Rob McEwen commented: “These funds will be used for exploration to facilitate the rapid expansion of our discoveries at Stock and Grey Fox, which are key elements in our plans for growing the Fox Complex annual gold production to 100,000-150,000 oz over a 10-year mine life.
“Average annual production is projected at 26,000 oz gold in Phase 1 and 4,200,000 oz silver equivalent in Phase 2. The critical path environmental permits are in hand for the first phase of production. Our next steps will involve detailed engineering, assessment of procurement options, and the evaluation of financing alternatives,” said Rob McEwen, Chairman and Chief Owner.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “Three holes were completed near hole AGT-15 which previously reported a high-grade hit of 2.15m of 664.g/t silver. The most recent holes in the southern domain of the claims appear to extend the mineralization in veins to over 1000 metres. At the nearby MAG Silver mine, the highest grades were intersected several hundred metres deeper than where we have drilled the veins at Tabasquena. Our next focus will be to drill significantly deeper to test this depth potential, with drilling to begin shortly.”
Silver Dollar Resources Inc. has completed a non-brokered private placement of 400,000 common shares at a price of $1.40 per share to raise $560,000 in gross proceeds.
Mexican Gold Mining Corp. is pleased to announce the undertaking of a non-brokered private placement comprised of 20 million shares of the Company at an issue price of $0.07 per share for aggregate gross proceeds $1,400,000.
GR Silver Mining Ltd. and Mako Mining Corp. have agreed to amend their Letter of Intent dated December 12, 2019, to extend the date by which they are required to sign a Definitive Agreement to January 31, 2021.
Gold Resource Corporation regretfully reports an Arista mine employee was fatally injured Thursday, December 24, 2020 at its operations in Oaxaca, Mexico.
Canuc Resources Corporation announces the closing of a non-brokered Private Placement for gross proceeds of $300,000 CAD.
Nine holes totaling 1,505 metres of RC drilling was completed.
The estimate for the Cerro de Oro Project, using a gold price of US$1,450/oz and a cut-off grade of 0.18 g/t, has an Inferred Mineral Resource of 48 million tonnes grading 0.41 g/t gold or 630,000 ounces of contained gold.
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