CMX Gold & Silver Corp

CMX Gold increases private placement to $630,000

CMX Gold & Silver Corp. (CSE:CXC; OTC:CXXMF) ("CMX" or the "Company") announces that there has been strong interest in its current non-brokered private placement offering (the "Offering") of CAD $0.09 units (the "Units"). On July 14, 2022, the Company completed the first tranche of the Offering for 2,860,000 Units for gross proceeds of CAD $257,400. As a result of strong demand, the Company has increased the Offering to 7,000,000 Units (from the original 4,000,000 Units) with maximum proceeds of CAD $630,000. The second and final tranche of the Offering of up to 4,140,000 Units for proceeds of up to $372,600 is expected to close in early September 2022.

Each Unit consists of one CMX common share and one-half of one non-transferable common share purchase warrant. Each whole warrant is exercisable to acquire one common share at a price of CAD $0.18 per common share until 24 months from the date of issuance.

The proceeds of the Offering will be used for work programs on CMX's Clayton Silver Project in Custer County, Idaho, USA, including planning and site preparation for future drilling programs and for general working capital purposes.

The securities issued under the Offering, and any common shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

About CMX

CMX's 100%-owned Clayton Silver Property is located in the mining-friendly State of Idaho, USA. The property comprises approximately 684 acres in Custer County in south-central Idaho, including the former Clayton silver-lead-zinc mine. The Clayton Mine was developed on eight levels to a depth of 1,100 feet below surface and is comprised of approximately 19,690 feet of underground development.

Two major ore bodies were partially mined: the "South Ore Body" and the "North Ore Body". The Clayton property's significant potential is demonstrated in hole 1501-A, drilled in the mid-1960's, which penetrated the mineralized zone at 1,425 feet. At that depth, the hole intercepted 22 feet of 4.07 oz Ag/t, 5.75% lead and 5.37% zinc (note: true width is unknown). The recorded production from the Clayton Mine included 7,031,110 oz silver, 86,771,527 lbs lead, 28,172,211 lbs zinc, 1,664,177 lbs copper, and minor amounts of gold from an estimated 2,145,652 tonnes of ore mined between 1934 and 1985.

The Company has signed an agreement with Sulphide Remediation Inc. ("SRI"), a firm specializing in mineral processing (see May 31, 2022 news release). SRI utilizes precision ore sorting technology to high-grade mine stockpiles of unprocessed rock to enhance the grade of material delivered to a toll mill. The results of testing the ore sorting process on Clayton's stockpile material should position CMX to generate cash flow in 2023. The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

For further information contact:

Robert d'Artois, Investor Relations at (604) 329-0845 bobdartois@cmxgoldandsilver.com or

Jan M. Alston, President & C.E.O. at (403) 457-2697 janalston@cmxgoldandsilver.com.

You can also visit the Company's Website: www.cmxgoldandsilver.com 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Cautionary Statement Regarding Forward-Looking Information Certain information contained in this news release constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the process and completion of the Offering, the use of proceeds of the Offering and any statements regarding the Company's business plans, expectations and objectives. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company's most recent Management's Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedar.com under the Company's profile and on the Company's website, https://cmxgoldandsilver.com/home.

The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Source

Click here to connect with CMX Gold & Silver Corp. (CSE:CXC; OTC:CXXMF) to receive an Investor Presentation

CXC:CC
The Conversation (0)
CMX Announces Assay Results Confirm Ore-Sorting Viable for Clayton Stockpile

CMX Announces Assay Results Confirm Ore-Sorting Viable for Clayton Stockpile

 

(TheNewswire)

 
  
  CMX Gold & Silver Corp. 
 
 

CMX Gold & Silver Corp. ( CSE:CXC ) ( OTC:CXXMF ) (" CMX " or the " Company ") has received assays for concentrate successfully recovered from samples taken in 2022 from the historic stockpile adjacent to its 100%-owned Clayton Silver Mine in Idaho.  Jan Alston, President & CEO of CMX stated: "This is a significant milestone with respect to advancing the Company's Clayton Silver Project.  The silver, lead and zinc assay results are robust and ore-sorting returned a high-grade concentrate.  This provides CMX with a unique opportunity as a junior mining company to exploit the stockpile, which is estimated to contain 1,000,000 tonnes or more of mineralized material. Processing the stockpile is expected to start next year

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
CMX Announces Ore-Sorting Test Completed with Assays Pending

CMX Announces Ore-Sorting Test Completed with Assays Pending

 

(TheNewswire)

 
  
  CMX Gold & Silver Corp. 
 
 

CMX Gold & Silver Corp. ( CSE:CXC ) ( OTC:CXXMF ) (" CMX " or the " Company ") announces the successful completion of the ore-sorting test at the TOMRA facility in Sydney, Australia.  The sorted product has been sent to Bureau Veritas for assaying. Results are expected in late April 2023

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
CMX Expands Clayton Landholdings

CMX Expands Clayton Landholdings

 

(TheNewswire)

 
  
  CMX Gold & Silver Corp. 
 
 

November 3, 2022 TheNewswire - CALGARY, ALBERTA CMX Gold & Silver Corp. ( CSE:CXC ) ; ( OTC:CXXMF ) ("CMX" or the "Company") announces completion of its 2022 claims staking program surrounding its 100%-owned Clayton Silver Property in Idaho, USA.  The Company surveyed and staked 22 lode claims on federal Bureau of Land Management land, adding approximately 450 acres to CMX's landholdings. The staking has added significant prospective acreage to the Company's silverleadzinc project, bringing the total land position to 1,134 acres, a 66% increase in the area covered.  Prior to staking the new claims, CMX's land position was comprised of 29 patented mining claims and 2  patented mill sites aggregating 565 acres, plus 6 lode claims aggregating 119 acres.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
CMX Clayton Stockpile Testing

CMX Clayton Stockpile Testing

 

(TheNewswire)

 
  
  CMX Gold & Silver Corp. 
 
 

  October 13, 2022  

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
CMX Announces Contract for Processing Clayton Stockpile

CMX Announces Contract for Processing Clayton Stockpile

 

(TheNewswire)

  CMX Gold & Silver Corp. 

May 31, 2022 TheNewswire - CALGARY, ALBERTA CMX Gold & Silver Corp. ( CSE:CXC ) ; (CNSX:CXC.CN); ( OTC:CXXMF ) ("CMX" or the "Company") announces that it has signed an agreement with Sulphide Remediation Inc. ("SRI") ( https:www.sulphide-remediation.com ), an affiliate of ABH Engineering Inc. of Surrey, B.C., a firm specializing in mineral processing ( https:www.abhengineeringinc.com ).  SRI utilizes precision ore sorting technology to high-grade mine stockpiles of unprocessed rock to enhance the grade of material delivered to a toll mill.  Dual Energy X-Ray Transmission technologies differentiate between rocks based on small fluctuations in density profiles and are effective at removing sulphides and concentrating valuable metals.  The sorted rock can be treated at existing millssmelters where valuable metals will be extracted and sulphides will be safely handled.​ SRI has some of the world's leading experts in crushing, screening and ore sorting.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×