Bocana Resources Corp. (TSXV: BOCA | Frankfurt: VC1) announced that it has entered into a binding letter of intent, dated July 24, 2025, to acquire 100 % of the rights, title, and interests in 72 Bureau of Land Management placer mining claims in Pinal County, Arizona, from LP Associates, LLC, through its newly formed Nevada subsidiary, Arizore LLC, for a total consideration of US$27.5M (including a US$200,000 deposit applied toward the purchase price).
The claims, covering approximately 1,440 acres in two contiguous blocks about 85 miles southeast of Phoenix, boast historical NI 43-101 technical reports on four claims, including LPA4-04, which averaged 4.6oz/t gold and 1.9oz/t silver from six auger holes to ten-foot depth, although further bulk sampling and due diligence will be required to confirm results.
The transaction is subject to a definitive agreement, financing, satisfactory due diligence, and regulatory approvals, including from the TSX Venture Exchange, and will be treated as a “fundamental acquisition” under TSXV policy, with no finders’ fees being paid.
To find out more, please visit www.bocanaresources.com
To read more articles like this, please visit www.theassay.com/news
