The proceeds from the private placement will be used for Oceanus El Tigre Property in Sonora, Mexico and for general working capital purposes. The private placement remains subject to final acceptance by the TSX Venture Exchange.
Mr. Barry Devlin, Vice President of Exploration, commented, Our 2018 drill campaign at Alta Gracia was a success on many fronts, particularly the discovery of a wide, high-grade zone within the Independencia vein system and the potential expansion to the Mirador Mine. “
Underground drilling at Platosa continues to deliver great results, stated Ben Pullinger, Senior Vice President Geology. We are especially encouraged by the elevated gold values and significant widths encountered in the drilling at the 623 Manto in EX18UG434 and 435, which exceeded our expectations and are worthy of follow-up.
Mr. Anderson stated, I am pleased to become the Chairman of Mexican Gold Corp and look forward to working with both Dr. Hering and Mr. Robertson to grow the Company. Mexican Gold will be advancing its Las Minas Project to the pre-Feasibility stage, while continuing to explore this gold rich project. In addition, the company may evaluate other quality acquisition and exploration opportunities. This strategic plan will optimize both shareholder value and growth.
Alamos Gold Inc. is pleased to announce the appointment of Chris Rockingham as its Vice President, Exploration.
New Gold Inc. is pleased to announce the appointment of Anne Day as Vice President, Investor Relations of the Company, effective September 18, 2018.
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.
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.”
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