RE: Northair to Acquire Surface Rights at La Cigar This news is quite significant.
Our La Cigarra property, which hosts the combined 3 km long SG, LC and LB zones, is only 335 hectares in size.
Today`s purchase annoucement is for surface land property representing 1,098 additional hectares, that adjoins our existing 335 hectares at La Cigarra.
I look forward to seeing a map with the location of the new hectares. The La Cigarra deposit dips to the east at depth. With such a substantial increase in adjoining hectares the likelihood is high for some of the new hectares to represent continuation of our existing property to the east. If so, this will allow us to explore aggressively at depth, to not only explore the down dip extensions of our existing silver deposit but to also look for new zones at depth (such as a high grade copper zone).
I don`t know how this purchase differs (replacement or additional or otherwise) from the potential land purchase announced on June 7th. With no percentage given this time, and with the terms being different from the last annoucement, perhaps this is a 100% purchase (instead of 70%).