Nomad Royalty Company Ltd. is pleased to announce, further to its press release dated August 30, 2021, that it has closed its previously announced amended revolving credit facility for US$125 million with the option to increase to US$150 million, subject to satisfaction of certain conditions.
Chris Ritchie, President, commented, “SilverCrest has adopted a successful systematic and responsible phased approach focused on capital efficiency and risk mitigation. Our team has had tremendous success defining a high grade primary silver resource and reserve and positioning Las Chispas to enter production less than seven years from the first drill hole at the project.”
Michael Konnert, President and Chief Executive Officer of the Company stated: “As all of our efforts continue to be focused on the Panuco silver-gold project in Mexico, we believe that the spin out of the Company’s early-stage copper assets will allow for independent advancement of otherwise non-core assets creating significant shareholder value.”
Tarachi CEO Cameron Tymstra commented: “We are very happy with the leaching results from drill samples on the road-accessible Jabali concession. All three samples demonstrated that the mineralized material at Jabali is amenable to gold recovery by cyanide leaching over a range of head grades.”
The Company began recalling its workers as of September 11, 2021 and commenced re-opening the operation as of September 13, 2021 as the employees arrived on site. Given the favourable conditions of both the mine and mill, new mine production and concentrate is expected to start shipping in October 2021.
Drilling at San Sebastian continued in both the El Bronco and El Toro vein systems. Drilling completed in the El Bronco vein targeted gaps in the drill data. While we have had good vein widths and grades at the current level of drilling at El Bronco, continuity of grade has been challenging.
Greg Bronson, President states. “Completing the Technical Report on the Benjamin Hill property ahead of our inaugural drill program, which is set to commence this fall, is a major milestone in our pursuit of a multi-million-ounce gold deposit.”
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