Welcome to our roundup of last week’s mining investment, exploration, and development stories on Theassay.com.
Amex Exploration Incorporated (TSXV: AMX) has successfully closed its bought deal private placement of C$49,609,850.
“This is the largest financing in the history of the company that significantly strengthens our treasury and funds a very aggressive exploration programme, for which Amex has become known in the industry,” president and CEO, Victor Cantore, said.
“100% of the money raised from this financing will be put into our exploration programme to build a substantial resource at Perron.”
Exploration news started with Astra Exploration Incorporated (TSXV: ASTR) identifying three quartz vein float sample fields totalling 8.5km with new zones identified in the west of the property under thin cover at Pampa Paciencia, its flagship gold-silver project in northern Chile.
Over in North America, Bluestone Resources Incorporated (TSXV: BSR | OTCQB: BBSRF) received strong results of the feasibility study for its Cerro Blanco Gold Project in Guatemala.
President and CEO, Jack Lundin, said “The feasibility study highlights some of the best economics for a gold project seen in recent studies and is a major milestone on the path to the development of the Cerro Blanco mine, providing a blueprint for the detailed engineering phase and construction of the Project.”
In Western Australia, Galileo Mining Limited (ASX: GAL) unveiled its drill targets for the company’s upcoming programme at its Fraser Range project. The company is making final preparations to test the new targets, with a drill contractor expected to commence work in February.
Also in Western Australia, Red 5 Limited (ASX: RED) obtained high-grade results from multiple locations from drilling completed in 2021 at the Darlot Underground Mine, located in the Eastern Goldfields region of Western Australia.
Drilling news commenced with Chesapeake Gold Corporation (TSXV: CKG | OTCQX: CHPGF) obtaining promising results from the first five large diameter (PQ or 88 mm) infill core drill holes completed during the current drill programme at its flagship Metates gold-silver project in Durango, Mexico.
Newcore Gold Limited (TSXV: NCAU | OTCQX: NCAUF) obtained additional positive drill results from the 90,000m drill programme underway at the company’s 100% owned Enchi Gold Project in Ghana.
“These results include drilling completed on the southern end of the Sewum Gold Deposit which has extended the gold mineralization up and down dip, encountering high-grade gold in both near-surface oxides as well as in the deeper sulphides,” president and CEO, Luke Alexander, said.
Finally, Rumble Resources Limited (ASX: RTR) obtained significant new drilling results at the Chinook Zn-Pb-Ag-Cu Prospect located within the Earaheedy Project, 140km northeast of Wiluna, Western Australia. Managing Director, Shane Sikora, said the results include the most recent hole within the newly discovered high grade Kalitan Feeder Zone.
