MX Gold Corp. announces that on January 10, 2018, the British Columbia Securities Commission issued a Cease Trade Order against the Company as a result of the Company not filing technical reports under National Instrument 43-101 to support first time disclosure of the results of a preliminary economic assessment on its Max Molybdenum property and to support first time disclosure of mineral reserves on its Magistral property.
Scott Perry, President and CEO of Centerra commented, “We are very pleased to enter into this facility with our syndicate of banks who are also considered to be our business partners. While Centerra has a strong balance sheet and we generate significant operating cash flow, we feel it is important to have the added financial flexibility which a corporate revolving credit facility gives us. We are delighted to continue working with our business partners as we fund the development of our portfolio of growth projects.
Kootenay Silver Inc. is pleased to report that Aztec Minerals Corp. today announced the first five of 15 drill holes from its phase I, 3,000 drill program, currently underway at Kootenays Cervantes Project, located in Sonora State, Mexico.Drilling conducted by Aztec Minerals successfully intersected long intervals of porphyry gold, copper and silver mineralization including shorter intervals of high grade gold mineralization within the California Zone confirming excellent potential to host bulk tonnage porphyry mineralization.
Harvest Golds President and CEO Rick Mark states: We are pleased to have advanced the Cerro Cascaron project to the initial drill program stage and, based on the results of our preliminary work to date, we look forward to meaningful drill results. We would like to thank our shareholders for their patience. We chose to take the time last year to add another layer of value to the investigation of Cerro Cascaron to insure we developed the best possible drill targets at this previously undrilled property. We know that a successful initial drill program is one of the key drivers of share appreciation in the junior mining space.
Joey Wilkins, CEO of Aztec, commented: “These positive results from three of the first five drill holes of our Phase 1 drill program confirm that the California zone has excellent bulk tonnage porphyry gold (copper, silver) potential at Cervantes. Holes 3, 4 and 5 were drilled to test a small part of a large surface geochemical gold anomaly on the hill that forms the California zone. As expected, we intersected gold oxide mineralization where the copper has been partially leached out as well as mixed oxides-sulfides transitioning to sulfide mineralization at depth. The entire California zone is underlain by a large, strong IP chargeability anomaly from 100 m depth down to at least 500 m that could represent the heart of a porphyry gold (copper, silver) sulfide system. A total of 810 m were drilled in the first five holes, and we are currently drilling hole nine. Our first two drill holes intersected anomalous but sub-economic copper-gold-molybdenum oxide mineralization from top to bottom in the Jasper zone west of the California zone. The main focus of our remaining holes in the Phase 1 drill program will be to systematically test the western half of the much larger California zone.
Palamina Corp. is pleased to announce that it will conduct a non-brokered private placement offering of up to 6,666,667 units at a purchase price of $0.30 per Unit, for aggregate gross proceeds of up to $2,000,000.
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