On the Effective Date, the Company’s name will change to Heliostar Metals Ltd. and it will begin trading on the TSX Venture Exchange under the symbol HSTR.V.
The company is stock piling quartz mineralized material with an average grade of 4.2 GPT Au which is ready to be crushed and placed on the pad. Recovery of gold from the new heap leach pad is expected by December 1st, 2020.
Two additional holes are planned for this vein and the first of these is currently underway. Also, additional core from drill hole AGT-15 has been sent to the lab for assaying.
The aggregate proceeds raised under the Offering will be used for exploration expenditures related to the Gold Chain, Arizona project; the Jefferson Canyon, Nevada project; the Tip Top Gold, Nevada project; and, for working capital and general corporate purposes.
Akiba Leisman, Chief Executive Officer of Mako states that “this updated technical report confirms San Albino’s rank among the highest-grade open pit gold projects in the world.”
“In just a few short months since the Cerro de Oro acquisition we have rapidly advanced the project on a number of parallel fronts. All indications to date support our belief that the deposit is an ideal project for the design and development of another low capital intensity heap-leach operation to expand the Company’s future growth potential” stated Darren Koningen, CEO.
Thomas Atkins, President and CEO of Mammoth commented on Centerra ceasing exploration activities in Mexico, stating: “Travelling back to the project area, myself and Richard Simpson, V.P. Exploration at Mammoth, received a warm welcome after being absent the region the past 20 months. It was terrific seeing friends and acquaintances and discussing plans and the importance of our working together going forward for our mutual benefits.”
Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) is pleased to announce that it has closed its previously announced non-brokered private placement with the issuance of 5,400,000 units at $0.25 per Unit.
Production rebounded during Q3 after the successful restart of all four of our operations, which were temporary suspended during Q2, largely due to actions taken to prevent the spread of COVID-19 amongst our workers, business partners, and communities.
The proceeds from the Private Placement are expected to be used by the Company to purchase underground equipment for its Zimapan property and for general working capital and corporate purposes.
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