Golden Rim Resources Ltd (ASX:GMR) has extended the closing date for the acquisition of an advanced silver-lead-zinc-copper project in Chile.
The acquisition, which was flagged in May of a subsidiary of London listed Herencia Resources plc would see Golden Rim hold mineral concessions at the Paguanta silver-lead-zinc-copper project in northern Chile.
The Patricia Prospect hosts mineral resources of 4.4 million tonnes at 3.7% zinc, 1.4% lead, 84 g/t silver and 0.2 g/t gold at 2% zinc cut-off.
More than 40,000 metres of drilling, predominantly diamond drilling, has been conducted at Paguanta.
The majority of a Feasibility Study for Paguanta has been completed.
Past expenditure on the project is a heady US$31.5 metres (A$43m2), proving an opportunity for Golden Rim given the acquisition price.
The proposed acquisition price is US$1.5 million cash plus shares upon a decision to mine.
The closing has been extended to 13 June 2016.
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