Metals Update 22/12/2020

Fenixoro to hold Abriaqui drill results webinar Dec. 22

Fenixoro Gold Corp. will host a webinar to provide insight and context on the successful drilling results received to date at its Abriaqui project in Antioquia, Colombia. Vice-president of exploration Stuart Moller and chief executive officer John Carlesso will discuss the results to date.

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Abraplata drills 47 m of 349 g/t AgEq at Diablillos

Abraplata Resource Corp. has released significant high-grade results from the latest assays received for diamond drill holes DDH 20-010A and DDH 20-012 completed at the Oculto deposit, located on its wholly owned Diablillos property in Salta province, Argentina. The holes were designed to test extensions beyond the known estimated mineral resource.

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Golden Minerals starts mining at Rodeo

Golden Minerals Company has begun mining activities at its Rodeo gold project located in Durango state, Mexico.

Blasting at the open-pit gold operation began last week. Initial blast holes were drilled on the 1460 bench in an area that includes outcropping mill-grade gold mineralization and thin overburden material. Forty-eight holes were drilled and blasted in the first pattern. During the next few weeks, the company will continue to develop the current and adjacent benches. The benches are designed to be five metres each in height. The company anticipates being able to transport the first loads of material to its Velardena oxide mill (located around 60 miles from Rodeo) for processing in January, 2021, assuming the current pace of work continues.

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Generation Mining arranges $3.3-million financing

Generation Mining Ltd. has arranged a fully subscribed non-brokered private placement of 4,295,000 common shares of the company to be issued on a flow-through basis at a price of 77 cents per share for gross proceeds to the company of $3,307,150. Approximately 47% of the Offering will be subscribed to by a company controlled by Mr. Eric Sprott, making it the largest shareholder of the Company’s common shares.

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Cerro de Pasco to drill Quiulacocha facility in 2021

Cerro de Pasco Resources Inc. has provided a corporate update.

On Nov. 27, 2019, the company entered into a definitive share purchase (the “Agreement”) with Volcan Compania Minera S.A.A. (BVL: VOLCABC1) and its subsidiaries (collectively, “Volcan”), whereby CDPR will acquire all the issued shares of Oxidos de Pasco S.A.C., Empresa Administradora de Cerro S.A.C and Remediadora Ambiental S.A.C. (the “Target Companies). The arm’s length transaction (the “Transaction”) will provide CDPR ownership and operation of all mining and processing assets in Cerro de Pasco, Central Peru, including a precious metal leach plant and a base and precious metals concentrator.

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Gold Terra appoints Strazdins as IR manager

Gold Terra Resource Corp. has appointed Mara Strazdins as manager of investor relations. The appointment of Mara is a key component in Gold Terra’s strategy to raise their profile with current and potential investors as the Company moves forward with the exploration of the Yellowknife City Gold Project, Northwest Territories.

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Eskay Mining drills 5.1 m of 31.23 g/t Au

Eskay Mining Corp. has confirmed discovery of two precious metal-rich volcanogenic massive sulphide deposits at the TV and Jeff targets on joint venture ground held with Kirkland Lake Gold Ltd. (80 per cent Eskay/20 per cent Kirkland Lake Gold). Assays for 9 of 20 diamond drill holes (TV20-35, TV20-36, TV20-37, TV20-38, TV20-39, TV20-40, J20-31, J20-34 and J20-37) completed between August and October, 2020 are discussed in this news release. Importantly, all drill holes encountered significant Au and Ag intervals. Assays for the remaining 11 holes are expected back by late January, 2021.

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Orea completes engineering studies at Montagne d’Or

Orea Mining Corp. has completed the additional engineering and environmental studies for the development of the Montagne d’Or gold mine in French Guiana, France.

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Globex: Quick Update

Globex has engaged Novatem to undertake a detailed (25m spacing) aeromagnetic survey over our large Opinaca River gold property located on strike to the southwest of Azimut’s gold discovery. The property covers 13 kilometers of the rock units that house the Elmer gold discovery and totals 65 claims including 4 separate claims to the north such that our 3431-ha land package also adjoins on both the south and northwest of Dios’s K2 gold target which Dios has just completed drilling.

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Black Iron signs $100M (U.S.) royalty term sheet

Black Iron Inc. has entered into a non-binding royalty term sheet for $100-million (U.S.) with a prominent United States-based institutional investor.

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Highgold drills 0.5 m of 190.5 g/t Au at Munro-Croesus

Highgold Mining Inc. has released the first round of assay results from the 2020 fall drill program at its Munro-Croesus project located in the Timmins gold camp in Ontario, Canada. The Program evaluated targets in the immediate vicinity of the historic Croesus Gold Mine as well as new targets identified in recent trench sample results elsewhere on the property. A total of 31 holes were completed totalling 2,645 meters. Assays have been received for nine (9) holes with significant results reported below and in Table 1.

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Sirios files Cheechoo technical report on SEDAR

Sirios Resources Inc. has filed on SEDAR the technical report titled “Mineral Resource Estimate Update for the Cheechoo Project Eeyou Istchee James Bay, Quebec, Canada,” with an effective date of Oct. 31, 2020. The report, in compliance to the NI 43-101 standards and completed for the company by BBA Inc., h the resource estimate update of the Cheechoo gold project, located at Eeyou Istchee James Bay at Quebec.

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Victory Metals increases financing to $17.5-million

Further to its news release dated Dec. 4, 2020, and due to significant demand, Victory Metals Inc. has increased the size of its non-brokered private placement financing of subscription receipts of Victory from $8-million to approximately $17.5-million. The Private Placement is expected to close in two tranches, with the first tranche anticipated to close on December 23, 2020 and the second tranche to close in January 2021. The Subscription Receipts will be issued at a price of $0.55 per Subscription Receipt (the “Subscription Price”).

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Enviroleach’s $5.34M private placement fully subscribed

Enviroleach Technologies Inc.’s previously announced non-brokered private placement has been fully subscribed. The Company has received subscriptions for 17,825,001 units (each a "Unit") at a price of $0.30 per Unit for total gross proceeds of $5,347,500. The Company is proceeding with transaction closing which, due to administrative contraints associated with year end and holiday hours, is anticipated to be completed by December 30, 2020.

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