Cerro Resources NL is pleased to advise receipt of further highly encouraging surface sampling results, in preparation for a drill program at the Espiritu Santo Gold/Silver exploration project, in Jalisco State, Mexico.
Catalyst Copper Corp. today announced that Mr. Gerald Prosalendis resigned from the Board of Directors effective August 17, 2012 and is pursuing a program of post graduate studies. Mr. Prosalendis has been a valuable contributor to the Board and his presence and sage advice will be missed. We wish him every success in his academic pursuits.
Cayden Resources (CVE:CYD) has increased the non-brokered financing it announced last week from $4.2 million to nearly $5.1 million due to increased demand, the miner said.
Gold Resource Corporation announced that it is extending to certain of its employees an opportunity to cancel the employee’s outstanding unexercised stock options and receive an equal number of replacement options to purchase the Company’s common stock at a lower exercise price and subject to a new three-year vesting period. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico. The Company has declared over $56 million to shareholders in monthly dividends since declaring commercial production July 1, 2010 and may be the only Company offering shareholders the option to convert their cash dividends into physical gold or silver.
Soltoro Ltd. has received notice from Argentum Silver Corp. that it has elected to trigger the early exercise provisions of the option agreement signed with Soltoro Ltd. (SOL:TSX.V) on April 25, 2011 to acquire a 100% undivided interest in the Coyote and Victoria Silver Gold Properties located in the State of Jalisco, Mexico. Soltoro is proceeding to complete the transfer of 100% ownership of both properties to Argentum Silvers Mexican subsidiary. Soltoro and Argentum Silver recently completed two separate royalty agreements whereby Argentum Silver has granted Soltoro a 3% Net Smelter Return royalty on both property groupings. The agreements will be filed against title on transfer of 100% ownership. Soltoro retains a 3% N.S.R. interest in each project whereby 1% can be purchased by Argentum Silver for US$1.5 million to a maximum of 2% for each project. In addition, Soltoro holds 6,760,000 common shares of Argentum Silver.
Great Panther Silver Limited today announced it has signed a definitive agreement for the purchase of a 100% interest in certain surface rights on its wholly-owned San Ignacio Project in Guanajuato, Mexico. The surface rights agreement was signed on August 17, 2012 and the title transfer is expected to be completed within two weeks.
International Northair Mines Ltd. is pleased to announce assay results from 3 core holes completed in the La Borracha Zone at its La Cigarra silver project located in north central Mexico. La Borracha is the northernmost known segment of the La Cigarra mineral system, located 200 meters northwest of the main San Gregorio and Las Carolinas target areas where drilling has identified a significant mineralized zone measuring over 2,000 metres in length and upwards of 150 meters wide. The combined San Gregorio-Las Carolinas zone is the current focus of an initial resource determination scheduled for Q4 2012.
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