The proceeds of the Placement will be used to fund expanded drill programs on the Company’s silver-gold exploration projects in Mexico.
Peal Mexico S.A de C.V. announces that on June 30, 2020 it acquired 11,000,000 common shares of Magna Gold Corp. under the terms of a settlement agreement between Peal and a subsidiary of Magna entered into to settle an existing arbitration proceeding between the parties in relation to Magna’s San Francisco gold mine located in Sonora, Mexico.
As anticipated by the Company, the Pandemic did not have a material impact on Aranzazu’s operational performance in the second quarter, which the Company attributes to having accumulated inventory at the site and operational efficiency.
Golden Minerals Company announced today that it has signed a letter of intent with Fabled Copper Corp. for a transaction that, if executed, would grant Fabled the option to acquire a 100% interest in Golden’s Santa Maria silver-gold project located in Chihuahua State, Mexico.
Avino Silver & Gold Mines Ltd. reports that production of 158,286 silver equivalent ounces*, 50,581 silver ounces, 459,767 copper lbs, and 404 gold ounces was achieved in the second quarter 2020 from its Avino Mine property near Durango, Mexico.
Commenting on this acquisition, Azure’s Managing Director, Mr. Tony Rovira, said: “Due to the severity of the COVID-19 pandemic in Mexico and the uncertainty of future field operations, Azure sought gold and nickel projects in Western Australia to enable the Company to continue exploration activities.”
Planning for the gold exploration program has continued with desktop studies which have established targets and defined a Scope of Work for immediate commencement of field mapping, sampling and drilling in the current field season.
CEO Michael Konnert stated “Following the announcement of the high-grade results from the Napoleon vein last week, Panuco has demonstrated significant potential at the underexplored district. With the third drill rig on site and expanded discovery drill program, Vizsla can now explore other high potential targets along the Napoleon, Cordon del Oro and Animas vein corridors.”
Silver Viper’s President and CEO Steve Cope states, “Work on site progresses steadily and systematically. We explore with a section by section approach at El Rubi. Results of a newly generated airborne geophysics survey are expected to assist in our definition of drill targets along the El Rubi trend. We are pleased to have completed the initial test at the Macho Libre prospect and that the drill is now moving to Rubi East while we await the balance of Macho sample results.”
The Phase 1 program is focused on: upgrading and expanding the current mineral resource; testing identified zones of high-grade gold and silver potential; and advancing our understanding of the geology and structural controls of the known deposits on the property.
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