VANCOUVER, Oct. 16, 2018 /CNW/ - Santacruz Silver Mining
Ltd. (TSX.V:SCZ) (the "Company" or "Santacruz")
announces that it has made the final option payment to acquire from
Golden Minerals Company certain mineral claims consisting of 149
concessions covering approximately 7,800 hectares, located in the
Zacatecas Mining District, Zacatecas,
Mexico (the "Zacatecas Properties") (see press release dated
May 4, 2016).
"With this payment Santacruz now owns outright, subject to
underlying net smelter royalties on certain of the claims, these
important concessions and controls approximately 8,900 hectares in
the historic and prolific Zacatecas silver mining belt." stated
Carlos Silva, COO of the Company.
Mr. Silva continued "We are confident that as we progress the
exploration and development of our Zacatecas mineral portfolio we will realize
the strong mineral potential of this historical mining
district".
About Santacruz Silver Mining Ltd.
Santacruz is a
Mexican focused silver company with two producing silver projects
(Veta Grande Project and Rosario Project) and two exploration
properties (Minillas Property and Zacatecas Properties). The
Company's corporate objective is to become a mid-tier silver
producer.
"signed"
Arturo Préstamo Elizondo,
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward looking information
Certain statements contained in this news release constitute
"forward-looking information" as such term is used in applicable
Canadian securities laws. Forward-looking information is based on
plans, expectations and estimates of management at the date the
information is provided and is subject to certain factors and
assumptions. In making the forward-looking statements
included in this news release, the Company has applied several
material assumptions, that the Company's financial condition and
development plans do not change as a result of unforeseen events,
that third party mineralized material to be milled by the Company
will have properties consistent with management's expectations,
that the Company will receive all required regulatory approvals,
and that future metal prices and the demand and market outlook for
metals will remain stable or improve. Forward-looking
information is subject to a variety of risks and uncertainties and
other factors that could cause plans, estimates and actual results
to vary materially from those projected in such forward-looking
information. Factors that could cause the forward-looking
information in this news release to change or to be inaccurate
include, but are not limited to, the risk that any of the
assumptions referred to prove not to be valid or reliable, which
could result in lower revenue, higher cost, or lower production
levels; delays and/or cessation in planned work; changes in the
Company's financial condition and development plans; delays in
regulatory approval; risks associated with the interpretation of
data (including in respect of the third party mineralized material)
regarding the geology, grade and continuity of mineral deposits;
the possibility that results will not be consistent with the
Company's expectations, as well as the other risks and
uncertainties applicable to mineral exploration and development
activities and to the Company as set forth in the Company's
continuous disclosure filings filed under the Company's profile
at www.sedar.com. There can be no assurance that any
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader should not
place any undue reliance on forward-looking information or
statements. The Company undertakes no obligation to update
forward-looking information or statements, other than as required
by applicable law.
Rosario Project
The decisions to commence production at the Rosario Mine,
Cinco Estrellas Property and Membrillo Prospect were not based on a
feasibility study of mineral reserves demonstrating economic and
technical viability, but rather on a more preliminary estimate of
inferred mineral resources. Accordingly, there is increased
uncertainty and economic and technical risks of failure associated
with this production decision. Production and economic variables
may vary considerably, due to the absence of a complete and
detailed site analysis according to and in accordance with NI
43-101.
Veta Grande Project
The decision to commence production at Veta Grande Project
was not based on a feasibility study on mineral reserves
demonstrating economic and technical viability. Accordingly,
there is increased uncertainty and economic and technical risks of
failure associated with this production decision. Production
and economic variables may vary considerably due to the absence of
a complete and detailed site analysis according to and in
accordance with NI 43-101.
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SOURCE Santacruz Silver Mining Ltd.