Month: November 2017

Alamos Gold Completes Acquisition of Richmont Mines

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20171123-Alamos-Richmont-Acquisition-Completed_FINAL

TORONTO, ONTARIO–(Marketwired – Nov. 23, 2017) – Alamos Gold Inc. (“Alamos”) (TSX:AGI) (NYSE:AGI) is pleased to announce the completion of the previously announced plan of arrangement (the “Transaction”) whereby Alamos acquired all of the issued and outstanding shares of Richmont Mines Inc. (“Richmont”) (TSX:RIC) (NYSE:RIC).

Under the terms of the Transaction, all Richmont issued and outstanding common shares were exchanged on the basis of 1.385 Alamos common shares for each Richmont common share (the “Exchange Ratio”). Upon closing, Alamos has approximately 389,059,503 Class A Shares outstanding with Alamos and Richmont shareholders owning approximately 77% and 23% of the pro forma company, respectively. Richmont’s common shares will be de-listed from the Toronto Stock Exchange (“TSX”) and the New York Stock Exchange (“NYSE”) on November 24, 2017, or shortly thereafter.

Golden Goliath announces latest payment received for optioned properties

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Golden Goliath – Nov 22, 2017

Vancouver, Canada, November 21, 2017
The Company is pleased to announce that it has now received the latest option payment from Desarrollos Mineros El Aguila, S.A. de C.V. (“El Aguila”), a wholly owned subsidiary of Fresnillo plc for the properties optioned to them by the Company in the Uruachic Mining District in the State of Chihuahua, Mexico (the “Properties”).

The US $100,000.00 payment is the fifth in a series of seven optional payments by El Aguila in order that it may exercise the option to acquire the Properties. A further $100,000 payment would be due in May 2018. The final payment of $US 2.3 Million would be due in November, 2018. The Company’s recent option agreement on seven of its eight Uruachic properties allows the Company to remain debt free and focus future exploration on the San Timoteo property

The Company plans to use final payment to pay for the drill program on its 100% owned San Timoteo property, following the recommendations resulting from the recent work completed on San Timoteo.

Santacruz Resumes Operations at Veta Grande Mill

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SantaCruz_11222017

VANCOUVER, Nov. 22, 2017 /CNW/ – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports that the Company has recommenced operations at its Veta Grande mill located in Veta Grande, Zacatecas Mexico following authorization from PROFEPA and SEMARNAT (Mexico’s environmental regulatory authorities) to do so.

Operations at the Veta Grande mill were halted on November 3, 2017 pursuant to a notice issued by PROFEPA requesting a temporary suspension of operations until certain licensing documentation related to the operatorship of the mill was filed with regulatory bodies. All requested documentation was filed with the appropriate regulatory bodies on November 8, 2017 (see press release dated November 17, 2017).

Energold Drilling Group Announces Third Quarter 2017 Financial Results — Strong Sequential Improvement Amidst Strengthening Environment in Key Markets

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2017-11-22_NR_EGD

Energold Drilling Corp. (“Energold” or “the Company”) announces third quarter revenue in 2017 of $19.8 million compared to $17.8 million in the previous quarter, representing a positive improvement of 11%. Improving volumes in the mineral and energy segments have contributed to improved year-over-year performance as commodity prices stabilize and exploration capital returns.The Company is pleased that revenues continue to improve on a quarter-over-quarter basis in 2017 while losses have decreased amidst a more positive overall trend across the industry in general, and for the Company in particular. Meanwhile, the overall profit margin improved to 14% from 10% in the second quarter of 2017.

Mammoth Resources Announces Mobilization of Diamond Drill Equipment to Tenoriba Gold-Silver Project, Chihuahua, Mexico in Preparation for Drilling

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Mammoth Resources_nov222017

TORONTO, Nov. 22, 2017 (GLOBE NEWSWIRE) — Mammoth Resources Corp. (TSX-V:MTH), (the “Company”) is pleased to announce that all drill equipment and a D6 Caterpillar bulldozer have beenmobilized to its Tenoriba, High Sulphidation gold-silver exploration project in the Sierra Madre region of southwestern Chihuahua State, Mexico. Equipment has arrived by truck in preparation to commence the Company’s previously announced (refer to press release dated October 25, 2017) 8 to 24 hole, up to 3,000 metre diamond drill program to test various high priority gold-silver targets along a 5 km strike length within an approximate 15 square kilometre area of ubiquitous gold mineralization at Tenoriba. The Caterpillar bulldozer will be finalizing previously advanced access to diamond drill stations that were unable to be completed earlier this year. Drilling is expected to begin in the next 7 to 10 days once the diamond drill contractor has completed all preparation work (drill water supply lines, other supplies to drill stations) to enable commencement and continuation of drilling.

ALMADEN CONFIRMS NEW ZONE OF HIGH-GRADE MINERALISATION WITHIN PFS PIT HITS 1.00M OF 237.00 G/T GOLD PLUS 232.0 G/T SILVER WITHIN 38.60M OF 7.92 G/T GOLD AND 14.9 G/T SILVER (UNCUT)

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Almaden-2017-11-21

VANCOUVER, BC–(Marketwired – November 21, 2017) – Almaden Minerals Ltd. (“Almaden” or “the Company”) (TSX: AMM) (NYSE MKT: AAU) (NYSE American: AAU) is pleased to announce new assay results from Almaden’s ongoing exploration and development program at the Company’s Tuligtic project, Mexico. One drill rig is focused on step-out exploration drilling outside of the established resource area, while the second drill rig has completed holes for metallurgical samples related to the ongoing Feasibility Study, and is now testing new zones within the Pre-Feasibililty Study (“PFS”) pit. Today’s results are from holes TU-17-518 and 520 which were drilled to follow-up hole TU-17-504 (announced August 23, 2017) that intersected new and significant mineralisation in an upper portion of the PFS pit which was modelled as waste material in the Company’s PFS. Holes TU-17-518 and 520 confirm this discovery of a new zone of mineralisation in volcanic and limestone. Highlights include the following intercepts:

Hole TU-17-518    SECTION 10+650 EAST Az. 150, Dip -57
23.00 meters @ 0.45 g/t Au and 1.0 g/t Ag
38.60 meters @ 7.92 g/t Au (2.84 g/t with 1 sample cut(1)) and 14.9 g/t Ag
Including 23.50 meters @ 12.70 g/t Au (4.36 g/t with 1 sample cut(1)) and 20.7 g/t Ag
And 5.00 meters @ 51.45 g/t Au (12.25 with 1 sample cut(1)) and 58.4 g/t Ag
And 1.00 meters @ 237.00 g/t Au and 232.0 g/t Ag
(1) gold assays over 41 g/t were cut to 41 g/t.
Hole TU-17-520    SECTION 10+675 EAST Az. 150, Dip -70
20.40 meters @ 0.89 g/t Au and 11.1 g/t Ag
Including 7.00 meters @ 2.07 g/t Au and 20.4 g/t Ag

MEXICAN GOLD ANNOUNCES GRANT OF OPTIONS

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MexicanGold-2017-11-21

Mexican Gold Corp. (“Mexican Gold” or the “Company”) (TSX-V: MEX / OTCMKTS: SRXLF / FRA: 4QW1) announces that it has granted 200,000 incentive stock options to a director of the Company pursuant to Mexican Gold’s Stock Option Plan. The options are exercisable at a price of $0.36 for a period of ten years. The options vest as to one-third after twelve, eighteen and twenty-four months respectively from the effective date of the grant. The grant of options is subject to acceptance for filing by the Exchange.

 

Starcore Enters into Letter of Intent to Acquire the Santa Fe Project

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Starcorenov212017

Vancouver, British Columbia – Starcore International Mines Ltd.  (TSX:SAM) (“Starcore” or the “Company”) is pleased to announce that it  has entered into a Letter of Intent (“LOI”) with Eduardo de la Peña Gaitan and other property owners represented by him (the “Owners”), for Starcore to acquire approximately 21,000 hectares located in the state of Sinaloa, Mexico,  more commonly known as the Santa Fe Project (“Santa Fe” or the “Property”).

Under the terms of the LOI, Starcore will have an exclusive period of up to 120 days to conduct its due diligence on Santa Fe.  Upon satisfactory due diligence, a Definitive Agreement must be executed within 30 days in order for Starcore to complete the acquisition.

Alamos Gold’s Acquisition of Richmont Mines Receives Final Court Approva

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20171121-Alamos-Richmont-Acquisition-Receives-Court-Approval_FINAL

TORONTO, ONTARIO–(Marketwired – Nov. 21, 2017) – Alamos Gold Inc. (“Alamos”) (TSX:AGI)(NYSE:AGI) and Richmont Mines Inc. (“Richmont”) (TSX:RIC)(NYSE:RIC) are pleased to announce that they have been granted final court approval from the Quebec Superior Court (Commercial Division) of the plan of arrangement (the “Transaction”) whereby Alamos will acquire all of the issued and outstanding shares of Richmont.

The Transaction is expected to close on November 23, 2017, subject to applicable regulatory approvals and the satisfaction of other customary conditions.

MONARCA MINERALS INC. SIGNS LETTER OF INTENT TO ACQUIRE SAN JOSE PROPERTY IN CHIHUAHUA, MEXICO

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monarca-minerals-inc-signs-letter-of

Toronto, November 21, 2017 – Monarca Minerals Inc. (TSXV:MMN) (“Monarca” or the “Company”) is pleased to announce that it has entered into to a Letter of Intent to acquire the San Jose Property, located in northern Chihuahua, Mexico.

San Jose Property
The 5,580-hectare San Jose Property area has excellent indications of multi-element mineralization associated with skarn, gossan and altered intrusive rocks. An existing geological report (2011) discloses assays of up to 26.84ppm Au, 161 g/tonne (5 opt) Ag, 6.5% Pb, 0.9% Zn, and 4.2% Cu