|Silver Standard Resources Inc. - SSO.t owns the flagship Pirquitas mine in Argentina, one of the largest primary silver mines in the world. In 2015, Pirquitas produced 10.3 million ounces of silver. |
The company also operates the Marigold mine which produced 207,000 ounces of gold in 2015.
Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) ("Silver Standard") announces that the transaction to form a joint venture with Golden Arrow Resources Corporation (TSX-V: GRG) ("Golden Arrow") for the development of the Chinchillas project ("Chinchillas" or the "project") closed today. The joint venture, named Puna Operations Inc., is comprised of Silver Standard's Pirquitas property and Golden Arrow's Chinchillas property and is owned on a 75%/25% basis by each company, respectively. Silver Standard is the joint venture operator and has made an option exercise payment of $13.0 million to Golden Arrow. This transaction was previously announced in Silver Standard's news release dated March 31, 2017.