Southern Silver Purchases Land and Equipment at Cerro Las Minitas; Provides Corporate Update
Mundo Minero con información de Southern Silver || 17 de mayo de 2016
Southern Silver Exploration Corp. has completed the purchase and obtained legal title to land at the Cerro Las Minitas project formerly held by the vendor of the mineral claims to Southern Silver.
As part of the July, 2015 agreement, the Company negotiated the cessation of mining rights on the property by the vendor, the acquisition of all mining equipment on the claims and the purchase of a 5.9 hectare surface lot which partially overlies the Blind and El Sol mineral deposits. The surface lot surrounds two shafts that the property vendor used for small-scale mining (<50tpd) during the term of the option of the Cerro Las Minitas mineral tenures.
The acquisition of this surface lot, combined with the 2011 purchase of an initial 5 hectare surface lot, bring to a total of 10.9 hectares of land which may be utilized for mining, milling and production facilities on the property in the future.
Lawrence Page Q. C. President said "during the exploration of the CLM claims while Southern Silver was funding the option payments, it became apparent that ownership of surface rights to land overlying the mineral claims would be greatly beneficial for future development of the property. We have now accomplished the purchase of land which will be significant in any exploitation of the claims.
Additionally, through our Mexican Corporation, which is the owner of the mineral claims, we have negotiated and executed exploration access agreements with the local Ejidos holding surface rights over the deposits allowing continued exploration on the property".