Patriot Minefinders Inc. is pleased to announce the appointment of four new Directors in concert with its focus on the exploration of the La Buena mining project located 5.6 miles north of Goldcorp’s Penasquito Mine and less than 2.5 miles from Goldcorp’s Noche Buena resource area, located in the mining friendly jurisdiction of Zacatecas, Mexico.
Sierra Madre Developments Inc. and its partner Riverside Resources Inc. have announced drill results including 20.9 meters of 1.01 g/t gold from the first two drill holes completed as part of the 2012 drill program at the El Capitan Target (a bulk tonnage oxide gold deposit), which forms part of the Company’s Penoles Project in Durango, Mexico. Drilling in 2011 tested approximately 60% of the strike extent of the zone and the objective of the current drill program (funded by Sierra Madre) is to test the down dip extent, possible extensions to the west and provide sufficient drill hole density for an initial resource calculation for El Capitan.
Highvista Gold Inc. is pleased to report that it has commenced its 2012 drill program at its Canasta Dorada Gold Project, located within the Sonoran Gold Belt, in Sonora State, Mexico. This phase of drilling will include up to thirty-two reverse circulation drill holes totaling 4,500 meters.
Bell Copper Corporation announces that events of default have occurred under the secured term credit facility provided to Rogue River Resources Corp., the Company’s wholly-owned subsidiary, by Macquarie Bank Limited and related agreements. The events of default include the incurrence of trade indebtedness in excess of the limit specified under the Credit Facility, failure to obtain the required permits relating to iron ore activities on the Company’s La Balsa project and failure to deliver a bankable feasibility study in respect of the La Balsa project within the time limits specified under the Credit Facility. The Credit Facility is secured by a charge over the Company’s La Balsa project.
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