Currently Galore Resources is preparing for the next phase of drilling at El Alamo, which will test the easterly extension of the mineralized feature identified so far, and the Company continues to be in negotiation to drill some of its other prospects at Dos Santos.
Sonoro’s Chairman, John Darch, concluded, “The importance of this independent confirmation of the gold recoveries which now form the basis of our assessment of a 20,000 tpd heap leach mining operation cannot be understated as they are a critical milestone with regard to the project’s advancement.”
SILVERTON METALS CORP. (formerly, Plymouth Realty Capital Corp.) and SILVER ONE RESOURCES INC. are pleased to announce that Silverton has completed its previously announced “Qualifying Transaction” with the acquisition of three silver-focused Mexican mineral properties, being Peñasco Quemado, Sonora; La Frazada, Nayarit; and Pluton, Durango from Silver One by acquiring all of the issued and outstanding shares of KCP Minerals Inc.
Greg Crowe, President and CEO of Silver One commented: “Silver One has been focusing on our advanced exploration assets in Nevada (Candelaria and Cherokee) and Arizona (Phoenix Silver), both recently rated by the Fraser Institute as the top two mining jurisdictions in the world. The sale of the Mexican exploration assets allows us to further concentrate our efforts on these rapidly developing projects.”
The Company has completed a helicopter magnetics survey performed by Terraquest Ltd. using a high sensitivity cesium vapour magnetometer, a gamma ray spectrometer and TQ’s proprietary Matrix very low frequency electromagnetic system.
The Company has contracted GlobeXplore, S.A. de C.V. of Hermosillo, Sonora, Mexico to conduct the drilling at Columba. Results of the drill program will be announced as soon as the assays are received and interpreted by the Company.
Despite repeated attempts by the Company to encourage the Government of Mexico to engage in good faith negotiations to resolve the dispute, the Government has refused to engage.
Advance Gold has the right to purchase 90% interest in 13 lithium-potassium-boron prospective salars in the states of Zacatecas and San Luis Potosi, Mexico from Hot Spring Mining a private Mexican company.
An aggregate of 38,333,334 Shares at a price of C$0.60 per Share for gross proceeds to the Company of approximately C$23 million were sold including 5,000,000 Shares for gross proceeds of approximately $3 million on the exercise in full of the over-allotment option granted by the Corporation to the syndicate of underwriters.
Orex’s President and CEO, Ben Whiting, said; “This is an excellent opportunity to consolidate the majority of the mineral district. There are multiple precious metal targets, as well as the existing Boleras Silver Deposit. We at Orex look forward to working with Pan American to advance the Sandra-Escobar Project.”
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