Metals Exploration has secured four exploration concessions near the La India Gold Project in Nicaragua.
These concessions encompass approximately 64,400 hectares (ha) and have been allocated for a 25-year period.
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The terms include a 3% government royalty and annual surface rights fees ranging from $0.25/ha in the initial year to $12.00/ha from the 11th year onwards.
The concession area includes historical gold operations at the La Grecia site and several other gold targets previously explored by Newcrest Mining.
La Grecia showcases a low-sulphidation epithermal system with surface high-grade veins, where historical samples reported up to 97.42 grams per tonne (g/t) gold and 695g/t silver.
San Cristobal has mapped multiple surface veins typical of similar epithermal settings.
Dos Hermanos has hydrothermal veining zones over 600m, yielding samples up to 62.6g/t gold and trench findings of 1.95m at 17.9g/t gold.
Las Cruces shows extensive clay and oxide alterations indicating a potential lithocap and underlying gold-copper porphyry.
Metals Exploration plans to rehabilitate and study the historical La Grecia underground adit.
Additionally, trenching will be conducted at La Grecia to analyse surface vein mineralisation and potential grades.
Mapping and soil sampling will be carried out in unsampled areas of San Cristobal, Dos Hermanos and Las Cruces.
The company will prioritise new exploration targets for drilling, aiming to begin the first drilling programme in the latter half of 2026, depending on drill rig availability.
Metals Exploration CEO Darren Bowden said: “Securing these concessions adjacent to our La India Gold Project further consolidates our position within the historical La India mining district, and marks another important step in strengthening the company’s long-term growth in Nicaragua.
“Our ongoing technical work has identified four high-priority targets, with encouraging historical results indicating the potential for future gold resources. While these new licences provide further exploration prospects for the company, our focus remains on advancing the La India Gold Project towards production, with first gold expected by December 2026.
“By prioritising near-term development and continuing to build a strong exploration portfolio, we aim to deliver on our immediate objectives while also supporting future resource growth. We look forward to providing further updates as construction activities on-site accelerate.”
