Quitovac mine surface land agreement signed

26 December 2011: Silver Scott Mines, Inc. plans the execution of a 10 year extendable surface land agreement for exploration within more than 4000 hectares held by the company, and within which up to 100 hectares is permitted with high impact work including mining. The agreement that was recently completed allows the mining activities within the 100 hectare tract in mineral concessions held by the company.

The community vote was unanimous in favor of the proposal which included a .7 of 1 percent production royalty and a 5 year review process with the community. This completed agreement allows the company to move forward with drilling of the gold bearing oxidized mineralized zone and further detailed assessment of production with a technical report in 2012. The Quitovac mineralized zone is a disseminated to vein bearing gold zone hosted in gneiss and schist that is located in Northwest Sonora state of Mexico near the community of Quitovac.

Source: Yourindustrynews