Vangold Mining Corp announces that, further to its news release of March 28, 2019, the Company has closed the second tranche of the private placement announced on March 13, 2019 for gross proceeds of $247,975.00, consisting of 4,959,500 units at a price of $0.05 per unit as detailed below. A finder’s fee of $14,248 cash and 284,950 warrants was paid.
Goldplay Exploration Ltd. is pleased to announce the appointment of two highly regarded mining executives, Jonathan Rubenstein and Derek White, to the Company’s Advisory Board. The Company’s Advisory Board was created to bring in members with experience in business development, equity markets and the natural resource sector to advise the Company’s management and Board of Directors.
It has been a landmark start to the year for MAG commented George Paspalas, President and CEO. The joint formal approval of the Juanicipio project is the culmination of what we as partners with Fresnillo have been working for some time now, and provides surety for our shareholders about our pathway to becoming a producer. I continue to emphasize however, that the exploration potential of the joint venture property remains very prospective, and the discovery of the NE oriented Venadas vein is the start of what we believe to be the next exciting opportunity to be unlocked at this remarkable property.
Mexus Gold US announced that on May 9th it paid off a note payable of $111,563 which was due on May 14th. In addition, the company announced that it is currently looking to hire two chemists and a geologist to assist Mexus associate Cesar Lemas at the Santa Elena mine. Mexus believes it has found a lead chemist and hopes to complete the hiring process this week. The additional staff is needed as the amount of assaying and general mine work is increasing weekly. Mexus expects the blast hole drilling occurring on the Julio vein to be completed by May 17th with the permitted blasting company to arrive shortly thereafter.
Sable Resources is pleased to announce that the TSX Venture Exchange has accepted for filing documentation pertaining an agreement dated May 30th 2017, between Sable Resources Ltd. and Minas Guilloyna/Cia Minera la Perla, whereby the company can earn 100% right, title and interest in the Margarita Project located in Chihuahua State, Mexico.
Defiance Silver Corp. is pleased to announce that Chris Wright has joined Defiance as a Director and Executive Chairman of the Board.
Paul Benson, President and CEO said, “Pleasingly, we had a strong first quarter with near-record consolidated production of over 112,000 gold equivalent ounces at lower cash costs, driven by solid performance at all three operations. Seabee achieved record production at near-record low cash costs, while Puna production and costs benefited from a full quarter of processing higher grade Chinchillas ore and increasing by-product credits. As a result, we delivered another quarter of solid financial performance and are well positioned to achieve record production for 2019.”
We had a strong start to the year with the mine and mill performing well, both hitting records in March of 256 tonnes per day mined and over 10,000 tonnes processed, respectively, stated Brendan Cahill, President and CEO. As noted previously, we ended Q1 with a stockpile of more than 2,800 tonnes of high-grade ore and delivered an additional 1,000 tonnes of concentrate early in Q2, which impacted financial results as approximately $3.4 million in revenue was deferred to Q2 that would normally be reflected in Q1. During the second quarter, we expect daily tonnage to continue at a steady rate and our cost profile to improve considerably.
This new Mineral Resource Estimate illustrates the continuity of the mineralization and continued expansion of the mineral deposit in the Cerro Las Minitas project and updates the previously reported January 2018 estimate. The new Resource Estimate incorporates additional data from a very successful drilling program of 10,157 metres in 2018-19, updated metal recoveries and pricing, application of a more rigorous specific gravity measurement protocol and further refinement of the resource wire frames.
Around $383 million was invested in exploration in Mexico last year, down 37.4% from the $612 million registered in 2017.
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