Metals Update 16/12/2020

Bonterra closes $2.72M final tranche of financing

Bonterra Resources Inc. has closed the second and final tranche of the non-brokered private placement previously announced on Nov. 23, 2020, Dec. 3, 2020, and first tranche closing on Dec. 9, 2020. In the final tranche, the company raised aggregate gross proceeds of $2,729,625 from the sale of 2,373,587 common shares of the company at a price of $1.15 per share. The total number of shares sold in the offering was 13,043,478 for aggregate gross proceeds for all tranches of $15-million. The company is pleased to have received significant support and participation from its existing shareholders in the offering, including Wexford Capital LP, Ruffer LLP and CDPQ Sodemex Inc.

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Santazcruz Silver unit extends lease on Zimapan mine

Santacruz Silver Mining Ltd.’s wholly owned subsidiary, Carrizal Mining SA de CV, has reached an agreement with Minera Cedros SA de CV, a wholly owned subsidiary of Industrias Penoles SAB de CV, to extend the current mine lease on the Zimapan mine from Dec. 31, 2020, to June 30, 2021.

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Victory Metals firms up merger with Nevada King Mining

Victory Metals Inc. and Nevada King Mining Ltd., a private British Columbia company, have entered into a definitive arrangement agreement dated Dec. 14, 2020, with respect to their previously announced merger-of-equals transaction.

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GoviEX samples up to 1.16 g/t Au at Falea

GoviEX Uranium Inc. has released positive results following the core sampling and geophysics program completed on the company’s polymetallic Falea project in Mali.

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FPX Nickel reviews 2020, talks 2021 outlook

FPX Nickel Corp. has provided a year-end review of the company’s accomplishments in 2020 that provide a strong foundation for increased activities in 2021.

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Bonterra Resources 13,043,478-share private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Nov. 23, 2020, and Dec. 3, 2020.

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Eclipse Gold amends $20-million private placement

Eclipse Gold Mining Corp., further to its press release dated Dec. 8, 2020, has amended the terms of the best-efforts private placement financing for minimum gross proceeds of $20-million, being conducted by a syndicate of agents led by Stifel GMP, and including Canaccord Genuity Corp., Raymond James Ltd., Beacon Securities Limited and PI Financial Corp. The offering is in connection with the proposed plan of arrangement transaction (the “Transaction”) between Northern Vertex Mining Corp. (“Northern Vertex”) and Eclipse that was announced on December 8 th, 2020.

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Generation drills 92 m of 1.41 g/t PdEq at Marathon

Generation Mining Ltd. has released additional results from its 12-hole, 5,068-metre exploration drill program focused on the downdip western extension of the W horizon portion of the Marathon palladium deposit, which is currently the subject of a feasibility study.

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Serengeti drills 698 m of 0.8% CuEq at Kwanika

Serengeti Resources Inc. has released the first batch of assay results from the 2020 drilling campaign completed at the Kwanika project in north-central B.C. A total of 4,350 metres were drilled in 9 holes testing a number of exploration targets and resource expansion opportunities. The advanced resource-stage Kwanika project is ~26,000 hectares, held by Kwanika Copper Corporation (KCC)*, and is located in the Quesnel Trough of British Columbia which hosts numerous porphyry copper-gold deposits.

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Cantex Commences Drilling Nevada Gold Properties

KELOWNA, BC, Dec. 16, 2020 /CNW/ – Cantex Mine Development Corp. (TSXV: CD) (the “Company”) has commenced drilling on its wholly owned Baxter Springs East property in Nevada.

Dr. Chuck Fipke reports


  • Drilling has commenced on Baxter Springs East
  • Three additional properties also ready to drill
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American Creek’s JV Partner Tudor Gold Intersects 1.215 gpt AuEq over 354.0 Meters Within 1225.5 Meters of 0.702 gpt AuEq (Hole GS-20-94)

1.078 gpt AuEq over 345.0 Meters Within 921.0 Meters of 0.821 gpt AuEq (Hole GS-20-83) at the Goldstorm Zone, Treaty Creek, Located in B.C.’s Golden Triangle

Cardston, Alberta–(Newsfile Corp. – December 16, 2020) – American Creek Resources Ltd. (TSXV: AMK) (“the Corporation”) is pleased to present results for the fifth set of diamond drill holes for the Goldstorm Zone at their flagship property, Treaty Creek. The project is located in the heart of the Golden Triangle of northwestern British Columbia and is on-trend from Seabridge’s KSM Project located five kilometers southwest of the Goldstorm Zone.

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Canada Nickel signs MOU with Taykwa Tagamou Nation

Canada Nickel Company Inc. has signed a memorandum of understanding with Taykwa Tagamou Nation (TTN), with the objective of establishing a long-term, mutually beneficial business relationship.

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Freeman Gold drills 7,149 metres at Lemhi

Freeman Gold Corp. has provided an update on its 100-per-cent-owned Lemhi gold project, located in Idaho, United States.

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