A historic photo of the Bunker Hill mining and smelting complex. Credit: www.MiningArtifacts.org.
IDAHO – Toronto-based Liberty Silver Corp. has announced its intention to acquire the Bunker Hill silver-zinc-lead mine and smelting complex at Kellogg from Placer Mining Corp. The acquisition will include all mining rights and claims, surface rights, existing infrastructure at Milo Gulch, machinery and buildings at the Kellogg Tunnel portal level, as well as all underground equipment and infrastructure.
The acquisition would also include all current and historic data relating to the Bunker Hill mine complex, such as drill logs, reports, maps, and similar information located at the mine site or any other location.
The price for the Bunker Hill assets is US$30 million. Liberty has already made a payment of US$150,000 and another US$3.5 million is due at closing. Half the total purchase price will be paid over five years in annual installments from the closing date of the deal. The balance, US$15 million, will become due in 15 equal yearly installments beginning on June 29, 2023.
Liberty calls the Bunker Hill mine “one of the most storied base metals and silver mines in American history.” From discovery in 1885 to closure in 1981, 40 different orebodies were mined. About 32.5 million tonnes of ore with an average grade of 155 g/t silver, 8.76% lead, and 3.67% zinc were removed.
The lead smelter, electrolytic zinc plant and historic mining facilities were demolished about 25 years ago, and no exploration or mining work at the site could be done until clean-up was completed under U.S. Environmental Protection Agency regulations. That work is complete, and Liberty can begin its due diligence of the property.
Information about Liberty is available on its website, www.LibertySilverCorp.com.