Mercator Minerals Ltd. is pleased to announce that it has entered into a mandate with RMB Resources Inc (“RMB”), the resource financing division of the FirstRand Group of South Africa, to arrange up to $30 million in a corporate debt facility to repay the Company’s C$25.0 million pre-construction credit facility due January 2013.
Grupo Mexico and GE Power Conversion business have partnered to expand capacity at the Buenavista copper mine in Sonora, Mexico with GEs proprietary Quadramatic drive technology.
Alamos Gold Inc. is pleased to announce that as part of the Company’s long-term strategy to maximize shareholder value, the Company’s Board of Directors has declared a semi-annual dividend of $0.10 per common share. The dividend is payable on October 31, 2012 to shareholders of record as of the close of business on October 15, 2012. This dividend qualifies as an “eligible dividend” for Canadian income tax purposes.
Kimber Resources Inc. today provided an update on work currently underway on the Carmen gold-silver deposit at its Monterde Project, Mexico. Kimber Resources has commenced detailed mapping and sampling of the rehabilitated underground workings that cut through the Carmen deposit. This is the first time these underground workings have been subject to systematic channel sampling.
QRS Capital Corp. is pleased to announce that it intends to complete a non-brokered private placement of up to 2,500,000 units at a price of $0.20 per Unit for gross proceeds of up to $500,000. Each Unit will consist of one common share and one half of one common share purchase warrant. Each such Warrant will entitle the holder to purchase one common share of the Company at a price of $0.40 per common share for a period of 24 months from the closing date of the Private Placement.
Southridge Minerals, Inc. is pleased to announce it has added the expertise of Mexican industry professionals Mr. Alejandro De Leon Garcia, Mr. Alfonso Sanchez Navarro and Mr. Salvador Martinez Moreno to its board of Directors.
Baja Mining Corp. announces that the lenders to its 49% owned subsidiary, Minera y Metalurgica del Boleo S.A. de C.V., have agreed to an extension to the second standstill agreement announced by Baja on August 7, 2012.
SilverCrest Mines Inc. is pleased to announce the results of an additional 15 holes of the Phase II drill program and additional surface sampling currently underway at its La Joya Property in Durango, Mexico. The Phase II drill program has been expanded by 10 holes to 90 holes totaling 20,000 metres. Phase II drilling reported to date has extended the Main Mineralized Trend (“Trend”) beyond the area containing the current Inferred Resource of 101.9 million ounces Ag Eq.(i) (see News releases dated March 20 and May 7, 2012 and attached figure). Newly constructed drill roads have exposed high grade surface mineralization with Ag Eq values ranging from 72.6 grams to 187.6 grams over sample intervals ranging from 39.7 metres to 99 metres. Drilling and surface sampling has now extended the Trend to approximately 2.5 kilometres with an average width of approximately 700 metres. Please reference our revised website at www.silvercrestmines.com for more information, photos and figures on La Joya.
Mr. George A. Brown, President of MacMillan Minerals Inc., is very pleased to announce the positive results of the three hole diamond drill program at the La Raizura Target at the Las Cucharas Gold and Silver Project in Mexico. Mr. William Hamilton, P. Geo., Manager of Exploration, is a Qualified Person under the meaning of National Instrument 43-101 and is responsible for all technical information contained in this news release.
NWM Mining Corporation is pleased to report on the progress of the air-track drilling program conducted on the Gold Ridge target at Lluvia de Oro. Located approximately 500 meters west of the Lluvia de Oro / Creston pit, Gold Ridge consists of a quartz porphyry / felsic volcanic unit with an exposed strike length of 1.4 kilometers and an approximate thickness of 200 meters. Initially defined by highly anomalous gold in soil geochemistry, wide spaced percussion drilling in 2011 and diamond core holes L11-066 and L11-067 confirmed the presence of gold near surface and at depth. In 2012, 20 percussion holes intersected gold mineralization along the east flank of Gold Ridge, expanding the lateral distribution of the gold mineralization while also identifying 3 target areas, the North, Central and South Zones for follow up drilling.
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