Oceanus Resources Corporation is pleased to report the 2017 fall exploration program drill results at its wholly owned El Tigre Gold-Silver Property located in northern Sonora, Mexico. The fall 2017 program comprised 600 meters of diamond drilling to define the strike and dip of the high-grade Caleigh vein and the low-grade alteration zone in the hanging wall.
Cameron King, Vangold CEO states, “This historic Phase One drill program is the first step in quantifying our assets, providing real time grade and quantity of AuEq ounces attributed to the stockpile. The core samples will provide confirmation of El Pinguico’s high grade historical production and support the earlier geological work, where trenching sample assays exceed in some areas, grades in the range of 15 g/t gold and 1,400 g/t silver. Upon completion of Phase One drilling, the core assays will significantly contribute with the 43-101 resource calculation and value of the UG stockpile.”
“We are excited by the grades and widths returned by Hole 7”, stated Stephen Maynard, VP Exploration of Minaurum. “As only the second hole ever drilled outside of the historic core of the district, it confirms our “piano-key” structural model and opens the door for drilling throughout the nearly untouched down-dropped blocks located on both sides of the up-thrown La Quintera-Promontorio block. With these results, we have now encountered significant mineralization in every target drilled in our initial drill program including; Minas Nuevas, Promontorio, Nueva Europa, Gap, and Europa-Guadalupe.”
SilverCrest Metals Inc. is pleased to report that the non-brokered private placement of $749,988 announced January 3, 2018 with Christopher Ritchie has completed. The private placement, which closed on January 17, 2018, is comprised of 451,800 units at a price of Cdn$1.66 per unit for gross proceeds of Cdn$749,988. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant being exercisable for one common share of SilverCrest at a price of Cdn$2.29 per share for a term of two years. No finders fee was paid in connection with this placement.
Igor Gonzales, President and CEO of Sierra Metals, commented: “The Company ended 2017 with sound production due to a very strong performance at Yauricocha, where we continue to reap the benefits of a successful operational improvements program resulting in higher tonnages, in addition to higher-grade material discovered through our successful brownfield exploration programs.”
Fred Davidson, CEO, stated, “With these drill results we continue to successfully extend the San Ramon mineralizing system which is larger at depth than near surface. These results along with some historic holes, extends the mineralization 250 meters south of existing mine workings and 200m vertically up-dip representing potential additional mining areas for the San Ramon Mine. We have two underground drill stations almost ready from which we will test the further extension of the zone to depth and to the south.”
Charles Funk, VP of New Opportunities and Exploration commented, That every trench displayed gold mineralization at such an early stage of exploration at Cuale is very encouraging. The reconnaissance trenching was undertaken in a core triangular area at the hilltop measuring 300 metres by 300 metres where strongly developed silicification correlates with high grades up to 48.5 g/t gold. Evrim is currently planning a follow-up program that includes further trenching and geophysics.
Orla Mining Ltd. announces that it has completed its previously-announced shares for debt settlement after being granted approval of the transaction by the TSX Venture Exchange. An aggregate of $206,783 in debt was extinguished through the issuance of an aggregate of 147,702 common shares of the Company at an issue price of $1.40 per common share. The issued common shares are subject to a four month hold period ending on May 18, 2018.
Galore Resources Inc. is pleased to announce that it has entered into a 5-year contract with Urbanizaciones Y Acabados, S.A. De CV URBYASA to mine gold at Galores 100% owned Los Gemelos claim. Management anticipates revenue from the mine going a long way toward satisfying the Company’s current and future overhead requirements. We are optimistic about Galores future and even though some consider this approach unconventional, we consider this a promising business strategy that should move this Company to an autonomous position. With a boost in demand due to significant production decreases in recent years, we feel our timing bodes well for increased gold prices.
Torex Gold Resources Inc. announces that it has filed a preliminary short form base shelf prospectus with the Securities Commissions in each of the provinces and territories of Canada, except Québec. The base shelf prospectus will allow Torex to make offerings of up to $500 million of common shares, debt securities, subscription receipts, warrants and units or any combination thereof. When final, the base shelf prospectus will be effective for a 25 month period. The specific terms of any offering of Securities, including the use of proceeds from any offering, will be set forth in a shelf prospectus supplement. The Company has filed this base shelf prospectus to maintain financial flexibility but has no immediate intentions to undertake an offering.
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