Mexico , Ecuador and Chile

Junior roundup: Salazar, SilverCrest, Coro, Cyprium

Bnamericas Published: Friday, April 29, 2016

Vancouver's Salazar Resources completed a US$1.05mn private placement of units and debt settlement as part of the company's recapitalization plan, according to a statement.

The third part of the plan involves the sale of a 2% net smelter returns royalty interest in its Curipamba project in Ecuador for US$4.75mn, which is to be completed in two tranches, with the first expected to close in late May.


Vancouver's SilverCrest Metals reported additional results from the underground channel sampling program and start of a surface drilling program at its Las Chispas project in Mexico's Sonora state.

Sample results averaged 1.1m of 2.4g/t gold and 175g/t silver. The 3,000m surface drilling program began late March and to date six holes have been completed for a total of 1,500m, the company said in a press release.


Chile-focused Coro Mining reported results of the first eight holes from a recently completed 16-hole, 2,680m reverse circulation drilling program at its Marimaca copper project.

Highlights include 200m at 0.71% copper, and 158m at 0.69% copper. A full description of the mineralization will be announced shortly, a statement said.


Montreal's Cyprium Mining completed a second closing of its previously announced private placement of up to 8mn units for gross proceeds of Cdn$520,000 (US$415,526), to be used for the continued development of the company's Potosí project in Mexico, the costs of the offering, working capital and general corporate purposes.

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