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Aftermath Silver Announces Transformative Acquisition of the Berenguela Silver-Copper Project, Peru
Vancouver, British Columbia--(Newsfile Corp. - July 27, 2020) - Aftermath Silver Ltd.  (T...
About this update from Aftermath Silver Ltd.
[{"type":"text","content":"Aftermath Silver Announces Transformative Acquisition of the Berenguela Silver-Copper Project, PeruHistoric 98 Million Ounces of Silver Measured & Indicated plus 28 Million Ounces of Silver InferredVancouver, British Columbia--(Newsfile Corp. - July 27, 2020) - Aftermath Silver Ltd.  (TSXV: AAG) (OTCQB: AAGFF) (the \"Company\" or \"Aftermath Silver\") (\"Aftermath Silver\" or the \"Company\") is pleased to announce that it has entered into a binding Letter of Intent (the \"LOI\") with SSR Mining Inc. (\"SSRM\") to purchase 100% of the Berenguela silver-copper project located in Puno, Peru (\"Berenguela\" or the \"Project\") through the purchase of 100% of SSRM's shares in the Peruvian holding company Sociedad Minera Berenguela S.A. (\"SOMINBESA\").Berenguela Silver - Copper Project Highlights Epithermal polymetallic carbonate-replacement deposit Total tenement package of 6,594 hectares50 km to Juliaca, and 204 km to Arequipa, both with daily flight connections to LimaLocated 6 km from the town Santa Lucia, with rail access to the port of MataraniHistoric 2018 JORC Mineral Resource (see below for details and cautionary statements)Containing:Silver: 98 Moz in Measured & Indicated, and an additional 28 Moz in InferredCopper: 624 Mlb of in Measured & Indicated, and an additional 147 Mlb in InferredHistoric 2018 Scoping Study (see below for details and cautionary statements)Open pit mining, low strip 0.96, with a mine life of 12 years at 2 million tonnes per yearMining inventory (Measured & Indicated) of 21.8 Mt @ 111 g/t Silver, 0.98% Copper & 7.6% ManganeseConventional processing flow sheet with annual average production:4.85 Moz of Silver in doré;13,883 tonnes of Copper in cathode;96,087 tonnes of Manganese in MgSO4 mono-hydrate; and 5,098 tonnes of Zinc in cathode;Transaction SummaryAftermath Silver and SSRM have agreed to a total consideration of US$13,000,000 made in staged cash payments, C$3,000,000 in Aftermath Silver common shares, and a sliding scale net smelter returns royalty (\"NSR\"), as follows:US$1,000,000 deposit, to be paid within 48 hours of signing the LOI [(paid)]; US$1,000,000 cash on the closing date of the proposed transaction and C$3,000,000 in Aftermath common shares, using the volume weighted average share price five (5) trading days prior to the date of signing the acquisition agr...