Junior roundup: Mirasol, Centaurus, Alicanto, Geologix

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Friday, September 1, 2017

Vancouver's Mirasol Resources completed the exit process from the joint venture agreement with Cerro Vanguardia for the Claudia gold-silver project in Argentina, a company statement said.

Under the terms, Mirasol has received the full exploration data set from Cerro Vanguardia's US$1.97mn exploration program completed at Claudia. Mirasol will receive a US$205,000 payment from Cerro Vanguardia in lieu of certain uncompleted exploration commitments.

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Australia's Centaurus Metals completed the initial phase of diamond drilling at the Serra Misteriosa gold project in northern Brazil.

The company has decided to suspend drilling while it undertakes a detailed review of the results to date before moving ahead to the next round of exploration, it said in a press release.

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Guyana-focused Alicanto Minerals completed several option agreements granting the company the exclusive right to explore and acquire a 100% interest in mining permits totaling approximately 60km2 that are contiguous to its Ianna gold project.

The additional tenure increases the project's size to 115km2, covering multiple northwest trending mineralized structures in the Barama-Mazaruni greenstone belt, Alicanto said in a statement.

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Vancouver-based Geologix Explorations restarted field work at its Tepal gold-copper project in Mexico's Michoacán state following a multi-year hiatus due to prevailing low metals prices and following the completion of a Cdn$1.2mn (US$963,240) oversubscribed financing, according to a release.

The company's new management and technical team is preparing a staged exploration approach for Tepal designed to expand the economic resource base and make additional discoveries with the goal of enhancing the preliminary economic assessment before moving to a prefeasibility and/or feasibility stage, Geologix said.