Business
Hispania Resources Announces the Preparation of its Three-Year Exploration Program at Las Herrerias, on the Puebla de la Reina Property in Spain
Toronto, Ontario--(Newsfile Corp. - January 18, 2023) - Hispania Resources Inc. (TSXV: ESPN) (" H...
About this update from Hispania Resources Inc
[{"type":"text","content":"Hispania Resources Announces the Preparation of its Three-Year Exploration Program at Las Herrerias, on the Puebla de la Reina Property in SpainToronto, Ontario--(Newsfile Corp. - January 18, 2023) - Hispania Resources Inc. (TSXV: ESPN) (\"Hispania\" or the \"Company\") is pleased to update its plans for the coming year and prepares for its exploration program at the Puebla de la Reina (\"PBR\") property, Las Herrerias permit, for the next three years. This program consists of surface exploration, geophysics, surface sampling and diamond drilling across the property, which is located in a mining friendly jurisdiction in Southern Spain.During the second half of the year, as travel opened up, Hispania's team met with regional government officials as well as the local Mayor in PBR to update on the company's plans going forward. The Mayor was appreciative and supportive of the Company's work during the COVID-19 pandemic, and was looking forward to more work in the area going forward. This continued through the back half of the year and after meeting with Government officials in Extremadura in the 3rd quarter of the year, \"we presented the work program for Herrerias to the mining authorities and are pleased that it has been recommended for implementation,\" commented Norm Brewster, CEO of Hispania. The Company expects to begin this work program during the second quarter of 2023.Further, during 2022, Hispania undertook the evaluation of several additional properties in Spain and has entered negotiations on two of these properties. The company hopes to update on these negotiations as they proceed. The company has been quite pleased with the continued interest in Mining opportunities in Spain, which was underscored by the largest deal of the year in the country with Sandfire Resources' $2.1 Billion acquisition of MATSA (its first President was Norman Brewster, CEO of Hispania).Hispania also announces that it intends to settle outstanding indebtedness of $622,480 through the issuance of 4,788,305 common shares of the Corporation at a deemed price of $0.13 per common share (the \"Debt Settlement\"). The common shares issued in connection with the Debt Settlement will be subject to a hold period of four months from the date of closing. \"The Management team and I are pleased to participate in the shares for debt settlement, as we are demo...