- Silver Sands Resources (SAND) is maintaining its option agreement with Mirasol Resources to acquire sole interest in the Virginia silver property
- The company will issue a total of 19.9 per cent of its shares to Mirasol and complete US$6 million in exploration programs over three years
- Results from phase II of the program indicated promising silver grades, and the company is advancing its plans to begin the final phase of the drilling program
- Silver Sands aims to locate and develop economic precious and base metal properties of merit
- Silver Sands Resources Corp. (SAND) opened trading at C$0.255 per share
Silver Sands Resources (SAND) is maintaining its option agreement with Mirasol Resources to acquire sole interest in the Virginia silver property.
Silver Sands has issued 2,805,212 common shares to Mirasol Resources pursuant to the terms of a mineral property option agreement that was signed in May of 2020.
The company will issue a total of 19.9 per cent of its shares to Mirasol and complete US$6 million in exploration programs over three years.
Results from phase II of the program have indicated promising silver grades, including 625 g/g Ag over 10.8 metres, and the company is advancing its plans to begin the final phase of the drilling program.
Silver Sands CEO Keith Anderson commented,
“Phase II drilling has confirmed our hypothesis that drilling known veins along strike will result in an expansion of the current resources and define the Virginia Project as a significant silver project”
“We continue to work toward an updated resource estimate late H2 2021 and are sufficiently funded to complete a Phase III drilling program and complete the resource estimate,” he added.
The company is focusing it drilling efforts on highly prospective silver veins on the Virginia property that have indicated possible silver values over 1,000 g/t Ag and have a high probability of hosting additional silver resources.
Silver Sands aims to locate and develop economic precious and base metal properties of merit. Its key asset is the Virginia silver project, located in the mining-friendly Santa Cruz state of Argentina.
Silver Sands Resources Corp. (SAND) opened trading at $0.255 per share.