The Silver Cord Mine is a developed silver and gold mine with over 900ft of existing tunnels following a prominent silver vein.
Production of the mine will be managed by Western Sierra Mining Corp under the joint venture agreement.
Western Sierra CEO Michael Chaffee said these initial funds will go directly toward Phase One of the Development Outline, which will include general exploration, sampling and mapping of the mine.
"Some ore material will likely be removed and processed as part of the geological evaluation," Chaffee said.
