en.Wedoany.com Reported - Mercado Minerals Ltd. announced the signing of two letters of intent to acquire two adjacent epithermal silver-gold projects located within the San Dimas mining district in Durango, Mexico. The transaction will enable the company to consolidate a district-scale opportunity covering 4,617 hectares, with a cumulative structural strike potential exceeding 6.5 kilometers along the Sierra Madre Occidental silver-gold belt.
The San Dimas mining district is recognized as one of the highest-grade epithermal systems in Mexico, with historical production estimated at over 766 million ounces of silver and 11.1 million ounces of gold as of December 2024. The acquired projects are located within the same structural zone as First Majestic Silver's Tayoltita mine.
The acquisition involves two specific projects. The San Rafael project covers 1,004 hectares and features a 4.5-kilometer fault structure with intermittent vein mineralization and historical underground mining; previous sampling results from the La Esperanza level showed 316 g/t silver and 22.08 g/t gold over 1.4 meters, and the asset already has existing infrastructure including roads, a camp, and an airstrip. The La California project covers 3,613 hectares with cumulative vein lengths exceeding 2 kilometers, an average width of 4 meters (up to 10 meters maximum), and historical trench sampling showed up to 380 g/t silver and 1.28 g/t gold over 2.5 meters.
Both assets are available for 100% interest through five-year option agreements. The total consideration is expected to be C$5.6 million in cash, with most payments concentrated in the later stages of the agreements, and the letters of intent do not involve any net smelter return (NSR) royalties. Mercado Minerals CEO Daniel Rodriguez stated that acquiring assets in a district that has already produced hundreds of millions of ounces is an ideal value creation opportunity, and the company has advanced to the due diligence phase.
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