Image source: Shutterstock

Highlights

  • The deal includes USD25,000 cash, 10 million shares, and an assumption of over USD651,000 in payables.
  • Bonus payments up to USD19 million tied to future resource milestones.
  • 50,000 meters of drilling required by 2029; Durango receives 12-month resale restriction on shares 

Roberto Resources Inc. (CSE: RBTO) has signed a binding letter agreement to acquire 100% of the Claudia gold-silver exploration project in Durango, Mexico, from Durango Gold Corp. The acquisition will be completed through the purchase of Cielo Azul Resources, a Durango subsidiary that holds the surface rights to the property. 

Under the terms, Roberto will pay USD25,000 in cash, issue 10 million common shares with a 12-month resale restriction, and assume liabilities of approximately USD651,453, which include payroll, third-party costs, and mineral concession fees. Additional contingent payments to Silverstone may total up to USD19 million based on the delineation of measured and indicated resources, with payments split between cash and shares. If no resource is published by the end of 2029, the project must be returned. 

Roberto will also assume a commitment to complete at least 50,000 metres of drilling by the end of 2029 and allow Silverstone to mine up to 130,000 tons from a specific shaft. A USD15,000 loan extended to Durango for transaction-related expenses will be deducted from the closing cash payment. Completion is subject to regulatory approvals and other customary conditions. 

The Claudia Project spans 11,876 hectares and hosts multiple gold-silver mineralized quartz-adularia veins, forming a structural complex approximately 11 km in length. The Aguilareña vein, previously developed via a 90-metre shaft, has been partially drill-tested with promising results. A 2021 campaign across 34 holes confirmed mineralization across multiple structures, with 70% of holes intersecting grades over 1 gpt gold equivalent. 

Roberto Resources Inc. is a Vancouver-based mineral exploration company focused on advancing copper-gold assets in Latin America. It currently holds an option to acquire 100% of the Janampalla Property in Peru, targeting high-grade mineralization in Manto-style systems.