Month: January 2017

Mammoth Resources Reports Results From its Pima-XRD Surface Program at its Tenoriba Precious Metal Project, Chihuahua, Mexico

Thomas Atkins, President and CEO of Mammoth commented on the results from this program stating: “We’re pleased with the results from the PIMA-XRD survey. These results provide us with improved recognition of areas within the larger 15 square kilometer area of precious metal mineralization that would appear to be nearer more intense hydrothermal activity. The model for a High Sulphidation precious metal system, as is believed to exist at Tenoriba, suggests that the nearer the source of hydrothermal activity, the nearer one is to identifying the sources of the precious metal mineralization on the property. The results of this program combined with additional indications hydrothermal activity such as hydrothermal breccias, intense silicification and vuggy silica, associated with favourable geochemistry and precious metal mineralization, reinforces and helps better define the most likely source of the mineralization on the property….

Alamos Gold Announces US$250 Million Bought Deal Financing

Alamos Gold Inc. today announced that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc., BMO Capital Markets and Macquarie Capital Markets Canada Ltd., pursuant to which they have agreed to purchase, on a bought deal basis, 31,450,000 common shares of the Company at a price of US$7.95 per common share, for aggregate gross proceeds to the Company of approximately US$250 million. The underwriters will also have the option, exercisable in whole or in part, at any time up to 30 days following the closing of the Offering, to purchase up to an additional 4,717,500 common shares at the Offering Price to cover over-allotments, if any. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the Offering to the Company will be approximately US$288 million.

Fresnillo prevé reducir hasta en 6.9% producción de oro en 2017

“Me complace informar que Fresnillo plc ha logrado una producción récord en 2016, habiendo producido 50.3 millones de onzas de plata y 935 mil de oro. El exitoso incremento de San Julián (fase I) fue la razón principal del aumento de 7 por ciento en la producción anual de plata, aunque los mayores grados de plata en Ciénega y Fresnillo también contribuyeron al aumento de la producción”, destacó el CEO.

Endeavour Silver Provides Production and Cost Guidance for 2017

Bradford Cooke, Endeavour CEO, commented, “We expect 2017 to be a transformative year for Endeavour as our attention turns to growth. The emergence of our exciting new Terronera discovery and the acquisition of two attractive projects last year, El Compas and Parral, have positioned us for significant growth over the next three years which we think could coincide with rising precious metal prices. We believe now is the right time to invest for the future across our portfolio.”

Candente Gold Announces Purchase of Remaining 30% Interest in El Oro Project from Goldcorp Subsidiary

Candente Gold Corp. is pleased to report that it has entered into a Purchase and Sale Agreement pursuant to which it will acquire the remaining 30% interest in the El Oro Project in Mexico from Desarrollos Mineros San Luis, S.A. de C.V., a subsidiary of Goldcorp Inc. Upon closing of the acquisition of the Transferred Interest, the Company will hold 100% interest in the El Oro Project as it had previously earned a 70% interest in the El Oro Project from Goldcorp.

Alix Resources – Metallurgical Testing Commences on Lithium Enriched Clays and Trenching Results from Agua Fria at the Electra Project, Sonora, Mexico and Announces Flow Through Financing

Christopher Ecclestone the CEO of Alix Resources commented: “With this trenching, the imminent met work results and the upcoming drilling the potential of Agua Fria should start to become apparent. The trenching in particular has expanded the Company’s view of the size of the mineralization and has given us an enhanced target map for the drilling season”.

Fortuna Announces US$65 Million Bought Deal Financing

Fortuna Silver Mines Inc. announces that it has entered into an agreement with a syndicate of underwriters, co-led by Raymond James Ltd., BMO Capital Markets and Scotia Capital Inc., pursuant to which the Underwriters have agreed to buy on a bought deal basis, 10,325,000 common shares of the Company at a price of US$6.30 per Common Share, for total gross proceeds of approximately US$65.0 million. The Company has also granted to the Underwriters an over-allotment option to purchase up to 1,548,750 additional Common Shares. The Over-Allotment Option will be exercisable for a period of 30 days following closing of the Offering.

Firma’s GracePoint Mining Corp. announces completion of payments and confirmation of the Joint Venture with MX Gold Corp.

Firma Holdings Corp., through its subsidiary GracePoint Mining Corp., announces that, further to its news release dated October 25, 2016, MX Gold Corp. has paid all remaining installments, totaling $2.5 million USD, and has earned a 50% participating ownership interest and 45% net profit participating interest in the Magistral, Del Oro tailings project located in Mexico.

Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.

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Our company BYLSA DRILLING provides drilling services in a variety of environments, ranging from typical exploration sites to extreme topographic conditions, always with the highest quality and safety standards.