Southern Silver Exploration Corp. continues to advance the Cerro Las Minitas project with the approval of a 2016 Phase I Exploration Budget and receipt of US$750,000 in funding from Electrum Global Holdings L.P., which is financing a broad range of exploration activities to earn a 60% interest in the project. Crew mobilization is underway with work on the property expected to begin in the first week of April.
Excellon Resources Inc., Mexicos highest grade silver producer, is pleased to announce a non-brokered equity private placement in the Company by Eric Sprott for gross proceeds of C$3,000,000 through the issuance of 6,666,667 units at a price of $0.45 per unit. Each Unit will consist of one common share and one half-share purchase warrant of the Company. Each full Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.65 per share for a period of 24 months from the closing date.
Integrantes de unas cuatro organizaciones civiles de Chiapas y Tabasco realizaron este miércoles una marcha en Santo Domingo Zanatepec, en la región del Istmo, en apoyo de quienes se oponen al proyecto minero concesionado por la federación a la empresa canadiense Minaurum Gold Inc en esa localidad.
ALIX RESOURCES CORP. announces that it is increasing the non-brokered private placement announced on February 10th, 2016 from four million units to ten million units at a price of $0.05 per Unit for aggregate gross proceeds of $500,000. Each Unit will be comprised of one common share and one Share purchase warrant of the Company. Each Warrant entitles the holder to purchase an additional Share at a price of $0.075 per Share for a period of 12 months. Proceeds from the Offering will be used for general working capital and to advance the Companys Lithium concessions located in Sonora, Mexico.
Timmins Gold Corp. is pleased to announce an updated National Instrument 43-101 Technical Report for its San Francisco Gold Mine in the state of Sonora, Mexico, prepared by Micon International Limited. The San Francisco Gold Mine is comprised of the San Francisco deposit and the La Chicharra deposit. The report was previously updated as of December 15, 2013. This update incorporates production depletion from the date of the last report, production / confirmation drilling and an update to the resource and reserve assumptions, primarily a lower gold price assumption (Reserves at $1,100/oz gold, Resources at $1,200/oz gold). The update also includes a maiden resource for the San Francisco underground. All figures quoted below are in US Dollars.
MAG Silver Corp. announces the Company’s audited consolidated financial results for the year ended December 31, 2015. For details of the consolidated financial statements, Management’s Discussion and Analysis, Annual Information Form and Annual Report on Form 40-F for the year ended December 31, 2015, please see the Company’s filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). All amounts herein are reported in United States dollars unless otherwise specified.
Colibri Resource Corporation is pleased to announce that their joint venture partner, Agnico Eagle Mines Limited, has informed them that they are planning to drill the Pitaya joint venture property located in Sonora, Mexico. In the Joint Venture, Agnico Eagle holds a 58.84% interest and Colibri holds a 41.16% interest in the Pitaya property.
Millrock President & CEO Gregory Beischer stated: We are pleased to start this new partnership with Centerra Gold. It is a great to see a mining company aggressively acquiring and exploring properties in a challenging market and we are glad to be able to show progress in Mexico to our shareholders.
“Following a productive fourth quarter in 2015, we believe this year is off to a great start with positive developments already coming to fruition. As we continue to await the approval of our Don Diego’ environmental permit, the MINOSA team’s ongoing cooperation and support, in conjunction with the recent agreement with Epsilon, reinforces our belief that MINOSA is the right partner for Odyssey’s offshore mineral exploration business,” said Mark Gordon, Odyssey chief executive officer and president. “Additionally, we recently regained compliance with NASDAQ’s continued listing requirements.”
Fred Stanford, President & CEO of Torex stated: “Achieving commercial production ahead of schedule and under budget is a memorable and significant achievement that the entire team is proud to have been a part of. We offer a special thanks to those many others that have helped in turning our collective intentions into reality.”
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