Riverside Resources has signed an option agreement for its wholly-owned Libertad Gold project in Sonora, Mexico, with mineral producer Geologix Explorations.
Geologix can earn up to 60% interest in the gold project by investing $3m in exploration and paying another $400,000 to Riverside over four years.
During the option, Gologix will take over all underlying property payments and claim maintenance fees, Riverside said.
Geologix can gain a further 25% by investing another $2m in the project and making an additional $500,000 within two years.
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