The initial 5-hole diamond drilling program measured a total of 815.6 meters in length and tested two separate mineralized corridors of initial interest named “Cerro Rojo” and “El Sahuaro”.
On February 24, Excellon entered into a definitive arrangement agreement with Otis, whereby, subject to the terms and conditions of the Arrangement Agreement, Excellon will acquire all of the Otis Shares on the basis of 0.23 of an Excellon common share for each Otis Share.
“The acquisition of the royalty further reduces costs at what is already a low-cost operation while also increasing our exposure to the tremendous exploration upside. Since we acquired Island Gold in 2017, the Mineral Reserve and Resource base has doubled with the deposit approaching four million ounces across all categories. With the deposit open laterally and down-plunge across several areas of focus, we see excellent potential for this growth to continue at a greatly reduced royalty on future production,” said John A. McCluskey, President and Chief Executive Officer.
Pan American Silver Corp. has filed its 2019 audited annual financial statements and related management’s discussion and analysis together with its 2019 annual information form with the applicable Canadian securities regulatory authorities on SEDAR.
Jorge A. Ganoza, President and CEO, commented, “Our production results and cost execution were in-line with our guidance for 2019 generating a strong EBITDA margin of 37% and free cash flow from ongoing operations of $35 million.”
The proceeds of the Placement will be used entirely to fund drill programs on the Company’s high-grade silver-gold exploration projects in Mexico.
Almaden intends to use the net proceeds of the Offering for permitting activities relating to the Ixtaca project, and for general corporate purposes.
Santacruz Silver Mining Ltd. announces that, following a review of its Veta Grande Mine operations in Zacatecas, Mexico the Company has decided to suspend the operation of the processing facility for approximately six months to facilitate plant and new tailings storage facility upgrades.
Ross Beaty, Executive Chair of Equinox Gold, stated: “We have created a major gold producer by combining the assets and leadership teams of Equinox Gold and Leagold, with a peer-leading growth profile and powerful financial, technical and operational management. Equinox Gold now has six producing mines, two development projects, two expansion projects and the financial capacity to fund its development plans.”
“We’ve increased the pace of drilling at the Los Ricos South Project and continue to hit wide intercepts of good grade. We’ve released the results of our first short holes along the el Abra outcrop which confirm grade starts at surface, including hole 102 which showed 10.7m of 235 g/t silver equivalent,” said Brad Langille, President and CEO.
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