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Kootenay Silver's Mexican Promontorio Mineral Belt Silver Properties Optioned to Pan American Silver - Video Posted on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - February 18, 2016) - Kootenay Silver (TSXV: KTN...
About this update from Pan American Silver Corp.
[{"type":"text","content":"Kootenay Silver's Mexican Promontorio Mineral Belt Silver Properties Optioned to Pan American Silver - Video Posted on InvestmentPitch.comVancouver, British Columbia--(Newsfile Corp. - February 18, 2016) - Kootenay Silver (TSXV: KTN) announced an option with Pan American Silver (TSX: PAA) (NASDAQ: PAAS) on Kootenay's Promontorio Mineral Belt silver properties in Mexico. Pan American, through its Mexican subsidiary, can earn a 75% interest in both the Promontorio and La Negra deposits. InvestmentPitch.com has produced a \"video news alert\" which discusses this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"Kootenay\" in the search box. If you cannot view the video above, please visit: http://www.investmentpitch.com/video/0_hb sbrx93/Kootenay-Silver-TSXVKTN-announced-an-option-with-Pan-American-Silver-TSXPAAJames McDonald, President and CEO of Kootenay stated: \"We are very excited to join forces to aggressively develop our Promontorio Mineral Belt assets with Pan American, one of the world's esteemed mining companies and operators of seven silver mines in Mexico, Argentina, Peru and Bolivia. Bringing approximately US$16 million in cash payments and exploration investments and a carried interest to commercial production, along with a CDN$2 million direct investment in Kootenay, the PAS Transactions underscore Pan American's confidence in the potential viability of La Negra and the Promontorio Mineral Belt.\" Michael Steinmann, President and CEO of Pan American stated: \"Kootenay has done an excellent job exploring their large land package in the Promontorio Mineral belt, located just 190 km NW of our Alamo Dorado mine. Kootenay has already defined mineral resources at Promontorio and both deposits retain excellent exploration potential. This is an ideal entry point for Pan American into a highly prospective mineral belt located in a preferred jurisdiction, which will allow us to add value by utilizing our proven expertise in exploration and project development.\" As the transactions are arm's length, they can proceed with shareholder approval. Upon exercise of the Option, the parties will enter into a joint venture pursuant to which Kootenay will retain a 25% carried interest to production. This follows Kootenay's recent business combination with Northair Silver, which created a leading Mexica...