Rosita Mining begins drilling on Nicaragua site

Toronto-based Rosita Mining Corp. recently began drilling on the Rosita-D Concession in Nicaragua, a 2,500-meter reverse circulation drill program with 1,050 meters of infill drilling with a goal to increase stockpile.

The cost of the drill program is expected to fulfill a four-year, $4 million option.

"We are excited by the important multiple technical and corporate objectives of this drill campaign," Craig Pearman, president and CEO of Rosita Mining, said. "Most significantly this drill program will advance our understanding of the economic potential of the Rosita project."

The Rosita project is in the Region Autonoma Costa Caribe Norte (RACCN) autonomous region, Nicaragua, and is located 275 air kilometers northeast of the capital city of Managua and 120 kilometers west of the port town of Puerto Cabezas.

A reverse circulation drill contract for a minimum of 2,500 meters has been signed with Aquatec De Nicaragua S.A. (for Continental Drilling S.A.).

The company is predicting the completion of the fourth and last phase of the expenditure requirement ($1.5 million) to be incurred in a drill campaign. The drill program is budgeted to cost a maximum of $275,000.

Organizations in this story

Rosita Mining Corporation 120 Adelaide Street West, Suite 2400 Toronto, Ontario Canada M5H 1T1 ,

Get notified the next time we write about Rosita Mining Corporation!