Aura Silver Resources Inc.

Published : October 02nd, 2006

Sterling Mining's Pine Creek Properties to be Explored by Aura Silver

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Sterling Mining's Pine Creek Properties to be Explored by Aura Silver

 



 

 

 

 

 

Wallace, Idaho - October 2, 2006 - (BUSINESS WIRE) - Sterling Mining Company (OTC: SRLM) has entered into an agreement with Aura Silver Resources to explore Sterling's Pine Creek properties. Sterling's Pine Creek claims lie adjacent to the New Bunker Hill Mine property.

Once the terms of this agreement are completed, Aura Silver will have exploration rights as well as access to Sterling's extensive geological database on the Pine Creek District of the Silver Valley in order to assess the data and generate new exploration programs by 2007. Exploration will fall within the defined area of interest and may extend into areas beyond Sterling's current Pine Creek land holdings.

"Less than 15% of this area has previously been explored using modern geochemical and geophysical methods. This agreement with Aura Silver will expedite and support our existing exploration efforts in the Silver Valley concurrently with work being completed to advance the Sunshine Mine to long-term sustained production by early 2008." stated Sterling Mine President, Ray De Motte.

The terms of the agreement are that Aura Silver will provide exploration expertise and conduct the exploration programs from 2006 to 2010 to earn a 50% interest in certain mining claims. Subject to TSX Venture approval, during the first year, Aura Silver has committed to exploration expenditures of US$200,000 and the issuance of 150,000 common shares. During the four year earn in period, at Aura Silver's option, exploration expenditures would total up to US $3 million and the issuance of up to an additional 850,000 Aura Silver common shares.

If a NI 43-101 compliant deposit of greater than 25 million ounces of silver is discovered, Sterling Mining will become operator to develop and mine the deposit.

About Sterling Mining Company
Sterling Mining controls the historically significant Sunshine Mine and related exploration lands in the Silver Valley of North Idaho. The Company also holds several silver properties in Mexico, including the producing Baroness Tailings Project in the Zacatecas silver district. Sterling Mining trades on the OTC Bulletin Board under the symbol "SRLM" and also on the Frankfurt Stock Exchange, trading symbol "SMX."

 

 

 

 

 

 

 

 

Aura Silver Resources Inc.

EXPLORATION STAGE
CODE : AUU.V
ISIN : CA05152U1084
CUSIP : 050120 10 4
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Aura Silver is a silver exploration company based in Canada.

Its main exploration properties are GREYHOUND LAKE in Canada and TAVICHE in Mexico.

Aura Silver is listed in Canada. Its market capitalisation is CA$ 26.9 millions as of today (US$ 19.7 millions, € 18.4 millions).

Its stock quote reached its highest recent level on August 21, 2009 at CA$ 0.60, and its lowest recent point on November 30, 2018 at CA$ 0.01.

Aura Silver has 128 119 992 shares outstanding.

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Annual reports of Aura Silver Resources Inc.
Annual report 2006
Financings of Aura Silver Resources Inc.
6/13/2011Closes $1,550,000 Flow-Through Private Placement Financing
Option Grants of Aura Silver Resources Inc.
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Project news of Aura Silver Resources Inc.
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Corporate news of Aura Silver Resources Inc.
6/16/2016Aura Silver Resources Inc. (TSX-V: AUU) ("Aura Silver" or th...
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8/14/2015Drilling Resumes at Greyhound & Aura Silver Compiles Latest ...
7/8/2015Aura Silver Announces Receipt of Permit to Commence Drilling...
9/17/2014Aura Silver Explores Around Silver Zone on East Taviche Prop...
7/10/2014Agnico Eagle Commences Drill Program on Aura Silver's Greyho...
6/23/2014Aura Silver Completes New Survey in Mexico Across Jasperoid ...
6/10/2014Aura Silver Signs Option Agreement With Agnico Eagle to Reco...
9/5/2013(Taviche)Files Amended NI 43-101 Report for Taviche Project, Mexico
1/21/2013Discovers New Gold/Copper Targets at Dingo Prospect, Greyhou...
5/9/2007Raising up to US $2,000,000 in Private...
5/3/2007SAMPLING AT TAVICHE PROJECT, MEXICO CONFIRMS HIGH PRECIOUS M...
10/2/2006Sterling Mining's Pine Creek Properties to be Explored by Au...
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