Vane Minerals has agreed a joint venture with Jose and Hector Ruiz in the La Rastra gold-silver district of Mexico covering four concessions: La Colorada, La Valenzuela, Maria Fernanda and Jorge Luis.

The AIM-listed firm will oversee the exploration and mine planning, provide project financing and make available its SDA Mill, while the Ruiz brothers will be responsible for mining and transporting ore to the mill. Net profits will be split on an 80:20 basis in Vane’s favour until it has recovered 150% of the cost of upgrading equipment. After that, any net profits will be split on a 60:40 basis in Vane’s favour.