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LeadFX to sell interest in Utah mining claims

LeadFX Inc. signed definitive deals to dispose of its interest in several mining claims in Utah for US$4.5 million, with US$3 million due on closing and the remainder due 12 months later.

The company said July 30 that it is selling 83.5% of Chief Consolidated Mining Co., which holds prospective lead, silver, gold and zinc properties surrounding the past-producing Burgin mine as well as prospective gold and silver deposits around the past-producing Trixie mine.

Chief Consolidated Mining also controls tenements hosting industrial minerals and aggregates such as silica and limestone.

The buyers are special-purpose companies associated with mining, investment and capital markets business Riverfield Capital.