Day: October 19, 2017

Environmental Approval for Sonora Lithium Project, Mexico and Update

Bacanora CEO Peter Secker said, “Government approval for the Environmental Impact Statement is the latest key requirement that is now in place at Sonora. One-by-one we are ticking off our checklist ahead of our goal of developing Sonora into a world class lithium operation. Our work to date has already established Sonora as a large and scalable project; while our pilot plant at Sonora has been producing battery grade lithium carbonate on a continuous basis for the past eighteen months. This has served to prove the detailed flow sheet and metallurgical process that will be deployed at the Project, and has also helped to secure Hanwa as both a strategic and off-take partner for up to 100% of production.”

Excellon Announces $10 Million Bought Deal Financing

Excellon Resources Inc. is pleased to announce that it has entered into an agreement with Cantor Fitzgerald Canada Corporation as sole bookrunner and together with PI Financial Corp. as co-lead underwriter, on its own behalf and on behalf of a syndicate of underwriters, pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 5,000,000 units of the Company at a price of $2.00 per Unit for gross proceeds to the Company of approximately $10 million. Each Unit will consist of one common share in the capital of the Company and one-half of one common share purchase warrant. Each Warrant shall entitle the holder to acquire an additional Common Share at a price of $2.80 at any time on or before December 31, 2018.

Alio Gold Receives C$3.5 Million From Warrant Exercise And Buys Back 1% Ana Paula Royalty

“As we continue to advance the high grade, high margin Ana Paula project, the buy back of the 1% NSR is immediately accretive to the project and will deliver significant value to our shareholders over the long term,” said Greg McCunn, Chief Executive Officer. “We are advancing the Definitive Feasibility Study for the Project towards completion in Q2 2018 when we expect to make an investment decision to start construction. In parallel, we have initiated an exciting US$18 million exploration program at Ana Paula to investigate the extension of high-grade mineralization below the proposed open pit. Positive exploration results are expected to enhance already robust project economics, and it therefore made sense for us to exercise our buy-back right on the 1% NSR now. We would like to thank Goldcorp for their continued support of the Company through the exercise of the warrants.”

SilverCrest Expands Babicanora High-Grade Footprint to 600 metres; New High-Grade Vein Discoveries Highlight District Scale Potential

N. Eric Fier, CPG, P.Eng, President and CEO, remarked, “Our continued step-out drilling along the strike of the Babicanora Vein has added another 100 metres to the previously announced high-grade footprint. Our first holes in the Granaditas and Amatista veins, which intersected high-grade mineralization, continue to show further untested potential in the district. Drilling in all nine veins drilled to date has intercepted areas of high-grade mineralization that warrant further drilling to better define continuity and volume. Our Phase II exploration program at Las Chispas continues with six drills actively working from the surface and underground. The objective of this program is to drill-test the Babicanora Vein over 1.5 kilometres of its known 3.2 kilometres strike length. With our continued success, we are aiming to further expand high-grade mineralization along multiple veins in both the Las Chispas and Babicanora areas in preparation for a maiden resource in early 2018.”

Piden resolver con apego a la ley, conflicto de mina de Cananea

El senador Luis Sánchez Jiménez solicitó a la Secretaría del Trabajo y Previsión Social asumir la defensa de los derechos de los trabajadores mineros que demandan el pago del 5% de las acciones de la Compañía Minera de Cananea, comprometidos en el Convenio firmado desde el 20 de agosto de 1990.

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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.