Point Roberts, WA and Delta, BC – October 27, 2021 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV, CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO’s and leading experts. Today’s podcast was sponsored by O2Gold Inc. (TSXV:OTGO), a mineral exploration company with activities in Colombia.
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Exploring Mining Podcast 216 – (TSXV: OTGO) (TSXV: AUN) (OTC: AUNFF) (NYSE: MAG) (NYSE: EGO) (TSXV: GMIN) (TSXV: BNCH)
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Aurcana Silver Corporation (TSXV:AUN) (OTC:AUNFF) has reported that its previously announced private placement offering of units has closed on the sale of 13,806,072 Units for gross proceeds of $9,664,250 CAD. According to the press release, the net proceeds “will provide additional contingency funding for the restart of the Company’s wholly-owned Revenue Virginius (RV) Mine as well as funding for growth of the resource base at the RV Mine which may enable the Company to grow future production volumes. Net proceeds will also be used for working capital and general and administrative expenses including potential opportunities to advance its wholly owned Shafter Project in light of the current silver price.”
MAG Silver Corp. (NYSEAmerican:MAG) has shared the 2021 third quarter production of underground development material from the Juanicipio Project. 57,127 tonnes of development material were processed during the quarter ended September 30, 2021. George Paspalas, MAG Silver’s President and CEO, said:
“We are very pleased that pre-commissioning has commenced on the process plant, and we have been very impressed with the ability of Fresnillo to manage through COVID and inflationary pressures to be ready for full commissioning in Q4 2021. We have learned so much from processing development material through the Fresnillo plant over the past 14 months, and hence are looking forward to a rapid ramp up through early 2022.”
Eldorado Gold Corporation (NYSE:EGO) has closed the previously announced sale of the Tocantinzinho Project (TZ) to G Mining Ventures Corp. (TSXV:GMIN). The two firms have entered into an investor rights agreement as part of the closing of the sale, which “grants Eldorado certain rights for so long as it maintains 10% ownership of GMIN common shares on an undiluted basis.” George Burns, Eldorado’s President and CEO, said:
“The sale of TZ provides immediate value for Eldorado and also allows us to retain meaningful exposure to future value creation through our equity stake in GMIN. We believe the combination of GMIN and the existing local Brazilian leadership group is the right team to advance the asset responsibly. We look forward to following and supporting their success.”
Benchmark Metals Inc. (TSXV:BNCH) has announced new results from exploration drilling at the Marmot Zone in British Columbia, Canada. Highlights include 30.00 metres core length of 1.93 grams per tonne (g/t) gold and 70.33 g/t silver or 2.81 g/t gold equivalent (AuEq) in drill hole 21MLDD004. CEO John Williamson said:
“The Marmot Zone continues to return significant gold and silver intercepts at-surface and at depth with a style of mineralization and alteration that is very comparable to our Cliff Creek deposit. These new results help demonstrate the continuity of this mineralizing system as it continues to grow in scope and scale, with the potential to add significant gold-silver ounces that would be peripheral to our current resource zones.”
Exploring Mining Podcast Sponsor
O2Gold Inc. (TSXV:OTGO) is a mineral exploration company with activities in Colombia. O2 Gold is focused entirely on the exploration of the Otu Fault project, with senior management based in nearby Medellin. The team’s deep roots and experience in Latin America-in both capital markets and mining-gives it the regional knowledge and operational expertise to create a world-class project.
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