Frederick Davidson, CEO and President of the Company comments, “After several lean years for the silver sector, we are seeing the long awaited surge in silver prices and correction to the gold silver ratio. We are pleased to finally be able to close a round of financing sufficient to realize the potential of the Guadalupe land package and to consider near-term expansion to our production profile.”
Silver Spruce Resources Inc. announced today that it has increased and closed its private placement announced August 7, 2020. The private placement consisted of the issuance of 36,390,000 units at a price of $0.05 per unit for proceeds of $1,819,500 with a lead order from Palisades Goldcorp Ltd.
The net proceeds from the Private Placement will be used to undertake Metates metallurgical test work and ongoing regional exploration and for general working capital.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “We are at an exciting juncture for the exploration of the Tabasquena project. Past geophysical work has identified a big geophysical anomaly, approximately 3500 metres horizontal, and at the point where it dips vertically, there is another 500 metres and the anomaly remains open.”
Candente Gold Corp. is pleased to advise that Sun River Gold has made the final payment of US$111,000, to increase their ownership in the Mexico Mine Tailings at El Oro Mexico, such that the company’s NPI will be reduced from 10% to 5% after the first US$1,500,000 is received by the Company.
Taj Singh, President and CEO, states: “When we acquired Cordero a year ago, we identified more than 5 km strike extent of historic underground workings on veins as a distinct exploration target that had the potential to impact the Project. Our initial holes targeting these vein trends show significant promise and we have now made the decision to present results from these veins separately from drill hole results targeting the bulk-tonnage resource. With four drill rigs now active on site, we are focused on both expanding the higher-grade bulk-tonnage core of the deposit and systematically assessing the extensive vein trends.”
Company crews have now entered the El Pinguico shaft and have safely accessed the #6 adit level. We believe that this is the first time that the #6 level has been accessed in this location since the mine was closed in 1913.
CARLYLE COMMODITIES CORP. is pleased to announce that it is conducting a non-brokered private placement consisting of the issuance of up to 1,750,000 flow-through units at a price of $0.30 per Flow-Through-Unit for gross aggregate proceeds of up to $525,000.
The high-grade silver zone outcrops as the ridge capping on top of the Mesa de Plata hill. It contains Measured and Indicated Mineral Resources of 15.5Moz silver in 1.8Mt @ 275g/t Ag within the overall Mesa de Plata Mineral Resource of 27.4Moz silver in 10.5Mt @ 82g/t Ag.
The proceeds of this Offering will be used exclusively for generative exploration activities on McEwen’s properties in the Timmins region.
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