Bear Creek Mining Corporation announces that further to the Company’s news release dated October 19, 2023, the Company has entered into an amendment agreement to amend the convertible promissory note in the amount of US$26,632,458 issued to Equinox Gold Corp. on October 19, 2023.
“Resource expansion drilling at Copala, both to the north and southeast, continue to highlight a robust precious metals structure well beyond the January 2023 resource boundary,” commented Michael Konnert, President & CEO. “New step out drilling has extended the total mineralized strike length of Copala by approximately 100 metres to the south and it remains open in both directions. Additionally, drilling has confirmed the continuity of the high-grade Copala 2 vein located between Tajitos and Copala main which now measures a total of 600 metres in mineralized strike.”
James Anderson, Chairman & CEO said, “The past producing El Horcon mine is ideally situated to become a satellite mining operation that could significantly expand Guanajuato Silver’s production profile. The El Horcon mine fits well within our strategy of further consolidating the Guanajuato mining district as we look to take advantage of the excess processing capacity of our two operating mills in the area. In addition to being able to immediately access low-cost mineralized material from the existing stockpile, we are confident that the development programs we have planned for 2024 will add value to El Horcon and allow us to rapidly advance this exciting project.”
Dan Dickson, CEO, commented, “Our track record of exploration success has sustained operations at Bolañitos for over 16 years. Ongoing exploration results demonstrate our commitment to targeted and cost-effective brownfields exploration, which has been successfully extending mine life in this historically rich district. We continue to make progress year over year in understanding the regional mineralization system and remaining prospectivity at Bolañitos.”
“At the beginning of this year Heliostar set out to transform the Ana Paula Project into a deposit that will support a high-margin, underground gold mine. Today’s updated resource estimate is a major milestone on this rapid path of growth and de-risking toward production. In acquiring the project, the Company saw three key levers to improve the deposit; increases in both resource size and grade, enhanced gold recoveries and higher upfront mining grades. Today’s resource estimate, coupled with the Company’s recent metallurgical results have firmly delivered on each lever.”
Eric Caba, Bear Creek’s President and CEO, stated, “We are systematically addressing the short term challenges in front of us to realize the potential in Mercedes and recoup the value lost across the last year. The restructuring of the debt and stream burden has set Bear Creek up to begin positive cash generation going forward and continue to advance Corani, our cornerstone asset. We are building a management and technical team, supported by the Board, that is focused on increasing margins as well as production.”
James Anderson, Chairman & CEO of Guanajuato Silver, said, “Guanajuato Silver remains committed to achieving mid-tier producer status through a rapid combination of accretive mine acquisitions and the optimization of our existing mine portfolio. Over the third quarter we conducted a shift in operating tactics as we adjusted mining operations to target higher grades at Valenciana and El Cubo, and to achieve better efficiencies at Topia through an entirely new business model.”
The proceeds of this financing will be used exclusively for qualifying Canadian Exploration Expenditures (CEE) and Canadian Development Expenditures (CDE), within the meaning of subsection 66(15) of the Income Tax Act (Canada), on McEwen’s properties in the Timmins region.
Kootenay’s President & CEO, James McDonald states, “We are pleased that our planned drilling is intersecting D Vein consistently at expected target depths with a 100% hit rate to date for the D Vein. The widths and grades we are seeing at D Vein are extremely encouraging and support our belief in the potential of defining a significantly sized silver resource. We are also starting to intersect additional mineralized veins flanking the main mineralized vein.”
US copper major Freeport-McMoRan has ordered more than €10 million of Metso tankhouse material handling equipment for its El Paso electrorefinery in Texas.
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