Mexican Gold Corp. is pleased to announce that further to its July 15, 2019 news release announcing the closing of its non-brokered private placement of 50,000,000 common shares and 50,000,000 share purchase warrants, the Company is pleased to announce that it has received TSX Venture Exchange approval for the listing of the Warrants.
N. Eric Fier, CPG, P.Eng, and CEO, remarked, “With the recent discovery and expansion of the Babi Vista Vein, we continue to add value through the drill bit at Las Chispas as we systematically discover and expand high-grade silver-gold mineralization in the district. These new drill results for Babi Vista are impressive, with the wider higher-grade intersections to depth being some of the widest mineralized vein intercepts on the property.”
“The acquisition of the Suanse Property solidifies the exploration potential of the greater Llano del Nogal project,” commented Paddy Nicol, CEO of Evrim. “In particular, Evrim’s Suanse porphyry target sits on the margin of the Suanse property boundary and can now be explored more completely and effectively. Evrim is seeking a partner for this exciting exploration opportunity.”
President and CEO, Arturo Bonillas stated: “The final four holes of the 2019 drill program at Mercedes was successful in drilling multiple gold intercepts of significant width and grade. We are looking forward to continued drilling success in 2020.”
“We are continuing with the plan to mill higher grade ore producing more profitable ounces and we believe we are on the right track. This last quarter has reflected all the measures taken to reduce costs and improve ore grade and we have shown a steady improvement each month. The number of meters developed in preparation and exploration continues to increase and it has contributed to the steady increase of production and reserves.” reported Salvador Garcia, Chief Operating Officer of the company.
Igor Gonzales, President, and CEO of Sierra Metals stated: “I am proud of the Company’s achievements in the third quarter. We were able to generate one of the Company’s highest quarters of operating cash flows of $21.8 million, with free cash flow of $1.9 million despite lower metal prices as a result of record quarterly consolidated equivalent metal production and throughput.”
“As we approach the end of 2019, the Company remains on-track to deliver first gold pour before year end at Relief Canyon, on time and on budget,” said Americas President & CEO Darren Blasutti. “The Cosalá Operations continues to outperform our expectations. A solid Recapitalization Plan with the necessary capital from Eric Sprott provides a clear path forward to increase production with reduced costs at the Galena Complex.”
“We are excited for the company to be venturing into the fast-growing market for IoT applications, and to be able to bring Industrial IoT applications to companies within our resource network. Canuc’s exclusive rights for energy and mining sector IoT applications in key jurisdictions in North America can bring meaningful success at a time when these technologies are revolutionizing extractive industries with productivity, logistical and safety improvements” stated Chris Berlet, CEO of Canuc.
The Private Placement consists of a total of 96,013,901 units priced at $0.015 for proceeds of $1,440,208.51.
Proceeds of the loan will be primarily used for exploration activities at the Company’s Evelyn and El Mezquite gold projects as well as for general working capital purposes.
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