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Santacruz Options Zacatecas District Claims from Golden Minerals Company
Santacruz Options Zacatecas District Claims from Golden Minerals Company Santacruz...
About this update from Santacruz Silver Mining Ltd.
[{"type":"text","content":"\n\n\n\nSantacruz Options Zacatecas District Claims from Golden Minerals Company\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSantacruz Options Zacatecas District Claims from Golden Minerals Company\nCanada NewsWire\nVANCOUVER, May 4, 2016\n\n\n\n\n\n\n\n\nTSX.V: SCZFSE: 1SZ\n\n\n\nVANCOUVER, May 4, 2016 /CNW/ - Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the \"Company\" or \"Santacruz\") reports that it has entered into an option agreement to acquire from Golden Minerals Company (\"Golden Minerals\") certain mineral claims located in the Zacatecas Mining District, Zacatecas, Mexico (the \"Zacatecas Properties\").  (Please refer to Figure 1 at end of the news release for location map)\n\n(Photo: http://photos.prnewswire.com/prnh/20160504/363449 )\n\nThe Zacatecas Mining District is located in the central part of Mexico, in the main Mexico Silver Belt. The Zacatecas Properties are located at the periphery of the Zacatecas, Veta Grande, Guadalupe, Pánuco, and Morelos municipalities in the state of Zacatecas, Mexico and consist of 149 concessions covering approximately 7,800 hectares. \n\nIn order to acquire the Zacatecas Properties Santacruz will be required to pay to Golden Minerals the sum of US$1.5 million including an initial payment of $200,000 on signing the agreement (paid) plus additional payments as follows: 6 months after signing $200,000, 12 months after signing $300,000, 18 months after signing $300,000, and $500,000 24 months after signing.  A 1% net smelter royalty exists with the original property vendors on some of the claims included in the Zacatecas Properties.\n\nWhen combined with the Company's existing Zacatecas Mining District exploration and mining rights acquired under the agreement with Contracuña (see news release of November 2, 2015) the Company now controls approximately 8,900 hectares in this historic and prolific silver mining belt. The area includes such mines as the Fresnillo Silver Mine, the Madero Mine (operated by Peñoles) and the Cozamin Mine operated by Capstone Mining Corporation. \n\n\"This agreement with Gol...