Projected silver production totalling 49 million ounces during the first three operating years would make Corani one of the world's largest silver producers.

Company intends to secure permits and community approvals to drill several of the targets next year.

The Vancouver-based miner can acquire a 100% interest in the property by paying $6 million to the vendors.

Shares of Pan American Silver were up more than 3% at midday during Wednesday's trading session.

Plans are underway for new drilling at Castle East to follow up on the high-grade potential of this area.

A financing deal could be reached in the second half of 2020.