CARSON CITY, Nev., Dec. 12, 2017 (GLOBE NEWSWIRE) -- Del Toro Silver Corp. (“Del Toro” or the “Company”) is pleased to announce that on December 8, 2017 it renewed the Asset Sale Agreement with Bowerman Holdings LLC to acquire up to 75% of the historic Discovery Day gold property in Siskiyou County, California. As consideration for the renewal, the Company paid $25,000 to Trinity Alps Resources, Inc., the parent company of Bowerman Holdings LLC. The agreement extends the closing of the transaction until June 1, 2018 and provides for three additional 90-day extensions.
The Discovery Day Gold Property is located near the town of Forks of Salmon, approximately 65 miles southwest of Yreka, California. The claim block consists of 48 unpatented BLM mining claims, controlling the prolific Knownothing Mining District and approximately 950 acres of USFS land. Historical records of the Knownothing district state the presence of high-grade gold ore deposits in at least 6 major, well-defined, quartz veins. Gold ore has been produced over a vertical distance of 1500 ft. Potential exists for 40 to 50 ore shoots per vein system (with ore grading 1+ opt Au and local high-grade pockets containing 10 to 30+ opt Au).
According to Del Toro CFO Patrick Fagen “The Company has always targeted this historical property to include in its portfolio of high-grade, near-term production gold mines. We are very pleased to once again have it under contract as we continue with our re-listing and re-branding efforts.”
For further information, please contact Patrick Fagen at 530-416-0266.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the possibility of any future production at the Discovery Day property.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
Source:Del Toro Silver Corp.