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Candente to consolidate ownership of El Oro gold project in Mexico

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Candente to consolidate ownership of El Oro gold project in Mexico

Candente Gold Corp. intends to take its interest in the El Oro gold project in Mexico up to 100%, it said Jan. 25.

The company, which has a 70% stake in the property, entered an agreement with Goldcorp Inc. subsidiary Desarrollos Mineros San Luis SA de CV to secure its 30% interest for a total of 5 million shares over a four-year period.

In March 2016, Candente granted Sun River Gold Corp. an option to earn a 51% interest in the tailings project at El Oro. Sun River was regularly making all required payments under the agreement, according to a Sept. 21, 2016, news release.