(via Thenewswire.ca)
Windstorm Resources Inc. (TSX-V: WSR, FRA: 4WE, WKN: A1H700, "Windstorm" or the "Company") is pleased to announce that it has reached an agreement to acquire two precious metals projects, Rosa Blanca and Bonanza, from Eurasian Minerals Inc. ("EMX", TSX.V: EMX).
Rosa Blanca is a newly discovered, road accessible epithermal vein system, located 90 km. north of San Luis Potosi, Mexico. The vein system is partially exposed in a largely covered area, over 4 km. long and up to 500 m. wide. Exposures show a multi-stage vein system with hydrothermal breccia and banded and bladed textures suggesting exposure at the top of the system. Limited surface sampling has produced anomalous gold (average 15 ppb, maximum 159 ppb) and silver (average 1.1 ppm, maximum 13.3 ppm) with strong enrichment in pathfinder elements including arsenic and antimony. The veins are developed within the Cretaceous Caracol Formation, host to many of the key epithermal precious metal deposits in central Mexico.
The Bonanza property is a silver-rich lead-zinc skarn district with three small, past producing mines located in the State of Hidalgo, Mexico.
Windstorm can earn a 100% interest in the two properties by spending $2 million in exploration and issuing 1 million shares to EMX over five years. EMX retains a 3.5% NSR, of which 1.5% for precious metals and 2% for other metals can be purchased for $CDN2 million, plus a bonus payment of 500,000 Windstorm shares upon the definition of a minimum 500,000 ounce gold-equivalent resource in compliance with NI 43-101 requirements. A further 1% NSR, plus bonus payments due on the project attaining certain milestones, is due to underlying property vendors. This NSR and bonus payment package can be purchased at any time for US$1.8 million. The agreement is subject to regulatory approval.
The technical information contained in this release has been reviewed by Gerald Carlson, Ph.D., P.Eng., a Qualified Person as defined by National Instrument 43-101.
About Windstorm Resources Inc.
Windstorm Resources is a new company focused on precious metals exploration in Mexico, led by an industry-renowned management team with technical expertise and market experience. Management continues to evaluate quality drill-ready prospects aiming to build an attractive portfolio of gold and silver projects offering multiple opportunities for discovery success. Windstorm is a member of the Grosso Group, a management company specializing in resource exploration for over 18 years.
About Eurasian Minerals Inc.
Eurasian Minerals is a global gold and copper exploration company utilizing a partnership business model to explore the world's most promising and underexplored minerals belts. EMX currently has projects in ten countries on four continents, and generates wealth via grassroots prospect generation, strategic acquisition, royalty growth and merchant banking.
ON BEHALF OF THE BOARD
"Gerald Carlson"
_______________________________
Dr. Gerald Carlson, President CEO
For further information please contact:
Corporate Communications Tel: 1-604-687-1828 Toll-Free: 1-800-901-0058
Email: info@windstormresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
Copyright (c) 2011 Thenewswire.ca - All rights reserved.
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