Latest news with #goldsilver
Yahoo
23-06-2025
- Business
- Yahoo
Halcones Precious Metals Grants Stock Options and Restricted Share Units
TORONTO, June 23, 2025 (GLOBE NEWSWIRE) -- Halcones Precious Metals Corp. (TSX-V: HPM) (the 'Company' or 'Halcones') announces it has granted a total of 3,500,000 stock options ('Options') to purchase common shares of the Company to certain officers, directors and consultants pursuant to the Company's Stock Option Plan. Such Options are exercisable into common shares of the Company at an exercise price of $0.10 per common share for a period of two years from the date of grant. In addition, the Company has issued a total of 4,550,000 restricted share units ('RSUs') to certain directors, officers and consultants of the Company in accordance with the Company's Restricted Share Unit and Deferred Unit Plan. The RSUs will vest annually in equal installments over a three-year period beginning on the one-year anniversary of the grant date. The grant of the Options and the RSUs is subject to the approval of the TSX Venture Exchange. About Halcones Precious Metals Corp. Halcones is focused on exploring for and developing gold-silver projects in Chile. The Company has a team with a strong background of exploration success in the region. For further information, please contact: Vincent Chen, CPA Investor Relations Cautionary Note Regarding Forward-looking Information This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, regarding the grant of stock options and RSUs and the Company's future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Halcones, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Halcones has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Halcones does not undertake to update any forward-looking information, except in accordance with applicable securities laws. 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
16-06-2025
- Business
- Yahoo
Plato Gold Announces Closing of Loan Financing for First Ever Drill Program at Lolita Project, Santa Cruz, Argentina
Toronto, June 16, 2025 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF) (FRANKFURT: 4Y7 OR WKN: A0M2QX) ('Plato' or the 'Company') an exploration company with a portfolio of properties in Northern Ontario and Santa Cruz, Argentina announces that further to its press release dated May 1, 2025, it has updated the terms and closed its previously announced loan financing. Certain lenders have agreed to provide Plato with a loan of up to US$1,050,000, with one lender providing a loan of US$50,000 and the other lender, being 1338823 Alberta Inc., providing a loan of US$1,000,000 in such principal amounts to be advanced to the Company by such lender as agreed from time to time. The loan proceeds shall be used to finance the Company's drill program at the gold-silver Lolita Project, Santa Cruz, Argentina and for working capital and general corporate purposes. The loans are unsecured and will bear interest at 7% per annum and become due and payable on June 10, 2026 (the 'Maturity Date') unless repaid earlier at the option of Plato. The loans do not contain the right for the outstanding principal amount to be converted into common shares of Plato, as was previously contemplated in the Company's May 1, 2025 press release. 1338823 Alberta Inc., a company over which Anthony Cohen, President and a director of Plato and James Cohen, a director of Plato, exercise control and direction over, entered into a loan agreement with Plato to lend up to US$1,000,000 to Plato, which constitutes a 'related party transaction' for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company is relying upon exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 in connection with the related party transaction on the basis that the fair market value of the loan is not more than $2.5 million. The Company did not file a material change report more than 21 days before the anticipated closing date of the loan transaction as the details had not been settled at that time. The Company announces a correction to it press release dated May 1, 2025, pursuant to which it was announced that one of the lenders was Anthony Cohen, in his personal capacity, in fact it is 1338823 Alberta Inc. that has made the applicable loan, a company over which Anthony Cohen exercises control and direction, as indicated above. About Plato Gold Corp. Plato Gold Corp. is a Canadian exploration company traded on the TSX Venture Exchange, OTC Markets, and Frankfurt Exchange with projects in Timmins, Ontario, Marathon, Ontario and Santa Cruz, Argentina. The Timmins Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario, with a focus on gold. In Argentina, Plato owns a 95% interest in Winnipeg Minerals S.A., an Argentina incorporated company that holds a number of contiguous mineral rights totalling 9,672 hectares with potential for gold and silver. The Good Hope Niobium Project consists of approximately 6,035 hectares in Killala Lake Area and Cairngorm Lake Area Townships, near Marathon Ontario, with the primary target being niobium. The Pic River Platinum Group Metals (PGM) Project consists of 2,352 hectares in Foxtrap Lake and Grain Township, near Marathon Ontario, of which 19 claims are contiguous to the western boundary of Generation Mining's Marathon PGM project and is located on strike to Generation Mining's Sally deposit. For additional company information, please visit NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE. For further information, please contact: Anthony Cohen President and CEO Plato Gold Corp. T: 416-968-0608 F: 416-968-3339 Info1@ Cautionary Note Regarding Forward-Looking Information This news release contains 'forward-looking statements', within the meaning of applicable securities laws. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives, or goals, including words to the effect that Plato expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'seeking', 'should', 'intend', 'predict', 'potential', 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', 'continue', 'plan' or the negative of these terms and similar expressions. Since forward-looking statements are based on current expectations and assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Forward-looking information related to Plato in this press release includes, but is not limited to: TSX Venture Exchange approvals, statements regarding the potential mineralization and resources of the Company's properties, exploration results, future plans, drilling programs and objectives. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include but are not limited to: changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and conditions changing such that the minerals on our property cannot be economically mined, or that the required permits cannot be obtained. Although management of Plato has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by 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
Associated Press
28-05-2025
- Business
- Associated Press
Prime Announces Selection of Ausenco to Lead PEA Study Work
Preliminary Economic Assessment Targeted for Completion in Q3/2025 [with Clarification of Current Drilling Status] VANCOUVER, British Columbia, May 28, 2025 (GLOBE NEWSWIRE) -- Prime Mining Corp. ('Prime' or the 'Company') (TSX: PRYM) (OTCQX: PRMNF) (Frankfurt: O4V3) announces that it has selected Ausenco Engineering Canada ULC ('Ausenco') to lead the study work for a Preliminary Economic Assessment ('PEA') on its wholly-owned Los Reyes gold-silver project ('Los Reyes' or the 'Project') located in Sinaloa State, Mexico. The Company is targeting the delivery of a PEA reflecting a high return, high margin, low capital and long-life project at Los Reyes. The PEA will be based on drilling to the end of 2024 and incorporate the extensive technical work completed to-date. Since acquiring Los Reyes in 2019, Prime has spent more than $64 million on direct exploration activities and has completed over 221,000 metres of drilling. The PEA is targeted for completion in Q3 2025. Prime CEO, Scott Hicks, commented, 'We are excited to share that we are accelerating our work on a Preliminary Economic Assessment for the Los Reyes Project. This follows a recently completed, robust initial de-risking program of benchmarking capital and operating costs, assessing infrastructure and reviewing design parameters for both mining and processing with the Ausenco team. It builds upon the extensive metallurgical testwork program that we had undertaken, in addition to the geotechnical and mine planning optimization that Prime and previous Project owners have completed. Our approach assumes a low capital, 5,000 tonne-per-day mill fed by a combination of open pit and underground material and may include a higher throughput sensitivity scenario. We look forward to updating the market on our results as we target completion of the PEA in the third quarter of 2025. In parallel with the preparation of the PEA, Prime will prioritize exploration, targeting highly prospective areas with potential to contribute additional resource ounces in future studies.' Ausenco has been chosen to lead the PEA based on its extensive experience with projects of similar scale in Mexico, including advancing Silvercrest's Las Chispas Project from technical studies through construction, leading the delivery of Discovery Silver's Cordero Project Feasibility Study and Vizsla Silver's Panuco PEA and providing process design expertise for GoGold's Los Ricos Project Feasibility Study. Prime will continue to work with AGP Mining Consultants Inc., Knight Piésold Ltd., and Kappes Cassiday & Associates to deliver a high quality, independent study. 2025 Outlook The Company plans to continue its success-based approach to exploration to further identify new prospective targets, expand the existing resource, and infill drilling. Additional work will include geological mapping and geochemical sampling to identify further discovery areas. On January 28, 2025, drilling was paused in response to a deterioration in the security situation in parts of Sinaloa, including the Los Reyes area. This pause is not currently expected to impact the Company's ability to drill a minimum 40,000m program over 12-months from the recommencement of drilling. Six drill rigs remain on site and drill contractors are on standby to resume drilling as soon as security improves. The Company will continue to work with local authorities to monitor the current situation. Planned fiscal 2025 exploration will focus on: Project activities are also planned to include: About Ausenco Ausenco is a global company redefining what's possible. The team is based out of 21 offices working across five continents to deliver services worldwide. Combining deep technical expertise with a 30-year track record, Ausenco delivers innovative, value-add consulting, studies, project delivery, asset operations and maintenance solutions to the minerals and metals and industrial sectors ( About the Los Reyes Gold and Silver Project Los Reyes is a high-grade, low-sulphidation epithermal gold-silver project located in Sinaloa State, Mexico. On October 15, 2024, Prime announced an updated multi-million-ounce high-grade open pit and underground resource based on exploration drilling up to July 17, 2024. Since acquiring Los Reyes in 2019, Prime has spent more than $64 million on direct exploration activities and has completed over 221,000 metres of drilling. The Company is targeting the delivery of a PEA by the end of Q3, 2025 that will highlight a high return, high margin, low capital and long-life project at Los Reyes. 1. Refer to the Additional Notes section for the gold equivalent grade ('AuEq') calculation method and further information. Drilling and geological interpretation suggests that the three known main deposit areas (Guadalupe, Central and Z-T) are larger than previously reported. Potential also exists for new discoveries where mineralized trends have been identified outside of the currently defined resource areas. Historic operating results indicate that an estimated 1 million ounces of gold and 60 million ounces of silver were recovered from five separate operations at Los Reyes between 1770 and 1990. Prior to Prime's acquisition, recent operators of Los Reyes had spent approximately US$20 million on exploration, engineering, and prefeasibility studies. QA/QC Protocols and Sampling Procedures Drill core at the Los Reyes project is drilled in predominately HQ size (63.5 millimetres 'mm'), reducing to NQ (47.6 mm) when required. Drill core samples are generally 1.50 m long along the core axis with allowance for shorter or longer intervals if required to suit geological constraints. After logging intervals are identified to be sampled, the core is cut and one half is submitted for assay. RC drilling returns rock chips and fines from a 133.35 mm diameter tricone bit. The returns are homogenized and split into 2 halves, with one half submitted for analysis and the other half stored. Sample QA/QC measures include unmarked certified reference materials, blanks, and field duplicates as well as preparation duplicates are inserted into the sample sequence and make up approximately 8% of the samples submitted to the laboratory for each drill hole. Samples are picked up from the Project by the laboratory personnel and transported to their facilities in Durango or Hermosillo Mexico, for sample preparation. Sample analysis is carried out by Bureau Veritas and ALS Labs, with fire assay, including over limits fire assay re-analysis, completed at their respective Hermosillo, Mexico laboratories and multi-element analysis completed in North Vancouver, Canada. Drill core sample preparation includes fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250-gram split to at least 85% passing 75 microns. Gold in diamond drill core is analyzed by fire assay and atomic absorption spectroscopy of a 30 g sample (code FA430 or Au-AA23). Multi-element chemistry is analyzed by 4-Acid digestion of a 0.25-gram sample split (code MA300 or ME-ICP61) with detection by inductively coupled plasma emission spectrometer for a full suite of elements. Gold assay techniques FA430 and Au-AA23 have an upper detection limit of 10 ppm. Any sample that produces an over-limit gold value via the initial assay technique is sent for gravimetric finish via method FA-530 or Au-GRA21. Silver analyses by MA300 and ME-ICP61 have an upper limit of 200 ppm and 100 ppm, respectively. Samples with over-limit silver values are re-analyzed by fire assay with gravimetric finish FA530 or Au-GRA21. Both Bureau Veritas and ALS Labs are ISO/IEC accredited assay laboratories. Additional Notes Prime's MRE as of October 15, 2024 is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ('CIM') 'CIM Definition Standards - For Mineral Resources and Mineral Reserves' adopted by the CIM Council (as amended, the 'CIM Definition Standards') and in accordance with the requirements of NI 43-101. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Metres is represented by 'm'; 'etw' is Estimated True Width and is based on drill hole geometry or comparisons with other on-section drill holes; 'Au' refers to gold, and 'Ag' refers to silver; 'g/t' is grams per metric tonne; some figures may not sum due to rounding; Composite assay grades presented in summary tables are calculated using a Au grade minimum average of 0.20 g/t or 1.0 g/t as indicated in 'Au Cut-off' column of Summary Tables. Maximum internal waste included in any reported composite interval is 3.00 m. The 1.00 g/t Au cut-off is used to define higher-grade 'cores' within the lower-grade halo. Gold equivalent grades are calculated based on an assumed gold price of US$1,950 per ounce and silver price of $25.24 per ounce, based on the formula AuEq grade (g/t) = Au grade + (Ag grade x $25.24 / $1,950). Metallurgical recoveries are not considered in the in-situ grade estimate but are estimated to be 95.6% and 81% for gold and silver, respectively, when processed in a mill, and 73% and 25% respectively when heap-leached. Additional details are available in the associated Technical Report, filed on November 27, 2024. Qualified Person Scott Smith, Executive Vice President of Exploration, is a Qualified Person for the purposes of NI 43-101 and has reviewed and approved the technical content in this news release. About Prime Mining Prime is managed by an ideal mix of successful mining executives, strong capital markets personnel and experienced local operators all focused on unlocking the full potential of the Project. The Company has a well-planned capital structure with a strong management team and insider ownership. Prime is targeting a material resource expansion at Los Reyes through a combination of new generative area discoveries and growth, while also building on technical de-risking activities to support eventual project development. For further information, please visithttps:// direct enquiries to: Scott Hicks CEO & Director Indi Gopinathan VP Capital Markets & Business Development Prime Mining Corp. 710 – 1030 West Georgia St. Vancouver, BC V6E 2Y3 Canada +1(604) 238-1659 [email protected] Cautionary Notes to U.S. Investors Concerning Resource Estimates This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the U.S. securities laws. In particular, and without limiting the generality of the foregoing, the terms 'mineral reserve', 'proven mineral reserve', 'probable mineral reserve', 'inferred mineral resources,' 'indicated mineral resources,' 'measured mineral resources' and 'mineral resources' used or referenced in this presentation are Canadian mineral disclosure terms as defined in accordance with NI 43-101 under the guidelines set out in the CIM Standards. The CIM Standards differ from the mineral property disclosure requirements of the U.S. Securities and Exchange Commission (the 'SEC') in Regulation S-K Subpart 1300 (the 'SEC Modernization Rules') under the U.S. Securities Act of 1933, as amended (the 'Securities Act'). As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multijurisdictional disclosure system, the Company is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Standards. Accordingly, the Company's disclosure of mineralization and other technical information may differ significantly from the information that would be disclosed had the Company prepared the information under the standards adopted under the SEC Modernization Rules. Forward Looking Information This news release contains certain 'forward-looking information' and 'forward-looking statements' within the meaning of Canadian securities legislation as may be amended from time to time, including, without limitation, statements regarding the perceived merit of the Company's properties, including additional exploration potential of Los Reyes, potential quantity and/or grade of minerals, the potential size of the mineralized zone, metallurgical recoveries, and the Company's exploration and development plans in Mexico. Forward-looking statements are statements that are not historical facts which address events, results, outcomes, or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve several risks and uncertainties. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding the price of gold, silver and copper; the accuracy of mineral resource estimations; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained, including concession renewals and permitting; that political and legal developments will be consistent with current expectations; that currency and exchange rates will be consistent with current levels; and that there will be no significant disruptions affecting the Company or its properties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks related to uncertainties inherent in the preparation of mineral resource estimates, including but not limited to changes to the cost assumptions, variations in quantity of mineralized material, grade or recovery rates, changes to geotechnical or hydrogeological considerations, failure of plant, equipment or processes, changes to availability of power or the power rates, ability to maintain social license, changes to interest or tax rates, changes in project parameters, delays and costs inherent to consulting and accommodating rights of local communities, environmental risks, title risks, including concession renewal, commodity price and exchange rate fluctuations, risks relating to COVID-19 and other future pandemics, delays in or failure to receive access agreements, on-going receipt of amended and/or operating permits, risks inherent in the estimation of mineral resources; and risks associated with executing the Company's objectives and strategies, including costs and expenses, physical access to the property, security risks, availability of contractors and skilled labour, as well as those risk factors discussed in the Company's most recently filed management's discussion and analysis, as well as its annual information form dated March 25, 2024, available on Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
