Silver Bull Resources (TSX:SVB, StockForum), a Vancouver-based mineral exploration firm with property concession acquisition options in Sierra Mojada District, announced today that the company had received water permits for its flagship Sierra Mojada silver-zinc project located in Coahuila, Mexico.
According to the news release, the National Water Commission of Mexico (“CONAGUA”), a division of the Ministry of Environment and Natural Resources, granted a subsidiary of Silver Bull six permits which gave the company access of up to 3.5 million cubic metres of water annually from the regional aquifer.
With an expected 8,500 tonne per day throughput at the mill, Silver Bull only anticipates using 2.5 million cubic metres per year, well under the permitted limit handed out by CONAGUA with the release noting that the Laguna del Ray Aquifer covers 3,097 square kilometres and can easily accommodate the company's water demands.
Silver Bull CEO, Tim Barry, commented, “This is another major step forward for the project. One of the major killers of projects in dry regions can often be access to enough water; we do not have this problem at Sierra Mojada. Hydrological studies completed on the area clearly indicate that there is sufficient water available to support our operations as well as future growth for nearby communities as a result of the jobs we create in the region.”
Then he concluded, “This is yet another key milestone to de-risk this project and advance it forward.”
Silver Bull was in the news recently when the company provided a corporate year-end review at the end of January.
Currently there are 159.1m outstanding shares with a market cap of $67.6 million.