Santa proposes to pay $1.5m and offer 30% stake to South America-based Gold Plata, for the acquisition.

The copper-gold-molybdenum concessions of the project cover an area of 160 km2between the Murindo municipality, Department of Antioquia, and the Carmen del Darien municipality, Department of Choco.

Santa Fe Metals CEO Ian Smith said, "Murindo may be one of the only known porphyry systems in the world that remains untested. We believe that materially reduced political tension in the area will enable us to push forward with a full evaluation of this exciting, as yet undrilled prospect."