The gross proceeds raised from the sale of the Offering will be used by First Mining to fund exploration programs that qualify as “Canadian Exploration Expenses” and “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada).
Radius Gold Inc. is pleased to report results from the phase three diamond drill program at its Amalia Gold-Silver Project in Chihuahua, Mexico. Pan American Silver Corp., the project operator, has provided assays for the first two diamond drillholes and new results include an interval of 23m at 4.61 g/t Au and 41 g/t Ag.
Bill Brodie Good, Technical Director of Alien, commented: “The Elizabeth Hill Silver Project is a great addition to our silver assets in Mexico and it is also complementary to the Hancock Ranges and Brockman Iron Ore projects located in the Pilbara Region of Western Australia.”
Mark Backens, President and CEO of Alio Gold said, “As we look ahead to 2020, I am very pleased to finally see Florida Canyon begin to operate as we know it can.”
A maiden drilling program targeting the Phu Lon Nickel Prospect within the wider Sayabouly Project in Laos and comprising 2,000 diamond drilled metres is anticipated to commence mid-January.
With samples in hand in combination with the geological & structural mapping, Colibri now feels confident moving forward with its planned drilling program of up to 1000 meters at Evelyn. Permits are being applied for and drilling companies are being contacted for quotations. The Company will provide guidance to the market as permits are received and when a drilling contract has been awarded.
The Company intends to use the net proceeds of the Offering for the continued exploration and development of the Company’s Las Chispas Project and for general working capital and administrative purposes.
Sharyn Alexander, V.P. Technical Services, stated: “The massive amount of historical data has taken quite a while to review and evaluate. With this process nearing completion, some very exciting drill targets are evolving. We look forward to commencing our exploration program early in the new year, as the Buck property allows for year round exploration and has excellent infrastructure.”
Brad Marwood, Managing Director CZL said “Utilising a mining contractor to start the Plomosas mine was the right decision and after 12 months of growth I am confident that the Company can deliver superior outcomes from the Plomosas mine. We will enter 2020 with a renewed focus and increased determination to achieve strong returns to shareholders.”
“These recent drill results continue a theme we saw in the last results, released in early November, of better grade times thickness on average than the current reserve,” said Brad Mercer, Capstone’s Senior Vice President of Operations and Exploration.
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