Metals Update 07/12/2020

Azarga increases bought deal to $6-million

Azarga Uranium Corp. has amended the terms of its previously announced offering of units of the company. Under the amended terms of the offering (as defined herein), Haywood Securities Inc. and Eight Capital have agreed to purchase, on a bought deal basis, 30 million units of the company at a price of 20 cents per unit for gross proceeds to the company of $6-million.

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Fabled Copper closes acquisition of Santa Maria mine

Further to its news releases dated July 15, 2020, and Aug. 14, 2020, Fabled Copper Corp. has closed its previously announced acquisition of the Santa Maria mine in the state of Chihuahua, Mexico, and received the approval of the TSX Venture Exchange to the same.

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Dolly Varden Silver private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Oct. 22, 2020.

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Falco Resources $17,596,136 debenture private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement as announced in a news release dated Nov. 18, 2020.

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Canada Nickel files NI 43-101 report for Crawford

Canada Nickel Company Inc. has filed on SEDAR an independent technical report prepared in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects) supporting the mineral resource estimate for its 100-per-cent-owned Crawford nickel-cobalt sulphide project near Timmins, Ont., which was reported in the company’s news release dated Oct. 21, 2020. The mineral resource estimate, effective as of Oct. 18, 2020, was prepared following the CIM (Canadian Institute of Mining, Metallurgy and Petroleum) Definition Standards for Mineral Resources and Reserves (Nov. 29, 2019).

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American Creek has holder OK for spinout of Stinger

Further to the press release of Oct. 5, 2020, American Creek Resources Ltd. has received the requisite shareholder approval for the proposed spinout of the company’s Dunwell property, and other properties, assets and cash to its shareholders by way of a share capital reorganization effected through a statutory plan of arrangement.

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Northern Vertex Mining and Eclipse Gold Mining to Combine to Create New Western U.S. Gold Producer, Announce C$20 Million Financing

2020-12-07 03:01 ET – News Release

Northern Vertex Mining and Eclipse Gold Mining to Combine to Create New Western U.S. Gold Producer, Announce C$20 Million Financing

Summary:

  • Exploration driven value creation at the Moss Mine and Hercules Project.
  • Solid foundation of production and growing cash flow.
  • Strong pro-forma balance sheet with a cash position of ~C$29 million.
  • Optimization ongoing at the Moss Mine to enhance cash flows.
  • Combination of two highly capable leadership, operations and exploration teams.
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Northern Vertex, Eclipse Gold to merge

Northern Vertex Mining Corp. and Eclipse Gold Mining Corp. have entered into a definitive arrangement agreement to combine in an at-market merger, creating a new gold growth resource business focused on the Western United States. Northern Vertex will be the resulting company with offices in the United States and Canada.

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GR Silver testing results in 15,147 g/t Ag concentrate

GR Silver Mining Ltd. has provided positive preliminary metallurgical test work results after processing a 2,700-tonne bulk sample excavated from the San Juan area underground development — San Juan vein and breccia — at the Plomosas silver project, Sinaloa, Mexico.

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Osisko Metals drills 8.6 m of 15% Zn+Pb at Pine Point

Osisko Metals Inc. has provided results from the completed fall drill program at its 100-per-cent-owned Pine Point project, Northwest Territories. Assay results have been received from 15 exploration holes in the Central zone that tested gravity gradiometry anomalies as well as areas of unconstrained mineralization around the current resource block model.

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Noront forms partnership with Wyloo

Noront Resources Ltd. has welcomed its new cornerstone security holder, Wyloo Metals Pty. Ltd., which has entered into an agreement to acquire the beneficial equity and debt interests previously held by Resource Capital Fund V LP.

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Dolly Varden acquires Alice Arm surface rights

Dolly Varden Silver Corp. has acquired surface rights and fee-simple lands within the community of Alice Arm located on the Pacific Ocean in northwest British Columbia, in support of exploration infrastructure. The town of Alice Arm was originally developed in the early 1900’s to support silver mining in the area.

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Atico arranges $6.5M (U.S.) financing with Dundee

Atico Mining Corp. has entered into a subscription agreement with Dundee Corp. with respect to the issuance of unsecured convertible debentures of the company for gross proceeds of $6.5-million (U.S.).

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Victory Metals arranges $8-million private placement

Victory Metals Inc. has arranged a non-brokered private placement financing of at least 14,545,455 subscription receipts of Victory Metals. The subscription receipts will be issued at a price of 55 cents per subscription receipt for aggregate gross proceeds of at least $8-million.

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Plateau issues 52,006 shares to Foxrock

Plateau Energy Metals Inc. is issuing 52,006 common shares pursuant to the shares-for-services agreement with Foxrock Investment Ltd. (an arm’s-length party), previously approved by the TSX Venture Exchange, for services provided during the three months ended Nov. 30, 2020.

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Maple Gold Mines arranges $10-million bought deal

Maple Gold Mines Ltd. has entered into an agreement with BMO Capital Markets, under which the underwriter has agreed to buy, on bought deal basis, 27.8 million common shares of the company at a price of 36 cents per common share for gross proceeds of approximately $10-million. The company has also granted the underwriter an option, exercisable, in whole or in part, 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 offering is expected to close on or about Dec. 30, 2020, and is subject to Maple Gold receiving all necessary regulatory approvals.

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Abraplata drills 83 m of 398 g/t AgEq at Diablillos

Abraplata Resource Corp. has released significant high-grade assay results from diamond drill hole DDH 20-009 completed at the Oculto deposit, located on its wholly owned Diablillos in Salta province, Argentina. The hole was designed to test extensions beyond the current mineral resource.

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