Business
SOMA ANNOUNCES ACQUISITION OF ADJACENT MINERAL RIGHTS IN ANTIOQUIA, COLOMBIA, INCREASING PROPERTY PACKAGE TO 41,427 Ha ALONG THE OTU FAULT
SOMA ANNOUNCES ACQUISITION OF ADJACENT MINERAL RIGHTS IN ANTIOQUIA, COLOMBIA, INCREASING PROPERTY...
About this update from Soma Gold Corp.
[{"type":"text","content":"\n\n\n\n SOMA ANNOUNCES ACQUISITION OF ADJACENT MINERAL RIGHTS IN ANTIOQUIA, COLOMBIA, INCREASING PROPERTY PACKAGE TO 41,427 Ha ALONG THE OTU FAULT\n \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.prntal{\nTEXT-ALIGN: LEFT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n April 10, 2025\n \n\n /CNW/ -\n \n Soma Gold Corp.\n \n (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the \"\n \n Company\n \n \" or \"\n \n Soma\n \n \") is pleased to announce that it has completed the purchase of two additional mining concessions from Grupo de Bullet SAS. These concessions are contiguous to the mining concession acquired by Soma's Colombian subsidiaries on\n \n May 10, 2023\n \n . The consideration for the acquisition was\n \n US$50,000\n \n plus a 2% NSR, which may be reduced to 1% at any time through a\n \n US$1 million\n \n payment. These concessions follow the OTU Fault, a crustal-scale fault structure that controls quartz veins and gold mineralization in the region. The acquisition of these concessions expands Soma's coverage along the main mineral-bearing structure, which extends from Aris Mining's (TSX: ARIS) Segovia Mine to Mineros' (TSX: MSA) alluvial concessions located 36 km to the north.\n \n\n Soma also announces that the negotiations to acquire and process mineralized rock from Denarius Metals Corp's (CBOT: DMET) Zancudo Mine have been terminated due to restrictions under Denarius' offtake agreement with Trafigura. Feed for the El Limon Mill will instead come from surplus production at the Cordero and Aurora Mines, as well as other formalized mines on the Company's property.\n \n\n\n Chris Buchanan\n \n , Vice-President of Exploration for Soma, states, \"Ongoing drilling at the Colossa Mine indicates that the down-dip projection of the vein system extends to the northwest onto these new mining concessions. Our exploration team is excited to follow the veins onto these licenses. In addition, a regional soil grid contains anomalies along the northwestern edge, suggesting potential for new vein discoveries on these mining concessions. As a result, they have...