Welcome to our weekly roundup of some of the most prominent junior mining and exploration news over the last seven days.
Cerrado Gold (TSX-V: CERT | OTCQX: CRDOF) announced that it has entered into a US$20M gold and silver stream agreement with Sprott Resource Streaming and Royalty Corp. for its advanced stage, Monte do Carmo gold project located in Tocantins, Brazil. The proceeds will be used to complete the ongoing works to deliver a 43-101-compliant feasibility study for the project and for general corporate and working capital purposes.
Tudor Gold Corp. (TSXV: TUD) also entered into an agreement with Research Capital Corporation for a private placement offering for aggregate gross proceeds of up to C$20M. Eric Sprott is expected to participate in the offering, and the net proceeds from the sale of units will be used for its ongoing exploration drilling programme, working capital requirements, and other general corporate purposes.
Exploration news commended with Barton Gold Holdings Ltd (ASX: BGD) confirming multiple prospective structural targets attained with image processing and 3D modelling of detailed gravity survey data in three key regional target areas of the Tarcoola Gold Project in South Australia.
Managing director Alexander Scanlon, said inversion modelling of gravity data supports a strong correlation of density bodies within the interpreted position of the LLSZ, further validating the prospectivity of this target.
“These exciting results cross-validate our prior interpretations of multiple historical and new data sets, reinforcing the significant geological prospectivity for multiple regional discoveries at Tarcoola,” he added.
Freeman Gold Corp. (TSXV: FMAN | OTCQX: FMANF) received positive final results from the comprehensive 2021/22 metallurgical testing programme conducted on the Lemhi Gold Deposit, located in eastern Idaho, U.S.
“Our completed metallurgical programme has confirmed excellent gold recoveries over a large spatial area representative of the Lemhi resource estimate,” said executive chairman Paul Matysek.
St George Mining Ltd (ASX: SGQ) also received “excellent” results from a metallurgical programme for the Stricklands Deposit at its flagship high-grade Mt Alexander Project, located in the north-eastern Goldfields of Western Australia.
John Prineas, executive chairman, said the mineralization at Mt Alexander has a unique combination of high-grade nickel, copper, cobalt, and platinum group metals which the company believes has potential to produce concentrates of exceptional value.
Drilling news kicked off with American West Metals Ltd (ASX: AW1) drilling thick mineralized intercepts of zinc and copper in the third diamond drill hole completed at the West Desert Project in Utah, U.S.
Dave O’Neill, managing director, said the drill hole confirms the continuity near surface of the deeper mineralized zones encountered within WD22-01 and WD22-01C and is supportive of the open pit potential at West Desert.
Capitan Mining Inc. (TSXV: CAPT) has also obtained “excellent” exploration results from its current drilling at the 100% owned Jesús María Silver Zone, at the Cruz de Plata Project (formerly referred to as the Peñoles Project) in Durango, Mexico.
Finally, Surge Copper Corp. (TSXV: SURG | OTCQX: SRGXF) received positive assay results for three holes from the Berg Deposit located on the Berg Property in British Columbia. The company completed nine drill holes at Berg in 2021, and results from six additional holes from Berg are pending.