Candelaria Mining Corp. is pleased to announce that, further to its press release of September 22, 2021, it has closed its second and final tranche of its non-brokered private placement for a gross proceeds of $511,648 through the issuance of 1,136,997 units of the Company at a price of $0.45 per Unit.
During the quarter 9,123 tonnes of ore were mined with 9,817 tonnes hauled to the surface at Plomosas.
The Company issued a total of 4,396,667 common shares at a price of $0.15 per Share to raise gross proceeds of $659,500.05.
The Company wishes to provide an update with respect to the previously announced proposed acquisition of a portfolio of Bolivian mining assets from Glencore.
Initial drilling will focus on the Noria portion of the La Joya property, where relogging and resampling of select historical drill core has been ongoing along with a targeted surface sampling and mapping program to refine drill collar locations. Drill hole collar locations have been selected, drill pad construction is in progress, and drilling is expected to commence shortly.
The Company has received a final order from the Supreme Court of British Columbia dated September 21, 2021, and shareholder approval pursuant to an annual and special meeting of the Company held on September 15, 2021, to implement the spin-out of 80% of the Company interest in mineral exploration assets located in Canada to its shareholders by way of a share capital reorganization effected through a statutory plan of arrangement with Kootenay Resources Inc., a wholly-owned subsidiary of the Company.
“We are very pleased that our broadly-spaced systematic drilling program appears to have led us to the threshold of the source of this important historic district. Our main goal for Phase 1 was to locate high-grade mineralization associated with the right style of intrusion, and it turns out we have discovered not only the largest intrusive ever found in the district, but it’s the first mineralized skarn ever seen in Guigui.” stated Jorge Ramiro Monroy, Reyna Silver’s CEO.
“With this first sale of concentrate, we have completed the transition to the status of a silver and gold producer and established a new precious metals company in the heart of Mexico,” said GSilver Chairman and CEO James Anderson
“Newmont delivered on a challenging third quarter performance with $1.3 billion in adjusted EBITDA and $735 million in free cash flow, building momentum for a strong fourth quarter,” said Tom Palmer, Newmont President and Chief Executive Officer.
Orogen Royalties Inc. is pleased to announce an update for its royalty portfolio including the Ermitaño 2% Net Smelter Return royalty in Sonora, Mexico and the Silicon 1% NSR royalty in Nevada, USA.
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