Metals Update 17/9/2020

Bonterra Res begins processing work at Bachelor mill

Bonterra Resources Inc. has started processing material at the Bachelor mill.

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Eskay Mining private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced July 28, 2020.

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Oroco Resource 12.1-million-share private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 14, 2020.

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Southern Silver 1.2-million-share private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Aug. 28, 2020.

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Int’l Speculator downgrades Atico to hold from buy

The International Speculator, in its Aug. 27, 2020, issue, downgrades Atico Mining Corp. (recently 57 cents) to “hold” from “buy.” The newsletter said buy 10 times between Nov. 8, 2013, and June 24, 2020, at prices ranging from 25 cents to 77 cents. Assuming an investment of $1,000 for each of the 10 buys, the $10,000 holding is worth $12,795. The advice to buy comes without elaboration. The writer explains that investors got a “nice bonus” on Aug. 5 in the form of strong gold drilling results. The original reason for recommending Atico was its El Roble copper mine in Colombia, but the company is also advancing a gold-sliver project in Ecuador called La Plata. The headline intercept was 6.8 metres grading 19.5 grams per tonne gold and 224 g/t silver (along with 12.2 per cent copper and 3.7 per cent zinc). He says that this high-grade hit shows good potential to expand the existing La Plata mineral resource. Atico is continuing drilling here, ahead of updating the resource calculation and moving toward mine planning. The writer dangles the possibility of more good drill holes over the coming weeks.

Altus to sell two projects to Stellar AfricaGold

Altus Strategies PLC has signed a definitive purchase and sales agreement and net smelter return royalty agreements with TSX Venture Exchange-listed Stellar AfricaGold Inc. in respect of Altus’s Prikro and Zenoula gold projects located in Ivory Coast.

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GR Silver drills 5.1 m of 19.2 g/t Au at Plomosas

GR Silver Mining Ltd. has released drill results from the company’s recently announced surface core drilling program in the Plomosas mine area as well as results from the continuing validation of historic drilling at its 100-per-cent-owned Plomosas silver project in Sinaloa, Mexico.

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Victory Metals arranges $2-million private placement

Victory Metals Inc. intends to complete a non-brokered private placement offering for proceeds up to $2-million through the issuance of up to five million common shares in the capital of the company at a price of 40 cents per share.

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Globex Mining acquires 14 claims in New Brunswick

Globex Mining Enterprises Inc. has acquired 15 claims 20 kilometres north-northeast of Hartland, N.B., in Carleton county, covering the Grassville South manganese zone.

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Southern Silver closes CLM deal, financings

Southern Silver Exploration Corp. has closed the transaction with Electrum Global Holdings LP to acquire Electrum’s 60-per-cent indirect working interest (for a total 100-per-cent interest) in the Cerro Las Minitas (CLM) project located in Durango, Mexico. As consideration for the acquisition, Southern Silver must pay Electrum an aggregate $15-million (U.S.) in a combination of cash and common shares, of which $5-million (U.S.) and 2,336,590 common shares (valued at $1,006,403 (U.S.), which, together with a credit of $1.35-million deposit paid, represents the $2-million (U.S.) share-equivalent payment) have now been paid. The remaining consideration must be paid on or before:

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Allegiant optionee drills 38.1 m of 1.08 g/t Au at Bolo

Allegiant Gold Ltd. has released New Placer Dome Gold Corp.’s drilling results for the first reverse circulation (RC) drill hole at Allegiant’s 100-per-cent-owned, Carlin-style Bolo gold-silver project in Nevada. New Placer can earn an initial 50.01-per-cent interest in Bolo by making share payments to Allegiant totalling $1-million (U.S.) and completing $4-million (U.S.) in exploration expenditures.

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Aftermath pegs Cachinal at 5 Mt of 101 g/t Ag indicated

Aftermath Silver Ltd. has provided the results of a CIM-compliant mineral resource estimate for the Cachinal silver-gold project in Chile, summarized in the included table.

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Defiance Silver closes $10-million private placement

Defiance Silver Corp. has closed the previously announced brokered private placement of 29,415,000 units at a price of 34 cents per unit , which includes 8,825,000 units issued pursuant to the exercise in full of the agents’ overallotment option, for gross proceeds totalling $10,001,100. The offering was led by Red Cloud Securities Inc. and included Canaccord Genuity Corp.

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Aftermath Silver 26,362,442-share private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Aug. 27, 2020, and further amended on Aug. 28, 2020.

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IsoEnergy drills nine m of 12.8% U3O8 at Larocque East

IsoEnergy Ltd. has released additional intersections of strong radioactivity and initial chemical assays from the continuing summer drilling program at the Hurricane zone. The Hurricane zone is a recent discovery of high-grade uranium mineralization on the Company’s 100% owned Larocque East property (the “Property”) in the Eastern Athabasca Basin of Saskatchewan (Figure 1).

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QMX drills 78.5 m of 1.7 g/t Au at Bonnefond

QMX Gold Corp. has released assay results from 17 drill holes on the Bonnefond deposit. These results expand the Bonnefond footprint both to the East and West of the intrusive. The Bonnefond Deposit is located in the Val d’Or East Zone of QMX’s extensive land package in Val d’Or, Quebec (Figure 3).

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American Manganese to review Artillery Peak

The renewed interest in manganese compels American Manganese Inc. to reanalyze its Artillery Peak low-grade manganese project. This entails studies of the 2012 prefeasibility study prepared by Tetra-Tech for the production of electrolytic manganese metal (EMM); it also entails studies on the production of high-purity working electrolytic manganese dioxide (EMD) prototype lithium-ion batteries by Kemetco Research Inc. The U.S. patents for this process were granted to the company on June 11, 2013, which would later become the cornerstone of American Manganese’s lithium-ion battery material recycling patents. The manganese patent was also granted in China, South Africa and Canada.

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Excellon releases NI 43-101 Evolucion resource estimate

Excellon Resources Inc. has provided an updated mineral resource estimate (MRE) for the Calvario and Lechuzas zones on the Evolucion project in Zacatecas, Mexico, as at July 31, 2020.

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Altus director Poulton acquires 43,000 shares

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Magna PFS pegs San Fran at $80M (U.S.) after-tax NPV

Magna Gold Corp. has provided the results from the prefeasibility study (PFS) completed on its 100-per-cent-owned San Francisco mine located in Sonora, Mexico.

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Aquila Resources files Back Forty report on SEDAR

Aquila Resources Inc. has filed the technical report supporting the positive preliminary economic assessment (PEA) for the company’s 100-per-cent-owned Back Forty project, located in Michigan, United States. The PEA was prepared in accordance with National Instrument 43-101 by P&E Mining Consultants Inc. in collaboration with Golder Associates Ltd. and Lycopodium Minerals Canada Ltd.

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Lithium Chile samples up to 21.4 g/t Au at Carmona

Lithium Chile Inc. has received assay results from the second set of samples taken from its 100-per-cent-owned Carmona gold and silver property. These assay results are from samples taken on additional claims recently staked which are adjacent to the Company’s existing Carmona claims. The highlights are as follows:Assays are from initial reconnaissance rock and sediment sampling eight kilometers west of the main Carmona claims on the newly acquired Carmona-Garillas claims block.Assays results from rock chip samples range from 1.4 – 21.4 g/tonne gold and 3 – 329 g/tonne of silver.The area of the claims sampled to date covers a three-square km zone of hydrothermal alteration containing gold-silver rich veins and breccia zones hosting several active artisanal workings.

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American Manganese to review Artillery Peak

The renewed interest in manganese compels American Manganese Inc. to reanalyze its Artillery Peak low-grade manganese project. This entails studies of the 2012 prefeasibility study prepared by Tetra-Tech for the production of electrolytic manganese metal (EMM); it also entails studies on the production of high-purity working electrolytic manganese dioxide (EMD) prototype lithium-ion batteries by Kemetco Research Inc. The U.S. patents for this process were granted to the company on June 11, 2013, which would later become the cornerstone of American Manganese’s lithium-ion battery material recycling patents. The manganese patent was also granted in China, South Africa and Canada.

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