Western Sierra Mining has signed a new contract with Extractive Technologies, the proprietors of the Silver Cord mine, which is situated in central Arizona.
According to the original agreement signed in February 22, 2011, Western was only to help in the progress of the Silver Cord mine but now the two companies have become Joint Venture partners through the new contract.
Under the contract, the company will offer different mining services that include mine engineering, permitting for both surface and underground exploration, geology and rehabilitation of tunnel to prepare for a wide sampling program. The necessary funding will be offered by Extractive Technologies. According to the present schedule, Western anticipates to commence the first exploration work before June 30th, 2011.
Western will obtain a part of the net smelter returns (NSR) for the production of gold and silver at the Silver Cord mine, besides the direct project cost. The location of Silver Cord mine is in the Black Canyon Mining area on the Turkey Creek’s east side in Yavapai County, Arizona.
The results of the primary small sampling has confirmed gold better than ½ ounce gold and silver beyond 85 ounces/ton, which is obtained from the developed tunnel at 910 ft, in September 2010.
At first, Western will persist with its estimation of the hard rock segments of the claims, but will offer some geological assessment and placer claim sampling in Turkey Creek.