Butte Energy to buy Argentina silver deposit
TSX-V-listed Butte Energy has its eye on a large, high-grade silver deposit in Argentina.
The company on Tuesday announced a letter of intent (LoI) to acquire a 100% interest in the El Quevar project, in Salta province, from NYSE American- and TSX-listed Golden Minerals for $3.5-million.
The high-grade Yaxtché deposit at El Quevar holds 45.3-million ounces of silver at 482 g/t in the indicated category and 4.1-million ounces in the inferred category at 417 g/t silver.
The Yaxtché deposit covers less than 1% of El Quevar's 56 719 ha and most of the area remains unexplored.
Supported by the Fiore Group, Butte’s vision is to build a leading silver company to fuel the energy transition and create significant shareholder value.
Meanwhile, Golden Minerals said that it signed the LoI to address its near-term liquidity needs. While the company initially planned to conduct additional drilling and complete an updated technical report at El Quevar, Golden said it believed that the sale of the project was the most effective strategy for alleviating its short-term financial pressures.
Moving forward, Golden said it intends to concentrate its exploration efforts on its other projects, including Sarita Este/Desierto and Sand Canyon, subject to the availability of future funding.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation