Eskay Mining Stock Price, News & Analysis

Eskay Mining Corp. has successfully completed the acquisition of 23,703,688 common shares of Garibaldi Resources Corp. for 4,211,719 working capital units at $2.56 each. This acquisition represents 19.5% of Garibaldi's total issued and outstanding shares, enhancing Eskay's investment portfolio. Eskay had no prior holdings in Garibaldi and aims to hold these shares for investment purposes without immediate plans to alter its stake. The acquisition is expected to contribute positively to Eskay’s strategic positioning in the mining sector.

Eskay Mining Corp. (OTCQB:ESKYF) announced promising results from its 2020 stream sediment sampling program, revealing new precious metal-rich VMS targets across its 526 sq km land holdings in British Columbia. Analysis highlighted significant BLEG gold anomalies, particularly on the 100% owned Corey property, indicating potential for district-scale discoveries. Notably, multiple catchments displayed high priority anomalies correlating with Eskay Creek style mineralization, prompting plans for further exploration and drilling in 2021.

Eskay Mining Corp. has announced the granting of 3,700,000 options to purchase common shares at $3.00 each for five years, pending TSX Venture Exchange approval. This move is aimed at incentivizing officers, directors, and consultants. Eskay, based in Toronto, focuses on exploring precious and base metals in the Golden Triangle of British Columbia, holding 177 mineral claims over 130,000 acres. The company highlights its ongoing commitment to exploration and development in this prolific region, though it notes inherent risks in its forward-looking statements.

Eskay Mining Corp. has announced an agreement with The Sprott Foundation to acquire 23,703,688 common shares of Garibaldi Resources Corp. (GGI) for $10,782,000. The transaction involves issuing 4,211,719 working capital units at a price of $2.56 per unit, each comprising one common share and a warrant priced at $2.82. The acquisition represents 19.5% of GGI's outstanding shares and will be made for investment purposes, pending TSX Venture Exchange approval.

Eskay Mining Corp. announced the successful completion of a diamond drill campaign totaling 4,335.55 meters across 20 holes at its TV-Jeff VMS target on joint venture ground with Kirkland Lake Gold. The drilling revealed significant VMS mineralization, including silver-bearing minerals like pyrargyrite and electrum, indicating potential for valuable precious metals. Recent geophysical surveys suggest a larger VMS system than previously thought. The results are promising for further exploration, as the company plans to expand its drilling efforts in the next season.

Eskay Mining Corp. announced the discovery of precious metal-bearing VMS mineralization in its first drill at the TV target, showing significant results. Hole TV20-35 revealed 210.0 gpt Ag and 1.23 gpt Au (4.11 gpt Au eq) over 11.24 m. High-grade intervals included a notable 0.99 m grading 507.0 gpt Ag and 1.32 gpt Au (8.36 gpt Au eq). Additional drilling indicates a robust VMS system in the area, with two rigs deployed. Pathfinders like arsenic and mercury highlight the potential similarity to the Eskay Creek deposit. The company is optimistic about drilling further in 2021.

Eskay Mining Corp. has accelerated the expiry date of 1,142,000 2018 Warrants due to the company's shares closing above $0.60 for ten consecutive trading days, effective August 21, 2020. These warrants, initially set to expire later, must be exercised by September 23, 2020, at an exercise price of $0.40 per share. Eskay Mining, focused on the exploration and development of precious and base metals in British Columbia's Golden Triangle, continues to enhance its operational strategies.

Eskay Mining Corp. has successfully closed a non-brokered private placement, raising $3,409,250 through the sale of 3,500,000 flow-through units and 2,559,444 working capital units. The proceeds will support the company's 2020 exploration program and general working capital. Recent surveys have identified promising anomalies near the TV and Jeff VMS prospects, and drilling plans are set for a minimum of 3,000 meters starting August 19, 2020. The exploration aims to confirm previous drill results and assess new conductivity anomalies.

Eskay Mining Corp. announced the results of its Annual General and Special Meeting held on August 11, 2020, where shareholders approved all proposed matters. This includes the election of Quinton Hennigh and Thomas Weis to the Board of Directors and the re-appointment of McGovern Hurley LLP as auditors. Additionally, shareholders approved the settlement of $362,122 debt via the issuance of shares at $0.17 each. The newly elected directors bring extensive experience in geology and minerals exploration, which is expected to benefit the company’s ongoing projects in British Columbia's Golden Triangle.