Metals Update 12/8/2020

Globex cheers New Alger deal between Radisson, Renforth

Globex Mining Enterprises Inc. has noted that, yesterday, Radisson Mining Resources Inc. and Renforth Resources Inc. announced the acquisition by Radisson of 100-per-cent interest in Renforth’s New Alger gold mine property near Cadillac, Que. Under the agreement, Radisson will pay Renforth 12 million Radisson shares (current value: $4.32-million), pay $500,000 in cash, subscribe for 24 million Renforth shares as part of a $3.24-million charity flow-through private placement of Renforth shares and, in the future, potentially make $1.5-million in cash contingent payments.

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Cartier Resources closes $9.36M private placement

Cartier Resources Inc. has closed its previously announced private placement for aggregate gross proceeds of $9,364,626. A total of 21,778,200 flow-through common shares of the company at a price of 43 cents per share were issued. The offering was completed through Paradigm Capital Inc. In connection with the offering, the agent received a cash fee equal to 6 per cent of the gross proceeds of the offering and compensation options exercisable to acquire that number of common shares of the company equal to 6 per cent of the total number of shares issued and sold by the company pursuant to the offering at an exercise price of 43 cents for a period of 12 months.

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IsoEnergy closes $4-million private placement

IsoEnergy Ltd. has closed the previously announced $4-million non-brokered private placement consisting of 5,882,352 common shares at a price of 68 cents per share.

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Gold Terra appoints Siwanowicz to board

Gold Terra Resource Corp. has appointed Hellen Siwanowicz as a director of the company. Ms. Siwanowicz’s appointment brings the total number of directors serving on Gold Terra’s board to seven, including four independent, non-executive directors.

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Avino Silver loses $1.27-million (U.S.) in Q2

Avino Silver & Gold Mines Ltd. has released its consolidated financial results for the company’s second quarter ended June 30, 2020. The Financial Statements and Management’s Discussion and Analysis (MD&A) can be viewed on the Company’s web site at http://www.avino.com, on SEDAR at http://www.sedar.com and on EDGAR at http://www.sec.gov.

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Horizonte arranges $325M (U.S.) Araguaia financing

Horizonte Minerals PLC has executed a mandate to arrange a senior secured project finance facility of up to $325-million (U.S.) to finance the construction and development of its Araguaia ferronickel project in Brazil.

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Roscan drills 46.5 m of 6.15 g/t Au at Mankouke South

Roscan Gold Corp. has released positive diamond drill results from an additional 20 holes totalling 3,788 metres at its Mankouke South target. DDMan-20-54 intersected 6.15 grams per tonne over 46.5 metres from 118.5 m, which has increased the width of the mineralized zone to 125 m. Hole DDMan-20-61 intersected 2.76 g/t over six m including 9.55 g/t over one m in fresh rock and increases vertical depth of mineralization to 173 m.

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Fiore Gold drills 39.6 m of 0.6 g/t Au at Pan

Fiore Gold Ltd. has released the final results from the recently completed drill program at its Pan mine in Nevada. This drill program is part of a long-term program aimed at expanding the resource and reserve base and extending the mine life.

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Amerigo loses $3.6-million (U.S.) in Q2

Amerigo Resources Ltd. has released its financial results for the quarter ended June 30, 2020.

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Altus Strategies receives approval for Agdz EIA

Altus Strategies PLC is providing an update on the company’s 100-per-cent-owned Agdz silver and copper project located 14 kilometres southwest of the Bou Skour copper and silver mine in the eastern Anti-Atlas of Morocco.

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Lithium Chile receives TSX OK for Apollo JV deal

Lithium Chile Inc. has received Toronto Stock Exchange approval of the joint venture agreement with Apollo Gold Corp. on the Apolo and Sancarron prospects as announced in an Apollo Gold (formerly Inform Resources Corp.) press release dated April 2, 2020. The approval will allow for Apollo’s exploration program to commence as soon as possible and the second payment of $50,000 to be made to Lithium Chile.

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Abraplata begins phase 2 drilling at Diablillos

Abraplata Resource Corp. has commenced phase 2 drilling at its 100-per-cent-owned Diablillos silver-gold project, located in the mining-friendly Salta province of Argentina.

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