The net proceeds from the sale of the Common Shares will be used for working capital and general corporate purposes, primarily the exploration, development and/or improvement of the Company’s existing mine properties, including those relating to bringing Relief Canyon into commercial production.
Mr. Carlos Silva, CEO, commented: “We look forward to bringing the Zimapan Mine back to production in a safe and orderly manner.” Mr. Silva continued; “We will maintain the strict measures and initiatives that were put in place at the beginning of the Covid-19 pandemic in order to protect the wellbeing of our employees and communities”.
Vizsla Resources Corp. announces that it has renegotiated the terms of the Rio Panuco option agreement. Under the terms of the revised agreement, the option will be extended by one year. Additionally, the Silverstone option period has been extended into 2022 and the total Panuco mining district option payments between now and the beginning of 2022 will be reduced by over USD$4,100,000 from USD$5,634,500 to USD$1,480,000.
“The drilling at Los Ricos South continues to demonstrate the grade and continuity of this zone, with some grades in excess of 1 kilogram silver equivalent per tonne. Drill hole LRGG-20-152 continues to show more near surface mineralization at the newly delineated San Juan ore shoot,” said Brad Langille, President and CEO.
The Company intends to use the net proceeds of the Offering to fund the development of the La Virginia project in Sonora, Mexico, and for working capital and general corporate purposes.
“Since the outbreak was first detected, we have mobilized our scientific, regulatory and commercial teams to support virus analysis, identification, deployment of personal protective equipment as well as development of therapies and vaccines,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific.
GR Silver Mining President and CEO, Marcio Fonseca, commented, “With the confirmation of the new high-grade Au-Ag zones hosted in subvertical faults, 100 m along strike from the previously released cross section, we envisage an increased potential for definition of multiple high-grade mineralized veins for future resource estimation.”
Excellon Resources Inc. announces the Company will postpone the filing of its interim financial statements and management’s discussion and analysis for the three-month period ended March 31, 2020.
Great Panther Mining Limited reports that its Tucano Gold Mine in Brazil continues to operate at full capacity with strict COVID-19 mitigation protocols in place, and has not been subject to any government imposed restrictions in response to COVID-19. As previously announced, Great Panther intends to restart operations in Mexico this month in accordance with the Mexican federal government’s announcements of the lifting of restrictions that have suspended mining operations in the country since the start of April.
El Consejo de Salubridad General estableció los criterios del plan para el regreso a las actividades tras la emergencia por COVID-19; declaran actividades esenciales la construcción y la minería.
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