Silver Bullet Mines Announces New Financing to Fund Development at Buckeye Silver Project, Arizona
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Silver Bullet Mines Corp. (SBMI) has announced a fundraising push to finance advance development of its Buckeye Silver Mine in Arizona.
Buckeye is home to a collection of silver, palladium, platinum, rhodium, osmium, and gold targets.
The Ontario-based firm recently announced it had found significant levels of palladium, platinum, rhodium, osmium, and gold in its concentrate. A second round of assay results proved palladium, platinum, rhodium, osmium, and gold in representative mineralized material from its Buckeye silver mine near Globe, Arizona.
Silver Bullet will issue three million units priced at $0.20, which will comprise one share and one full warrant exercizable at $0.30 for a 24-month term. The target amount for the financing is $600,000, according to a release from the company.
SBMI currently owns a gravity mill near Globe, Arizona that is fully functional for the extraction of silver.
“The use of proceeds from the financing will be to determine what equipment will be required to augment that mill’s capabilities to also extract the other elements mentioned above. All of the existing mill will be retained,” Silver Bullet said in a statement.
Source: Proactive Investors
About Silver Bullet Mines
Silver Bullet Mines Corp. engages in the acquisition, exploration, development, and extraction of natural resources, specifically precious metals in Arizona, Idaho, and Nevada. It primarily focuses on the development and operation of its Buckeye Silver Mine located outside of Globe, Arizona. The company is based in Burlington, Canada.
To stop by Silver Bullet’s website, CLICK HERE
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