Zonte Metals will use the funds for "working capital purposes" and to finance exploration at the Cross Hills Iron Oxide Copper Gold Property in Newfoundland and Labrador.
The results are "helping to verify the upper boundary of the mineral reserve envelope for the Veta Sur system,” said Ari Sussman, CEO of Continental Gold.
Frontera's oil-price hedges have now expired, and it believes that this will be a boon for future earnings as it tries to further move beyond its most trying financial times.
Multiple municipalities have cast ballots overwhelmingly in favor of vetoing the right of corporations to mine nearby recently in a referendum practice known as a "consulta popular."
The diesel Ecopetrol distributed across Colombia in September had an average of 17 parts per million, just north of the 15 ppm limit mandated in the United States.