Silver Dollar Resources has concluded the acquisition of the Ranger-Page Project in Shoshone County, Idaho, US, marking a significant expansion in the Coeur d’Alene Mining District.
The deal includes the transfer of option rights under two key agreements and the assignment of assets to Silver Dollar’s subsidiary for a total consideration of $2.1m (C$2.89m) and additional shares.
Under the terms agreed with Silver Valley Metals and its subsidiary North Idaho Metals (together referred to as the vendors), Silver Dollar paid C$300,000 in cash and issued six million common shares at C$0.30 each.
The vendors assigned the assets to Silver Dollar’s subsidiary, consolidating the western end of the Silver Valley mining corridor.
In addition to the acquisition costs, Silver Dollar paid finders’ fees of $30,000 and 600,000 shares, which are subject to a four-month statutory hold period.
The Ranger-Page Project, now drill-ready, is located around 2km south of the Interstate 90 Freeway, near the town of Smelterville.
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It benefits from local infrastructure including power and water, and access to a skilled workforce.
The project encompasses two contiguous patented lode claim groups, Government Gulch and Page Mine, covering 403 acres and six historic mines.
With the acquisition, Silver Dollar gains the option to acquire ownership of the project’s mineral rights, which are currently free from any royalties.
The company has secured surface access rights, allowing for immediate exploration activities, and is in the process of obtaining permits from the State of Idaho.
The project has multiple exploration targets that have been developed using modern exploration techniques over the past two years.
It is adjacent to the Bunker Hill mine, which is expected to restart operations in the fourth quarter of 2024.
Silver Dollar president Mike Romanik said: “We are thrilled with the acquisition of the Ranger-Page Project and thank all involved for their assistance in expediting the completion of the transaction.
“Our immediate exploration focus is on the near-surface targets recently discovered outside of the area of the historic mines.”
