- Aftermath Silver (AAG) has acquired Challacollo silver-gold project in Northern Chile
- The company executed this through the acquisition of all of the issued and outstanding equity rights of Minera Mandalay Challacollo Limitada from MRC
- Aftermath Silver made the final payment of C$3,000,000 to MRC
- Challacollo is a low-sulphidation epithermal silver-gold system
- Aftermath Silver is a leading Canadian junior exploration company focused on silver
- Aftermath Silver Ltd. was unchanged at $0.235 at 10:08 AM ET
Aftermath Silver (AAG) has acquired a 100-per-cent interest in the Challacollo silver-gold project in Northern Chile.
The company executed this through the acquisition of all of the issued and outstanding equity rights of Minera Mandalay Challacollo Limitada from Mandalay Resources Corporation and Mandalay Resources (Chile) SPA.
The acquisition was previously announced on November 12, 2019 and updated on April 29, 2021.
Aftermath Silver made the final payment of C$3,000,000 to MRC through a cash payment of $1,000,000, the issuance of 6,122,448 common shares at a deemed price of $0.245 per share and the issuance of a promissory note for $500,000.
“We’re excited to finally own 100 per cent of the Challacollo silver-gold project, and to begin to explore its exploration potential once all of the required permits are in place,” noted Ralph Rushton, Chief Executive Officer and President of Aftermath.
Challacollo is a low-sulphidation epithermal silver-gold system located in Region I in Northern Chile, 130 km southeast of the major port city of Iquique and 50 km south of the town of Pica.
High voltage power transmission lines are located 15-30 km from the property, in part to service nearby mines of Collahuasi and Quebrada Blanca.
The project includes water rights groundwater rights for 12 l/sec, held since 2005 at Tamentica community 10km west of Challacollo.
Aftermath Silver is a Canadian junior exploration company focused on silver and aims to deliver shareholder value through the discovery, acquisition and development of quality silver projects in stable jurisdictions.
Aftermath Silver Ltd. was unchanged at $0.235 at 10:08 AM ET.