Month: August 2019

Argonaut Gold Extends El Castillo Mine Life with Zero-Cost Collar Gold Price Protection Program

Pete Dougherty, President and CEO stated: ”By initiating a zero-cost collar gold price protection program on a portion of El Castillo’s estimated remaining life-of-mine production, we ensure profitability and are able to extend the mine life at our highest cost operation. Through either exploration success or a higher gold price, there may be potential to continue to extend the life of the El Castillo mine beyond mid-2022. With a strong portfolio of development assets, we felt prudent to lock in cash flow certainty at the El Castillo mine to help fund our development projects while also continuing to maintain exposure to an increasing gold price for our shareholders. This is an opportunity to ensure cash flow at an attractive price protection point. When looking at the total amount of Argonaut’s mineral resource base, this zero-cost collar program represents a very small percentage of total gold ounces.”

IMPACT Silver Announces Results of Successful Dense Media Separation (DMS) Study at Capire VMS Production Center

Fred Davidson, President & CEO of IMPACT stated, “We are encouraged by the results of this successful coarse gravity separation test work and with additional testing we will assess how the introduction of a DMS preconcentration process module may impact the economics to the point of turning a profit from operations. We are continuously working on reducing production costs and the application of innovative technologies have the potential to impart a significant positive impact on the cost structure of our operations. Combined with this positive news and improving sentiments in overall markets for precious metals in recent months — Capire now represents a realistic near term expansion production site for IMPACT.”

Golden Minerals Receives Continued Listing Standard Notice From NYSE American

Golden Minerals Company today announced that on August 19, 2019, the Company was notified by the NYSE American LLC that it was not in compliance with one of NYSE American’s continued listing standards as set forth in Part 10 of the NYSE American Company Guide. Specifically, the Company is not in compliance with Section 1003(a)(iii) of the Company Guide since it reported stockholders’ equity of less than $6.0 million as of June 30, 2019 and losses from continuing operations and/or net losses in its five most recent fiscal years.

Millrock Announces Extension Granted To Private Placement

Millrock Resources Inc. announces the TSX Venture Exchange has granted Millrock an extension to the deadline to file final materials in respect of the private placement financing announced on July 10, 2019.  The Company must complete the filing by September 25, 2019.

Kootenay Closes Strategic Investment by Eric Sprott for Proceeds of $5 Million

Net proceeds of the Private Placement will be used to advance exploration of the Columba Silver Project in Chihuahua State, Mexico, potentially adding a further drill rig to expedite the current drill program, and to fund further work at Copalito, La Cigarra and other projects as well as for general working capital purposes.

Megastar Samples 308g Silver and 1.07g Gold Along 530-Meter Vein System at Yautepec

David M. Jones, exploration manager and director of Megastar, says: “Our second round of sampling at Yautepec has not only confirmed our first round of results but surpassed them, yielding silver values up to 308 grams and gold values to 1.07 grams in an historically undocumented quartz vein system of impressive length with structural widths up to 7 meters, based on surface mapping to date. In tandem with the adjacent mineralized hot springs complex (sinter), we have generated a series of high priority drill targets after only two periods of fieldwork. This is a remarkable accomplishment for our small and highly motivated team, all of whom have had significant exploration discoveries in their careers.

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.

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