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TNR Gold Corporation reports developments tied to its energy-metals royalty and gold portfolio. Company news centers on net smelter return royalty updates for the Mariana Lithium Project in Argentina, operated through Ganfeng Lithium interests, and the Los Azules Copper Project in San Juan, Argentina, developed by McEwen Copper.
Recurring updates also cover the company's exposure to critical materials supply chains, project-operator milestones, stock option grants, board and governance changes, and capital actions such as private placements. The company describes its portfolio as combining royalty interests with earlier-stage mining exposure and partnerships with project operators.
TNR Gold Corp (TSXV: TNR) provided an update on the Los Azules copper, gold and silver project in San Juan, Argentina, where it holds a 0.4% net smelter returns royalty. McEwen Copper, a subsidiary of McEwen Mining, reported significant infill drill results, including:
- 217 meters of 1.11% Cu, including 100 meters of 1.32% Cu
- 158 meters of 0.84% Cu, including 78.5 meters of 1.10% Cu
- 276 meters of 0.86% Cu, including 160 meters of 0.96% Cu
The drilling campaign successfully upgraded resource categories and confirmed the high-grade zone. The Los Azules Feasibility Study remains on track for delivery in early 2025. Additionally, Argentina's government introduced legislation to encourage large-scale investments in the mining sector, potentially improving the project's economics.
TNR Gold Corp. (TSXV: TRRXF) has announced a non-brokered private placement to raise up to CAN $300,000. The company plans to issue up to 5,000,000 units at $0.06 per unit. Each unit consists of one common share and half a non-transferable warrant. Whole warrants are exercisable at $0.08 per share for two years from the issue date. The funds will be used for exploration, maintenance of the Shotgun Gold project, and general working capital. Securities from this placement will have a four-month plus one-day trading restriction from the closing date.
TNR Gold Corp. (TSXV: TNR) announced that McEwen Mining Inc. has provided an update on the Los Azules copper, gold, and silver project in San Juan, Argentina. TNR holds a 0.4% net smelter returns royalty on the Los Azules project, managed by McEuen Copper Inc., a subsidiary of McEwen Mining.
On June 24, 2024, McEwen Mining announced a non-brokered private placement financing of up to 2,333,333 common shares of McEwen Copper at US$30.00 per share, aiming to raise up to US$70 million. McEwen Mining and Rob McEwen committed to purchasing 27% of the total offering, amounting to US$14 million and US$5 million, respectively. The funds will support a bankable feasibility study for the Los Azules project due by Q1 2025.
Prior to the financing, McEwen Mining and Rob McEwen held 47.7% and 12.9% ownership in McEwen Copper, respectively. Post-financing, their stakes are expected to adjust to 45.8% and 12.5%.
TNR Gold has announced that McEwen Mining has completed its feasibility drilling program at the Los Azules copper, gold, and silver project in Argentina. TNR Gold holds a 0.4% net smelter return (NSR) royalty on the project.
The program included 70,000 meters of drilling, with significant results such as 349m of 0.77% Cu and 382.5m of 0.54% Cu. The main objectives were to confirm the deposit size and grade, test for extensions, and explore new mineralized areas.
Initial interpretations indicate an increase in Measured and Indicated resources. The drilling also found mineralization beyond the current pit boundaries. A new porphyry system, 3 km east of the Los Azules deposit, shows promising early results.
The feasibility study will be completed by early 2025, with the focus on converting initial 5-year mineable resources to Measured and Indicated categories. Comprehensive exploration and geotechnical work are also ongoing.
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