Welcome to our roundup of some the leading mining investment, exploration, and development stories on Theassay.com from the last week.
Finance news over the last seven days starts with Snowline Gold Corporation (CSE: SGD) completing its non-brokered private placement for aggregate gross proceeds of approximately C$7M. The gross proceeds will be used to support advancement of exploration on the company’s Yukon Territory mineral properties.
Scott Berdahl, Snowline Gold’s CEO and director, said, “We are thrilled to have funds in hand for a significant and expanded exploration programme in 2022.”
United Lithium Corporation (CSE: ULTH) entered into a definitive agreement with Sunstone Metals Limited, Scandian Metal Pty Limited, Scandian Metals AB, and Litiumlöydös Oy to acquire 83.6% of the issued and outstanding share capital of Litiumlöydös, a Finnish company which holds a 100% interest in and to the mining licenses comprising the Kietyönmäki Lithium project located in the Kietyönmäki lithium prospect.
Exploration and development activities kicked off with Chesapeake Gold Corporation (TSXV: CKG) unveiling a corporate update on its Metates gold-silver project located in Durango State, Mexico, together with planned technical work and objectives in 2022. CEO Alan Pangbourne, said, “2021 was a transformational year for Chesapeake, with new management members and technical team focused on testing a sulphide heap leach technology that could significantly improve Metates’ project economics as a low cost, scalable mine.”
Further afield in South America, Lake Resources NL (ASX: LKE) has been focusing on expanding its lithium projects and potential resources with new drilling at Lake’s 100% owned lithium brine projects at Olaroz, Cauchari, and Paso, with the starting date aimed for late January 2022. The projects are located in the Jujuy province, north-west Argentina, close to the Allkem (Orocobre) Olaroz operation and Lithium Americas – Ganfeng Cauchari project.
St George Mining Limited (ASX: SGQ) has been preparing to resume diamond drilling at its flagship high-grade Mt Alexander Project, located in the north-eastern Goldfields of Western Australia, in early January next year.
Drilling news over the last week includes CANEX Metals Incorporated (TSXV: CANX) receiving positive assay results for four drill holes from the company’s ongoing reverse circulation drilling programme designed to expand oxide gold mineralization at the Gold Range Project, Arizona.
Similarly, Culpeo Minerals Limited (ASX: CPO) has received positive assay results from the initial two holes at its maiden drilling programme at the company’s Las Petacas Copper Project in Chile. Managing director Max Tuesley said the results from the maiden drill programme are very encouraging, with every hole returning significant copper and gold mineralization.
Venture Minerals Ltd (ASX: VMS) has initiated new drilling at the Mount Lindsay Tin-Tungsten Project, targeting high-grade zones within the existing deposit, which continues to return substantial intersections of high-grade mineralization. The drill programme, designed to confirm the continuity of high-grade zones and provide additional metallurgical samples, is part of the company’s updated Feasibility Study for an underground mine.
Finally, Exploits Discovery Corporation (CSE: NFLD) received early results from its Exploits Subzone drill programme in Newfoundland. The company plans to release detailed results and analysis on Schooner and Jonathans Pond once a sufficient quantity of assays have been received.
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