Fortuna Silver signs option agreement to earn stake in Mexico project

Precious metals mining company Fortuna Silver Mines and its subsidiary Compania Minera Cuzcatlan (CMC) have entered into an option agreement to earn up to an 80% interest in the Taviche silver project, in Oaxaca, Mexico, from TSX-listed Gold79 Mines. Under the terms of the agreement, CMC will act as operator of the project and can earn an initial 60% interest in the project by making cash payments of $450 000 to a subsidiary of Gold79 Mines, as well as incurring $4-million in work expenditures over a three-year period.