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Last month, Silvercorp signed a non-binding term sheet to acquire Celsius Resources (ASX/AIM:CLA) - which holds the advanced-stage Maalinao-Caigutan-Biyog (MCB) copper-gold project in the Philippines - for AUD$56 million.
AbraSilver announces the latest assay results from the ongoing Phase III diamond drilling program on AbraSilver’s wholly-owned Diablillos property in Salta Province, Argentina.
James McDonald President and CEO states, "We certainly believe we have the potential for the discovery of in excess of 100 million ounces of silver."
In a sector where large gold and silver discoveries have been scarce over the past decade, New Pacific Metals is emerging as an exception to the trend.
With its rich history as a safe haven in troubled economic times, gold will be the life raft of choice for many. However, those looking to really cash in on current conditions would be wise to consider investing in silver and its increasingly important role in technology and the global energy transition.
A total of 17,623 meters in 39 holes was drilled up to the end of April 2023. Each of the 39 holes intersected mineralization. To date, assay results of the first 21 holes have been received with the remaining holes pending.
Silvercorp is currently debt free and has a cash and short-term investments balance of US$210.3 million, alongside its existing equity portfolio that has a market value of US$121.8 million as of December 31, 2022. This is a substantial amount of capital that can used to fund the further exploration and economic studies at MCB..
The New Pacific team points out that there is no other junior mining company with three projects of this calibre, all in the development phase.
“The addition of the MCB Project to our growing project portfolio aligns with our strategic objectives of diversifying and growing our asset base and will position us to benefit from copper’s strong fundamentals, a key ingredient in the green energy revolution. We believe this is a rare opportunity..."
“Silver Sand is a company-making asset that is rare, given its size, its scale, its pure silver content, and its high grades. And to have a second one at Carangas, we have the fundamental ingredients that any mining company needs to be successful, which is a deposit to finance, develop, and operate.”
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