our recent acquisition of the Quiruvilca Mine, the acquisition of this land package allows us to consolidate our position between San Vicente and Quiruvilca. We look forward to exploring the extent to which there are zones of mineralization which connect these two past producing mines.”
George C. Sharpe, P.Geo, has reviewed and verified all technical and scientific information contained in this news release and is a Qualified Person within the meaning of NI 43-101.
Source: Company Press Release