MAG Silver to acquire Deer Trail project in Utah
The carbonate replacement deposit was intermittently mined for high-grade silver, gold, lead, zinc and copper sulphides until 1985, when the mine closed leaving faces in massive sulphide.
The carbonate replacement deposit was intermittently mined for high-grade silver, gold, lead, zinc and copper sulphides until 1985, when the mine closed leaving faces in massive sulphide.
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Company completed an initial resource on Los Ricos South late last month.
Under the deal, a company controlled by Eric Sprott, acquired around 5 million units for a total consideration of C$10 million.
Bogoso currently has measured and indicated resources of 1.76 million ounces of gold contained within 19.8 million tonnes grading 2.76 grams gold per tonne.
The company has announced that it is setting up NetZero Metals, a wholly-owned subsidiary that will use existing technologies to produce zero-carbon nickel, cobalt, and iron products.
Highlights from the drill program include drill hole 20-255, which intersected 14 metres grading 13.95 grams gold per tonne starting from 301 metres downhole.
The company has announced an increase of 554,000 oz. of gold resources at its Hounde mine in Burkina Faso.
The acquisition will give Scorpio control of land around its Goldwedge project, which contains a fully permitted underground mine and 400 ton-per-day mill.