Ajax Resources (AQSE:AJAX) has agreed with Asara Resources to extend exclusivity to 15 May on the proposed acquisition of the Paguanta Project in Chile, with both parties working towards completion during that period.
Paguanta sits in the Tarapacá Region on the northern extension of the West Fissure and comprises 14 granted exploration licences covering about 7,800 hectares. The project hosts a JORC‑compliant Patricia Prospect containing 6.8 Moz silver, 265 Mlb zinc and 74 Mlb lead, plus underexplored copper‑porphyry targets. Historical drilling totals 46,700 m and past operators spent roughly US$31.5m; a purpose‑built exploration camp is onsite.
The announcement discloses no purchase price or funding plan. An adjacent asset, the Loreto Copper Project, is subject to an option and JV with Teck under which Teck may earn 75% via US$0.6m in cash and US$17m of exploration spend.
"Paguanta has the characteristics of a near‑producer silver asset," Ajax said. The company highlights existing mine workings, a defined resource and established access as the factors that support potential near‑term development, subject to further technical studies, permitting and financing. Completion is being targeted within the extended exclusivity window.
