fortuna silver mines

Fortuna Silver Mines Enters into Option Agreement for Taviche Project, Mexico

Gold79 Mines Ltd. (TSXV: AUU) ("Gold79" or the "Company") announces that Minaurum Gold Inc. and its wholly owned subsidiary, Minera Minaurum Gold SA de CV ("MGG") have entered into an option agreement with Fortuna Silver Mines Inc. and Fortuna's wholly owned subsidiary, Compania Minera Cuzcatlan SA de CV ("CMC"), pursuant to which CMC can earn up to an 80 percent interest in the Taviche silver project located in Oaxaca, Mexico.

Details with respect to this option agreement were announced by MGG on January 7, 2021. CMC will act as operator of the project and can earn an initial 60% interest in the project by making cash payments to MGG of US$450,000 and incurring US$4 million in work expenditures over a three year period.

Gold79 retains a 20% free-carried interest in the Taviche project under the terms of the Company's agreements with MGG. MGG holds an exclusive option to acquire this 20% interest for a purchase price of CDN$1,000,000. Additionally, Gold79 is entitled to receive 100,000 common shares of MGG upon receipt of all relevant approvals and consents required for the commencement of exploration drilling at the Taviche project.

Gary Thompson, President, CEO and Chairman of Gold79, stated,"We are pleased that the Taviche silver project has been placed in strong hands with Fortuna as operator. Significant exploration programs are contemplated; and, if successful, we could see our 20% interest purchased with funding from Fortuna. Gold79 continues to focus on its gold projects in the Southwestern USA."

About Gold79 Mines Ltd.

Gold79 Mines Ltd. (formerly Aura Resources Inc.) is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in the Southwest USA. Gold79 holds 100% earn-in option and / or purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA; and, the Gold Chain Project located in northern Arizona, USA. Gold79 also holds two projects with minority interest being a 37.1% interest in the Greyhound Project, Nunavut, Canada under JV and operated by Agnico Eagle Mines Limited and a 20% carried interest in the Taviche Project in Oaxaca, Mexico held by Minaurum Gold Inc. and under option to Fortuna Silver Mines Inc.

For further information regarding this press release contact: Gary Thompson, Chief Executive Officer and Executive Chairman by email at GT@gold79mines.com. Gold79's website is located at www.gold79mines.com.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any private placement financings, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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 https://www.newsfilecorp.com/release/71614

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Labyrinth To Ramp Up Gold, Lithium And Nickel Exploration At Comet Vale, WA

Labyrinth To Ramp Up Gold, Lithium And Nickel Exploration At Comet Vale, WA

Labyrinth Resources Limited (ASX: LRL) (‘Labyrinth’ or ‘the Company’) is pleased to advise that it is stepping up a “back-to-basics” exploration program at its Comet Vale gold project in WA (‘the Project’).

Keep reading...Show less
will rhind, gold bars

Will Rhind: Gold in Good Position Ahead of Fed; Still Positive on Platinum

The US Federal Reserve's latest meeting will wrap up on Wednesday (September 20), and gold investors are watching closely to see whether the central bank hikes interest rates again or leaves them unchanged at 5.25 to 5.5 percent.

Speaking to the Investing News Network, Will Rhind, CEO of GraniteShares, said he thinks an increase is unlikely.

"I only see the probability of a rate hike happening if clearly there's some data to suggest that inflation's on the up again, or something that provides some catalyst for them to raise interest rates," he said during an interview. "I do think that by and large we're at the top of the cycle, and we are kind of on the way down, albeit not immediately."

Keep reading...Show less
gold ore

Gold Grain Morphology: A Valuable Method of Gold Exploration (Updated 2023)

The high value of gold means that a deposit of very small concentration can be economically mined — a fact that is great news for gold miners, but complicated for gold explorers.

Gold is often found in ores composed of rock with very small particles. When it comes to extraction, ore with grades of gold as little as 0.5 parts per million (ppm) can be economically mined. Because ore grades of 30 ppm are usually needed before gold is visible to the naked eye, gold in most mines is invisible.

Not only can viewing individual grains of gold provide a challenge, but the nature of prospecting means that finding these grains of gold through conventional sampling can prove nearly impossible.

Keep reading...Show less

Kestrel Gold - Samples up to 2.051 g/t Au at King Solomon's Dome, Follow-up Drilling Planned

Kestrel Gold Inc. ("Kestrel" or the "Corporation", TSX-V:KGC) is pleased to announce preliminary results from the 2023 prospecting program on it's 100% owned King Solomon Dome property ("KSD"). The property is located in the Yukon portion of the Tintina Gold Belt, 35 minutes by road south of Dawson City, within the famous Klondike placer gold district. Creeks draining KSD have produced significant amounts of placer gold and Kestrel is evaluating the property's potential to host economic bedrock sources for this gold

The target at KSD is an orogenic-style north-south trending quartz vein system located over an approximate 1.0 kilometre east-west by 2.2 kilometre north-south area. The 2023 program focused on the Dominion Creek drainage basin which drains the southern portion of the property. Prospecting of new road cuts and active placer pits in this area identified numerous areas of sheared, quartz veined, pyritic and carbonate altered bedrock or rubblecrop, sampling of which returned values ranging from

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falcon Gold (TSXV:FG)

Falcon Announces Warrant Repricing and Extension

FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); (the "Company") announces that the Company intends to reprice and extend the expiry date of a total of 2,058,500 share purchase warrants exercisable at $0.25 per common share expiring on October 9, 2023 (the "Warrants"). The Warrants were issued pursuant to a private placement which closed on October 9, 2021. The Company proposes to reprice the Warrants to $0.10 per share and extend the expiry date by an additional two years to October 9, 2025.

All other terms and conditions of the Warrants remain unchanged. The extension of the Warrants is subject to acceptance by the TSX Venture Exchange.

Keep reading...Show less

Strategically Driven Barrick to Deliver Sustainably Profitable Growth

All amounts expressed in US dollars unless specified otherwise

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is projecting a 30% increase in production on the back of the growth options embedded in its asset portfolio, 1 president and chief executive Mark Bristow told the Gold Forum Americas here today .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×