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The Best-kept Secret of Silver and Gold Exploration in Mexico is This Company

Jocelyn Aspa Jocelyn Aspa, The Market Herald
4 Comments| July 27, 2021

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With its headquarters in Toronto, Ontario, Terreno Resources Corp. (TNO) (TSX-V.TNO.H, Forum) is an exploration stage company focused on the acquisition, exploration and development of precious metals such a gold and silver.

Founded in 1995, the company is primarily focused on its Las Cucharas Gold and Silver project in Mexico.

The country of Mexico is known for being ideal for precious metals mining because of its deep mining history and geological environments and deposit types. Case in point, Mexico is the world’s leading producer of silver, having produced 5,531 tonnes of the white metal in 2020, while the country is ninth in gold production at 101.6 tonnes produced last year.

The Las Cucharas project

Mining at Las Cucharas dates back over a century, with small-scale production done between 1903 and 1961 with 3,000 kg of gold and 30,000 kg of silver.

The property is ideally located in the southern extreme of the mid-Tertiary Sierra Madre Occidental volcanic belt and, as such plays host to a wide range of Mexico’s most significant gold and silver deposits.

Las Cucharas also spans 4,447 hectares, which is covered by 17 concessions. To date, significant underground workings have been developed on several different zones, such as La Union, El Cardon, Los Gallos, Jocuiktle, La Italia and La Raizura.

Considered a volcanic-hosted low-sulfidation epithermal precious metal system, the Las Cucharas Project has significant mineralization along a 6 kilometre northwest-trending structural zone. Gold and silver are hosted in vein and shear structures, stockwork zones and breccias.

Previous drilling at the project was done by Maverix Metals (formerly known as MacMillan Minerals) between 2003 and 2012. Work included surface and underground geological mapping, rock and soil sampling, trenching, local geophysics and drilling in roughly 2,190 metres in 15 exploration diamond drill holes.

(Click to enlarge image)

Terreno Resources investment highlights

  • Las Cucharas Gold & Silver Project is located in the Sierra Madre Occidental (SMO) precious metal corridor
  • Focus on gold and silver exploration in Nayarit Mexico
  • Experienced management and exploration team
  • Reported historical production of 3,000 kilograms of gold and 30,000 kilograms of silver
  • Mineralized zone with over six kilometres in strike length with significant indicator gold & silver drill results
  • Surface grab samples ranging up to 18 g/t Au and 807 g/t Ag in the Nuevo Cucharas/La Taverna Zone
  • Underground channel samples ranging up to a weighted average of 3 g/t Au and 292 g/t Ag over 2 metre width and 71 metre strike length in the La Raizura underground working
  • Newly discovered and sampled vein and disseminated mineralization zones were found at El Zapotillo, El Carrizo, El Troze, Los Cuervos, Arroyo el Jocuixtle, La Planta, Arroyo del Tiro and Potrero de Don Teodulo zones
  • Gearing up for fall drilling program at Las Cucharas project

Here’s the Deal

In addition to being available via public exchange, Terreno Resource Shares shares are currently available through private placement sale. The Company is offering up to 20,000,000 units of the Company (“Units”) at a price of $0.05 per Unit (the “Offering Price”). Each Unit is comprised of one (1) common share of the Company (a “Common Share”) and one (1) Common Share purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder to purchase one (1) Common Share at a price of $0.06. Each warrant will be exercisable at $0.06 for a common share until the expiry date to be 12 months from the financing closing date.

Proceeds from the private placement will be used to meet the working capital requirements to apply to graduate to the TSX Venture Exchange in addition to conducting a diamond drilling program at the Las Cucharas Gold and Silver Project this fall.

Private Placement Highlights

  • C$0.05 per Unit
  • Up to 20,000,000 Units
  • Up to $1,000,000 in gross proceeds
  • Proceeds from this financing will be used to graduate to the TSX Venture Exchange and conduct a diamond drilling program at the Las Cucharas Gold and Silver project this fall
  • The Common Shares will be offered by private placement only (and without the use of an offering memorandum as defined in OSC Rule 14-501).
  • No prospectus will be filed with any securities regulatory authority to qualify the Common Shares for distribution to the public.
  • Investors wishing to subscribe for Units must complete and sign a Subsription Agreement and is subject to a minimum subscription amount of $1,000.

Terreno Resources’ DealRoom financing provides access to a company with a well-positioned project, in a mining-friendly jurisdiction, operated by an experienced management team.

The Stockhouse DealRoom: your destination to participate in exclusive financings, featuring some of the most innovative companies and best deals currently available on the market.

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FULL DISCLOSURE: Terreno Resources Corp. is a paid client ofStockhouse Publishing Ltd. (Stockhouse). Stockhouse is not registered as a broker, dealer, exempt market dealer, or any other registrant in any securities regulatory jurisdiction and will not be performing any registerable activity as defined by the applicable regulatory bodies. This deal room is for informational purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. Offers to sell, or the solicitations of offers to buy, any security can only be made through official offering documents that contain important information about risks, fees, and expenses. The information contained in this deal room is selective and does not purport to contain all the information relating to Terreno Resources Corp. In all cases, parties should conduct their own investigation and due diligence, not rely solely on the data provided herein and are encouraged to consult with a financial adviser, lawyer, accountant, and any other professional that can help to understand and assess the risks associated with any investment opportunity.

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.

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