Oceanus Closes Private Placement

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HALIFAX, NOVA SCOTIA – September 19, 2018 Oceanus Resources Corporation (TSXV:OCN and OTCQB:OCNSF) (“Oceanus” or the “Company”) has closed a non-brokered private placement raising $750,000 through the issuance of 5,769,227 units at a price of $0.13 per unit.  Each unit consists of one common share and one-half warrant of the Company (“Unit”). Every two one-half common share purchase warrants of the Company entitles the subscriber to acquire one common share of the Company for $0.17 for a period of twenty-four months from the closing date.  The Units issued pursuant to this private placement are subject to a 4 month hold period that expires on January 19, 2019.

Highlights on the Fifth Week of August, 2018. Mining and Exploration News in Mexico

rhythmically banded quartz vein

By Miguel A Heredia

During the 35th week of the year (August 27th to September 2nd, 2018), at least 18 press releases were announced by companies working in Mexico, with seven informing on exploration results, five announcing financing issues, four communicating deals and corporate issues, one reporting production results, and one reporting on resources and developments.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Azure reported that project operator Teck Resources commenced its second drilling campaign on the El Alacrán project; Minaurum acquired two additional mineral concessions at its Alamos Silver project and discovered three new veins; Ridgestone commenced a 1,400m drilling program at its Rebeico project; and Riverside provided an exploration update of its Mexican projects portfolio.  In Chihuahua, Harvest approved the budget to drill its Cerro Cascaron project, and Radius mobilized a drill team to explore its Amalia project. In Sinaloa, Goldplay reported historical core sampling results from its San Marcial project.  ON MINING, Santacruz reported Q2 2018 results from their Veta Grande project in Zacatecas and the El Rosario project in San Luis Potosi. ON FINANCING, Evrim closed a private placement for $7,272,601.50. Prize closed the first tranche of a private placement for $1,530.000. Vangold announced a non-brokered private placement for up to $500,000. Sable launched an early warrant exercise incentive program to exercise warrants exercisable for common shares. ON RESOURCES AND DEVELOPMENT, Endeavour updated mineral reserves and resource estimates and a PFS on its Terronera project in Jalisco. ON DEALS AND CORPORATE ISSUES, Silver Viper terminated its option agreement on the Clemente project in Sonora with Riverside. Ethos Gold entered into an option agreement to acquire a contiguous claim to its la Purisima project in Chihuahua. Santacruz amended the Contracuña option and a short-term loan agreement. Endeavour announced an initiative to reduce capital and operating costs.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Azure Minerals Limited, announced that Teck Resources commenced its second drilling campaign on the El Alacrán project in Sonora. Two diamond drill rigs have been mobilized to carry out a 5,000m program with the objective to test high priority drill targets including Cerro Alacrán (porphyry Cu target) and Cerro Simon (epithermal Au-Ag target).
  • Minaurum Gold Inc., acquired the 10,159 Ha La Quintera claim and the 400 Ha Yoreme claim to expand its land package to 16,134 Ha at its Alamos Silver project in Sonora. Three new veins have been discovered on the Yoreme concession measuring between 900m to 1,800m long. Vein sampling returned from anomalous up to 250 g/t Ag, 1.29% Cu, 4.74% Pb, and 1.99% Zn. “With the newly found Yoreme veins, we have outlined a vein swarm of 12 prominent and separate veins within an overall corridor measuring 10 km long and 2.7 km wide at Alamos.” stated Darrell Rader, President and CEO of Minaurum. “The new claims not only triple the size of our holdings but also ensure that we control the strike of all known veins, greatly expanding the impressive untested exploration potential at Alamos.”
  • Ridgestone Mining Inc., commenced a 1,400m diamond drill program at its Rebeico Au-Cu project in Sonora. The drilling program has the aim to test for Au-Cu mineralization below historical workings along the Alaska vein which has a strike length of over 1km and is open at depth.
  • Riverside Resources Inc., provided an exploration update of its projects portfolio. At its Cecilia project in Sonora, the company is conducting a soil survey sampling covering the larger surrounding concession acquired through the Mexican lottery system last year. Riverside also announced that Silver Viper Minerals Corp terminated its option on the Clemente project in Sonora and is currently compiling all the new information. It is also refining targets on its three copper assets in Sonora: Thor, Ariel and El Teco.
  • Harvest Gold Corporation, approved the drill program budget submitted by Evrim Resources Corp., for the diamond drill program at its Cerro Cascaron project in Chihuahua. The drill program will consists of 3,000m in 15 holes to cover seven target areas and is expected to initiate in late September.
  • Radius Gold Inc., mobilized a drill team to explore its Amalia project in Chihuahua. The 2,000m drill program will be conducted by Pan American Silver and is expected to commence in September on multiple drill targets, including Campamento target, a 500m by 70m zone of intense silicification and brecciation with massive and stockwork veining; Guadalupe target, a high-grade andesite hosted structurally controlled breccia zone, and Dulces target, a poorly exposed vein within an extensive area of argillic altered andesite volcanics and related Au in soil anomaly.
  • Goldplay Exploration Ltd., reported sampling results of the historical core from its San Marcial project in Sinaloa and confirms open pit target near surface with 46m of 129 g/t Ag Eq, including 7.5m of 379 g/t Ag Eq, and 1.5m of 1,079 g/t Ag Eq.

ON MINING

  • Santacruz Silver Mining Ltd., reported Q2 2018 results from its Veta Grande project in Zacatecas and the El Rosario project in San Luis Potosi. 52,025 tones were processed during Q2 2018 to produce 52K Oz Ag at a production cost of $66.12 per tonne.

ON FINANCING

  • Evrim Resources Corp., closed a private placement with Newmont Canada Corporation for $7,272,601.50. Proceeds from the private placement will provide funding for the Cuale high sulphidation epithermal gold project in Jalisco, Mexico and for general corporate purposes.
  • Prize Mining Corporation, closed the first tranche of a brokered private placement for $1,530,000. Net proceeds will be used on its Manto Negro project in Coahuila.
  • Vangold Mining Corp., announced a non-brokered private placement financing for up to $500,000. Net proceeds will be used to advance its Pinguino mine project in Guanajuato.
  • Sable Resources Ltd., launched an early warrant exercise incentive program to encourage the early exercise of up to 27,205,500 of its outstanding unlisted warrants exercisable for common shares at a price of $0.25.

 

ON RESOURCES AND DEVELOPMENT

  • Endeavour Silver Corp., updated mineral reserves and resource estimates and a PFS on its Terronera project in Jalisco. Indicated resources are 4,363,000 tonnes of 239 g/t Ag and 2.53 g/t Au for a total of 33.4M Oz Ag and 354K oz Au. Inferred resources are 1,073,000 tonnes of 252 g/t Ag and 2.38 g/t Au for a total of 8.8M Oz Ag and 82K Oz Au. Probable reserves are 4,701,000 tonnes of 226 g/t Ag and 2.28 g/t Au for a total of 33.8M Oz Ag and 342K Oz Au. The company also disclosed results of the PFS. Highlights include a mine life of 9.5 years with average annual production of 5.1M Oz Ag Eq in phase 2 (year 3 and onwards); a cash cost of $0.15 per Oz Ag, net of Au by-product credits and all in sustaining cost of $1.36 per Oz Ag, net of Au by-product credits, and a robust economics including an after-tax 5% NPV of $117.8M (51% increase from 2017 PFS), an Internal Rate of Return of 23.5% and Payback period of 5.4 years.

ON DEALS AND CORPORATE ISSUES

  • Silver Viper Minerals Corp., terminated its option agreement on the Clemente project in Sonora with Riverside Resources Inc.
  • Ethos Gold Corp., entered into an option agreement to acquire an 897 Ha contiguous claim to its la Purisima project in Chihuahua. The company can acquire the 100% interest of the property at any time during the 10 years following closing of the option agreement by paying the property owner staged payments for US$550,000 and granting a 2% NSR royalty on the property of which the company can purchase 50% at any time by paying US$ 1M.
  • Santacruz Silver Mining Ltd., amended the option agreement with the Contracuña group of companies to acquire 100% ownership of the Veta Grande mine and milling facilities as well as the Minillas project in Zacatecas. Santacruz also amended the repayment terms of the US$2.3M short-term loan it has with a private Bolivian mining company. Pursuant to the amended terms the principal balance of US$2.3 million is now to be repaid in October 1, 2018
  • Endeavour Silver Corp., announced an initiative to reduce capital and operating costs due to the drop in precious metal prices this quarter. The exploration group will cease all drilling activities and will be focused on preparing new resource estimates and planning for 2019 to resume their drilling programs. The development group working on Terronera project in Jalisco has delayed hiring for certain positions and will not commence already permitted earthworks on the roads and plant site until receipt of final government permits for the mine dumps and plant tailings. It also conducted a review of possible short-term improvements to increase revenue and decrease costs at each of their mines to year-end.

Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.

On the picture above, a rhythmically banded quartz vein in a low sulphidation epithermal project in Durango, Mexico.  Photo by Miguel A Heredia.

Evrim Resources Announces Closing of Private Placement

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Vancouver, B.C. – August 31, 2018. Evrim Resources Corp. (“Evrim” or the “Company”) is pleased to announce that, further to its previous announcement on August 28, 2018, the Company has closed its private placement with Newmont Canada Corporation (“Newmont”), a wholly owned subsidiary of Newmont Mining Corporation. A total of 4,848,401 shares of the Company were issued to Newmont at a price of $1.50 per share for gross proceeds of $7,272,601.50

Evrim Resources Welcomes Strategic Investment from Newmont Mining Corporation

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Vancouver, B.C. – August 28, 2018. Evrim Resources Corp. (“Evrim” or the “Company”) is pleased to announce it has arranged a strategic investment (the “Private Placement”) with Newmont Canada Corporation (“Newmont”), a wholly owned subsidiary of Newmont Mining Corporation. Newmont has agreed to purchase 4,848,401 shares of
the Company at a price of $1.50 per share for gross proceeds of $7,272,601.50. Proceeds from the Private Placement will provide funding for the Cuale high sulphidation epithermal gold project in Jalisco, Mexico and for general corporate purposes. The Private Placement is subject to regulatory approval of the TSX Venture Exchange.

Prize Mining Closes First Tranche of Brokered Private Placement

Prize Mining Closes First Tranche of Brokered Private Placement

August 27, 2018, Calgary, AB – PRIZE MINING CORPORATION (“Prize” or the “Company”) (TSXV:PRZ) (OTCQB:PRZFF) (MQSP:GR:FRANKFURT) is pleased to announce that the Company has closed the first tranche of the previously announce brokered private placement (the “Offering”) (see press release on July 3, 2018), led by Integral Wealth Securities Ltd. (the “Agent”), and Paradigm Capital Inc. and Eight Capital Corp. (together with the Agent, the “Syndicate”) of 10,199,998 units (the “Units”) of the Company at a price of $0.15 per Unit (the “Unit Price”) for gross proceeds of approximately $1,530,000.

Prize Mining Closes Final Tranche of NonBrokered Private Placement and Advances Field Programs in Mexico and British Columbia

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CALGARY, Aug. 23, 2018 /CNW/ – PRIZE MINING CORPORATION (“Prize” or the “Company”) (TSXV:PRZ) (OTCQB:PRZFF) (MQSP:GR:FRANKFURT) is pleased to announce that the Company has closed the third and final tranche (the “Final Tranche”) of the recently announced (see press release on June 21, 2018) non-brokered private placement (the “Offering”). The Final Tranche consists of a total of $500,000 representing 3,333,333 Units at a price of $0.15 per Unit. When combined with the earlier tranches of the non-brokered private placement, the Company has issued
an aggregate of 50,783,700 Units for a total of $7,617,555.

SILVER BULL ANNOUNCES CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT FOR CUMULATIVE GROSS PROCEEDS OF USD$3,788,443

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VANCOUVER, BC — (August 21, 2018) — Silver Bull Resources, Inc. (TSX: SVB; OTCQB: SVBL) (“Silver Bull” or the “Company“) is pleased to announce that it has completed the second and final tranche of its previously announced private placement (the “Private Placement“). Under the second tranche of the Private Placement, Silver Bull issued 7,365,555 units (the “Units“) of the Company at a price of USD$0.13 per Unit for aggregate gross proceeds of USD$957,522. Each Unit consisted of one common share in the capital of the Company (a “Common Share“) and one half of one transferable Common Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant entitles the holder thereof to acquire one Common Share at a price of USD$0.16 until the second anniversary of the closing of the second tranche of the Private Placement.

Prize Mining Closes Second Tranche of Non-Brokered Private Placement

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CALGARY, Aug. 17, 2018 /CNW/ – PRIZE MINING CORPORATION (“Prize” or the “Company”)(TSXV: PRZ) (OTCQB:PRZFF) (MQSP:GR:FRANKFURT) is pleased to announce that theCompany has closed the second tranche (the “Second Tranche”) of the recently announced (seepress release on June 21, 2018) non-brokered private placement (the “Offering”). The SecondTranche consists of a total of $617,555 representing 4,117,034 Units at a price of $0.15 per Unit. The First Tranche was closed on July 5, 2018 for proceeds of $6,500,000.

Highlights on the First Week of August, 2018. Mining and Exploration News in Mexico

Marble breccia cemented by FeOx

By Miguel A Heredia

During the 31st week of the year (July 30th to August 05th, 2018), at least 20 press releases were announced by companies working in Mexico, with six informing on exploration results, five announcing production results, five communicating deals and corporate issues, two reporting on resources and developments, and two  announcing financing issues.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Chihuahua, Silver Spruce received approval to drill its Pino de Plata project, Radius Gold-Pan American Silver announced a JV agreement to explore and drill the Amalia project, and VVC reported drilling results from its Samalayuca property. In Sinaloa, Goldplay reported drilling results from its El Habal project. In Durango, First Mining signed an agreement to option its Las Margaritas gold project to Gainey.  ON MINING, Several companies reported Q2, 2018 results on its Mexican operations. In Sonora, Alamos Gold announced Q2, 2018 results from their Mulatos and Chanate mines. In Sinaloa, McEwen provided Q2, 2018 results from its El Gallo mine. In Durango, Excellon announced Q2, 2018 results from its La Platosa mine. Great Panther reported Q2, 2018 results from their mining operations in Mexico and Peru. In Guerrero, Telson presented Q2, 2018 results from its Campo Morado mine. ON FINANCING, VVC announced a non-brokered private placement for $CA 1.5M. Colibri Resource negotiated an agreement to provide debt financing in an amount up to CAD $400K.  ON RESOURCES AND DEVELOPMENT, Premier Gold provided an exploration update on its Mercedes mine in Sonora.  Sierra Metals filed a NI 43-101 technical report for its Cusi mine in Chihuahua.  ON DEALS AND CORPORATE ISSUES, Goldplay secured eligibility for its shares and appointed its VP Corporate Development and Exploration. SilverCrest announced the resignation of one of its Directors. Equinox Gold announced court approval of the arrangement for the Solaris Copper spinout. VVC announced that its Annual General meeting for shareholders will be held on August 21. Radius Gold and Pan American silver entered in an agreement to explore the Amalia project in Chihuahua.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Silver Spruce Resources Inc., received approval for drilling its Pino de Plata project in Chihuahua. The company plans to perform a first phase of 1,500m of diamond drilling to test high grade targets identified with surface sampling, with a follow-up phase 2 where results warrant. The first drill target is El Terrero, an area of 2 square km area showing disseminated epithermal mineralization in intrusive rocks, where surface sampling returned up to 557 g/t Ag along with anomalous Au, Cu, Pb and Zn values. Six holes are planned with targeted depths to 100m. A second target is the Teodora Vein, where surface sampling reported up to 553 g/t Ag with anomalous values of Au, Cu, Pb and Zn. Three holes are proposed with planned depths to 100m. The third target is the Santa Elena Gossan, an area of 20 square km where surface rock sampling on carbonate replacement mineralization in limestone/marble and sandstone/hornfels assayed up to 349 g/t Ag with anomalous base metal values. Three to five holes are proposed in this target area with planned depths to 100m.
  • Radius Gold Inc., and Pan American Silver Corp., entered in a JV agreement to explore the Amalia project in Chihuahua. This option agreement is to explore a corridor of 3.5km of strike length and 600m of vertical interval, where 3 high grade targets showing epithermal Ag-Au mineralization in veins, vein breccias, and disseminated have been identified following the trace of a large regional fault zone. The Campamento target is a 500m by 70m zone of intense silicification and brecciation with massive and stockwork veining. A chip channel sampling returned 62m of 0.43 g/t Au and 98 g/t Ag. High grade has been also identified in this target with the most significant result returning 4.5m of 10.3 g/t Au and 202 g/t Ag. Radius and Pan American plan to drill test 100m to 250m below surface. The Guadalupe target is a high grade andesite structurally controlled breccia zone located 450m south along strike from the Campamento target and 250m lower in the geological section. A continuous chip sampling on the Guadalupe target returned 7m of 3.62 g/t Au and 1,048 g/t Ag, and 4m of 3.92 g/t Au and 888 g/t Ag. The Dulces target is a vein located 800m NE of Campamento target at the same elevation and occurs within an extensive argillic-altered andesite and related gold in soil anomaly. Sampling has returned 1m of 34 g/t Au and 13 g/t Ag, and 1.5m of 114.5 g/t Au and 57 g/t Ag.
  • VVC Exploration Corporation, reported drill results from its Samalayuca project in Chihuahua. The phase 3 was planned to drill 3,000m and begun in May 2018 with 8 holes completed to date. Results of the three first holes were 30m of 0.34% Cu and 6 g/t Ag, including 14m of 0.54% Cu and 10 g/t Ag; 7m of 0.39% Cu and 7 g/t Ag; and 25m of 0.43% Cu and 7 g/t Ag. These results extend the copper mineralization at La Gloria zone previously drilled in 2017.
  • Goldplay Explorations Ltd., announced initial results of four drill holes from its El Habal project in Sinaloa. The most significant results are 77.5m of 0.43 g/t Au, including 9.45m of 2.05 g/t Au, and 15.4m of 1.35 g/t Au. The mineralization intersected consisted of a series of mineralized breccias, structures/zone faults present in a 6km long mineralized corridor which represent a high-level gold system hosted by a volcanic sequence with intrusives and related hydrothermal fluids.
  • First Mining Gold Corp., and Gainey Capital Corp., signed an option agreement in which Gainey can acquires 100% of the Las Margaritas Gold project in Durango. Under the terms of the four year option agreement, Gainey can elect to make either annual share or cash payments to First Mining in the following amounts:

 

 

 

 

  1. Upon completion, Gainey will obtain 100% ownership of the Las Margaritas project and First Mining will retain a 2% net smelter returns (“NSR”) royalty, with Gainey having the right to buy back 1% of the NSR royalty for USD$1,000,000 up until the first anniversary of the commencement of commercial production at the project.

ON MINING

  • Alamos Gold Inc., presented Q2 2018 results from their Mulatos and El Chanate mines in Sonora. At Mulatos, the company produced 50.6K Oz Au at an all-in sustaining cost (AISC) per ounce of gold sold of $854. At El Chanate, Alamos produced 10.1K Oz Au at an AISC per ounce of gold sold of $1,442.
  • McEwen Mining Inc., reported Q2 2018 results from its El Gallo Fenix mine in Sinaloa. The compnay produced 10.8K GEOs (Silver and gold production are presented as GEOs). Total cash costs and AISC per GEO were $783 and $816 respectively.
  • Excellon Resources Inc., announced Q2 2018 results from its La Platosa mine in Durango. In Q2, 2018, the company milled 16.1K tonnes of 507 g/t Ag, 5.7% Pb, and 8.4% Zn to produce 277.7K Oz Ag, 1.8M Lb Pb, and 2.8M Lb Zn. Metallurgical recoveries for Ag, Pb, and Zn were 89.6%, 80.2%, and 82.2% respectively.
  • Great Panther Silver Limited, reported results from their mining operations in Mexico and Peru for the Q2, 2018 period. The company did not release detail information from its Mexican operations (Topia mine in Durango and Guanajuato Mine Complex in Guanajuato).
  • Telson Mining Corporation, presented Q2, 2018 results from its Campo Morado mine in Guerrero. The company processed 162.5K tonnes to produce 19.3M Lb Zn, and 1.3M Lb Pb, with metallurgical recoveries of 73.3% and 31.2% respectively.

ON FINANCING

  • VVC Exploration Corporation, announced a non-brokered private placement for $CA 1.5M. VVC has raised to date $CA 1.15M and expects to complete the rest $CA 350K in August.
  • Colibri Resource Corporation, negotiated an agreement with two shareholders to provide debt financing in an amount of up to CAD$400K.

 ON RESOURCES AND DEVELOPMENT

  • Premier Gold Mines Limited, provided an exploration update on its Mercedes mine in Sonora. The company announced the extension of a high grade vein system on its El Rey de Oro deposit. Significant underground drilling results are 16.55m of 6.21 g/t Au and 102 g/t Ag, 21.95m of 36.65 g/t Au and 171 g/t Ag, 20.5m of 8.1 g/t Au and 121 g/t Ag, and 9.2m of 8.33 g/t Au and 67.7 g/t Ag. Additionally, the company is conducting an underground drilling program to define the high grade Aida target located to the west of the main Mercedes vein where previous drilling has intersected a broad zone of low-grade mineralization with assays of up to 0.64 g/t Au and 0.79 g/t Ag across 31.5 metres. Premier also has the plan to drill test the Marianas vein once the drift has been established in H2 2018, and will go on with the definition and step-out drilling at Diluvio and Lupita areas that were recently brought into production.
  • Sierra Metals Inc., filed a NI 43-101 technical report for its Cusi mine in Chihuahua. The company released results of the PEA study. Results from the PEA include an after-tax net present value (NPV) of US$92.2 Million at an 8% discount rate, an after-tax internal rate of return (IRR) of 75%, a plant processing rate of currently 650 tonnes per day (TPD) growing to 1,200 TPD by Q1 2019 and 2,700 TPD by mid-2021, and a mine life of 9 years based on existing Mineral Resource Estimate.

ON DEALS AND CORPORATE ISSUES

  • Goldplay Exploration Ltd., appointed its VP Corporate Development and Exploration and secured eligibility by the Depositary Trusts Company for its shares on the OTC marketplace where the company trades under the symbol “GLYXF” (El Habal, Sinaloa).
  • SilverCrest Metals Inc., announced the resignation of one of its Directors. (Las Chispas, Sonora).
  • Equinox Gold Corp., announced final court approval of the arrangement for the Solaris Copper spinout (La Verde, Michoacan).
  • VVC Exploration Corporation, announced that its Annual General meeting of shareholders will be held on August 21 (Samalayuca, Chihuahua).
  • Radius Gold Inc., and Pan American Silver Corp., entered in a JV agreement to explore the Amalia project in Chihuahua. Pan American can earn an initial 65% of the property by making cash payments to Radius totaling $US 1.5M (of which $US 100K has been already paid), and expending $US 2M on exploration over four years, and can acquires an additional 10% by advancing the property to a FS.

Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.

On the picture above, a marble breccia cemented by FeOx in an Iron Mine in Coahuila, Mexico. Photo by Miguel A Heredia.