“Carlos strengthens our Board with his many years of experience in the mining industry as a successful mine builder and operator, particularly over the more recent years in senior management roles.” stated Arturo Prestamo, Santacruz’s CEO. He added, “Carlos is a great leader and is a welcome addition to our Board.”
Layne Drilling is drilling on 24-hour, 7-day a week basis, and the operator (Montgomery & Associates) reports no drilling difficulties. Changes in drilling methodology for the Phase III program have been shown to be successful and drilling to target depths of up to 600 meters are expected to be achieved.
ASARCO issued a statement indicating that it was disappointed with the decision to strike, which it said involved seven of its eight unions. The company said it continues to negotiate in good faith and remains “committed to reaching a new agreement”. The USW said it hopes to bring the strike to a quick end, but the main negotiation objectives of the two sides seem a long way apart.
“Following a comprehensive selection process, led by our Chief Financial Officer Etienne Morin, and supported by our independent advisors Cutfield Freeman & Co., some of our key shareholders have re-iterated their support by agreeing to provide Orla with a simple and flexible debt facility, the proceeds of which will be used for the development of our first mine. We appreciate the interest of other debt providers, ranging from conventional banks to streaming companies and alternative debt funds, who were willing to support the Orla team and were eager to be part of our company’s growth”, stated Jason Simpson, President and Chief Executive Officer.
Harvest Gold Corporation announces that, further to its news release of October 1, 2019, the Company has completed its consolidation on the basis of one new common share for every ten old Shares held.
Advance Gold Corp. announces that,subject to the approval of the TSX Venture Exchange, it proposes to extend the conversion period of its $100,000 convertible debenture issued November 20, 2018, with a conversion date of November 20, 2019, by one year to November 20, 2020.
Galore Resources Inc. announced the completion of 1667.2 meters of core drilling at it’s 100% owned El Alamo claim. Results from the balance of the drill holes are still at the lab pending release. According to Galore’s geologists and as reported in Galore’s September news release, the drill results to date indicate a lower and much larger zone of mineralization associated with brecciated limestone, interpreted to represent a large structure dipping to the south. For this reason Galore has decided to cease drilling in order to map and sample this trend at the base of El Alamo hill and redesign the drill program. We look forward to resuming drilling very soon.
The Stock Day Podcast welcomed GoGold Resources, a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high-quality projects in Mexico. President and CEO of the Company, Bradley Langille, joined Stock Day host Everett Jolly.
Millrock President & CEO commented: “Upon completion of the due diligence period, Millrock will be very pleased to enter the contemplated agreement. Under the agreement terms, Millrock will become a significant shareholder of N27 giving great leverage if ore bodies are discovered. The planned US$5,000,000 exploration program for 2020 will provide funds for a thorough test of the compelling drill target we have developed at the West Pogo Block of the project, which is immediately adjacent to the Pogo Gold Mine. N27 shares our view that the Goodpaster Gold District has the potential to become one of the world’s great gold mining camps. As well, over the next two years, at least US$2,000,000 will be devoted to advancing other intriguing prospects we have developed.”
Magellan Gold Corp has entered into a binding agreement, dated October 16, 2019, with Golden Minerals Company for the assignment of the option to earn a 100% interest in the Santa Maria Project in Chihuahua State, Mexico. The agreement provides for a 150-day period to complete due diligence and secure adequate funding and enter into a definitive agreement which will formalize the Transaction. Golden currently owns a 100% interest in the Santa Maria Mine, subject to US$200,000 in property payments.
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