Aztec Minerals Corp. announces it has reached an agreement to acquire 2 patented claims amounting to 8.58 hectares (21.19 acres) and the Company also staked 17 new unpatented claims totalling 130.5 hectares (332.5 acres) at the historic Tombstone Silver District in Southeastern Arizona.
“Listing on the NYSE American furthers our aims of improving liquidity for our shareholders while broadening access for prospective retail and institutional investors,” stated Brendan Cahill, President and CEO.
“We’re extremely encouraged with our initial drilling results at Salomon-Favor to see four stacked zones of wide mineralization starting from surface,” said Brad Langille, President and CEO.
As previously reported, in December 2019, the Company successfully disposed of its former Mexican operations and, as a result, avoided costly obligations that would otherwise exist.
“I’d be surprised if there are many exploration companies with a small $2 million market value which hold a 100 percent interest in a 5,000 hectare gold-silver exploration property where mineralization is sampled ubiquitously over a large 15 square kilometre area, has undergone two prior successful drill programs and a senior company review leading to the intention to drill over 100 drill targets, and is imminently drill ready.”
The current work program has been focused on the eastern and northeast part of the project covering an area that was previously unexplored by the Company. The area of coverage includes the recently acquired, and previously underexplored, El Tule claim.
Silver Tiger CEO, Glenn Jessome states, “We are very confident that our exploration and development at our El Tigre project will be of great interest to silver investors worldwide. We are very pleased to be trading on the OTCQX which will increase our visibility and accessibility to our current and prospective U.S. and global shareholders.”
Pursuant to an option agreement dated August 7, 2020 between First Majestic and Silver Dollar, First Majestic has acquired ownership and control of 5,146,401 Shares, representing approximately 14.9% of the outstanding Shares.
“We are pleased to welcome Peter Jones as the new Chairman of Reyna Silver. He brings a tremendous amount of experience over a long and successful career which will be critical as we grow.”
The proceeds from the Private Placement are expected to be used by the Company to purchase underground equipment for its Zimapan property and for general working capital and corporate purposes.
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