Vancouver, British Columbia – October 20, 2017 – Silver One Resources Inc. (TSXV:SVE; OTC Pink: SLVRF; FSE:BRK1 – “Silver One”) is pleased to announce that it has closed its oversubscribed non-brokered private placement by issuing 10,750,000 units (“Units”) at a price of C$0.40 per Unit for gross proceeds of C$4,300,000 (the “Financing”).
Greg Crowe, President and CEO of Silver One commented: “We are very pleased with the success of the Financing and the positive support received from our existing and new shareholders. With the closing of the Financing, Silver One is now in a strong position to advance its flagship project, the past-producing Candelaria silver mine in Nevada. Surface exploration is currently underway and we intend to begin drilling the old leach pads in Q4/2017, with metallurgical testing to commence by year end. Additionally, numerous old workings that occur along strike from the open-pits will be examined to potentially add additional silver resources.”
In addition to being used to advance the Candelaria project, net proceeds from the Financing are also expected to be used for surface exploration currently underway at the Peñasco Quemado project in Mexico, and general corporate purposes.
Bacanora, the London and Canadian listed (AIM: BCN, TSXV: BCN) lithium exploration and development company, is pleased to announce that the Environmental Impact Statement, the Manifestacion de Impacto Ambiental (‘MIA’), for its flagship Sonora Project (‘Sonora’ or the ‘Project’) in Mexico has been approved by SEMARNAT, the Environment Ministry of Mexico. The Company is also pleased to provide an update on its ongoing Feasibility Study (‘FS’) for a 35,000 tonnes perannum lithium carbonate operation atSonora, which on course forcompletion in late 2017.
· MIA approval received for a 35,000tpa lithium carbonate operation at Sonora, following completion of comprehensive environmental and social baseline studies carried out over the site during a two year period
· Approval represents a major milestone for Bacanora and is in line with its strategy to construct an open-pit mine and a large scale beneficiation processing facility at Sonora
· FS expected to confirm Sonora occupies a favourable position in the industry cost curve due to:
o Planned open pit mining operations
o Development of a conventional beneficiation process followed by a standard SO4
roasting process that has been de-risked by the Project’s pilot plant which has continuously produced batery grade lithium since May 2016
o Free digging lithium deposit which removes the need for the lithium ore to be drilled, blasted, crushed and ground prior to processing as is the case with hard rock
o Ability to re-cycle Na2SO4 into the roaster negates the requirement to purchase expensive sulphuric acid as a sulphate SO4 source
· Sonora has an Indicated Mineral Resource (established in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects(“NI-43-101”) of 4.5 million tonnes LCE and 2.7 million tonnes Inferred and Probable Mineral Reserves (based upon the 2016 PFS) of 2.1million tonnes LCE.
October 19, 2017, Vancouver, BC – Alio Gold Inc (TSX, NYSE MKT: ALO) (“Alio Gold” or the “Company”), is pleased to announce that Goldcorp Inc. (TSX: G, NYSE: GG) has exercised its warrants that expire on October 19, 2017 for total proceeds to the Company of C$3.5 million. The Company has also exercised a buy-back right from Goldcorp of a 1% net smelter royalty (“NSR”) on its Ana Paula project located in Guerrero, Mexico for US$2.9 million.
“As we continue to advance the high grade, high margin Ana Paula project, the buy back of the 1% NSR is immediately accretive to the project and will deliver significant value to our shareholders over the long term,” said Greg McCunn, Chief Executive Officer. “We are advancing the Definitive Feasibility Study for the Project towards completion in Q2 2018 when we expect to make an investment decision to start construction. In parallel, we have initiated an exciting US$18 million exploration program at Ana Paula to investigate the extension of high-grade mineralization below the proposed open pit. Positive exploration results are expected to enhance already robust project economics, and it therefore made sense for us to exercise our buy-back right on the 1% NSR now. We would like to thank Goldcorp for their continued support of the Company through the exercise of the warrants.”
Toronto, Ontario – October 19, 2017 – Excellon Resources Inc. (TSX:EXN; TSX: EXN.WT) (“Excellon” or the “Company”) is pleased to announce that it has entered into an agreement with Cantor Fitzgerald Canada Corporation (“Cantor”) as sole bookrunner and together with PI Financial Corp. as co-lead underwriter, on its own behalf and on behalf of a syndicate of underwriters (together with Cantor, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 5,000,000 units of the Company (the “Units”) at a price of $2.00 per Unit for gross proceeds to the Company of approximately $10 million (the “Offering”). Each Unit will consist of one common share in the capital of the Company (each a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to acquire an additional Common Share at a price of $2.80 at any time on or before December 31, 2018.
VANCOUVER, Oct. 18, 2017 /CNW/ – GOLDCORP INC. (TSX: G, NYSE: GG) (“Goldcorp”) today announced the completion of the previously announced sale of its 21% minority interest in the San Nicolas copper-zinc project, located in Zacatecas, Mexico to Teck Resources Limited for cash consideration of $50 million. The closing follows receipt of Mexican anti-trust approval and the satisfaction of closing conditions customary in a transaction of this nature.
Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.
Two rigs currently drilling on 120 hole, 7,000m resource drill-out of Oposura
• Additional exploration drilling will test for extensions and repetitions
• Mineral resource estimate aimed for early 2018
• Six rigs now operating across three projects, delivering continual news flow
over coming months Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to advise that two diamond core rigs are drilling on its 100%-owned Oposura zinc-lead-silver project, located in the northern Mexican state of Sonora.
Azure’s first drilling program at its flagship project is designed to enable the Company to complete a Mineral Resource estimate by the end of March 2018.
Commenting on the drilling, Azure Managing Director, Mr Tony Rovira, said, “This is a very exciting time for Azure. With drilling underway at Oposura, the Company now has six rigs turning on three different projects, delivering a continual news flow over the next few months.
“Programs range from first-pass drilling on the exciting Sara Alicia gold-cobalt prospect to the resource drill-out program at Oposura, as well as deep exploration drilling being undertaken at Alacrán by our partner Teck Resources.”
VANCOUVER, BC – October 19, 2017 – SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce additional Phase II drill results for the Las Chispas Property (the “Property”) located in Sonora, Mexico. Step-out drilling targeting extensions of the Babicanora Vein continues to intersect high-grade mineralization. With the latest results, SilverCrest has drill-tested the Babicanora Vein over a 600 metre strike length (previously 500 metres), with a near-surface mineralized height of 150 to 175 metres. In addition, drilling has intersected high-grades in two veins named Granaditas and Amatista (Amethyst) at the Babicanora area.
VVC Exploration Corp (TSXV:VVC) is a resource company currently working to bring its flagship Samalayuca copper property in Chihuahua, Mexico to production. The NI 43-101 for the property was completed by Dr. Michel Boliy in 2013 represents an Inferred Mineral resource of 4.1 million tons of copper ore grading 0.47% copper and 5.8 g/t silver. This resource estimate was based on fresh rock samples from existing pits and from core drilling done by Phelps Dodge on the property and covers less than 10% of the mineralized zone.
The Samalayuca copper project, is a 4,055-acre property situated in the northern part of Mexico’s Chihuahua state and 60 kilometers southwest of El Paso, Texas. A producing property up to its closure in 1970, the project is copper-bearing, sits in a region nearly devoid of vegetation and VVC is now looking to bring it back up to production as soon as 2018. The project is also supported by infrastructure including an access road, an available mining workforce.
Southern Silver Exploration Corp. (TSX.V: SSV) (“Southern Silver”) reported today that Phase II drilling on the Stockpond gold target has commenced on its 100% owned Oro project. The program will consist of 8-10 reverse-circulation (RC) drill holes totaling approximately 1,200m, which will test lateral offsets of gold mineralization identified in 2016 drilling. In addition, results of a +300-line kilometer airborne Z-TEM survey over the entire Oro property have been received and evaluated, resulting in additional claims being staked to cover new targets that now have been sampled for further evaluation.
Cerro Las Minitas Update
The 2017 drilling on the Cerro Las Minitas project, Durango Mexico totaled approximately 13,600m in 18 drill holes and successfully identified and extended the new Skarn Front zone of mineralization beneath the Blind and El Sol deposits. Data compilation and modelling continues on the new mineralized zone that will be incorporated into an updated Mineral Resource Estimate due in the coming weeks. Surface work continues on the newly acquired Biznagas, Los Lenchos and Creston Del Oro claims, which are targeting precious-metal-enriched, volcanic-hosted, epithermal vein systems similar and on trend to the Avino Ag-Au mine and the adjacent San Sebastian Mine.
Vancouver, British Columbia / TheNewswire / October 18, 2017 – Harvest Gold Corporation (TSX.V:HVG) (“Harvest Gold” or the “Company”) and Evrim Resources Corp. (“Evrim”) (TSX.V:EVM) are pleased to announce soil sampling results from its Phase 1 exploration program at the high-grade Cerro Cascaron gold-silver project in Mexico.
The extensive soil sampling program covered an area of 4.5 kilometres by 1.6 kilometres north of the main gold vein field. Results have extended known veins, identified two new corridors and have highlighted a 1.4 kilometre-long, very strong gold-silver trend to the north of the highly prospective Serpiente Dorada vein. Highly anomalous soil samples, including one that assayed 1.38 grams per tonne (“g/t”) gold were also collected in the corridor where Serpiente Dorada intersects a newly identified, 1.8 kilometre long gold rich corridor (the “new vein corridor target”).