Southern Silver Exploration Corp. (TSXV:SSV,FWB:SEG) obtained 100% interest in the Oro Property in New Mexico. The completed purchase consisted of 157 BLM claims by the payment of USD$150,000 to the underlying optionors.
As quoted in the press release:
The Oro property consists of 157 BLM claims, two State leases and patented land comprising approximately 17.2 sq km. Since 2006, Southern Silver has paid total monetary consideration of USD$1,083,382 to purchase the claim package. The Oro property is subject to a 2% net smelter return royalty which may be purchased for $2 million.
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