Bocana extends LOI on Arizona mining claims

Executive Summary

• Bocana Resources Corp. has extended the Letter of Intent (LOI) for its Arizona placer mining claims by an additional 60 days.
• The extension is contingent upon an additional advance payment of $50,000 USD to the seller, LP Associates LLC.
• The extended period allows Bocana to secure necessary exploration permits from the U.S. Bureau of Land Management and conduct bulk sampling and pilot processing to test metallurgical properties and recovery rates.

Key Details

• Transaction Extension: The LOI for the Arizona placer mining claims owned by LP Associates LLC has been extended by 60 days.
• Financial Consideration: An additional advance payment of $50,000 (U.S.) is required to secure the extension.
• Operational Objectives: The extension facilitates:
  • Securing an exploration permit from the U.S. Bureau of Land Management (if necessary).
  • Conducting a larger bulk sampling of the ore.
  • Processing materials through a temporary, off-site pilot processing plant.
• Technical Scope: The bulk sampling is an advanced exploration activity designed to investigate:
  • Metallurgical properties of a representative ore sample.
  • Extractive milling procedures and mill equipment.
  • Processing methods and recovery rates.
  • Potential markets.
• Post-Processing: Processed ore will be sent for assay analysis.
• Other Terms: All other terms and conditions of the original Letter of Intent remain unchanged.