Vancouver, British Columbia--(Newsfile Corp. - November 3, 2023) - Pantera Silver Corp. (TSXV: PNTR) ("Pantera" or the "Company") announces it has amended the terms of the Nuevo Taxco Option Agreement (the "Agreement") with respect to its right to acquire 100% ownership of concessions covering ~1,100 hectares at the Nuevo Taxco Silver-Gold Project ("Nuevo Taxco" or the "Nuevo Taxco Project"), located northwest of Taxco, in Guerrero State, Mexico.
Mr. Jay Roberge, President and CEO of Pantera commented: "On behalf of Pantera I would like to thank Fred Davidson and the team at IMPACT Silver Corp. for their on-going support of our commitment to the success of the Nuevo Taxco project. Nuevo Taxco is an extensive epithermal vein system with great upside discovery potential. The revised agreement allows Pantera to retain our interests and to execute on our vision to unlock the potential of the Nuevo Taxco project coherent with our positive view on the long-term prospects for silver. We will continue to evaluate additional projects that may provide hedging opportunities to acquire undervalued assets in this challenging junior exploration market. This may also include projects that are in a more advanced development stage or outside our primary focus of silver."
Under the new amended terms, Pantera will issue 1,500,000 common shares in lieu of making a $150,000.00 final cash payment. A final share payment of 2,000,000 common shares will be due October 30th, 2024. Under the amended terms, the Vendor has the option to accept the 2,000,000 shares or $150,000.00 cash plus 500,000 common shares. In addition, under the amended terms, the final work commitment of $800,000 has been extended to be completed by December 31st, 2025.
All Shares issued in connection with the Agreement will be subject to a statutory 4-month hold period from their respective date of issue.
Nuevo Taxco Property Highlights
- Twenty-one (21) high grade veins mapped and sampled within a ~135 hectare area of the property. All have substantial width and mapped lengths run from 150 to 800 meters and remain open along strike and depth.
- Over 395 samples taken to date have returned assays ranging from 100g/tonne to over 1,000 g/t Silver including three (3) samples (1,430, 1,230, 1,100 g/t), one hundred and nineteen (119) grading over 100 g/t Silver including eighteen (18) samples between 500-900 g/t Silver and ninety-two (92) between 100- 499 g/t Silver.
- Limited exploration drilling completed which confirmed mineralisation at depth and a new gold zone.
- Fully permitted for exploration drilling.
- The entire ~1,100-hectare property is considered substantively unexplored offering additional upside exploration potential.
Qualified Person and NI 43-101 Disclosure
Carlos Cham Dominguez is a "qualified person" within the meaning of the NI 43-101, and is responsible for the technical information disclosed in this news release. Mr. Dominguez is a member of the American Institute of Professional Geologists and a Certified Professional Geologist (CPG) No. 11760
About Pantera Silver Corp.
Pantera Silver Corp. is a mineral exploration and development company committed to enhancing shareholder value by advancing a diverse portfolio of mineral projects through collaborative partnerships and highly experienced technical teams. Pantera will continue to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities that build lasting relationships through honest and respectful business and environmental practices.
On behalf of the Board of Directors
"Jay Roberge"
CEO/Chairman
Pantera Silver Corp.
panterasilvercorp@gmail.com
http://www.panterasilver.com
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This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Pantera Silver Corp disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as required by law.
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