Casa Minerals Inc (TSX-V:CASA, OTC:CASXF) announced that it has staked 25 mineral claims, consisting of 494.5 acres, contiguous to its Congress Gold Mine property in Arizona, following successful inaugural drilling program since the mine shut down in the early 1990s.
The explorer and mineral properties developer said as a result of its recent staking activity, the company now owns the entire known extent of the prospective area of gold mineralization.
“We are extremely fortunate to have been able to acquire this 494.48 acre (25 claim) land package as it holds significant value for the company's overall Congress mine exploration and development plans,” Casa Minerals CEO Farshad Shirvani said in a statement.
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“The claims contain a historic ‘ore reserve’ that the company will endeavour to develop into a reportable NI 43-101 resource,” Shirvani added.
Casa noted the newly-staked claims in the northern portion of the property cover the previously unexplored probable extensions of the Congress and Niagara veins that supported the historic mine.
The company added that its exploration crews have identified target areas that if verified by on-going field and analytical work may comprise important new discoveries.
Casa Minerals is engaged in the acquisition, exploration and development of mineral properties in Canada and the US. It owns 90% interest in the Congress gold mine in Arizona.
In addition, Casa owns a 100% interest in the polymetallic Pitman and Keaper properties in British Columbia and has an option to acquire a 75% interest in the Arsenault VMS property in Canada.
Contact Sean at sean@proactiveinvestors.com