Company crews have now entered the El Pinguico shaft and have safely accessed the #6 adit level. We believe that this is the first time that the #6 level has been accessed in this location since the mine was closed in 1913.
CARLYLE COMMODITIES CORP. is pleased to announce that it is conducting a non-brokered private placement consisting of the issuance of up to 1,750,000 flow-through units at a price of $0.30 per Flow-Through-Unit for gross aggregate proceeds of up to $525,000.
The high-grade silver zone outcrops as the ridge capping on top of the Mesa de Plata hill. It contains Measured and Indicated Mineral Resources of 15.5Moz silver in 1.8Mt @ 275g/t Ag within the overall Mesa de Plata Mineral Resource of 27.4Moz silver in 10.5Mt @ 82g/t Ag.
The proceeds of this Offering will be used exclusively for generative exploration activities on McEwen’s properties in the Timmins region.
The Company intends to use the net proceeds of the Offering to advance construction of its 100%-owned Santana gold development project located in Sonora, Mexico; further exploration activities at its other 100%-owned development projects located in Mexico, and; general corporate purposes.
The Company intends to use the net proceeds from the Offering for exploration and general working capital purposes.
Concurrently with the completion of the Arrangement Evrim changed its name to “Orogen Royalties Inc.” Orogen will begin trading on the TSX Venture Exchange under the symbol “OGN” on August 20, 2020.
Greg Crowe, President and CEO commented: “This updated resource on the two historic leach pads is based upon results from a sonic drill program and metallurgical studies completed by Silver One as well as historic drill hole information from previous operators.”
The proceeds from the sale of the Shares will be used for the exploration, development and/or improvement of the Company’s existing mine properties, including those relating to bringing Relief Canyon into commercial production and for working capital and general corporate purposes.
Millrock Resources Inc. reports that drilling at the Echo Target on the West Pogo block of the 64North gold project in Alaska has now begun.
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