Vancouver, Kelowna, Delta, BC – March 15, 2022 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV, CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO’s and leading experts.
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Exploring Mining 256 – News from (NYSE: RIO) (NYSE: TRQ) (TSXV: AUAU) (NYSE: KGC) (TSXV: SBMI) (CSE: NSG)
Rio Tinto Group (NYSE:RIO) has made a non-binding proposal to the Board of Turquoise Hill Resources Ltd. (NYSE:TRQ) for the acquisition of approximately 49 percent “of the issued and outstanding shares of Turquoise Hill that Rio Tinto does not currently own.” Jakob Stausholm, Rio Tinto’s CEO, explained:
“The Proposed Transaction would enable Rio Tinto to work directly with the Government of Mongolia to move the Oyu Tolgoi project forward with a simpler and more efficient ownership and governance structure. With our relationship reset and the underground operations commenced, this transaction demonstrates our clear and unequivocal long-term commitment to Mongolia.”
Allegiant Gold Ltd. (TSXV:AUAU) has received a $4,014,404 financing and strategic investment from Kinross Gold Corporation (NYSE:KGC) to “accelerate the exploration and development activities at the Eastside property in Nevada.” Following this investment, Kinross owned 9.9 percent of the then issued shares of Allegiant. Peter Gianulis, CEO of Allegiant Gold, said:
“We are very excited to have Kinross as a strategic partner, given their experience and prominent presence in Nevada, and the relative close proximity of their flagship Round Mountain Mine, which shares many similar geological characteristics to Eastside. Allegiant and Kinross have developed an excellent rapport over the years, and we look forward to a productive and collaborative working relationship with them.”
Silver Bullet Mines Corp. (TSXV:SBMI) has announced that its board has decided to start mining at the Washington Mine. According to the press release, the company intends to “widen the existing adit, make the area safe for work, proceed to the historical workings and extract mineralized material.” A. John Carter, SBMI’s CEO, said:
“These are very exciting times for Silver Bullet Mines as we rapidly approach commencement of mining operations at the Buckeye Mine in Arizona and move simultaneously to mining in Idaho. Revenue generated from both mines can fund exploration programs to attack the past-producing McMorris Mine, increase production capacity at our 100%-owned modular mill, and explore the potential for a copper porphyry at our Black Diamond Property.”
Northstar Gold Corp. (CSE:NSG) has shared results from the Phase IIB drilling exploration program on its 100 percent-owned Miller Gold Property, near Kirkland Lake in Ontario, Canada. The company drilled a total of 2,495 metres in 14 holes, with highlights including 4.0 g/t Au over 50.6 metres and 2.3 g/t Au over 8.0 meters in hole MG21-70. The company’s President and CEO, Brian Fowler, said:
“2021 was a very busy and productive exploration year at Miller. Surface stripping identified 2 new gold discoveries adjacent and outboard of the Allied Syenite Gold Zone, extending the Zone 130m to the east and southeast. Recent drill results extended the Zone a further 180m north of 2021 drill hole MG21-56 that averaged 6.6 g/t gold over 117 metres and a further 30m south of drill hole MG20-47 that averaged 1.2 g/t Au over 107.3 metres.”
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