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Southridge Minerals Signs LOI to Purchase 80% of Los Compadres Property

By Joel ScanlonApr 20 2011

Southridge Minerals, a wholly owned subsidiary of Southridge Enterprises, has entered into a binding letter of intent (LOI) to buy 80% of the Los Compadres Gold and Silver property.

This property is situated in an extremely potential region of Santa Maria del Oro in Nayarit, Mexico. The company anticipates to sign the definitive agreement by May 15, 2011 subsequent to the due diligence phase.

The property comprises 3,900 hectares. The results vary from 176 to 1,825 g/t silver and 2.13 to 20.94 g/t gold from the prior sampling. The company examines for mineralization in a separated area and covers a distance of above 4 km in a parallel direction. This direction goes from 800m in the El Liso region till 1600m in Las Olas zone.

The location of Los Compadres region is approximately 35 km southeast of the Tepic city.

Source: http://www.southridgeminerals.com/

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). Southridge Minerals Signs LOI to Purchase 80% of Los Compadres Property. AZoMining. Retrieved on May 19, 2024 from https://www.azomining.com/News.aspx?newsID=3954.
MLA
Scanlon, Joel. "Southridge Minerals Signs LOI to Purchase 80% of Los Compadres Property". AZoMining. 19 May 2024. <https://www.azomining.com/News.aspx?newsID=3954>.
Chicago
Scanlon, Joel. "Southridge Minerals Signs LOI to Purchase 80% of Los Compadres Property". AZoMining. https://www.azomining.com/News.aspx?newsID=3954. (accessed May 19, 2024).
Harvard
Scanlon, Joel. 2019. Southridge Minerals Signs LOI to Purchase 80% of Los Compadres Property. AZoMining, viewed 19 May 2024, https://www.azomining.com/News.aspx?newsID=3954.