NSX Silver Inc. (TSXV:NSY) announced that future exploration efforts will be focused on its three wholly-owned mining concessions Oso Blanco, Oso Blanco 2 and Piedras del Norte, located in Sonora State, Mexico. The Dios Padre Property has not yet delivered the makings of an economic deposit, and the Company will be terminating the option agreement. This has been a result of a strategic review of the Company’s Mexican exploration property portfolio, taking into consideration the exploration results generated to date and an evaluation of the risk-reward profile associated with undertaking further exploration for each of its mining concessions. NSX Silver also announced the acquisition of two mining concessions in the central portion of Sonora State, with the decision based on the favorable geology of the region and the highly anomalous values for silver and gold which occur in vein systems in the area.
As quoted in the press release:
The work completed on these concessions to date has identified several mineralized zones which NSX Silver’s technical consultants consider to have excellent potential for further discoveries.
With respect to the Dios Padre Property, comprised of the Dios Padre, Dos Carlos and Alajandro mining concessions totaling 285 hectares, while the 2012 and 2013 drill campaigns generated multiple high grade silver intercepts, it has not as yet delivered the makings of an economic deposit and accordingly NSX Silver has informed the property owner that it is terminating the option agreement.
NSX Silver also announces that it has acquired two new mining concessions totaling approximately 800 hectares in area, by way of application to the Mexican government. These concessions are located in the central portion of Sonora State.