Junior roundup: Reunion, Neo Lithium, Cornerstone

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Monday, December 4, 2017

Reunion Gold closed a previously announced non-brokered private placement with Barrick Gold for proceeds of Cdn$9.12mn (US$7.20mn), to be used to fund exploration and development at its mineral projects, a statement said.

Quebec-based Reunion has projects in French Guiana and Guyana.

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Argentina-focused Neo Lithium announced the results of initial exploration efforts for its 2017-18 campaign, as well as the final results from the acceleration of its outstanding warrants issued in a private placement.

Seismic reflection results indicate that the Tres Quebradas (3Q) salar is approximately 600m deep, and as a result the drill program has been expanded at depth and in new untested areas. The first drill hole of 320m resulted in an average grade of 642mg/l lithium.

The company also announced the receipt of Cdn$15.6mn through the early exercise of warrants issued in February. Neo Lithium has approximately Cdn$65mn in cash, it said in a press release.

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Ontario-based Cornerstone Capital Resources said in a statement an airborne magnetic and radiometric regional survey has begun on its Espejo, Playa Rica and Rio Magdalena blocks, part of the Enami EP-Cornerstone JV agreement in northwest Ecuador.

The data generated will be integrated with ongoing field surveys to refine and prioritize exploration targets for 2018, the company said.