Magna Gold Corp. is pleased to announce that, further to its news release dated April 21, 2022, it has filed an independent technical report entitled “NI 43-101 Technical Report Initial Mineral Resource Estimate for the Margarita Silver Project Chihuahua, Mexico” and dated May 24, 2022, with an effective date of April 8, 2022.
Chief Executive Officer, Daniel Kunz commented, “The high-grade drill results reported today will continue to expand the resource potential at Guadalupe East considerably. We are encouraged by multiple intercepts of high-grade gold-silver mineralization being encountered in individual drill holes on the west end of this area.”
“Pan American has always been committed to sustainable corporate practices and social responsibility,” said Michael Steinmann, President and CEO. “Implementing standards, such as the VPs on Security and Human Rights, provides assurance to our stakeholders that our practices are aligned with global best practices.”
Carlos Silva, CEO of Santacruz, stated; “During this first quarter we started to see the contribution of our recently acquired Bolivian assets with record revenue and profits. At our Mexican operations we expect increased production from new stopes and less lower grade mineralized material from development work. this should reduce our AISC at Zimapan beginning in the third quarter.”
Taj Singh, President & CEO, states: “We are very pleased with the excellent progress we have made on our PFS and to be working with the same industry-leading project team that completed our Preliminary Economic Assessment (PEA). Initial results from the PFS metallurgical testwork program highlight the exceptional metallurgical performance at Cordero with recoveries typically ranging from 90-95% for Ag, Pb and Zn from the tests completed so far.”
The Company intends to use the net proceeds from the Offering for exploration of its three district-scale silver assets, Guigui, Batopilas and Medicine Springs and for general corporate and working capital purposes.
“This advancement of the Nicho Main Zone is a significant and positive development and the final major milestone in the ramp-up of operations at Santana. The development of the second and larger pit will provide access to the main source of known mineralization at the project supplementing current starter pit operations and allowing the Company to ultimately exit the project’s pre-commercial phase of production. ” stated Darren Koningen, CEO.
John Theobald, President and CEO commented, “We are very excited about the Margaritas acquisition as it contains a high-grade gold vein open in all directions with visible gold and the potential to be a bonanza-grade deposit.”
Mr. Sean Roosen, Chair and Chief Executive Officer of Osisko Development commented: “With the acquisition of Tintic we have inherited not only a highly prospective test mine in the Trixie project, but also a large, historic land package in one of the world’s premier mining jurisdictions.”
Steve Robertson, CEO of Infinitum Copper commented, “We are excited to begin trading on the OTCQB, as it allows us to expand our exposure to institutional and retail investors in the United States. We believe that trading on OTCQB can lead to enhanced liquidity and visibility in global capital markets”.
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