Leagold entered a binding sale and purchase agreement with Goldcorp Inc. dated January 11, 2017 to acquire the Los Filos Gold Mine for $350 million through the purchase of Goldcorps Desarrollos Mineros San Luis S.A. de C.V. subsidiary. The purchase price is made up of $279 million in cash and $71 million in common shares of Leagold. For further details of the Acquisition, see the Companys news release of January 12, 2017.
Canasil Resources Inc. announces that the Company has received assay results for the first drill hole, ES-16-12, of the 2016-17 core drilling program at the La Esperanza silver-lead-zinc project in Durango and Zacatecas States, Mexico. This drill hole intersected an extended interval of banded quartz veins, veinlets and breccias hosted within fractured and brecciated volcanic rocks from 345 metres to 391 metres down-hole. The interval returned assay results indicating several narrower zones carrying anomalous gold and copper, low silver and appreciable lead and zinc values. The widest zone at the bottom of the hole returned an intercept of 3.57 metres (true width 3.08 metres) grading 0.14 g/t Au, 21 g/t Ag, 0.82% Pb and 2.63% Zinc. The principal mineralized intervals are reported in the table below:
Alamos Gold Inc. today announced that it has closed its previously announced bought deal offering at a price of US$7.95 per common share. A total of 31,450,000 common shares were sold in the offering for gross proceeds of US$250 million.
Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased to be drilling and exploring with Antofagasta as a partner in Sonora, Mexico. The drill program at Thor has delivered a positive proof of concept with the discovery of extensive porphyry style veining in the drilled target areas. The project will now be progressed with further targeting work on both the upper and lower plates in an attempt to vector in on a potential copper porphyry discovery.”
Fortuna Silver Mines Inc. is pleased to announce that it has completed its previously announced bought deal financing and has issued 11,873,750 common shares, including 1,548,750 common shares that were issued upon the full exercise of the over-allotment option, at US$6.30 per Offered Share for gross proceeds to the Company of US$74,804,625. The Offering was conducted by a syndicate of underwriters co-led by Raymond James Ltd., BMO Nesbitt Burns Inc. and Scotia Capital Inc., and including CIBC World Markets Inc. and National Bank Financial Inc. The net proceeds from the Offering will be used for general working capital purposes.
ALIX RESOURCES CORP. announces that further to its news releases dated February 3, 2017, January 31, 2017 and January 24, 2017, it has completed the first tranche of a non-brokered flow through private placement of 2,585,000 units at a price of $0.07 per unit for gross proceeds of $180,950. Each FT unit consists of one flow through common share and one half non-flow through Share purchase warrant of the Company. Each whole warrant will entitle the holder to acquire one Share of the Company at a price of $0.10 per Share for a period of 24 months from the date of issuance.
Managing Director Will Dix commented: The new intersections to the south of our modelled mineralisation continue to support the Companys view that significant base metal resources exist down dip and down plunge of the mine development. We will continue to pursue this area and other targets to build our resource base. In addition we will look at regional targets and aggressively pursue other opportunities as they are identified, be they within the current mine infrastructure or in new areas.
For 2017, planned exploration spending on new resource identification has almost doubled, to $14 – $17 million, compared to 2016. The majority of our exploration budget will be spent at our Palmarejo and Kensington operations and at our La Preciosa silver-gold project in Mexico. Our capitalized exploration budget targeting resource conversion is expected to increase by about 10% to $10 – $13 million, most of which is earmarked for Palmarejo and Kensington. We also plan to increase earlier-stage exploration spending by around 50% to $7 million, as we seek to enhance our pipeline of future, high-quality sources of silver and gold production in attractive jurisdictions,” Mitchell J. Krebs, Coeurs President and Chief Executive Officer.
“Our high-grade discovery at Naranjillo and the resulting Agreement with Fresnillo, the world’s largest silver producer, validates the Plata Latina exploration strategy of discovering hidden, high-grade silver-gold districts within the Mexican Silver Belt,” commented Plata Latina’s President and CEO, Mike Clarke. “We look forward to putting the proceeds from this Agreement towards the advancement of our three existing properties, particularly Vaquerias, which exhibits significant shallow discovery potential based on early testing and drilling. Further, the funding will enable us to look for additional opportunities in the prolific Mexican Silver Belt using our successful exploration strategy.”
Los diputados Santiago Domínguez Luna y María Elena Ortega Cortés, presentaron la iniciativa con punto de acuerdo, por la que se exhorta al gobernador a que establezca una mesa de trabajo y diálogo con autoridades federales, estatales y con la empresa minera denominada Panamerican Silver.
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
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