Junior roundup: GoldQuest, Duran, Inca, Azure, Consolidated Zinc

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Monday, September 4, 2017

Dominican Republic-focused GoldQuest Mining announced the retirement of Julio Espaillat as CEO, who will remain on the board, and the appointment of executive chairman Bill Fisher as the new CEO of the company.

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Peru-focused Duran Ventures completed the second tranche of its previously announced Cdn$250,000 (US$201,450) non-brokered private placement financing of units for gross proceeds of Cdn$37,500.

In total, the first two tranches of the offering consisted in gross proceeds to the company of Cdn$137,500. Duran may close one or more additional tranches, however there can be no assurances that any such closes will occur.

The proceeds will be used for the Aguila Norte processing plant commissioning and operations, and general and administrative purposes, said a company statement.

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Peru-focused Inca Minerals commenced an underground mapping and sampling program at its Cerro Rayas project, located 15km northeast from its other zinc-focused project, Riqueza, which is currently being drilled.

The mapping and sampling is expected to take three weeks to complete, with a further three-four weeks for assay results, a press release said.

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Mexico-focused Azure Minerals reported assay results from diamond drilling at its newly acquired Oposura project in Sonora state, which has confirmed significant widths of high-grade zinc-lead-silver mineralization.

Drilling intersects of zinc and lead up to a maximum of 68.6% zinc-lead, with substantial widths of sulfide mineralization present in most holes. Metallurgical and mining studies are in process, with a resource drill-out campaign expected to start in October, said a company statement.

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Mexico-focused Consolidated Zinc announced an upgraded mineral resource estimate for its Plomosas zinc-lead-silver project, a securities filing said.

The resource estimate contains 968,000t at 15.9% zinc-lead and 24.0g/t silver for 154,000t of contained metal in both indicated and inferred resources, which represents an overall increase of 70% resource tons and an increase of 60% of contained metal.