Corner bay tops up till

Junior Corner Bay Silver (BAY-T) has raised $4.5 million in several private placements comprising 1.8 million shares in all. Proceeds are earmarked for the advanced Alamo Dorado silver-gold project in Mexico, where an ongoing independent feasibility study is scheduled for completion in April.

AMEC Simons Mining & Metals is focusing on a near-surface deposit of 79.6 million tonnes grading 45.9 grams silver and 0.18 gram gold per tonne. The resource estimate is based on a cutoff grade of 10 grams silver-equivalent, and the material is considered amenable to heap-leaching.

In anticipation of a positive review, Corner Bay has spent the past several months securing all necessary surface rights. The rights cover all the proposed facility locations, as well as areas where new mineralization may be found.

Exploration drilling will begin in mid-March.