“We’re extremely excited to begin this next chapter in Energold’s history,” announced Brian N. Mittman, the new CEO of Energold. “With the CCAA filing behind us, we look forward to continuing to provide world-class drilling services and to a future of steady, profitable growth.”
On March 31, 2020, the Government of Mexico announced extraordinary measures in response to the spread of COVID-19, which includes the suspension of all non-essential activities, including mining, until April 30, 2020. As a result, the Company has initiated the orderly temporary suspension of mining and processing activities. A reduced task force will remain on site to safeguard critical infrastructure and maintain environmental monitoring through the suspension period.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “Drill hole 13 has been a significant breakthrough for the company. In addition to high-grade zinc, we have now identified a new geological unit, a black slate, that we hit for the first time. The black slate unit contains the most sulphides discovered to date in the drilling at Tabasquena.”
“We are very pleased with these results and the major increase in potential open pit material”, said Prime COO Gregory K. Liller. “The successful Prime sampling program, started in September 2019, allowed us to evaluate the tonnage and grade in areas between the unsampled outcrop and the drilled subsurface. The sampling program confirmed our belief that the mineralized zones are substantially wider than previously modeled. We believe our planned 2020 exploration program will build on this success with emphasis on three target efforts: 1) down dip and along strike in the pit areas; 2) between pits to connect them together; and, 3) the remaining 60% of Los Reyes’s undrilled structures where outcrop grab samples are similar to sample results in the Updated Resource.”
Thomas A. Doyle, President, CEO stated: “We recognize the seriousness of the COVID-19 pandemic and we will continue to take precautionary measures. The health and safety of our workforce, their families and the communities in which we operate is paramount and we continue to be dedicated to maintaining a safe work environment.”
Torex Gold Resources Inc. announces that consistent with the COVID-19 related decree issued by the Government of Mexico for all non-essential businesses in the country to temporarily suspend operations, production at the Company’s El Limón Guajes mine will be suspended until April 30, 2020. Guidance is also suspended until further notice.
At the first closing, Guerrero issued 3,420,800 Subscription Receipts at an issue price of C$0.90 per Subscription Receipt for gross proceeds of approximately C$3.08 million. Guerrero expects to hold a second closing of the private placement in April in order to accommodate investors dealing with longer approval and processing periods due to the Covid-19 pandemic.
Pan American Silver Corp. announced today that Mexico’s Ministry of Health has issued an Executive Order for the immediate suspension of non-essential activities until April 30, 2020 in response to the COVID-19 pandemic. Following an initiative of reducing the number of people on site to increase physical distancing, Pan American will now expand this program in order to bring its La Colorada and Dolores operations into compliance with the Executive Order.
The Company is following World Health Organization protocols and local government rules and recommendations at all its projects and corporate offices. Office employees are working remotely wherever possible. Certain business restrictions have been implemented in Mexico, but currently the Company’s oxide mill at Velardeña (Durango State, Mexico) continues to operate normally as it processes ore for Hecla Mining Company’s San Sebastian mine per the terms of an existing agreement.
Golden Minerals President and Chief Executive Officer Warren M. Rehn remarked, “The Velardeña mines now present an attractive scenario for a potential restart. The most difficult challenge we previously faced at the Velardeña mines was the low payable gold recovery, a challenge which we believe is solved with the addition of a relatively low-cost bio-oxidation circuit at our existing processing facility.”
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