(NewsDirect)
Mitre Mining Corporation Ltd (ASX: MMC) executive director RayShorrocks joined Jonathan Jackson in the Proactive studio this morningto talk us through the company’s recent Chilean acquisition.Following shareholder approval, the company is now poised to establishmajor silver-gold resource at its new Cerro Bayo project. Mitre takeshold of the existing JORC inferred resources of 3.82 million tonnes at206g/t for 24.7 million ounces silver equivalent, and importantlyCerro Bayo has substantial scope for rapid growth, with extensiveknown high-grade mineralisation outside the resource. The project alsoincludes infrastructure valued over A$150 million to support a futurerestart of operations, including a 500,000 tonnes per annumoperational mill, extensive underground mines, power network, officesand workshops. With $8.3 million in the bank after a capital raise anddrilling to begin shortly, it's all systems go forMitre.
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
Copyright (c) 2024 TheNewswire - All rights reserved.