Golden Tag Resources Ltd. is pleased to provide a project update, inclusive of the first three diamond drill holes from the ongoing 4,500 metre exploration program, on the Company’s 100% owned San Diego Project, one of the largest undeveloped silver projects in Mexico.
“El Favor continues to deliver high grade zones exceeding a kilo per ton surrounded by wide zones of potentially bulk mineable grades near surface,” said Brad Langille, President and CEO. “With 9 drill rigs operating, we are aggressively advancing towards our initial resource estimate in Los Ricos North.”
“Our safety protocols are being meticulously executed in order to protect our workforce and the communities that we operate in. As previously stated, the first quarter was planned to be a low production quarter due to heavy stripping. Production is expected to ramp up quarter-over-quarter for the remainder of the year as mining progresses into sectors with lower strip ratios.”
Mr. Arturo Bonillas, President & CEO of Magna commented, “We are extremely proud of our progress at San Francisco – our team has made considerable progress during ramp-up and we are well on our way to establishing San Francisco as a stable free cash flow generator.”
Kenneth MacLeod, President and CEO of Sonoro, stated, “The proceeds from the increased private placement will enable our technical teams to complete additional drilling, increasing the results available for consideration in an updated resource estimate, and additional scientific field work and geological structural analysis which will be incorporated into the 43-101 technical report being prepared by Micon International.”
Bahman Yamini, President and CEO of Canasil commented: “The results from the initial drill holes on the southeast extension of the La Esperanza vein along strike and to depth confirm that the vein structure can be located as projected in a previously blind zone, and represent a significant increase to the overall mineralized envelope as previously reported.”
Ridgestone Mining Inc. is pleased to announce a phased exploration plan at it’s wholly-owned Rebeico project in Mexico. Work to date has been positive and indicates that the identified copper-gold mineralization on the Rebeico claims may be part of a much larger mineralized system and is most likely related to this system.
“We are very excited with the work that SRG has completed to advance the Tailings Project,” says Joanne Freeze, President and CEO of Xali Gold. “There have been some delays due to government closures during the COVID pandemic, but the project is now moving forward and we are very excited to the re-processing getting into operation.”
The proceeds from the Private Placement are expected to be used by the Company to complement the acquisition of the Zimapan mine, to accelerate exploration activities at the Horizontes (Lomo del Toro) area and for general working capital and corporate purposes.
Peter J. Hawley, CEO and President, states, “The rest of this hole is now being sampled on a rush/priority. In addition, once the drill machine completes hole SM20-13 it will return to this drill station, re-enter the hole and continue from the depth of 234 meters onwards until the structure has been clearly exited.”
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