Royal Silver Mines Inc. of Spokane said Wednesday it has signed a letter of intent with two Chilean-owned companies to purchase claims for $5 million, to be paid over five years.
The companies are Compania Minera San Enrique S.C.M. and Compania Minera Cobre Iquique S.C.M. Royal. The claims are for the northern Chilean Mocha district, which is rich in copper, bringing the company’s total owned amount to 100 square miles. , DataTimes