Palamina Corp. is pleased to announce that it will conduct a non-brokered private placement offering of up to 6,250,000 units at a purchase price of $0.32 per Unit, for aggregate gross proceeds of up to $2,000,000.
Bradford Cooke, CEO, commented, In recent years, we diversified our growth strategy to include a portfolio of greenfields projects in Chile that have bulk tonnage potential. Our exploration group acquired and explored three attractive new projects to delineate high priority targets for drilling this year. The targets include low sulfidation epithermal silver at Aida, high sulfidation epithermal gold at Paloma and porphyry copper-molybdenum-gold at Cerro Marquez. We are thrilled to introduce today this new pipeline of growth projects and we look forward to drilling them in the second half of this year.
Candente Gold Corp. is pleased to announce that its Mexican subsidiary, Minera CCM El Oro Jales S.A. de CV has renewed the option, originally signed in 2013 and both re-newed and revised in 2017. This agreement allows the Re-Processing of the tailings deposit derived from the Mexico Mine, part of the San Rafael Vein in the El Oro District. The New Tailings Agreement signed in 2017, is to be ratified every three years, when the Municipality elects a new President and Council Members. There was no change to any previous terms in the Ratified Agreement.
VVC Exploration Corporation is pleased to provide a summary of final results from the 2017/2018 diamond drilling program at Companys Samalayuca Copper project in Northern Chihuahua state, Mexico. The drilling program was conducted in three phases, beginning in August 2017 and ending in November 2018. Sixty-two drill holes totalling 6700 meters tested a 5-kilometer long mineralized zone covering approximately two thirds of the length of the property. A total of 2,990 core samples were taken. Fifty-seven of the 62 holes had sections with copper grades greater than 0.1% copper, with some sections as high as 0.95%, and estimated true mineralization widths up to 36 meters…
The net proceeds of the financing will be used to pay for the drill program at the Pino de Plata project and general working capital.
Millrock President & CEO Gregory Beischer stated Millrock thanks Centerra for the investment they made in advancing these projects. While Centerra has elected to leave, we strongly believe the projects have excellent technical merit. We think they will be attractive to mid-tier or smaller mining companies. Our intention is to seek out new funding partners, but at the same time we will have to balance the cost to hold to La Navidad and El Picacho concessions in the face of Millrocks currently limited cash position.
Aura Resources Inc. announces that it has entered into a definitive agreement with Minaurum Gold Inc. and its Mexican subsidiary whereby Minaurum will acquire an interest in the Companys East Taviche property located in Oaxaca, Mexico. In accordance with the terms of the agreement, Minaurum will acquire an initial 80% interest in the East Taviche project…
We are very pleased to announce a 28% increase in the Measured and Indicated Mineral Resources at the Topia Mine to nearly 15 million silver equivalent ounces,” stated James Bannantine, President & CEO. “The Company was able to increase the resources even after mine depletion over the past four years. This update provides for a long mine life at Topia and supports the planned increase in processing capacity which is expected to increase 2019 production by approximately 25%. In addition, the conversion of Inferred Resources and further exploration potential provide a good opportunity to further extend mine life.
Silver One announces that it will be initiating a drill program at its 100% owned Peñasco Quemado project located in Sonora, Mexico. The proposed program, scheduled to begin by mid-February 2019, will consist of approximately 1000 metres of diamond drilling to test selected targets within strong zinc-lead and other metal geochemical and coincidental geophysical anomalies previously identified.
As previously disclosed, fourth quarter 2018 gold production of 630,000 ounces exceeded guidance. All-in sustaining costs for the full year are expected to be in line with guidance of $850 per ounce.
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