Sable Announces C$5 Million Private Placement
August 13, 2020
The proceeds from the sale of Units will be used by the Company for exploration and general corporate and working capital purposes.
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The proceeds from the sale of Units will be used by the Company for exploration and general corporate and working capital purposes.
Kootenay President & CEO, James McDonald, stated “This area of the J and Z Vein has become very exciting and prospective following this second considerable intercept of high silver grades. Finding silver hosted in breccias and stock works in this area indicates the potential to discover large mineralized zones along shorter strike lengths than typically seen in the veins themselves.”
N. Eric Fier, CPG, P.Eng, and CEO, remarked, “After a few months shutdown due to COVID-19, we restarted in late May with 8 drills focusing on in-fill and expansion of high-grade mineralization on the Babi Vista Vein. Drill results to date have been better than expected with 25 holes out of 124 holes showing grades greater than 2,500 gpt AgEq with good continuity.”
Pursuant to the terms of the Option Agreement, Gray Rock was granted the exclusive right to acquire an 100% interest in the Ana Maria and El Laberinto properties in Mexico in consideration of the issuance to Avino of share purchase warrants to acquire 300,000 common shares of Gray Rock at an exercise price of $0.20 per share for a period of 36 months from the date of the TSX Venture Exchange’s final acceptance of the Option Agreement.
It is anticipated that upon the completion of the Arrangement Paddy Nicol and John Thompson will resign as directors to facilitate the appointment of nominees of Renaissance. Furthermore, the Company will change its name to Orogen Royalties Inc. Paddy Nicol will remain as President and CEO of Orogen.
The Company continues to adjust to the unprecedented COVID-19 conditions. At Las Chispas, the Company installed a fully confined temporary camp with a capacity for 160 essential persons to continue its exploration, underground development, and construction of early works with the objective of limiting potential exposure of personnel and nearby communities to the virus.
“We continue to work carefully at the Juanicipio Project, respecting social distancing and maintaining very high levels of hygiene” said George Paspalas, President and CEO.
Silver Tiger CEO, Glenn Jessome states, “These underground channel samples in the Fundadora, Protectora, Caleigh and Aquilas Norte veins confirm high grade silver values across kilometers of strike length in these vein extensions North of the historic El Tigre Mine. We look forward to beginning drilling on all of these veins at the end of August.”
Ron Goguen, Colibri’s President & CEO states “We are excited to be completing this survey and obtaining this data. It is anticipated that recently mapped and sampled structures will have a magnetic signature which we can follow along strike and under the cover of alluvium and colluvium.”
La minera Fresnillo PLC realiza pruebas rápidas para detectar COVID-19 a los habitantes de algunas colonias y comunidades de El Mineral.
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