Welcome to our roundup of some the prominent mining investment, exploration, and development stories on Theassay.com over recent weeks.
Financing news kicked off with Rio2 Limited (TSXV: RIO; OTCQX: RIOFF) successfully closing the sale of the Anocarire mining concessions by Fenix Gold Limitada, a wholly owned subsidiary of Rio2, to Andex Minerals Chile SpA following the successful completion of Andex’s purchase option. Jose Luis Martinez, Rio2’s executive vice president and chief strategy officer, said the sale of this non-core asset adds an additional US$5M of available funding to support Rio2’s strategic business initiatives.
1911 Gold Corporation (TSXV: AUMB; OTCQX: AUMBF) closed an “upsized” brokered private placement for aggregate gross proceeds of $8M. The gross proceeds from the sale of the Flow-Through Shares will be used by the company to incur eligible “Canadian exploration expenses”.
Exploration news included Provenance Gold Corporation (CSE: PAU; OTCQB: PVGDF) confirming that its exploration priorities in 2022 will remain on the White Rock property and its recent acquisition, the Eldorado property. “The company will be issuing a series of updates starting early in 2022 on the progress of all the company’s projects as well as a full wrap-up and report on the White Rock drill programme completed this year. As noted, the company will also be releasing an initial resource estimate when available in the new year,” said CEO Rauno Perttu.
SensOre is commencing a process to attract direct investment to its portfolio of nickel and lithium targets in Western Australia. COO Robbie Rowe said exciting results from SensOre’s first lithium prospectivity runs have attracted international interest in funding expanded regional search opportunities.
Assay results from Castile Resources Limited’s (ASX: CST) first hole into the existing resource at Explorer 108 returned sections of high-grade zinc and lead with trace copper from a massive 145m mineralized interval. Managing Director Mark Hepburn on the result: “It goes without saying that there are very few projects where a company can produce a massive 145m zinc/lead intersection from their maiden hole into the target.”
Similarly, Coda Minerals Limited (ASX: COD) received exceptional intersections from the next round of assay results from drilling at its Emmie Bluff Deeps IOCG prospect in South Australia.
In IPO news, Centaurus Metals’ (ASX: CTM) application to join the OTCQX market has been accepted and the company’s shares commenced trading in the U.S. under the ticker OTCQX: CTTZF on December 30, 2021. Darren Gordon, the company’s managing director, said trading on the OTXQX will enhance the visibility and accessibility of Centaurus to the extensive market of North American retail, high-net-worth, and institutional investors.
Finally, IAMGOLD Corporation (TSX: IMG; NYSE: IAG) has appointed Jerzy Orzechowski as executive project director for the Côté Gold construction project in Northeastern Ontario. “Jerzy’s appointment is effective immediately and follows his full review of the project. His wealth of experience with large projects will be invaluable in bringing Côté from construction to production,” said Gordon Stothart, the company’s president and CEO.
