The Company will use the proceeds of the financing carry out work on the inaugural +8000m diamond drill program at the Sonora property and provide general working capital.
The Technical Report titled “Independent NI 43-101 Technical Report, Zacatecas Properties, Zacatecas State, Mexico” dated January 28, 2022 supports the initial silver Mineral Resource Estimate at the Panuco Deposit within the Zacatecas Property.
“The latest drill results from the underground drilling program at San Marcial continue to impress, with the discovery of increasingly wide Ag intercepts at shallow depth. This result, combined with the recent high-grade, wide Ag intervals reported from drill hole SMI21-03, validates our model for the extension of the San Marcial Breccia Ag mineralization, along strike and down dip.”
Defiance Silver Corp. is pleased to announce that it has recommenced drilling at the company’s Zacatecas project in Mexico.
During the quarter 3,140 tonnes of ore were mined with 5,099 tonnes hauled to the surface at Plomosas. Mining at this rate is not sustainable due to high fixed costs at Plomosas however cost reductions did occur, some of which will be permanent.
A high-grade maiden JORC indicated and inferred mineral resource estimate (MRE) was delivered on schedule for the first drill target area of El Refugio–La Soledad in the Copalquin District, Mexico
Sierra Metals Inc. is pleased to announce the completion of an internal organizational review, following the strategic review announced in late 2021.
Ron Goguen, President & CEO of Colibri commented, “We are very pleased to have our team returning to the Evelyn Project and continuing to execute our drill plan. We will also be completing geological mapping in specific areas on the property to support our ongoing property wide interpretation and targeting for Phase 2 drilling. We are now receiving the assay results from the 3,122 metres of Phase 1 completed before the holidays and are compiling the data.”
Kootenay Silver Inc. is pleased to announce that Aztec Minerals Corp. has reported that the Aztec / Kootenay Joint Venture has completed the first 14 holes totaling 2,810.6 metres of the current 5,000 m, 22-hole Phase 2 reverse circulation drill program at the Cervantes Property located in Sonora State, Mexico.
“The results from the second 2021 drill program on the Candy vein at Nora are consistent with previous drill holes with high gold and silver grades from multiple mineralized bands within a wide altered structure. The Candy vein structure remains open for expansion along strike and to depth, and with additional strong widespread geochemical anomalies still to be tested throughout the project area at Nora suggest the potential for a significant gold-silver mineralized system.”
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