Toronto-based Canmine Resources (CDN) has agreed to purchase the San Antonio silver property in the province of Chihuahua, Mexico.
In exchange for 100,000 common Canmine shares and a 15% net profits royalty, Canmine will acquire a 100% interest in the property from Kam-Do Development, a private Winnipeg company, and the Mexican claimholder.
A rock sample taken from a silver vein on the property assayed 252.8 oz. silver per ton, 5.4% copper and 15% lead.
Canmine, which will release its shares in increments of 25,000 every six months, is currently establishing a Mexican company to hold the claims.
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