Metals Update 28/7/2020

Cantex Mine arranges $5-million private placement

Cantex Mine Development Corp. will undertake a non-brokered private placement to raise gross proceeds of up to $5-million.

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Metallic Minerals increases bought deal to $8-million

Metallic Minerals Corp. has amended the terms of its previously announced offering of units. Under the amended terms of the offering (as defined herein), Canaccord Genuity Corp., as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, including Red Cloud Services Inc. and Mackie Research Capital Corp., has agreed to purchase, on a bought deal private placement basis, 20 million units of the company at a price of 40 cents per unit for gross proceeds of $8-million. There will no longer be an option for the underwriters to increase the size of the offering.

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http://www.metallic-minerals.com/

American Creek talks Tudor’s Treaty Creek drill results

AMERICAN CREEK’S JV PARTNER TUDOR GOLD DRILLS NEAR-SURFACE INTERCEPT AT TREATY CREEK PROPERTY AVERAGING 2.120 GPT AUEQ OVER 348 METERS WITHIN A 930 METERS INTERCEPT AVERAGING 1.161 GPT AUEQ IN HOLE GS-20-65

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http://www.americancreek.com/

Aftermath Silver to acquire Berenguela

Aftermath Silver Ltd. has entered into a binding letter of intent (LOI) with SSR Mining Inc. (SSRM) to purchase 100 per cent of the Berenguela silver-copper project located in Puno, Peru, through the purchase of 100 per cent of SSRM’s shares in Peruvian holding company Sociedad Minera Berenguela SA.

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http://aftermathsilver.com/

Moneta Porcupine investor K2 ceases to be insider

The K2 Principal Fund LP, effective July 24, 2020, ceases to be an insider on Moneta Porcupine Mines Inc. On July 24, 2020, Moneta closed a financing of 15,036,486 common shares at 14 cents and 19,997,662 common shares at 21 cents on a flow-through basis.

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http://www.monetaporcupine.com

Dolly Varden arranges $7.5-million private placement

Dolly Varden Silver Corp. has entered into an agreement with Mackie Research Capital Corp., as co-lead agent and sole bookrunner, along with Eventus Capital Corp., as co-lead agent, in connection with a best-efforts, brokered private placement of units of the company at a price of 71 cents per unit for gross proceeds of up to $7.5-million. Continuing with his support of Dolly Varden, Eric Sprott is expected to subscribe into the offering to maintain his 19.9-per-cent interest.

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http://www.dollyvardensilver.com/

QMX Gold drills 5.6 m of 29.38 g/t Au at Bonnefond

QMX Gold Corp. has released additional assay results from the winter 2020 drilling program from the Bonnefond deposit. The Bonnefond Deposit is located in the Val d’Or East Zone of QMX’s extensive land package in Val d’Or, Quebec (Figure 2).

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http://www.qmxgold.ca/

Nighthawk releases NI 43-101 estimate on Colomac

Nighthawk Gold Corp. has released an updated mineral resource estimate on the 100-per-cent-owned Indin Lake gold property (2020 MRE), Northwest Territories, Canada, which includes an updated resource estimate for the Colomac gold project, as well as an initial mineral resource estimate on the Damoti Lake gold project, based on a gold price of $1,425 (U.S.). The 2020 Colomac MRE incorporates 924 drill holes totaling 177,598 metres that defines open pit and underground resources and outlines 25.89 million tonnes ("Mt") at an average grade of 2.01 grams per tonne gold ("gpt", "Au") for 1.67 million ounces ("Moz") of Indicated Resources and 5.71 Mt at an average grade of 2.03 gpt Au for 0.37 Moz of Inferred Resources (Table 1). The Damoti MRE is based on 266 drill holes totaling 33,433 metres and outlines 0.74 Mt at an average grade of 4.97 gpt Au for 0.12 Moz of Inferred Resources (Table 2). The 2020 MRE was prepared by InnovExplo Inc. ("InnovExplo"), an independent firm based in Val-d’Or, Quebec, in accordance with National Instrument 43-101 ("NI 43-101").

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https://www.nighthawkgold.com/news

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