San Marco Resources Inc. announces it has agreed to buy a data package and drill core on its Espiritu SMR Property from Kootenay Silver Inc. As payment for the data, San Marco will issue, subject to TSX Venture Exchange approval, 200,000 common shares to Kootenay.
We were pleased to complete the acquisition of Rye Patch Gold during the quarter, adding a second operating mine to our portfolio, said Greg McCunn, Chief Executive Officer. With two similar open pit, heap leach operations we believe that we will be able to leverage our expertise across the mines to focus on improving the operations to deliver cash flow. Disciplined capital allocation is a priority, particularly in the current gold price environment. As a result, we have made the decision to temporarily suspend development work at Ana Paula while we focus on improving our operations to unlock opportunities to increase efficiencies, lower costs and generate cash flow.”
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