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Conditional Acquisition of the Rachaite Prospect
Ajax Resources PLC has entered into a conditional Option-to-Purchase Agreement for 100% of the Rachaite Prospect in Argentina, a polymetallic silver, lead, zinc, and copper/gold opportunity. Previous drilling by Alexander Mining plc confirmed anomalous silver, lead, and zinc mineralization, with assay results up to 15.3 g/t silver, 1.66% zinc, and 0.46% lead, and a zone grading 2.4 metres at 0.39 g/t gold. A historical estimate from 1985 suggested approximately 5 million tonnes of mineralized material, containing an estimated gross in-situ metal value exceeding US$2.3 billion based on indicative commodity prices. The agreement involves an initial US$20,000 payment in Ajax ordinary shares for the option, with a US$380,000 cash purchase price payable to exercise the option after 36 months from EIA approval, and a minimum investment of US$200,000 in exploration is required within that term. A 1% Net Smelter Return royalty is also included, which can be extinguished for US$250,000. The acquisition is subject to a 90-day due diligence period. Disclaimer*
About this update from Ajax Resources Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.\n22 December 2025\nAJAX RESOURCES PLC\n(\"Ajax\" or the \"Company\") \nConditional Acquisition of the Rachaite Prospect\nAjax [AQSE: AJAX], the natural resources investment company, is pleased to announce that its fully owned Argentine subsidiary, Puna Metals S.A. (\"Puna\") has signed a conditional Option-to-Purchase Agreement for 100% of the Rachaite Prospect (\"Rachaite\" or the \"Prospect\" ), a potentially large polymetallic silver, lead, zinc and copper/gold opportunity in north-western Argentina (the \"Proposed Acquisition\") with an established local mining company (the \"Vendor\").\n \n \nProposed Acquisition Highlights\n \n· Rachaite is comprised of a single exploration licence, named Mina Chocaya, covering approximately 200 hectares.\n· Rachaite was previously part of a larger prospect consisting of two additional contiguous exploration licences and was formerly owned and advanced by AIM-quoted Alexander Mining plc.\n· During 2005-2006, Alexander Mining Plc completed a diamond drilling programme in Mina Chocaya comprising a total of six diamond drill holes, each to an average depth of approximately 250 metres, which were drilled into the exposed altered andesitic body. The drilling programme confirmed the presence of anomalous silver, lead and zinc mineralisation, with assay results returning values of up to 15.3 g/t silver, 1.66% zinc and 0.46% lead. In the southern portion of the altered body, one drill hole intersected a zone grading 2.4 metres at 0.39 g/t gold at a depth of approximately 40 metres below surface.\n· The Prospect is a historical polymetallic exploration prospect located in the Province of Jujuy, north-west Argentina, within the high-altitude Puna region, in the vicinity of Abra Pampa. The area forms part of a recognised lead-zinc-silver (Pb-Zn-Ag) metallogenic belt that hosts a number of historically explored polymetallic occurrences.\n· The Prospect is located approximately 290 km north-west of San Salvador de Jujuy, the capital of the P...