Capstone have indicated that they have planned an initial 2,500m drilling program as part of their required $450,000 USD expenditure commitment for 2021. Drill locations will be finalised following interpretation of the IP report, with provisional planning well underway.
The Company wishes to confirm that the case pertaining to its Ixtaca mineral claims is not being heard at the Supreme Court level and therefore this reported ruling cannot relate to the Company’s Ixtaca project.
The La Esperanza silver-gold-zinc-lead project covers 14,916 hectares, located 100 km SSE of the city of Durango in southern Durango and northern Zacatecas States, Mexico. The project is easily accessible from Canasil’s operating base in Durango with excellent infrastructure. The project is located on the well-recognized world class Fresnillo silver belt, hosting a number of prominent silver mines such as the San Martin-Sabinas mines of Grupo Mexico and Industrias Peñoles, the La Colorada mine of Pan American Silver Corp., Fresnillo PLC’s Fresnillo mine, and the Fresnillo-MAG Silver Corp. Juanicipio mine.
“We are extremely impressed with the exploration results of 2020 from the Evelyn property including the high grades of some of the recent trench sampling. Our plan for 2021 is to capitalize on this momentum and swiftly prepare for a drilling program on the Evelyn Gold Project,” said Ron Goguen, President & CEO of Colibri.
During the past year, the Company completed two large drill programs totaling over 13,000 meters, collectively on the Columba and Copalito properties. Based on the results seen to date, both projects hold great promise for the discovery and development of a classic high-grade silver or silver and gold vein deposits, respectively.
Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased to have drill-tested the Santa Rosalia target, which is only the first of four target areas along a 2.5 km mineralized trend. Results have demonstrated a structural complex environment that Riverside’s team is reviewing and using for refining and developing more targets that we look forward to testing in the coming months at Cuarentas.”
Vizsla President and CEO, Michael Konnert, commented: “The first results for 2021 are very encouraging. Tajitos continues to deliver high silver and gold grades and wide widths in areas of historic mining. The Company is expanding the known zones and stepping along strike for new bodies of mineralization in a systematic step-out drilling program that continues into 2021. The Company has commenced drilling for the year with five rigs in operation that continue to expand earlier discoveries and demonstrate the overall potential of the Panuco district.”
Cameron Tymstra, President and CEO of Tarachi Gold, commented, “This past year was one of foundation building for Tarachi. The Company secured two option agreements totalling 3,708 ha of highly prospective gold claims in the Sierra Madre belt of Sonora, Mexico and signed a letter of intent for the Magistral Mill and tailings with potential to transform the Company into a near term producer of gold.”
The use of proceeds from this financing will be used to primarily fund the Company’s PhD geologist review of the Tenoriba project, fund 3D modelling of combined historical IP-Mag geophysical, surface and drill data, an infill IP/Mag geophysical survey on the 60% of the mineralized area on the project not covered by the historical survey and perform some confirmation mapping and sampling, which Company geologists feel are necessary prior to the selection of drill targets as part of its 50-hole, 7,500 metre drill program.
On January 11th, 2021 Canuc announced the results of a drone-supported magnetic survey conducted over the Company’s claims. The magnetic survey has identified 3 large magnetic anomalies each of which is 600 meters in width and with lengths ranging from 600 meters up to 1,000 meters.
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