Category: Exploration and Development

Orla Mining Executes Commitment Letter For Up To US$125 Million Project Finance Facility

“Following a comprehensive selection process, led by our Chief Financial Officer Etienne Morin, and supported by our independent advisors Cutfield Freeman & Co., some of our key shareholders have re-iterated their support by agreeing to provide Orla with a simple and flexible debt facility, the proceeds of which will be used for the development of our first mine. We appreciate the interest of other debt providers, ranging from conventional banks to streaming companies and alternative debt funds, who were willing to support the Orla team and were eager to be part of our company’s growth”, stated Jason Simpson, President and Chief Executive Officer.

Megastar to Purchase a 100% Interest in Cerro Minas Property, Mexico

“Given the exciting results we have announced to date from our Yautepec property, the addition of this land is very compelling for us,” said David M. Jones, exploration manager and director of Megastar Development. “Completely surrounded by our current land holdings, Cerro Minas displays similar epithermal characteristics to targets that we have already identified and, given our early-staged success, adding this land is a natural as we look to enlarge our foot-print in, what we believe, is a very prospective area.”

Gainey Commences Drilling at Las Margaritas Project

David Coburn, Gainey CEO, stated “Our exploration team has been working hard to generate these targets based upon surface mapping and sampling and prepare the infrastructure necessary to support the drill program. We have been eagerly anticipating this first-ever drill program at Las Margaritas. The Phase I program will aid significantly in understanding the controls on the gold mineralization and allow us to more effectively plan a follow up program.”

Riverside Provides Update on BHP Exploration Program

Riverside’s President and CEO, John-Mark Staude, stated: “We are encouraged by the collaboration with BHP to-date and our technical team continues to progress on new prospect generation in northeastern Sonora, Mexico. Our group has taken a high-level initial view observing the entire belt and now focus on combining data from the integration of our recently acquired Millrock databases along with BHP’s data to efficiently work through a series of high-level project evaluations during Q4 in advance of our next technical committee meeting near year-end. We look forward to progressing with BHP and drill-testing large porphyry copper targets together in 2020.”

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