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Business Wire
2 days ago
- Business
- Business Wire
Sierra Metals Calls Annual General and Special Meeting of Shareholders
TORONTO--(BUSINESS WIRE)-- Sierra Metals Inc. (TSX: SMT | OTCQX: SMTSF | BVL: SMT) (" Sierra Metals" or the " Company") today announces that it has called an annual general and special meeting (the " Meeting") of shareholders (the " Shareholders") to be held on July 29, 2025. In addition to the annual business to be conducted at the Meeting, the Meeting will also consider the matters set out in the notice of requisition (the ' Requisition ') that was delivered to the Company by Alpayana S.A.C. (the " Alpayana"), as further detailed in a press release disseminated by Alpayana on May 28, 2025. The record date for determining Shareholders entitled to receive notice of and to vote at the Meeting is June 23, 2025. The meeting date and the record date comply with the timelines requested by Alpayana in the Requisition. The Board of Directors of Sierra Metals (the " Board"), after consultation with its legal advisors, determined it is in the best interests of the Company to hold only one Shareholder meeting to conduct the annual business of the Company and consider the matters set out in the Requisition. Among other considerations deliberated by the Board, this avoids the cost of holding both a separate special meeting and annual general meeting in close proximity to one another while still allowing the Company to address the matters set forth in the Requisition. Further details about the Meeting, the matters to be presented thereat, and how to vote will be made available to Shareholders in advance of the Meeting, including in a management information circular to be mailed to Shareholders of record as of the record date. Shareholders are not required to take any action at this time in respect of the Meeting. The Board will continue to operate the business in accordance with its fiduciary duties and remains available to engage with Alpayana on a transition plan that is in the best interests of the Company's stakeholders. About Sierra Metals Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. The Company is intent on safely increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential. Forward-Looking Statements This news release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra Metals and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved" or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra Metals to be materially different from any anticipated performance expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading "Risk Factors" in the Company's annual information form dated March 26, 2025 for its fiscal year ended December 31, 2024 and other risks identified in the Company's filings with Canadian securities regulators, which are available at The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.
Yahoo
6 days ago
- Business
- Yahoo
Rio2 Virtual AGM Reminder
VANCOUVER, British Columbia, May 29, 2025 (GLOBE NEWSWIRE) -- Rio2 Limited ('Rio2' or the 'Company') (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) wishes to remind its shareholders that its forthcoming Annual General and Special Meeting of shareholders (the 'Meeting' or the 'AGM') will be held on June 4, 2025, at 11 a.m. ET. This will be an entirely virtual Meeting to be conducted via live webcast, where all shareholders, regardless of geographic location, will have an equal opportunity to participate online. Shareholders will not be able to attend the Meeting in person. The timing and process for voting are described in detail in the April 17, 2025, Notice of Availability of Proxy Materials mailed to shareholders and meeting materials available on SEDAR+ at and the Company's website at VOTING DEADLINE The voting deadline is 11:00 a.m. (ET) on Monday, June 2, 2025. PARTICIPATION AT THE MEETING Registered Shareholders and duly appointed proxyholders can participate in the Meeting in real-time online at by clicking 'Shareholder' and entering the 15-digit Control Number located on the form of proxy. Duly appointed proxyholders can participate in the Meeting by entering an invitation code provided by Computershare before the start of the Meeting. Voting at the Meeting will only be available for Registered Shareholders and duly appointed proxyholders. Non-registered shareholders who have not appointed themselves may attend the Meeting by clicking 'Guest' and completing the online form. Rio2 recommends that shareholders log in to the webcast at least 10 minutes prior to the virtual Meeting start time to ensure connectivity. Shareholders with questions about voting their shares or attending the Annual General Meeting (AGM) may contact the Company by email at info@ Your vote is important. Whether or not you plan to attend the Meeting virtually, please vote as soon as possible by one of the methods described in the proxy materials for the AGM to ensure that your shares are represented and voted at the AGM. ABOUT RIO2 LIMITED Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. Rio2 and its wholly owned subsidiary, Fenix Gold Limitada, are companies with the highest environmental standards and responsibility with the firm conviction that it is possible to develop mining projects that respect the three pillars (Social, Environment, Economics) of responsible development. As related companies, we reaffirm our commitment to apply environmental standards beyond those that are mandated by regulators, seeking to protect and preserve the environment of the territories that we operate in. To learn more about Rio2 Limited, please visit: or Rio2's SEDAR+ profile at ON BEHALF OF THE BOARD OF RIO2 LIMITED Alex BlackExecutive Chairman Email: +51 99279 4655 Kathryn JohnsonExecutive Vice President, CFO & Corporate SecretaryEmail: Tel: +1 604 762 4720 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Bear Creek Mining Reports Q1 2025 Financial and Operating Results
Vancouver, British Columbia--(Newsfile Corp. - May 27, 2025) - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) ("Bear Creek" or the "Company") reports its interim consolidated financial results for the three months ended March 31, 2025 ("Q1 2025"). This news release should be read in conjunction with the Company's interim consolidated financial statements and management discussion and analysis ("MD&A") for the three months ended March 31, 2025, which are available on SEDAR+ ( and the Company's website ( Monetary amounts in this news release are in United States dollars unless otherwise stated and all capitalized terms herein have the same meaning as defined in the Q1 2025 financial statements. Highlights During Q1 2025 and to the date of this release include, the Company: Produced 8,262 oz of gold and 36,466 oz of silver from its Mercedes mine in Q1 2025. Issued updated Mineral Resources and Mineral Reserves for the Mercedes Mine and filed a related Technical Report (as defined in NI 43-101). Completed a brokered private placement on a bought deal basis of 64,445,000 common shares of the Company at a price of C$0.225 per share wherein aggregate gross proceeds totaling $10 million (C$14.5 million) were raised (the "Offering"). Amended agreements with each of Sandstorm Gold Ltd. ("Sandstorm") and Equinox Gold Corp. ("Equinox") to temporarily defer, to December 2025, the payment of interest under certain outstanding debt arrangements otherwise due between February and November 2025. These debt amendments were approved by the TSX Venture Exchange ("TSX-V") on April 10, 2025. Initiated a strategic review process ("Strategic Review") to explore and evaluate the strategic and financial options available to the Company with the ultimate view of enhancing value. Mr. Christian Milau was engaged as a strategic advisor to the Board to assist with oversight of the Strategic Review. At the date of this MD&A an estimate of the financial effect of such Strategic Review on the Company's interim Q1 2025 financial statements cannot be determined. Announced the retirements of Mr. Andrew Swarthout and Ms. Sandra Daycock from the Company's board of directors (the "Board") and appointed Peter C. Mitchell and Ian Grundy to the Board. Announced the issuance of a secured promissory note to a wholly owned subsidiary of Sandstorm (the "2025 Sandstorm Note") in the principal amount of up to US$6.5 million, with Sandstorm committing up to US$600,000 per month of credit to the Company for working capital purposes. The 2025 Sandstorm Note was approved by TSX-V on May 8, 2025. Subsequent to the end of the quarter, funds in the amount of US$1.2 million were drawn down by the Company pursuant to the 2025 Sandstorm Note. Appointed Mr. Eduardo Flores in the position of Senior Vice President, Business Development. Selected Q1 2025 Financial and Production Results Mercedes Operating Highlights Three Months Ended March 31, 2025 Gold ounces produced 8,262 Silver ounces produced 36,466 Cash costs per gold ounce sold (1) $2,066 AISC per gold ounce sold (1) $2,646 Tonnes mined (thousands) 102,886 Tonnes processed (thousands) 105,611 Average gold grade mined (g/t) 3.00 Average gold grade processed (g/t) 2.56 Recovery rate gold 95% Gold ounces sold 7,870 Average realized gold price (2) $2,877 Development (meters) 2,469 Financial Results (thousands of dollars, except share and per share amounts) Three Months EndedMarch 31, 2025 Revenue $23,685 Comprehensive earnings (loss) after taxes $(13,355) Comprehensive earnings (loss) per share (3) $(0.06) Cash generated from (used in) operating activities $(3,172) Cash generated from (used in) investing activities $(5,888) Cash generated from (used in) financing activities $9,037 Weighted average shares during period 242,051,896 Shares issued and outstanding at end of period 292,175,785 (1) Non-GAAP Measure. Please see "Non-GAAP Measures" below for further information.(2) Inclusive of final settlement adjustments on sales for non-streamed ounces(3) Per share amounts are based on weighted average shares during the period Eric Caba, President & CEO, states, "Q1 2025 was focused on managing the transition to narrow vein mining at Mercedes, completing the Technical Report associated with the update to the Mineral Resources and Reserves at Mercedes, and launching the Strategic Review. We expect the transition at Mercedes to continue through the second quarter of 2025 as we work to resolve contractor issues and bring Marianas production in line with expectations to fully capitalize on the current robust gold markets. We are very pleased to have recently welcomed Eduardo Flores to the Bear Creek team as SVP, Business Development, and look forward to his contributions to our management team." Mercedes Mine, Mexico The Mercedes mine is a fully mechanized, ramp-access operation that produces gold and silver. Eleven individual deposits have been mined or are in production. Seven additional deposits have been identified and are in the early exploration or drill definition stage. Additional mineralized zones proximal to existing workings have been identified and are at the exploration or drill definition stage. Exploration During Q1 2025, the Company continued with its Mineral Resource delineation and infill drilling program with a particular focus on the Marianas deposit, as well as ongoing work at Diluvio West, San Martin, and Neo. This drilling is intended to provide increased confidence in the Mineral Resource classification categories, ultimately reducing risk during Mineral Resource to Reserve conversion and subsequent mine planning stages. Through the first quarter the 2025 brownfields Mineral Resource surface exploration and extension drilling program commenced on Diluvio Northwest. In parallel, underground Mineral Resource delineation and/or conversion drilling began at the Marianas, Diluvio West, San Martin, and Neo deposits. Mineral Resource delineation and/or conversion drilling expenditures were $0.4 million during the quarter. Mineral Resource and Mineral Reserve Updates Updated and improved geological and block models prepared by the Company in 2024 formed the basis of updated Mercedes Mineral Resource and Mineral Reserve estimates (the "2024 Estimates") announced by the Company on January 29, 2025 and supported by the Technical Report entitled "NI 43-101 Technical Report, Mercedes Gold - Silver Mine, Sonora State, Mexico", dated effective September 30, 2024 and filed on March 14, 2025, both of which are available on the Company's website and on SEDAR+. Development During Q1 2025, 2,469 meters of development were achieved at the Mercedes Mine. The management team has finalized ventilation designs for the Marianas deposit and the installation of a ventilation raise is expected to be completed during the third quarter of 2025. Production Mercedes' production during Q1 2025 was primarily garnered from the San Martin deposit, with lesser contributions from Marianas, Diluvio, Rey de Oro Alta and Barrancas. The reduced ore throughput in Q1 2025, as compared with previous periods, is primarily a result of significant underperformance by a contractor engaged in late 2024 to provide specialized narrow vein mining equipment (to reduce dilution) and personnel. This contractor underperformance delayed advancement of the Marianas and Rey de Oro deposits planned for the Q1 2025, which negatively impacted the grade and tonnes mined during the quarter. The lower than planned Q1 2025 ore production from Marianas was partially offset by accelerated pillar recovery at the San Martin deposit. The Mercedes Mine had no fatalities, no lost time incidents, and no reportable environmental incidents during the quarter ended March 31, 2025. As of the date of this news release, Bear Creek has not provided production guidance for the Mercedes Mine for 2025. Corani Project Activities at the Corani Property during Q1 2025 focused primarily on assessment of the Oxides opportunity, continuation of a geometallurgical test program, and ongoing community support initiatives. Oxides Opportunity The Company believes the Oxides - near-surface, silver-rich oxidized material that occurs within the Este, Main and Minas deposits at Corani as outlined in the 2019 Corani Report - provide an exciting opportunity to add silver resources to the Corani mineral inventory, and potentially extend the anticipated Corani mine life, but that additional work is required to fully develop the scope of this opportunity. Subsequent to the quarter-end, the Company announced that as it is engaged in its Strategic Review process, such additional work will not be undertaken at this time, and hence it will not proceed with completion of an economic study related to the Oxides. Additional details regarding the Oxides opportunity are provided in the Company's news release dated September 9, 2024. Social and Environmental Initiatives During Q1 2025 the Company continued environmental monitoring of the area around the Corani camp and the within the Corani Property. New and Restructured Debt On April 10, 2025, Sandstorm, Equinox and the Company executed agreements to defer the monthly interest payments on the certain existing debt agreements, whereby monthly interest payments payable from and including February 2025 to November 2025, are deferred until December 31, 2025 (the "Deferred Interest"). Interest automatically accrues on the Deferred Interest at the same rate applicable to the principal under the debt agreements, such rate being 7% per annum, compounded monthly, and the Deferred Interest and any accrued and unpaid interest thereon is payable in full on December 31, 2025. All other terms of the debt agreements remain unchanged and in full force and effect. After receiving TSX-V approval on May 8, 2025, the Company issued a secured promissory note to a wholly owned subsidiary of Sandstorm (the "2025 Sandstorm Note") in the principal amount of up to US$6.5 million (the "Credit Extension"), with Sandstorm committing up to US$600,000 per month of credit to the Company for working capital purposes. The 2025 Sandstorm Note contains substantially similar terms to the Sandstorm Promissory Note, including a maturity date of September 22, 2028, an interest rate of 7% per annum and a conversion price of C$0.73 per common share (or such greater price as may be required by the TSX-V). Additional details regarding the terms of the 2025 Sandstorm Note are available in the Company's news release dated May 8, 2025. Overview of Results of Operations, Liquidity and Capital Resources For the three months ended March 31, 2025, the Company recorded revenue of $23.7 million from the sale of gold and silver. The cost of goods sold was $16.3 million and depletion, amortization and depreciation amounted to $9.3 million. During Q1 2025 the Company had a gross loss of $1.9 million and an operating loss of $5.5 million. After operating expenses, other income and expenses, changes in the fair value of the financial instruments (principally due to higher gold prices), and tax expenses and recoveries, the Company recorded a comprehensive net loss of $13.3 million ($0.06 per share) for Q1 2025 During the three months ending on March 31, 2025, with the focus to improve liquidity, the Company completed the Offering - a bought deal private placement of 64,445,000 common shares at a price of C$0.225 per share for aggregate gross proceeds of $10 million (C$14.5 million). At March 31, 2025 the Company held cash and cash equivalents and short terms investments totaling $6.7 million. During Q1 2025, operating activities used $3.2 million, investing activities used $5.9 million and financing activities generated $9.0 million in cash. At March 31, 2025, the Company's net working capital deficiency (current assets less current liabilities) was $88.2 million (compared to $97.0 million at December 31, 2024). Significant amounts contributing to the March 31, 2025 net working capital deficiency are $30.0 million in accounts payable, $22.1 million in current portion of Note payable, $8.8 million in current portion of stream arrangements, and $48.8 million in convertible debentures and notes. The Company's interim consolidated financial statements for the three months ended March 31, 2025 were prepared following accounting principles applicable to a going concern, which assumes the Company will be able to continue in operation for at least twelve months from March 31, 2025 and will be able to realize its assets and discharge its liabilities in the ordinary course of operations. Despite completing the Offering and taking other measures to improve liquidity, material uncertainty remains in relation to the ability of the Company to achieve the operating results and cash flow generation from the Mercedes mine necessary to avoid seeking additional financing, which gives rise to significant doubt about the Company's ability to continue as a going concern. There can be no assurance that the steps management is taking to improve the Company's liquidity will be successful. The Company's interim condensed consolidated financial statements for the three months ended March 31, 2025 do not include adjustments to the carrying values of the assets and liabilities, the reported revenues and expenses, and the balance sheet classifications used, should the Company be unable to continue as a going concern. These adjustments could be material. Non-GAAP Measures This news release includes disclosure of certain financial measures or ratios, as such terms are used in National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosure, including Cash Costs and AISC. These Non-GAAP financial measures are not standardized financial measures under IFRS Accounting Standards, as issued by the International Accounting Standards Board ("IFRS Accounting Standards"), and might not be comparable to similar measures presented by other companies. The Company believes that these measures and ratios provide investors with an improved ability to evaluate the prospects of the Company as they provide additional information related to operating performance and are widely used in the mining industry. The Company has adopted the practice of calculating a performance measure consisting of the net cost of producing an ounce of gold after deducting revenues gained from silver by-product production. Cash Cost and AISC are calculated per ounce of gold sold net of credits for realized silver revenues. The Company adds the governmental royalty of 1% for special mining law (0.5% in 2024), third-party net smelter royalties and adjustments for finished goods related to the increase or decrease in remaining inventory to the cost of production. Other adjustments may be made as required. For further information regarding these Non-GAAP financial measures including reconciliations of these measures to the applicable costs items as reported in the consolidated financial statements for the respective periods, please see the information under the heading "Cash Cost and All-in-Sustaining Cost ("AISC") for Mercedes" in the Company's MD&A for the three months ended March 31, 2025 (available on the Company's website and on SEDAR+). On behalf of the Board of Directors, Eric CabaPresident and CEO For further information contact:Barbara Henderson - VP Corporate CommunicationsDirect: 604-628-1111E-mail: barb@ to Bear Creek Mining news NI 43-101 Disclosure Unless otherwise indicated, scientific and technical information in this news release is based on work programs and initiatives conducted under the supervision of, and has been reviewed and approved by, Donald Mc Iver, Fellow SEG and Fellow Aus-IMM. Mr. Mc Iver is Vice President, Exploration and Geology of Bear Creek Mining Corporation and is a qualified person ("Qualified Person" or "QP") as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Additional information related to the Mercedes Mine and the Corani Project, including the Quality Assurance and Quality Control measures applied to the Company's sampling and assaying practices, is available in its Annual Information Form for the year ended December 31, 2024, available on its website and on SEDAR+. Cautionary Statement Regarding Forward-Looking Information This news release contains forward-looking statements regarding: the deferral of interest payments under the 2025 Debt Arrangements until December 31, 2025; the payment of the Deferred Interest on December 31, 2025; the Credit Extension and the 2025 Sandstorm Note; the Strategic Review process; the purpose and potential outcomes of Mercedes exploration drilling programs; plans for Mercedes; anticipated 2025 Mercedes mining plans and sources of production; Mercedes' 2025 development and capital investment plans; potential benefits and impacts of the Oxides material on the Corani project resources and reserves, forecasted production and mine life; the requirement for additional analysis to fully understand the potential benefits of the Oxides on the Corani project; future resolution and/or recourse related to the contractor underperformance and delays in procurement of equipment and personnel and the delivery of mining services at the Marianas deposit; the Strategic Review; and the Company's ability to remain a going concern. These forward-looking statements are provided as of the date of this news release and reflect predictions, expectations or beliefs regarding future events based on the Company's beliefs at the time the statements were made, as well as various assumptions made by and information currently available to them. In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including, but not limited to, assumptions related to the Company's operating results, business objectives, goals and capabilities. Although management considers the assumptions underlying its forward-looking statement to be reasonable based on information available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and the risk exists that estimates, forecasts, projections, and other forward-looking statements will not be achieved or that assumptions on which they are based do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the expectations expressed in them. These risk factors may be generally stated as the risk that the assumptions expressed above do not occur, but may include additional risks as described in the Company's latest Annual Information Form, and other disclosure documents filed by the Company on SEDAR+. The foregoing list of factors that may affect future results is not exhaustive. Investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on behalf of the Company, except as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit
Malaysian Reserve
26-05-2025
- Business
- Malaysian Reserve
SILVER MOUNTAIN ANNOUNCES NEW CFO
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN OR INTO THE UNITED STATES/ TORONTO, May 26, 2025 /CNW/ – Silver Mountain Resources Inc. (TSXV: AGMR) (OTCQB: AGMRF) (BVL: AGMR) ('Silver Mountain' or the 'Company') is pleased to announce the appointment of Oliver Foeste as Chief Financial Officer of the Company, effectively immediately. Mr. Foeste is the founder and Managing Partner of Invictus Accounting Group LLP ('Invictus') and has significant executive, director, finance, and public company compliance experience across a number of industry sectors including mining. Mr. Foeste currently holds strategic CFO roles for a select number of private and public companies, and previously held senior management and executive positions in multinational and small capitalization companies listed on Toronto Stock Exchange, TSX Venture Exchange, and New York Stock Exchange. Prior to founding Invictus, Mr. Foeste earned his CPA at Deloitte and a boutique tax advisory firm. 'We are excited to welcome Oliver as Chief Financial Officer of the Company. His knowledge of the resource sector combined with his strong background in finance and accounting will be invaluable to Silver Mountain as we continue to develop our projects,' said Alvaro Espinoza, Chief Executive Officer of the Company. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, 'forward-looking statements') that relate to Silver Mountain's current expectations and views of future events. Any statements that express or involve discussions as to expectations, beliefs, plans, objectives, assumptions, or future events or performance (often, but not always, through the use of words or phrases such as 'will likely result,' 'are expected to,' 'expects,' 'will continue,' 'is anticipated,' 'anticipates,' 'believes,' 'estimated,' 'intends,' 'plans,' 'forecast,' 'projection,' 'strategy,' 'objective' and 'outlook') are not historical facts and may be forward-looking statements and may involve estimates, assumptions, and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct, and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Silver Mountain's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors set forth under 'Caution Regarding Forward-Looking Statements' and 'Risk Factors' in the Company's Annual Information Form dated April 26, 2024, and other disclosure documents available on the Company's profile on SEDAR+ at Silver Mountain undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Silver Mountain to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
Yahoo
26-05-2025
- Business
- Yahoo
PPX Mining Announces an Extension of the Drill Program for the Callanquitas Gold-Silver Deposit
TORONTO, ON / / May 26, 2025 / PPX Mining Corp. (TSXV:PPX)(BVL:PPX) (the "Company" or "PPX")is pleased to announce a significant expansion of its ongoing diamond drilling campaign. The current program, originally planned for 2,300 meters, has been extended to a total of 4,200 meters. This extension aims to meaningfully increase the Company's mineral resource base at its Callanquitas Mine. Highlights: The decision to extend the drilling program was jointly made by PPX's geological team and their counterparts at Proyectos La Patagonia S.A.C., the Company's mining partner at the Callanquitas Mine. The drilling of the Callanquitas West structure ("CW"), parallel formation to the Eastern structure which has been mined to date, will be extended with the objective of establishing a resource. The CW structure has a surface expression showing high-grades and the southern extension has been mined in the past. The first two holes (see press release dated May 13th, 2025) showed the presence of oxidized breccia with significant gold grades and appears to mirror the Callanquitas East structure. The drilling plan for the area where a tensional fault was identified in 2024 and reported in a press release dated March 7 (hole CA-24-07) has been extended as this zone appears to have potential for high grade sulfide ore, as the drill results gave a 9.2 meters intersection with 10.3 g/t gold and 1670 g/t silver. Drilling will be completed for two more holes targeting CW, the drill will then be moved to drill the area of the tensional fault. All drilling will be carried out from underground, two drill chambers are ready for use, a third will be excavated for drilling the northern end of CW. Using underground drilling reduces the length of the drill holed required and eliminates any delays associated with permitting surface drilling. The cost of the extended program is estimated to be US$1,215,000, including taxes. All scientific and technical information contained in this press release has been reviewed and approved by Eddy Canova, PGeo., External Consulting Geologist of PPX Mining Corp., who is a qualified person within the meaning of National Instrument 43-101. On behalf of the Board MembersJohn ThomasChief Executive Officer82 Richmond Street EastToronto, Ontario M5C 1P1Canada416-361-0737 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain disclosures in this release may constitute "forward-looking statements" within the meaning of the United States Securities Litigation Reform Act of 1995 and the Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that it believes are reasonable. However, forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties are detailed from time to time in the Company's filings with relevant securities commissions, and may include, but are not limited to, market conditions, and delays in obtaining or failing to obtain regulatory approvals or financing. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking statements. The Company has no intention, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. SOURCE: PPX Mining Corp. View the original press release on ACCESS Newswire Sign in to access your portfolio
