Jun 19 2014
Amarium Technologies Inc., through its wholly owned subsidiary Amarium Minerals Inc., reports the Company has signed a Letter of Intent (LOI) to acquire a high-grade copper property in Michoacán, Mexico. This copper property has been previously worked as a smaller scale artisan mine.
Due to the prior mining and extensive exploration, management believes there is a sufficiently significant available copper resource at this location to warrant large-scale commercial production. Terms of the pending acquisition have not been disclosed at this time.
"This acquisition target has been on our radar for a while, due to the close proximity of the San Pedro Mine," said Adam Carter, the President & CEO of Amarium. "There is a proven mineral resource already in place, and the property has been the focus of artisan miners in the past. We hope to announce a definitive agreement shortly."
The LOI is consistent with Amarium's previously announced Mineral Asset Acquisition Program (MAAP). On June 9th, 2014, AMMG announced the initiation of the MAAP, and that a cash dividend was currently under review by company management.
Amarium is focused on the acquisition and development of base metals projects in Mexico that are currently in or near production and advanced exploration properties that will add substantially to the Company's asset foundation. Management is continuing to actively pursue mineral interests that represent significant growth, value and cash flow opportunities.
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