Kootenay’s President & CEO, James McDonald states, “these are important holes because they increase the volume of mineralization in the D Vein shoot with impressive grades and widths.”
Commenting on the PEA, Richard Lock stated: “This is a significant start to the process of evaluating Santo Tomas. The PEA firmly demonstrates the economic viability of the Santo Tomas Project and justifies its continued development. The combination of excellent infrastructure, simple metallurgy, a cohesive and consistent grade distribution, and a low strip ratio, along with the identification of several existing opportunities for resource expansion, provide additional strength and certainty to the Project.”
“The completion of the zinc circuit in the SART is important as it expected to generate approximately $500,000 per month for cash flow, which will pay back the $2M capex quickly. We believe it will improve the metallurgical recoveries of gold and silver on the material which we are processing currently, so we expect to see production increase once commissioning is completed,” said Brad Langille, President and CEO.
Silver Bull Resources, Inc. is pleased to announce that, subject to approval of the Toronto Stock Exchange it intends to complete a non‑brokered private placement of up to 11,685,000 units at a price of C$0.11 per Unit, for gross proceeds of up to $1,285,350.
The PEA demonstrates the potential viability for a nine-year life of mine, open pit, heap leach mining operation with an initial two-year production rate of 4,000 metric tonnes per day and an increase to 12,000 mtpd for the remaining LOM.
Drilling is expected to be conducted in two stages and has been permitted for a total of 28 drillholes and 4200 m, commencing with a first stage in late 2023. The second stage of the drilling program will be designed subject to the results of the initial stage of RC drilling.
Duane Poliquin, Chair of Almaden, stated, “While we await a decision regarding the substance and legality of the Submission, the injunction will prevent the Government of Mexico from declaring “freedom of land” in the area covered by Almaden’s mineral title applications. However, we are acutely aware of the damage already caused to our stakeholders over the past several years by this ongoing arbitrary treatment and we are considering additional legal remedy to address the loss of rights in Mexico.”
“This unnecessary strike has caused significant hardship for all of our employees, contractors, host communities, suppliers and customers,” said Tom Palmer, Newmont’s President and Chief Executive Officer. “We will continue to honor our commitments, comply with the law and the Collective Bargaining Agreement, and work to protect the long-term value of Peñasquito.”
During the third quarter of 2023, the Camino Rojo Oxide Mine produced and sold 32,425 and 31,060 ounces of gold, respectively. Year to date, Camino Rojo has been performing better than plan and, as a result, the Company is increasing full year gold production guidance to 110,000 to 120,000 ounces from its initial guidance of 100,000 to 110,000 ounces.
Fortune Bay Corp. is pleased to announce that it intends to complete a non-brokered private placement for aggregate gross proceeds of up to $700,000.
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