TSXV – AGAG
VANCOUVER, BC, Oct. 28, 2024 /CNW/ - Argenta Silver Corp. (TSXV: AGAG) (formerly Butte Energy Inc.) ("Argenta" or the "Company") is pleased to announce the commencement of trading on the TSX Venture Exchange under the new symbol "AGAG," effective at the open of trading today.
Highlights
- Commencement of trading under the new symbol "AGAG" on the TSX Venture Exchange.
- Acquisition of the high-grade El Quevar silver project in Salta, Argentina, one of the region's most promising silver assets.
- Updated NI 43-101 Technical Report by Woods Canada Inc. filed on SEDAR+, confirming significant silver resources.
- El Quevar hosts 45.3 Moz of silver at 482 g/t Ag (Indicated) and 4.1 Moz (Inferred) at 417 g/t Ag
- Raised CAD$15.3 million in a private placement, with Frank Giustra as a significant shareholder.
- Existing infrastructure at El Quevar includes road access, power, and a fully operational camp for rapid exploration.
Argenta's commencement of trading marks the beginning of a new era as the Company advances its strategy to become a premier player in the silver market. With the acquisition of El Quevar in Salta, Argentina, Argenta now controls one of the most promising silver exploration assets in the region. Our mission is to develop world-class silver projects in mining-friendly regions, creating long-term value while contributing to the global energy transition.
An updated technical report entitled "NI 43-101 Technical Report on the Mineral Resource Estimate of the El Quevar Project, Salta Province, Argentina" (the "Technical Report") was commissioned by the Company and completed by Woods Canada Inc. and has been filed on the Company's SEDAR+ profile at www.sedarplus.ca.
As outlined in the Technical Report, the El Quevar project hosts a high-grade silver resource with 45.3 million ounces of indicated silver at 482 g/t and 4.1 million ounces of inferred silver at 417 g/t. The Yaxtché deposit covers only a small portion of the 56,709-hectare property, leaving significant room for exploration and expansion. The project is supported by existing infrastructure, including road access, power, and a fully operational camp, enabling rapid exploration and development.
In connection with the acquisition, Argenta raised CAD$15.3 million in a private placement, with participation from renowned mining investor Frank Giustra, now a significant shareholder. Giustra, a long-time supporter of mining in Argentina, co-founded Wheaton River Minerals Ltd., which led to a $5 billion merger with Goldcorp Inc., and founded Silver Wheaton Corp., (now Wheaton Precious Metals Corp.). His involvement reflects confidence in Argenta's strategy and the El Quevar project.
The Value Proposition to Shareholders:
- Strategic Acquisition: Argenta's acquisition of El Quevar provides shareholders exposure to a high-grade silver asset with expansion potential.
- Strong Financial Backing: The CAD$15.3 million raised in private placement and Frank Giustra's investment demonstrate market confidence and provide the capital needed for growth.
- Proven Management Expertise: Led by the Fiore Group with a track record of success, ensuring effective project development and value creation.
- Exploration Upside: Significant unexplored areas within the 56,709-hectare property offer potential for resource expansion, enhancing long-term shareholder value.
- Sustainable Development Focus: Commitment to responsible mining practices aligns with global trends, ensuring Argenta is well-positioned for future growth.
Joaquin Marias, Vice President of Exploration at Argenta Silver, commented: "Trading under the new name "Argenta" reflects our confidence in the direction we are headed. We appreciate the support of Frank Giustra and our shareholders. El Quevar is a transformative asset that fits perfectly with our growth strategy in the silver sector, and we are looking forward to realising its full potential."
About Argenta Silver Corp.
Argenta Silver Inc. is a focused silver exploration company committed to advancing projects that support the global energy transition. Our mission is to create sustainable, long-term value for shareholders by acquiring and developing high-potential silver assets in mining-friendly jurisdictions. Led by an experienced management team with deep expertise in exploration, finance and project development, Argenta takes a disciplined, strategic approach to growth. With a strong emphasis on responsible mining practices, we are positioned to meet the rising demand for silver, a critical metal in renewable energy and emerging technologies, while building a lasting and successful company.
Andrew Hamilton, P.Geo., a "qualified person" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
For further information, please visit: https://argentasilver.com/.
On behalf of ARGENTA SILVER CORP.
"Geir Liland"
Chief Executive Officer
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements and information herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the El Quevar project.
Although management of the Company believe that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These risk factors include, but are not limited to: exploration and development of the El Quevar project may not result in any commercially successful outcome for the Company; risks associated with the business of the Company; business and economic conditions in the mining industry generally; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); and other risk factors as detailed from time to time.
The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Argenta Silver Corp.
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