Published: November 1, 2021 |

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NexGen Mining has entered into a non-binding letter of intent to acquire exploration and development company Electrum Copper for an undisclosed sum.

Electrum owns Candela and Don Indio Projects, which are situated in Mexico’s Coahuila State.

The Don Indio Project consists of 38km 17,372ha, while the Candela Project includes 400ha.

With a distance of 38km from the town of Cuatro Cienegas, the Don Indio Project has sediment-hosted copper-silver mineralization analogous to the Kupferschiefer deposits of central Europe.

Earlier work enabled to detect multiple showings expanding along 35kms and grading up to 35 percent copper and 1,650g per tonne silver.

With a distance of 45km east from the city of Monclova, the Candela Project includes a copper-gold-molybdenum-rich breccia pipe, which is expected to hold larger-scale skarn and porphyry-style mineralisation.

Based on the earlier exploration and development, the property is expected to hold significant potential for near-term production. The company aims to carry out further exploration at the property to establish a significant resource base.

“We believe that Electrum brings high quality projects, a strong leadership team with great vision, and project and geographic diversification that will enhance our portfolio of projects and that we believe will enhance our ability to implement our business plan,” said NexGen Mining President and CEO Marc Andrews.

Upon the completion of the deal, the company’s board of directors will include five members, of which four will be designated by Electrum and one will be designated by NexGen.

NexGen will select a president and CEO satisfactory to Electrum, while Marc Andrews will be appointed as business development vice president and Kim Neal as controller.

Source: NS Energy

About NexGen Mining
NexGen Mining, Inc., a junior mining company, engages in the exploration, mining, and production of precious metals. The company primarily explores for gold, silver, copper, lead, zinc, and other precious and base metals. It holds interests in the Old Dominion mine situated north of Reno, Nevada; the Koegel Hills property that consists of 10 unpatented claims encompassing 200 acres located in Mineral County, Nevada; the Four Mile Basin gold property, which comprises two unpatented claims consisting of 20 acres and is situated in Nye County, Nevada; the Gold Star property located in Mineral County, Nevada; and the Pyramid mine located Nevada, as well as in the Paradise Peak mine.

To stop by NexGen’s website, CLICK HERE

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