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Silver Wolf Exploration Ltd. reports exploration and financing developments tied to the Ana Maria property in Mexico. Company updates center on diamond drilling, geological modeling and assay results from the El Soldado Claim, where the company has described carbonate replacement deposit-style silver, lead and zinc targets, as well as skarn targeting on the La Recompensa claim.
Recurring news also covers capital actions used to fund exploration, including unit financings with common shares and warrants, related-party participation, TSX Venture Exchange matters and working-capital disclosures. Silver Wolf has also discussed exploration targeting tools, including VRIFY prospectivity mapping, as part of its Ana Maria drill planning.
Silver Wolf Exploration has finalized its shares-for-debt settlement with two principal creditors: Oniva International Services Corp. and Avino Silver & Gold Mines, issuing 3,365,000 common shares in total. Oniva received 1,073,000 shares while Avino obtained 2,292,000 shares, both at $0.20 per share. The shares have a resale restriction for four months and a day from June 26, 2024. Following this transaction, Oniva and its joint actor, CEO David Wolfin, now hold 11,351,243 shares, making up approximately 24.70% of Silver Wolf's total shares. This move aims to optimize resource utilization at the Ana Maria project, enhancing the chances of discovering minerals. An Early Warning Report has been filed on SEDAR.
Silver Wolf Exploration has successfully closed a non-brokered private placement, raising C$1,000,000 through the sale of 6,666,666 units at C$0.15 per unit. Each unit includes one common share and one-half of a warrant, allowing the purchase of additional shares at C$0.25 within three years. Insiders participated with 464,999 units, marking this as a related-party transaction. The company paid finder's fees totaling C$33,580 to several financial firms. The funds will support drill programs and general capital needs, primarily for the Ana Maria property in Mexico. The transaction is pending TSX Venture Exchange's final approval.
Silver Wolf Exploration announced a non-brokered private placement offering of up to 6,666,667 units at CAD $0.15 per unit, targeting gross proceeds of up to CAD $1,000,000. Each unit comprises one common share and half a warrant, with each whole warrant allowing the purchase of one common share at CAD $0.25 for up to 36 months. The offering is subject to TSX Venture Exchange approval and the proceeds will fund exploration on the Ana Maria property in Mexico and general working capital. Additionally, Silver Wolf entered debt settlement agreements worth CAD $673,000 with two principal creditors, issuing 3,365,000 common shares at CAD $0.20 each. These shares will have resale restrictions for 4 months and one day.
Silver Wolf Exploration has engaged Salman Partners Inc. to provide strategic advice to enhance shareholder value and awareness. The company is excited to work with Terry and the Salman Partners team to leverage their expertise and network in the mining industry. This partnership aims to increase the Silver Wolf story's visibility and appeal to a wider audience.
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Silver Wolf Exploration Ltd. has released its 2022 highlights and objectives for 2023. The company advanced the Ana Maria project towards drilling readiness, completing over 1,010 geochemical samples, with notable grades including 37.0 g/t gold and 1,536 g/t silver. The firm is currently navigating the environmental permitting process for its claims, with drilling expected to commence on El Soldado in H1 2023. Silver Wolf successfully completed an over-subscribed private placement, maintaining a tight share structure with approximately 50% insider ownership. The partnership with Avino Silver and Gold Mines Ltd. offers competitive drilling costs, strengthening their exploration strategy.
Silver Wolf Exploration Ltd. (OTCQB:SWLFF) provided an update on the Ana Maria Property in Durango, Mexico, highlighting ongoing exploration efforts by a team of geologists. Two primary targets have emerged through mapping and analysis of remote sensing data. Significant gold, silver, lead, and zinc values have been identified in historical small mines and surface showings. The company is refining drill targets based on geophysical data and geological mapping, drawing parallels with the historic Ojuela CRD mine, located nearby. Continued work aims to enhance mineral discovery potential at Ana Maria.
Silver Wolf Exploration Ltd. (OTCQB:SWLFF)(TSXV:SWLF) has appointed Dr. Honza Catchpole to its Board of Directors. Dr. Catchpole, an exploration geologist with 15 years of experience across North and South America, holds a Ph.D. in Earth Sciences from the University of Geneva. He has worked with prominent companies like Teck Resources and Vale Exploration Canada, and his expertise includes mineral exploration and project evaluation. His addition is expected to enhance the company's efforts in refining drill targets for the Ana Maria project.