Welcome to our roundup of the most popular mining investment, exploration, and development stories on Theassay.com from the last seven days.
We begin with news that Candente Copper Corp. (TSX:DNT) has received a second financing offer for a similar amount to the Lind Financing of up to $10 million announced on March 23, 2022.
The company is subject to confidentiality obligations with respect to the specific terms of the financing offer and the identity of the party that made the offer, but we can disclose that the offer came from another well-financed, reputable entity.
Funds raised will be dedicated initially to Feasibility, Detailed Environmental Impact studies and community initiatives for the Cañariaco Norte Project and once permits are received, then to exploration drilling on Cañariaco Sur and Quebrada Verde.
We heard how Commerce Resources Corp. (TSXV: CCE | OTCQX: CMRZF) has formed a new metallurgical collaboration with CanmetMINING focused on beneficiation testwork for the Ashram Rare Earth and Fluorspar Deposit.
The primary focus for the test programme will be to optimise and enhance the development of the Ashram Project’s base flowsheet, which is currently in the final stages of Prefeasibility design at Hazen Research in Golden, Colorado.
There was also news that Culpeo Minerals Limited (ASX: CPO) has identified several anomalous zones with large footprints of up to 1,000m x 500m through recent induced polarization geophysical surveys at the Quelon Project in Chile.
“These results provide additional evidence of the prospectivity of Quelon to host significant copper-gold mineralisation and we are looking forward to commencing a maiden drill programme at the Project during 2022,” said Culpeo Minerals’ managing director Max Tuesley.
On to drilling news, and Grid Metals Corp. (TSXV: GRDM | OTCQB: MSMGF) has intersected massive sulphides in 14 holes at its Makwa Nickel Property in Manitoba.
Results from the first drill hole at the MK02 target intersected two separate intervals of <1.0 metre of massive sulphide mineralization with nickel grades greater than 1.5%within a broader mineralized package including 15 metres of 0.64% and 3.5 metres of 1.14% nickel equivalent grade. Drilling at Makwa is ongoing. Drilling is also continuing at the company’s Donner Lake Lithium Project located 35km north.
Hot Chili Limited (ASX: HCH | TSXV: HCH | OTCQX: HHLKF) continues to obtain strong results from its Cortadera porphyry discovery, the centrepiece of the company’s low-altitude, Costa Fuego senior copper development in Chile.
Assay results returned from the first (CORMET006) of these five diamond drill holes have delivered an “outstanding” intersection of 876m grading 0.5% CuEq (0.4% copper (Cu), 0.1g/t gold (Au)) from 246m depth down-hole, including 206m grading 0.9% CuEq (0.7% Cu, 0.3g/t Au) from 414m depth (excluding 18m unsampled and excluding 4m unsampled due to geotechnical test work).
There was a production update from Cerrado Gold Inc. (TSXV: CERT | OTCQX: CRDOF), which announced record gold production of 15,008 ounces at its Minera Don Nicola (MDN) mine in Argentina for Q4 2021. The company has also reported record Q4 adjusted EBITDA of US$8.3M, and a record low AISC of US$995 ounces for the period.
Finally, Exploits Discovery Corp. (CSE: NFLD | OTCQX: NFLDF | FSE: 634-FF) has appointed Ken Tylee as vice-president of exploration.
“Ken brings a wealth of gold exploration experience from mature, mid-to-large tier mining companies with demonstrated success in growing resources within deep-seated and complex structural regimes like those located in Newfoundland,” said Jeff Swinoga, Exploits Discovery’s president & CEO.
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