Junior roundup: Rugby, Orex, Cornerstone

Vancouver's Rugby Mining entered into an option to acquire a 100% interest in a granted mining concession of 1,664ha in Colombia.

The firm, in a statement, said a field program "identified the San Antonio gold project for inclusion in the property portfolio."

The option agreement allows for a 60-day period to conduct legal and technical due diligence. Rugby will have the option to pay the private Colombian vendor a total of US$750,000 in staged payments over five years to earn 90% of the project. The remaining 10% can be earned by paying US$1mn in staged payments over two years.

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Vancouver's Orex Minerals is advancing a phase III diamond drilling program on the Sandra Escobar project in Durango state, Mexico, with highlights of the current batch of holes including 41m core length grading 108g/t silver, including 11m core length grading 237g/t silver, a release said.

The Sandra Escobar project is being advanced by Orex under an option agreement with Canasil Resources.

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Ottawa-based Cornerstone Capital Resources signed new drilling contracts to continue exploration at the Cascabel copper-gold project in Ecuador, in which the company has a 15% stake. Cornerstone contracted Hubbard Drilling and Major Drilling to carry out exploration appraisal and feasibility programs over the next four years, a statement said.