Exploring Mining Podcast Episode 77 – News from (NYSE American: $SILV) (TSX: $SIL.TO) (NYSE: $RIO) (TSXV: $FMC.V) (TSXV: $MTA.V) (NYSE: $CDE) (TSXV: $RMI.V)
Point Roberts WA, Delta BC, June 23, 2019 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.
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SilverCrest Metals Inc. (NYSE American:SILV) (TSX:SIL) has provided a corporate update regarding its Las Chispas Project in Sonora, Mexico. The project currently has eight exploration drills in operation, with H2 plans for target drilling of an estimated 70,000 metres on high-grade resource expansion of the Babicanora, Babi Sur, Babi Vista, Babicanora Norte, Las Chispas, Giovanni, William Tell, and Varela veins. SilverCrest Metals CEO N. Eric Fier said:
"We continue to adjust to unprecedented COVID-19 conditions with the operation of a fully functional confined camp at Las Chispas. Health and safety of our people and surrounding communities are paramount as we move the project forward. The SilverCrest Team is back to operating eight exploration drills, advancing underground development at 10 to 15 metres per day, and working diligently on feasibility and engineering designs in preparation for potential major mine construction in 2021.”
Rio Tinto Group (NYSE:RIO) has commenced exploration at Forum Energy Metals Group’s (TSXV:FMC) Janice Lake Sedimentary Copper/Silver Project in northern Saskatchewan, Canada. The latter’s President and CEO, Rick Mazur, said:
"I look forward to this summer's program with a regional focus on uncovering the full extent of copper and silver mineralization at Janice Lake. We have barely scratched the surface on exploring this sedimentary basin which stretches for over 50 kilometres. Rio Tinto's focus will not only be on finding higher grade and thicker open pit strata-bound horizons, but also high grade structurally controlled mineralization."
Metalla Royalty & Streaming Ltd. (TSXV:MTA) has entered into agreements with Coeur Mining, Inc. (NYSE:CDE), and third-parties, to jointly acquire an existing 1.3875 percent royalty interest on the operating Wharf mine for total consideration of $8.0 million consisting of $7.0 million in existing Metalla common shares and Metalla Shares from treasury, and $1.0 million in cash. Metalla President and CEO Brett Heath said:
"We are pleased to add a high-quality producing gold royalty on one of the premier gold mines located in the United States with a proven operator such as Coeur. Wharf has been in production for more than three decades with an established track record of generating free cash flow. This transaction provides shareholders with immediate exposure to cash flow on a strong performing and well-run gold asset on an accretive basis."
Ridgestone Mining Inc. (TSXV:RMI) has announced the completion of a maiden drill program on the New Year Zone, a prospective target within its wholly-owned Rebeico Gold-Copper project in Sonora, Mexico. According to the press release, the completed program comprises “a total of 1,674 metres of diamond drilling in 11 holes”, which were “expanded from a planned 1,500-metre, 10-hole program.” Core samples are being submitted for analysis with results from the first six holes being expected “in the coming weeks.”
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