The option agreement between First Mining and Exploraciones Mineras Peñoles, S.A. de C.V. (an indirect Mexican subsidiary of Industrias Peñoles S.A.B. de C.V. (Peñoles, BMV: PE)), which was previously announced on November 20, 2015 and which granted Peñoles an option to acquire First Minings Puertecitos and Los Tamales copper properties in northern Sonora, Mexico, has been mutually terminated.
Silver Spruce Resources Inc. is pleased to announce that it has signed a binding and exclusive Letter of Intent to purchase and explore a submittal prospect near Chinipas, in far western Chihuahua State, of over 300 hectares, where field crews sampled 8.42 grams per tonne (g/t) Gold (Au), 8.04 g/t Au and 3.95 g/t Au in chip channel samples from mineralized outcrop in late September.
Source Exploration Corp. is pleased to announce that it has closed a tranche of its previously announced non-brokered private placement consisting of 5,192,500 units of the Company at a price of $0.15 per Unit for gross proceeds of $778,875. Each Unit consisted of one common share of the Company and one transferable common share purchase warrant. Each Warrant entitles the holder to purchase one Common Share at a price of $0.25 per Common Share until November 30, 2018 (subject to acceleration of the expiry date as described below).
Allan Barry Laboucan, President and CEO of Alset Energy said: One of our near-term project initiatives of re-sizing the concessions is well underway. With our largest concession completed, we can now continue with the reduction followed by splitting into smaller parcels of Sutti 22 as it remains advantageous and cost effective to do so. We are progressing expeditiously with our ongoing drill permitting and we are awaiting results from the laboratory for samples recently submitted that will provide us with insight into grade and recovery of lithium.
Timmins Gold Corp. is pleased to confirm closing of its previously announced bought deal offering of 36,400,000 units of the Company at a price C$0.55 per Unit for gross proceeds to the Company of approximately C$20 million.
“Although the production rate at the Rosario Mine decreased during the quarter due to some structural complexity and narrower veins at depth in the Rosario Mine, our mining costs were nonetheless in line with recent quarters. In addition, the mineralized material to be shipped from the Cinco Estrellas property to the Rosario mill facility contains higher gold grades relative to the Rosario Mine’s historical grades with the effect that gold will now represent a substantial revenue driver at the Rosario Mine,” said Arturo Préstamo, President and CEO. “The impairment charge against the San Felipe Project is the result of an internal analysis that identified the property as being a non-core asset at this time in light of the opportunity that exists at the Company’s recently established operating base in Zacatecas, Mexico.”
Red Tiger Mining Inc. today reported its financial and operating results for the three and nine months ended September 30, 2016. This press release should be read in conjunction with the Companys unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2016 and Managements Discussion and Analysis for the corresponding period, available on the Companys website at www.redtigermining.com and on SEDAR at www.sedar.com.
En el marco del evento Quality Festival organizado por Latín American Quality Institute, la empresa Minas de Oro Nacional, subsidiaria de Alamos Gold, recibió el reconocimiento Latin American Quality Awards.
Almadex Chairman, J. Duane Poliquin commented, “At the beginning of this year, we anticipated drilling several of our projects, including Los Venados, but our success at El Cobre has dictated that we change plans and focus our technical resources there. In that context we are pleased to option Los Venados to a group which is keen to advance the project through drilling.”
J.D. Poliquin, chairman of Almaden stated, “Today’s results once again show the presence of the high grade veins on the Tuligtic project. While we are now focussed on developing the Ixtaca deposit into a significant precious metals producer in Mexico, and are currently busy with engineering work and studies towards producing a PFS, we are also conducting exploration drilling to test for additional resource potential.”
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