Business
Candente Gold Issues Stock Options to New Director
(via TheNewswire) Vancouver, British Columbia - TheNewswire - July 31, 2019 -- Cande...
About this update from Xali Gold Corp.
[{"type":"text","content":"Candente Gold Issues Stock Options to New Director(via TheNewswire)\n\n \nVancouver, British Columbia - TheNewswire - July 31, 2019 -- Candente Gold Corp. (TSXV:CDG) (OTC:CGDXF) (\"Candente Gold\" and/or the \"Company\") is pleased to announce that the Company has granted stock options (the \"Options\") to Mr. Matthew Melnyk, Director of the Company, to purchase up to 250,000 common shares of the Company at an exercise price of $0.05 per common share which will vest 25% every six months and will have a five-year term, expiring on July 29th, 2024.\n\n\n \nThe grant of Options is subject to approval by the TSX Venture Exchange.\n\n\n \nAbout Candente Gold\n\n\n \nCandente Gold's flagship asset is El Oro, a district scale gold project encompassing a well-known and prolific, high grade gold dominant, silver epithermal vein system in Mexico. The project covers 20 veins with past production and more than 57 veins in total. Approximately 6.4 million ounces of gold and 74 million ounces of silver were reported to have been produced from just two of these veins (Ref. Mexico Geological Service Bulletin No. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores)\n\n \n \nModern understanding of epithermal vein systems indicates that several of the El Oro district's veins hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein, which was mined to an average depth of only 200 metres. \n\n \n \nIn addition to the hard rock potential, Candente Gold is investigating the potential to recover gold and silver from the Mexico Mine Tailings by granting Sun River Gold Corp. (\"SRG\"), the right and option to further test and, if proven economic, develop and operate the Company's tailings project in El Oro Mexico (the \"Tailings Project\"). Under the option, Sun River is to make staged payments, totalling US$500,000 over 28 months, bring the mine tailings into commercial production within 36 months, and grant to the Company a 5% of net profits (\"NPI\") Life of Mine royalty on production from the tailings. Candente Gold has the right to re-process the tailings under an agreement with the Municipality of El Oro. \n\n \n \nCandente Gold is dedicated to being a responsible Community partner.\n\n\n \nJoanne C. Freeze, P.Geo., Director and CEO is the Qualified Person as defined by Nati...