Greg Crowe, President and CEO commented: “This updated resource on the two historic leach pads is based upon results from a sonic drill program and metallurgical studies completed by Silver One as well as historic drill hole information from previous operators.”
The proceeds from the sale of the Shares will be used for the exploration, development and/or improvement of the Company’s existing mine properties, including those relating to bringing Relief Canyon into commercial production and for working capital and general corporate purposes.
Millrock Resources Inc. reports that drilling at the Echo Target on the West Pogo block of the 64North gold project in Alaska has now begun.
The net proceeds raised under the Offerings will be used to fund the cash payment for the Transaction and for general working capital purposes inclusive of funding costs associated with the continued exploration and development of the Cerro Las Minitas polymetallic mineral property in Durango, Mexico. Up to 10,000 metres of new drilling is planned on the property, commencing in mid-September.
“I am very excited to be joining the Zanzibar team,” said Greg Bronson. “I believe Zanzibar has a great future with its newly acquired Sonora Gold project. Zanzibar has developed a talented Canadian/Mexican exploration team that uniquely positions it to capitalize on the growing gold environment. As the gold sector evolves through higher commodity prices, I believe Zanzibar can provide cost-effective exploration results and timely project news with Sonora Gold project.”
“Odyssey is ready to move this important project forward for the benefit of the people of Mexico as well as our shareholders,” said Mark Gordon, Odyssey Chairman and Chief Executive Officer.
Morgan Good, Chief Executive Officer of Carlyle, commented: “We are very excited and extremely fortunate to have the likes of Mr. Jessup and Mr. Blanchet on our newly formed Advisory Board.”
Riverside’s President and CEO, John-Mark Staude, stated: “We continue our Company’s generative approach acquiring district scale projects whereby major mining companies can work systematically with Riverside and without serious third-party ownership interference. This Greenstone belt has been largely ignored since the last gold cycle. With recent discoveries in Red Lake and Rainy River explorers have focused on those areas and we believe the potential for new discoveries in this belt is excellent with the application of modern exploration approaches.”
“With our recent work defining a large footprint of high-grade mineralisation at El Fierro, this strong interest from both institutional and retail investors firmly supports our decision to advance aggressively to drill phase at this project,” stated Ruben Padilla, President & CEO.
Tim Barry, President, CEO and director of Silver Bull states, “We are extremely pleased to enter into this agreement with Copperbelt. We believe the Beskauga copper-gold Project represents one of the best exploration opportunities in the world. The high quality work that has been completed on the project to date indicates Beskauga is a huge mineralizing system that has considerable upside that has yet to be explored.”
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