Fabled Silver Gold Corp. announces the results of surface diamond drilling from the upgraded 14,400 -meter drill program on the “Santa Maria” Property in Parral, Mexico.
“The discovery of wide zones of high grade silver mineralization in the Black Shale unit of the Flat Formation surrounding the high grade quartz silver veins in the Sooy Vein, the Seitz Kelly Vein and now the Benjamin Vein located kilometers from each other is a game changing development at El Tigre.”
Carlos Silva, CEO of Santacruz, stated; “We continue to increase our mine production and revenue for the third and fifth consecutive quarter respectively. Production costs were impacted as a result of a Mexican labour reform that came into effect during the quarter. This labour reform required the Company to recognize certain labour liability accruals for their employees, including but not limited to vacation, holiday bonuses, annual bonuses, savings funds, and seniority departure payments which totaled approximately $1.3 million.”
Taj Singh, President and CEO, states: “With annual AgEq production averaging more than 26 Moz over a +15-year mine life we believe this PEA clearly positions Cordero as a Tier 1 silver asset. This impressive scale of production is achieved through modest development capex of $368 M and returns excellent margins with AISC averaging less than $12.50/AgEq oz over the life of the mine.”
“This transaction is in-line with our strategic vision of growing a multi-asset and sustainable copper business in the Americas. The combination of these two companies provides transformational near-term growth and further deepens our bench strength, particularly with respect to mine building, operational and leadership experience.”
Mr. John Theobald, President & CEO of Silverton, comments, “I am pleased to have successfully concluded a three-year access agreement for Pluton. The district is a major hydrothermal system with excellent potential to locate high-grade silver-zinc manto-chimney deposits similar to those mined in the historic Ojuela Mine and the nearby Platosa mine, which is Mexico’s highest-grade silver mine with a silver equivalent grade of over 1,000g/t.”
MAG intends to use the net proceeds of the Offering to fund exploration on Juanicipio and its other projects including Deer Trail, and to fund certain sustaining capital requirements at the Juanicipio Project not included in the initial project capital estimates, and for working capital and general corporate purposes.
GR Silver Mining President and CEO, Marcio Fonseca commented “The first drill results from our Loma Dorada target provide significant encouragement for us to continue prospecting in this area, with the objective of defining new high-grade zones within our Plomosas Project.”
James Anderson, Chairman and CEO, said, “As Mexico’s newest precious metals producer, we continue to advance towards the successful completion of this ramp-up stage at El Cubo.”
“I would like to thank our shareholders and the shareholders at Kirkland Lake Gold for supporting the merger of the two companies. We are very excited about the transaction as it positions Agnico Eagle as the leading low risk global gold company with growing production, low costs and strong ESG leadership,” said Sean Boyd, Agnico Eagle’s Chief Executive Officer.
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