Metals Update 11/8/2020

Abcourt Mines produces 12,794 oz Au in 12 months

Abcourt Mines Inc. has released good results for the fourth quarter and the 12-month period ended on June 30, 2020. As indicated previously, the Elder mine was closed for almost one month due to Covid-19. During the closing, some of the gold contained in the mill circuit was used to pay for mine expenses. When the mine was re-opened, the first thing to do was to refill the mill circuit.

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Santacruz Silver produces 709,765 oz AgEq in Q2

Santacruz Silver Mining Ltd.’s production in the second quarter of 2020 was 709,765 silver equivalent ounces, representing a 105-per-cent increase compared with Q2 2019 and a 27-per-cent decrease compared with Q1 2020. Both Q2 2020 and Q1 2020 production results include 100% of the Zimapan Mine’s quarterly production whereas the Q2 2019 results do not include any production from the Zimapan Mine given Santacruz acquired its initial interest in PCG Mining, S.A. de C.V. on July 1, 2019 and did not complete the acquisition of the final 50% of PCG Mining until October 4, 2019 (see press releases dated July 2 and October 7, 2019).

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Revival Gold resumes drilling at Beartrack-Arnett

Revival Gold Inc. has resumed drilling at its Beartrack-Arnett gold project located in Lemhi county, Idaho.

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Hudson grants options to buy 4.28 million shares

Hudson Resources Inc. has granted incentive stock options under the company’s stock option plan to directors and employees to purchase a total of 4.28 million shares at a price of 15 cents per share. The option price is at an approximate 50-per-cent premium to the 10-day volume-traded-weighted average of the stock on the TSX Venture Exchange. The options are exercisable for a period of five years, subject to the policies of the TSX-V.

Globex Mining sells 3 projects for $150K, Starr shares

Globex Mining Enterprises Inc. has sold its 100-per-cent interests in the Normetal/Normetmar copper/zinc/silver property, the Rousseau gold project and the Turgeon Lake gold property, all located in Northern Quebec, to Starr Peak Exploration Ltd.

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Kerr Mines closes $5-million bought deal

Kerr Mines Inc. has closed its previously announced bought deal financing for aggregate gross proceeds of $5,000,800. Pursuant to the offering, the company issued a total of 35.72 million units of the company at a price of 14 cents per unit. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share at a price of 22 cents for a period of 24 months. Haywood Securities Inc. acted as sole underwriter for the offering.

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Maple Gold closes $750,000 final tranche of placement

Maple Gold Mines Ltd. has closed the second and final $750,000 tranche from its previously announced non-brokered private placement for total gross proceeds of $4.75-million from both tranches.

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Arizona Metals drills 137 m of 0.53 g/t Au at Sugarloaf

Arizona Metals Corp. has released results from the first drill hole from its recently completed 1,748-metre drill program at its Sugarloaf Peak project in La Paz county, Arizona.

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Superior Gold loses $400,000 (U.S.) in Q2

Superior Gold Inc. has released its financial and operating results for the second quarter 2020. This release should be read in conjunction with the Company’s Management Discussion and Analysis (“MD&A”) and consolidated financial statements for the quarter ended June 30, 2020. These documents will be posted on the Company’s website at http://www.superior-gold.com and SEDAR at http://www.sedar.com. (In US Dollars unless otherwise stated)

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Golden Minerals drills 23.4 m of 5.96 g/t Au at Rodeo

Golden Minerals Company has received positive assay results from the first nine diamond drill holes of its infill resource definition drill program at the Rodeo gold-silver project located in Durango state, Mexico.

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GR Silver drills 6.8 m of 1,687 g/t AgEq at Plomosas

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

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Eloro unit completes three drill bays at Iska Iska

Eloro Resources Ltd.’s Bolivian subsidiary, Minera Tupiza SRL, has completed the three underground drill bays in the Huayra Kasa mine required for the planned 3,500-metre underground diamond drilling program on its optioned Iska Iska polymetallic project in Potosi department, southern Bolivia. The Company and contractor Empresa Minera Villegas S.R.L. have implemented safeguards to protect personnel from COVID-19. Minera Tupiza S.R.L. has received clearance from the Government of Bolivia for travel to Tupiza. Drilling will be carried out by Leduc Drilling S.R.L. and is expected to commence in early September. All workings will be systematically geologically mapped and channel sampled prior to commencement of the drill program.

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Azarga receives $1M (U.S.) loan from minority holders

Azarga Uranium Corp. has secured the capital necessary to finance the financial assurance bonds for the company’s Class III and Class V underground injection control (UIC) permits at its initial development priority, the Dewey Burdock in situ recovery uranium project in South Dakota. Financing the financial assurance bonds is required before the Environmental Protection Agency can issue the final permits.

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