The Conversation (0)
Oremex Silver Inc (TSXV:OAG,OTCQX:ORAGF) announced that its subsidiary, Minera Mantos S. de R.L. de C.Vhas entered into an agreement with Minera Cuicuilco S.A. de C.V where Cuicuilco can acquire a 100% interest in the El Sol property.
As quoted in the press
Oremex Silver Inc (TSXV:OAG,OTCQX:ORAGF) announced that its subsidiary, Minera Mantos S. de R.L. de C.Vhas entered into an agreement with Minera Cuicuilco S.A. de C.V where Cuicuilco can acquire a 100% interest in the El Sol property.
As quoted in the press release:
The El Sol project, including mineral rights and surface rights, is 100% owned by Minera Mantos. Oremex Silver considers El Sol to be a non-core asset of the company. El Sol is located in Durango State, Mexico and approximately 1 km northwest (and along trend) of the Cerro Las Minitas silver and base metal deposit. The property is at approximately 2,200 metres in elevation at the eastern limit of the Sierra Madre Occidental and has access year round. The high grade silver‐lead‐zinc system on the property has seen past production, but the property is at an early grass roots stage of exploration and development, and has no indicated resources.
Oremex’s Executive Chairman, John Carlesso, said:
El Sol represents the first milestone in the Company’s strategy to demonstrate and realize tangible value for its non-core assets. The Company is committed to a strategy of unlocking and consolidating the financial value of these assets. Indicative of this strategy, this agreement demonstrates the potential of the El Sol project and management’s ability to strengthen its financial position in a manner that is non-dilutive to its capital structure.
To view the whole press release, click here.
