MAG Silver Options San Ramone Property, Zacatecas
posted on
Jul 15, 2009 10:57AM
the total cash outlay comes to $4 million over five years, which is no problem for mag:
MAG Silver Corp. (TSX:MAG - News)(AMEX:MVG - News) ("MAG") reports that it has executed an option agreement to acquire 100% interest subject to a 1.5% Net Smelter Royalty in the San Ramone property in Zacatecas State, Mexico. The San Ramone property combined with MAG's existing adjoining holdings at Lagartos SE, gives MAG control of a significant portion of the eastern part of the historic Mala Noche silver vein system. The Lagartos SE area which has been a major focus of MAG's exploration efforts in the region is located 93 kilometres south of the Fresnillo District and the site of the Valdecanas vein discovery.
"The Zacatecas district is the next major producing silver district along the Fresnillo Silver Trend in Mexico. We see a similar discovery potential using the same disciplined exploration approach, adjacent to producing veins, that has led to our success in the historic Fresnillo area," said Dan MacInnis, President and CEO of MAG.
http://finance.yahoo.com/news/MAG-Silver-Options-San-Ramone-iw-1706432581.html?x=0&.v=1