Board Change • May 26
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Director Monica Ospina was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Director Monica Ospina was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 공지 • Feb 18
Monarca Minerals Reports Expansion of San Jose Exploration Area Based on Stream Sediment Pan Concentrate Sampling Program Results Monarca Minerals Inc. announced positive results from a stream sediment pan concentrate sampling program within its mining concessions at the San José Project in Mexico. Numerous drainages show anomalous values of Au, As, Cu, Pb and Zn. Drainages with anomalous values extend approximately 8 km from near the northern limit of the concessions to the southern limit of the concessions. Of the twenty drainages sampled, all but two resulted in anomalous metal values. The metals are the same type as those encountered elsewhere on the Project including from previous surface sampling and mapping over known geophysical anomalies and old mine workings, and encountered during the RC drilling program completed in 2021. Drainages were sampled in the vicinity of known geophysical anomalies to better understand values that could be considered anomalous in other portions of the concessions, resulting in anomalous gold being considered at 0.005 ppm, arsenic (As) at 15 ppm, copper (Cu) at 16 ppm, lead (Pb) at 18 ppm and zinc (Zn) at 90 ppm. Other assayed elements did not show significant variability. Because some of the drainage areas are large (up to about 6 km2), additional stream sediment pan concentrate sampling may be done in smaller feeder drainages to fine-tune the size of the areas for follow-up mapping and sampling. The remaining smaller anomalous drainage areas will be sampled and mapped to potentially develop areas for additional geophysical surveys and possibly future drilling sites in previously unexplored areas of the concessions. Twenty ±10 kg samples of sand/gravel were collected in drainages at depths of between 30 cm and 60 cm. Where bedrock was encountered before 60 cm of depth, the starting depth of sample was reduced. bedrock. The samples were collected as vertical channels in the wall of the excavation. As the sample was being bagged, rocks larger than about 3 cm were discarded by hand. The sample was then panned to ±100 g, resulting in a 100:1 dense mineral concentration of the original sample. The samples were then fire assayed for Au and other elements were assayed using multi-element ICP analytical methods at ALS Chemex, an independent and ISO-certified laboratory. The location of each sample was measured with a handheld GPS instrument, using the UTM DATUM WGS84. The extent of the drainage area was determined by examination of the topography, which was obtained from Mexican government mapping. 공지 • Sep 15
Monarca Minerals Reports Completion of Additional Three Drill Holes at San Jose Project - SJ10, SJ11 and SJ15 Monarca Minerals Inc. announced that it has completed an additional three drill holes at its San Jose project. With the completion of an additional three drill holes, a total of 1,429.5m have been drilled. The average drilling rate is about 85m/day, drilling one shift/day. A booster compressor is locally being used to manage water flows. Drill holes SJ10, SJ11 and SJ15 have been successfully completed - all of the drill hole intersected exoskarn and/or endoskarn mineralization with sulfide minerals. The sulfide minerals observed were dominantly pyrite, with very fine grained dark sulfide minerals, which appear to be sphalerite and galena in some cases. Chalcopyrite was locally observed. The samples have been delivered to the laboratory sample preparation facility in Chihuahua, Mexico. SJ10: Drill hole SJ10, angled easterly at -60º, was drilled to 352.0m. It was drilled targeting a strong IP geophysical anomaly and intersected endoskarn with silicification. Up to 5% pyrite, along with 0-1% localized dark sulfides and chalcopyrite were observed (Figure 2: Drilling IP Geophysical Targets). SJ11: Drill hole SJ11 was drilled vertically to a total depth of 259.1m targeting a strong IP anomaly in an area of endoskarn and marble outcrop, close to the Calderon mine. It intersected 65.5m of exoskarn above endoskarn with silicification in biotite porphyry which was not observed in outcrop. The biotite porphyry has several percent magnetite, which likely explains the large magnetic geophysical anomaly in the southwest portion of the survey area. Pyrite and other sulfide minerals were observed in field logging. SJ15: Drill hole SJ15 targeted a strong IP geophysical anomaly and was drilled vertically, with a total depth of 349.0m. It intersected 48.8m of exoskarn, above 298.7m of endoskarn. Up to 3% pyrite with other sulfide minerals were observed. The granodiorite hosted endoskarn has up to 5% pyrite, with other sulfide minerals. 공지 • Sep 04
Monarca Minerals Inc. Reports Completion of First Two Drill Holes At San Jose Project Monarca Minerals Inc. announced that it has completed the first two drill holes at its San Jose project. Drill holes SJ01 and SJ03 have been completed - each drill hole successfully intersected skarn mineralization with sulfide minerals, based on field quick logs. Both exoskarn and endoskarn mineralization were observed. The sulfide minerals observed were dominantly pyrite, with very fine grained dark sulfide minerals, which appear to be sphalerite and galena in some cases. Chalcopyrite was locally observed. Assay results are not yet available. The first batch of samples for assay will be shipped in a few days to the sample preparation laboratory in Chihuahua, Mexico.
SJ01: Drill hole SJ01, angled easterly at -60º, was drilled to 140.2m and was completed in one day. It targeted the mineralized contact between limestone and adjacent granodiorite, at the Guadalupana mine. SJ01 intersected 9.1m of exoskarn with about 1% pyrite and <1% of fine grained dark sulfide minerals. It also cut 42.7m of endoskarn. The remainder of the hole was silicified granodiorite with about 1% pyrite. SJ03: Drill hole SJ03 was drilled vertically to 329.2m and was completed in four days, having intersected three exoskarn horizons. A booster compressor was utilized to manage water flows, which at a constant rate were about 5 gallons per minute. It targeted an IP geophysical anomaly in an area where the nearest outcrop was about 100m distant, at the El Leon prospect. Three thick zones of exoskarn were intersected, each with sulfide mineralization consisting of pyrite and fine grained dark sulfide minerals. From 207.3m to 208.8m exoskarn mineralization was observed, with about 20% pyrite and fine grained dark sulfide minerals. The total intersected length of exoskarn mineralization was 83.8m, along with 76.2m of endoskarn. There appears to be potassic alteration (shreddy biotite) in the granodiorite in the bottom 32.0m of drill hole SJ03. 공지 • Mar 05
Monarca Minerals Provides an Update on Its Upcoming Drilling Program for the San Jose Silver Project in Mexico Monarca Minerals Inc. announced that it continues to advance the permitting process for its upcoming drilling program on the San Jose Silver Project ("San Jose") located near the
USA border in Chihuahua, Mexico. Surface lands for the San Jose project area are partially covered by "Ejido" lands and "Colonia" lands (community or communal lands), therefore the Company is required to sign a surface rights agreement with both the Ejido and Colonia authorities to advance its environmental permit to proceed with its planned drilling program. On February 21, 2021, Colonia elected its new authorities and plans to sign an agreement with Monarca Mining (Mexican subsidiary of Monarca Minerals) to change the use of land and temporary occupation allowing the Company to complete its drilling program at San Jose. An environmental assessment report for the planned drilling area, which is a requirement to obtain a drilling permit, has been completed and will be submitted to the Mexican authorities as soon as a surface rights agreement with Colonia has been signed and ratified by a Mexican Public Notary. The Company expects this agreement to be signed by next week. The Company has also received three drilling contractor proposals for the San Jose drilling program an will be making a final decision on a drilling contract soon. The initial drilling program at San Jose includes ten targets and approximately 5,000 metres of drilling. Eight targets are located on Colonia lands and two targets on Ejido lands. Prospecting and field mapping has already been completed. Two drill holes (SJ1 and SJ2) are planned in the area of the Guadalupana mine at the southern end of the geophysical survey area. These drilling targets are located over strong IP anomalies, adjacent to the southeast margin of a large magnetic anomaly, which is interpreted as a buried mineralized intrusive body. Drill hole SJ1 is designed to intercept the Guadalupana vein, which historically has returned high precious and base metal grades and is interpreted from the IP survey as "leakage" from a larger area of buried mineralization. 공지 • Dec 16
Monarca Minerals Inc. Reports Progress in Moving Toward Drilling At San Jose Project Monarca Minerals Inc. announced that it is advancing toward an initial approximately 5,000m drilling program at San Jose. Due to Covid, Mexican Agrarian governmental offices have been closed, delaying the permitting process. The federal offices related to surface land ownership have, in the last week, re-opened and resumed operations. There are now plans to consummate a meeting with all parties to finalize a contract between Monarca and the Colonia and Ejido, who own the surface in the planned drilling area. The contract would allow temporary occupation and surface use in the area of planned drilling, which is a critical step in obtaining a drilling permit. Monarca has retained the services of a Mexican consulting company to conduct a required environment assessment of the drilling area and produce a report. This report is a critical step in obtaining a drilling permit. A Canadian consulting company with local team in Mexico has been retained and has sent personnel to San Jose and the nearby pueblo of Guadalupe de Victoria, to begin a Corporate Social Responsibility campaign to solidify the existing positive relationship. Drilling contractors are being contacted to solicit a request for quotation on the initial drilling program. Is New 90 Day High Low • Oct 14
New 90-day high: CA$0.21 The company is up 330% from its price of CA$0.05 on 14 July 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 5.0% over the same period. 공지 • Sep 16
Monarca Minerals Inc. announced that it has received CAD 3 million in funding from Palisades Goldcorp Ltd. and other investors On August 20, 2020, Monarca Minerals Inc. (TSXV:MMN) closed the transaction. The transaction included participation from new investor lead order Palisades Goldcorp Ltd. and other new institutional investors. The company paid finders' fees of CAD 212,000 in cash and 4,240,000 finder’s warrants to Red Cloud Securities Inc. Each finders warrant entitles the holder to acquire one common share at an exercise price of CAD 0.05 until August 20, 2022. All securities issued are subject to a statutory hold period of four months and one day in accordance with applicable securities laws expiring on December 20, 2020. The transaction was oversubscribed.
TSX Venture Exchange has accepted filing documentation with respect to the non-brokered private placement. The transaction included participation from 59 placees including, Carlos EspinosaI for 1,000,000 shares. 공지 • Aug 11
Southern Silver Exploration Corp. (TSXV:SSV) completed the acquisition of El Sol Mineral Claims from Monarca Minerals Inc. (TSXV:MMN). Southern Silver Exploration Corp. (TSXV:SSV) entered into an agreement to acquire El Sol Mineral Claims from Monarca Minerals Inc. (TSXV:MMN) for $0.3 million on April 3, 2020. Under the terms, the acquisition is payable in three equal installments on execution of a definitive agreement, twelve months and eighteen months together with retention by Monarca Minerals Inc. of a 2% NSR on production from the claim with a right in Southern Silver to purchase the royalty at any time for $1 million.
Southern Silver Exploration Corp. (TSXV:SSV) completed the acquisition of El Sol Mineral Claims from Monarca Minerals Inc. (TSXV:MMN) on August 10, 2020. Monarca will use net proceeds from the sale to advance the Company's San Jose project in Chihuahua, Mexico and for general working capital. 공지 • Jul 24
Monarca Minerals Inc. announced that it expects to receive CAD 2 million in funding Monarca Minerals Inc. (TSXV:MMN) announced a non-brokered private placement of up to 40,000,000 units at CAD 0.05 per unit for gross proceeds of up to CAD 2,000,000 on July 23, 2020. Each Unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at an exercise price of CAD 0.075 per share for a period of 24 months from the date of closing. The securities issued are subject to a hold period of four months and one day from the closing. The transaction is subject to the receipt of necessary approvals, including the approval of the TSX Venture Exchange. The transaction is scheduled to close on or about August 20, 2020. Red Cloud Securities Inc. will be acting as finder for the company. 공지 • Jun 20
Monarca Minerals Inc. announced that it has received CAD 1.015445 million in funding Monarca Minerals Inc. (TSXV:MMN) announced a non-brokered private placement of unsecured convertible debentures for gross proceeds of CAD 1,015,445 on June 19, 2020. The debenture a coupon of 12% per annum payable annually in arrears on October 9th and would mature on October 9, 2022. The convertible debentures are convertible into common shares of the company at a price of CAD 0.075 for the first 12 months of the term and at a price of CAD 0.10 thereafter until maturity. The company may choose to pay the interest in common shares of the company in accordance with the policies of the TSX Venture Exchange.