Month: November 2017

Alix Announces Private Placement Warrant Amendment

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https://www.fscwire.com/newsrelease/alix-announces-private-placement-warrant-amendment

Vancouver, British Columbia (FSCwire) – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces that further to its news release of November 8th, 2017 the post-consolidation common share purchase warrants included in the non-brokered private placement will entitle the holder to acquire one post-consolidation common share at an exercise price of $0.20 per share for a period of 36 months, extended from the previously announced term of 24 months. All other terms of the private placement remain unchanged.

 

The private placement is subject to the acceptance of the TSX Venture Exchange.

Oceanus Intersects 10.9 g/t Gold and 2,830.4 g/t Silver Over 0.75 Meters at its El Tigre Property in Sonora, Mexico

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https://www.oceanusresources.ca/news/2017/oceanus-intersects-10.9-g-t-gold-and-2-830.4-g-t-silver-over-0.75-meters-at-its-el-tigre-property-in-sonora-mexico/

HALIFAX, NOVA SCOTIA – November 16, 2017 – Oceanus Resources Corporation (TSXV:OCN and OTCQB:OCNSF) (“Oceanus” or the “Company”) has intersected the high grade Caleigh vein in the first hole of the Fall 2017 drilling program at its 100% owned El Tigre Property in Sonora, Mexico.

Hole ET-17-145 returned 0.75 meters of 48.7 grams per tonne (“g/t”) gold equivalent from a depth of 28.50 meters to 29.25 meters consisting of 10.91 g/t gold and 2,830.4 g/t silver.

The hole also encountered the low grade hanging wall alteration zone adjacent to the Caleigh Vein. The overall intersection returned 25.75 meters of 1.88 g/t gold equivalent from a depth of 3.50 to 29.25 metersconsisting of 0.65 g/t gold and 91.9 g/t silver. The true width has not been calculated for the intercepts, however true width is generally estimated at 75% to 90% of drilled width. The gold equivalent ratio is based on a gold-to-silver price ratio of 1:75.

Historic Data Reveals High-Grade Surface Mineralisation at La Lupita

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Click to access 171116_Historic-High-Grade-Surface-Mineralisation-at-La-Lupita-Final.pdf

16 November 2017 – A review of historic data has confirmed the location of high grade silver mineralisation at the La Lupita prospect in the northern region of Santana’s Cuitaboca Project in Sinaloa, Mexico. (Refer Appendix 1)

A total of 24 samples were taken in the 1990s by Servicios Industrias Peñoles SA de CV (Peñoles). The sample results are shown in Table 1.

Table 1: Peñoles historic sampling records at La Lupita

Peñoles sampling of this vein yielded an average 0.3g/t Au and 220g/t Ag over an approximate strike length of 130m, the results of which were subsequently verified and recorded in a 2005 Technical Qualifying Report by consultancy group Behre Dolbear & Company Ltd.

 

MEXICAN GOLD MOBILIZES DRILL RIG BACK TO EL DORADO/JUAN BRAN FOR INFILL AND RESOURCE EXPANSION DRILLING SURROUNDING HIGHGRADE MINERALIZATION INTERSECTED IN HOLE LM-17-ED-40

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Click to access nr-2017-11-15.pdf

Mexican Gold Corp. (“Mexican Gold ” or the “Company”) (TSX-V: MEX / OTCMKTS: SRXLF / FRA: 4QW1) is pleased to announce that it has commenced infill and resource expansion drilling to extend the three high – grade zones intersected in recently completed hole LM -17-ED -40. Hole LM-17 ED-40 was drilled as a resource expansion hole and intersected three high- grade intervals over significant widths.
The hole cut a cumulative 94.35 meters of high-grade mineralization over three zones. The main zone graded 9.24 g/t Au Eq over 38.0 metres contained within 54.0 metres grading 6.91 g/t Au Eq. The upper zone graded 5.33 g/t Au Eq over 5.0 metres contained within 19.0 metres grading 2.45 g/t Au Eq.
And the middle zone graded 3.99 g/t Au Eq over 11.35 metres contained within 21.35 metres grading 2.45 g/t Au Eq. – see press release November 14, 2017

GAINEY ANNOUNCES CLOSING OF PRIVATE PLACEMENT

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http://www.gaineycapital.com/8-news/95-gainey-announces-closing-of-private-placement.html

VANCOUVER, BC – Gainey Capital Corp. (the “Company” or “Gainey”) (TSX-V:GNC) is pleased to announce that it has closed the second, and final, tranche of its previously announced non-brokered private placement by issuing an additional 5,979,653 units at a price of $0.12 per unit to raise gross proceeds of $717,758 with all securities issued having a four-month hold period which expires on March 11, 2018. Total gross proceeds of the Offering are $1,957,558 with a total of 16,312,986 shares, 16,312,986 warrants, and 385,000 Finders’ Warrants being issued.

As previously announced, each Unit in this offering consists of one common share in the capital of the Company (each a “Common Share”) and one share purchase warrant (a “Warrant”). Each full warrant entitles the Unit holder to purchase one (1) additional GNC common share at a price of $0.24 per share at any time within 36 months of the closing.

Endeavour Silver Drilling Discovers Potential Bulk Tonnage Silver Mineralization in the Palmilla Mine Area, Parral Project, Chihuahua, Mexico

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http://www.edrsilver.com/news/index.php?content_id=610

Vancouver, Canada – November 15, 2017 – Endeavour Silver Corp. (NYSE: EXK, TSX: EDR) announces that exploration drilling on the Parral property in Chihuahua State, Mexico has discovered potential bulk tonnage silver mineralization within the Palmilla-Capuzaya-La Luz veins in the Palmilla mine area.

Palmilla was an historic high grade silver mine which provided silver to the Mexican mint in the late 1800’s.  While most of the narrow, high grade ores were mined out from underground workings located on and immediately south of the Parral property, Endeavour drilling has outlined lower grade, bulk tonnage mineralization above and along strike of the old workings that may be amenable to open pit mining.

Thirty two drill holes totaling 6,370 metres (m) of core were drilled to test the Palmilla mine area (view maps here). The drill holes were spaced at approximately 50 m centres along two main mineralized structures over an area 550 m long by 250 m wide by 150 m deep.

Drilling highlights include 11.1 m (36.4 feet (ft)) true width grading 154 grams per tonne (gpt) silver, 0.36 gpt gold, 0.07% lead and 0.23% zinc (179 gpt silver equivalent (AgEq) or 5.8 oz per tonne (opt) AgEq) in hole PAL-02.  Other highlights include two intercepts of 11.0 m (36.1 ft) assaying 118 gpt silver, 0.60 gpt gold, 0.15% lead and 0.22% zinc (160 gpt AgEq or 5.1 opt AgEq) and 15.1 m (49.5 ft) running 114 gpt silver, 0.2 gpt gold, 0.22% lead and 0.33% zinc (128 gpt AgEq or 4.1 opt AgEq) in hole PAL-13.

KOOTENAY ANNOUNCES $4 MILLION NON-BROKERED PRIVATE PLACEMENT

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Click to access 2017_24_KTN_NR_Kootenay-Announces-$4M-Non-Brokered-Private-Placement.pdf

November 15, 2017 – Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) announces a non-brokered private placement of up to $4,000,000 (the “Private Placement”) consisting of 20,000,000 Units (the “Units”) at a price of $0.20 per Unit (the “Placement Price”). A non-solicited lead order of $2,000,000 has been received from a well-known gold mining fund on a fully subscribed Private Placement basis.

Each Unit shall consist of one common share (“Common Share”) and one-half of a transferable common share purchase warrant (“Warrant”). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.30 for a period of 36 months immediately following the closing date of the Private Placement. A finder’s fee of 6% shall be paid at the election of the Company in cash or Common Shares, of the portion of the proceeds raised in the Private Placement through the efforts of arm’s length finders.

Silver Spruce Provides Update on Pino de Plata Project Plans for Maiden Drill Program

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http://www.silverspruceresources.com/s/NewsReleases.asp?ReportID=807666&_Type=News&_Title=Silver-Spruce-Provides-Update-on-Pino-de-Plata-Project-Plans-for-Maiden-Dri…

November 15, 2017 – Bridgewater, NS – (TSXV:SSE)(Frankfort-S6Q) – Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) is pleased to announce that it has restarted the permitting process for initiating the drill program at its Pino de Plata silver project. The 397-hectare (Ha) project is located in the Sierra Madre Occidental of Western Chihuahua State, Mexico, approximately 15 kilometres west from Coeur Mining’s Palmarejo silver project and approximately 12 kilometres due south of the town of Chinipas, Chihuahua State, Mexico.

The Company has obtained assurance from the surface land owners that they will sign the formal permitting applications necessary to submit to the Department of Mines and SEMARNAT in order to obtain the permits for constructing road access to some drill locations and new drill pads. Silver Spruce has contracted PRODEMIN, SA de CV to manage the environmental permit applications, and a local contractor will be hired to complete the required earthworks for access road rehabilitation and creation of drill pads where needed.

MAG Silver Announces up to US$44 Million Private Placement

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http://www.magsilver.com/s/NewsReleases.asp?ReportID=807648

VANCOUVER, British Columbia MAG Silver Corp. (TSX: MAG; NYSE A: MAG) (“MAG”) is pleased to announce that it will undertake with some existing shareholders, a non-brokered private placement offering of up to 4,202,483 common shares of MAG (the “Common Shares“) at a price of US$10.47 per Common Share for maximum gross proceeds of US$43,999,997 (the “Offering“).

MAG intends to use the net proceeds of the Offering to fund exploration and development of the Juanicipio Project and for working capital and general corporate purposes. The Offering is expected to close on or before November 28, 2017, subject to receipt of all necessary regulatory approvals, including approval of the Toronto Stock Exchange.

Any securities issued pursuant to the Offering will be subject to a hold period under applicable Canadian securities laws, which will expire four months plus one day from the date of closing of the Offering.

Silver Bull Intersects 16 Meters of Sulphide Mineralization Grading 396G/T Silver & 1.61% Copper, Including 6 Meters Grading 610G/T Silver & 1.12% Copper on the Sierra Mojada Project, Coahuila, Mexico

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Click to access 2017-11-15_NR_SVB.pdf

Vancouver, British Columbia – Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull”) is pleased to provide results from its continued underground drill program targeting the newly discovered Sulphide Zone, which sits under the previously defined oxide zone on the Sierra Mojada Project in Coahuila, Northern Mexico.

Highlights from the four holes announced in this news release include:

  • Hole T17003 – 16 meters @ 396g/t silver and 1.61% copper including 5 meters @ 379g/t silver and 3.25% copper from 0 meters to 5 meters, and 6 meters @ 610g/t silver and 1.12% copper from 10 meters to 16 meters.
  • Hole T17004 – 7 meters @ 370g/t silver and 0.85% copper. Hole hit historical workings and was terminated
  • Hole T17006 – 4.8 meters @ 352g/t silver and 0.58% copper. Hole hit historical workings and was terminated