By David Cole
Coeur d’Alene Press
COEUR d’ALENE – Hecla Mining Co. said Monday it has entered into an agreement to acquire 14 million shares of a resource exploration company based in Canada for about $2.5 million.
The acquisition will give Hecla control over approximately 15 percent of the outstanding common shares of Canamex Resources Corp. Hecla will appoint one representative to Canamex’s board of directors and will provide technical assistance.
Canamex is focused on the exploration of two gold properties, the Bruner gold project located in Nye County, Nevada, and the Aranka North gold project located in Guyana, in northern South America.”Hecla is pleased to be able to make a strategic investment in Canamex to participate in the re-emergence of a historic Nevada gold district with outstanding exploration and development potential,” said Hecla President and CEO Phillips S. Baker Jr.