- Casa Minerals Inc. (CASA) has entered into an amendment to the option agreement to expedite the purchase of the Congress Gold Mine, Arizona
- Casa Minerals completed the final cash payment of US$45,000 and issued 1,125,000 common shares to the optionors
- The optionors eliminated the expenditure obligations under the option agreement in consideration of the accelerated payments
- Casa Minerals owns a 90 per cent interest in the mine from 40 feet depth and beyond
- Casa Minerals Inc. (CASA) is up 21.43 per cent trading at $0.17 per share as of 11:06 a.m. EST
Casa Minerals (CASA) has entered into an amended agreement to expedite the purchase of the Congress Gold Mine.
Casa Minerals completed the final cash payment of US$45,000 and issued 1,125,000 common shares to the optionors.
The common shares are subject to a hold period of one year from the issue date.
The optionors eliminated the expenditure obligations under the option agreement in consideration of the accelerated payments.
Casa Minerals owns a 90 per cent interest in the mine.
Mr. Farshad Shirvani, Casa Minerals president and CEO, stated,
“The company is working to finalize its phase one exploration program on the project and news detailing expected exploration activities will be released shortly.”
The Congress Gold Mine is located near the town of Congress in the Martinez Mining District of Yavapai County, Arizona.
The property consists of 14 patented mineral properties with approximately 260 acres area.
The Congress mine operated until 1992 and at one time supported a full-scale mining and milling operation.
The mine has not been explored since then.
It is known as being Arizona’s largest gold-silver mine with production of about 500,000 ounces of gold.
Casa Minerals is engaged in this acquisition, exploration and development of mineral properties located in Canada and the USA.
The company also owns a 100 per cent interest in the polymetallic Pitman and Keaper properties in B.C.
Casa Minerals Inc. (CASA) is up 21.43 per cent trading at $0.17 per share as of 11:06 a.m. EST.