Royal Silver Buys Four Mexican Mines

Spokane’s Royal Silver Mines Tuesday acquired four new mines in Mexico with promising silver and gold deposits, the company said.

The four formerly active mines cover about 1,130 acres of land in the state of Nayarit in Mexico.

Royal Silver Mines will spend a minimum of $250,000 each year until the mines are brought back into production. After that, Royal Silver Mines will pay a 10 percent net profits royalty to Minera Nival, which owned the mines.

The mines were at one time developed by the Spanish, and have operating records that show they produced high-grade ore. They operated until about 1910.

Royal Silver Mines focuses on silver properties and continues to examine an option to buy the historic Bunker Hill Mine in Idaho’s Silver Valley. , DataTimes