The net proceeds from the sale of the Common Shares will be used by the Company for exploration and general corporate and working capital purposes.
A Phase II drill program is currently in progress with 3,500 meters of reverse circulation drilling in twenty drill holes. Results for four drill holes are included in this release, highlighted by drill hole JES-21-43 which returned 35.1 meters at 0.66 g/t Au and 6 g/t Ag (0.72 g/t AuEq).
The Properties are located in the State of Sonora, which hosts Mexico’s most prolific Mining Camps hosting many of the World Major Gold Producers.
The work completed by SGS was a first-pass bench-scale scoping study based on a small bulk sample of historical drill core, being 100 kg. It is the first metallurgical test-work completed at Panuco and demonstrates robust gold, silver, lead and zinc recoveries above 90% are achievable.
“With the extremely high-grade intercept in hole CDH-072 we have confirmed the bonanza grades El Cometa intercepted by the historic drilling (UC-03) and further developed the model for the complex El Cometa vein system. The model will guide future exploration in this structure which extends 2km east to Los Reyes. Our deeper drilling to extend the eastern side of the El Refugio clavo has shown excellent continuity intercepting multiple veins.”
The full technical report dated May 30th, 2021, with an effective date of May 1st, 2021 is entitled “Technical Report for the La Virginia Precious Metal Project, Sonora, Mexico”. The report was prepared for Silver Viper Minerals Corp by Arseneau Consulting Services Inc. and can be found under the Company’s issuer profile at www.sedar.com.
Azucar Minerals Ltd. announces that, pursuant to its Stock Option Plan, it has granted stock options to certain directors and officers of the Company to purchase an aggregate 413,000 common shares in the capital of the Company at an exercise price of $0.13 per share which expire on June 14, 2023.
J. Duane Poliquin, Chairman of Almadex, stated “It is gratifying to see GMTN make such rapid progress at Elk. We are very excited by the possibility that our 2% NSR royalty on this Project will become the first cash-flowing royalty in the Company’s portfolio.”
Almaden Minerals Ltd. is pleased to announce that it has completed a surface induced polarisation geophysical (IP) program at the Ixtaca deposit, Mexico.
Aggregate gross proceeds under the Offering were $6 million. Silver Viper intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes.
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