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Regulatory authorities have approved Vancouver-based junior Aurcana Minerals' option to earn up to 60% in the 11,200ha San Carlos copper-gold property in northeast Mexico's Tamaulipas state, the property's owner Vancouver-based exploration firm Fairfield Minerals announced.
San Carlos hosts several gold-copper targets, including the Magnum zone, a magnetic anomaly defined by airborne reconnaissance.
Porphyry and skarn mineralization have been detected on the property which was mined from the San Jose mine camp early last century. Samples taken from mine dumps returned values up to 114.25g/t gold, 7.7% copper and 15.4g/t silver.
Fairfield now expects Aurcana to undertake more surface exploration work, including mapping and sampling.