Sandra-Escobar Project : Orex Minerals, Pan American Silver create joint venture
Orex Minerals and Pan American Silver will form a joint venture for the further exploration and development of the Sandra-Escobar Project in Durango State, Mexico, as per an announcement on 2 March, 2021.
Pan American Silver will be represented by its subsidiary Plata Panamericana in the joint venture called Empresa Minera Sandra-Escobar.
Orex Minerals and Pan American Silver will own stakes of 40% and 60%, respectively, in the new joint venture company with the former to be the initial operator.
The Sandra-Escobar silver and gold project is located 40km north of Tepehuanes and 180km north of the City of Durango.
It comprises the Sandra Property, which spans 6,335 hectares, and the smaller Escobar Property of 635 hectares.
Orex Minerals, Pan American Silver create joint venture for Sandra-Escobar Project. Photo courtesy of Tumisu from Pixabay.
Orex Minerals said that the work on the Sandra-Escobar Project will start as soon as it finalizes an initial program and budget with Pan American Silver.
Ben Whiting – President and CEO of Orex Minerals said: “This is an excellent opportunity to consolidate the majority of the mineral district. There are multiple precious metal targets, as well as the existing Boleras Silver Deposit. We at Orex look forward to working with Pan American to advance the Sandra-Escobar Project.”