Market Update 20/7/2020

Fenixoro Gold receives DTC eligibility

Fenixoro Gold Corp.’s common shares are now eligible for electronic clearing and settlement through the Depository Trust Company in the United States. DTC is a subsidiary of the Depository Trust & Clearing Corp., a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be DTC eligible. DTC eligibility is expected to simplify the process of trading and enhance liquidity for the company’s common shares in the United States.

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Magna Gold investor Peal acquires 11 million shares

Peal Mexico SA de CV, on June 30, 2020, acquired 11 million common shares of Magna Gold Corp. under the terms of a settlement agreement between Peal and a subsidiary of Magna entered into to settle an existing arbitration proceeding between the parties in relation to Magna’s San Francisco gold mine located in Sonora, Mexico. The common shares were issued at a deemed price of 35 cents per share for aggregate deemed consideration of $3.85-million.

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Gold Terra Resource prospectus offering

Effective July 9, 2020, the company’s prospectus dated July 9, 2020, was filed with and accepted by the TSX Venture Exchange, and filed with and receipted by the British Columbia Securities Commission, pursuant to the provisions of the Securities Act (British Columbia). The receipt also evidenced that the Ontario Securities Commission has issued a receipt for the prospectus. The prospectus was filed under Multilateral Instrument 11-102, Passport System, in Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador, and a receipt for the prospectus is deemed to be issued by the regulator in each of those jurisdictions, if the conditions of the instrument have been satisfied.

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Highgold Mining agreement for Latimer property

The TSX Venture Exchange has accepted for filing an agreement of purchase and sale dated June 19, 2020, between Epica Gold Inc., a wholly owned subsidiary of Highgold Mining Inc., and W.D. Latimer Co. Ltd., whereby Epica will acquire the Latimer property, located in the district of Cochrane in Ontario. The vendor will retain a 1.5-per-cent net smelter return royalty, of which 1 per cent can be repurchased for $1-million cash. The acquisition of the Latimer property is being conducted concurrently with two other property acquisitions under a mineral property acquisition agreement dated June 19, 2020, with Glencore Canada Corp. and a property sale agreement dated June 17, 2020, with Northern Gold Mining Inc. in the area surrounding the company’s existing Munro-Croesus gold property and subject to net smelter return royalties. The company has agreed to issue an aggregate of 200,000 common shares and to make aggregate cash payments in the amount of $475,000 to the vendors of the three properties.

Magna Gold, Alio Gold property agreement

The TSX Venture Exchange has accepted for filing documentation pertaining to a share purchase agreement dated March 5, 2020, as amended on April 24, 2020, between the company and Timmins GoldCorp Mexico S.A. de C.V., a wholly owned subsidiary of Alio Gold Inc., to acquire the San Francisco mine, located in Sonora, Mexico, through the acquisition of Molimentales del Noroeste S.A. de C.V. (the target), a wholly owned subsidiary of Timmins.

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Radisson drills 32.3 m of 3.07 g/t Au at O’Brien

Radisson Mining Resources Inc. has released significant high-grade gold intercepts from the continuing 60,000-metre exploration drill program at its O’Brien gold project located along the Larder Lake Cadillac Break, halfway between Rouyn-Noranda and Val d’Or in Quebec, Canada. “Drill results continue to showcase significant upside to resources at the high-grade O’Brien project. The majority of current resources are contained within a 1.5-kilometre strike (out of a total strike length of 4.5 km) and 400 m vertical depth in a prolific gold camp where deposits (including the old O’Brien mine) have been mined to depths well below 1,000 m.

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Anaconda Mining produces 3,657 oz Au in Q2

Anaconda Mining Inc. has released production results and certain financial information from the three and six months ended June 30, 2020, as well as provided an update regarding the upcoming annual general and special meeting and a further update concerning the ongoing COVID-19 pandemic. All dollar amounts are in Canadian dollars. The Company expects to file its second quarter financial statements and management discussion and analysis on or around July 30, 2020.

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General Moly receives holder nod for share rollback

General Moly Inc. received stockholder approval for all proposals submitted to stockholders at the resumption its annual meeting of stockholders held on July 17, 2020, in Lakewood, Colo., following the adjournment of the annual meeting of stockholders on June 19, 2020.

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GR Silver drills 5.4 m of 1,112 g/t AgEq at Plomosas

GR Silver Mining Ltd. has released drill results at its 100-per-cent-owned Plomosas silver project, Plomosas mine area, in Sinaloa, Mexico.

These drill results highlight high-grade silver mineralized zones in a 50 m step out from a previously released section of drill hole results at the Plomosas Mine Area (Figure 1) (see News Release dated May 13, 2020 ). They confirm continuity of the silver mineralized system for at least 500 m along strike. They also extend the continuity of both mineralization styles, Ag-Au low sulphidation epithermal veins and polymetallic high-grade Ag-Pb-Zn hydrothermal breccias, up to 700 m down dip below the surface (Figure 2).

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Aurion outlines three possible Au zones at Kaaresselka

Aurion Resources Ltd. has provided the results of recent work completed to advance several targets on its wholly owned Risti property. Due to COVID-19 restrictions and the reduced field program at its properties in Finland, the company has been able to complete significant desktop data review and compilation on several targets highlighting their individual prospectivity and the overall district-scale potential of the Risti property.

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