The Company intends to use the net proceeds from the offering primarily for advancing the development of the Avino mine and its operations and production, and to a lesser extent for the exploration and development of the Bralorne Mine Property, and for general working capital.
Riversides President and CEO, John-Mark Staude, stated: We are pleased to be listed on the OTCQB, as this provides an opportunity to attract a broader base of investors. Trading on the OTCQB will expand the company’s presence to new and existing shareholders in the U.S. with a transparent trading platform. Admission to the OTCQB exchange is part of our long-term strategy to introduce the company to a wide range of institutional and retail investors in the U.S.
“The Scorpuis deal is directly inline with our ongoing Upper Level Epithermal Strategy successfully implemented in Mexico and Argentina,” commented Terry Harbort, Vice President of Corporate Development for Sable. “We see Peru as one of Latin Americas most stable and prospective mining jurisdictions. Coupled with our extensive operational experience and geological knowledge in the country and the field indications evident at Scorpius, we are pleased to have the right to acquire this high quality gold project. We will be implementing an aggressive exploration campaign to quickly define and test drill targets”
IMPACT Silver Corp. is pleased to provide an exploration update on continuing rock sampling in the Santa Teresa Area of the Royal Mines of Zacualpan District in central Mexico. Recent results from the El Canelo vein systems at Santa Teresa averaged 6.5g/t gold over a true width of 1.66 meters along a strike length of 50 meters. The system remains open for expansion and parallel vein systems in the area are being mapped and sampled at this time.
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