Silver Spruce Closes Financing
August 30, 2019
Silver Spruce Resources Inc. is pleased to announce the closing of its financing. The Company has issued 5,225,000 units at $0.05 per unit for gross proceeds of $261,250.
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Silver Spruce Resources Inc. is pleased to announce the closing of its financing. The Company has issued 5,225,000 units at $0.05 per unit for gross proceeds of $261,250.
“Our second quarter operating and financial results continued our positive trend of the past three quarters.” stated Arturo Préstamo, Chief Executive Officer of Santacruz. “At Rosario we have turned the corner and are generating positive cash flow from operations while at Veta Grande we reduced the operating loss despite a mechanical problem with one of the ball mills. With the ball mill now back online in Q3 we expect continued improvement at Veta Grande and with overall operations.”
We are currently contemplating acquiring several projects that logistically create an advantage, some of them more advanced then others but with high grade gold drilling results. As we mentioned previously, we are only interested in a top quality, progressive operation, generating a positive impact for shareholders as well as in the local communities in which we will operate.
New Gold intends to use the proceeds to enhance financial flexibility, strengthen the balance sheet, including debt repayment, and general corporate purposes.
Minera Alamos Inc. announces that it has acquired 9,450,000 common shares in the capital of Prime Mining Corp. at a deemed price of $0.30 per common share as consideration for the assignment of an option agreement to which the Corporation is a party.
Santacruz Silver Mining Ltd. reports that it is today filing on www.SEDAR.com a technical report titled “Technical Report, Veta Grande Project, Zacatecas State, Mexico” dated effective August 20, 2019 containing an updated mineral resource estimate, under National Instrument 43-101 Standards of Disclosure for Mineral Projects. The Technical Report supersedes all previous technical reports prepared for the Company relating to the Veta Grande Project.
Kootenay President and CEO James McDonald states, “We are happy to see good high grade now over a wide range of strike and depth along the F Vein.Just as exciting are the high grades we are seeing in previously unknown hanging-wall veins with assays up to 1,070 gpt silver. The consistency of the known veins tested to date and the newly discovered hanging-wall veins certainly increases our confidence in the resource potential of the project”.
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