Magna Gold Corp. Announces Fiscal Year-End Change
November 30, 2020
Magna Gold Corp. is pleased to announce a fiscal year-end change from March 31 to December 31.
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Magna Gold Corp. is pleased to announce a fiscal year-end change from March 31 to December 31.
“Silver Spruce is building its grassroots exploration portfolio in a very productive, mining-friendly region only two kilometres from our El Mezquite property, adjacent to Minera Alamos’ Santana project, and closer to their Nicho gold deposit currently on track for development,” said Greg Davison, Silver Spruce Director and VP Exploration.
“The arrival of additional underground equipment at both Zimapan and Rosario during mid-October has been essential to our month over month increased production and cost efficiencies which should allow us to reach budgeted operational levels during Q4 2020.”
Capitan’s CEO, Alberto Orozco, stated: “We are very excited to receive the first batch of drill hole assays from our program on Capitan Hill at the Peñoles Project. This first batch of drill holes demonstrates strong continuity of gold-silver mineralization, particularly down- and up-dip; and they are also showing silver mineralization at depth to be more significant than previously thought.”
Mexus CEO Paul Thomspon Sr. added that gold production by year end should reach 225 oz.
“The maiden drill holes at the El Refugio target have shown the area to be part of a large hydrothermal system. The broad quartz breccia zones punctuated with high grade gold-silver veins has been drill tested over 300m and is building the model of a large gold-silver system that is characterised by extensive surface alteration and rhyolite dome intrusions.”
“The start of earth moving on site marks another important milestone in the development of Camino Rojo made possible through the collective efforts of our team and stakeholders,” stated Jason Simpson, President and Chief Executive Officer of Orla. “Project advancement continues in a controlled manner as we focus on maintaining the health and safety of our personnel.”
We have now completed 43,640 m (111 holes) as part of our expanded 55,000 m Phase 1 drill program. There are currently four drill rigs operational on site. Additional drill rigs may be added when the Company is confident that the health and safety risks related to COVID-19 can be managed effectively.
With the much improved outlook for silver prices, Xtierra announced on September 24, 2020, that it intends to drill the high-grade silver potential at Bilbao in 2 areas. The company will undertake a small drill campaign of 5 holes for a total of 1500 meters into two previously identified areas of high-grade silver mineralization.
Morgan J. Poliquin, President and CEO of Almaden, stated “The presence of pathfinder elements in these samples is very encouraging as it corroborates our view that the SE Alteration Zone could represent the higher levels of a potential underlying epithermal system. It is quite typical that the higher parts of these systems contain negligible precious metals values. We look forward to continued mapping, and eventually drilling, in this area.”
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