Silver Storm Mining Ltd. is pleased to announce that it is increasing the size of the previously announced non-brokered private placement offering of units of the Company for gross proceeds of up to $3,500,000.01 at a price of $0.09 per Unit subject to approval from the TSX Venture Exchange.
“The latest surface exploration results are adding to our list of targets across the Southern Block.” commented, CEO Brodie Sutherland. “Given how early we are in development of this area, it has yielded encouraging results across a large footprint that extends two kilometers east and 900-meters north of our Main Zone. What excites us about these targets is the fact that back at our Main Zone historic sampling yielded similar results where there is significant exposure across roadcuts and trenches.”
The private placement will now consist of 14,000,000 units at $0.18 for gross proceeds of $2,520,000.
Commenting on this update, Mr. John C. Gustavsen, President of the Antimony Division of the Company, stated, “We have a great seasoned working team assembled who are excited to complete the refurbishing of the Madero Smelter. We have already rehired field personnel who are crucial in achieving our work program objectives. We anticipate being fully prepared when our first international shipments begin arriving in early March.”
“At the beginning of the year we planned a robust exploration program at our San Dimas mine which has returned impressive results,” stated Keith Neumeyer, President & CEO of First Majestic. “Our exploration teams have completed approximately 113,000 metres of drilling within the district and have intersected significant silver and gold mineralization in multiple veins.”
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