The transaction is valued at $33.8m.
The San Juan Silver project has a silver resource of approximately 37 million ounces and significant lead.
With 20 plus miles of the Bulldog, Amethyst,and Equity veins on the property there is potential for considerably more silver and gold resources.
Hecla owns a 70% interest in an exploration joint venture that holds ancillary exploration property with numerous unexplored veins in the district.
The acquisition of the remaining 30% interest in the San Juan Silver project was completed to a purchase sale agreement between Hecla’s wholly-owned Rio Grande Silver (RGS) and Emerald Mining & Leasing, Golden 8 Mining and AgX Resources, Inc and AgX.
A new exploration joint venture agreement has been established that is 70% RGS and will cover the remaining land package that is on the east and west flanks of the RGS property that contains less explored targets.
