Columbus Silver Corporation reported the completion of an agreement with John S. Livermore, a principal of Cordex Exploration granting an option of to acquire 100 percent of his rights and interests in the Mogollon silver-gold district, New Mexico. Livermore's claims cover approximately 2,400 acres and include the principal historic silver-gold mines and incompletely explored vein systems at Mogollon. The Mogollon district, located approximately 120 km (75 miles) northwest of Silver City in southwest New Mexico, covers an extensive, silver-gold bearing epithermal vein field on a caldera margin of the Tertiary Bursum volcanic center. Recorded historic production, largely from the Little Fanney and Last Chance mines during the period 1905 to 1925, totals 15,700,000 ounces silver and 327,000 ounces gold from about 1.7 million tons of ore. Mining was resumed in 1937 with surface and underground operations, mainly on the Queen vein at the Consolidated Mine, continuing until final closure in 1942 due to the wartime cessation of all gold mining in the United States.
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