Due to excess demand, the Company increased the size of the Offering from the $2,000,000 originally announced and issued a total of 4,622,917 units at a price of $0.48 per Unit for gross proceeds of $2,219,000.
“Our ongoing mapping and sampling efforts in the western area of the district have highlighted several new drill ready targets including Cruz Negra,” commented Michael Konnert, President and CEO. “
Newmont announced that Aaron Puna will join the Company’s Executive Leadership Team as Executive Vice President and Chief Technology Officer effective January 2023.
“After a challenging start due to a particularly intense rainy season and some maintenance issues with the drill rig, we are now advancing with the drilling,” said Craig Gibson, President and CEO of Prismo. “The first batch of samples have been sent to the lab for analysis. Results are expected to be received in about two weeks.”
Richard Lock, CEO, commented: “The PEA and updated MRE will represent an important foundation for the intended future sale of the Project. Assets of the quality and favourable location of the Project are increasingly rare and we believe that the MRE and PEA will be a significant step in creating shareholder value as we continue to advance the Project.”
“Over the last year we have seen a major advancement in our understanding of our Pilar and El Picacho projects.”, commented CEO, Brodie Sutherland. “We are excited to continue that advancement with the first large scale bulk sample at Pilar to further confirm the grade and recovery of gold and silver.”
“This is a unique opportunity to create a long-term partnership between two high quality mining companies working together to de-risk and optimize a world class VMS deposit in a premier mining jurisdiction,” added Ammar Al-Joundi, President and CEO of Agnico Eagle.
“ELG Underground has been a significant driver of Mineral Reserve and Resource growth over the last several years, and the latest results from the ongoing drill campaign continue to validate our positive outlook. We are excited about the long-term prospects of the ELG Underground given the potential to continue to grow higher grade reserves and resources while steadily increasing mining rates toward a target of 2,000 tonnes per day.”
“We continue to build our cash and working capital position,” reported Robert Eadie, CEO of the Company. “We hope to have results of the exploration progress we have made utilizing our $2million additional budget to explore our properties as well as to expand development and resources at the San Martin mine.”
“Our exploration team has done a remarkable job of delineating a large resource with notable growth potential in only four years. Our confidence in the geology has also improved, resulting in a large portion of the deposit now being classified as indicated resources,” said Christopher Emerson, Pan American’s Vice President Business Development and Geology.
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