Vancouver-based Trinity One Metals (TSXV: TOM; US-OTC: ARJNF) has agreed to acquire Ecuador’s past-producing Silver-1 mine, a deal CEO Thomas Wood said would give the roughly $9-million microcap a primary-silver focus.
The 31 sq. km concession sits about 20 km southeast of Cuenca in Azuay province. Trinity One said it would pay $540,000 (C$735,080) in staged cash and issue 5 million shares to the holding company that owns the project, subject to exchange approval.
“We’re not a copper company pretending to be a silver company – this is a silver asset,” Wood said this week at the Vancouver Resource Investment Conference. Historical tailings on site could offer an early, non-dilutive funding option if sampling and metallurgical work support a workable flowsheet, the executive added.
Trinity One plans to start by verifying historical data and drilling from existing workings, while treating past tonnage-and-grade figures as an exploration target rather than a current NI 43-101 mineral resource.
Watch the full interview with The Miner’s Western Editor, Henry Lazenby, below:
The preceding Joint Venture video is PROMOTED CONTENT sponsored by Trinity One Metals and produced in co-operation with The Northern Miner. Visit https://www.trinityonemetals.com for more information.
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