Northwire Canada EditionFriday, November 13, 2026
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M&A / Property

Centenario enters LOI to option Los Reyes from Factor

By The Northwire Desk — AI Analysis Jan 05, 2026 · 17:56 CTG · 0.125 Centenario Gold Corp.
CTG · Price

Executive Summary

  • Centenario Gold Corp. signed a Letter of Intent (LOI) to acquire 100 % of the Los Reyes copper‑gold project in Chihuahua, Mexico, via its subsidiary Durango Gold Corp. SA de CV.
  • The LOI requires an initial cash payment of US$15,000 by Dec 31 2025 and the commencement of a minimum 1,000 m diamond drill program within six months to trigger a final purchase‑option agreement.
  • Upon successful drilling, Centenario will pay the balance over five years and grant a permanent 2 % royalty on production to Vector Factor SA de CV.

Key Details

  • Target Asset: Los Reyes project – two mineral concessions covering 45 ha in a high‑grade copper‑gold skarn district (Faja de Plata, north‑central Mexico).
  • Initial Consideration: US$15,000 cash payable on or before 31 Dec 2025.
  • Drilling Condition: Minimum 1,000 m diamond drilling to be initiated within six months of LOI execution; results must be received and evaluated within 45 days.
  • Option Exercise: If drilling is deemed successful, Centenario may enter a final project purchase‑option agreement for the remaining consideration.
  • Payment Structure: Remaining purchase price payable in annual installments over five years (terms not disclosed).
  • Royalty: Permanent 2 % royalty on all production to be paid to Vector Factor SA de CV; Factor will forward its share to Minera Cascabel SA de CV per a prior agreement dated 11 Feb 2014.
  • Exploration History: Prior 2019 Valterra Resources program included a 4.8‑km DCIP geophysical survey, surface mapping, and sampling; 22 of 28 samples showed >1 % Cu (average 3.1 % Cu) with up to 5.9 % Cu and notable Au (0.57 g/t), Ag (25.3 g/t), Mo (0.47 %) and Zn (1.7 %).
  • Qualified Person: Derrick Strikland, P.Geo., NI 43‑101 qualified, reviewed and approved technical disclosure.

Notable Quotes

“We are very excited about the acquisition of the Los Reyes project; it helps to back up our decision to work on developing copper‑gold projects in North America. We are planning a drill program for the new year to test the historical information that we have on the project.” – Doug Fulcher, President & CEO, Centenario Gold Corp.

Read the original news release →

More from Centenario Gold Corp.

Nov 12, 2026 · 06:00

Centenario confirms skarn targets at Los Reyes, with economic grades awaiting assay results.

Drill Results Nov 05, 2026 · 06:00

Centenario extends the Cabot trend past 850m and plans a 1,500m drill program for late November 2026.

Drill Results Sep 28, 2026 · 06:00

Centenario’s maiden drilling at Los Reyes validates targets despite dilution and going-concern risks.

Drill Results Aug 28, 2026 · 06:00

Centenario raises $1.5m at $0.10 to fund exploration at its Mexican and Newfoundland projects.

Financings Aug 07, 2026 · 06:00

Centenario’s discounted $0.10 financing extends its runway but deepens dilution and going concern risks.

Financings Jul 13, 2026 · 06:01

Centenario’s Los Reyes sampling confirms high-grade Cu-Mo-Au skarn, with a drilling program scheduled to commence in August.

Drill Results