Angel Wing Metals Acquires La Reina Claim Group
Angel Wing Metals announced it acquired the La Reyna claim group. This new addition expands the company's control over mineral rights through the El Grande Project in Nayarit, Mexico. La Reyna is a significant strategic acquisition, with a large portion of the area showing significant clay, silica and iron oxide alteration and historical mine workings where outcrop exposure is present.
The La Reyna claim group is located within the Aguila de Oro District, which is being explored and mined for epithermal porphyry and Iron Oxide Copper Gold (IOCG) type deposits of gold, silver and copper. According to Bryan Wilson, President and CEO, Angel Wing Metals, the acquisition has consolidated a major district-scale opportunity in Mexico as it is located near recent mineral discoveries. “Early surface exploration results received thus far demonstrate the presence of high-grade gold and silver mineralization in structural trends over more than 40 km2. We look forward to initiating a maiden drill program on the properties, to make discoveries in the region,” he added.
The acquisition of the La Reyna claim group means that the company now controls an aggregate of 655km2 of mineral rights consisting of the El Grande project in Nayarit. The El Grande project started exploration in 2022 after the company closed the Lago de Oro acquisition on Mar. 30, 2022.
Exploration efforts identified a significant area of hydrothermal alteration in a northwest-trending corridor, spanning 40km. The company has discovered multiple vein fields within this corridor, with cumulative strikes totaling approximately 8km and initial assays indicate the presence of gold mineralization. The mineralization is believed to have the potential for further extension in all directions.
According to exploration results, highly anomalous gold and silver mineralization may be present as more than 300 samples returned gold excess of 0.1g/t of gold. Similarly, 70 samples presented over 1g/t of silver. Another 41 samples presented grades greater than 2g/t
Angel Wing Metals said that it is also working on building long-term bonds with surrounding communities. The company said it entered 14 agreements with relevant ejidos that control surface access to the El Grande project. These agreements are for a minimum of a 5-year term, with the possibility of extending them. The company believes it will be enough to carry out exploration works.
Angel Wing Metals is a mining company focused on the exploration and development of its portfolio, which consists of Mexican and Canadian assets, with the El Grande Project being its flagship development.