Sandra, Silver-Gold-Copper-Zinc-Lead, Durango State
In June 2019, Canasil sold its interest in the Sandra-Escobar project to Pan American Silver Corp. (“Pan American”) for a payment of CDN $2 million and grant of a 2% net smelter returns royalty interest on Pan American’s interest in the project. Pan American retains the right to reduce the NSR Royalty Interest to 1% at any time by paying the Company CDN $4 million.
Sandra Escobar is located 200 km northwest of the city of Durango, Mexico, in the heart of the “Mexican Silver Trend”. The project area hosts multiple mineralized epithermal quartz veins and breccia structures. These veins and structures form high level silver-gold-base metal systems, hosted in andesitic and rhyolitic rocks, and are centered on a large rhyolite dome complex in the north and silver-dominant systems around smaller rhyolite dome complexes to the southeast.