Fabled Silver Gold Corp. is pleased to announce diamond drilling updates from its upgraded 9,200 meter drill program on the “Santa Maria” Property in Parral, Mexico.
Equinox Gold Corp. reports that mining activities at its Los Filos Mine in Mexico have been temporarily suspended as the result of illegal blockades by a group of unionized employees and members of the Xochipala community, both of whom are demanding payments in excess of their contractual agreements.
Taj Singh, President and CEO, states: “This current set of holes, drilled in areas where there were significant gaps in previous drilling, confirm the continuity of higher-grade mineralization at depth in the South Corridor. Excellent grades over broad widths were encountered on a consistent basis highlighting the potential for Cordero to emerge as one of the few multigenerational mines in the silver space.”
The net proceeds from the Offering are intended for general corporate purposes.
Hernan Dorado, COO, stated: “We are very pleased with the pace with which we are filling the vital operating positions at this early stage of our ramp-up process. Our ability to readily hire quality people, often graduates of the University of Guanajuato, speaks to the depth of mining experience within the greater Guanajuato community.”
GR Silver Mining VP Exploration, Honza Catchpole commented, “We are excited to commence this new phase of our exploration program after the successful conclusion of the resource drilling at the Plomosas Mine and San Juan Areas. With the mobilization of seven rigs, we can now begin to test new Ag-Au vein targets that we have had our eyes on for some time.”
Once the Arrangement becomes effective, Shareholders will own shares in both public companies: (i) Vizsla Copper, which will focus on the 100% owned Blueberry copper project located in the Babine porphyry belt of Central British Columbia and the option to acquire a 60% interest in the Carruthers Pass copper property located 200 kilometres north of Smithers, British Columbia, and (ii) Vizsla Silver, which will continue to advance the Panuco Copala silver-gold project in Mexico.
All construction has now been completed with the full leach pad now lined and available for stacking. First loading of mined material from the Nicho Norte pit commenced earlier this month in preparation for the commissioning of leach operations around the end of June.
Riverside’s President and CEO, John-Mark Staude: “We are on track with BHP moving toward drill testing and continue progressing a strong pipeline of copper properties that have giant scale exploration discovery potential. As properties move along, some will no longer fit for BHP and these become 100% Riverside so over time Riverside’s sole ownership portfolio will also be growing.”
Subject to the receipt of all regulatory approvals, the Company will issue 3,333,333 Units, each Unit consisting of 1 common share and 1 common share purchase warrant, each warrant being exercisable at $0.075 for 24 months, expiring June 17, 2023, for gross proceeds of $200,000.
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