GoGold Resources Inc. is pleased to announce the release of financial results for the quarter ending December 31, 2016. GoGold recorded revenue of $6.9 million from the sale of 413,941 silver equivalent ounces with a cash cost per silver equivalent ounce of $6.70, with an operating income of $2.175 million for the quarter (All amounts are in U.S. dollars).
MX Gold Corp. has entered into a binding option agreement with American Metal Mining SA de CV whereby, upon certain scheduled payments totalling $1,525,000 (U.S.), the company will acquire 50 per cent of the shares of a private Mexican corporation that holds the IDS project. The IDS project consists of a past-producing gold smelter, three acres of land situated around the smelter, and various equipment and permits associated therewith. Upon advancement of the initial payment of $650,000 (U.S.), the company was granted a 49.5-per-cent net profit participating interest in the IDS project that will remain until option exercise, provided that all payments are made by the company in accordance with the option agreement.
Fred Stanford, President & CEO of Torex stated: These encouraging high grade results indicate that the Sub-Sill mineralization is open to the north, south, and east, and is also open at depth. A resource estimate that includes todays results is expected to be completed in Q2/17. Another step out drill program is being planned and drilling is expected to commence this quarter. This program will also seek to probe the extension of mineralization at greater depths, and to identify the source of the magnetism that past studies have indicated is present.
Almadex Minerals Limited is pleased to announce that the Company has increased the size of its previously announced proposed non-brokered private placement financing to up to approximately 2,600,000 units to raise up to approximately $3,500,000 at a price of $1.35 per Unit.
Zacatecas advirtió que no habrá marcha atrás al impuesto ecológico en la entidad.
Leagold entered a binding sale and purchase agreement with Goldcorp Inc. dated January 11, 2017 to acquire the Los Filos Gold Mine for $350 million through the purchase of Goldcorps Desarrollos Mineros San Luis S.A. de C.V. subsidiary. The purchase price is made up of $279 million in cash and $71 million in common shares of Leagold. For further details of the Acquisition, see the Companys news release of January 12, 2017.
Canasil Resources Inc. announces that the Company has received assay results for the first drill hole, ES-16-12, of the 2016-17 core drilling program at the La Esperanza silver-lead-zinc project in Durango and Zacatecas States, Mexico. This drill hole intersected an extended interval of banded quartz veins, veinlets and breccias hosted within fractured and brecciated volcanic rocks from 345 metres to 391 metres down-hole. The interval returned assay results indicating several narrower zones carrying anomalous gold and copper, low silver and appreciable lead and zinc values. The widest zone at the bottom of the hole returned an intercept of 3.57 metres (true width 3.08 metres) grading 0.14 g/t Au, 21 g/t Ag, 0.82% Pb and 2.63% Zinc. The principal mineralized intervals are reported in the table below:
Alamos Gold Inc. today announced that it has closed its previously announced bought deal offering at a price of US$7.95 per common share. A total of 31,450,000 common shares were sold in the offering for gross proceeds of US$250 million.
Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased to be drilling and exploring with Antofagasta as a partner in Sonora, Mexico. The drill program at Thor has delivered a positive proof of concept with the discovery of extensive porphyry style veining in the drilled target areas. The project will now be progressed with further targeting work on both the upper and lower plates in an attempt to vector in on a potential copper porphyry discovery.”
Fortuna Silver Mines Inc. is pleased to announce that it has completed its previously announced bought deal financing and has issued 11,873,750 common shares, including 1,548,750 common shares that were issued upon the full exercise of the over-allotment option, at US$6.30 per Offered Share for gross proceeds to the Company of US$74,804,625. The Offering was conducted by a syndicate of underwriters co-led by Raymond James Ltd., BMO Nesbitt Burns Inc. and Scotia Capital Inc., and including CIBC World Markets Inc. and National Bank Financial Inc. The net proceeds from the Offering will be used for general working capital purposes.
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