Silver X Mining Corp. (TSXV: AGX | OTCQB: AGXPF | FSE: AGX) has entered into a definitive agreement to acquire 100% of the 7,712.5ha Pampas Gold–Silver Project in Huancavelica, Peru, adding a high‑grade, district‑scale exploration asset to its pipeline.
Historical sampling at Pampas has returned grades of up to 85.9g/t gold and 1,065g/t silver across a system of at least 36 mapped veins with strike lengths extending up to 2km. Despite extensive historical mapping, channel sampling and underground work, the project has never been systematically drill tested, and Silver X plans to initiate an initial 5,000m diamond drilling programme.
The acquisition complements the company’s producing Nueva Recuperada operation, establishing a larger regional footprint within the Central Andes polymetallic belt.
José M. Garcia, CEO of Silver X Mining, commented, “Pampas is exactly the type of asset we want to add to the Silver X portfolio — high grade, district scale and located in the same mining belt where we are already operating. With values reaching 85g/t gold and over 1,000g/t silver, Pampas clearly demonstrates the strength of the mineralising system and the potential to host higher‑grade zones. This acquisition strengthens our asset base in Peru and adds a new district‑scale exploration opportunity with significant discovery potential.”
Under the purchase terms, Silver X will acquire the project through staged payments totalling US$1.7M over 24 months, along with a 3% NSR royalty, half of which can be repurchased for US$1.5M within four years of production.
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