Month: September 2019

Magna Gold Corp. Enters Into Letter of Intent to Acquire San Judas Gold Project in Sonora, Mexico – Provides Corporate Update

Magna Gold Corp. is pleased to announce that it has entered into a binding letter of intent dated September 30, 2019, with Ricardo Estanislao Carranza Leon, Maria del Rosario Mendivil Bejarano and Ernesto Villaescusa Cordova, individuals resident in the Sonora State of Mexico, for the assignment of the option of a 100% undivided interest of two mining claims located in the municipality of Trincheras, Sonora, Mexico, for a five-year period. The Project consists of two contiguous claims covering an aggregate area of approximately 2,806 hectares located approximately 240 kilometers north-west along the Federal Highway 16 from the state capital, Hermosillo.

Fortuna Silver Terminates Pachuca SE Option Agreement

Prospero Silver Corp announces that Fortuna Silver Mines Inc has terminated the property option agreement for the Pachuca SE project which was signed in January, 2019. Fortuna has not earned an interest in the Pachuca SE property.

Sable Resources Ltd. announces closing of royalty purchase agreement with Osisko Gold Royalties

Sable Resources Ltd. announces that as previously described in its press release dated August 28, 2019, it has entered into a definitive royalty purchase agreement with its wholly-owned Mexican subsidiaries and Osisko Gold Royalties Ltd. The initial closing under the Royalty Purchase Agreement has occurred and Sable has received proceeds in the amount of $5.0 million. Pursuant to the completed initial royalty transaction, as guaranteed by Sable, Exploraciones Sable, S de R.L. de C.V. has granted Osisko a 1% net smelter returns royalty on its properties. Under the terms of the Royalty Purchase Agreement, for no additional consideration, the NSR will extend to any additional properties acquired by Sable within a period of four years from the closing.

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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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.