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Aztec to acquire 75% interest in Baroyeca's silver properties in Arizona

Aztec Minerals Corp. on Dec. 18 entered into an option deal to acquire a 75% interest in a package of mineral properties in the Tombstone mining district of Arizona from Baroyeca Gold & Silver Inc. and its U.S. subsidiaries.

The properties include the historical Contention silver mine and surrounding patented claims covering a total of 163.5 hectares, with an additional 9.7 hectares of unpatented claims.

Under the terms, Aztec is required to pay C$100,000 in cash, issue 1 million shares and spend C$1 million on exploration over three years.

The deal remains subject to certain conditions precedent, including the approval of the TSX Venture Exchange.