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AM Resources commences exploration programme on La Esperanza project

Published by , Editor
Global Mining Review,

AM Resources Corporation is undertaking an exploration programme on its recently acquired La Esperanza asphaltite project located Norte de Santander in Colombia.

The main goal of the drilling programme will be to guide the corporation in its anticipated start in asphaltite production. Several targets have been identified on the property including geophysical anomalies (electrical resistivity tomography and time-domain electromagnetic method) and recently productive shallow underground workings. Drilling will be aimed at extending known zones of mineralisation as well as discover new zones. The secondary goal of the programme is to collect sufficient data to produce a 43-101 resources estimate on the property based on drilling as well as the near surface occurrences of asphaltite.

The corporation continues to be active on its other Rio Negro asphaltite project (exploration) and its Mina Luz coal project (production).

Grant of options

Lastly, the corporation announces it has granted incentive stock options to a director to purchase up to an aggregate of 300 000 common shares of the company (the options). The options are exercisable for a period of five years, at a price of US$0.10 per share. All options were granted in accordance with the corporation's stock option plan on 30 May 2019.

The technical and scientific content of this press release has been reviewed and approved by Pierre O’Dowd, P. Geo., the corporation’s qualified person under National Instrument 43-101.

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