Orex’s President, Gary Cope said “We are very pleased that we have finalized this new joint venture arrangement, which allows Orex and Pan American to continue the advancement of the Sandra-Escobar project, previously initiated in our joint venture with Canasil Resources Inc.”.
As a result of local government restrictions related to the COVID-19 pandemic, the Company has temporarily suspended mining activities for 15 days at the RDM Mine in Minas Gerais State, Brazil.
Evrim Resources Corp. announces that it has terminated the option agreement with Harvest Gold Corporation on the Cerro Cascaron project in southwestern Chihuahua, Mexico. Evrim and Harvest Gold Corporation completed two seasons of exploration and ten diamond drill holes at Cerro Cascaron. Drilling results included 20.10 grams per tonne gold and 22.5 g/t silver over one metre in drill hole SPT18-01 at the Serpiente Dorada prospect, and 5.39 g/t gold and 23.7 g/t silver over 0.35 metres in SPED19-02 at the San Pedro prospect. These results and extensive areas of gold-silver showings at lower elevations have not been followed up or tested by drilling.
Igor Gonzales, President, and CEO of Sierra Metals, commented, “A smaller workforce will be maintained to oversee critical aspects of the operation, with the primary goal of facilitating a quick and efficient ramp up back to normal levels once the regional situation improves and state of emergency is lifted. Our team continues to be focused on the health and safety of our workforce. The Company also expects the government processes related to permitting applications to be deferred during this state of emergency.”
Freeport-McMoRan Inc. announced today that the Peruvian Government has extended the declaration of a National Emergency to April 12, 2020, associated with the Peruvian government’s efforts to contain the outbreak of COVID-19.
Orla Mining Ltd. announced today that it has entered into an agreement with a syndicate of underwriters led by Stifel Nicolaus Canada Inc. pursuant to which the Underwriters will purchase, on a bought deal basis, 36,600,000 common shares of the Company at a price of C$2.05 per Common Share for aggregate gross proceeds to the Company of C$75,030,000.
“The current COVID-19 pandemic has presented the global community with some immediate and unprecedented challenges,” reports Robert Eadie, CEO and president of the company.
The Company has returned $113 million to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
McEwen Mining Inc. reports that in order to protect the health of our workforce, their families, and the nearby communities from the spread of COVID-19, both the Black Fox and Gold Bar mines will scale down operations beginning today for a period of 14 days.
“At San Jose, upgrading through infill drilling proved more challenging, as mining is transitioning from the central Stockwork zone to the Trinidad North area where mineralization tends to be narrower and more variable in nature. As the mineralization style changes, the operation is implementing various initiatives, such as pillar recovery and narrow vein mining methods, to optimize mineral extraction.”
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