Hispania Acquires Otero Property in Castille y Leon, Spain

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Toronto, Ontario--(Newsfile Corp. - November 22, 2023) - Hispania Resources Inc. (TSXV: ESPN) ("Hispania" or "the company"), a mineral exploration company focused on Spain, is pleased to announce that it has completed on November 10th the acquisition of the Otero Property, after a period of negotiation and execution with the vendor. The acquisition of the Otero Concession located in Castille y Leon, Spain.

  • The Property is officially known as: "C.E. SEGOVIANA OESTE" (nº registro minero de Segovia 864-A-11, also known as "Otero") and consists of 5 km2 (500 Hectares) made up of 16 mining claims. The property has a mining history dating back to Roman times with many features consisting of mineral operating work sites and drill evidences readily available.

  • Hispania acquired the Otero property through the liquidation of Siemcalsa, a former mineral enterprise owned by the administration of Castille y Leon. Hispania was able to proceed quickly and won the bid for Otero at a price of just under 1,000,000 Canadian Dollars.

"We are extremely happy to have acquired a property of the quality of Otero. I personally have known about the property for some time, and was pleased to know that Siemcalsa was open to receiving offers on it late last year," commented Norm Brewster, CEO of Hispania. Hispania completed diligence and negotiations over the past 9 months and has now acquired the property formally. "The Otero property has the capability to be an incredible opportunity, as evidenced by its history, dating back to the Roman periods. We look forward to working on this copper, zinc, silver rich property and working with our local stakeholders in Spain who are supportive of our acquisition," commented Mr. Brewster.

The Otero property hosts a Cu-Sn-Zn-Au-W polymetallic Skarn deposit.
The base is a high-temperature calcic skarn strongly retrograded by tectonic effects.
The genetic sequence is as follows:

Chloritization

Chlorite alteration (Clo +Fl +Qtz +

 

Late mineralization (remobilization)

 

Mineralization contained in the Central Portion and the most important Levels follows

M Level (68 % of total resources)

 

I level

 

2.5 Mt @ 0.70 % Cu

 

1.0 Mt @ 0.22 % Cu

 

26g/t Ag         2.36 Cu equiv

 

12 g/t Ag         2.05 Cu Equiv.

 

1.46 % Zn

 

0.47% Zn

 

0.23 %SnO2

 

0.18% SnO2

 

0.04%WO3

 

0.21%WO3

 

+0.9 Mt inner potential

 

+0.7 Mt inner potential

 

+0.4Mt external potential

 


 

3.8 Mt Total

 

1.7 Mt Total