Welcome to a roundup of some of our financing, exploration, and development stories on Theassay.com over the last week. To keep up to date with all the latest headlines, subscribe to our weekly newsletter.
Financing and M&A
Over the last seven days, we have seen Golden Arrow Resources Corporation (TSXV: GRG | FSE: G6A | OTCQB: GARWF) increase its non-brokered private placement offering to up to C$1.2M in aggregate gross proceeds. All other terms will remain the same as originally announced.
Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits.
The company’s flagship San Pietro iron oxide-copper-gold (IOCG) project in Chile is funded to support a resource delineation programme through the option agreement. The proceeds of this offering will provide funds for other early-stage exploration work in Argentina as well as the necessary funds for general working capital.
Cosa Resources Corp. (TSXV: COSA | OTCQB: COSAF | FSE: SSKU) has completed the acquisition of the Titan uranium property in the Athabasca Basin, Saskatchewan from CanAlaska Uranium Ltd. Additionally, the company has entered into a service agreement with Swiss Resource Capital AG (SRC).
Pursuant to the purchase agreement, Cosa acquired a 100% unencumbered ownership of all eight mineral claims comprising Titan in exchange for C$10,000 in cash and the issuance of 300,000 shares of the company.
“The acquisition of Titan, which is contiguous with Cosa’s Orion Project, doubles Orion’s footprint, strengthening Cosa’s portfolio of underexplored projects covering prospective uranium structural corridors,” commented Keith Bodnarchuk, president, and CEO of Cosa.
New exploration and development
In addition, Centaurus Metals Limited (ASX: CTM) has received the formal approval of the environmental impact assessment (EIA) for its 100%-owned Jaguar Nickel Sulphide Project in northern Brazil, with the issue of the preliminary licence (LP) by the Pará State Environmental Agency – Semas.
Semas has now completed all of their internal processes and the LP has been formally issued.
The issue of the LP is a key milestone for the company and the Jaguar Nickel Sulphide Project as it attests to the fact the overall definition of the project is both environmentally and socially sound. Historically, this is the most challenging stage of the environmental approval process in Brazil.
Last week, Intrepid Metals Corp. (TSXV: INTR | OTCQB: IMTCD) has signed a drill contract with Godbe Drilling LLC on the Corral Copper Property in Cochise County, Arizona. The Godbe drill crew is currently on the property preparing for drilling to commence within the next two weeks. The property, which has historical mining shafts, contains 50,000m of historical drilling data, with shallow mineralization of copper, gold, silver, and zinc.
“We are very pleased to have crews on site and preparing for our first drill programme on our Corral Copper Property,” said Ken Brophy, CEO of Intrepid.
“We spent 2022-2023 consolidating the 3km trend of impressive copper and gold mineralization and the historical drilling data and we’re excited to finally start confirming those results.”
Drilling results
Meanwhile, Ionic Rare Earths Limited (ASX: IXR) has announced the Tranche 2 drill results from the Phase 5 resource infill and extension drilling at its 60% owned Makuutu Heavy Rare Earths Project in Uganda.
The results reported are for 20 core drillholes drilled as infill and extension holes to Area A of the current Makuutu 2022 mineral resource estimate.
Clay hosted rare earth intersections were achieved in all 20 infill core drill holes received, including:
– 5.3m at 1,044 ppm TREO from 2.7m in RRMDD784
– 17.1m at 1,003 ppm TREO from 4.8m in RRMDD778
– 16.2m at 713 ppm TREO from 4.0m in RRMDD771
– 11.0m at 691 ppm TREO from 4.0m in RRMDD770
– 14.6m at 684 ppm TREO from 6.1m in RRMDD772
Great Southern Mining Limited (ASX: GSN) has received assay results from a targeted 3,155m RC drilling programme conducted in late-2023 at the Southern Star prospect, part of the 100% owned Duketon Gold Project.
“This was a small, but targeted drilling programme aimed at testing depth extensions and distal targets to the main zone of gold mineralization already defined at Southern Star. We are particularly excited about the new zones of mineralization detected to the north. This opens the potential for gold mineralization along a line of strike some 1.5km from Southern Star to the tenement boundary with Regis Resources,” said managing director, Matthew Keane.
Other company news
Finally, Chesapeake Gold Corp. (TSXV: CKG | OTCQX: CHPGF) has been added to the Nasdaq Metals Focus Silver Miners Index.
The Nasdaq Metals Focus Silver Miners Index is designed to track the performance of companies engaged in the silver mining industry.
In addition, companies are selected based on classification by Metals Focus, a leading independent precious metals research consultancy. Eligible companies include those that derive the majority of their revenues from silver mining, have a significant market share of global silver production, or are principally engaged in exploration and development activities related to new silver production.
