March 30th, 2023 – Vancouver and Hong Kong – Reyna Gold Corp. (TSXV: REYG. OTCQB: REYGF) (“Reyna” or the “Company”) is pleased to announce mobilization has started for recommencement of a minimum of 5,500 metres (m) of diamond drilling at its 24,215 hectare, district-scale La Gloria Property in Sonora, Mexico.
Month: March 2023
First Majestic Announces Closing Sale of La Guitarra to Sierra Madre
Vancouver, BC, Canada – First Majestic Silver Corp. (AG: NYSE; FR: TSX) (the “Company” or “First Majestic”) is
pleased to announce that it has closed its previously announced transaction to sell its 100% owned past
producing La Guitarra Silver Mine to Sierra Madre Gold & Silver Ltd. (“Sierra Madre”) (TSX Venture: SM) following
the receipt of approval from the Comisión Federal de Competencia Económica (COFECE) and the TSX Venture
Exchange as well as the completion of other customary closing conditions. In consideration of the sale, First
Majestic received 69,063,076 shares of Sierra Madre at a deemed price of CDN$0.65 per share for an
approximate value of CDN$44.9 million or US$35.0 million.
GOLDEN TAG CLOSES FIRST TRANCHE OFPRIVATE PLACEMENT
Toronto, Ontario, March 30, 2023: Golden Tag Resources Ltd. (“Golden Tag” or the “Company”) (TSX.V: GOG) is pleased to announce that it has closed the first tranche (the “First Tranche”) of its previously announced non-brokered private placement (the “Offering”) of subscription receipts (each a “Subscription Receipt”). The gross proceeds received under the First Tranche combined with those to be received pursuant to subscription commitments secured by the Company will result in aggregate gross proceeds of $5.7 million.
SIERRA MADRE ANNOUNCES CLOSING OF DEFINITIVE ACQUISITIONOF LA GUITARRA
Vancouver, British Columbia – March 30, 2023 – Sierra Madre Gold and Silver Ltd. (TSXV: SM) (“Sierra Madre” or the “Company”) is pleased to announce that, pursuant to the share purchase agreement dated May 25, 2022, as amended and restated on October 28, 2022 (the “Share Purchase Agreement”), among the Company, First Majestic Silver Corp. (“First Majestic”) and Corporacion First Majestic, S.A. de C.V. (“CFM”), the Company has completed its previously announced acquisition (the “Acquisition”) of La Guitarra Compania Minera S.A. de C.V. (“Subco”), an indirect wholly-owned subsidiary of First Majestic incorporated under the laws of Mexico, that holds a 100% interest in the La Guitarra silver-gold property (the “La Guitarra Property”), as described in the Company’s newsreleases dated May 25, 2022, November 1, 2022, December 28, 2022, and March 21, 2023 (collectively, the “Prior News Releases”) and the Company’s information circular dated November 8, 2022 (the “Circular”).
Argonaut Gold Announces Updated Mineral Resources and Reserves
Toronto, Ontario – (March 30, 2023) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”), is pleased to announce today a significant increase in Mineral Resources for the Company’s two principal assets: the Magino Project, in the final stages of construction, located in Ontario, Canada, and the Florida Canyon Mine located in Nevada, USA. Measured and Indicated Mineral Resources at the Company’s two principal assets increased by 14% to 5.7 million gold ounces, while Inferred Mineral Resources more than quadrupled to 3.0 million gold ounces. On a consolidated basis, Measured and Indicated Mineral Resources total 11.3 million gold ounces, Inferred Mineral Resources total 3.5 million gold ounces, and Proven and Probable Mineral Reserves total 5.6 million gold ounces effective December 31, 2022.
Tocvan Outlines High-Grade Gold Results for Start of Diagnostic Leach Study. Stockpile of Bulk Sample Complete
Calgary, Alberta – March 29, 2023 – Tocvan Ventures Corp. (the “Company“) (CSE: TOC; OTCQB: TCVNF; FSE: TV3), is pleased to provide a progress update on its first bulk sample at the Pilar Gold-Silver Project in Sonora, Mexico. Over 1,200 tonnes of material have been stockpiled, with first shipments of material completed. Crushing, screening circuit and laboratory setup is completed. Material crushing and screening has started. Foundation and drainage system for leach pad installation is ongoing. Separate to the Bulk Sample, head-grade results from the precious metal diagnostic leach tests have returned high-grade results with the five samples averaging 6.2 g/t Au, 7.6 g/t Au, 1.3 g/t Au, 11.1 g/t Au and 7.6 g/t Au respectively (see Table 1). Diagnostic leach tests are ongoing and were collected from four trench areas and one select drill core coarse reject sample. Preliminary results from the study suggest free gold is present in the samples and has been confirmed visually by testing sieved (<3/8”) material. A gravity concentrator unit will be utilized to conduct formal testing for the presence and abundance of free gold in the finer grained fraction. At Pilar, trenching related to the bulk sample has unearthed several buried underground working entrances along quartz vein structures, another indicator of the robust mineralized system and a useful tool for mapping new high-grade structures.
Oroco Continues South Zone Success With 221.7 M of 0.45% Cu Equivalent
VANCOUVER, British Columbia – (March 29, 2023) Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or “the Company”) announces the assay results from drill holes S019 through S021 (1,553 m of drilling) of its South Zone drilling program at its Santo Tomas property (the “Property”) located in northwestern Mexico (see Table 1, Figure 1 (Figure 3 on the Company’s website) and the South Zone cross-sections, attached). To view an interactive 3D model that includes the South Zone results announced today, please use the following link: https://vrify.com or visit
Oroco’s website: http://www.orocoresourcecorp.com
Avino Achieves Net Earnings of $3.1 Million in 2022; Record Quarterly & Annual Revenues of $14.6 & $44.2 Million
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE: GV6, “Avino” or “the Company”) a growing silver producer in Mexico, released today its consolidated financial results for the Company’s fourth quarter and year end 2022. The earnings should be read in conjunction with the Company’s Financial Statements and Management’s Discussion and Analysis (MD&A) for the corresponding period, which can be viewed on the Company’s website at www.avino.com, or on SEDAR at www.sedar.com or on EDGAR at www.sec.gov.
Silver Spruce Closes Private Placement of $1,135,507
Bedford, NS- March 29, 2023 – (TSXV:SSE) – Silver Spruce Resources Inc. announced today that it has closed a private placement for proceeds of $1,135,507. The private placement consisted of the issuance of 75,700,499 units at a price of $0.015 per unit with each unit consisting of one common share and a warrant to purchase an additional common share at an exercise price of $0.05 per share on or before March 28, 2028.
Sierra Metals Announces Fourth Quarter & Year End2022 Consolidated Financial Results
TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (“Sierra Metals” or the “Company”) announces
fourth quarter and year-end 2022 consolidated nancial results. All amounts are in US dollars, unless otherwise