Welcome to our roundup of last week’s prominent mining investment, exploration, and development stories on Theassay.com.
Cypress Development Corporation (TSXV: CYP | OTCQX: CYDVF) announced that it has entered into a definitive agreement with Enertopia Corporation (OTCQB: ENRT) to buy Enertopia’s Clayton Valley Lithium Claystone Project. The project is next door to Cypress’s own Clayton Valley Lithium Project in Nevada and the deal will bring the two together.
“We are excited to consolidate Enertopia’s project with our project, as it will add upside, and can easily be integrated into our mine plan,” stated Bill Willoughby, president and CEO of Cypress Development. “This is a strategic acquisition, and it will potentially aid in optimization, and production schedule development for our upcoming feasibility study.”
Roscan Gold Corporation (TSXV: ROS | OTCQB: RCGCF) has started undertaking a C$5M non-brokered private placement with strategic investors to advance the company’s 100%‐owned Kandiole Gold Project in West Mali.
“This new strategic investment will allow Roscan to continue to unlock value on our highly prospective land package, as we continue to advance discussions with additional cornerstone investors for up to 19.9% investment in the company,” said president, CEO, and director, Nana Sangmuah.
Exploration news kicked off with Kincora Copper Limited (TSXV: KCC) confirming and extending a new southern zone discovery at its Trundle Park prospect in NSW, Australia.
Over in Western Australia, St George Mining Limited (ASX: SGQ) has confirmed several positive developments with its exploration and development activities at its flagship high-grade Mt Alexander Project, located in the north-eastern Goldfields.
Executive Chairman, John Prineas, said the company is progressing on several fronts at Mt Alexander, which he has labelled as one of the most exciting emerging nickel sulphide projects in the world.
Drilling news commenced with Mako Gold Limited (ASX: MKG) receiving multiple high-grade intercepts in assay results from 25 reverse circulation (RC) holes from the ongoing 10,000m drill programme at the Gogbala Prospect, within the company’s flagship Napié Project in Côte d’Ivoire.
Summa Silver Corporation (TSXV: SSVR | OTCQB: SSVRF) provided an update regarding on-going drilling at its high-grade silver-gold Mogollon Property, near Silver City, New Mexico. The company stated that they had intersected visible mineralization in the Queen Vein with multiple holes at the project.
Galen McNamara, CEO, stated: “We are off to a strong start at Mogollon and the team is excited to continue testing the Queen Vein around the old Consolidated Mine where visual results so far have suggested the presence of significant mineralized zones. Meanwhile at the Hughes Project, drilling is scheduled to begin shortly.”
Surge Copper Corporation (TSXV: SURG) also identified a wide zone of mineralization in the results from 13 holes from the Seel Breccia Zone at the company’s 100% owned Ootsa Property in British Columbia.
Also in the news, Amerigo Resources Limited (TSX: ARG | ARREF: OTC) unveiled some strong financial results for the year and three months ended December 31, 2021.
These included a net income of US$39.8M, earnings per share (EPS) of US$0.22, EBITDA1 of US$90.1M and operating cash flow before changes in working capital of US$69.5M.
