Silver Spruce Resources Inc. is pleased to announce that it has received assays from due diligence samples taken from the Timmins Gold (now Alio Gold) reverse circulation drill program stored at the project and assays from new surface samples taken by the independent Qualified Person preparing the maiden NI 43-101 report on the Cocula project in Jalisco State, Mexico.
Avino Silver & Gold Mines Ltd. further to the Companys press release dated July 24, 2019, the Company is pleased to announce that it has closed the bought deal financing with Cantor Fitzgerald Canada Corporation, as sole bookrunner and sole underwriter for the issuance of a total of 7,735,360 common shares of the Company for aggregate gross proceeds of $6,900,340, consisting of 5,411,900 common shares at the issue price of CDN$0.85 per Common Share, and 2,323,460 common shares which qualify as flow-through shares as defined under the Income Tax Act (Canada) at the issue price of CDN$0.99 per FT Share.
Goldplay President and CEO Marcio Fonseca commented, ‘The high-grade gold-silver intercept is highly significant as it supports the Companys goal of expanding the San Marcial resource. It is the first time in approximately 10 years that any type of exploration work has been carried out on the project. One year ago, our data indicated high-grade silver, lead and zinc at San Marcial. Today, we have added high-grade gold. We are committed to continue systematic exploration and drill programs at San Marcial’
Aztec Minerals Corp. announces that it has completed the terms of its earn-in and has exercised its option to acquire a 65% interest in the Cervantes porphyry gold-copper project in Sonora, Mexico from Kootenay Silver Inc. Kootenay retains the remaining 35% interest in Cervantes.
VVC Exploration Corporation announces the Company is raising up to CA$2.5 million (approx. US$2.0) in a non-brokered private placement of units of the Company at a price of $0.05 per Unit.
At the Pitarrilla project, we are reviewing drill programs and engineering studies to identify additional zones and continuity of high grade Mineral Resources with the potential to improve project economics based on current metal prices. We are evaluating contractors to extend the existing underground access and drill these areas. If approved, drilling is anticipated to commence in the second half of 2020.
“The Company remains on target to achieve its full year production and cost guidance despite the expected lower production from the Galena Complex and lower realized metal prices in the quarter,” said Americas Silver President and CEO Darren Blasutti. “The second half of 2019 will be a very exciting period for our Company as we expect not only higher silver production, but most importantly, first gold pour from the Relief Canyon Mine.”
Octavio Alvídrez, Chief Executive Officer of Fresnillo plc, said: “As we previously disclosed in our second quarter production report, continued challenges at our Fresnillo, Saucito and Herradura mines, combined with higher costs, have impacted profitability for the period. Following the measures put in place, we have seen some short term improvement in mine performance at both Fresnillo and Saucito and we expect to see a gradual improvement in the following quarters, albeit not at the rate we had anticipated. We have therefore adjusted our full year production forecasts in the second quarter production report.”
During the quarter, Plomosas mined 15,881 tonnes of ore at 14.8% zinc and 6.7% lead and completed 579.7m of development. Plomosas achieved record production in May, with 7,088 tonnes of ore mined at 14.5% zinc and 6.0% lead.
Starcore International Mines Ltd. has filed the results for the year end dated April 30, 2019 for the Company and its mining operations in Queretaro, Mexico and toll processing operations in Matehuala, Mexico.
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