Connect with us

Today’s News

Silver Tiger Intersects 2,025.7 G/T AgEq over 1.7 Meters within a Broader Interval of 7.2 Meters Grading 870.3 G/T AgEq in Drill Hole 21-236

HALIFAX, NS / ACCESSWIRE / September 7, 2021 / Silver Tiger Metals Inc. (TSXV:SLVR and OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") has intersected…

Share this article:

Published

on

HALIFAX, NS / ACCESSWIRE / September 7, 2021 / Silver Tiger Metals Inc. (TSXV:SLVR and OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") has intersected 2,025.7 g/t silver equivalent over 1.7 meters in the Footwall Discovery Zone in Drill Hole ET-21-236 from 249.1 meters to 250.8 meters within a broader mineralized interval of 7.2 meters grading 870.3 g/t silver equivalent from 246.6 meters to 253.8 meters. Drill hole ET-21-236 is located 25 meters along strike to the north from Discovery Hole ET-20-202 (see Silver Tiger press release dated Feb. 2, 2021). This mineralized zone, referred to as the crackle breccia zone, is located in the footwall below the Sooy Vein and is represented by pervasive silicification in the brecciated tuffs of the Flat Formation with both disseminated pyrite and stringers/veinlets of quartz-pyrite-galena-sphalerite and chalcopyrite.

Drill hole ET-21-236 also intersected the Sooy Vein returning 0.8 meters grading 1,039.3 g/t silver equivalent from 195.0 meters to 195.8 meters within a broader mineralized interval of 5.7 meters grading 427.8 g/t silver equivalent from 193.9 meters to 199.6 meters.

Highlights from the on-going drilling program include the following:

  • Hole ET-21-236 (Sooy Vein): 0.8 meters grading 1,039.3 g/t silver equivalent from 195.0 meters to 195.8 meters, consisting of 894.0 g/t silver, 0.27 g/t gold, 0.93% copper, 0.78% lead and 0.51% zinc within 5.7 meters grading 427.8 g/t silver equivalent from 193.9 meters to 199.6 meters, consisting of 324.4 g/t silver, 0.34 g/t Au, 0.47% copper, 0.73% lead and 0.45% zinc
  • Hole ET-21-236 (FW Discovery Zone): 1.7 meters grading 2,025.7 g/t silver equivalent from 249.1 meters to 250.8 meters, consisting of 1,381.9 g/t silver, 0.29 g/t gold, 1.55% copper, 7.01% lead and 9.24% zinc within 4.8 meters grading 1,265.9 g/t silver equivalent from 246.6 meters to 251.5 meters, consisting of 702.9 g/t silver, 0.17 g/t Au, 1.02% copper, 5.59% lead and 9.65% zinc
  • Hole ET-21-241: 1.3 meters grading 2,036.4 g/t silver equivalent from 291.1 meters to 292.3 meters, consisting of 1,746.0 g/t silver, 0.65 g/t gold, 1.48% copper, 1.16% lead and 2.14% zinc within 5.4 meters grading 833.7 g/t silver equivalent from 289.4 meters to 294.8 meters, consisting of 727.1 g/t silver, 0.21 g/t Au, 0.59% copper, 0.36% lead and 0.76% zinc
  • Hole ET-21-246: 0.9 meters grading 2,559.2 g/t silver equivalent from 194.7 meters to 195.6 meters, consisting of 1,711.0 g/t silver, 2.81 g/t gold, 1.34% copper, 6.83% lead and 10.47% zinc within 1.6 meters grading 1,495.3 g/t silver equivalent from 194.7 meters to 196.3 meters, consisting of 999.5 g/t silver, 1.64 g/t Au, 0.78% copper, 3.99% lead and 6.13% zinc

Additional results are presented in the Drill Hole Results table below along with the details for the calculation of the silver equivalent grades.

A Plan Map of the Sooy Vein is attached. Also attached is El Tigre Cross Section 4925N detailing Drill Hole ET-21-236 and El Tigre Cross Section 4950N detailing drill holes ET-21-241, 246 and 250.

Silver Tiger's CEO, Glenn Jessome, stated, "Following our successful drilling to the south of Hole 202, the first holes drilled north of this Footwall Discovery have delivered wide zones of high grade silver mineralization in 25 and 50 metre step outs. We see great strike length potential of both the Sooy Vein and the Footwall Discovery Zone going north. High grade silver continuity is evolving north and south of Discovery Hole 202 on the Sooy Vein."

As previously reported, Discovery Drill Hole ET-20-202 intersected 11.75 meters grading 667.9 g/t silver equivalent within 22.2 meters grading 381.9 g/t silver equivalent approximately 12 meters beyond the footwall of the Sooy Vein (refer to Silver Tiger press release dated February 2, 2021).

Drill Hole Results Table

Hole IDComment

From

To

Length(1)

Gold

Silver

Copper

Lead

Zinc

AgEq Total (2)

  

m

m

m

g/t

g/t

%

%

%

g/t

           
ET-20-202

Sooy Vein

215.9

227.0

8.3

0.12

32.8

0.03

0.17

0.21

55.9

 

Sooy Vein Stope

219.3

222.1

2.8

*

*

*

*

*

*

 

FW Discovery Vein

234.1

256.3

22.2

1.12

176.9

0.23

1.43

1.96

381.9

 

including

235.1

246.9

11.8

2.02

305.0

0.39

2.34

3.56

667.9

 

including

239.9

246.9

6.9

3.34

344.7

0.33

2.05

3.36

787.5

 

including

241.9

243.5

1.5

0.13

657.9

0.46

4.25

7.64

1,065.8

 

including

239.9

240.4

0.5

0.14

1,496.0

1.43

3.90

6.69

1,958.1

 

including

241.9

242.5

0.5

0.22

1,096.0

0.47

5.79

14.25

1,767.4

 

including

245.9

246.9

1.0

22.50

28.9

0.01

0.49

0.37

1,741.4

 

including

290.1

292.4

2.3

0.02

37.2

0.02

0.06

0.17

48.0

           
ET-21-236

Sooy Vein

193.9

199.6

5.7

0.34

324.4

0.47

0.73

0.45

427.8

 

including

193.9

196.3

2.3

0.74

676.7

1.06

1.51

1.04

905.2

 

including

195.0

195.8

0.8

0.27

894.0

0.93

0.78

0.51

1,039.3

 

FW Discovery Zone

246.6

253.8

7.2

0.16

480.7

0.69

3.81

6.65

870.3

 

including

246.6

251.5

4.8

0.17

702.9

1.02

5.59

9.65

1,265.9

 

including

248.1

250.8

2.7

0.24

1,069.5

1.25

6.43

9.34

1,669.8

 

including

249.1

250.8

1.7

0.29

1,381.9

1.55

7.01

9.24

2,025.7

 

including

249.6

250.1

0.5

0.32

2,093.0

2.61

11.02

14.07

3,096.3

 

and

265.2

267.5

2.3

0.06

105.8

0.06

0.10

0.45

133.2

 

and

306.1

307.3

1.3

0.03

26.1

0.02

0.28

0.63

58.7

Hole ID

Comment

From

To

Length(1)

Gold

Silver

Copper

Lead

Zinc

AgEq Total (2)

  

m

m

m

g/t

g/t

%

%

%

g/t

ET-21-241

Sooy Vein

223.1

225.6

2.5

0.57

8.7

0.01

0.07

0.16

59.9

 

FW Discovery Zone

289.4

294.8

5.4

0.21

727.1

0.59

0.36

0.76

833.7

 

including

291.1

294.2

3.1

0.34

1,221.1

1.00

0.59

1.30

1,399.6

 

including

291.1

292.3

1.3

0.65

1,746.0

1.48

1.16

2.14

2,036.4

 

including

293.2

294.2

1.1

0.23

1,519.0

1.16

0.36

1.26

1,698.3

           
ET-21-246

Sooy Vein

194.7

196.3

1.6

1.64

999.5

0.78

3.99

6.13

1,495.3

 

including

194.7

195.6

0.9

2.81

1,711.0

1.34

6.83

10.47

2,559.2

 

Sooy Vein

199.8

205.1

5.3

0.09

95.8

0.12

0.46

0.38

137.3

 

including

203.7

204.2

0.5

0.37

596.0

0.81

3.92

3.60

913.7

 

and

229.2

234.9

5.7

0.03

61.2

0.04

0.13

0.04

72.1

           
ET-21-250

Sooy Vein (3)

137.0

145.9

7.4

0.22

114.7

0.03

0.20

0.54

156.2

 

Including (4)

140.0

145.4

3.9

0.33

171.4

0.04

0.35

0.94

239.1

 

including

144.9

145.4

0.5

1.43

1,044.0

0.23

2.09

5.67

1,410.8

           

Notes:

  1. Not true width.
  2. Silver Equivalent ("EqAg") ratios are based on a silver to gold price ratio of 75:1 (Au:Ag). Copper, lead and zinc are converted using $3.66/lb copper, $0.90/lb lead, $1.26/lb zinc at 100% metal recoveries based on a silver price of $26.00/oz.
  3. Excludes 1.5 meters of mining void.

* Mining void.

Drill Hole Location Table

Hole ID

Section

Easting

Northing

Elevation

Az

Dip

Length

ET-20-202

4900N

670739

3384897

1865.3

90

-60

312.1

ET-21-236

4925N

670744

3384919

1862.5

90

-56

396.5

ET-21-241

4950N

670741

3384940

1851.6

90

-60

363.0

ET-21-246

4950N

670741

3384940

1851.6

90

-50

414.8

ET-21-250

4950N

670742

3384940

1851.2

90

-40

347.7

Plan Map of the Sooy Vein

El Tigre Cross Section 4925N (Drill Hole ET-21-236)

El Tigre Cross Section 4950N (Drill Holes ET-21-241, 246 and 250)

El Tigre Resource Estimate

After acquiring El Tigre, Silver Tiger drilled 12,500 meters to define the wide halo of near surface gold mineralization around the mined high-grade veins of the historic El Tigre Mine. This allowed Silver Tiger to deliver a maiden resource estimate for the El Tigre Property to a depth of 150 meters containing indicated resources of 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51 g/t gold) and inferred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold). The National Instrument 43-101 Technical Report titled "NI 43-101 Technical Report and Updated Mineral Resource Estimate on the El Tigre Project, Sonora, México" effective as of September 7, 2017 and dated October 26, 2017 prepared by David Burga, P.Geo., Yungang Wu, P.Geo., Fred Brown, P.Geo., Jarita Barry, P.Geo., Eugene Puritch, P.Eng., FEC, CET, Alfred Hayden, P.Eng. and Richard H. Sutcliffe, Ph.D., P.Geo. of P&E Mining Consultants Inc. is available on the Corporation's website at www.silvertigermetals.com and on www.sedar.com under the Corporation's profile.

About the El Tigre Historic Mine District

Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years' experience discovering, financing and building large hydrothermal silver projects in Mexico. Silver Tiger's 100% owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger.

The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madre silver and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas at the northern end. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with the Brown Shaft in 1903. The focus soon changed to mining high-grade silver veins in the area with production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the middle El Tigre vein extended 1,450 meters along strike and was mined on 14 levels to a depth of approximately 450 meters. The Seitz Kelley Vein was mined along strike for 1 kilometer to a depth of approximately 200 meters. The Sooy Vein was only mined along strike for 250 meters to a depth of approximately 150 meters. Mining abruptly stopped on all 3 of these veins when the price of silver collapsed to less than 20¢ per ounce with the onset of the Great Depression. By the time the mine closed in 1930, it is reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period was over 2 kilograms silver equivalent per ton.

The El Tigre silver and gold deposit is related to a series of high-grade epithermal veins controlled by a north-south trending structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex within a broad silver and gold mineralized prophylitic alteration zone developed in the El Tigre Formation that can be up to 150 meters wide. The veins dip steeply to the west and are typically 0.5 meter wide but locally can be up to 5 meters in width. The veins, structures and mineralized zones outcrop on surface and have been traced for 5.3 kilometers along strike in our brownfield exploration area. Historical mining and exploration activities focused on a 1.6 kilometer portion of the southern end of the deposits, principally on the El Tigre, Seitz Kelly and Sooy veins. The under explored Caleigh, Benjamin, Protectora and the Fundadora exposed veins continue north for more than 3 kilometers. Silver Tiger has delivered its maiden 43-101 compliant resource estimate and is currently drilling to update its resource estimate and publish a PEA.

VRIFY Slide Deck and 3D Presentation - Silver Tiger's El Tigre Project

VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.

Access the Silver Tiger Metals Inc. Company Profile on VRIFY at: https://vrify.com

The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at: https://vrify.com/explore/decks/492 and on the Corporation's website at: www.silvertigermetals.com.

Procedure, Quality Assurance / Quality Control and Data Verification

The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of the core being bagged and tagged for assay. The remaining half portion is returned to the core trays for storage and/or for metallurgical test work.

The sealed and tagged sample bags are transported to the Bureau Veritas facility in Hermosillo, Mexico. Bureau Veritas crushes the samples (Code PRP70-250) and prepares 200-300 gram pulp samples with ninety percent passing Tyler 200 mesh (Code PUL85). The pulps are assayed for gold using a 30-gram charge by fire assay (Code FA630) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code FA530). Silver and multi-element analysis is completed using total digestion (Code MA200 Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a gravimetric finish (Code FA530).

Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples and includes the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. All results stated in this announcement have passed Silver Tiger's QA/QC protocols.

Qualified Person

David R. Duncan, P. Geo., V.P. Exploration of the Corporation, is the Qualified Person for Silver Tiger as defined under National Instrument 43-101. Mr. Duncan has reviewed and approved the scientific and technical information in this press release.

For further information, please contact:

Glenn Jessome
President and CEO
902 492 0298
jessome@silvertigermetals.com

CAUTIONARY STATEMENT:

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 release.

This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, the ability to convert inferred resources to indicated resources, the ability to complete future drilling programs and infill sampling, the ability to extend resource blocks, the similarity of mineralization at El Tigre to Delores, Santa Elena and Chispas, exploration results, and future plans and objectives of Silver Tiger, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as "may", "is expected to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Silver Tiger believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Silver Tiger's expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Silver Tiger with securities regulators.

SOURCE: Silver Tiger Metals Inc.



View source version on accesswire.com:
https://www.accesswire.com/662939/Silver-Tiger-Intersects-20257-GT-AgEq-over-17-Meters-within-a-Broader-Interval-of-72-Meters-Grading-8703-GT-AgEq-in-Drill-Hole-21-236

Today’s News

Granada Gold Mine Extends Warrant Terms

 

Rouyn Noranda, Q.C. – TheNewswire – September 24, 2021 – Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”)…

Share this article:



 

Rouyn Noranda, Q.C. - TheNewswire - September 24, 2021 - Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) announces that it will be extending the expiry date of an aggregate 6,861,806 share purchase warrants (the "Warrants") by two years.  The 6,861,806 Warrants are due to expire on October 18 and November 6, 2021. The expiry date will be extended by two years and the Warrants will now expire on October 18 and November 6, 2023.  All other terms and conditions remain constant.

 

The private placement units were issued at a price of $0.15 per unit and consisted of one common share and one Warrant entitling the holder to purchase one additional common share at an exercise price of $0.15 per share for a period of three years from closing.  The amendment is subject to the approval of the TSX Venture Exchange.

 

About Granada Gold Mine Inc.

 

Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.

 

The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.

 

The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings.  In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au.  They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.  

 

“Frank J. Basa”

Frank J. Basa, P. Eng.

Chief Executive Officer

 

For further information, Contact:

Frank J. Basa, P.Eng.

Chief Executive Officer

P: 416-625-2342

  

Or:

 

Wayne Cheveldayoff,

Corporate Communications

P: 416-710-2410

E: waynecheveldayoff@gmail.com

 

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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

  

Copyright (c) 2021 TheNewswire - All rights reserved.

Continue Reading

Today’s News

Bravada Gold Corporation Applies to Extend Closing of Non-Brokered Private Placement

Vancouver, British Columbia–(Newsfile Corp. – September 24, 2021) – Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported…

Share this article:

Vancouver, British Columbia--(Newsfile Corp. - September 24, 2021) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported today that the Company has requested a 30-day extension, subject to TSXV approval, to close the previously announced non-brokered private placement.

The Company announced (August 9th, 2021) that it had closed the first tranche of its previously reported non-brokered private placement by issuing 4,260,000 units at a price of $0.07 per unit for gross proceeds of $298,200. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.12 per share.

Net proceeds from the private placement will be used for continued exploration on the Company's 100% owned Wind Mountain Au-Ag project, sustaining fees for the Company's Nevada-based claims, and for working capital.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the units, nor shall there be any sale of the units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The units being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.

About Bravada

Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits, frequently attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.

Since 2005, the Company signed 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, answering commonly asked investor questions. Simply click on this link https://bravadagold.com/projects/project-videos/.

-30-

On behalf of the Board of Directors of Bravada Gold Corporation

"Joseph A. Kizis, Jr."

Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation

For further information, please visit Bravada Gold Corporation's website at bravadagold.com or contact the Company at 604.684.9384 or 775.746.3780.

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 release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

This news release is not intended for distribution to United States newswire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97635

Continue Reading

Today’s News

Commerce Resources Corp. Announces Warrant Extension and Repricing

VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied…

Share this article:

VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied to the TSX Venture Exchange (the "Exchange") for an amendment to the terms of the 9,674,153 warrants (the "Warrants") issued in connection with the Company's private placement which held its first closing on October 11, 2019 and second closing on October 31, 2019. The Company proposes to extend the expiry date of the Warrants from October 11, 2021 to October 11, 2024 in respect of the first closing and October 31, 2021 to October 31, 2024 in respect of the second closing. In addition, the Company has applied for an amendment of the Warrants' exercise price from $0.50 to $0.285. All other terms of the Warrants will remain the same. The extension of the expiry date and repricing is subject to the approval of the Exchange.

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed REC and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

"Chris Grove"

Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Commerce Resources Corp.



View source version on accesswire.com:
https://www.accesswire.com/665534/Commerce-Resources-Corp-Announces-Warrant-Extension-and-Repricing

Continue Reading

Trending