Gleichen Resources Ltd. has announced that drilling is underway at its 100% owned Morelos Gold Project in Mexico, with its first exploration hole nearing completion. Gleichen intends to ramp up its program through the addition of one rig every two months to reach a total of up to four drill rigs actively working on the property this year. Initial results are expected to become available by mid-summer.
Newstrike Capital recently announced it has entered into an agreement to acquire a 100% interest in certain mining concessions situated in Guerrero State, Mexico, referred to as the “Ana Paula Properties” from Desarrollos Mineros San Luis, S.A. de C.V. (“DMSL”), a wholly-owned subsidiary company of Goldcorp Inc.
Located within the Guerrero Gold Belt, the Ana Paula Properties consist of four claims that in total aggregate 7,622 hectares (ha). The most advanced of these claims has been subject to 3,689 metres of drilling by Goldcorp.
The Guerrero Gold Belt Gold Belt is a significant emerging gold mining district hosting Goldcorp’s Bermejal, Nukay and Los Filos deposits and Gleichen Resources Morelos Gold project.
The pending acquisition of the Ana Paula Properties will extend Newstrike’s strategic footprint within the Guerrero Gold Belt beyond the current 81,000 hectares of highly prospective mineral claims in the immediate area.