Matthew O’Kane, Managing Director of Comet Resources, commented “We had a busy Quarter, with exploration programs being advanced at the Barraba and Santa Teresa Projects, as well as acquiring some very prospective new copper-gold projects in the Northern Territory and completing a financing with strategic investors.
The proceeds of the Placement will be used to fund continued drill programs on the Company’s silver-gold exploration projects in Durango and Zacatecas States, Mexico, and for working capital.
“Q1 2021 operating cash flow of $95 million was the strongest in our fifteen-year history as a producer. Excellent operating performance and cost containment in a higher copper price environment surpassed our expectations,” said Darren Pylot, President and CEO of Capstone.
The funds will be used towards the development of the Camino Rojo Oxide Gold Project located in Zacatecas State, Mexico.
The Offering was led by Beacon Securities Limited as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters including Echelon Wealth Partners Inc.
Drilling in the Mina La Bocona target area continues to extend the two polymetallic sulphide zones and the near surface gold-enriched mineralization identified earlier in the 2020-21 drilling. Mineralization can now be traced laterally for over 150 metres strike and up to 450 metres depth and drilling between the two main high-grade lenses has returned positive assays resulting in increased continuity between the two lenses.
Ridgestone Mining Inc. is pleased to announce the engagement of Marc Jutras of Ginto Consulting Inc. to prepare an independent National Instrument 43-101 mineral resource estimate for the Guadalupe y Calvo gold-silver project in Mexico.
New results include AMDD21-31 which intersected 13m at 0.9 g/t gold and 116 g/t silver. A new drill permit has recently been granted to test targets at California and El Cuervo. Geological teams are continuing detailed mapping and have recently extended the El Cuervo veins and breccias by 1km and the California vein system by 500m. Drilling of these targets is expected to commence in the second half of the year.
Carlyle’s President and CEO, Morgan Good, commented, “Carlyle is excited to yet again receive positive drill results from the Cecilia Phase 1 campaign. In particular, hole 6 returning high-grade gold with its intercept into the North Breccia target further confirms the presence of something potentially very exciting. We are more confident by the day that a subsequent Phase 2 drill campaign is warranted and optimistic that the results, especially drill testing to depth, will prove successful and continue to provide added value to all shareholders.”
Riverside’s President and CEO, John-Mark Staude: “We are pleased to see this program progress with Carlyle Commodities Corp. where we are shareholders and delighted to see the exploration program return higher grade gold. These new results continue to build upon the historical work by Cambior and others, combined with the current 2021 drill campaign which is beginning to show new target ideas, new gold mineralization controls, and widening the perspective for discoveries.”
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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.
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