Starcore International Mines Ltd. decided not to proceed with its proposed acquisition of the Santa Fe silver-gold project in Mexico after completing due diligence and a review of the property.
The company said June 11 that it notified Santa Fe's owners of its disengagement and does not hold any further obligations on the property.
Starcore entered into a letter of intent to acquire the 21,000-hectare project in November 2017.
"We remain open to looking at any opportunities they may bring to us from time to time that are synergistic with Starcore's goals," President and CEO Robert Eadie said.
The company added that it remains focused on its production-oriented projects in Mexico.
