The proceeds of the private placement will be added to working capital. The sole subscriber to the private placement is Salvador Garcia, a director of the Company and Starcores Chief Operating Officer.
We have made good progress on the exploration program in the first two months of the year said Greg McCunn, CEO of Alio. The discovery of two new breccia targets outcropping at surface and within close proximity to the existing Mineral Resource is an exciting development and shows the potential of our 56,000 hectare land package. The surface drilling to test the known extension of the breccia below the proposed pit is designed to allow us to more fully understand the nature and extent of the mineralization ahead of drilling from underground. With the decline construction now fully underway, we expect to be in a position to start drilling from underground in Q3 2018.
Arturo Prestamo, President and CEO of Santacruz commented “The Loan proceeds will be used to reduce our current trade payables balance which together with the recent Carrizal services agreement will assist to improve our mining operations at both Veta Grande and Rosario. Management views this as another important step in the development of the Company.”
Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.
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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The promotion and dissemination as essential elements to understand and disseminate our Mineral resources, that is why today it is pleased to make the document “Mining Panorama” available to society, by state.
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The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.
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