“We are very pleased to have boots on the ground for our Phase 1 mapping and sampling on El Mezquite, a low grade, epithermal target in a very productive, mining-friendly region,” stated Greg Davison, PGeo, Director and QP of Silver Spruce.
Pete Dougherty, President and CEO stated: “We’ve completed major milestones for the Company over the past few months with the Alio merger, the completion of the Schedule 2 process at Magino and the recent equity financing. The Company experienced a large cash increase of $23 million during the quarter amidst the two month shutdown of mining, crushing and stacking activities in Mexico due to COVID-19 restrictions.”
Proceeds of this Private Placement will be used for exploration at the Company’s San Javier Silver-Gold Project, and for general working capital.
“This has been a very exciting year for Coeur’s exploration programs and one of the best first halves of drilling results in the Company’s history,” said Hans J. Rasmussen, Coeur’s Senior Vice President of Exploration.
The net proceeds will be used primarily for funding part of the Salar del Diablo drilling program and working capital.
Taj Singh, President and CEO of Discovery commented: “With over $80 million of cash on our balance sheet we are in a formidable position to continue to drive value through aggressive exploration, resource growth and future development, and to solidify our position as one of the premier names in the silver space.”
Brigadier Gold Limited is pleased to announce that Mr. Garry Clark has been appointed to the Board of Directors of the Company.
GR Silver Mining President and CEO, Marcio Fonseca, commented, “These results confirm continuity of the Plomosas Mine Area mineralized system, extending at least 700 m along strike to the NW. Additionally, our recent surface exploration work has provided evidence that the mineralized footprint extends beyond the existing drilled areas. The definition of silver-gold rich mineralized zones close to the surface represents potential for the delineation of shallow resources at the Plomosas Mine Area”.
Warren Rehn, President and Chief Executive Officer of Golden Minerals, commented, “We are pleased with the initial drill results as they confirm the previously reported grades and modeled continuity of the deposit. We are particularly excited about drill hole 002, as this appears to indicate that there is good opportunity to expand the high-grade mineralization to the southwest, further supporting the potential development of the project.”
Arturo Bonillas, President and Chief Executive Officer of Magna, notes that: “Los Muertos exactly fits into our exploration pipeline profile. We understand the regional and local geology, and we are excited with the potential of Los Muertos given the project’s easy access, demonstrated mineral showings, and good geophysics. Los Muertos is drill-ready, and we plan to complete target confirmation and begin drilling as soon as possible. Magna is in an excellent cash and cash-flow position due to its well performing San Francisco mine, also located in the Sonora-Mojave Megashear.”
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