- Silver Valley Metals Corp. (SILV) has closed private placement for total gross proceeds of $969,283.55
- The company will issue a total of 12,897,114 units
- Silver Valley Metals Corp. is a brownfields exploration company with two potential high-impact projects in Mexico and USA
- Silver Valley Metals Corp. (SILV) opened trading at C$0.11
Silver Valley Metals Corp. (SILV) has closed its previously announced offering for total gross proceeds of $969,283.55.
The company will issue a total of 12,897,114 units, with each unit consisting of one common share and one common share purchase warrant. Each warrant is exercisable at $0.15 for 24 months.
Cash finder’s fees totalling $64,061 and 854,147 broker warrants will be paid.
All securities issued will be subject to a statutory four month holding period.
About: MexiCan lithium – potassium (sulphate of potash) project:
Silver Valley owns a 100% interest in a lithium and potassium bearing salar complex comprising 4,059 hectares on three mineral concessions located on the Central Mexican Plateau in the states of Zacatecas, and San Luis Potosi, Mexico. The NI 43-101 inferred mineral resource contains 12.3Mt of Sulfate of Potash (SOP) and 243,000 tonnes of lithium carbonate equivalent (LCE) and remains open in all directions for expansion.
About: Ranger-Page project:
The Ranger-Page Project is located in the Silver Valley in Northern Idaho, USA, 60 kilometres east of Coeur d’Alene and 1 kilometre from the I-90 freeway. In 2020 Idaho was ranked the first in the world in policy perception and 9th best mining jurisdiction (Fraser Institute Annual Mining Survey). The Project borders the famous Bunker Hill Mine to the east and, for the first time, consolidates the western extent of the prolific Silver Valley mining corridor by one operator in the past 100+ years.
The project is on patented claims. There are no royalties and comprises 6 historical mines. The largest of these, the Page Mine, was a top ten producer in the Silver Valley, producing over 1 billion pounds of zinc and lead and 14.6 million ounces of silver. The Page Mine has high-grade silver-zinc-lead historic reserves and remains wide open at depths beyond what has been defined to date.
There is shared underground infrastructure connecting the larger Page mine with five shallow historic mines within the larger Project area. The Company has underground mining data and surface geological data that support high-grade silver-zinc-lead mineralization present within the shallow, undeveloped mines. These mines remain open at depth and laterally along strike.
Exploration potential beyond the historical mines is considered significant due to no modern systematic exploration applied to the project.
Silver Valley Metals Corp. is a brownfields exploration company with two potential high-impact projects that comprise lithium-potassium (sulphate of potash) located in Zacatecas and San Luis Potosi, Mexico and silver-zinc-lead located in Idaho, USA, respectively.
Silver Valley Metals Corp. (SILV) opened trading at C$0.11.