Exploring Mining Podcast: News from (NYSE: SILV) (TSX: SIL) (NYSE: GOLD) (TSX: TGZ) (TSXV: LITH) (TSXV: SMN)
Point Roberts, WA and Delta, BC - March 5, 2020 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today's edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
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Exploring #Mining #Podcast: News from (NYSE: SILV) (TSX: SIL) (NYSE: GOLD) (TSX: TGZ) (TSXV: LITH) (TSXV: SMN)
SilverCrest Metals Inc. (TSX: SIL.TO; NYSE American: SILV) has announced metallurgical test results with increased precious metal recoveries and enhanced process design changes for the ongoing Feasibility Study (FS) at the Las Chispas Property in Sonora, Mexico. Results following nine months of metallurgical test work on all veins shows "an increase of recoveries to 96.1% gold ("Au") and 93.9% silver ("Ag"), or 95.0% silver equivalent ("AgEq"); based on a ratio of 75 (Ag): 1(Au), with average metallurgical recoveries of 95% Au and 90% Ag. SilverCrest COO Pierre Beaudoin, commented:
"We are pleased that the 95% AgEq precious metal recoveries reported in our comprehensive test work has allowed us to address one of the optimization opportunities outlined in the PEA [Preliminary Economic Assessment]. This effort has contributed to the further de-risking of the conceptual operational profile of Las Chispas. The metallurgical samples represented over 1.4 tonnes of mineralized material from surface to depth with applied knowledge on geo-metallurgy with respect to low to high grades, structural domains, geochemistry and oxide to sulfide mineralization. With these results and design in-hand, we have initiated the Basic Engineering for the process plant. Details of this metallurgical work and process design will be included in the FS now anticipated in the summer of 2020."
At press time, SilverCrest stock is up about 1.3 percent.
Barrick Gold Corporation (NYSE:GOLD) has completed a transaction with Teranga Gold Corporation (TSX:TGZ), wherein the former's Massawa gold project in Senegal was combined with the latter's Sabodala gold mine. Barrick and its Senegalese partner, which held a 90 percent interest in the Massawa project, "will receive an up-front payment valued at $380 million at the time of announcement," and "a contingent payment of up to $50 million which is based upon the average gold price for the three-year period immediately following closing." Mark Bristow, Barrick's President and CEO, explained:
"Teranga is best placed to achieve this as it already owns the nearby Sabodala mine and Sabodala's combination with Massawa is expected to deliver significant synergies. Barrick will participate in the upside of the combined asset through the 11% interest it is acquiring in Teranga through this transaction."
Stock for Teranga is up some 7.8 percent at press time.
Lithium Chile Inc. (TSXV:LITH) has announced the acquisition of prospective gold, silver and copper properties from Kairos Metals Corp. According to the press release, "the Company's extensive lithium property portfolio continues to be management's key focus, the addition of the gold, silver and copper properties allows management of the Company to expand its options which may include entering into partnerships on some of the mineral properties." Steve Cochrane, President and CEO of Lithium Chile, said:
"I believe that this transaction will be very beneficial to the shareholders of Lithium Chile. The current strength in the gold price has reignited interest in quality gold exploration properties which Lithium Chile now has access to. Chile hosts some of the better gold exploration opportunities and we are pleased to have added these quality gold prospects to our portfolio."
Lithium Chile stock is up about 2.7 percent at press time.
San Marco Resources Inc. (TSXV:SMN) has received a five-year, area-based exploration permit for its 100 percent optioned Buck gold/silver/zinc project, allowing it to execute substantial drilling and testing on the property. The Phase I drilling program, which is fully funded, will "consist of approximately 2,000 metres of HQ drill core, most of which is in areas where known gold/silver/zinc mineralization is open in all directions."
San Marco stock is up about 6.7 percent at press time.
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