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Arizona Eagle completes buyout of three historic silver mines in Arizona
The deal expands the McCabe mineralization corridor by 50% to 4.5 km and raises patented land holdings by 18% to 410 acres, with grades reported as high as 861 g/t silver and 15.6 g/t gold.
Arizona Eagle Mining said it has completed the acquisition of 62 acres that include three past-producing, high-grade silver mines in Yavapai County, Arizona.
The acquired properties, the Arizona National mine, the Lookout mine and the Silver Belt mine, are in a set of five parcels located on strike with, and about one kilometer northeast of, the company’s McCabe gold-silver deposit.
The company said the acquisitions extend the structural corridor of mineralization northeast of McCabe by 50%, from 3 km to 4.5 km, and increase its patented land ownership by 18%, from 348 to 410 acres.
Arizona Eagle CEO Kevin Reid said the mines were dormant for almost 100 years, and the company is planning to revive them using modern exploration methods and systematic drilling, following surface and waste pile sampling results including grades up to 861 g/t silver and 15.6 g/t gold.
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