Month: January 2020

Millrock Announces Private Placement Financing

Millrock Resources Inc. announces that it plans to raise gross proceeds of $1,000,000 through a non-brokered private placement of 8,333,333 units at a price of $0.12 per Unit.

Endeavour Silver Provides 2020 Production and Cost Guidance, Forecasting 3.0 – 3.5 Million Oz Silver and 38,000 – 44,000 Oz Gold, or 6.0 – 7.0 Million Oz Silver Equivalent

Bradford Cooke, Endeavour CEO, commented, “We are forecasting better performance from our operating mines in 2020, with a slight decrease in consolidated production due to the suspension of mining at El Cubo complimented by lower operating costs at Guanacevi, Bolanitos and El Compas, which should decline through the year as productivity improves.”

Southern Silver Retains Red Cloud Financial Services Inc. as Capital Markets Advisor

Red Cloud is a “new concept” capital markets advisory firm dedicated to the mining sector. It uses its global network of capital markets specialists and extensive experience in the many facets of the business to help companies identify alternative sources of capital and quality actionable growth/divestiture opportunities, and to generate and maintain important relationships with key investors.

High-Grade Gold System Identified at Plomosas

First pass rock chip results of outcrops and old workings returned exciting results with grades up to 61.0g/t Au, 27.5g/t Au and 7.42g/t Au, with the highlights presented in Table 1 below. Refer to Table 2 for the results of rock-chip samples.

Minaurum Acquires High-Grade Aurifero Gold Project

“We are pleased to add this high-grade project to our portfolio,” stated Darrell Rader, President and CEO of Minaurum Gold. “Historical data shows that the project has never been drilled deeper than 135 m and some of the deepest holes stopped in mineralization. Our due diligence found evidence that past exploration and current mining targeted only the highest levels of a substantial epithermal gold and silver system. We will permit and drill several deep holes in 2020 to test our geological model.”

Endeavour Silver Updates 2019 Mineral Reserve and Resource Estimates

Bradford Cooke, CEO of Endeavour, stated, “Our exploration programs were successful last year in outlining new brownfields discoveries at three of our mines and projects in Mexico. We expanded the measured and indicated resources at Guanacevi and Parral and increased inferred resources at Guanacevi, Bolanitos and Parral. Our reserves declined at Guanacevi but increased at Bolanitos and El Compas.”

Fresnillo Plc – Fourth Quarter Production Report for the Three Months Ended 31 December 2019

Octavio Alvídrez, Chief Executive Officer, said: “Silver and gold production is up on the previous quarter as we begin to see the impact of our performance improvement plan, which includes intensive infill drilling to improve the certainty of the geological model, dilution control and raising development rates, together with actions to address contractor productivity and equipment availability. Full year silver and gold production is in line with our updated guidance.”

Mexican Gold to Complete Business Combination With New Found Gold; Intersects 92.86 g/t Gold Over 19.0 Metres at Queensway Gold Project In Newfoundland

Philip O’Neill, CEO of Mexican Gold, stated, “New Found Gold’s maiden drill results are encouraging. The Queensway Gold Project demonstrates the potential for a significant near-surface discovery in a friendly, easily accessible mining jurisdiction. The resulting company will be very well capitalized to further explore and undertake multiple drill campaigns on the Queensway Project. We will also be well funded to further advance our Las Minas project in Veracruz, Mexico.”

Santacruz Silver Reports 2019 Annual Production of 2,829,459 Silver Equivalent Ounces

Carlos Silva, Santacruz’s COO, stated, “Santacruz had a record year in 2019 producing 2.8 million silver equivalent ounces following the successful acquisition and integration of Carrizal Mining. In addition to this transformative event, the Veta Grande and Rosario mines increased their annual production substantially, while at the same time maintaining significant development activities and advancing exploration plans as a pathway to keep improving our production at all mines and expanding mine resources.”

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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.