VANCOUVER - Argentum Silver Corp. (TSXV:ASL) has acquired the Coyote and Victoria properties in western Mexico by triggering the early-exercise provisions of a 2011 option agreement with Soltoro Ltd. (TSX:SOL).
Soltoro will have rights to receive royalties on production from the properties and owns about 6.7 million shares of Argentum, or about 15 per cent of its total common shares outstanding.
The 1,053-hectare Coyote property, where Argentum recently completed a first-phase drilling program with 25 holes, contains dozens of individual silver-gold veins and stockworks.
Most of the mineralization is within six defined zones within an area of measuring about 1.5 kilometres by 2.6 kilometres, the company said.
Argentum also owns the Lachiguiri and Silacayoapan properties, in southern Mexico.
Soltron shares gained two cents to 41 cents on the TSX Venture Exchange. Argentum's closed Monday at 8.5 cents.