Market Update 21/7/2020

Prime Mining closes Los Reyes project acquisition

Prime Mining Corp. has completed the acquisition of the Los Reyes gold and silver property in Sinaloa, Mexico, with a payment of $1.5-million (U.S.) to Vista Gold Inc., which was made on July 17, 2020. With this payment, Vista no longer retains two separate 2-per-cent net smelter royalties on production from open-pit or underground mining or a back-in right to assume a 49-per-cent non-carried interest in any underground mining at Los Reyes. Prime is required to pay Vista an additional $2.1-million (U.S.) through two payments of: (i) $1.1-million (U.S.) no later than six months from the acquisition date; and (ii) $1-million (U.S.) no later than 12 months from the acquisition date. If the company fails to make the two payments, Vista’s net smelter royalties and back-in right will be reinstated.

Read More

http://www.primeminingcorp.ca/

Atico Mining drills 1.31 m of 32.9 g/t Au at La Plata

Atico Mining Corp. has provided an update on three holes from its continuing drill program at the La Plata precious-metal-rich volcanogenic massive sulphide (VMS) project in Ecuador. These three holes are designed to target the south block to test for possible continuity as well as mineralization outside of the known envelope.

Read More

http://www.aticomining.com/

Revival Gold arranges $10-million bought deal offering

Revival Gold Inc. has entered into an agreement with BMO Capital Markets, under which BMO has agreed to buy on a bought deal basis 9.1 million units at a price of $1.10 per unit for gross proceeds of approximately $10-million. Each unit consists of one common share of Revival Gold and one-half of one common share purchase warrant of Revival Gold. Each full warrant will entitle the holder thereof to purchase one common share of the company at a price of $1.60 per common share, for a period of 18 months following the closing date. The company has granted the underwriter an option, exercisable at the offering price for a period of 30 days following the closing of the offering, to purchase up to an additional 15 per cent of the offering to cover overallotments, if any. The underwriter can elect to exercise the overallotment option for units only, common shares only, or warrants only, or any combination thereof. The offering is expected to close on or about Aug. 6, 2020, and is subject to Revival Gold receiving all necessary regulatory approvals.

Read More

http://www.revival-gold.com/

Erdene releases BFS for Bayan Khundii

Erdene Resource Development Corp. has released the results of an independent bankable feasibility study (BFS) for its 100-per-cent-owned, high-grade, open-pit Bayan Khundii gold project in southwest Mongolia. The independent BFS was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and has incorporated detailed mine design and scheduling, front-end engineering design for the processing plant and site infrastructure, a hydrogeological assessment, mineral waste facility design, comprehensive capital and operating cost estimation, and an updated economic model. These studies have been completed by a consortium of International and Mongolian firms with significant experience operating in Mongolia and internationally. The Technical Report, prepared by the Roma Group Ltd, pursuant to NI 43-101 guidelines, will be filed on SEDAR within 45 days.

Read More

http://www.erdene.com/

Abraplata increases Diablillos drilling to 8,000 m

Abraplata Resource Corp. has increased its continuing 2020 exploration program at the company’s 100-per-cent-owned Diablillos silver-gold project with an additional 5,000 metres of diamond drilling planned. The expanded exploration program will increase the planned drilling for the 2019-2020 program to total approximately 8,000 metres in approximately 17 diamond drill holes.

Read More

http://www.abraplata.com/

Granada Gold, Canada Silver property agreement

The TSX Venture Exchange has accepted for filing documentation relating to the sale from Granada Gold Mine Inc. to Canada Silver Cobalt Works Inc. of a back-in option on five mining leases forming part of the Castle Silver cobalt mine property in Ontario. As consideration, Canada Silver issued 2,941,000 common shares and 2,941,000 common share purchase warrants to Granada Gold. Each warrant will entitle Granada Gold to acquire one additional common share of Canada Silver for 55 cents for a period of five years. The shares and warrants issued by Canada Silver to Granada Gold are subject to a four-month hold period under applicable securities regulations and the policies of the TSX Venture Exchange. The TSX Venture Exchange has been advised that closing of the purchase and sale occurred on July 13, 2020.

Read More

http://www.canadacobaltworks.com/

Treasury owns 10.63% of Platinex’s shares

Treasury Metals Inc.’s ownership of securities of Platinex Inc. has been increased to approximately 10.633 per cent of Platinex’s issued and outstanding share capital, as a result of common shares and warrants received as consideration pursuant to a purchase agreement.

Read More

http://www.treasurymetals.com/

Superior Gold releases NI 43-101 Plutonic estimate

Superior Gold Inc. has provided updated mineral reserve and mineral resource estimates as at Dec. 31, 2019, for its Plutonic gold operations located in Western Australia, which comprise the 100-per-cent-owned Plutonic underground gold mine and 100-per-cent-owned Hermes open-pit gold project, along with the company’s interest in the Bryah basin joint venture. (In US Dollars unless otherwise stated)

Read More

http://superior-gold.com/

Troilus Gold expands Troilus to 107,326 ha

Through acquisition and staking Troilus Gold Corp. has added 422 new claims to the Troilus property, expanding the land position by 23,005 hectares to a total area of 107,326 hectares.

Troilus CEO Justin Reid commented, “In April, we acquired 627 claims from O3 Mining Inc. and staked another 629 new claims, making us the largest claim holder in the Frotet-Evans Greenstone Belt (see press release dated April 28, 2020) with the addition of more than 67,000 hectares to our property. These new acquisitions, coupled with additional staking by our team, further consolidates our position at a minimal cost to shareholders. Our geological team has already been in the field accessing the newly acquired area in April and we believe the ground picked up as part of today’s announcement further add to the potential we hope to uncover in this underexplored area. In addition, we have completed a non-cash buy back and cancellation of a 1.5% NSR on the Troilus North claims which we acquired from EmGold in late 2018, an area that we expect to be a major exploration focus this year.”

Read More

http://www.troilusgold.com/

Anaconda starts 10,000 m drill program at Tilt Cove

Anaconda Mining Inc. has initiated a 35-line-kilometre geophysical survey and 10,000-metre diamond drill program at the Tilt Cove gold project, located within the Baie Verte mining district in Newfoundland, approximately 45 kilometres by road from the company’s Pine Cove mill and tailings facility. Tilt Cove is a significant, recently consolidated land package encompassing the same geological trend as the past producing, high-grade Nugget Pond mine, which had an average recovered grade of 9.85 grams per tonne (g/t) gold. Tilt Cove covers a 20-kilometre strike extent of the Betts Cove complex, a highly prospective geological terrane including the Nugget Pond horizon (NPH), the iron-rich sedimentary unit that hosts the past producing Nugget Pond mine.

Read More

http://www.anacondamining.com/

Galway Metals to buy back 2% NSR on Clarence Stream

Galway Metals Inc. has entered into an agreement with an arm’s-length third party royalty holder to buy back a 2-per-cent net smelter returns royalty covering certain mineral claims at the company’s Clarence Stream property in southwest New Brunswick. The mineral claims fully cover the South, North and George Murphy zones, the gap area between the George Murphy and Richard Zones, and potential extensions to these zones and other prospective targets. The purchase of the royalty was closed effective today pursuant to an agreement dated July 15, 2020.

Read More

http://www.galwaymetalsinc.com/

Brixton drills 0.97 m of 1,885 g/t Ag at Hog Heaven

Brixton Metals Corp. has provided final drill results from its maiden drill program at is wholly owned Hog Heaven project, which returned multiple significant intervals of high-grade silver, gold and copper mineralization. A total of seven holes representing 1,400.35m were drilled of HQ sized core.

Read More

http://www.brixtonmetals.com/

Leave a Reply