Latest news with #Capitan
Yahoo
4 days ago
- Business
- Yahoo
Capitan Silver Completes the Purchase of the Altiplano Royalty at the Cruz de Plata Project
Vancouver, British Columbia--(Newsfile Corp. - June 11, 2025) - Capitan Silver Corp. (TSXV: CAPT) ("Capitan" or the "Company") is pleased to announce that it has completed the purchase of the Altiplano royalty (NSR) at the Cruz de Plata Project, from Exploraciones del Altiplano (Altiplano), originally announced on January 13, 2022 and amended on January 24, 2025. The Altiplano Net Smelter Royalty (NSR) ranged up to 2% on the original Cruz de Plata property package. The NSR covered a number of key targets including the current gold-silver resource areas at Capitan Hill and Jesús María. The NSR also had a punitive Area of Interest (AOI) clause, which would allow for the royalty to extend onto any subsequent land acquisitions that bordered the original properties that were acquired from Altiplano. The royalty was eliminated through a series of cash and share payments which totalled $1M USD. The remaining royalties on Capitan's Cruz de Plata project are under contract to be retired and eliminated under favorable terms for Capitan and its shareholders. See details below: As part of the previously announced transaction to consolidate the Jesus Maria silver trend at Cruz de Plata Peñoles (See PR dated Dec 22, 2022), Peñoles received a 1% royalty that can be retired by Capitan at any point over the next 10 years for a cash payment of $1M USD As part of the asset spinout transaction in 2020 that created Capitan Silver, Riverside Resources received a 1% royalty. This royalty can be retired by a cash payment of C$250,000 at any time. 'We firmly believe that Cruz de Plata has the potential to generate substantial value for our shareholders. Eliminating all royalties on the project is a strategic decision that aligns with our commitment to maximizing shareholder returns,' said Alberto Orozco, President & CEO. About Capitan Silver Corp. Capitan Silver (TSXV: CAPT) is a Canadian exploration company focused on advancing its Cruz de Plata silver gold project located in Durango, Mexico. The Company is led by a management team that has successfully advanced and developed several precious-metal operations in Mexico over the past 16 years. More information for the Company can be found at ON BEHALF OF CAPITAN SILVER CORP. "Alberto Orozco" Alberto Orozco, CEO For additional information contact: Alberto OrozcoCEOCapitan Silver (788) IR TeamCapitan Silver (778) Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect", "estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Capitan in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. 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. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
Riverside Resources Inc. Completes Spin-Out of Blue Jay Gold Corp. Shares
Vancouver, British Columbia--(Newsfile Corp. - May 22, 2025) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside") and Blue Jay Gold Corp. ("Blue Jay") are pleased to announce that they have completed the plan of arrangement (the "Arrangement") which was previously discussed in Riverside's press release dated January 28, 2025, with the arrangement to spin out the shares of Blue Jay to the shareholders of Riverside, effective Thursday, May 22, 2025. Pursuant to the Arrangement, holders of common shares of Riverside on the date hereof have received one new common share of Riverside (each, a "Riverside Share") and 1/5th of one common share of Blue Jay (each, a "Blue Jay Share") for each common share of Riverside held. The new Riverside Shares will commence trading on the TSX Venture Exchange (the "TSXV") at the market opening on Monday, May 26, 2025. The CUSIP numbers for the new Riverside Shares and the Blue Jay Shares are 76927E109 and 095925103, respectively. "The completion of the Blue Jay spinout marks a significant milestone in Riverside's ongoing strategy to unlock value through disciplined corporate development and capital deployment," said John-Mark Staude, President & CEO of Riverside. "We believe that Blue Jay, with its strong portfolio of Canadian gold assets, dedicated management team, and clean capital structure, is well-positioned for exploration and growth. This spinout not only provides Riverside shareholders with direct exposure to a focused new exploration company, but it also reinforces Riverside's track record of creating value through strategic actions that serve the company and shareholders. This approach was notably demonstrated with the successful spinout of Capitan Silver, which has delivered additional value to our shareholders since its launch. We are proud to have launched Blue Jay and look forward to its success as a stand-alone public company." Immediately prior to the Arrangement, on May 22, 2025, Riverside and Blue Jay entered into an amendment (the "Amendment") to the arrangement agreement dated January 27, 2025 (the "Arrangement Agreement"). Pursuant to the Amendment, Riverside and Blue Jay may waive certain conditions set forth in the Arrangement Agreement. All other terms and conditions of the Arrangement Agreement remain unchanged. Blue Jay is expected to make an application to list its shares on TSXV. This share reorganization follows a structure similar to Riverside's previous transaction with Capitan Silver Corp. ("Capitan"). In that prior case, the shares saw positive appreciation, and both Riverside and Capitan advanced their respective business strategies. Following the Arrangement, Blue Jay will be a reporting issuer in Alberta, British Columbia and Ontario and will meet and comply with all of its timely and continuous disclosure requirements, as required under applicable Canadian securities laws. Blue Jay's public disclosure documents will be made available and filed on Blue Jay's profile on SEDAR+ at "Blue Jay is launching with a clear and compelling mandate to build long-term shareholder value through focused gold exploration in Canada, one of the world's most stable and well-endowed mining jurisdictions," commented Geordie Mark, CEO of Blue Jay. "Our initial asset base includes high-quality projects with significant discovery potential and our team brings deep technical expertise, capital markets experience, and a commitment to disciplined exploration. With the strong support of Riverside and our broader shareholder base, we are hitting the ground running, well capitalized and ready to execute. I am excited about the opportunities ahead and confident in our ability to deliver results." About Riverside Resources Inc. Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside's own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company's website at About Blue Jay Gold Corp Blue Jay Gold Corp. is a Canadian gold exploration company focused on high-grade discovery in Ontario's prolific Beardmore-Geraldton and Wawa Greenstone Belts, regions known for hosting numerous past-producing and active gold mines. The Company's flagship asset, the Pichette Project, features extensive banded iron formation (BIF) trends and high-grade historical gold intercepts, offering near-surface discovery potential. With three strategically located projects and a leadership team experienced in geology and capital markets, Blue Jay Gold is advancing a disciplined, modern exploration strategy in one of Canada's most prospective and mining-friendly jurisdictions. ON BEHALF OF RIVERSIDE RESOURCES INC. "John-Mark Staude" Dr. John-Mark Staude, President & CEO ON BEHALF OF BLUE JAY GOLD CORP. "Geordie Mark" Geordie Mark, President & CEO For additional information contact: John-Mark StaudePresident, CEORiverside Resources Inc. info@ (778) 327-6671Fax: (778) 327-6675Web: Eric NegraeffInvestor RelationsRiverside Resources (778) 327-6671TF: (877) RIV-RES1Web: Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Forward-looking statements in this press release include, but are not limited to, statements regarding the completion of the Arrangement and regulatory approval to the listing of the Blue Jay Shares. Such information involves known and unknown risks -- including the availability of funds, that the listing of the Blue Jay Shares on the TSXV is subject to the approval of the TSXV which may not be obtained on terms acceptable to Blue Jay or at all, the ability of Blue Jay to raise sufficient capital to pursue its growth strategy and meet the listing requirements of the TSXV and, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside and Blue Jay in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. 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. To view the source version of this press release, please visit Error 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
Forbes
31-03-2025
- Business
- Forbes
Meet The Investor Betting Millions On 'Dangerous Founders'
'This sucks. ' Promise Phelon still remembers the sting of those words. She had spent countless nights and long hours perfecting her preparation, only to be torn down in front of the room. Back then she was a rising executive at the software conglomerate BEA Systems, standing before the company's top brass, walking them through a PowerPoint she had labored over. Then came the curveball – a division president asked her who the company's most profitable customers were. Phelon didn't have the answer, and in that moment learned a harsh but invaluable lesson in accountability. 'What I got from that experience,' Phelon tells Forbes, 'rejection, someone yelling at you, someone being unhappy – it's just part of this process.' Phelon eventually identified BEA's profitable customers, and the company sold to Oracle in 2008 for $8.5 billion. Today, Phelon, 49, is the founder and managing partner of venture firm Growth Warrior Capital, a venture firm based on the same no-nonsense approach that once knocked her down. Only now she uses it to uplift underrepresented entrepreneurs. In February, Growth Warrior closed on its first fund of $26 million. Investors include Bank of America and Pivotal Ventures (founded by Melinda French Gates), the George Kaiser Family Foundation, Mellody Hobson and George Lucas Family Foundation. Individual investors include Seth Levine and Brad Feld, who co-founded the venture firm Foundry. Phelon launched Growth Warrior in 2020 in Charlotte, North Carolina, with a mission to back bold, overlooked founders. The firm writes checks up to $3 million, and has already built a portfolio of 11 companies. Among them: Capitan, an AI insurance claim platform that raised $104 million, and ForceMetrics, an AI platform for first responders. With remaining capital, Growth Warrior will target startups with AI features for industrial jobs, including manufacturing, mining, plumbing, and recycling. Phelon calls the entrepreneurs 'dangerous founders,' – seasoned operators with decades of experience in jobs that are not glamorous. Phelon launched Growth Warrior in 2020 in Charlotte, North Carolina, with a mission to back bold, overlooked founders. The firm writes checks up to $3 million, and has already built a portfolio of 11 companies. Among them: Capitan, an AI insurance claim platform that raised $104 million, and ForceMetrics, an AI platform for first responders. With remaining capital, Growth Warrior will target startups with AI features for industrial jobs, including manufacturing, mining, plumbing, and recycling. Phelon calls the entrepreneurs 'dangerous founders,' – seasoned operators with decades of experience in jobs that are not glamorous. 'They're great at doing more with less,' Phelon says. 'You don't expect them to be dangerous. They learn a lot, and they learn it quickly.' Phelon discussed Growth Warrior Capital and its vision on The Enterprise Zone, a new magazine-style business show developed by Forbes. The weekly show, recorded at the Nasdaq MarketSite in New York City, will offer captivating conversations with influential figures, including top athletes, prominent CEOs, entertainers, and visionary entrepreneurs. The Enterprise Zone, a new magazine-style business show developed by Forbes. The weekly show, recorded at the Nasdaq MarketSite in New York City. Forbes The market for Gen AI software is worth $150 billion, according to Goldman Sachs. To understand how investors examine the AI software market, consider it in layers. Starting at the bottom is the foundation – large language models (LLM). These companies include OpenAI, Anthropic, xAI, and Chinese AI startup DeepSeek. 'The core of what's causing the (Gen AI) transformation,' Phelon explains. The middle layer is connectivity, or companies figuring out how to connect mountains of data to LLMs. At the top, applications like ForceMetrics that are leveraging the layers below. 'It's the biggest part of the potential market,' Levine says when discussing his investment in Growth Warrior. 'That's where she (Phelon) is investing.' The daughter of a U.S. Marine and professional golfer, Phelon grew up in The Colony, Texas, a small city outside of Dallas. By age five, she abandoned her dreams of becoming a doctor after discovering the word entrepreneur, largely thanks to her uncle. 'He basically said, 'It's a person who finds a solution to any problem,' Phelon says. 'I thought, I want to be that.' She then spent hours contemplating business ideas. 'Everything from the lemonade stand to learning how to make pizza and sell pizzas, I did it all.' Phelon's entrepreneurial spirit intensified at Southern Methodist University, where she triple-majored in chemistry, religious studies, and marketing. As a student, Phelon started a business writing press releases for doctors – a side-hustle that generated revenues of $600,000, according to a 2012 Forbes contributor profile. After earning an MBA from Pepperdine University, Phelon returned to BEA to soak up more corporate knowledge. By 2015, she reached CEO status leading a social media influencer company TapInfluence, which sold to Nasdaq-listed IZEA Worldwide in 2018 for $7.6 million. 'They're great at doing more with less,' Phelon says. 'You don't expect them to be dangerous. They learn a lot, and they learn it quickly.' Phelon discussed Growth Warrior Capital and its vision on The Enterprise Zone, a new magazine-style business show developed by Forbes. The weekly show, recorded at the Nasdaq MarketSite in New York City, will offer captivating conversations with influential figures, including top athletes, prominent CEOs, entertainers, and visionary entrepreneurs. The market for Gen AI software is worth $150 billion, according to Goldman Sachs. To understand how investors examine the AI software market, consider it in layers. Starting at the bottom is the foundation – large language models (LLM). These companies include OpenAI, Anthropic, xAI, and Chinese AI startup DeepSeek. 'The core of what's causing the (Gen AI) transformation,' Phelon explains. The middle layer is connectivity, or companies figuring out how to connect mountains of data to LLMs. At the top, applications like ForceMetrics that are leveraging the layers below. 'It's the biggest part of the potential market,' Levine says when discussing his investment in Growth Warrior. 'That's where she (Phelon) is investing.' The daughter of a U.S. Marine and professional golfer, Phelon grew up in The Colony, Texas, a small city outside of Dallas. By age five, she abandoned her dreams of becoming a doctor after discovering the word entrepreneur, largely thanks to her uncle. 'He basically said, 'It's a person who finds a solution to any problem,' Phelon says. 'I thought, I want to be that.' She then spent hours contemplating business ideas. 'Everything from the lemonade stand to learning how to make pizza and sell pizzas, I did it all.' Phelon's entrepreneurial spirit intensified at Southern Methodist University, where she triple-majored in chemistry, religious studies, and marketing. As a student, Phelon started a business writing press releases for doctors – a side-hustle that generated revenues of $600,000, according to a 2012 Forbes contributor profile. After earning an MBA from Pepperdine University, Phelon returned to BEA to soak up more corporate knowledge. By 2015, she reached CEO status leading a social media influencer company TapInfluence, which sold to Nasdaq-listed IZEA Worldwide in 2018 for $7.6 million. Watch the Promise Phelon conversation on The Enterprise Zone (LINK).
Yahoo
31-03-2025
- Business
- Yahoo
Capitan Silver Corp Announces the Commencement of Drilling at Its Cruz De Plata Project
Vancouver, British Columbia--(Newsfile Corp. - March 31, 2025) - Capitan Silver Corp. (TSXV: CAPT) ("Capitan" or "the Company") is pleased to announce it has commenced drilling at its Cruz de Plata silver-gold project, located in Durango, Mexico. As previously announced on March 3, 2025, the Phase 1 exploration program will target an initial 10,000 metres of reverse circulation (RC) drilling and will be focused on high-priority silver targets that have been identified to date from previous work programs. The following priorities will be included in the Phase 1 exploration program: Figure 1. First reverse-circularion drill hole of 2025 at Capitan Silver's Cruz de Plata silver-gold project in Durango, Mexico. Hole is testing Jesus María vein. To view an enhanced version of this graphic, please visit: Phase 1 drill program and planned work Definition and step out drilling of high-grade silver mineralization at Jesus Maria: Since the conclusion of drilling in 2022, surface sampling in 2023 and 2024 has continued to outline and confirm continuity of high-grade silver veins and structures on surface, with grab samples returning values between 200 and 913 g/t Ag on the recently acquired Fresnillo claims. New interpretations have linked this new zone of mineralization with the Jesus María vein, expanding the surface footprint of high-grade silver mineralization to 2.6km in strike, with 1.3km already confirmed to date in shallow, widely-spaced drilling. Previously announced drill highlights include: JM_DDH_13_06: 0.9m of 3,567 g/t AgEq within a wider interval of 13.7m of 381.06 g/t AgEq 22-JMRC-22: 1.5m of 1,431.68 g/t AgEq within a wider interval of 10.7m of 314.54 g/t AgEq 21-JMRC-03: 1.5m of 739.6 g/t AgEq, and 1.5m of 800.0 g/t AgEq and 1.5m @ 595.5 g/t AgEq within a wider interval of 10.7m @ 403.43 g/t AgEq The 2025 Phase 1 drilling program will focus on delineating high-grade Silver mineralization on the recently acquired Fresnillo claim, which has seen very little historic drilling. Mineralization along this zone remains open along strike, down-dip and towards surface (See zone A in Figures 1 & 2 below). Step out drilling along the Gully Fault zone to the northeast (NE): The Gully Fault zone is of particular interest as it is a younger style of mineralization that overprints the high-grade, silver-polymetallic veins at Jesus Maria. The Gully Fault has a different style of mineralization which is characterized by high grade silver with gold. Previous drilling has intersected impressive silver grades with previously announced drill highlights including: JM_DDH_14_24: 7.15m of 1,024.4 g/t AgEq within a wider interval of 42.0m of 244.72 g/t AgEq 21-JMRC-01: 1.5m @ 1,099.3 g/t AgEq and 1.5m @ 1,267.2 g/t AgEq within a wider interval of 42.7m @ 207.82 g/t AgEq 21-JMRC-10: 1.5m @ 2,250.1 g/t AgEq within a wider interval of 16.8m @ 309.82 g/t AgEq For the 2025 phase 1 drill program, the Company intends to continue tracing Gully Fault style, high-grade silver-gold mineralization down-plunge to the southwest, as well as evaluate its potential to the northeast, especially where it is interpreted to intersect the east-west trending Santa Theresa Fault. Grab samples in this area of limited outcrop exposure have returned values ranging from 150 to 460 g/t Ag. Numerous, historic pits and mine workings have also been located along this trend (See zone B in Figures 2 & 3 below). Develop drill targets on parallel silver mineralized structures to the north of Jesus Maria: Additional work programs will be focused on advancing drill targets on secondary mineralized structures that occur parallel to the north of the main Jesus Maria silver trend. In total there are 8 silver mineralized structures that have been identified at Cruz de Plata for a cumulative strike of 7km. The Jesus Maria vein is the most advanced. The goal of this work program would be to focus on target generation and preparing these prospective structures for future drilling (See zone C in Figure 2 below). Capitan Silver's CEO has stated "It is great to have the rig active at Cruz de Plata testing the targets that our team has defined or further refined over the last months. We are excited to be active with drilling following up on the great results we had previously, starting with testing the expansion of our two most advanced silver targets: Jesus Maria and Gully Fault. I am very confident of the high quality these targets have already shown with previous drilling and look forward to drill assays in coming weeks and months as we continue to add value to Cruz de Plata." Figure 2. Vertical long section of Cruz de Plata high-grade silver trend. To view an enhanced version of this graphic, please visit: Figure 3. Target map of Cruz de Plata project showing exploration priorities for the Phase I exploration program in this release. A) On-strike extension to the East of Jesus María vein; B) NE on-strike extension of Gully Fault zone; C) Additional surface work to refine new drill targets north of Jesús María vein; D) Resource update of Capitan hill disseminated oxide gold deposit. To view an enhanced version of this graphic, please visit: About Capitan Silver Corp. Capitan Silver (TSXV: CAPT) is a Canadian exploration company focused on advancing its Cruz de Plata silver gold project located in Durango, Mexico. The Company is led by a management team that has successfully advanced and developed several precious-metal operations in Mexico over the past 16 years. Overview: Cruz de Plata Silver Project The 2,551-hectare Cruz de Plata Silver-Gold project is located within the Altiplano region of the State of Durango, one of the safest States in Mexico in recent years. Access to the project site is excellent from either Durango or Torreon, with exploration permitted year round. The project area is the birthplace of the Peñoles Mining Company with historic mining dating back to 1887. These historical mines are contained within a well-defined, outcropping, high-grade silver trend and include the Jesús María (2.5Km strike length), Santa Teresa (1.8Km length), San Rafael North (1.3Km) vein trend. These veins are believed to be part of a much larger Intermediate sulfidation system that stretches across the Cruz de Plata property. Grades from historic mining along with these veins ranged from 300 to 2,000 g/t Ag, 3-12% Pb, and 4-10% Zn. The style of mineralization at the Cruz de Plata Silver belt is mostly Intermediate sulfidation. Drilling by the Company and previous operators has focused mostly on the Jesús María vein system as well as along cross-cutting Gully Fault Ag-Au zone. Drill highlights include: JM_DDH_13_06: 0.9m of 3,567 g/t AgEq within a wider interval of 13.7m of 381.06 g/t AgEq 21-JMRC-10: 1.5m @ 2,250.1 g/t AgEq within a wider interval of 16.8m @ 309.82 g/t AgEq 21-JMRC-01: 1.5m @ 1,099.3 g/t AgEq and 1.5m @ 1,267.2 g/t AgEq within a wider interval of 42.7m @ 207.82 g/t AgEq 22-JMRC-22: 1.5m of 1,431.68 g/t AgEq within a wider interval of 10.7m of 314.54 g/t AgEq JM_DDH_14_24: 7.15m of 1,024.4 g/t AgEq within a wider interval of 42.0m of 244.72 g/t AgEq JM_DDH_13_07: 2.0m of 970.77 g/t AgEq within a wider interval of 6.0m of 368.3 g/t AgEq including 21-JMRC-03: 1.5m of 739.6 g/t AgEq, and 1.5m of 800.0 g/t AgEq and 1.5m @ 595.5 g/t AgEq within a wider interval of 10.7m @ 403.43 g/t AgEq JM_DDH_14_10: 4.3m of 786.5 g/t AgEq within a wider interval of 40.6m of 160.05 g/t AgEq (1) Silver equivalent calculated using the following equation: Ageq = (Ag x 0.94) + (Au x 0.86 x 80) + (Zn x 0.037 x 0.935) + (Pb x 0.03 x 0.92)(2) For further detail see appendix 1 and 2 and press releases dated February 16 2022, 08 March 2022, May 02 2022, June 29, 2022, January17, 2023.(3) AgEq grades are now calculated using metal recoveries. Intervals from historic press releases may not match current release The Jesús María vein has been drill tested over a strike length of approximately 1.3km and remains open on its eastern side as well down-dip to the south. All historic drilling by the company and previous operators have returned Jesus Maria style mineralization, with no holes missing their intended target. Other targets outside of the Jesus Maria area have seen limited to no drill testing. To date several multi-kilometer silver trends have been identified at Cruz de Plata with a cumulative strike length of +7km. In addition, the project contains the Capitan disseminated oxide gold deposit which is located in the hanging wall to the Jesús María Vein, approximately 150-300m to its south. This zone represents the top of the mineralized system and has similarities to the nearby El Castillo and San Agustin oxide gold mines that were advanced, built and operated by member's of Capitan's management team. More information for the Company can be found at ON BEHALF OF CAPITAN SILVER CORP. "Alberto Orozco" Alberto Orozco, CEO For additional information contact: Alberto OrozcoCEOCapitan Silver (778) IR TeamCapitan Silver (778) Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect", "estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Capitan in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. 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. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
03-03-2025
- Business
- Yahoo
Capitan Silver Corp Announces Phase 1 Exploration Program for 2025
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2025) - Capitan Silver Corp. (TSXV: CAPT) ("Capitan" or "the Company") is pleased to provide guidance on its exploration strategy at its high-grade silver Cruz de Plata Project located in Durango, Mexico. A Phase 1 drill program, expected to commence in early March, will test several high-priority silver targets. Key Highlights: With the recent closing of Capitan's C$5.3M equity financing led by a strategic investment from the Jupiter Silver & Gold Fund, together with continued support from Capitan's largest shareholders Michael Gentile and Construplan, the Company is pleased to announce its plans to recommence drilling activities at its flagship Cruz de Plata high-grade silver project. A Phase 1 exploration program will target an initial 10,000 metres of reverse circulation (RC) drilling and will be focused on high-priority silver targets that have been identified to date from prior work programs. The following priorities will be included in the Phase 1 exploration program: Phase 1 Exploration Program Definition and step out drilling of high-grade silver mineralization at Jesus Maria: Since the conclusion of drilling in 2022, surface sampling in 2023 and 2024 has continued to outline and confirm the continuity of high-grade silver veins and structures on surface, with grab samples returning values between 200 and 913 g/t silver on the recently acquired Fresnillo claims. New interpretations have linked this new zone of mineralization with the Jesus María vein, expanding the surface footprint of high-grade silver mineralization to 2.6km in strike, with 1.3km already confirmed to date in shallow drilling. Previously announced drill highlights include: The 2025 Phase 1 drilling program will focus on delineating high-grade Silver mineralization on the recently acquired Fresnillo claim, which has seen very little historic drilling. Mineralization along this zone remains open along strike, down-dip and towards surface (See Zone A in Figures 1 & 2 below). Step out drilling along the Gully Fault zone to the northeast (NE): The Gully Fault zone is of particular interest as it is a younger style of mineralization that overprints the high-grade, silver-polymetallic (Ag-Au-Pb-Zn) veins at Jesus Maria. The Gully Fault has a different style of mineralization which is characterized by high grade silver with gold. Previous drilling has intersected impressive silver grades with previously announced drill highlights including: For the 2025 phase 1 drill program, the Company intends to continue tracing Gully Fault style, high-grade silver-gold mineralization down-plunge to the southwest, as well as evaluate its potential to the northeast, especially where it is interpreted to intersect the east-west trending Santa Theresa Fault. Grab samples in this area of limited outcrop exposure have returned values ranging from 150 to 460 g/t Ag. Numerous, historic pits and mine workings have also been located along this trend (See Zone B in Figures 1 & 2 below). Develop new high-grade silver drill targets on parallel, mineralized structures to the north of Jesus Maria: Additional work programs consisting of prospecting, geochemistry and geophysics will be focused on advancing drill targets on secondary, parallel, mineralized structures located to the north and northeast of the main Jesus Maria silver trend. In total, there are 8 silver mineralized structures that have been identified at Cruz de Plata, for a cumulative strike length of 7km (See Zone C in Figure 2 below). Updated Mineral Resource Estimate (MRE) for the Capitan Hill Oxide Gold Deposit: An updated Mineral Resource Estimate for the Capitan Hill Oxide Gold Deposit is expected to be completed in Q2 2025. Capitan Hill currently has an inferred, NI-43-101 compliant resource of 305,000 oz at 0.46 g/t gold, based on 6,717m of historic drilling (See the Technical Report: Strickland and Sim (2020), Penoles Gold-Silver Project, Durango Mexico). The updated resource estimate will incorporate an additional, 12,209m of drilling, that was completed by Capitan in 2021 and 2022, which has doubled the footprint of the deposit along strike and at depth (See Zone D in Figured 2 & 3 below). Alberto Orozco, Capitan's CEO stated: "I am very excited about the upcoming restart of drilling at the Cruz de Plata project. Over the past several months, our technical team has been diligently refining and enhancing our understanding of key drill targets. With the successful closing of our recent financing, we are now positioned to begin testing these targets as we continue to evaluate the project and generate new opportunities. I have great confidence in the geology and strong potential of Cruz de Plata, and I believe this next phase of work will be instrumental in unlocking its value." Figure 1. Vertical long section of Cruz de Plata high-grade silver trend. A) On-strike extension to the East of Jesus María vein; B) NE on-strike extension of Gully Fault zone; To view an enhanced version of this graphic, please visit: Figure 2. Target map of Cruz de Plata project showing exploration priorities for the Phase I exploration program in this release.A) On-strike extension to the East of Jesus María vein; B) NE on-strike extension of Gully Fault zone; C) Additional surface work to refine new drill targets north of Jesús María vein; D) Resource update of Capitan hill disseminated oxide gold deposit. To view an enhanced version of this graphic, please visit: Figure 3. 3D view of the Capitan Hill disseminated oxide gold deposit looking N-NW. Top: Gold deposit with drilling up to 2014. Bottom: Expanded footprint of gold deposit after Capitan Silver's additional 12,209m of drilling. To view an enhanced version of this graphic, please visit: Qualified Person & QA/QC The scientific and technical data contained in this news release pertaining to the Cruz De Plata Project was reviewed and approved by Marc Idziszek, a non-independent qualified person to Capitan Mining, who is responsible for ensuring that the technical information provided in this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects. About Capitan Silver Corp. Capitan Silver (TSXV: CAPT) is a Canadian exploration company focused on advancing its Cruz de Plata silver gold project located in Durango, Mexico. The Company is led by a management team that has successfully advanced and developed several precious-metal operations in Mexico over the past 16 years. Overview: Cruz de Plata Silver Project The 2,551-hectare Cruz de Plata Silver-Gold project is located within the Altiplano region of the State of Durango, one of the safest States in Mexico in recent years. Access to the project site is excellent from either Durango or Torreon, with exploration permitted year round. The project area is the birthplace of the Peñoles Mining Company with historic mining dating back to 1887. These historical mines are contained within a well-defined, outcropping, high-grade silver trend and include the Jesús María (2.5Km strike length), Santa Teresa (1.8Km length), San Rafael North (1.3Km) vein trend. These veins are believed to be part of a much larger Intermediate sulfidation system that stretches across the Cruz de Plata property. Grades from historic mining along with these veins ranged from 300 to 2,000 g/t Ag, 3-12% Pb, and 4-10% Zn. The style of mineralization at the Cruz de Plata Silver belt is mostly Intermediate sulfidation. Drilling by the Company and previous operators has focused mostly on the Jesús María vein system as well as along cross-cutting Gully Fault Ag-Au zone. Drill highlights include: JM_DDH_13_06: 0.9m of 3,567 g/t AgEq within a wider interval of 13.7m of 381.06 g/t AgEq 21-JMRC-10: 1.5m @ 2,250.1 g/t AgEq within a wider interval of 16.8m @ 309.82 g/t AgEq 21-JMRC-01: 1.5m @ 1,099.3 g/t AgEq and 1.5m @ 1,267.2 g/t AgEq within a wider interval of 42.7m @ 207.82 g/t AgEq 22-JMRC-22: 1.5m of 1,431.68 g/t AgEq within a wider interval of 10.7m of 314.54 g/t AgEq JM_DDH_14_24: 7.15m of 1,024.4 g/t AgEq within a wider interval of 42.0m of 244.72 g/t AgEq JM_DDH_13_07: 2.0m of 970.77 g/t AgEq within a wider interval of 6.0m of 368.3 g/t AgEq including 21-JMRC-03: 1.5m of 739.6 g/t AgEq, and 1.5m of 800.0 g/t AgEq and 1.5m @ 595.5 g/t AgEq within a wider interval of 10.7m @ 403.43 g/t AgEq JM_DDH_14_10: 4.3m of 786.5 g/t AgEq within a wider interval of 40.6m of 160.05 g/t AgEq(1) Silver equivalent calculated using the following equation: Ageq = (Ag x 0.94) + (Au x 0.86 x 80) + (Zn x 0.037 x 0.935) + (Pb x 0.03 x 0.92)(2) For further detail see appendix 1 and 2 and press releases dated February 16 2022, 08 March 2022, May 02 2022, June 29, 2022, January17, 2023.(3) AgEq grades are now calculated using metal recoveries. Intervals from historic press releases may not match current release The Jesús María vein has been drill tested over a strike length of approximately 1.3km and remains open on its eastern side as well down-dip to the south. All historic drilling by the company and previous operators have returned Jesus Maria style mineralization, with no holes missing their intended target. Other targets outside of the Jesus Maria area have seen limited to no drill testing. To date several multi-kilometer silver trends have been identified at Cruz de Plata with a cumulative strike length of +7km. In addition, the project contains the Capitan disseminated oxide gold deposit which is located in the hanging wall to the Jesús María Vein, approximately 150-300m to its south. This zone represents the top of the mineralized system and has similarities to the nearby El Castillo and San Agustin oxide gold mines that were advanced, built and operated by members of Capitan's management team. More information for the Company can be found at ON BEHALF OF CAPITAN SILVER CORP. "Alberto Orozco" Alberto Orozco, CEO For additional information contact: Alberto OrozcoCEOCapitan Silver (788) IR TeamCapitan Silver (778) Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect", "estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Capitan in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. 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. To view the source version of this press release, please visit
