The Jalisco group of properties consists of a significant collection of mineral claims that encompass a centrally located and historically productive silver and gold district in Mexico.
The 5,240-hectare location consists of six prospective areas of interest and includes the Etzatlan, Amparo, La Calabaza and Piedra Bola mines which all participated at various rates of production typical for the exploitation technologies and economics of the era.
Sonora will issue ten million shares of common stock to First Majestic and spend $3m over the first three years to earn a 50% interest and $5m over five years to earn a 70% interest.
In order to obtain a 90% interest, the company is required to complete a bankable feasibility study within seven years.
