We are very pleased with the participation in this financing, commented Jason Weber, P.Geo., President and CEO of Alianza. With the funds in hand, the Company continues its business model to explore the recently staked silver-zinc-lead properties in Peru and to perform additional work and bring in partners to advance existing projects in Nevada and Yukon.
“The board of Bacanora strongly rejects the Proposal believing it significantly undervalues the company and jeopardises Sonora’s development path to production,” said Bacanora.
Rafael Gallardo, Senior Geologist of Minera Cascabel S.A. de C.V., who is leading the drill program, commented, the results that we have received for the first drill hole are very encouraging and I look forward to the results from the other two holes designed to target this zone. The near-surface Au-Ag mineralization we have encountered is typical of epithermal low-sulphidation type deposits found in the area.
Silver Bull recently commenced an exploration program to target potential sulphide mineralization at depth believed to be underneath and adjacent to, the main zone of mineralization already defined at Sierra Mojada. Deep structures are thought to be the conduits from which the shallow mineralization seen on the project has been emplaced, and are the targets of this program. A number of drill holes have previously intercepted structurally controlled sulphide mineralization such as drill hole “B11144”, which intercepted 8.45 meters at 17% zinc, 5.45% lead, and 60g/t silver starting at 193 meters. In addition, recent underground mapping and sampling identified another area of structurally controlled sulphide mineralization with underground channel samples returning grades up to 690g/t silver, 15.25% zinc, 4.8% lead, and 1% copper.
President Lawrence Page Q. C. stated, “Since Southern Silver joined forces with Electrum in Q4 2015, Electrum has consistently demonstrated its willingness to provide funds and expertise on a timely basis to allow the completion of an initial Resource and to continue exploration to test the extent of the large property while the Resource at the Cerro is expanded and developed. Southern Silver is well funded to continue its programs and we look forward to continuance of a long and fruitful relationship in the development of the Property after earn-in and establishment of a joint venture for the exploitation of the Resource.”
Orex’s President, Gary Cope says, “The third phase of drilling results continues to show strong continuity of the mineralized unit and will be added to the drill hole database for next month’s upcoming Resource Estimate.”
Greg Crowe, President and CEO noted: “It is very encouraging to see such strong investor interest in Silver One, in what is shaping up to be a resurgent silver and precious metals market. With the closing of the Private Placement Financing and the Transaction with First Mining, Silver One can now begin advancing its newly acquired silver assets.”
Keith Neumeyer, Chairman of First Mining stated, We are pleased to have completed this transaction with Silver One. We have confidence in Silver Ones management team and are looking forward to them advancing these under-explored properties further and unlocking their true value. Through the equity position that we now have in Silver One, along with our residual royalty interest in these three properties, our company will reap the benefits from continued exposure to the silver sector, and any future upside as sentiment in the mining sector continues to improve.
We are very pleased to receive high grade results right at the outset of our initial sampling program at La Quintera. stated Darrell Rader, President and CEO. We have now commenced an exploration program to locate further high grade silver zones and to define drill targets.
Aura Minerals Inc. confirms the appointment of Rodrigo Barbosa as Chief Financial Officer.
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