Updated Mineral Resource estimate after mining depletion for Plomosas mine totals 986,000 tonnes @ 13.2% Zn and 3.7% Pb for 166,500 tonnes of contained metal in Indicated and Inferred categories.
The net proceeds from the Offering will be used to fund the ongoing development of a proposed heap leach mining operation at the Company’s Cerro Caliche gold project in Sonora, Mexico. Funds will be allocated principally for permitting, land agreements, drilling and technical studies, and secondarily for corporate and general administrative expenses.
“The latest results at El Cuervo further demonstrate that multiple structures at the Amalia Property contain significant wide zones of gold and silver mineralization. We are excited to continue adding to the large developing potential at Amalia with ongoing drilling at El Cuervo,” comments Bruce Smith, President and CEO.
“Newmont delivered a solid first quarter performance with $1.4 billion in adjusted EBITDA as we safely managed through the Omicron surge. The strength of our proven operating model and global portfolio in the world’s best mining jurisdictions is the foundation of Newmont’s clear and consistent strategy to create value and improve lives through sustainable and responsible mining.”
Gatos Silver, Inc. today announced that it received a notice from the New York Stock Exchange stating that the Company was not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Annual Report on Form 10-K for the year ended December 31, 2021 with the U.S. Securities and Exchange Commission.
“The work completed during the quarter has laid the groundwork for exploration drilling to develop the resource potential of the Copalquin District as well as drilling to expand the maiden resource which is already substantial due to its high-grades for gold and silver.”
President and CEO Arturo Bonillas commented; “Delivery of a maiden resource estimate is a huge milestone for the Company. The team delivered this robust resource on schedule and on budget. We have unlocked tremendous value through the drill bit and there is great potential for significant resource growth in the near term.”
Equinox Gold Corp. has completed the sale of its Mercedes Mine in Mexico to Bear Creek Mining Corporation as announced on December 17, 2021, for US$75 million, a deferred cash payment of US$25 million due within six months of the date hereof, a 2% net smelter return on Mercedes production and 24.73 million shares of Bear Creek Mining.
“We are extremely pleased to have acquired a producing gold-silver mine with a strong operating team, underlying assets with a replacement cost exceeding our purchase price and what we believe to be exciting “blue sky” exploration potential,” commented Anthony Hawkshaw, President and CEO.
Mel Herdrick, Sonoro’s VP Exploration noted, “With the discovery of multiple prospective high-grade ore-shoots identified by drilling at El Colorado, we are developing an understanding of the permissible extent and trend of these potential ore-shoots that may have up to seven additional repetitions in the footwall of the Guadalupe vein zone extending up to 700 meters to the northwest of El Colorado.”
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