Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining/energy investing news. Where we come together and wish we had invested in currencies instead.

Here are the highlights:

🎩  Teck Backtracks

🔥 Aztec Hits Bonanza Grade

🤟🏼 Millennial and Integra Merge

 😸 Outcrop Silver Resource Estimate  

 🧊 Teck Backtracks Spin Off

Teck Resources has withdrawn its proposal to split the company into two units, base metals and coal, ahead of a shareholder vote scheduled for Wednesday.  

The Vancouver-based mining firm will instead pursue a "simpler and more direct separation" in order to "unlock value for investors".

Glencore, which recently sweetened its $23bn unsolicited bid for Teck, said it would continue to pursue its takeover bid despite Teck's announcement.

💪🏼 Aztec Hits Bonanza Grade

Aztec Minerals has reported high-grade silver intersections in the first hole of its 2023 core drilling program at the Tombstone project in Arizona.

The silver grade is the highest encountered by Aztec at Tombstone to date. 

Highlight:

3,477 g/t Ag (111.96 oz/t) over 1.52 m, within a zone of 733.9 g/t Ag (23.63 oz/t) over 7.6 m

The drilling program is ongoing, with additional results for another 9 holes pending.  Aztec holds a 75% interest in the Tombstone Property Joint Venture.

 🤟🏼 Millennial And Integra Merge

Millennial Precious Metals has announced that its shareholders have approved a proposed arrangement with Integra Resources Corp. 

Under the terms of the deal, Integra will acquire all of the issued and outstanding common shares of Millennial through a statutory plan of arrangement under the provisions of the Business Corporations Act (BC). 

Shareholders will be entitled to receive 0.23 of a common share of Integra in exchange for each common share of Millennial held immediately prior to the effective time of the arrangement. 

The closing of the arrangement is expected to occur on or about May 4, 2023, subject to final approval from the Supreme Court of British Columbia.

👀 Outcrop Silver - Resource Estimate    

Outcrop Silver & Gold Corporation has announced the completion of an independent mineral resource estimation of the Santa Ana high-grade silver project in Colombia.

Highlights:

Indicated Resources estimated at 1,226,000 tonnes grading 614 g/t silver eq, containing 24.1 million ounces of silver eq.

Inferred Resources estimated at 966,000 tonnes grading 435 grams per tonne silver eq, containing 13.5 million ounces of equivalent silver. The resource was calculated using a 158 grams per tonne equivalent silver cut-off grade and minimum vein width of 1.0 metre. Outcrop Silver advanced Santa Ana quickly to the resource stage to exhibit the project's excellent metallurgy, and the resource growth potential is highly promising, as only 17% of mapped veins have been drilled to date.

Happy Speculating!

The Editor

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.