Tartisan Nickel Corp.(CSE:TN) (OTCMKTS:TTSRF) said it has boosted its footprint at its Sill Lake lead-silver project with the addition of new claims in the Sault Ste. Marie Mining District of Ontario.
The company said it paid cash of C$75,000 and issued 100,000 shares of Tartisan Nickel Corp. A 2% net smelter return royalty (NSR) has also been paid and assigned to the vendors.
The Sill Lake lead-silver project now consists of 47 single claims, representing 933.57 hectares, having been around 372 hectares previously.
READ: Tartisan Nickel to update preliminary economic assessment on Kenbridge nickel project in Ontario
"The purchase of these Sill Lake lead-silver claims enhances the Sill Lake property package. Tartisan believes the Sill Lake Lead-Silver project should generate shareholder value in the short term," CEO Mark Appleby told investors in a statement.
The Sill Lake lead-silver project, originally discovered in 1892, has seen two periods of underground development and production and it is estimated that 7,000 tonnes of ore containing lead and silver were mined.
In 2010, a historical NI 43-101 report showed a measured and indicated mineral resource of 112,751 tonnes at 134 grams per ton (g/t) silver, 0.62% lead, and 0.21% zinc.
In November last year, the firm said that SMX International Corp had been hired to update the Sill Lake lead-silver property historical resource, which should be available in the first quarter of 2021.
Contact the author at giles@proactiveinvestors.com