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Geologix Explorations Accelerates Final Option Payment to Buy Tepal Property

By Joel ScanlonApr 11 2011

Geologix Explorations has released the closing option payment of US$2.3 million property because of the primary vendor and acquires a 100% interest in the 138 km² property package in Michoacán state, Mexico, in relation to the property purchase agreement with Arian Silver that was announced formerly.

The company has completed this deal in advance and achieves 100% possession of this key land package. Geologix has focused on the newly announced resource estimate and is awaiting the preliminary economic assessment and has complete control and mineral claim to all the ground. Additionally, this property package embraces a significant amount of contiguous ground and the company will concentrate on the current exploration and resource extension programs.

Following the option acquisition from Arian, Geologix has optioned a further 34 km² at Tepal depending on an individual primary option agreement. So far, no exploration work has been performed on this additional ground.

Source: http://www.geologix.ca/

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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APA
Scanlon, Joel. (2019, March 19). Geologix Explorations Accelerates Final Option Payment to Buy Tepal Property. AZoMining. Retrieved on April 29, 2024 from https://www.azomining.com/News.aspx?newsID=3895.
MLA
Scanlon, Joel. "Geologix Explorations Accelerates Final Option Payment to Buy Tepal Property". AZoMining. 29 April 2024. <https://www.azomining.com/News.aspx?newsID=3895>.
Chicago
Scanlon, Joel. "Geologix Explorations Accelerates Final Option Payment to Buy Tepal Property". AZoMining. https://www.azomining.com/News.aspx?newsID=3895. (accessed April 29, 2024).
Harvard
Scanlon, Joel. 2019. Geologix Explorations Accelerates Final Option Payment to Buy Tepal Property. AZoMining, viewed 29 April 2024, https://www.azomining.com/News.aspx?newsID=3895.