Tosca Mining Corp. (TSXV:TSQ,FWB:TQ4) announced it has signed a letter of intent to acquire the Red Hills Project in Texas.

The press release is quoted as saying:

Porphyry style molybdenum mineralization occurs within a circular latite porphyry stock of Laramide age and to a lesser extent with slabs of intruded sediments. A chalcocite blanket, developed below the oxide-sulphide transition zone, coexists with the molybdenum mineralization.

To read the full press release, click here.