The Company also agreed to issue to the investors unregistered warrants to purchase up to 7,650,000 shares of common stock in a concurrent private placement.
Matthew O’Kane, Managing Director of Comet Resources, commented “Comet focussed its efforts in Q4 on setting up a team and the resources required in Mexico to advance the Santa Teresa Gold Project, while at the Barraba Copper Project we commenced the first field exploration program at the Murchison Mine while we wait for the permitting of the drilling program planned for the Gulf Creek Mine to be finalised.”
In December 2020 Mithril completed its maiden drill program completing 7,188 metres of HQ diamond core drilling using a man portable drill rig with helicopter assistance. The program was completed on time and within budget and achieved the goals for the 2020 exploration program in the Copalquin district.
Sierra Metals Inc. is pleased to announce that Jose Vizquerra Benavides has been appointed as Chairman of the Board of Directors of the Company. Mr. Vizquerra is President, CEO, and Director of O3 Mining Inc. and a Director of Osisko Mining Inc.
The net proceeds of the Offering will be used for working capital purposes at the Company’s Relief Canyon mine as that operation proceeds towards full production, development and exploration at the Company’s 60%-owned Galena Complex, care and maintenance at the Company’s Cosalá Operations, general corporate and administrative expenses, repayment of outstanding debt obligations, and working capital purposes.
“2021 will represent a significant increase in our exploration efforts with a planned record of 90,000 metres of drilling representing a $13 million investment. Our key objectives will be to continue to extend the Tucano open pit mine life, further prove up the underground with a view to extending the high-grade zones, and make meaningful inroads into key targets in the expansive Tucano regional land package. Building on our 2020 exploration success in Mexico will also be a key focus for this year.”
In Mexico: The Fenix Feasibility study, that envisions a gold and silver mine with a 9.5-year life, will be published by February 15th. The project is turn-key with permits in hand, as well as an established local workforce.
The COVID-19 situation in Mexico continues to deteriorate and with the health and safety of employees and contractors of paramount importance, Azure has placed all projects on care and maintenance until the situation improves.
The Plomosas Plant Refurbishment Project commenced on December 31 and operations were impacted by lower-than-expected operator and equipment availability.
The Company announces the appointment of David R. Gunning, P.Eng., as a Director of Orex effective immediately. Mr. Gunning is a graduate mining engineer with 40 years’ experience in the mining industry. His experience includes exploration, operations, and consulting.
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