Canada-based explorer SilverCrest Metals has acquired the El Picacho property, near its Las Chispas project in Sonora, Mexico.

SilverCrest paid $1.6-million for a 100% ownership in 11 mining concessions of the property, totalling about 7 060 ha.

“We first looked at acquiring Picacho in 2016, after the sale of SilverCrest Mines (SilverCrest’s predecessor) in 2015, as a continuation of our regional exploration programme on search of a new district containing multiple precious metal epithermal veins.

“After four years of patience, we have now acquired the next district,” said CEO Eric Fier.

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