The Company has also finalized initial plans for the Phase 3 drill program which will commence shortly following the resumption of post-covid mining activities in Mexico. Current plans call for an additional 20-25 holes at Nicho totaling approximately 4000m as well as the Company’s first drill holes at the Zata and Gold Ridge targets in addition to the recently identified Bufita target.
The initial exploration program will consist of a team of 4 geologists and technicians completing reconnaissance prospecting and geological mapping.
Greg Crowe, President and CEO commented: “The most intriguing aspect about Cherokee is the increasing number of new mineralized discoveries along with our evolving understanding of the various styles of mineralization hosted within the property. Every field season yields additional targets and continues expanding the upside potential of this already robust silver-gold-copper prospect.”
Aztec CEO, President and Chief Geologist Joey Wilkins commented, “Aztec and Kootenay plan to review shortly the first exploration program needed to target both the near-surface oxide gold mineralization as well as the deeper sulfide porphyry gold-copper potential at California. We have also received expressions of interest from major companies about the possibility of earning into the Cervantes joint venture and will consider the merits of any offers.”
While exploration and mining in Mexico have been hampered by suspensions and slowdowns of operations due to the COVID-19 pandemic, the country will get through this challenge and gradually resume normal operations.
The president then urged Canada’s ambassador to prevail on the companies that there was no need to seek legal redress because “it’s very clear that they have these debts with the tax authority, and that (Canada) help us to convince them.”
Silver Viper Minerals Corp. is pleased to announce that, following a nine week pause in operations, the exploration camp at La Virginia has re-opened and drilling activities are now underway. With close support from Globexplore Drilling, facilities at the exploration camp have been upgraded with enhanced health and safety protocols including monitoring and reporting systems.
Taj Singh, President and CEO of Discovery commented, “With the closing of the financing we now have over $40 million of cash on our balance sheet, putting us in a strong position as we restart our exploration activities at Cordero. We look forward to safely resuming operations later this month and carrying on with the positive momentum we have generated from our excellent exploration results to date.”
“The commencement of the environmental baseline study at Las Minas, as well as drilling, marks the re-start of our much anticipated 2020 program,” stated Philip O’Neill, Chief Executive Officer. “With the start of resource expansion and exploration drilling in early July, we will be well on our way towards achieving a PEA at Las Minas.”
The Company intends to use the proceeds from the Private Placement for exploration of the Alamos Silver Project and general working capital purposes. All securities issued and issuable under the Private Placement are subject to a four-month hold period from the date of closing of the Private Placement, in addition to any other restrictions under applicable law.
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