Minaurum Gold Renegotiates Biricu Gold ProjectBy Paloma Duran | Thu, 01/21/2021 - 18:03
Minaurum said it has entered into an agreement with Royalty Holder on the Biricu Project to improve its viability and unlock its mining value.
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Minaurum has announced that the company reached an agreement with its underlying Royalty Holder (RH) in regards to the Biricu Project that is located in the Guerrero Gold Belt. The agreement provides Minaurum the option to buy back a portion of the NSR and cancels the Bankable Feasibility Study payment for Biricu in exchange for delivering 100,000 common shares to RH. Darrell Rader, President and CEO of Minaurum, said the company is excited to work with RH to improve the viability of the project and unlock its significant mining value.
Mexican Gold announced the final results of its 2020 drilling program, in which 65 holes were drilled. Philip O’ Neill, CEO of Mexican Gold, said the program sought to expand and upgrade the resource zone at the El Dorado in Veracruz. O’Neill said the program provided excellent results and showed that “deposit remains open in several directions and with an important expanded tonnage.” Moreover, O’Neill said this drilling program will be used for an update model and Preliminary Economic Assessment (PEA) at the Las Minas mining district.
Silver Tiger announced a new discovery of high-grade silver and gold mineralization in the recently discovered Benjamin Vein, which is 900m from the Tigre mine district in Sonora. Glenn Jessome, President and CEO of Silver Tiger, said the company’s latest drilling program focused on testing the northern extensions of the silver and gold veins from the historic El Tigre mine and that by intersecting the Benjamin Vein, the company has obtained excellent results. Jessome reported the company plans to continue working in the area and is confident that many more discoveries will come from the El Tigre district.
Discovery released its 2021 work program and budget for its Cordero Project, located in Chihuahua. Taj Singh, President and CEO of Discovery Metals, said that 2021 will be a transformative year for the company and the Cordero Project, which is one of the few silver projects in the world offering excellent margins, size and scalability. Singh said that the company will focus on delivering a robust PEA and resource growth by expanding the zones and discovering new ones though an 66,000m drilling program.
GoGold released the results of its PEA at its Los Ricos South Project, located in Jalisco. The PEA shows that the strong economics of the district will continue to expand, along with additional targets. Brad Langille, President and CEO of GoGold, said the PEA is the first step in unlocking the district’s potential and creating more value for its shareholders. Languille said the Los Ricos South project will continue with the engineering studies that are necessary for a pre-feasibility study. Meanwhile, at the Los Ricos North, the company will continue its 100,000m drill program and target an initial mineral resource for this year.