New Joint Venture To Operate Silver Cord Mine
PRESCOTT, AZ - Western Sierra Mining Corp. has reached a new agreement with Extractive Technologies Inc., the owners of the Silver Cord mine located in central Arizona.
Under the original agreement Western was to assist Extractive Technologies in the development of the Silver Cord. Under the new agreement, the two companies will work as Joint Venture partners. Western will provide a variety of mining services including permitting, both underground and surface exploration, mine engineering, geology and tunnel rehab in preparation for an extensive sampling program. Extractive Technologies Inc. will provide the required funding. If the current schedule can be adhered to, Western expects to begin the initial work by the end of June. In addition to the direct cost of the project, Western will receive a portion of the net smelter returns (NSR) for both the gold and silver produced from the Silver Cord. The Silver Cord claims are located in the Black Canyon Mining District on the east side of Turkey Creek in Yavapai County, Arizona. In September of 2010, initial small sampling results showed better than ounce gold and in excess of 85 ounces silver/ton taken from the 910 feet of developed tunnel. The Silver Cord is a historically producing silver and gold property. The company's address is 2750 Cisco Drive South, Lake Havasu City, AZ 86403, (928) 680-5513, fax: (928) 680-7066.