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Makara Mining Corp. provided a corporate update on its properties in Yukon, Nevada, and Ontario. Geological logging at the Rude Creek property is complete, with assay results expected by late November 2020. In Nevada, fieldwork at the Davis Mine and Paradise Valley projects is ongoing, aiming for drilling readiness by March 2021. The Kenora Project is nearing the completion of surface work, with a NI 43-101 updated report anticipated in December 2020. The company is focused on gold property exploration and development.
Makara Mining Corp. has released a corporate introduction video showcasing President and CEO Grant Hendrickson during his visit to the Rude Creek property. The video highlights the project following a completed 2000-meter drill program. Rude Creek is strategically located near significant deposits, including the Casino and Coffee deposits, indicating its potential within the rapidly evolving Yukon region. Additionally, the company holds claims in Nevada, covering 900 hectares. It's important to note that the reported mineralization is conceptual, with further exploration needed to define a resource.
Makara Mining Corp. (CSE:MAKA)(FSE:MK0)(OTC PINK:MAKAF) has successfully completed its reverse circulation drill program at the Rude Creek property in Yukon, Canada. A total of 2,000 metres of drilling were conducted over 20 holes, targeting a significant NE soil anomaly. Results from the assays, currently prepared for analysis, are expected by mid-October. Rude Creek is strategically located near major deposits, including the Casino copper-gold deposit. The company emphasizes that mineralization described is conceptual and uncertain regarding further exploration outcomes.
Makara Mining Corp. has provided a progress update on its ongoing drill program at the Rude Creek Gold Project in the Yukon, Canada. The program focuses on a 1,000m by 1,600m soil anomaly. So far, 11 reverse-circulation (RC) holes have been completed, with a total of 20 holes planned. Notably, drilling has intersected areas with significant gold and silver grades, including 9.15m of 1.42 g/t gold and 19.5 g/t silver. Assay results are expected by mid-late October. The project is strategically located near substantial gold deposits, enhancing its potential value.
Makara Mining Corp. has acquired an option to earn a 60% interest in the Davis and Paradise Valley claim blocks in Nevada from Almadex Minerals. The Project covers 900 hectares and involves cash payments and exploration expenditures totaling US$3,525,000 over five years, along with issuing 3,500,000 common shares. The area shows potential for significant mineralization, with historical data indicating promising exploration targets. The deal reflects strategic growth in gold property exploration.
Makara Mining Corp. (CSE:MAKA)(FSE:MK0)(OTC:MAKAF) announced the successful exercise of 9,735,385 share purchase warrants, raising $2,661,812. This capital will fund an aggressive exploration program at the Rude Creek Project and fulfill obligations under its Kenora Property option, where testing is in progress. Additionally, the company has extended marketing agreements through further payments totaling EUR150,000 and USD$250,000. The funds will also be allocated for future acquisitions and marketing efforts.