Empress Royalty Corp. is pleased to announce that due to significant demand, the Company has increased the gross proceeds of the previously announced bought deal public offering from C$12 million to C$15 million.
In addition to targeting resource confirmation and upgrade through the current re-sampling and metallurgical work, there is also potential to significantly enhance the deposit through drilling. The Panuco deposit is open at depth and along strike. With a deep understanding of the geological structure and mineralization at Zacatecas, an extensive drill program is designed to expand the resource at Panuco as well as target high-grade silver at El Cristo and other key targets.
“Coming out of the suspension in Q2 2020, we turned the operation around, improving productivity and reducing costs – though concentrate treatment charges remained high and a strain on cash flow. But 2020 set the stage for what we believe will be a new year full of resource growth and discovery, as we advance and commence drilling programs on almost all of our projects.”
VanGold Mining Corp is pleased to announce it has signed a definitive asset purchase agreement with Endeavour Silver Corp. to acquire the El Cubo mine and mill complex located 8km by road northeast of the Company’s El Pinguico silver-gold project near the city of Guanajuato, Mexico.
“The Casados deposit is exceeding our expectations in both the width of the structures and the grade. These holes drilled at Casados are some of the best grades and widths we’ve seen and are below the previous limited mining which went down to 160m,” said Brad Langille, President and CEO.
Bradford Cooke, Endeavour CEO, commented, “Inclusion in these two major indices is a great milestone for the Company, validating our recent success and providing greater visibility to investors. Constituents of these indices receive both an increase in the company profile and inclusion in mutual and pension funds that use these indices as benchmarks.”
Chesapeake plans to drill approximately 2,500 meters to recover 10 tonnes of large diameter core (PQ) to undertake metallurgical testwork in support of a potential sulphide heap leach mine operation. Major Drilling has commenced mobilizing to site this week.
The mineralization at Maricela consists of a series of intersecting epithermal vein systems and associated vein stockworks and breccias that have potential for bulk tonnage open pit deposit as well as high grade underground vein targets. Radius geologists have spent a week on the property conducting due diligence, preliminary mapping and rock chip sampling and the system appears to be open for expansion.
The Company intends to use the majority of the net proceeds of the offering for preparation and submission of applications for permits required to commence construction of the Ixtaca project, additional engineering work, exploration activities, legal and consulting costs, and for general working capital purposes.
Mr. Thomson brings over 35 years of senior strategic mergers and acquisitions experience in the mining industry. Mr. Thomson currently serves as Senior Executive Vice President, Strategic Matters for Barrick Gold Corporation where he is involved in all matters of strategic significance, including the management of complex negotiations, development of corporate strategy, involvement in complex legal issues, and governance related matters.
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