Citation Resources, a Canadian mining company based in Vancouver, has announced that the company has positioned a geological field crew at the Biricu Property located in Mexico’s Guerrero Gold Belt in Morelos State as well as inaugurated a reconnaissance exploration program.
Citation Resources has been granted permission from surface owners for an exploration activity in specific locations of priority interest located on the Biricu Property, Mexico.
The Biricu early-stage exploration program will be completed under the supervision of the technical consultant, David M Jones within 45 - 60 days. The exploration program will include rock chip sampling, reconnaissance mapping, systematic stream sediment sampling with a focus on identifying potential areas, which contain precious metals mineralization and help gain a superior understanding of the geological setting.
The findings from the reconnaissance and exploratory program will help in defining an advanced and more focused work program for Q3 of 2012.
The company has also entered into an assignment agreement with International Bethlehem Mining, Larry Aligizakis and Rainy Mountain Royalty. As per the terms of the Eva Kitto Option Agreement, Citation Resources has assigned all the obligations and rights to Aligizakis for $30,000 cash payment. The assignment agreement may be subject to the approval of TSX Venture Exchange.
Source: http://www.citationresources.com