Cerro Resources Acquires Espiritu Santo Gold/Silver Project

Cerro Resources NL (ASX:CJO,TSXV:CJO) announced its acquisition of the Mexico-based Espiritu Santo gold/silver project.

As quoted in the press release:

Highlights

• Exciting new gold/silver exploration project in a proven precious metal district;
• Acquisition of 100%, 5,800 ha project interest via 4-year, $US4million total option payment schedule aligning expenditure with project advancement/de-risking;
• Reconnaissance/initial target selection exploration to commence in October 2011;
• Continues to broaden and deepen the Company’s precious metals project portfolio in Mexico, in line with the Company’s core strategic focus on Mexico.