Kootenay Silver Inc. is pleased to report additional leach testing of oxide and sulfide silver mineralization has begun on bulk samples from the Company’s La Cigarra silver deposit in Chihuahua State, Mexico, applying the proprietary SILVOX Technologies Inc. process.
The net proceeds of the Offering will be used to fund the purchase of a mining concession in San Juan del Río Durango, consisting of 420 hectares covering known projections of the El Castillo mineralization and for general corporate purposes.
SOURCE EXPLORATION CORP. is pleased to announce the appointment of Mr. Brian Robertson, P.Eng., as Chairman, effective immediately. Mr. Robertson currently serves as President & CEO of the company and is also a Director.
“Although Primero faced significant challenges in 2016, we entered 2017 with renewed motivation to address these challenges and deliver meaningful returns to our shareholders,” said Mr. Joseph F. Conway, Interim President and Chief Executive Officer. “We have started by strengthening our management team in late 2016, reducing our corporate G&A and refinancing our revolving credit facility, terming out our debt to better match our asset’s cash flow profile. Our next focus is resetting the San Dimas operation and bringing the mine back to profitability so it can once again deliver on its world-class potential. We have also renewed our commitment to exploration at both of our mines in order to continue growing their reserve and resource base and fully realize on their significant mineral endowments.”
VVC Exploration Corporation continues to cooperate with local, state and national officials as it pursues the objective of starting a copper oxide pilot mine on the Kaity Claim of Samalayuca de Cobre (Samalayuca Copper Project). VVC is confident that the Samalayuca Project can play a part in a national, state and municipal strategy aimed at promoting economic and social policies that respond to the needs and aspirations of the people in the Samalayuca area. Mining in the state of Chihuahua, Mexico is very dynamic and the company is proud to be a part of that dynamism and its contribution to the State’s economy. VVC is committed to supporting the economic progress of the region through the continued development of the Samalayuca Copper Project and doing so in an environmentally friendly and socially responsible manner.
Riverside Resources Inc. is pleased to announce that its previously announced private placement of up to 5,500,000 units at $0.55 per unit has been oversubscribed. The Company has now closed subscriptions at 6,257,367 units for total proceeds of $3,441,552, an oversubscription of 757,367 units and $416,552.
Mark Gordon, Odyssey CEO, “Our onshore team has been hard at work developing plans to begin generating revenue from the Don Diego phosphate deposit as soon as possible after the environmental approval is obtained. Although we have been disappointed by the results of the administrative process for environmental approval at SEMARNAT, it was a necessary step in our multi-pronged strategy to achieve ultimate approval of the project. We have augmented the approval process with a legal mechanism that has strict deadlines and is normally completed within 8 months,” Gordon continued. “We remain confident in the extensive scientific documentation that demonstrates the offshore extraction of phosphate can be accomplished without harming the local environment, fishing and tourist activities, and we continue to believe in the ultimate approval of the project.
Commenting on the Companys performance, Chief Executive Officer, Greg McCunn, said, 2016 was a solid year for the San Francisco mine, which generated sufficient cash flow to fund our work program at Ana Paula and solidify the balance sheet. We are investigating operational improvements to San Francisco which we expect to publish in a new life-of-mine plan in Q2. Mine performance in early 2017 continues to track above the existing life-of-mine plan and we are confident that guidance of 20,000 ounces produced for Q1 2017 and 70,000 to 75,000 ounces for the year will be achieved.
Managing Director Will Dix commented: Drilling to the south of our modelled mineralisation continues to support the Companys view that significant base metal resources exist down dip and down plunge of the mine development. In addition, the recent identification of underground mineralisation at Tres Amigos North and Carola South provides encouragement that Consolidated Zinc will be able to add significant tonnes to the current Mineral Resource. Whilst our focus remains on moving the scoping study forward we will continue to pursue these areas and other targets to build our resource base. As well as this we will look at regional targets and aggressively pursue other opportunities as they are identified, be they within the current mine infrastructure or in new areas.
Galore Resources Inc. is very pleased to announce the appointment of Kenneth Coe of Vancouver, B.C. to its board of directors.
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