The drilling will be executed under an agreement between Paget Minerals and Sundance with Falcon Perforaciones of Hermosillo to carry out the drilling under supervision of the company’s geologists.
Paget Minerals is expected to earn a 51% initial interest in the property for incurring C$5,500,000 ($550,000) in exploration costs over the next four years.
The company will also stand to earn an additional 9% interest, for a total of 60%, by completing a pre-feasibility study within another three years.
Sundance has a portfolio of 14 properties in Mexico and one in Nevada, most of which are available for JV’s. Technical information including geology, geochemistry, and geophysics is available for all of them.
