Darren Pylot, Capstone’s President and CEO commented, “Our 2020 Sustainability Report reaffirms our unwavering commitment to sustainability and is a reflection of the key role that sustainability improvements play in our business and our long term goal of creating value for all stakeholders.”
“We are actively exploring the El Mezquite with our maiden drill program, and another team is continuing the Phase 2 geological mapping on Jackie, and look forward to compiling the hyperspectral data from rock samples and drill chips with the broad strokes of the ASTER/LANDSAT alteration fields for enhanced target definition.”
“We’re pleased to release our first Sustainability Update which outlines our vision, values, and achievements related to ESG practices. Silver is a metal that is a key component of the emerging green economy. As we remove old mine tailings from within the city of Parral, we produce silver at a low carbon footprint of 0.004 tCO2e per ounce of silver produced,” said Brad Langille, President and CEO.
The net proceeds from the financing will be used for development activities at the Camino Rojo Oxide Gold Project and at the Cerro Quema Oxide Gold Project, exploration activities, technical studies on the Camino Rojo Sulphide Project, and for general corporate purposes.
Duane Poliquin, Chairman of Almaden, stated “We would like to thank our shareholders for their support. Mark Brown did not stand for election to the Board this year as he has decided to focus on other business interests. We thank Mark for his years of service to the Company. At the same time, we welcome Ria Fitzgerald as a new Almaden Board member.”
Arturo Bonillas, President and CEO of Magna stated: “We are all extremely proud of the Magna team for achieving this tremendous milestone on schedule. Achieving full-scale commercial production in such a short period of time is a testament to the hard work and quality of our Mexico-based operations team and as a company, we have demonstrated our ability to execute on all our target deliverables.”
Silver Tiger’s CEO, Glenn Jessome, stated, “We have stepped out 55 meters to the south from our initial discovery hole on the Benjamin Vein and the super high grade silver within wide mineralized zones continues to hold. It is apparent that the Benjamin is the northern extension of the Sooy Vein.”
“The exploration team is delighted that the Board has given us another drill rig to drill targets that emerged through our exploration to date,” said Dr. Peter Megaw, Chief Exploration Advisor to Reyna Silver. “We have a large area in which to seek the source intrusion, so the second rig gives us the flexibility to follow up on initial holes while continuing to drill our initially identified targets.”
Following completion of the Arrangement, current Fortuna shareholders and former Roxgold shareholders will own approximately 63.6% and 36.4% of the outstanding Fortuna Shares, respectively. Post-arrangement, Fortuna will continue under the name “Fortuna Silver Mines Inc.” with the ticker symbol “FVI” on the Toronto Stock Exchange and “FSM” on the New York Stock Exchange, and Roxgold will be a wholly-owned subsidiary of Fortuna.
No placement agent or finder’s fees were paid in connection with the Private Placement, and the net proceeds of the Private Placement will be used by Silver Bull for general working capital purposes.
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