When completed, the acquisition will add significantly to Santa Fe Gold’s silver and gold resources potentially available for processing at its fully permitted and operating flotation mill near Lordsburg, New Mexico.

Santa Fe Gold president and CEO Pierce Carson said the Columbus Silver acquisition is strategically important to Santa Fe’s future.

"We are working to secure the required funding and are confident that financing will be available under acceptable terms," Carson said.

Santa Fe Gold is a mining and exploration enterprise focused on acquiring and developing gold, silver, copper and industrial mineral assets.