- Write by:
-
Saturday, July 20, 2019 - 10:44:25 AM
-
1341 Visit
-
Print
Mining News Pro - Vancouver-based Aftermath Silver’s (TSX: AAG.H) stock was up over 20% Friday, after it announced it is increasing its non-brokered private placement from 18.7 million units to up to 25 million units at a price of C$0.08 cents per share.
Aftermath said it will use the proceeds for the acquisition and exploration of the Challacollo and Cachinal silver-gold projects in Chile and for general working capital.
Aftermath Silver will use the proceeds for the acquisition and exploration of the Challacollo and Cachinal projects
Aftermath entered into a non-binding letter of intent with Mandalay Resources to purchase its 100% interest in the Challacollo deposit, which hosts a historic 30 million silver ounce Indicated Mineral Resource (4.7 million tonnes at 200 g/t silver) and a 6.9 million silver ounce Inferred Mineral Resource (1.6 million tonnes of 134 g/t), with associated gold credits.
The Challacollo project is located in Chile’s Tarapaca region, about 130 km southeast of the port city of Iquique.
Aftermath also entered into a definitive agreement with Halo Labs to purchase its 80% interest in the Cachinal silver-gold project in Chile.
The Cachinal project is in Chile’s Antofagasta region and the deposit hosts a current CIM compliant 18.4 million silver ounce Indicated Mineral Resource (5.66 million tonnes of 101 g/t) and 3 million silver ounce Inferred Mineral Resource (0.82 million tonnes of 115 g/t), with associated gold credit.
The deal is subject to the approval of the TSX Venture Exchange. At market close Friday, Aftermath’s shares had been traded 244,000 times, over 100 times the average daily volume of 2,285. The company has a C$2.6 million market capitalization.
Short Link:
https://www.miningnews.ir/En/News/400350
Australia’s Westgold Resources said on Monday it had agreed to acquire Toronto-listed Karora Resources in a ...
Canadian miner Teck Resources has agreed to pay Korea Zinc $165 per metric ton, a three-year low, to turn its zinc ...
The Côté gold mine has poured its first doré bar as the project advances toward commercial production. The mine, located ...
NextSource Materials has submitted an application to build a downstream battery anode facility (BAF) to process graphite ...
Canada has introduced tougher national security reviews of proposed foreign investments in sensitive sectors to enable ...
Australian gold miner Ramelius Resources Ltd said on Thursday it had ended discussions with Karora Resources for a ...
The United States and Canada announced Monday they have agreed to cooperate to reduce and mitigate the impacts of water ...
Australia’s Perseus Mining is not giving up on its plans to acquire African gold developer OreCorp, releasing on Friday ...
Québec-focused gold junior O3 Mining (TSXV: OIII) has been named winner of the 2024 PDAC Award for Sustainable ...
No comments have been posted yet ...