According to the company, the tailings deposits are from the previous production of the Montauban lead-zinc-silver deposit.
Siga has acquired the tailings for the issuance of ten million shares of restricted common stock of the company at a deemed value of $2 per share.
The company has also granted a 1.5% net smelter royalty to the seller, Laguna Finance of Switzerland.
Siga said its strategy targets properties that have the potential for near term production, and its primary geographical interest is North and South America.
