Silver Shield enters into letter of intent for Real de Guadalupe Gold / Silver Mine Mexico
13 9월 2012 - 3:32AM
PR Newswire (Canada)
BURLINGTON, ON, Sept. 13, 2012 /CNW/ - Silver Shield Resources
("Silver Shield" or the "Corporation") is pleased to announce
that it has entered into a letter of intent to acquire a undivided
100% interest in the former producing Real de Guadalupe Gold and
Silver Mine in Guerrero State Mexico. The Corporation has until
November 17, 2012 to complete its due diligence and enter into a
binding agreement upon successful review of the property, title and
property visits. Terms for the letter of intent are stated in USD,
and are as follows: 1) Payment of $5,000.00 upon signing to enable
Silver Shield geologists the unfettered access to the property and
all mining and technical records. 2) Upon signing a formal deal
Silver Shield Resources will pay a sum of $30,000.00. Payments are
staged as follows: $30,000.00 at the six, twelfth, eighteen
anniversary dates with $50,000.00 due on the 24th month
anniversary, $100,000.00 on the 30th month anniversary, and a final
payment of $230,000.00 due on the 36th month anniversary. 3) Upon
completion Silver Shield Resources will have 100% ownership of the
Real de Guadalupe Gold and Silver Mine, with a stated royalty of
$3.00 per tonne payable to the vendors. About the Real de Guadalupe
Mine The Mine consists of 500 hectares and lies in Guerrero State,
Mexico approximately 40 km northeast of Ixtapa-Zihuatenejo. The
mines of the area date back to the 1800's when the Spaniards worked
on near surface Gold, Silver, Copper, Lead & Zinc veins.
Reported historic production at Real de Guadalupe, averaged 450
grams Silver and 2 grams Gold, with a high lead and zinc content.
The style of mineralization is classified as epithermal,
poly-metallic of low to medium sulphidation. There are some
mineralized stockpiles on surface, tailings from the previous
milling and reported mineralized material remaining in the mine.
The mine closed in 1989 due to infrastructure issues with the 50
t/day mill. Mining was performed from adits and some internal
shafts over ~200m elevations. Silver Shield Resources is planning
an exploration program of mapping, surface sampling of the
mineralized stockpiles and tailings as part of its due diligence.
Silver Shield Resources is determined in bringing high grade small
to medium mines into production such as Real de Guadalupe. Tim
Towers President and CEO of Silver Shield Resources commented:
"While these are challenging times for the junior miners, the
opportunity to add a potential high grade producer to our stable of
Southern Mexican Silver Belt properties cannot be missed! With
Temixco, La Cumbre and potentially Real De Guadalupe, we are at the
cusp of taking great strides in moving the company into the next
tier. The resurgence of Gold and Silver prices in recent days
adds to the allure of this quality asset. Silver Shield's good
relations with the Mexican people, prospectors and mills in the
area will certainly aid the Corporation's stated production focus."
Tim Towers also stated "Silver Shield Resources continues to source
both debt and equity financing to move our quality projects to
first stage production. Despite the difficult market
conditions for junior mining companies, the quality of our assets
has allowed us to meet with several firms. We are considering the
options and terms that have been presented to us thus far, and will
proceed if the terms are favorable for the Corporation and its
shareholders." About Silver Shield Resources Silver Shield
Resources is determined to become a world class silver producing
company. The Corporation's immediate plans, once funded, are to
commence silver production on its fully owned and past producing
LaCumbre Silver Mine in Mexico. The Corporation's immediate plans
also include implementing, and completing a sampling program and
metallurgical study to confirm that past results of assaying of the
tailings deposit located at Silver Shield Resources' Temixco
concession. The tailings deposit is thought to contain
~500,000 tonnes, with an average grade of 145.3 g/t Ag and 1.00 g/t
Au. Once the results are confirmed, the Corporation will
immediately begin working towards an operation process the tailings
pile recovering gold, silver lead and zinc in concentrates. For
more information regarding the Corporation please visit the
corporate website at www.silvershieldresources.net Forward-Looking
Statements Information set forth in this news release may involve
forward-looking statements under applicable securities laws. The
forward-looking statements contained herein are expressly qualified
in their entirety by this cautionary statement. The forward-looking
statements included in this document are made as of the date of
this document and the Corporation disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable securities legislation.
Although Management believes that the expectations represented in
such forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. This
news release does not constitute an offer to sell or solicitation
of an offer to buy any of the securities described herein and
accordingly undue reliance should not be put on such. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSXV) accepts responsibility for
the adequacy or accuracy of this release. Silver Shield
Resources Corp. CONTACT: Mr. Tim D. TowersPresident and CEOSilver
Shield Resources Corp.Tel: (289) 337-6162E-mail:
silvershield@cogeco.net Mr. Frank KordyCorporate Communications
Manager Silver Shield Resources Corp.Tel: (289) 337-6162E-mail:
frank.kordy@silvershieldresources.net
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