Month: December 2017

Primero Extends Revolving Credit Facility to December 22, 2017

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 primero_dec 15, 2017

Primero Extends Revolving Credit Facility to December 22, 2017

(Please note that all dollar amounts in this news release are expressed in U.S. dollars unless otherwise indicated.)

TORONTO, ON–(Marketwired – December 15, 2017) – Primero Mining Corp. (“Primero” or the “Company”) (TSX: P) today announced that the Company has agreed with its lenders to an extension of its revolving credit facility (“RCF”) and guarantee provided by Wheaton Precious Metals Corp., previously maturing on December 15, 2017. The maturity of the RCF has been extended to December 22, 2017, providing the Company with the ability to continue negotiations surrounding its previously announced strategic review process and the possible divestiture of its San Dimas mine in Mexico. There can be no certainty that these discussions will result in a resolution acceptable to all stakeholders.

 

 

 

Cerro Cascaron Drill Permitting Underway

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harvest god_dec 14, 2017

Vancouver, British Columbia / TheNewswire / December 14, 2017 – Harvest Gold Corporation (TSX.V:HVG) (“Harvest Gold” or the “Company”) is pleased to announce that the permitting process to conduct a 3,000 m diamond drilling exploration program at the high-grade Cerro Cascaron gold-silver project in Mexico is underway. The drill program is anticipated to include up to 30 holes from 50 to 300 metres in length and will require approximately 45-60 days to complete.

The Cerro Cascaron project covers 69 square kilometres in a historic Colonial-era mining district in the prolific Sierra Madre Occidental (“SMO”) precious metals belt of western Chihuahua State. Harvest Gold has the right to earn up to an 80% interest in Cerro Cascaron from Evrim Resources Corp. (“Evrim”) (TSX.V:EVM) by incurring certain exploration expenditures, making cash and share payments and delivering a 43-101 compliant feasibility study.

Bacanora Announces Strategic Cornerstone Investor and Offtake Agreement

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Bacanora_NR

Highlights

  • New Institutional Investor agrees to acquire 19.89% interest in Bacanora
  • Follows highly favourable Feasibility Study which estimated a NPV8 of US$1.253 Billion
  • Provides entry into key Chinese market

 

Calgary, Alberta (FSCwire) – BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (TSX-V: BCN and AIM: BCN), the Canadian and London listed lithium company, is pleased to announce that NextView Capital (“NextView”), a leading Chinese institutional fund management group focused on new technologies and energy, has agreed to acquire a 19.89% equity interest (non-diluted) in Bacanora (the “Strategic Investment”) via the placement of 32,976,635 common shares in the Company (the “Placing”) at a price of 94.53 pence (approximately C$1.6223) per share (the “Placing Price”).  The £31,172,813 (approximately C$53,498,000) capital raised by the Placing will be used for the continued development of the Company’s Sonora Lithium Project.  The Placing Price represents the volume weighted average price of the Company’s shares on the AIM Market of the London Stock Exchange over the previous seven trading days.  The actual number of shares to be issued may be adjusted upwards at closing (to keep the total equity interest at 19.89%) in order to reflect any securities issuances (in particular, potential option exercises) occurring in the interim.  Ashanti Capital acted as lead broker for the Placing.

MAMMOTH RESOURCES ANNOUNCES CLOSING ON $720,000 PRIVATE PLACEMENT AND COMMENCEMENT OF DIAMOND DRILLING AT ITS TENORIBA GOLD-SILVER PROJECT, CHIHUAHUA, MEXICO

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MammothResources

Toronto, Canada (December 14, 2017) – Mammoth Resources Corp. (TSX-V: MTH), (the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Private Placement”) of up to 8,000,000 units (the “Units”) of Mammoth at $0.09 per Unit, for gross proceeds of up to $720,000. Each Unit consists of one common share (a “Common Share”) and one common share purchase warrant (the “Warrant”) of the Company. Each Warrant will entitle the holder thereof to acquire one Common Share up to 18 months following closing of the Private Placement, at an exercise price of $0.13. The gross proceeds of the Private Placement will be used to diamond drill up to 3,000 metres testing up to 24 targets along a 5 kilometre trend of gold-silver mineralization at the Company’s Tenoriba, High Sulphidation gold-silver project in the Sierra Madre region of southwestern Chihuahua State, Mexico (refer to press release dated October 25, 2017) and for other working capital purposes.

KOOTENAY CLOSES $3.9 MILLION IN FIRST TRANCHE OF PRIVATE PLACEMENT

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kootenay-closes-do

Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce that further to its press release dated November 15, 2017, it has closed the initial tranche of its non-brokered private placement (the “Private Placement”) and has issued an aggregate of 19,549,480 units (each a “Unit”) at a purchase price of $0.20 per Unit for gross proceeds to the Company of $3,909,896. Each Unit consists of one common share (“Common Share”) and one-half of a transferable common share purchase warrant (each whole warrant a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.30 per share until December 13, 2020. Cash finder’s fees to arm’s length parties totaling $154,600 have been paid on this portion of the Private Placement.

The final tranche of the Private Placement to raise a further $109,000 by the issuance of an additional 545,000 Units is expected to close shortly, for aggregate total gross proceeds to Kootenay under the Private Placement of $4,018,896. The Company will announce the closing of the final tranche upon completion.

The net proceeds of the Private Placement will be used to fund the exploration and development of the Company’s La Cigarra project in Chihuahua State, Mexico, possible new acquisitions and for general working capital purposes.

Chesapeake Gold Provides Yarely Drilling and Exploration Update

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ChesapeakeGold_2017_12_14_150

Chesapeake Gold Corp. (“Chesapeake”) is pleased to provide an update of the Phase 1 drilling and district wide exploration program at its regional Yarely project (“Yarely”) in Sinaloa State, Mexico. Yarely is strategically located 10 kilometres from a paved highway and within 25 kilometres of the proposed Metates processing plant site. Metates hosts one of the largest undeveloped gold, silver and zinc reserves in the world and is 100% owned by Chesapeake.

Excellon Commences 2018 Exploration Program At Platosa And Appoints New Director

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Toronto, Ontario – December 14, 2017 – Excellon Resources Inc. (TSX:EXN, EXN.WT and EXN.WT.A; OTC:EXLLF) (“Excellon” or the “Company”) is pleased to announce the commencement of an extensive surface exploration program on the 21,000-hectare Platosa Property in Durango, Mexico targeting further extensions to the Platosa Mine system and new manto and skarn discoveries.

Santacruz Silver Amends Terms of Option Agreement on the Veta Grande Project and Enters Option Agreement for its Zacatecas Mineral Assets with Carrizal Mining

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Dec-14-17-NR

Vancouver, B.C. — Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) announces that it has reached agreement with the Contracuña group of companies (“Contracuña”) to amend the terms of the Option Agreement (see press release dated June 21, 2017) to acquire 100% ownership of the Veta Grande Project, including the Veta Grande mine and milling facility as well as the Minillas property located in Zacatecas, Mexico.

Almadex Intersects Enriched Copper at Raya Tembrillo (Villa Rica) Cuts 94.00m of 1.36% Copper and 0.07 g/t Gold Including 43.00m of 2.45% Copper and 0.09 g/t Gold

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AMZ_News_12-13-17

VANCOUVER, B.C. Almadex Minerals Limited (“Almadex” or the “Company”) (TSX-V: AMZ; OTCQX: AXDDF) is pl eased to announce it has received assay results from holes EC-17-036 and 041 from the Raya Tembrillo areawhich is the very northern part of the large Villa Rica Zone of the El Cobre property. This area is located approximately two kilometers south of the Norte Zone where since 2016 most of our drilling on the El Cobre property has been focussed. The holes reported today were drilled from the same pad as holes EC-17-037, 038 and 039 but at different azimuth and dips. Both holes intersected a chalcocite dominant enriched copper zone right from surface as well as hypogene mineralisation at depth. At this time the extent and orientation of both the hypogene and enriched mineralisation are not understood.

ALMADEN ANNOUNCES COMPLETION OF SOCIAL IMPACT ASSESSMENT AT IXTACA PROJECT

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Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) is pleased to announce that in the Spring of 2017 it engaged an arms-length consultant to conduct a Social Impact Assessment (“SIA”) of the Ixtaca Project. Almaden has now received a summary report of the SIA, which provides objective insight into the degree to which community members understand the Ixtaca project, and provides a valuable road map for further interactions with the communities who live local to the Ixtaca project area in Puebla State, Mexico.
The SIA was completed by Juan-Pablo Gudiño of GMI Consulting (“GMI”). GMI is a Mexico City-based group which provides social and environmental consulting services to government and industry. In 2015 it was
recognized by Consulting Magazine as one of the 50 most important consulting companies in Mexico. JuanPablo Gudiño is a lawyer with a Doctorate in Constitutional Law with a specialty in Human Rights, Environment, and Economics, with twenty years experience in environmental, constitutional, human rights, and labour law. He has attended hearings and cases before the Inter-American Commission on Human Rights and trials before the Inter-American Court of Human Rights. He has also represented the Mexican State and presented Mexico’s position before the Inter-American Commission on Human Rights, headquartered in Washington, regarding Megaprojects and Indigenous Consultation and Energy Reform, resulting in the acceptance of the country’s position. Juan-Pablo has participated in more than 30 consultation processes.