OTCPK:IAUFF - Post by User
Post by
b00gn1shon Feb 16, 2008 1:18pm
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Post# 14384302
Aura Silver to focus on Taviche
Aura Silver to focus on TavicheWell this is encouraging. They must see something good in these properties, or else why leave all their eggs in one basket, right?
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Mr. Paul Pitman, President of Aura Silver, commented: "While we have enjoyed an excellent working relationship with Sterling Mining, we felt the extensive drilling required at depth to confirm mineral potential is not in our best interest at this time. Reducing our commitment in Idaho allows us to focus further resources on our core silver properties in the Taviche mining district in the State of Oaxaca, Mexico where we believe we will best be able to enhance shareholder value."
The Company recently completed a 4,000 metre drill program to test silver and gold rich veins on its West Taviche property and is currently planning a follow-up program. Assays will be released when available.
The Taviche, Mexico property comprises two concessions totaling 13,724 hectares that are held by Intrepid Mines Limited (TSX:IAU - News; TSX:IXN - News; ASX:IAU - News) under option from Plata Panamericana S.A. de C.V., a wholly owned subsidiary of Pan American Silver Corporation. Aura Silver and Intrepid have formed an agreement whereby they can jointly earn a 70% interest in the concessions.
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