Tinka Resources Limited has closed an oversubscribed C$14.2 million non-brokered private placement, issuing over 51 million units. The proceeds are earmarked for drilling at the Silvia gold-copper project and resource expansion at the Ayawilca zinc-silver-tin project. Additionally, Brandon Macdonald has been appointed as Executive Chairman.
Tinka Resources has increased its private placement size from C$11 million to C$14 million following strong investor demand. The proceeds are intended to fund drilling at the Silvia gold-copper project and resource expansion at the Ayawilca zinc-silver-tin project.
Tinka Resources has initiated a strategic review to evaluate potential alternatives for maximizing shareholder value, resulting in the deferral of planned drilling at the Ayawilca project. Additionally, the company will not proceed with the remaining closings of its previously announced non-brokered private placement.
Tinka Resources has released an updated mineral resource estimate for the Ayawilca project in Peru. The update shows meaningful resource growth and the conversion of inferred resources into the indicated category.
Alturas Minerals Corp has signed a definitive option agreement with Milpo to option an 80% interest in the Huajoto zinc-gold-copper-REE project in Peru. Milpo will fund exploration and is required to prepare a NI 43-101 compliant Preliminary Economic Assessment within a 3-year option period.
Alturas Minerals Corp has entered into a non-binding Letter of Intent to option its 100%-owned Huajoto project in Central Peru to Milpo S.A.A. The agreement includes a conditional 3-year option to acquire an 80% interest for US$2 million and a 5-year assignment for exploration activities.
