Welcome to our roundup of some of the standout mining investment, exploration, and development stories on Theassay.com from the last seven days.
Financing news commenced with Brixton Metals Corp. (TSX-V: BBB | OTCQB: BBBXF) signing a letter of intent giving Pacific Bay (TSXV: PBM) the option to acquire a 100% interest in the Atlin Goldfields Project, located within the traditional territory of Taku River Tlingit First Nations, Atlin, British Columbia, Canada.
Chairman and CEO, Gary R. Thompson, stated, “We are excited to have Pacific Bay take on the Atlin Goldfields Project. This deal would mark Brixton’s second option agreement, having optioned the Hog Heaven Project to Ivanhoe Electric in recent years. It provides value add for Brixton shareholders while the company focuses on the flagship Thorn Project.”
Rio2 Ltd (TSXV: RIO | OTCQX: RIOFF) received a deposit payment of US$25M from Wheaton Precious Metals International Ltd (WPMI) in connection with the previously announced precious metals purchase agreement on Rio2’s Fenix Gold Project in Chile.
In exploration news, Commerce Resources Corp. (TSXV: CCE) achieved a significant milestone with the production of a sample of mixed rare earth carbonate (mixed REC) from its Ashram Project, in Quebec, that meets typical rare earth element (REE) market specifications.
“The flowsheet has been significantly advanced and de-risked through the process of producing this mixed REC and I look forward to the delivery of these next samples to the major global processors that have requested it,” said president, Chris Grove.
Siren Gold Ltd (ASX: SNG) has continued to identify similarities between its Reefton Project exploration sites in New Zealand and Fosterville in the Victorian Goldfields of Australia.
Summa Silver Corp. (TSXV: SSVR | OTCQB: SSVRF) announced that it has staked an additional 1,446 acres of mineral rights, extending its Hughes Property in Nevada further to the northeast.
Galen McNamara, CEO, stated, “The acquisition of this new group of claims continues to solidify our land position in this classic American mining district. We believe strongly that the potential for new discoveries immediately surrounding the Tonopah area remains high, and we plan to aggressively pursue our targets soon.”
Drilling news kicked off with American West Metals Ltd (ASX: AW1) intersecting a very thick zone of in the fourth diamond drill hole of its current drill campaign at its West Desert Project in Utah. Managing Director Dave O’Neill said the mineralization is particularly strong in a number of massive sulphide dominant intervals.
Freeman Gold Corp. (TSXV: FMAN | OTCQX: FMANF) made a new gold-silver discovery at the Beauty Zone. located approximately 600m west of the company’s Lemhi Gold Deposit in eastern Idaho, U.S.
Victoria Gold Corp. (TSX: VGCX) announced strong fourth quarter financial and operating results for the year ending 31 December 2021. “2021 saw record annual gold production of 164,222oz, an increase of over 40% from 2020. Our increased production led to other record highs for Victoria including revenues of C$356M and net income of C$108 million,” president and CEO, John McConnell, said.
Finally, Horizonte Minerals Plc (AIM: HZM | TSX: HZM) announced the appointment two new non-executive directors to its board. The appointments add sustainability and corporate development expertise to the board in preparation for the next development stage of the company, as Horizonte looks to successfully deliver two tier-one nickel projects through to production.
