The Company announces that it has negotiated debt settlement with arm’s length and non-arm’s length creditors. Pursuant to the debt settlement agreements, and subject to acceptance by the TSX-V, the Company has settled aggregate debt of $100,792 outstanding as at October 31, 2023, in consideration for which it will issue an aggregate of 1,343,891 common shares at a deemed price of $0.075 per share.
“We continued to see strength in our business as the increase in demand from copper and battery metal customers more than offset the slowdown in exploration from junior gold companies,” said Denis Larocque, President and CEO of Major Drilling.
Kootenay’s President & CEO, James McDonald states, “We are very pleased with the current program which continues to intercept D-Vein with excellent grades and widths. Each hole to date has expanded the size of the zone. We have two more holes to report on in this drill program, which are step outs to the southeast, where surface mapping indicates several hundred meters of strike potential on the vein.”
The Company intends to use the proceeds from the offering to accelerate exploration activity at the recently acquired Plomosas high-grade zinc-lead-silver property located in Chihuahua, Mexico, as well as for working capital requirements and other general corporate purposes including legal and financing fees related to the offering.
Mike Struthers, CEO, commented, “This is a transformational initiative for Campo Morado. Through this strategic funding we can push ahead aggressively with this program, unlocking the true potential of the mine. Our new VP Technical, Chris Richings, is leading the effort, combined with Ausenco’s lead process engineer Richard Whittering.”
“We also continue to discover new targets and build new resources at our other mines, such as at La Colorada, El Peñon, Huarón and Timmins. In addition, multiple mineralised intercepts of over 100 metre widths have further expanded and added confidence to the large mineralisation footprint at the La Colorada Skarn project, demonstrating the world-class nature of the deposit.”
“We are very pleased to see continued concentrated precious metals grades in new areas, as well wider zones of dispersed gold values, which we consider positive for bulk mineable mineralization potential,” Dr. Craig Gibson, President and CEO commented.
Greg McKenzie, President and CEO, commented: “The Quebradillas Mine continues to deliver high-grade silver results within immediate proximity to the existing underground development and services. Within the C1524 Zone, the mineralization appears to be strengthening at depth, exceeding grades and widths within the past two mining horizons.”
James Anderson, Chairman & CEO, said, “Ocean Partners has been our preferred metals trading partner since our first sale of precious metals concentrates back in 2021; they have always been first-in-line to offer support for our strategic initiatives as we continue to grow GSilver into a mid-tier producer of precious metals in Mexico.”
Heliostar Metals Ltd. is pleased to announce the appointment of Mr. Gregg Bush as Chief Operating Officer for the Company.
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