The net proceeds of the Offering will be used for the Companys continued exploration and drilling programs, to finalize a maiden resource estimate for the Las Chispas Project, and for general corporate purposes.
Akiba Leisman, Executive Chairman and Interim CEO states that, Q3 was an especially active quarter for Marlin. Most of the activity focused on expanding and deepening the north side of the Taunus pit and mitigating the rainy season at the La Trinidad Mine. Rainy season ended in early October and the Company regained access to the remaining high grade HS Zone in the north side of the Taunus pit. The Company is now focused on accessing the high grade HS Zone in the south side of the pit, drilling exploration targets at Colinas (less than one kilometer from the pit) and completing an expanded 30-hole exploration program at Commonwealth.
Drilling is proceeding well and since the start of the drill campaign in mid-October, a total of 51 holes, of the 120 planned, have been completed for 2,665m. Processing of the core samples is proceeding smoothly and samples from 37 holes have been submitted to the Bureau Veritas Laboratories in Vancouver, Canada. Results from the first batches of holes are expected to be reported to the market shortly.
Mining systems will be ‘unrecognizable’ in 5 to 7 years. Anglo plans to use virtual models, high-tech cooling in mines.
San Marcos CEO, Bob Willis stated: As we continue preparations to drill our 1068 copper, molybdenum and gold porphyry system, ongoing corporate strategic planning relating to new acquisitions and joint ventures could lead to significant opportunities for our shareholders. Our goal is, and has always been, to maximize stakeholder value through efficient use of our treasury for exploration and expanding our property portfolio.
Millrock Resources Inc. announces that it plans to raise gross proceeds of up to $1,600,000 through a non-brokered private placement of up to 6,400,000 units priced at $0.25 per Unit.
GFM Resources Limited is pleased to announce that it has entered into an exploration and evaluation agreement with Minera Auricup, S. de R.L. for exclusive access to conduct exploration and evaluation of the merits of a mineral concession of Auricups Baviácora concession, located in the state of Sonora, Mexico.
J. Duane Poliquin, Chairman of Almadex commented, We are very excited to report these first assays from the very northern part of the large Villa Rica Zone. We believe that these results are proof of large scale porphyry potential in this part of the project. While we have demonstrated the potential for a significant deposit with our Norte drilling, todays first pass results at Raya Tembrillo clearly show that we are dealing with a large cluster of porphyry systems all of which hold the potential to be important porphyry copper-gold deposits.
The field program currently underway will consist of geochemical rock and soil sampling, geological field mapping, and a 7.4 line-kilometer Induced Polarization geophysical survey. The IP survey will include 2 east-west lines between the existing IP data and the Mulatos mine boundary to the south (2,100 meters each) and one north-south line targeting the center of the felsic dome which has been identified. The primary objective of this field program is to further define drill targets with the anticipation of drilling in the first quarter of 2018.
“In the third quarter the Company dealt with production equipment challenges at both the Rosario Project and Veta Grande Project compounded by lower than expected head grades,” stated Arturo Préstamo, President and Chief Executive Officer of Santacruz. “Importantly, at Veta Grande we successfully reached Level 6 where we are currently developing in situ mineralized material contained in pillars located in the Veta Grande vein. Preliminary assay results from chip samples collected across of this material are indicating higher grades.” Prestamo continued, “At Rosario we reached Level 2 of the Membrillo Prospect where we again are seeing higher grades from preliminary assay results from chip samples collected across the main Membrillo vein. We remain focused on developing these key projects with anticipated improvement.”
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