Business
Silver Spruce Provides Update on Pino de Plata
BEDFORD, NS / ACCESSWIRE / September 30, 2020 / Silver Spruce Resources, Inc. (TSXV:SSE)(F...
About this update from Silver Spruce Resources Inc.
[{"type":"text","content":"Silver Spruce Provides Update on Pino de PlataBEDFORD, NS / ACCESSWIRE / September 30, 2020 / Silver Spruce Resources, Inc. (TSXV:SSE)(Frankfort:S6Q1) (\"Silver Spruce\" or the \"Company\") is providing the following update on the Pino de Plata project.Silver Spruce has retained Mexico-based legal counsel to lead the discussions with representatives of the surface landowners of Pino de Plata in order to re-negotiate access rights to their ranch that covers the Pino de Plata project area. The surface landowners had granted access rights to their cattle ranch that covers the project area since July 2015, they signed the Informe Preventivo (drill permit application) in July 2018, and they granted access during the field programs conducted by the Company in March through May 2019. Immediately following the Company's announcement on May 15, 2019, to commence Phase 1 drilling at Pino de Plata, the landholders requested an opportunity for project participation and investment as part of the land access rights agreement. The Company has directed attention to addressing these requests while awaiting the registration of the concession agreement inherent in the terms under consideration.\"We have elevated our engagement in ongoing productive discussions for the past several months with respect to the proposed terms of agreement, and participated in our first face to face meetings in Hermosillo with representatives of the surface landowners and our Mexican legal counsel. Negotiations are underway and offers being evaluated which address the mutual benefit of all parties involved and remain confident that a timely resolution will be completed,\" said Greg Davison, P.Geo., Director and Project Liaison with our teams in Hermosillo and Chihuahua, Mexico. \"We are maintaining communication with drilling and geological teams in Mexico to exercise contract offers on a timely basis and we look forward with great anticipation to initiation of our fully funded Phase 1 drilling program on the Pino de Plata silver project.\"As announced on July 15, 2019, the Company has executed a legally binding agreement with the mining concessions title owner in front of a Mexican Notary on July 11, 2019. It is a legally binding contract under Mexican law, and which reaffirms the Company's purchase rights for 100% interest in the concessions, which is now subject to ...