Auroch Minerals Ltd. said March 27 that it signed an option to earn up to a 75% interest in the Alcoutim copper-zinc project in southeastern Portugal.
The company must spend approximately A$1.4 million to earn a 65% interest in the project, which is owned by a private interest. It also holds an option to earn an additional 10% interest by spending a further about A$1.3 million.
Auroch said the project is immediately along strike of Lundin Mining Corp.'s Neves-Corvo copper mine.
The company is planning five diamond drill holes for a total of 5,600 meters, with work scheduled to start in the second quarter.