Neil Woodyer, CEO stated This second set of holes continue to delineate the broad widths and high grades of the mineralization below the junction of the sill and the Bermejal intrusive. Overall the program has an impressive 90% success rate with 36 of the 40 holes drilled intercepting the key targets.
Net proceeds from this private placement are intended to be used to contribute to the Companys proportionate share (40%) of the costs associated with continuing exploration on the Cerro Las Minitas property near Durango, Mexico together with the Joint Venture partner of the Company, Electrum Global Holdings L.P. (60%), for advancement of the 100% owned Oro Project, New Mexico, and for additional working capital. Further exploration work on the Cerro Las Minitas property in 2017 and 2018 is to be funded by the two Joint Venture partners and is expected to consist of RC, RAB and core diamond drilling…
Kiran Patankar, Geologix’s President and Chief Executive Officer, stated: “Restarting substantive field work at Tepal is a significant milestone for the Company. Few gold/copper development projects can boast an established economic resource with the kind of scalability and exploration upside we are seeing at Tepal. We have assembled a technical team led by Gillian Kearvell, whose extensive and successful track record of making world-class discoveries in Southern Mexico is bona fide, in order to take a fresh look at the project. The initial findings from this summer’s field program are highly encouraging and suggest that we have just scratched the surface of Tepal’s true potential.”
Goldgroup Mining Inc. announces it has amended the terms of its outstanding loan facility from Credipresto SAPI de CV SOFOM ENR, subject to TSX approval. Javier Reyes, a director of Goldgroup, is an executive officer and director of Credipresto.
VVC Exploration Corporation announces that its Annual General Meeting of Shareholders took place on August 25, 2017 and that the shareholders approved the election of all Directors proposed by Management. With the exception of Scott Hill, those elected were the existing Directors of the Company. In addition, shareholders approved all other matters presented at the AGM, including the re-appointment of MNP LLP as auditors of the Company. The aggregate votes cast at the AGM represented 40,881,101 shares or 22.5% of all issued and outstanding shares.
Ismael Mata Alvarado, Mayor of Santa Maria Del Oro, said: “We are very excited to be the home of one of the next great processing facilities in Mexico. We have seen excellent work and construction of a state of the art production plant. Working with the Magistral Project management team has been a pleasure. Our beautiful city of Santa Maria Del Oro has already benefited from the project, and as the project moves towards completion, it is already becoming clear that it will have a significant impact on our community.”
Akiba Leisman, Executive Chairman and Interim CEO states that, “it is impressive what Marlin accomplished in Q2. The Company was able to complete a 12-million-tonne layback to regain access to the high grade mineralization at La Trinidad, enter into a definitive agreement to acquire a royalty on a multi-million ounce advanced stage gold project operated by a large cap gold producer, and make what looks to be a material discovery at the Commonwealth Project, all without raising any additional equity. Furthermore, the acquisition of the Gavilanes project, the spin-out of Sailfish and the continuous mining of high grade mineralization at La Trinidad will make the second half of 2017 even more exciting for shareholders.”
Bradford Cooke, CEO of Endeavour Silver, commented, These encouraging drill results continue to extend the resource envelope in the Santa Cruz vein at Guanaceví along strike from our current reserves and operating production areas. Another 15 drill holes have been completed and are in the lab for assaying. The 2017 drill program will wrap up this month below budget and ahead of schedule. We will then commence the process of the year-end resource and reserve estimation.
“Our Q2 results reflect production equipment availability challenges that resulted from working capital constraints,” said Arturo Préstamo, President and CEO. “With the recent sale of the Gavilanes Project, we have remedied this issue and have seen immediate improvement in production in terms of both tonnes of production and grade that are in line with management’s expectations at the Rosario Project. At the Veta Grande Project we are now accessing mineralized material from Level 6 of the Garcia mine and again are seeing an improvement in grade that is in line with management’s expectations.”
Tim Barry, President, CEO and director of Silver Bull states, “This program will aim to extend our known zone of sulphide mineralization. Spatially this zone sits below the oxide resource at Sierra Mojada and is interpreted to be an extension at depth. There is potential for this area to be a feeder zone which emplaced the flat lying “manto” ore body which forms the current resource defined at Sierra Mojada.”
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