Canadian miner Fortuna Silver Mines has completely acquired Taviche Oeste Concession by making an option payment of $6m for the purchase of the remaining 45% interest in the project.
Taviche Oeste concession which contains the Trinidad North discovery is located in Mexico. With this acquisition, the company is planning to continue the exploration works at the Trinidad North discovery that remains open to the north and to depth.
Commenting on the developments, Fortuna Silver president and CEO Jorge Ganoza said that the acquisition of the project is a wise decision looking at the exploration success at Trinidad North.
"We expect to announce initial resource estimation for Trinidad North during the fourth quarter of 2013," added Ganoza.
Fortuna expects to commence production at the mine by early 2015.