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Argentum Completes Acquisition of Norsemont II Securing the Cochavara Silver-Lead-Zinc Project in Northern Peru
Toronto, Ontario--(Newsfile Corp. - January 16, 2020) - Argentum Silver Corp. (TSXV: ASL) (" A...
About this update from Argentum Silver Corp.
[{"type":"text","content":"Argentum Completes Acquisition of Norsemont II Securing the Cochavara Silver-Lead-Zinc Project in Northern PeruToronto, Ontario--(Newsfile Corp. - January 16, 2020) - Argentum Silver Corp. (TSXV: ASL) (\"Argentum\" or the \"Company\") is pleased to announce that on January 15, 2020, the Company closed the acquisition of all of the issued and outstanding shares of Norsemont II Resources Corp. (\"Norsemont\"), a private British Columbia company, by way of a three-cornered amalgamation under the Business Corporations Act (British Columbia) pursuant to which 1208350 B.C. LTD., a wholly-owned subsidiary of Argentum, has amalgamated with Norsemont (the \"Amalgamation\").Under the terms of the Amalgamation, shareholders of Norsemont received 0.165343 common shares in the capital of Argentum (each, an \"Argentum Share\") for every common share held of Norsemont. As a result of the Amalgamation, Argentum issued 2,777,778 Argentum Shares. In addition, holders of convertible securities of Norsemont received 400,000 common share purchase warrants of Argentum (each, an \"Argentum Warrant\"), each Argentum Warrant entitling the holder thereof to acquire one additional Argentum Share at an exercise price of $0.25 on or before the date that is three years following the closing of the Amalgamation.Norsemont owns a 100% interest in the Cochavara Silver-Lead-Zinc Project (the \"Cochavara Project\") in Northern Peru. The Cochavara Project consists of six concessions totalling 3,479 hectares located in the Department of La Libertad in Northern Peru, approximately 70 kilometres east of the city of Trujillo. The historical Quiruvilca silver/lead/zinc mine (\"Quiruvilca\") is located 3.5 kilometres northeast of the northern boundary of the Cochavara Project area. Quiruvilca is a large polymetallic vein deposit with over 130 different mineralized structures. Both Cochavara and Quiruvilca are located within the Mid-Miocene Calipuy volcanic complex that hosts several world-class precious metal deposits such as Newmont's Yanacocha and Barrick's Pierina gold mines, which are located approximately 120 kilometres north and 180 km southeast of Cochavara, respectively. Mineralization hosted at Quiruvilca, Yanacocha and Pierina is not necessarily reflective of the mineralization that may be hosted on the Cochavara silver-lead-zinc project.According to Bartos (19...