Canasil Resources Inc. announces a non-brokered private placement of up to 4,000,000 units at a price of $0.125 per Unit for total gross proceeds of up to $500,000 to fund drill programs on the Company’s silver-gold projects in Durango and Zacatecas States, Mexico.
Silver Tiger’s CEO, Glenn Jessome, stated, “Our decision to focus our drilling along kilometers of the Sooy Vein, that had limited historical mining, is advancing the El Tigre District very quickly. Step-out drill Hole 244 on the Sooy Vein is located approximately 1.1 kilometers to the south of Discovery Hole 202 and step-out drill Hole 243 is located approximately 1.1 kilometers to the north of Discovery Hole 202. The next step in advancing the El Tigre District is the drilling that we have begun on the Seitz Kelly Vein, which also had limited historical mining.”
The drill rig will be moving over to the nearby Banderas Property in the next few days and drilling will commence promptly. Drilling will target the deeper extensions of the major gold-silver rich veins where the source and potential convergence zones have never been tested.
Permitting is also progressing well and final permits are expected to be received within approximately one month. Sun River has also advised that most of the equipment required for the reprocessing operation has been procured.
Chesapeake Gold Corp. wishes to report that a 16 hole infill drill program will commence in November on its world class, Metates gold-silver project located in Durango State, Mexico.
“We have had another solid quarter of production from Platosa at the higher productivity rates that we have realized since Q3 2020,” stated Brendan Cahill, President and CEO. “We realized good improvements in mill recoveries late in Q3, which we continue to see as Q4 processing has commenced.”
Newmont Corporation will appoint Peter Toth as Executive Vice President, Strategic Development, a 25-year veteran of the industry to support positioning the Company for the next 100 years of strategic growth for its stakeholders. Toth will join Newmont effective July 1, 2022.
Macario Rocha-Rocha, Head Geologist and Project Manager of Benjamin Hill Mining Corp states: “The data that this study provides allows us to better comprehend the behavior and origin of the fluid which generates the mineralized structures at the Sonora Gold Property. It pushes our team forward into thinking of a bigger potential at depth for a gold-copper enrichment, and the possibility of a porphyry system.”
A proposed mining overhaul from Mexico’s president that seeks greater government control over the sector has swung the ruling party back to its nationalist leanings and alarmed industry leaders.
“With the success of the first year of exploration in Mexico, we are very pleased to announce that our interest in the mining concessions covering the Copalquin gold-silver district has reached 25% as we progress ownership to 100% via our purchase option agreement.”
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