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Advance Metals Consolidates Mexican Portfolio with Guadalupe y Calvo Acquisition in Transformational Quarter
Small Caps· 2025-10-30 05:27
Core Insights - Advance Metals has completed a significant acquisition of the high-grade Guadalupe y Calvo gold-silver project in Mexico, increasing its total silver equivalent endowment to over 100 million ounces across three projects [1][2] Acquisition and Project Development - The acquisition of the Guadalupe y Calvo project is described as "transformational" for Advance, providing scale, grade, and growth potential in a recognized mining district [2] - The project encompasses ten concessions over 27.5 square kilometers in the Sierra Madre Occidental volcanic belt [2] - Historical drilling in the project area exceeds 86,000 meters, with an estimated 9.5 million tonnes at 2.7 grams per tonne gold equivalent and 198 grams per tonne silver equivalent, totaling 816,000 ounces of gold equivalent and 60.6 million ounces of silver equivalent [3] Exploration Activities - Advance is advancing government and community approvals for an extensive exploration and drilling program to expand the Rosario and Nankin vein systems [3] - The company completed a 3,111-meter diamond drilling program at the Yoquivo silver-gold project, confirming multiple high-grade mineralization zones, with notable intercepts including 7.6 meters at 116 grams per tonne silver equivalent [4] - New regional mapping has identified previously unmapped vein systems, with rock chip samples grading up to 1,594 grams per tonne silver equivalent [5] Additional Acquisitions - Advance finalized the acquisition of the Gavilanes silver project, which has an estimated 2.83 million tonnes at 245.6 grams per tonne silver equivalent, equating to 22.4 million ounces of contained silver equivalent [6] - Preparations are underway for an exploration campaign to test known vein extensions and investigate additional mineralized zones [7] High-Grade Results - At the Myrtleford gold project in Victoria, drilling at the Happy Valley prospect returned significant gold intersections, including 9.4 meters at 18.6 grams per tonne gold [8] - Re-analysis of earlier holes upgraded two high-grade intervals by up to 29% [8] - The company confirmed the vertical extent of the high-grade system to over 500 meters with visible gold logged in a new hole [9] Corporate Developments - Advance secured $13 million in new funding through a two-tranche placement, ensuring full funding for ongoing exploration in Mexico and Victoria [10] - The company appointed David O'Connor as non-executive chair and established a Mexican advisory board to guide the development of its Latin American assets [11]
Astra Commences Phase II Drilling at La Manchuria Gold and Silver Project in the Deseado Massif, Argentina
Newsfile· 2025-10-29 10:00
Core Insights - Astra Exploration Inc. has commenced Phase II drilling at the La Manchuria Gold and Silver Project in Santa Cruz, Argentina, following a successful Phase I program [1][2] Group 1: Drilling Program - The Phase II drill program will consist of approximately 10,000 meters of diamond drilling, with 5,000 meters expected to be completed by December 2025 and another 5,000 meters in Q1 2026 [2] - The drilling is fully funded, with a treasury balance exceeding C$7,000,000 [2] Group 2: Phase I Results - Phase I drilling indicated that La Manchuria has a larger vein system than previously recognized, with significant gold and silver grades found near the surface [3] - Results from Phase I support the geological model that mineralization is open in all directions, suggesting the presence of a preserved epithermal system [3] Group 3: Geological Insights - Detailed mapping has revealed low temperature silica and vein fragments at the surface, contained in andesitic rocks and post-mineral breccias [4] - The mapping confirms favorable host rock units at depth, indicating potential for La Manchuria to host a large, high-grade gold-silver epithermal system [4] Group 4: Company Overview - Astra Exploration Inc. is a precious metals exploration company based in Vancouver, BC, focused on building a portfolio of high-quality projects in key mining jurisdictions in Latin America [5] - The La Manchuria project is a high-grade low sulphidation epithermal deposit located in the Deseado Massif, which hosts multiple world-class precious metals deposits [6]
Magna Terra Completes 100% Earn-In on the Cape Spencer Project, New Brunswick
Newsfile· 2025-09-04 12:00
Core Viewpoint - Magna Terra Minerals Inc. has successfully completed its final option payments for the Cape Spencer and Marigold options, securing a 100% interest in the Cape Spencer Project, which is positioned in a promising gold exploration area in southern New Brunswick [1][2]. Group 1: Project Details - The Cape Spencer Project is highlighted as a unique opportunity for shareholders, with significant potential for large gold deposits, as evidenced by nearby projects like the Clarence Stream Project [2]. - The project spans 5,089 hectares along a 15-kilometre strike of a gold-bearing structure, featuring large untested gold-bearing alteration systems [7]. - The Cape Spencer Deposit has an Inferred Mineral Resource Estimate of 1,720,000 tonnes at an average grade of 2.72 g/t gold, equating to approximately 151,000 contained ounces [7]. Group 2: Financial and Option Agreement Details - Under the Cape Spencer option agreement, the total payments to earn a 100% interest included $350,000 in cash and/or shares, and $145,000 in milestone payments over seven years [4]. - The final payments included the issuance of 1,218,274 common shares and $25,000 in cash, completing the earn-in requirements [4]. - For the Marigold option agreement, the total payments required to earn a 100% interest were $175,000 and 1,075,000 common shares, with the fifth anniversary payment of $35,000 recently settled [5]. Group 3: Company Overview - Magna Terra Minerals Inc. is focused on precious and critical metals exploration, with a portfolio that includes the Cape Spencer Gold Project and other high-potential mineral projects in Atlantic Canada and Argentina [11]. - The company aims to generate value for shareholders while minimizing dilution through option and joint venture partnerships [11].