Pinnacle Silver and Gold Corp.’s Exciting New Venture: El Potrero High-Grade Gold-Silver Project
In a recent press release, Pinnacle Silver and Gold Corp. (Pinnacle) announced that they have signed a Definitive Agreement (DA) with an arm’s length private individual and a company he controls. This agreement grants Pinnacle a staged option to acquire up to a 100% interest in the 1,074 hectare El Potrero high-grade gold-silver project in Durango, Mexico.
The Agreement: A Closer Look
According to the terms of the DA, Pinnacle can earn a 51% interest in El Potrero by making payments totaling $2.5 million over a period of three years. Upon earning this initial stake, Pinnacle will have the right to increase its ownership to 70% by spending an additional $5 million on exploration and development activities within five years. The final 30% can be acquired by Pinnacle by making a cash payment of $2.5 million.
El Potrero: A High-Grade Gold-Silver Project
El Potrero is an exciting new project for Pinnacle, as it boasts high-grade gold-silver mineralization. Historical drill results from the project include 1,186 grams per tonne (g/t) gold and 1,240 g/t silver over 0.3 meters, and 22.2 g/t gold and 1,740 g/t silver over 1.1 meters. These impressive figures bode well for the potential of this project.
Impact on Individuals
For individual investors, this news could be an opportunity to get in on the ground floor of a potentially successful gold and silver exploration project. Pinnacle’s strong financial position, with over $12 million in cash and cash equivalents as of the end of Q2 2022, positions them well to execute on their plans for El Potrero. As the project progresses, investors may see increased value in their shares.
Impact on the World
On a larger scale, the exploration and potential development of El Potrero could have a positive impact on the global gold and silver markets. Mexico is a leading producer of gold and silver, and any new significant discoveries could contribute to the country’s economic growth. Furthermore, the increased demand for precious metals as safe-haven assets could drive up prices, benefiting mining companies and investors alike.
Conclusion
Pinnacle Silver and Gold Corp.’s acquisition of the El Potrero high-grade gold-silver project in Durango, Mexico, is an exciting development for the company and its investors. With high-grade mineralization and a favorable location, El Potrero has the potential to significantly contribute to Pinnacle’s growth. For individual investors, this could be an opportunity to capitalize on the project’s potential success. On a global scale, the exploration and development of El Potrero could contribute to Mexico’s economic growth and have a positive impact on the gold and silver markets.
- Pinnacle Silver and Gold Corp. signs Definitive Agreement to acquire El Potrero high-grade gold-silver project in Durango, Mexico.
- Project boasts impressive historical drill results, including 1,186 g/t gold and 1,240 g/t silver over 0.3 meters, and 22.2 g/t gold and 1,740 g/t silver over 1.1 meters.
- Pinnacle can earn up to a 100% interest in El Potrero by making payments and exploration expenditures totaling $10 million over six years.
- Individual investors may see increased value in their shares as the project progresses.
- Exploration and development of El Potrero could contribute to Mexico’s economic growth and positively impact the global gold and silver markets.
