Arco Resources Corp. (TSX VENTURE:ARR) today reported that the company has entered into an agreement in principle with Silex Ventures Ltd. (dated November 30, 2009). According to the agreement, Silex the right to acquire up to a 100% interest in three of Arco's claim blocks, including the Lachiguiri property, all located in Oaxaca, Mexico.

The press release is quoted as saying:

The Lachiguiri property comprises 4200 hectares, located approximately 140 kilometers southeast of the City of Oaxaca, near the town of Santiago Lachiguiri. It consists of the Pochotle and Pochotle II claims, which are each 100% owned by Arco Exploraciones, S.A. de C.V., a subsidiary of Arco. Near the center of this property, a cluster of old workings focused on the silver-rich lead and zinc sulfide mineralization that appears to occur in shoots within a laterally continuous silicified zone related to a fault near the contact between a massive limestone and a younger conglomerate unit.

Click here to access the entire press release ^[1]

Click here to access Arco-Resources Corporate Site ^[2]