Alamos Gold Inc. regrets to announce a serious accident occurred today at its Mulatos Mine in Mexico. The accident involved an unexpected pit slope movement in the El Salto area of the open pit where pre-stripping activities were being conducted.
Exploration and development company Bacanora Lithium revealed Thursday it is preparing a 2019 stock exchange listing for the subsidiary that holds its 50%-owned Zinnwald lithium deposit in southern Saxony, Germany.
One World Lithium Inc. clarifies that in its news release of December 13, 2018 titled One World Lithium Progress Report the date of the property tour by the drilling company should have read December 18, 2018.
One World Lithium Inc. is in the process of reaching an agreement on a provisional bid to complete a 12 hole 4,200 meter (13,800 foot) drilling program with an international drilling company that has regional operations in Hermosillo, Mexico.
Chesapeake Gold Corp. wishes to provide an update on the exploration work at its 100% owned Yarely Project in Sinaloa State and Tatatila Project in Veracruz State, Mexico. Yarely is located 25 kilometres west of the proposed Metates plant site and encompasses 76,200 hectares. Metates is Chesapeakes flagship project which hosts one of the largest undeveloped gold, silver and zinc reserves in the world. Tatatila is a district scale project hosting goldcopper skarn mineralization which strategically surrounds Mexican Gold Corp.s Las Minas project.
Ridgestone Mining Inc. announces that it has received partial results from a recently completed 12 hole, 1,430 meter diamond drill program at its Rebeico gold-copper project located within the prolific Sierra Madre gold belt, Sonora, Mexico
As stated previously, the receipt of formal permit notifications for the La Fortuna gold project represents a major milestone for the Company. We are appreciative of the support provided by Osisko Gold Royalties allowing for us to meet the permitting payment deadlines, stated Minera Alamos CEO Darren Koningen. We can now look forward to 2019 and the beginning of site preparation work leading to a construction decision later in the year.
N. Eric Fier, CPG, P.Eng, and CEO, remarked, With further positive results from closely spaced in-fill drilling, we continue to confirm the continuity of high-grade mineralization in the Babicanora Vein, including the Area 51 zone. These additional drill holes are indicating wider mineralized thicknesses in several areas than previously modelled and are starting to identify discrete multi-kilograms per tonne mineralized shoots.
The Company raised a total of $9.8 million CAD over three tranches in the third quarter of 2018. A significant portion of these funds have been used to enable two significant diamond drilling and geological exploration programs at the above Kena Gold Project and the Manto Negro copper project in northeastern Mexico. As noted, the Kena program is now complete and the Phase 1 Manto Negro drill program is ongoing and expected to be completed by the end of January/early February 2019. In addition to diamond drilling with up to three drill rigs, the Manto Negro program has also included road building and upgrades, the installation of a full service camp and related infrastructure and services for water, telecommunications, and accommodations. Assays results from the current program are pending.
“We continue to be in discussions with a number of industry and finance parties with regards to completing Sonora’s finance package at the asset level. Bearing in mind our offtake partner Hanwa, SGRF, the sovereign wealth fund of the Sultanate of Oman, and RK Mine Finance all carried out due diligence ahead of agreeing to provide funds for the construction phase at Sonora, we remain confident the outstanding funds will be secured in due course. We recently announced the appointment of Citigroup Global Markets Limited (“Citi”) to lead the equity financing of the Sonora project alongside Canaccord Genuity, both of whom shall also act as joint corporate brokers.
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