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DAILY NEWS Dec 31, 2012 2:29 PM - 0 comments

South American Silver invests closer to home

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After taking a bruising in Bolivia earlier this year when the government revoked its Malku Khota concession, South American Silver (SAC-T, SOHAF-O) is sticking a little closer to home.

The Vancouver-based junior has taken a 19.9% stake in High Desert Gold (HDG-V), a junior explorer with properties in Nevada, Utah and Mexico.

High Desert Gold’s flagship property is Gold Springs, a 70-30 joint-venture with Pilot Gold (PLG-T), in which it holds a 70% stake and is operator. Gold Springs, a volcanic hosted epithermal gold target in the prolific Great Basin Province, lies on the border between Nevada and Utah.

But the junior also holds direct interests in a number of other properties including the San Antonio project in Sonora, Mexico, the Gold Lake property (a copper-molybdenum-gold porphyry system) in New Mexico, and the Kinkaid and Pinyon properties in Nevada. High Desert Gold also has a 34.2% interest in the Canasta Dorada property in Sonora through its equity interest in Highvista Gold (HVV-V). The Alamo Muerto target at Canasta Dorada is about 10 km northwest of and on trend with AuRico Gold’s (AUQ-T, AUX-N) El Chanate mine.

In mid-December, High Desert Gold released more assay results from its Grey Eagle target at Gold Springs with highlights of 59.4 metres grading 1.15 grams gold per tonne and 8.11 grams silver, including 7.6 metres of 6.22 grams gold and 27.30 grams silver.

In August a batch of assay results from the Grey Eagle target included 21.4 metres of 5.6 grams gold per tonne and 32.4 grams silver per tonne within a 62.5-metre interval of 2.1 grams gold and 16.4 grams silver.

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Geologists at the Malku Khota concession in Bolivia. Source: South American Silver Corp.
Geologists at the Malku Khota concession in Bolivia. So...

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