Inomin Mines Inc. announced the execution of an agreement to acquire the La Gitana and Pena Blanca gold and silver projects in Mexico.

The company‘s properties are located approximately 100 kilometers east of the city of Oaxaca in the prolific Gold and Silver Belt of Oaxaca, which is home to several epithermal gold and silver mines and prospects.

La Gitana is an advanced gold-silver project in which initial core drilling has delineated a significant near-surface gold-silver epithermal system.

Pena Blanca, approximately 15 kilometers northwest of La Gitana, is a large tonnage epithermal gold-silver prospect discovered during a regional-scale stream sediment sampling program.

Inomin Mines

The properties are being acquired from Gunpoint Exploration Ltd.

The Oaxaca Gold and Silver Belt is a major northwestern-trending regional structure that is home to several operating precious metal mines and prospects, including Gold Resource’s Arista and Mirador gold and silver mines, and Fortuna’s gold and silver mines. Silver.

La Gitana Property

La Gitana is a large, low-sulfidation epithermal system that hosts gold and silver mineralization. Gold and silver mineralization at La Gitana is found in high-grade outbreaks in northwesterly trending subvertical structures and as low-grade disseminations within broad zones of quartz stockworks and breccias.

During 2004-2006, Chesapeake Gold Corp. conducted exploration at La Gitana including surface mapping, sampling, IP resistivity geophysics, as well as core drilling, primarily in the Cerro Di Oro area.

The Cerro Di Oro zone is one of the two sub-parallel mineralized alteration corridors trending to the northwest, delineated at a distance of 1 kilometer.

The drilling of 38 wells at Cerro Di Oro has defined a gold and silver mineralized epithermal zone measuring 500 meters long, 300 meters wide and 50 to 300 meters deep.

A stepped drill hole (DH-30) also discovered gold and silver mineralization approximately 300 meters to the south along strike.