Day: July 23, 2019

Mexus’ Santa Elena heap leach returning values; Loan commitment paid off

Mexus Gold US is pleased to inform its shareholders that on July 18th the company satisfied a $105,000 loan commitment on time. In addition, the company announced that the 2500 ton leach pad at its Santa Elena mine is returning solution to the holding pond. Mexus has pumped 500 M3 of solution to the heap pad with 500 PPM NACN maintaining a Ph of 11.0 and a return flow of 350 M3 testing at 1.1 Au to start. It is expected to accumulate 5 to 7 oz. the first week with leaching continuing until the return solution stabilizes. Mexus will be adding new ore to the pad with the Merrill Crow gold recovery system running weekly to keep up with production.

Alio Gold Announces Notice of Arbitration

Alio Gold Inc. has received formal notice from Maverix Metals Inc., a 3.25% royalty holder over the Company’s Florida Canyon property, seeking arbitration to resolve disputed allowable deductions in the royalty calculations. The Company has been in discussions with Maverix since acquiring the Florida Canyon property in May 2018. The arbitration notice states that the dollar amount of the claim is still being calculated but the disputed amount based on past production is approximately $1,000,000. The Company intends to vigorously defend its interests and the interests of its stakeholders. The Company remains confident that the historical calculation of the royalty, which has not changed since the inception of the royalty in 2013, is correct and that the Company’s position is strong.

Defiance Announces New Director

Defiance Silver Corp. is pleased to announce the appointment of Mr. James Bergin to its Board of Directors replacing Peter Hawley.

Magellan Gold Names Frank A. Pastorino Chief Operating Officer

Magellan Gold Corporation is pleased to announce the immediate appointment of Frank A. Pastorino as Chief Operating Officer, further strengthening Magellan’s senior management team. The Company announced David Drips as President & CEO on June 19, 2019.

SilverCrest Announces C$22 Million Bought Deal Financing; SSR Mining To Exercise Its Right to Maintain Its Pro Rata Interest of 9.9%

SilverCrest Metals Inc. is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc. and Desjardins Capital Markets, pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 3,762,000 common shares of the Company at a price of C$5.85 per Share for aggregate gross proceeds to the Company of C$22.0 million.

Discovery Announces Regulatory Approval To Complete Proposed Plan Of Arrangement

Discovery Metals Corp. announces it has received conditional approval from the TSX Venture Exchange to complete the proposed plan of arrangement transaction with Levon Resources Ltd. as described in Discovery’s news release dated May 30, 2019, subject to standard closing conditions. Levon has also received conditional approval of the Toronto Stock Exchange in connection with the proposed transaction.

Evrim announces exploration results from Sarape project, Mexico

Evrim Resources Corp. announces drill results from the 2019 maiden drilling program at the Sarape project in Sonora, Mexico. At the completion of the program, the Company’s exploration partner, a subsidiary of Coeur Mining, Inc. relinquished their option on the project.

Avino Announces Results From Hanging-wall Breccia Sampling Campaign

‘The drill results from this sampling campaign are encouraging and indicate that our team in Mexico has once again successfully met the challenge to find higher grades and thick veins, both as replacement for the closure of San Gonzalo and potentially improve margins before the end of this year’, said David Wolfin, President and CEO.

Oretest is a mining exploration drilling contractor based in Mazatlán, Sinaloa, México. The company is managed by Bart Forsyth, with 36 years of extensive drilling experience on most continents with major companies. The company takes great pride in providing high-quality services while making safety a priority. Maintenance, cleanliness, precision and proper drilling habits makes a good safety environment and produces results.

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.