TSXV – AGAG
VANCOUVER, BC, Oct. 28,
2024 /CNW/ - Argenta Silver Corp. (TSXV: AGAG)
(formerly Butte Energy Inc.) ("Argenta" or the "Company") is
pleased to announce the commencement of trading on the TSX Venture
Exchange under the new symbol "AGAG," effective at the open of
trading today.
Highlights
- Commencement of trading under the new symbol "AGAG" on the TSX
Venture Exchange.
- Acquisition of the high-grade El Quevar silver project in
Salta, Argentina, one of the
region's most promising silver assets.
- Updated NI 43-101 Technical Report by Woods Canada Inc. filed
on SEDAR+, confirming significant silver resources.
- El Quevar hosts 45.3 Moz of silver at 482 g/t Ag
(Indicated) and 4.1 Moz (Inferred) at 417 g/t Ag
- Raised CAD$15.3 million in a
private placement, with Frank Giustra as a significant
shareholder.
- Existing infrastructure at El Quevar includes road access,
power, and a fully operational camp for rapid exploration.
Argenta's commencement of
trading marks the beginning of a new era as the Company advances
its strategy to become a premier player in the silver market. With
the acquisition of El Quevar in Salta, Argentina, Argenta now controls one of the most promising
silver exploration assets in the region. Our mission is to develop
world-class silver projects in mining-friendly regions, creating
long-term value while contributing to the global energy
transition.
An updated technical report entitled "NI 43-101 Technical Report
on the Mineral Resource Estimate of the El Quevar Project,
Salta Province, Argentina" (the "Technical Report") was
commissioned by the Company and completed by Woods Canada Inc. and
has been filed on the Company's SEDAR+ profile at
www.sedarplus.ca.
As outlined in the Technical Report, the El Quevar project hosts
a high-grade silver resource with 45.3 million ounces of indicated
silver at 482 g/t and 4.1 million ounces of inferred silver at 417
g/t. The Yaxtché deposit covers only a small portion of the
56,709-hectare property, leaving significant room for exploration
and expansion. The project is supported by existing infrastructure,
including road access, power, and a fully operational camp,
enabling rapid exploration and development.
In connection with the acquisition, Argenta raised CAD$15.3
million in a private placement, with participation from
renowned mining investor Frank
Giustra, now a significant shareholder. Giustra, a long-time
supporter of mining in Argentina,
co-founded Wheaton River Minerals Ltd., which led to a $5 billion merger with Goldcorp Inc., and founded
Silver Wheaton Corp., (now Wheaton Precious Metals Corp.). His
involvement reflects confidence in Argenta's strategy and the El Quevar
project.
The Value Proposition to Shareholders:
- Strategic Acquisition: Argenta's acquisition of El Quevar provides
shareholders exposure to a high-grade silver asset with expansion
potential.
- Strong Financial Backing: The CAD$15.3 million raised in private placement and
Frank Giustra's investment
demonstrate market confidence and provide the capital needed for
growth.
- Proven Management Expertise: Led by the Fiore Group with
a track record of success, ensuring effective project development
and value creation.
- Exploration Upside: Significant unexplored areas within
the 56,709-hectare property offer potential for resource expansion,
enhancing long-term shareholder value.
- Sustainable Development Focus: Commitment to responsible
mining practices aligns with global trends, ensuring Argenta is well-positioned for future
growth.
Joaquin Marias, Vice President of Exploration at Argenta Silver,
commented: "Trading under the new name "Argenta" reflects our
confidence in the direction we are headed. We appreciate the
support of Frank Giustra and our
shareholders. El Quevar is a transformative asset that fits
perfectly with our growth strategy in the silver sector, and we are
looking forward to realising its full potential."
About Argenta Silver Corp.
Argenta Silver Inc. is a focused silver exploration company
committed to advancing projects that support the global energy
transition. Our mission is to create sustainable, long-term value
for shareholders by acquiring and developing high-potential silver
assets in mining-friendly jurisdictions. Led by an experienced
management team with deep expertise in exploration, finance and
project development, Argenta takes
a disciplined, strategic approach to growth. With a strong emphasis
on responsible mining practices, we are positioned to meet the
rising demand for silver, a critical metal in renewable energy and
emerging technologies, while building a lasting and successful
company.
Andrew Hamilton, P.Geo., a
"qualified person" as defined by National Instrument 43-101
Standards of Disclosure for Mineral Projects, has reviewed and
approved the scientific and technical information contained in this
news release.
For further information, please visit:
https://argentasilver.com/.
On behalf of ARGENTA SILVER
CORP.
"Geir Liland"
Chief Executive Officer
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Certain statements and information herein contain
forward-looking statements and forward-looking information within
the meaning of applicable securities laws. Such forward-looking
statements or information include but are not limited to statements
or information with respect to: the El Quevar project.
Although management of the Company believe that the
assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that forward-looking statements or information herein will prove to
be accurate. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information. These risk factors include, but are not
limited to: exploration and development of the El Quevar project
may not result in any commercially successful outcome for the
Company; risks associated with the business of the Company;
business and economic conditions in the mining industry generally;
changes in general economic conditions or conditions in the
financial markets; changes in laws (including regulations
respecting mining concessions); and other risk factors as detailed
from time to time.
The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
SOURCE Argenta Silver Corp.