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CMC Metals Ltd. Announces Share Purchase Option Agreement to Acquire Swordfish Silver Corp. From Sailfish Royalty Corp. and the Gavilanes Silver-Polymetallic Project in the San Dimas Area, Durango, Mexico
VANCOUVER, BC / ACCESSWIRE / December 20, 2023 / CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(CMCX...
About this update from Walker Lane Resources Ltd.
[{"type":"text","content":"CMC Metals Ltd. Announces Share Purchase Option Agreement to Acquire Swordfish Silver Corp. From Sailfish Royalty Corp. and the Gavilanes Silver-Polymetallic Project in the San Dimas Area, Durango, MexicoVANCOUVER, BC / ACCESSWIRE / December 20, 2023 / CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(CMCXF:OTCQB) (\"CMC\" or the \"Company\") is pleased to announce that the Sailfish Royalty Corp. (\"Sailfish\") has entered into a share purchase option agreement (the \"Agreement\") with the Company that grants the option (the \"Option\") to acquire all of the issued and outstanding shares of Swordfish Silver Corp. (\"Swordfish\"). Swordfish, through Sailfish de Mexico S.A. de C.V., holds the mineral rights of the Gavilanes silver exploration property (the \"Property\") located in the Municipality of San Dimas, State of Durango, Mexico. Upon entering into the Agreement, CMC reimbursed Sailfish for certain fees incurred by Sailfish with respect to the Property in the 2023 calendar year in the amount of US$27,383.Gavilanes comprises of eleven concessions (13,594.5 hectares) located in the Sierra Madre Occidental Province in southwestern Durango. The Property has a current NI 43-101 Inferred Resource of 18,174,000 contained silver-equivalent (\"Ag-Eq\") ounces at an average grade of 320.3 g/t Ag-Eq within 1,765,000 tonnes (Mine Development Associates/Respec Resource Gesociences Inc., 2021). The metal prices assumed in the resource estimate were $19.00 USD/oz silver, $1,600 USD/oz gold, $3.50 USD/lb copper, and $1.00 USD/lb for lead and zinc.Gavilanes is a low to intermediate sulfidation epithermal deposit. Limited drilling at the site has been completed over 0.2 square kilometers of veins. Recent mapping efforts by Sailfish identified more than 20 veins covering an area in excess of 15 square kilometers. It is highly probable that the identified volume of mineralized veins will be increased by drilling the dip and strike extensions of the partly drill tested Gavilanes Zone, and early stage detailed mapping of the Central and Western Zones. Gavilanes is located 23 km northeast of the San Dimas/Tayoltita mine operated by First Majestic Silver Corp and shares many geological and mineralogical similarities with the mine deposit. Previous exploration on the Property includes a total of 61 diamond drill holes (13,011.25 meters). A majority of the...