Month: June 2017

ALMADEX INTERSECTS 100.47 METRES of 0.44 G/T AU AND 0.15% CU INCLUDING 34.47 METRES OF 0.73 G/T AU AND 0.20% CU AT THE ENCINAL ZONE, EL COBRE PROJECT, MEXICO

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Click to access AMZ_News_06-29-17.pdf

VANCOUVER, B.C. Almadex Minerals Limited (“Almadex” or the “Company”) (TSX-V: AMZ; OTCQB: AXDDF) is pleased to announce it has received assay results from the top of hole EC-17-025, which was collared into newly recognised area of exposed stockwork quartz veining and gold mineralisation in the Encinal Zone of the project. The Encinal Zone is located roughly 3.5 kilometres to the south-southeast of the Norte Zone drilling and 2.5 kilometers southeast of the recently identified Raya Tembrillo Zone of stockwork veining. To date assays have been received to a depth 300.36 meters with assays pending for the remainder of the hole. Significant mineralisation was intersected from the collar. Highlights from the assays received to date include the following intercepts which are also shown on the attached plan and section:

Hole EC-17-025 ENCINAL ZONE, 280 Az, -40 dip
From 3.65 to 300.36, 296.71 meters @ 0.32 g/t gold and 0.13% copper
Including 3.65 to 55.38, 51.73 meters @ 0.42 g/t gold and 0.17% copper
And 3.65 to 9.65, 6.00 meters @ 1.14 g/t gold and 0.20% copper
Including 165.89 to 266.36, 100.47 meters @ 0.44 g/t gold and 0.15% copper
And 171.89 to 234.36, 62.47 meters @ 0.57 g/t gold and 0.17% copper
And 171.89 to 206.36, 34.47 meters @ 0.73 g/t gold and 0.20% copper

Teck Announces Purchase of Goldcorp’s 21% Interest in the San Nicolás Copper-Zinc Project

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Click to access 17-30-TR.pdf

Vancouver, B.C. – Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced that its Mexican subsidiary has entered into a binding agreement with a subsidiary of Goldcorp Inc. to purchase its 21% minority interest in the San Nicolás Project located in Zacatecas, Mexico for cash consideration of US$50 million. On completion of the transaction Teck will own 100% of the San Nicolás Project. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2017.

Minera Alamos Announces Closing of $5.4 Million Private Placement Financing

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http://www.mineraalamos.com/news/?id=514

Minera Alamos Inc. (TSX VENTURE:MAI) (the “Company” or “Minera Alamos“) is pleased to announce it has closed the previously announced private placement consisting of  36,000,000 common shares of the Company (the “Common Shares”) at a price of $0.15 per Common Share for aggregate gross proceeds of $5,400,000 (the “Offering”), including the exercise in full of the Agents’ option.

“Close to a month ago, we made a transformative decision to enter into a strategic partnership with Osisko Gold Royalties.” said Darren Koningen, President and CEO of Minera Alamos.  “The goals of the new collaboration were to fast-track the path to production at the La Fortuna gold project and quickly expand our presence in Mexico organically and through additional acquisitions. We are extremely pleased to see our growth ambitions validated by the strong level of interest we received for this financing and look forward to providing further updates on our continued progress in the coming weeks”.

Oceanus Mobilizes Team to Evaluate and Drill the High Grade Protectora Vein at the El Tigre Property in Sonora, Mexico

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http://www.oceanusresources.ca/news/2017/oceanus-mobilizes-team-to-evaluate-and-drill-the-high-grade-protectora-vein-at-the-el-tigre-property-in-sonora-mexico/

HALIFAX, NOVA SCOTIA – June 29, 2017 – Oceanus Resources Corporation (TSXV:OCN and OTCQB:OCNSF) (“Oceanus” or the “Company”) reports it has received the final assay results for step-out drill hole ET-17-144. As previously released, this hole returned 0.85 meters of 135.1 g/t gold equivalentconsisting of 37.2 g/t gold and7,338.9 g/t silver. Oceanus now reports the base metal results for drill hole 144. Drill hole ET-17-144 returned 0.85 meters of 2.84% copper, 4.06% zinc and 1.38% lead. The mineralized zone consists of several vuggy quartz veins and veinlets carrying galena, sphalerite, chalcopyrite, stromeyerite and pyrite within a strongly silicified and kaolinized alteration zone. The true width of the vein is estimated to be 0.80 meters and the gold equivalent ratio is based on a gold-to-silver ratio of 75:1.

Hecla Mining Company Announces Cash Tender Offer for Its Outstanding 6.875% Senior Notes Due 2021

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http://ir.hecla-mining.com/file/Index?KeyFile=389273935

COEUR D’ALENE, Idaho–(BUSINESS WIRE)– Hecla Mining Company (NYSE:HL) today announced that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of its 6.875% Senior Notes due 2021 (the “Notes”). There is $506.5 million aggregate principal amount of Notes outstanding. The Tender Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase dated June 28, 2017 (the “Offer to Purchase”), which is being sent to holders of the Notes.

The Tender Offer is scheduled to expire at 5:00 p.m., New York City time, on July 6, 2017, unless extended or earlier terminated as described in the Offer to Purchase (such time and date, as they may be extended, the “Expiration Time”). Tenders of the Notes must be properly made before the Expiration Time and may be withdrawn at any time before the Expiration Time. Holders of the Notes who validly tender (and do not validly withdraw) their Notes at or prior to the Expiration Time, or who deliver to the information and tender agent a properly completed and duly executed Notice of Guaranteed Delivery in accordance with the instructions described in the Offer to Purchase, will receive in cash $1,038.13 per $1,000 principal amount of Notes validly tendered and accepted by the Company for purchase in the Tender Offer, plus accrued and unpaid interest to, but not including, the settlement date, which is expected to be July 7, 2017.

Hecla Reports Estimated Second Quarter Results

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http://ir.hecla-mining.com/file/Index?KeyFile=389273934

COEUR D’ALENE, Idaho–(BUSINESS WIRE)– Hecla Mining Company (NYSE:HL) today announced estimated realized prices, production, revenue, net income (loss) and Adjusted EBITDA for the second quarter of 2017, based on preliminary information available as of June 21, 2017.¹

The following table summarizes estimated results that are expected to be within the following ranges:

Second Quarter Ending June 30, 2017
Estimated Realized Price Estimated Production Estimated Revenue2
Silver $16.50-$17.30/oz 2.4-2.8 Moz $43-$47 M
Gold $1,235-$1,265/oz 50-52 koz $64-$66 M
Lead $0.92-$0.99/lb 8.4-8.8 Mlbs $7.5-$9 M
Zinc $1.11-$1.20/lb 25-26 Mlbs $19-$22 M
Treatment Charges $(6.5)-$(7) M
Total Revenues $127-$137 M

Second Quarter 2017 Highlights (Preliminary Results/Developments)

  • The Company expects that its operating mines will perform in line with its estimates for the second quarter.
  • Net loss applicable to common stockholders is expected to be in the range of $(2.0) – $(8.0) million.
  • Adjusted EBITDA for the second quarter is expected to be in the range of $38 – $48 million.
  • Production, sales and Adjusted EBITDA are lower than the metrics recorded in the first quarter due in part to lower silver, lead and zinc prices, the expected lower grade at Greens Creek, and the ongoing strike at Lucky Friday.
  • The Company expects to extend its $100 million credit facility to July 2020.
  • The Company and the union representing unionized workers at Lucky Friday are scheduled to meet in early July.

ALIO GOLD INC. ANNOUNCES C$50,000,000 BOUGHT DEAL OFFERING OF UNITS

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Click to access nr_20170628.pdf

Vancouver, June 28, 2017 – Alio Gold Inc. (TSX:ALO, NYSE MKT:ALO) (the “Company”) has today entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc. and Clarus Securities Inc., (collectively the “Underwriters”) pursuant to which the Underwriters have agreed to purchase on a bought deal basis 8,000,000 units of the Company (the “Units”) at a price of C$6.25 per Unit, representing
total gross proceeds of $50,000,000 (the “Offering”). Each Unit consists of one common share (a “Common Share”) of the Company and one-half of one common share purchase warrant (each whole warrant a “Warrant”). Each Warrant will entitle the holder to acquire one common share of the Company at a price of C$8.00 for a period of 12 months following the Closing Date. Closing is expected on or about
July 20, 2017 and is subject to regulatory approval including that of the Toronto Stock Exchange, NYSE MKT and the securities regulatory authorities.

Santacruz Silver Intersects Membrillo Vein and Discovers Two Additional Veins Cross Cutting the Membrillo Structure

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Click to access NR-Jun-28-2017.pdf

Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports that the Company has now intersected a targeted high-grade zone of the Membrillo vein at the Membrillo Prospect (see news release dated June 19, 2017). Eight preliminary rock samples of muck material removed from the first 10.60 metres of the production drift along the Membrillo vein on Level 1.5 returned assay results that range from 0.10 – 0.59 grams per tonne gold, 8.0 – 121.0 grams per tonne silver, 0.12 – 0.40 percent lead, and 0.62 – 7.07 percent zinc. The true thickness of the Membrillo vein in the production drift is approximately 0.40 -0.90 meters. Systematic chip sampling is currently in progress and assay results are pending. The extent of
mineralization of this high-grade zone is currently unknown.
Additionally, the Company announces that as a result of surface prospecting and development drifting underground it has discovered two previously unknown and unexplored veins, the Santa Ana and the San Jose veins, which are located approximately 100 and 75 metres south east respectively of and running parallel
to the San Rafael vein (see press release dated June 19, 2017). These structures were formed in shales and sandstones of the Triassic Zacatecas Formation and characterized by breccia textures infilled with quartz, sphalerite and galena. Underground and surface geochemical sampling and geological mapping are currently
being conducted and results are pending. At this time the Company has not completed sufficient work to determine if these veins are economically viable.

Financial Results for the Year Ended 31 December 2016

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Click to access nr-2017-06-27-annual-results.pdf

Arian Silver Corporation (“Arian Silver” or the “Company”) announces the release of its financial results for the year ended 31 December 2016. Chairman’s and Chief Executive’s statement We are pleased to take this opportunity to reflect on the period from January 2016 and to consider the progress Arian has made across the period, during which time we positioned the Company to strengthen the balance sheet and extinguished all loans. We also de-listed from the TSX Venture stock exchange to reduce our regulatory overheads and better reflect the UK-centricity of our  shareholder base.

Shallow Drilling Commenced at Zacatecas Brine Project

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Click to access 170626%20ZNC_Zacatecas%20Lithium%20Brine%20Drilling%20Commenced.pdf

Zenith Minerals Limited (“Zenith” or “the Company”) is pleased to advise that a program of shallow drilling has commenced at the Zacatecas Lithium Project in central Mexico. The program, fully funded by the Bradda Head Ltd under the American Lithium Joint Venture was bought forward as a suitable drill contractor became available in the project area. The aim of this short hole auger drill program is to provide an initial test for lithium in near surface brines and sediments of the San Juan salt pans where recent systematic, infill sampling returned highly encouraging surface sediment results up to 1046ppm lithium (Figure 1). As previously advised (ASX Release 24th May 2017) the surface sampling program has to date, outlined a large 4km by 2km strong lithium anomaly (values greater than 300ppm lithium) on the San Juan concession (Figure 2).