Santa Fe Gold Corp. said Feb. 20 that it is buying the Quartzite Creek and Harris Creek gold properties in British Columbia as part of its strategy to acquire assets with near-term production potential.

The company will be paying a total of C$400,000 for the properties, C$171,000 of which has already been settled and the remainder to be completed in monthly installments.

Santa Fe previously expected to announce at least four new acquisitions within the first quarter. It also recently completed the purchase of silver miners Bullard's Peak Corp. and Black Hawk Consolidated Mines Co. as well as the Sunset Lode and Sunset Placer deposits in New Mexico, which are prospective for gold and silver.

The company owns and operates the Malone gold project in New Mexico.