Bob Willis, CEO and director, stated, “This is a very exciting time for all San Marco shareholders as we are now fully financed for a 10,000m drill program scheduled to start very shortly. We welcome our new strong institutional investor base and are looking forward to expand on the excellent results to date at the Buck Property.”
Mr. Eric Sprott commented, “Discovery provides unmatched leverage to a rising silver price and I am very encouraged to see the Discovery team continue to execute on their plans at the Cordero project. I have continually grown my position in the Company and it is now one of my largest investments in the silver space.”
The Phase 1 exploration program has been designed to refine targeting at Cerro Magallanes which is a large rhyolite flow dome complex, host of several historic workings and multiple high-grade gold mineral occurrences. Additionally, the program will focus on expanding knowledge on the sedimentary hosted mineralized targets, including to-date a total of five gold-mineralized areas.
GR Silver Mining President and CEO, Marcio Fonseca, commented, “The Company has prioritized the validation of the drill holes at the San Juan-La Colorada Area, focusing on expansion of mineralization along strike and down-dip. These latest results confirm high-grade mineralization extending to the S towards the San Francisco Area, suggesting potential to outline a large low sulphidation epithermal system with at least a 1000 m strike length”.
Evrim will transfer a 100% interest in the La Lola and Cumaro properties in exchange for a respective 2% NSR and 1% NSR on any future production.
Transformative acquisition of Sun Minerals Pty Ltd completed. Experienced mining and exploration developers, John Skeet and Hall Stewart appointed. Capital raising successfully completed for $5.92M (before costs) to fully fund the maiden drilling program at the flagship Copalquin Gold Silver Project.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “After we identified a 3200 plus metre continuous chargeability anomaly with an IP geophysical survey, we drilled 3 holes into the southern end of the anomaly where it is the shallowest. Out there we hit stacked layers of disseminated sulphides. Now we are stepping back approximately 3000 metres to the north end of the anomaly.”
The Company intends to use the net proceeds of the Offering for the exploration of its San Jose Project and for general corporate and working capital purposes.
“Upon completion of the financing, we intend to immediately commence the deeper drill program, as the requisite permits are in place and both our technical team and the drill crews are based in Hermosillo and do not require any cross-border travel,” said Kenneth MacLeod, President and CEO of Sonoro.
Almaden intends to use the net proceeds of the Offering for permitting activities relating to the Ixtaca project, and for general corporate purposes.
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