Brad Mercer, SVP Exploration and Operations said, “Since the Resource stated in the 2018 Technical Report, our exploration team has drilled 108,000 meters within a budget of US$10 million. This new Resource Estimate has exceeded our expectation to upgrade Vein 20, the principal zone in the MNFWZ, to Indicated Class, previously estimated as Inferred in 2018.”
Pete Dougherty, President & CEO stated: “Magino is truly a valuable and strategic asset given existing project infrastructure, the already-known mineral endowment of the orebody and the existing exploration potential, its location within the mining-friendly jurisdiction of Ontario, Canada and its proximity to other strong cash flowing operations such as the Island Gold mine.”
“We are very pleased to acquire El Mezquite in a very productive, mining-friendly region. The Company is quickly reviewing the geological database and developing exploration plans to earn its 50% interest in Yaque,” stated Greg Davison, PGeo, Director and QP of Silver Spruce.
Placement of 190.0 million Shares to raise $0.57 million on the same terms as the recently completed Entitlement Issue.
“We are pleased to be debt free again and can now direct our positive cash flow to improving production at the San Martin mine,” stated Robert Eadie, CEO and President.
The Board of Directors have appointed Ms. Ana Lopez as a Director of the Company effective June 9, 2020.
Kootenay Silver Inc. announces its partner on the Cervantes project, Aztec Minerals Corp. has provided an updated review in anticipation of signing the joint venture agreement and developing the first joint venture exploration program.
The Board believes that the proposed share consolidation is necessary to facilitate new equity investment in the Company to finance continuing business activities and assist in its overall marketing efforts.
Silver Viper’s President and CEO Steve Cope states, “We are extremely happy with this new achievement in the Company’s development as we look forward to expanding our reach into the U.S. Capital Markets. The OTCQB platform will enable Silver Viper to access a larger investor base and subsequently lead the Company to increased liquidity and shareholders.”
Pursuant to the terms of the indenture governing the Existing Notes, New Gold will issue a conditional notice of redemption to redeem the outstanding Existing Notes, which redemption will be conditional upon the successful completion of the offering of the Notes.
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