- Silver Bull Resources (SVB) has terminated the option agreement with a subsidiary of South32 Limited at the Sierra Mojada project in Coahuila, Mexico
- The termination was in response to a blockade of the Sierra Mojada project by the local mining cooperative since 2019
- South32 was unable to gain access to the property
- Silver Bull Resources Inc is an exploration stage company which holds interests in various property concessions in Mexico within a mining district known as the Sierra Mojada District
- Silver Bull Resources Inc. remained unchanged at $0.26 as at 10:03 AM ET
Silver Bull Resources (SVB) has terminated the option agreement with a subsidiary of South32 Limited at the Sierra Mojada project in Coahuila, Mexico.
The termination was in response to a blockade of the Sierra Mojada project by the local mining cooperative since 2019. South32 was unable to gain access to the property to advance exploration activities.
“While we are disappointed that South32 has decided to terminate the option agreement for Sierra Mojada, we understand their reasoning, given the inability to access the project site since September 2019,” said Tim Barry, CEO of Silver Bull.
“The ongoing illegal blockade of the Sierra Mojada project by the local mining cooperative, Sociedad Cooperativa de Exploración Minera Minero Norteños S.C.L., has been in place since September 2019, and there has been no intervention by the appropriate authorities to bring this to an end despite the company’s many attempts to reach a reasonable path towards an amicable settlement,” he added.
Silver Bull intends to continue to assess the current situation at Sierra Mojada and other opportunities outside of Mexico as they present.
Silver Bull Resources Inc. is an exploration stage company which holds interests in various property concessions in Mexico within a mining district known as the Sierra Mojada District.
Silver Bull Resources Inc. remained unchanged at $0.26 as at 10:03 AM ET.