Update – Candelaria Provides a Corporate Update
July 10, 2020
The Company announces that it has accepted the resignation of Curtis Turner as Chief Executive Officer and Director.
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The Company announces that it has accepted the resignation of Curtis Turner as Chief Executive Officer and Director.
On closing of the Transaction, each of the Alacer issued and outstanding common shares will be exchanged for 0.3246 of an SSR Mining common share.
Subject to the receipt of all regulatory approvals, the Company will issue 4,014,998 Units, each Unit consisting of 1 common share and 1 common share purchase warrant, each warrant being exercisable at $0.10 for 24 months, for gross proceeds of $301,125. Proceeds from the financing will be used to fund drilling at the Tabasquena project near Ojocaliente, Mexico and for general corporate purposes.
Canasil President and CEO, Bahman Yamini, commented: “We are pleased to report that drilling has started as planned on the Candy vein at the Nora project. We look forward to the results from this initial drill program, which will test the first of multiple targets at the project. The Nora project is exceptionally well located in a region hosting large silver-gold mines and deposits, and presents the opportunity for discovery of a high-grade silver-gold epithermal vein system.”
Millrock President & CEO commented: “Hole 20AU004 is an exciting hole to drill. We believe the gold mineralization at surface is a good indicator for gold below surface in flat-lying structures.”
Avino Silver & Gold Mines Ltd. reports that members from the Mexican mining union have blocked the entrance to the Avino Mine near Durango, Mexico.
“Our quick actions at the beginning of the pandemic minimized impact on our operations and finances, so production and cash flow generation were strong this quarter,” said Phillips S. Baker, Jr., Hecla’s President and CEO.
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