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Gammon Gold Gets Option To Buy Mexico Property

March 24, 2010 (FinancialWire) — Gammon Gold Inc. (TSX: GAM) said it has signed definitive purchase option agreements on a group of properties called the Mezquite Project in Zacatecas State, Mexico.

The Mezquite Project covers 460 hectares and is located 45 kilometres southeast of Goldcorp's Penasquito property and 22 kilometres northeast of Camino Rojo.

The property lies on a 70 kilometre belt with over 27.4 million ounces of gold and 1,611 million ounces of silver, or around 57 million gold equivalent ounces at a gold-to-silver ratio of 55: 1, according to the company.

Canada-based Gammon Gold is a mid-tier gold and silver producer with properties in Mexico.

The company's flagship Ocampo Project in Chihuahua State achieved commercial production in January 2007. Gammon Gold also operates its El Cubo operation in Guanajuato State and has the promising Guadalupe y Calvo development property in Chihuahua State.

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