Foundation Acquires 70% Interest in a High-Grade Gold-Silver Project in Mexico

Foundation Resources Inc. (TSXV:FDN,FRA:52F) announced it will acquire a 70% stake in the San Rafael gold-silver Project in Mexico.

The press release is quoted as saying:

The Property hosts a past producer, the San Rafael Mine (gold-silver), which consists of four levels, totaling about 400 metres of development, plus other short adits in other parts of the property.

Paul Chung, CEO, says:

“We are very pleased with the recent acquisition of the Mitchell project in the Red Lake Mining District of Ontario and the San Rafael project in Durango State, Mexico, which is a very significant step towards building a precious and base metal portfolio to enhance share holder value.”

Click here to read the entire news release.