Click here to close now.




















Welcome!

News Feed Item

Santa Fe Metals Corporation-Enters into Definitive Agreement for Iron Range and Grants Stock Options

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/25/14 -- Santa Fe Metals Corporation (TSX VENTURE:SFM) ("SFM" or the "Company") announces it has signed a definitive agreement with Eagle Plains Resources Ltd. ("EPL") specifying the terms for an earn-In option (the "Option") to acquire a 60% interest in EPL's Iron Range Project ("Iron Range"). Iron Range hosts the same stratigraphic rock assemblage as the historic Sullivan Mine, one of the largest sedimentary exhalative (SEDEX) silver-lead-zinc deposits in the world, located approximately 60-km north east of Iron Range.

As previously announced on March 18, 2014, Iron Range has had abundant exploration success and many defined targets. SFM and EPL plan to focus on Sullivan-time stratigraphy and the regional-scale fault complex at Iron Range for sedimentary exhalative (SEDEX) and Iron-Oxide-Cu-Au (IOCG) target types on the property. The 630 km2 Iron Range project, located near Creston, BC, is owned 100% by EPL subject to a 1% NSR on a portion of the claim group. A complete description of past drill and other exploration results can be viewed at http://www.eagleplains.com/projects/bc/ironrange/.

The Option comprises a commitment by SFM over a 5-year period to earn a 60% interest in Iron Range by incurring exploration expenditures on Iron Range, issuing SFM shares and making cash payments to EPL, subject to regulatory approval including without limitation that of the TSX Venture Exchange (the "Exchange"):


--  On Exchange approval: issuing 1 million SFM shares 
--  On or before December 31st, 2014: incurring $150K in exploration
    expenditures, and issuing an additional 1 million SFM shares and an
    additional $25K in cash; 
--  On or before December 31st, 2015: incurring an additional $350K in
    exploration expenditures, and issuing an additional 1 million SFM shares
    and an additional $50K in cash; 
--  On or before December 31st, 2016: incurring an additional $1.5 million
    in exploration expenditures, and issuing an additional 1 million SFM
    shares and an additional $75K in cash; 
--  On or before December 31st, 2017: incurring an additional $3.0 million
    in exploration expenditures, and issuing an additional 1 million SFM
    shares and an additional $150K in cash; and, 
--  On or before December 31st, 2018: incurring an additional $5.0 million
    in exploration expenditures, and issuing an additional 1 million SFM
    shares and an additional $200K in cash. 

All securities issued by SFM in connection herewith will have a statutory four month hold period.

When all of the conditions of the definitive agreement have been met and SFM has exercised the Option, a 60/40 joint venture will be formed to advance Iron Range. EPL will be the operator of the Iron Range project during the term of the Option.

Grant of Stock Options

The Company reports that pursuant to its stock option plan and subject to regulatory approval, a total of 1,834,000 incentive stock options have been granted to directors, officers and consultants of the Company. The options are exercisable at a price of $0.10 per share for a period of five years.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contacts:
Santa Fe Metals Corporation
Scott E. Broughton, P.Eng.
President and CEO
604.684.2900
www.santafemetals.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ET...
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...