According to the LOI, the company’s new subsidiary Alta Mining will acquire the SHG Claim Set, a silver, lead and zinc-bearing property located in a well-known mining district about 25 kms northwest of Kaslo, British Columbia.
Mineralization on the property is typical for well-known silver-lead-zinc mineralization that occurs in the Triassic Slocan Group.
The property also includes greenstones and ultramafic rocks of the Permian Kaslo Group, which also host rich silver-lead-zinc mineralization.
The general structural trend is 310 degrees, dipping generally southwesterly, and the mineral deposit is a polymetallic type of vein that bears silver, lead, zinc and sometimes gold.
The company said it has taken a major step forward in executing its strategy by securing a mining property with historically confirmed mineralization for its portfolio of projects, and sees this as a catalyst for further expansion.
