Denarius Silver Corp. will commence trading on the TSX Venture Exchange on Monday March 8, 2021, under the symbol DSLV.
The company’s mining portfolio has exposure ranging from exploration to near-term production of multi-metal assets offering leverage across multiple markets.
The Lomero-Poyatos Project, to be acquired by the company, is a polymetallic deposit located on the Spanish side of the prolific copper-rich Iberian pyrite belt with a historical inferred resource of 22.17 million tonnes of 3.08 g/t gold, 62.38 g/t silver, 0.90% copper, 0.85% lead and 3.05% zinc that remains open at depth and along strike. These are historic resources.
In connection with the acquisition of the Lomero Project, the company is completing a non-brokered private placement financing to raise up to $33.75-million through the issuance of up to 75 million subscription receipts of the company at a price of 45 cents per subscription receipt. The concurrent financing has been fully subscribed and is expected to be completed shortly. Part of the commission will be paid in units.
Other projects include the Guia Antigua Project, a past silver producer adjacent to Gran Colombia Gold’s flagship Segovia mine that previously produced over 78,000 ounces of silver averaging 404 g/t silver and the Zancudo Project, a past gold-silver mine that previously produced over 1.5 million oz of gold averaging 14.6 g/t gold and 108 g/t silver, acquired from Gran Colombia Gold and currently under option to IAMGOLD Corp. [IMG-TSX; IAG-NYSE].
The projects are within close proximity to producing operations with robust infrastructure in place to help quickly advance projects. Exploration programs conducted by prior ownership on all three projects have returned high-grade mineralization consistent with the rich history of the properties as well as the prolific neighbouring deposits.
The company has a strong cash position and management with a record of shareholder wealth creation via exploration, development and mining. There is a strong shareholder base 36%-owned by Gran Colombia Gold Corp. [GCM-TSX; TPRFF-OTCQX].
In conjunction with its exploration campaign, IAMGOLD has implemented a number of ESG initiatives in the local community at Zancudo, including a beekeeping project focused on providing training to local beekeepers, improving efficiency in honey production and marketing support.