Transformative acquisition of Sun Minerals Pty Ltd completed. Experienced mining and exploration developers, John Skeet and Hall Stewart appointed. Capital raising successfully completed for $5.92M (before costs) to fully fund the maiden drilling program at the flagship Copalquin Gold Silver Project.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “After we identified a 3200 plus metre continuous chargeability anomaly with an IP geophysical survey, we drilled 3 holes into the southern end of the anomaly where it is the shallowest. Out there we hit stacked layers of disseminated sulphides. Now we are stepping back approximately 3000 metres to the north end of the anomaly.”
The Company intends to use the net proceeds of the Offering for the exploration of its San Jose Project and for general corporate and working capital purposes.
“Upon completion of the financing, we intend to immediately commence the deeper drill program, as the requisite permits are in place and both our technical team and the drill crews are based in Hermosillo and do not require any cross-border travel,” said Kenneth MacLeod, President and CEO of Sonoro.
Almaden intends to use the net proceeds of the Offering for permitting activities relating to the Ixtaca project, and for general corporate purposes.
The net proceeds of the Offering will be used to for the advancement of the Company’s Magino Project and for general corporate purposes.
Redstar Chairman Jacques Vaillancourt said “This is an exciting watershed for Redstar. The proposed acquisition promises several key strategic additions; a portfolio of exciting projects in Mexico, funding to achieve short term exploration goals and a strong addition to our management team with the appointment of Charles Funk. Unga will remain our flagship asset and our focus in 2020 will be to add to the maiden 383,318 oz gold resource grading 13.8 g/t at SH-1.”
Richard C. Adkerson, President and Chief Executive Officer, said, “We are pleased to report that execution of the underground ramp-up at Grasberg is advancing according to plan and recent milestones are encouraging as we target increasing volumes and cash flows from the Grasberg minerals district. We are also progressing our Lone Star copper leach project in Arizona and remain optimistic about the long-term opportunities for this large resource.”
Alien Metals Ltd, a minerals exploration and development company, announces the appointment with immediate effect of Mark Culbert as a Non-Executive Director of the Company.
Santacruz Silver CEO, Carlos A. Silva states, “Santacruz is very pleased to have attracted Bryan Slusarchuk and the Zacatecas Silver team to the Properties. While we identified the potential and acquired the Properties during the downturn in the silver cycle we are now pleased to vend these Properties to an experienced team that can advance the Properties and maximize shareholder value in current market conditions. By transacting with Zacatecas Silver, we anticipate that the Properties will be very well funded and aggressively drilled.”
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