Welcome to our dedicated page for Rugby Resources news (Ticker: RBMNF), a resource for investors and traders seeking the latest updates and insights on Rugby Resources stock.
Rugby Res Ltd, listed on the TSX Venture Exchange under the symbol RUG, is focused on discovering world-class mineral resource deposits. The company's primary objective is the discovery and development of gold, silver, and base metal projects in secure investment jurisdictions. With a team of experienced directors and geologists, Rugby is dedicated to building a reputable exploration and mining company.
The company's current projects and targets are carefully chosen based on their potential to host significant mineral systems. Over the years, Rugby's team has been credited with discovering multiple world-class deposits individually, showcasing their expertise and commitment to success in the mining industry.
Pampa Metals (CSE:PM) has executed a binding agreement to acquire 100% of Rugby Resources (TSXV:RUG) through an all-share transaction. The deal aims to create a leading South American copper explorer with two significant discoveries: the Piuquenes copper-gold project in Argentina and the Cobrasco copper-moly project in Colombia.
Under the agreement terms, Pampa will issue 1 share for every 6.4 Rugby shares, with Rugby shareholders holding approximately 38% of the combined entity. The transaction values Pampa shares at $0.16 each. Rugby's assets will be partially spun out into a new company (Rugby Spinco) prior to closing.
Recent drilling at Piuquenes has yielded significant results, including intercepts of up to 801m @ 0.40% Cu and 0.51 g/t Au. At Cobrasco, previous drilling showed promising results with intercepts including 808m @ 0.42% Cu and 79 ppm Mo. The company plans to pursue dual listing on the ASX and TSXV post-transaction.
Rugby Resources announces the receipt of environmental approval for drilling on the El Zanjon Project in Argentina, south of the Cerro Vanguardia gold-silver mine. The project shows great potential for discovering a large vein field with significant gold-silver targets. A 4,750m drilling program will focus on 15 targets, with a focus on areas AOI2 and AOI3. The Venidero Gold-Silver Project also presents promising opportunities in Argentina.
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