Acquisition:
2023 / 04 / 12
Agreement:
Royalty
Terms:
2.5% NSR until US$4M paid back; then
0.2% NSR thereafter
The Galena property is located in Idaho, USA, in the eastern part of the Coeur d’Alene Mining district, one of the pre-eminent silver, lead, and zinc producing areas in the world. The property consists of the Galena mine and facilities, the Coeur mine and processing plant (currently on care and maintenance), and the Caladay exploration property. Galena has been the focus of ongoing investment, with a multi-year Recapitalization Plan that was initiated in October 2019 and concluded with the commissioning of the Galena Hoist in 2023.
At Galena, silver-copper and silver-lead mineralization occur in steeply dipping fissure filling veins and in wide disseminated zones. The veins generally strike east-west and northeast-southwest, and range in thickness from a few inches (0.2 m) to more than 15 feet (4.5 m).
As of June 30, 2022, the 60% attributable interest of Americas Gold and Silver contained Proven and Probable Mineral Reserves of 12.5 Moz of silver, 96.8 Mlbs of lead, and 5.4 Mlbs of copper contained in three blended reserve-types including 1.0 Mt at 397 g/t silver; 0.6 Mt at 7.0% lead, and 0.35 Mt at 0.70% copper. Estimated contained metal in the Measured and Indicated Mineral Resource category totalled 46.4 Moz of silver, 425.5 Mlbs of lead, and 11.6 Mlbs of copper, exclusive of Mineral Reserves contained in multiple resource types including 3.5 Mt at 413 g/t silver; 2.5 Mt at 7.8% lead, and 1.0 Mt at 0.52% copper (based on variable cut-off grades). For additional information, visit www.americas-gold.com.
