Minera Alamos completes phase 2 of test heap leaching at Santana gold project in Sonora, Mexico with further positive results
Momentum Public Relations
Press Release: May 17 2018
Minera Alamos Inc. (“Minera Alamos” or the “Company”) (TSX VENTURE:MAI) is pleased to report that it has now completed the second phase of its bulk testing heap-leach activities at its 100% owned Santana gold project in Sonora, Mexico. The Company is now performing a full review of the leaching results as part of if its final project evaluation prior to making commercial production decisions for the project.
Over the past year, the Company’s wholly-owned subsidiary Corex Gold has been conducting continuous bulk heap-leach testing activities at the Santana gold project in accordance with its current test mining permit. Following the successful completion of an initial phase that utilized coarse crushing (<3″) only, the second phase involved fine crushing (<1.2-5/8′) and agglomeration of the same mineralized material prior to leaching. Ultimate gold recoveries from the second phase were excellent and consistent with those from the first phase of testing. Approximately 5860g (~190 oz) of gold were recovered from a total of 9000 tonnes of material over a three month leach period – 0.65 g/t of recovered gold. While the use of fine crushing/agglomeration appears to improve the gold leach kinetics, ultimate recoveries remained similar to those achieved leaching coarse material.
“The results from the bulk heap leach testing program over the past year have been extremely positive. The operation of the Santana test leaching facilities provides for a significant de-risking of the project by comparing laboratory scale metallurgical results to those achieved at a bulk scale under conditions similar to those envisioned for commercial operations.” stated Darren Koningen, CEO of Minera Alamos. “To date, the Company has tested approximately 35,000 tonnes of mineralized material with ultimate gold recoveries exceeding expectations and appearing to be consistent over the range of crush sizes tested. This creates an ideal environment for a robust commercial heap leaching operation at the Santana project site. Once a final data review/optimization is completed, incorporating results from the upcoming drill program announced earlier this month, the Company expects to target the advancement of Santana as the first commercial mining operation from our portfolio of advanced stage gold projects.”
As done previously, the second carbon shipment from the test facility will be shipped later this week for desorption and precious metals recovery operations at Metals Research Corporation in Kimberly, Idaho. Final doré is delivered for refining to Cascade Refining Inc. of Salt Lake City, Utah.
Note: |
The Company is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability. Minera Alamos acknowledges and advises there is increased uncertainty and that there are specific economic and technical risks of failure associated with any production decision. The Company believes the historic experience and track record of senior management with gold heap leaching and by advancing in careful prudent steps helps ameliorate possible technical risks. |
About Minera Alamos
Minera Alamos is an advanced stage exploration and development company. Its growing portfolio of high-grade Mexican projects includes the La Fortuna open pit gold project in Durango and the Guadalupe de los Reyes gold/silver project in Sinaloa as well as the now combined Santana/Los Verdes gold-copper project in Sonora. The Company is well financed to conduct all of its planned exploration and development activities and continues to pursue additional project acquisitions in Latin America.
Mr. Darren Koningen, P. Eng., Minera Alamos’ CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures in this news release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain “forward-looking statements”, which often, but not always, can be identified by the use of words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. These statements are based on information currently available to Minera Alamos and Minera Alamosprovides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos’ future plans with respect to the Projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the Projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos’ mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos’financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos’ activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos’ forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos’ forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamosor on its behalf, 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 RELEASE.
SOURCE Minera Alamos Inc.
View original content: http://www.newswire.ca/en/releases/archive/May2018/17/c7766.html
Contact:
Please Contact: Minera Alamos Inc., Darren Koningen, CEO, Tel: 416-306-0990, Email: dkoningen@mineraalamos.com, Website: www.mineraalamos.com; Doug Ramshaw, President, Tel: 236-521-0429, Email: dramshaw@mineraalamos.com
- Published in Corex Gold
Corex Gold and Minera Alamos Join Forces to Build Major Latin American Gold Company
Momentum Public Relations
Press Release: April 9, 2018
MomentumPR’s client, Corex Gold, is listed on the TSX Venture exchange under the symbol: CGE. Following the transaction closing the Company will trade under the ticker symbol: MAI.
Momentum PR is pleased to have produced an informative and comprehensive report on Corex Gold, available here – Corex Gold Corporation Report.
Corex Gold Merger Highlights
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Corex merges with Minera Alamos to form Latin American Gold Rollup Company
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Merged company backed by Osisko Gold Royalties
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Gold Production targeted at 150,000 ounces annually within three-four years
Corex Gold, (TSXV: CGE) (OTCQB: CGEKF) is about to merge with Minera Alamos, (TSXV: MAI). Together the two companies will have a market cap in the C$45 million range and three gold properties under development.
Corex’s flagship project, Santana, will be the first out of the gate and into commercial production with an estimated 25,000 to 35,000 ounces of gold annually. Revenues generated from Santana will be used to put two Minera Alamos properties, La Fortuna and Guadelupe dos Reyes into production.
The merged company will have an important advantage in that it is being backed by Osisko Gold Royalties Ltd, (TSX: OR). On May 30, 2017 Osisko bought 19.9% of Minera Alamos as part of a royalty stream agreement.
On February 16, 2018, Osisko issued an early warning announcement that it had bought the 16.12% of Corex shares previously held by Minera Alamos. As a result, Osisko will hold between 17-18% of the merged company.
Corex CEO Doug Ramshaw, “Osisko is known to be one of the more preeminent and aggressive royalty companies. If you are going to build a portfolio of development projects that you want to put into production having a partner that will assist in your funding through royalties is not a bad thing.”
Corporate strategy going forward is to put the three wholly owned assets, Santana, Fortuna and Guadelupe into production. Then they will find opportunities to leverage their technical expertise and corporate backing to acquire and put in production low-cost heap leachable projects that are too small, from a production point for the big companies to be interested but which can be profitably processed by heap leaching.
With the right grade, as Ramshaw points out, heap leaching gold will still be profitable if the price of gold falls back because it is the low-cost production technique.
Momentum PR is pleased to have produced an informative and comprehensive report on Corex Gold, available here – Corex Gold Corporation Report.
If you would like more information on Corex Gold; listed on the TSX Venture exchange under the symbol: CGE. Following the transaction closing the Company will trade under the ticker symbol: MAI.
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- Published in Corex Gold
Corex Gold Receives Overwhelming Shareholder Approval for Plan of Arrangement With Minera Alamos Inc.
Corex Gold Corporation (“Corex” or the “Company”) (TSX-V:CGE) is pleased to announce that shareholders of the Company have overwhelmingly voted in favour of the previously announced plan of arrangement (the “Arrangement”) with Minera Alamos Inc. (TSX Venture:MAI), see press release dated January 30th 2018.
A total of 71,679,327 common shares of the Company, representing approximately 45.25% of the Company’s issued and outstanding common shares were voted. The Arrangement was approved by 100% (due to rounding) of the votes cast by Corex shareholders (including disinterested shareholders). A copy of the complete report on voting will be made available on SEDAR at www.sedar.com.
A summary of the voting results is presented below:
Total Votes FOR: | 71,677,817 | Total Votes AGAINST: | 1,510 |
Disinterested Votes FOR: | 61,166,237 | Disinterested Votes AGAINST: | 1,510 |
The Arrangement is expected to close on or about April 10, 2018 resulting in Corex becoming a wholly owned subsidiary of Minera Alamos with the former shareholders of Corex thereafter owning approximately 50% of Minera Alamos, The closing is subject to applicable regulatory approvals and the satisfaction of other customary conditions.
About Corex Gold Corporation
Corex Gold Corp is a Canadian resource company focused on developing its 100% owned Santana flagship property in Sonora State, Mexico, where recent bulk test leaching and development work has resulted in the first gold produced from the property.
For Further Information Please Contact: | ||||
Corex Gold Corporation | ||||
Doug Ramshaw | President & CEO | |||
Tel: 236-521-0429 | Email: doug@corexgold.com | Website: www.corexgold.com | ||
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “Forward‐Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward‐looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: anticipated timing of closing of the Arrangement.
These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by the Company, are inherently subject to uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and Corex has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: satisfaction or waiver of all applicable conditions to closing of the Arrangement including, without limitation, receipt of all necessary court, stock exchange and regulatory approvals or consents and lack of material changes with respect to Minera Alamos and Corex and their respective businesses, all as more particularly set forth in the Arrangement Agreement. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although the parties have attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Corex does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
- Published in Corex Gold
Osisko Gold Royalties Ltd. buys 25.3M Corex Gold shares
Momentum Public Relations
Press Release: February 16, 2018
Pursuant to National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Alamos Gold Inc. is issuing this news release, having sold 25.3 million common shares of Corex Gold Corp., representing approximately 16.12 per cent of the outstanding shares of Corex by way of a private share purchase and sale agreement with Osisko Gold Royalties Ltd., at a price of 13 cents per common share for gross proceeds of $3,289,000. Following the transaction, Alamos will hold no shares in Corex.
The early warning report, as required under National Instrument 62-103, contains additional information with respect to the foregoing matters and will be filed by the company on Corex’s SEDAR profile.
Alamos carried out the transaction for investment purposes.
About Alamos Gold Inc.
Alamos is a Canadian-based intermediate gold producer with diversified production from four operating mines in North America. This includes the Young-Davidson and Island gold mines in Northern Ontario, Canada, and the Mulatos and El Chanate mines in Sonora state, Mexico. Additionally, the company has a significant portfolio of development-stage projects in Canada, Mexico, Turkey and the United States.
- Published in Corex Gold
Minera Alamos and Corex Gold Combine to Create a Leading Mexican Gold Company
Momentum Public Relations
Press Release: January 30 2018
Minera Alamos Inc. (“Minera Alamos”) (TSX VENTURE:MAI) and Corex Gold Corporation (“Corex”) (TSX VENTURE:CGE) are pleased to announce that they have entered into a definitive arrangement agreement dated January 30, 2018 (the “Agreement”) to combine the two companies, creating a well-funded, multi-asset, Mexican gold development company (the “Transaction”). The combined company will have a market capitalization of approximately C$50 million, approximately C$6 million in cash and a portfolio of three high quality gold-silver development assets, each offering near-term production potential and low capital cost advantages.
Under the terms of the Agreement, each Corex shareholder (“Corex Shareholder”) will be entitled to receive 0.95 common shares of Minera Alamos (“Minera Alamos Shares”) in exchange for each Corex share (“Corex Share”) held. Upon completion of the transaction, existing Minera Alamos and Corex shareholders will each own approximately 50% of the outstanding shares of the combined company (the “Company”).
Transaction Highlights
- Continued accretive and aggressive growth through acquisitions: The arrangement with Corex represents the second major transaction completed by Minera Alamos in the last three months following the announcement of the company’s strategic partnership with Osisko Gold Royalties Ltd. and stated goal to build a significant new gold producer in Latin America.
- Multi-asset gold company with growing production potential: The combined company will have three advanced-stage gold-silver assets in Mexico supporting the vision of becoming a near‑term gold producer with an expanding resource base.
- Expanded management and technical capabilities: The proven mine development team and board of directors of Minera Alamos will be further enhanced by the continuing involvement of Chester Millar, Canadian Mining Hall of Fame Inductee and former Chairman of Eldorado Gold Corporation, Glamis Gold Ltd., Alamos Gold Inc. and Castle Gold Corporation.
- Strong Shareholder Support: Minera Alamos has entered into voting and support agreements with each director and senior officer of Corex and certain significant shareholders representing approximately 26% of the outstanding Corex Shares.
- Real Property Synergies: Corex’s Santana claim area is contiguous with Minera Alamos’ Los Verdes mineral claims and there is an immediate opportunity to continue exploration of the Santana gold structures drilled to date which may extend into the Los Verdes area.
Darren Koningen, President and CEO of Minera Alamos, said, “The combination with Corex is the next phase of our previously announced strategy of acquiring and advancing low development cost gold projects. The Santana project is highly complementary to our existing portfolio and offers tremendous resource upside, coupled with a unique ability to fast-track the Company’s transformation into a gold producer utilizing the existing heap leach infrastructure already in place at site. We are well-positioned to grow quickly into a leading junior gold producer with significant exploration upside.”
Doug Ramshaw, President and CEO of Corex, stated, “I am extremely excited for the prospects of the combined company. We are reuniting the Castle Gold development team led by Chester Millar and Darren Koningen which successfully drove the development of the El Castillo gold mine subsequently acquired by Argonaut Gold for C$130 million. For Corex shareholders we expect the transaction will allow for the accelerated development of Santana towards a commercial scale production decision and we will also benefit from the pipeline of high quality development assets in Minera Alamos.”
Benefits to Corex Shareholders
- Diversifies asset base with two additional high quality precious metals assets contributing toward a portfolio approach to future production
- Access to expanded technical team with proven gold mine development and operational team led by Darren Koningen
- Strengthens balance sheet, providing financial resources for advancement of Santana production initiatives and longer-term exploration opportunities
- Enhances shareholder base with long-term funding partners to evaluate and execute on medium-term growth plans
- Increases trading liquidity, strengthens capital markets profile, and provides a strong platform for future acquisitions
Benefits to Minera Alamos Shareholders
- Adds advanced stage asset to portfolio to help fund future growth: Following the completion of the current test mining program the combined management group will look to move quickly towards commercial production.
- Doubles market capitalization, allowing Minera Alamos to continue to pursue its acquisition and development strategy
- Strengthens Board of Directors with the expected additions of Chester Millar, a heap leach pioneer and member of the Canadian Mining Hall of Fame, and Doug Ramshaw, a mining geologist and capital markets professional with more than two decades of global industry experience
- Boosts Minera Alamos’s exploration pipeline with opportunities for significant resource growth and regional exploration across three assets
Transaction Summary
The proposed business combination will be completed by way of share exchange pursuant to a statutory plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia) resulting in Corex becoming a wholly owned subsidiary of Minera Alamos, and will require, among other things, the approval of at least 66 2/3 percent of the votes cast by shareholders of Corex at a special meeting expected to be held in April 2018 (the “Corex Meeting”). The Transaction will also require approval by a “majority of the minority” of the shareholders of Corex pursuant to Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions. Shareholders of Corex representing approximately 26% of the issued and outstanding Corex Shares, including all of the directors and senior officers, as well as certain shareholders of Corex, have entered into voting and support agreements with Minera Alamos in support of the Transaction.
The Arrangement will also provide for the issuance by Minera Alamos of replacement stock options to Corex optionholders who do not exercise their Corex options prior to the effective time of the Arrangement, at exercise prices adjusted by the exchange ratio. Under the Arrangement all existing warrants of Corex will become exercisable to acquire Minera Alamos common shares at exercise prices adjusted by the exchange ratio.
In addition to required shareholder and court approvals, the Transaction is subject to applicable regulatory approvals including approval of the TSX Venture Exchange and the satisfaction of certain other customary closing conditions in transactions of this nature.
The Agreement includes customary provisions including non-solicitation provisions, a right to match any superior proposal, a “fiduciary out” clause and a C$600,000 termination fee payable to Minera Alamos in certain circumstances if the Transaction is not completed. Full details of the Transaction will be included in the management information of Corex describing the matters to be considered at the Corex Meeting, which is expected to be mailed to the shareholders of Corex in early March 2018, and made available on SEDAR under Corex’s issuer profile at www.sedar.com.
Board of Directors’ Recommendations
The Board of Directors of Corex, has unanimously approved the proposed Transaction and recommends that Corex Shareholders vote in favour of the proposed Transaction. The Board of Directors of Corex has received an opinion from Fort Capital Partners that, based upon and subject to the assumptions, limitations, and qualifications stated in such opinion, the consideration to be received by Corex Shareholders pursuant to the proposed Transaction is fair, from a financial point of view, to the Corex Shareholders.
Additionally, the Board of Directors of Minera Alamos has unanimously approved the proposed Transaction. The Board of Directors of Minera Alamos received an opinion from Haywood Securities Inc. that, based upon and subject to the assumptions, limitations, and qualifications stated in such opinion, the consideration to be paid by Minera Alamos pursuant to the proposed Transaction is fair, from a financial point of view, to the Minera Alamos Shareholders.
Company Project Portfolio
The Company’s project portfolio offers a compelling mix of potential future production and a pipeline of late‑stage development projects all within Mexico.
Santana (Corex) – Gold heap leach pilot test production underway
Corex’s flagship property is the 100% owned Santana Project (“Santana”), located 50 km southwest of Alamos Gold Inc.’s Mulatos Mine in Sonora, Mexico. The property spans an 8,500 hectare land package in the Sierra Madre Occidental Range, one of the most prolific precious metals regions globally. Surrounded by excellent infrastructure, Santana is permitted for Corex’s ongoing bulk-sampling and heap leach studies. To date approximately 23,000 tonnes of mineralized material have been leached under the bulk test program with the first gold sale of 220 oz reported in October 2017 and a pending second gold sale that will allow for the reconciliation of final gold recoveries. The results to date from the initial bulk test have confirmed or exceeded management’s expectations for gold recovery and leach times as well as reagent consumptions.
Santana is envisioned as an open pit heap leach project with a large contiguous land package containing numerous exploration targets property-wide. The project claim area is also contiguous with Minera Alamos’ Los Verdes mineral claims and the Santana gold structures drilled to date may extend into the Los Verdes area.
La Fortuna(Minera Alamos) – Permitting underway with PEA expected in Q1-2018
La Fortuna is located in the northwestern corner of the State of Durango, Mexico, about 70 kilometers northeast of Culiacan, Sinaloa where Minera Alamos operates its Mexican office. The property includes the historic La Fortuna mine together with surrounding concessions, totaling +6,200 hectares. All key technical studies (resource, mine planning, metallurgy, tailings design, etc.) have been completed for the project Main Zone and the company has already acquired a used processing plant that can serve as the core of the site infrastructure requirements. Environmental permit applications have been submitted and are pending.
In addition to the Fortuna Main Zone, several other mineralized areas have been identified and demonstrated via surface sampling to be gold-bearing. Specifically, distinct zones of mineralization have been identified along parallel structures corresponding to the primary regional faulting in this region of Mexico (NW-SE) many of which contain historical mine workings and have been sampled and mapped at surface. Minera Alamos is planning to initiate the first phase of exploratory drilling in Q1-2018.
Guadalupe de los Reyes (Minera Alamos) – Engineering underway to transition to gold heap leach development strategy
Optioned in November of 2017 from Vista Gold Corp., Guadalupe de los Reyes is a gold-silver project located in Mexico’s Sierra Madre Range in Sinaloa, three hours from the company’s Mexican office in Culiacan. The main Guadalupe de los Reyes underground mine was operational from the late 1800s to the 1950’s and to date is the most significant source of gold production in the district. It is historically estimated to have produced approximately 500-600,000 ounces of gold and 40 million ounces of silver over its operational life at reported grades of +10 g/t Au and +500 g/t Ag*1.
Most of the historical production was derived from a single section of mineralized structures over a length of approximately 2 km. At least eight other mineralized zones have been identified at site along three structural arms of the same large regional system. In total, the system mineralization has been mapped at surface over a total combined distance of approximately 10 km. Modern drilling was re-initiated at the Guadalupe project area in the 1990s and was targeted at defining significant areas of shallow and lower grade gold/silver mineralization in areas surrounding the historical Guadalupe underground operations.
The immediate goal for Guadalupe de los Reyes is to utilize the extensive in-house technical expertise to evaluate the project’s potential to be developed as a low capital heap leaching operation.
*1The information regarding grade was obtained from historical information (C.W. Vaupell, February 1936 and Minas de San Luis, S.A. de C.V. report based on National Registry records).
Advisors and Legal Counsel
Haywood Securities Inc. is acting as financial advisor to Minera Alamos and its Board of Directors. Gowling WLG is acting as legal counsel to Minera Alamos.
Fort Capital Partners is acting as financial advisor to the Board of Directors of Corex. McCullough O’Connor Irwin LLP is acting as legal counsel to Corex.
About Minera Alamos Inc.
Minera Alamos is an advanced stage exploration and development company. Its growing portfolio of high-quality Mexican projects includes the La Fortuna open pit gold project in Durango and the Guadalupe de los Reyes gold/silver project in Sinaloa. The company is well financed to conduct all of its planned exploration and development activities and continues to pursue additional project acquisitions in Latin America.
Mr. Darren Koningen, P. Eng., Minera Alamos’ President & CEO, is the Qualified Person responsible for the technical content contained in this press release for Minera Alamos under National Instrument 43‑101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures in this news release.
About Corex Gold Corporation
Corex Gold Corp is a Canadian resource company focused on developing its 100% owned Santana flagship property in Sonora State, Mexico, where recent bulk test leaching and development work has resulted in the first gold produced from the property.
Mr. Mel Herdrick, P. Geo., is the Qualified Person responsible for the technical content contained in this press release for Corex Gold under National Instrument 43‑101. Mr. Herdrick has supervised the preparation of, and approved the scientific and technical disclosures in this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “Forward‐Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward‐looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: closing of the Arrangement; anticipated benefits of the Arrangement to Minera Alamos, Corex and their respective shareholders; the timing and receipt of required shareholder, court, stock exchange and regulatory approvals for the Arrangement; the ability of Minera Alamos and Corex to satisfy the other conditions to, and to complete, the Arrangement; the anticipated timing of the mailing of Corex’s information circular regarding the Arrangement; the anticipated timing of Corex’s shareholder meeting; membership of the Minera Alamos board post-closing; future mineral production and sales; liquidity, enhanced value and capital markets profile of Minera Alamos; future exploration and growth potential for Minera Alamos, Corex and their respective businesses; and development of the Santana property to commercial scale production.
In respect of the forward‐looking statements and forward-looking information concerning the anticipated completion of the proposed Arrangement and the anticipated timing for completion of the Arrangement, the parties have provided such statements in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the time required to prepare and mail shareholder meeting materials, including the required information circular; the ability of the parties to receive, in a timely manner, the necessary shareholder, court, stock exchange and regulatory approvals; and the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Arrangement. These dates may change for a number of reasons, including, but not limited to, unforeseen delays in preparing meeting materials; inability to secure necessary shareholder, court, stock exchange and regulatory approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Arrangement. Accordingly, readers should not place undue reliance on the forward‐looking statements and forward-looking information contained in this news release concerning these times and dates.
These statements reflect the parties’ respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: satisfaction or waiver of all applicable conditions to closing of the Arrangement including, without limitation, receipt of all necessary shareholder, court, stock exchange and regulatory approvals or consents and lack of material changes with respect to Minera Alamos and Corex and their respective businesses, all as more particularly set forth in the Arrangement Agreement; the synergies expected from the Arrangement not being realized; changes in law; fluctuations in general macro‐economic conditions; fluctuations in securities markets and the market price of Minera Alamos’s common shares; availability of necessary future financing; results of exploration programs; receipt of necessary permitting; economic viability of projects; completion of studies. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although the parties have attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The parties do not intend, and do not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
For Further Information Please Contact: Minera Alamos Inc. Darren Koningen President & CEO Tel: 416-306-0990 Email: dkoningen@mineraalamos.com Website: www.mineraalamos.com Corex Gold Corporation Doug Ramshaw President & CEO Tel: 236-521-0429 Email: doug@corexgold.com Website: www.corexgold.com
- Published in Corex Gold
Corex Announces Non-Brokered Private Placement for up to $2,000,000
Momentum Public Relations
Press Release: November 2, 2017
Vancouver, BC – November 2, 2017 – Corex Gold Corp. (the “Company”) is pleased to announce a non-brokered private placement of up to 20,000,000 units at a price of CAD$0.10 per unit, for aggregate gross proceeds of up to CDN $2,000,000. Each Unit will consist of one common share and one non-transferable share purchase warrant. Each warrant will be exercisable by the holder to acquire one additional common share at a price of CAD$0.20 for a period of eighteen (18) months following the closing of the financing.
The net proceeds from this private placement will be used for Corex’s Santana project and for general working capital purposes. The proposed financing is subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a statutory four month hold period under applicable securities laws. Finders’ fees in cash or warrants may be payable in accordance with the policies of the Exchange.
About Corex Gold Corp
Corex Gold Corp is a Canadian resource company focused on achieving near-term economic gold production from its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned flagship property, Santana Project, Sonora State, Mexico.
ON BEHALF OF THE BOARD
“Doug Ramshaw”
President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Doug Ramshaw,
President & CEO
Tel: 236.521.0429
Fax: 604.683-2506
E-mail: doug@corexgold.com
Website: www.corexgold.com
Cautionary Statement:
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.” The foregoing information may contain forward-looking statements relating to the future performance of Corex Gold Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Corex Gold Corp.’s filings with the appropriate securities commissions.
- Published in Corex Gold, Mining, News Home
Corex Gold Corp.: Santana heap-leach gold project; 2017 Construction update
Momentum Public Relations
Press Release: March 29, 2017
VANCOUVER, BRITISH COLUMBIA–(Marketwired – March 29, 2017) – Corex Gold Corp. (TSX VENTURE:CGE) (“Corex” or the “Company”) is continuing construction and mining activities at its 100 -owned Santana heap-leach gold project in Sonora, Mexico.
Jaw crushing and loading started on Nicho Norte zone in late November 2016. A total of 11,210 tonnes of material was crushed in November and December and loaded onto the 1st leach pad. An additional 11,989 tonnes were loaded in January bringing the total to 23,199 tonnes. The pad loading was completed on January 26, 2017. The heap was contoured and the surface broken up in preparation for leaching.
Construction continued on the bulk test process plant and the completion of the distribution system plumbing with several application methods of leach fluid tested. Application of charged leachant to establish alkaline pH has begun with metal leaching to commence later this month.
A second leach pad will allow a separate batch of finer crushed material to be tested to determine the leach and cost characterization of much finer crushing. The results from the two bulk leach pads will be utilized by the Company to verify metallurgical viability of heap leaching and to optimize the most efficient operating methods and equipment.
Construction of the 2nd leach pad, which connects to the first leach pad, is in progress. The 2nd leach pad is about 4,500 square meters. The earthwork or moving of material is substantially complete. The HDPE liners have been ordered and should be installed in early March 2017. This will provide a total leach pad of about 9,000 square meters.
(For recent photos of the Santana heap-leach gold project click here).
“This is an exciting time for shareholders, as we commence our bulk mining and process testing on our Santana Gold Project,” said Craig Schneider, Corex’s President and CEO.
The Company is not basing its production effort on a feasibility study with demonstrated mineral reserves and estimated economic and technical viability. As a result, the Company acknowledges and accepts the higher risk of failure with uncertainty of unverified economic and technical outcome. Corex believes the past experience and prudent track record of Chester Millar developing this type of mine helps ameliorate possible technical risk.
Mel Herdrick P. Geo., is the acting Qualified Person as defined by National Instrument 43-101. He has reviewed and approved the preparation of the technical information in this release. He is a shareholder of the company.
The reader should be cautioned the Company has neither completed economic nor technical feasibility studies or metallurgical studies confirming the projected production capacity at Santana and there is no certainty the Company’s plans will be economically viable.
About Corex Gold Corp.
Corex Gold Corp. is a Canadian resource company focused on achieving near-term economic gold production from its 100 owned flagship property, Santana Project, Sonora State, Mexico.
Cautionary Statement:
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. The foregoing information may contain forward-looking statements relating to the future performance of Corex Gold Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Corex Gold Corp.’s filings with the appropriate securities commissions.
Corex Gold Corp.
Craig Schneider
President & CEO
604.683.2506
604.683.2505
info@corexgold.com
www.corexgold.com
- Published in Corex Gold, Mining, News Home
Corex Receives First Proceeds From Gold Sales At Santana Property
Momentum Public Relations
Press Release: October 31, 2017
VANCOUVER, British Columbia, Oct. 31, 2017 (GLOBE NEWSWIRE) — Corex Gold Corp. (TSXV:CGE) (OTCQB:CGEKF) (“Corex” or the “Company”), is pleased to report that it has received net proceeds of US$278,685.67 from gold recovered and sold from the first gold-in-carbon concentrate shipment (see news release dated October 18th, 2017) from the Santana heap-leach gold project in Sonora, Mexico.
Corex has been conducting bulk testing heap-leach activities at its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}-owned Santana property during 2017 on a roughly 25,000 tonne bulk sample of coarse crushed material. A second shipment of gold-in-carbon concentrate is expected to be exported to the U.S., which will allow the Company to reconcile the data obtained from the bulk leach test work on the coarse crushed material before embarking on a fine crushed bulk test that will ultimately aid in determining the optimized crush size for future leaching of the Nicho North and Nicho zones.
“The first gold sold from the Santana property is not only validation of Chester Millar and our technical team’s belief in the open-pit heap-leach amenable Santana property but also the culmination of years of effort from those that preceded him and originally identified the prospectivity of the area. We look forward to completing the ongoing bulk testing and optimization studies and using future gold concentrate production to reconcile the larger scale potential of the core Nicho zones,” stated Doug Ramshaw, President and CEO.
Custom carbon desorption and precious metal recovery is carried out by Metals Research Corporation in Kimberly, Idaho. Thereafter, the doré is delivered for refining to Cascade Refining Inc. of Salt Lake City, Utah. The refining recovered a total of 219.727 oz of gold and 32.589 oz of silver with a net payable (98.15{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of gold and 85{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of silver) to Corex amounting to 215.662 oz of gold and 27.7 oz of silver.
As specified in the technical operating agreement between Corex and MDG, the proceeds from gold sales recorded during this bulk testing phase will be reinvested to continue development of Santana and reimburse ongoing costs incurred by MDG.
The Company is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability. Corex acknowledges and advises there is increased uncertainty and that there are specific economic and technical risks of failure associated with any production decision. Corex believes the historic experience and track record of Chester Millar with gold heap leaching, of advancing in careful prudent steps, helps ameliorate possible technical risk.
Mel Herdrick, P. Geo., is the acting Qualified Person as defined by National Instrument 43-101. He has supervised the preparation of the technical information in this release. He is a shareholder of the company.
The reader is cautioned the Company has neither completed economic nor technical feasibility studies or metallurgical studies confirming the projected production capacity at Santana and that there is no certainty the Company’s plans will be economically viable. Historically, such projects have a much higher risk of economic or technical failure.
About Corex Gold Corp
Corex Gold Corp is a Canadian resource company focused on achieving near-term economic gold production from its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned flagship property, Santana Project, Sonora State, Mexico.
FOR FURTHER INFORMATION PLEASE CONTACT:
Doug Ramshaw
President & CEO
Tel: 236.521-0429
Fax: 604.683-2506
E-mail: doug@corexgold.com
Website: www.corexgold.com
Cautionary Statement:
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.” The foregoing information may contain forward-looking statements relating to the future performance of Corex Gold Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Corex Gold Corp.’s filings with the appropriate securities commissions.
- Published in Corex Gold, Mining, News Home
Corex Gold receives final land use permit for Santana
Corex Receives Final Land Use Permit, Commences Santana Heap-Leach Construction
– Momentum Public Relations –
Press Release: September 8, 2016
Corex Gold Corp. (“Corex” or the “Company”) (TSX VENTURE:CGE), is pleased to announce it has received its final permit required for the construction of its heap-leach gold operations at its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Santana Project located in Sonora, Mexico.
The land use permit allows Corex to begin ground disturbance activities at Santana, which had previously received all necessary mining permits to allow the Company to develop an open-pit, heap leach gold operation and pilot plant.
Corex is pleased to announce that upon receipt of the land use permit it has mobilized heavy equipment and begun the ground preparation and construction of its initial heap-leach pad that will allow for the pilot testing of the Santana deposit.
The Santana Mine is located in a very favorable area of Mexico with excellent infrastructure and a good year-round climate.
“With this permit in place, and a seasoned operator in H Morgan & Co. (Chester Millar), we now have the ability to rapidly advance the Santana project into production,” said Craig Schneider, Corex’s President and CEO.
Additional construction updates will be provided in the coming weeks.
About Corex Gold Corp
Corex Gold Corp is a Canadian resource company focused on the near-term production, of its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned flagship property, Santana Project, Sonora State, Mexico. In addition, Goldcorp Inc. has implemented an on-going exploration program on Corex’s 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Zuloaga property in Zacatecas State, Mexico.
- Published in Corex Gold, Mining, News Home
Corex Gold (CGE.v) Announces Completion of Financing
Corex Gold Announces Completion of Financing
– Momentum Public Relations – May 9th, 2016
Corex Gold Corp. (“Corex” or the “Company”)(CGE:tsxv), announces that, further to its news releases of April 14, 2016, the Company has subject to final acceptance from the TSX Venture Exchange has completed the non-brokered private placement offering (the “Financing”) of 20,000,000 units (“Unit”) at a price of $0.05 per Unit for gross proceeds of $1,000,000. Each Unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will be exercisable by the holder to acquire one additional common share at a price of CAD$0.15 for a period of twenty four (24) months following the closing of the financing.
The Company has agreed to pay finder’s fees of 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} on a portion of the gross proceeds received by the Company from the sale of Units sold pursuant to the Financing which shall include cash of ($26,250), 700,000 compensation shares, and 525,000 warrants (“Agent Warrants”). Each Agent Warrant shall be exercisable in whole or in part at an exercise price of $0.15 for a period of 24 months from the closing of the Financing.
All securities issued pursuant to the Financing will be subject to a statutory four month and one day hold period from the date of closing of the Financing.
Proceeds will be used for the development of the Santana property in Mexico, general operating purposes, settling current trade payables.
About Corex Gold Corp
Corex Gold Corp is a Canadian resource company focused on the near-term production, of its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned flagship property, Santana Project, Sonora State, Mexico. In addition, Goldcorp Inc. has implemented an on-going exploration program on Corex’s 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Zuloaga property in Zacatecas State, Mexico.
- Published in Corex Gold, Mining, News Home
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