Silver Hammer Mining Corporation (“Silver Hammer” or the “Company”) is pleased to announce that it has reached an agreement to acquire the permitted Shafter Silver Mine Project (“Project”) and a proposed reorganization to strengthen its operational strength and overall corporate objectives.
Silver Hammer, a well-financed, private mining exploration company is headquartered in Vancouver, BC. As part of this acquisition, the project is expected to move forward with focus on a variety of minerals, including silver, gold, base metals, and other precious and semi-precious metals.
The Project, located on the eastern edge of the San Luis Mountains, consists of a 1,100+ acre parcel of federally patented mining claims centered on the Williams and Sandoval Mines, in Sierra County, New Mexico. Discovered and initially explored in the early 1900’s, the property has seen modest exploration and development from a variety of companies in the last fifty years.
The Agreement will bring a host of advantages to the Company, as the Project is fully permitted, making permitting and regulatory processes faster, less expensive, and more likely to be successful. Additionally, this acquisition includes two operating mines and a series of smaller claims, with previous estimates of proven and probable reserves available.
Silver Hammer also intends to reorganize the Company’s corporate structure to make it more efficient and profitable. The intent is to spin-out non-core assets, reduce overhead, and refocus on the Project more intently, allowing it to capitalize more quickly on the value of the asset.
Silver Hammer CEO, Mac Hanson, had this to say: “We are very excited about this acquisition and our ability to move forward with an already permitted property. We believe this is an excellent and viable 220-unit project and look forward to tremendous success with this development. After a prolonged bear market, we believe the timing and opportunity here are extraordinary.”
This Agreement is expected to provide substantial economic benefits for the community and region, both during construction and in the long term. With a proven, high-grade asset, the Company is confident that it can turn a high-value mine into excellent returns for its investors in the silver and gold markets.
We look forward to seeing how this story will unfold in the coming months.