Metals Update 17/12/2020

Cantex Mine begins drilling Baxter Springs East

Cantex Mine Development Corp. has commenced drilling on its wholly owned Baxter Springs East property in Nevada.

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Am Creek JV drills 354 m of 1.215 g/t AuEq at Treaty

American Creek Resources Ltd. joint venture partner Tudor Gold Corp. has released results for the fifth set of diamond drill holes for the Goldstorm zone at its 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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American Manganese closes $125,040 private placement

American Manganese Inc. has closed a non-brokered private placement of 521,000 flow-through units for gross proceeds of $125,040. Each flow-through unit consists of one flow-through common share of American Manganese and one warrant. Each warrant will be exercisable for one common share at a price of 30 cents per common share for a period of two years from the warrant’s issuance date.

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Southern Silver drills 28.5 m of 36 g/t Ag at Cerro

Southern Silver Exploration Corp. has released further assay results from its 10,000-metre 2020 to 2021 core drilling program on the Cerro Las Minitas project, Durango state, Mexico. These early results from the Mina La Bocona target include a near-surface interval of strongly gold-enriched oxidized mineralization and a deeper polymetallic sulphide zone from hole 20CLM-125 which returned:

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Sirios Resources closes $3.43-million private placement

Sirios Resources Inc. has completed the second and final tranche of its previously announced non-brokered private placement for additional gross proceeds of $2,045,200. The aggregate gross proceeds of the offering, including proceeds from the first tranche, previously closed on Dec. 11, 2020, are $3,430,590. In connection with this offering, the corporation issued (i) 7,395,556 additional Quebec flow-through units of the corporation at a price of 18 cents per Quebec FT unit, for an amount of $1,331,200, and (ii) 4.2 million additional national flow-through units of the corporation at a price of 17 cents per national FT unit, for an amount of $714,000.

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

Atico Mining Corp. has closed its private placement 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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Troilus Gold shareholders elect eight directors

The nominees listed in the management information circular dated Nov. 9, 2020, for the annual general and special meeting of shareholders of Troilus Gold Corp. have been elected as directors of the company. Over 61% of all of the issued and outstanding shares of the Company were represented at the Meeting.

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Canada Nickel identifies North zone at Crawford

Canada Nickel Company Inc. has made its fourth new discovery — North zone — at its Crawford nickel-cobalt sulphide project from the first two drill holes. The assays from the North zone are pending.

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Fiore Gold earns $17.95-million (U.S.) in fiscal 2020

Fiore Gold Ltd. has released its financial statements and management’s discussion and analysis for the fiscal year ended Sept. 30, 2020, on SEDAR and on the company’s website.

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Mtn Province sells $80.2-million in diamonds in Q4

Mountain Province Diamonds Inc. has provided the results of the fourth-quarter diamond sales.

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Eloro Resources files prospectus for $5.5M bought deal

In connection with its previously announced bought deal financing (see Eloro press releases dated Dec. 9, 2020), Eloro Resources Ltd. has filed a preliminary short form prospectus with the applicable securities regulators in each of the provinces of Canada, except Quebec. Under the terms of the financing, Haywood Securities Inc., as lead underwriter, and Echelon Wealth Partners Inc. have agreed to purchase, on a bought deal basis, 3,548,400 units at a price of $1.55 per unit for gross proceeds to the company of $5,500,020.

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Plateau Energy 52,006 shares for debt

The TSX Venture Exchange has accepted for filing the company’s proposal to issue 52,006 common shares to settle outstanding debt for $13,830.

Number of creditors:  one creditor

For more information, please refer to the company’s news release dated Dec. 7, 2020.

Norzinc finds Au in Prairie Creek core samples

Norzinc Ltd. has recently undertaken an investigative analysis of drill core samples from its 2020 surface drill program, hole PC-20-225. The intent of this analysis was to identify possible additional metal opportunities that have not been reassessed since the standard Prairie Creek assay suite was defined in 1993 and which did not include assaying for gold.

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Canada Silver drills 2.86 m of 3.82 g/t Au at Castle

Canada Silver Cobalt Works Inc. has intersected high-grade gold mineralization with cobalt within the high-grade silver-cobalt-mineralized vein structures at the Castle property. Drilling continues around the clock, seven days a week with two drills. A 50,000-metre drill program is in place of which 18,000 metres have been completed.

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FenixOro Intercepts 71 g/t Gold and Discovers Multiple New Gold Bearing Veins at Abriaqui

TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) — FenixOro Gold Corp (CSE:FENX, OTCQB:FDVXF, Frankfurt:8FD) is pleased to announce additional high grade intercepts and the discovery of new, previously unknown gold bearing veins at the early stage Abriaqui Project in Antioquia State, Colombia. These assays represent additional results from hole P001001 and preliminary results from holes P002001, P003002 and P004002. Highlights include:

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Cantex Intersects 23.67 Metre Zone Containing Massive Sulphides at 700 Metres Depth at North Rackla

KELOWNA, BC, Dec. 17, 2020 /CNW/ – Cantex Mine Development Corp. (CD: TSXV) (the “Company”) has released an update on the work program at its 14,077 hectare North Rackla claim block where drill results continue to define a lead-zinc-silver mineralized system with Broken Hill Type (BHT) affinities.

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HPQ NANO Reaches Major Milestones With Gen 1 Nano Silicon Reactor Operational

MONTREAL, Dec. 17, 2020 (GLOBE NEWSWIRE) — Innovative silicon solutions provider HPQ Silicon Resources Inc. (“HPQ” or “the Company”) (TSX-V: HPQFWB: UGE;Other OTC : URAGF), through its wholly – owned subsidiary, HPQ Nano Silicon Powders inc (“HPQ NANO”), is pleased to announce today that technology provider PyroGenesis Canada Inc.(TSX: PYR) has informed HPQ NANO that phase 1 of the PUREVAPTM Nano Silicon Reactor (“NSiR”) development program has reached the commissioning stage, with the Gen1 PUREVAPTMNSiR now ready to start producing Silicon nano materials.

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Defiance Silver unit acquires royalty option on Tepal

Geologix Explorations Mexico SA de CV, a subsidiary of Defiance Silver Corp., has acquired an option to repurchase the royalty on the company’s Tepal project in Michoacan, Mexico, from Minera Tepal SA de CV. The company has the option to acquire the existing 2.5% NSR from Minera Tepal over four years for total consideration of USD $4.85 million. Payments may be accelerated at the option of the purchaser.

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Kootenay Silver and Aztec Minerals Sign Joint Venture Agreement for the Cervantes Project, Sonora State, Mexico

VANCOUVER, BC, Dec. 17, 2020 /CNW/ – Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce the Company has entered into a joint venture agreement with Aztec Minerals Corp.  (TSXV: AZT) (“Aztec”) in respect of the Cervantes porphyry gold-copper project in Sonora, Mexico (“Cervantes”).  As noted in the Aztec press release dated July 30, 2019, Aztec has completed its earn-in and exercised the option to acquire a 65% interest in Cervantes.  Kootenay retains the remaining 35% interest.  The parties will hold their interests in Cervantes indirectly through share ownership in a joint venture company, Aztec Minerals (Mexico) JV. Corp.  The joint venture company indirectly owns 100% of Cervantes through its wholly owned subsidiary, Minera Azteca Dorado S.A. de CV. 

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Serengeti and Sun Metals Close Upsized $10,350,000 Bought Deal Offering in Connection With Merger Transaction

VANCOUVER, BC, Dec. 17, 2020 /CNW/ – Serengeti Resources Inc. (TSXV: SIR) (“Serengeti“) and Sun Metals Corp. (TSXV: SUNM) (“Sun Metals“) are pleased to announce, further to their joint news releases dated November 30, 2020 and December 2, 2020, the closing of the previously announced upsized bought deal financing of 82,800,000 subscription receipts (the “Subscription Receipts“) of Sun Metals, at a price of $0.125 per Subscription Receipt (the “Issue Price“) for gross proceeds of $10,350,000 (the “Offering“).  The Offering included a full exercise of the underwriters’ over-allotment option, and was co-led by PI Financial Corp. and Haywood Securities Inc. (the “Co-Lead Underwriters”), and included Agentis Capital Markets Canada Limited Partnership, Clarus Securities Inc. and Cormark Securities Inc. (collectively, with the Co-Lead Underwriters, the “Underwriters“).

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Cartier Res pegs Pusticamica at 1.45Mt of 2.87 g/t AuEq

Cartier Resources Inc. has released the results of the mineral resource estimate of the Pusticamica gold deposit on the Benoist property, located 65 kilometres northeast of Lebel-sur-Quevillon, Que. The estimate, completed and made available on December 16, 2020, was carried out by Ms. Christine Beausoleil P. Geo. and Claude Savard P. Geo. of InnovExplo Inc., independent qualified persons within the meaning of NI 43-101.

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