Kootenay Silver (TSXV:KTN) for the past eight years has been actively developing precious metals assets contained within its 100-percent-owned Promontorio Mineral Belt in Sonora, Mexico. Those include its established 92-million-silver-equivalent-ounce NI 43-101 Promontorio resource and its new high-grade La Negra silver discovery.
In a series of recent milestone developments, the company announced a definitive agreement to acquire all of the issued and outstanding shares of Vancouver-based Northair Silver (TSXV:INM). The amalgamation of Kootenay and Northair immediately positions Kootenay as a leading consolidator of silver assets in Mexico.
The company also announced a major option agreement with Pan American Silver (PAS) (TSX:PAA, NASDAQ:PAAS) to advance its La Negra and Promontorio Mineral Belt assets. The option includes US$16 million in work and cash payments and a carried interest to commercial production.
Kootenay and Northair Consolidation
The consolidation with Northair will position Kootenay Silver as one of Mexico’s preeminent asset-based silver companies. The amalgamation includes Northair’s premier La Cigarra silver asset in Chihuahua, Mexico. La Cigarra contains a 52-million-ounce NI 43-101 silver resource that offers substantial potential for further expansion as a future open-pittable silver resource.
Creating a Leading Mexican Silver Company
- Holder of one of Mexico’s largest silver asset bases.
- Approaching 150 million ounces of contained silver Eqv. assets.
- Strong cash position with over $4.1 million in treasury.
- Ability to control and maintain costs as it targets further acquisitions.
- Multiple joint ventures in generative portfolio.