TSX-listed TriMetals is gearing up to focus all its effort and attention on exploring and further developing the mineral resources at its project in the top mining jurisdictions of Utah and Nevada, following the completion of an arbitration process involving the 2012 expropriation of a project in Bolivia.

An international arbitration court in November last year, ordered Bolivia to provide compensation to TriMetals subsidiary South American Silver of $18.7-million, and $9-million in interest, for the expropriation of the Malku Khota silver project.

At the time, the Canadian company described the outcome as disappointing, having sought $385.7-million during the arbitration process.

TriMetals says it became clear that a prompt settlement will not be possible without handing over the exploration data from Malku Khota, which it has agreed to do.

Bolivia will now pay $25.8-million as a final settlement, less $209 475 from the amount payable in satisfaction of the tribunal’s cost order included in the award. The company says it should recover the $209 475.

TriMetals’ Class B shareholders are entitled to 85% of the net cash (after deducting the costs, taxes and expenses, as well as an amount due to a third-party that funded the arbitration) that the company will receive from Bolivia.

Following redemption of the Class B shares of about $11.36-million and repayment of the credit facility, the company will be debt-free and expects to have about $5-million of free available cash to fund exploration and development activities at the Gold Springs project.

"All efforts and attention can now be focused on growing and creating value for the company, by exploring and further developing the mineral resources at the historic Gold Springs project in southern Utah and Nevada, both top-ten mining jurisdictions in the world,” says TriMetals president and CEO Matias Herrero.

The Gold Springs project covers about 7 847 ha, comprised of federal lode claims, Utah state leases, and patented mining claims held through leases and purchases.

The district-scale property is a target-rich environment with four resource zones defined – North Jumbo, South Jumbo, Grey Eagle and Thor. While all are open to expansion, the priority targets are to extend the North Jumbo and South Jumbo towards each other along a 5.5-km Jumbo Trend.

The company has identified an additional 17 targets based on 1 g/t gold outcropping samples, geologic and structural modelling, and geophysical results.

The project encompasses several historical mining districts including the Deer Lodge, Fay and Eagle Valley districts, all within Nevada, and the Gold Springs district in Utah. The project area contains hundreds of historical workings, which began around 1897 with several mines that produced gold intermittently until the early 1940s.