Metals Exploration has significantly expanded its footprint in Nicaragua, securing four new exploration concessions near its flagship La India Gold Project. The move signals a major boost to the company’s long-term growth strategy in the region.
The newly acquired concessions, covering a vast 64,400 hectares, come with a 25-year tenure, subject to standard government royalties of 3% and escalating annual surface rights fees. These fees start at a modest $0.25 per hectare in the first year, rising to $12.00 per hectare from year eleven onwards.
Intriguingly, the concession area encompasses the historically significant La Grecia site, a former gold operation, alongside several promising gold targets previously investigated by Newcrest Mining. Historical data from La Grecia reveals a low-sulphidation epithermal system boasting high-grade surface veins. Samples taken in the past have yielded impressive results, with assays reaching up to 97.42 grams per tonne (g/t) of gold and a substantial 695 g/t of silver.
Further exploration targets within the concessions include San Cristobal, where extensive surface vein mapping points to a similar epithermal setting; Dos Hermanos, featuring hydrothermal veining zones extending over 600 metres, with samples assaying up to 62.6 g/t gold and trench findings revealing 1.95 metres at 17.9 g/t gold; and Las Cruces, displaying widespread clay and oxide alterations indicative of a potential lithocap and underlying gold-copper porphyry deposit.
Metals Exploration is wasting no time in initiating exploration activities. Plans are underway to rehabilitate and thoroughly examine the historical La Grecia underground adit. Surface trenching will be conducted at La Grecia to meticulously analyse vein mineralisation and potential gold grades. Furthermore, mapping and soil sampling programmes are scheduled for previously unexplored areas within San Cristobal, Dos Hermanos, and Las Cruces.
The company’s immediate focus is on identifying and prioritising new drilling targets. The aim is to commence a maiden drilling programme in the latter half of 2026, contingent on the availability of suitable drill rigs.
Darren Bowden, CEO of Metals Exploration, expressed his enthusiasm: "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."
He added, "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."
Bowden concluded, "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."
Concession Terms Summary
| Term | Details |
|---|---|
| Tenure | 25 years |
| Government Royalty | 3% |
| Annual Surface Rights Fees | Year 1: $0.25/ha, escalating to $12.00/ha by Year 11 |
