Prospero will allocate the proceeds of the private placement to drill testing the company’s Bermudez project in Chihuahua State, Mexico. Drilling began at Bermudez in late August and Prospero plans to complete a three-hole (approximately 1,500 metres) diamond drill program at Bermudez.
New Gold Inc. is pleased to announce the appointment of Anne Day as Vice President, Investor Relations of the Company, effective September 18, 2018.
Two underground production drillers fell into a void after the ground below them collapsed. The area was immediately evacuated and all underground operations were suspended pending emergency response and initial investigation. The Company is working closely and cooperatively with the authorities to respond to the situation. The ground collapse occurred in a highly localized area and does not affect other portions of the mine. Operations have resumed except in the specific level of the underground mine where the incident occurred.
At Manto Negro, diamond drilling is focused on the deposit areas known as El Granizo and Pilar Grande. While these showings lie on the same stratigraphic horizon, they are 18 kilometres apart and are only two of thirty-five known high-grade copper showings that exist on the extensive property. The drill program will consist of approximately 3,000 metres in 30 holes, divided equally between the two areas. This first drill program is designed to provide a good understanding of the style, grade and continuity of the copper mineralization and lay the foundation for follow-up drilling to define a resource.
“Given the grade and substantially thicker intervals in multiple new drill intercepts, including holes well up-dip of the March 31 resource model, we have decided to re-estimate the MNFWZ Mineral Resource,” said Brad Mercer, Senior Vice President of Exploration at Capstone. “We have completed drilling up-dip and along strike, and to a lesser extent down-dip, from the March 2018 Mineral Resource estimate. We intend to keep drilling with five to six drills for the remainder of 2018, both stepping out and infilling the MNFWZ extension.”
Dunham Craig, President and CEO of ValOro, said “Combining ValOro with Defiance presents an opportunity to build a premier exploration company focused on Mexico, driven by an experienced management team and the opportunity to significantly enhance the long term growth potential of the Tepal gold-copper project. With a 2017 Preliminary Economic Assessment that produced positive economic results coupled with our 2017 and 2018 exploration work in preparation for a drill program to potentially expand the resource and test new targets, this transaction provides further value accretion by coupling our asset with the exploration potential at the San Acacio Silver deposit, further providing value accretion for ValOro and our shareholders.”
IMPACT Silver Corp. announces the resignation of James O’Sullivan as Corporate Secretary and the appointment of Graeme Austin as the new Corporate Secretary of the Company.
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