Month: November 2015

Yamana Gold Announces Proposed Private Placement of Shares of Brio Gold

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http://www.marketwired.com/press-release/yamana-gold-announces-proposed-private-placement-of-shares-of-brio-gold-tsx-yri-2076420.htm

TORONTO, ONTARIO–(Marketwired – Nov. 23, 2015) –

(All amounts are expressed in United States dollars unless otherwise indicated.)

YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) (“Yamana” or the “Company”) hereby announces that its wholly-owned subsidiary Brio Gold Inc. (“Brio Gold”) has commenced a private placement of Brio Gold common shares, consisting of a primary offering by Brio Gold and a secondary offering by Yamana. The implied initial post-money valuation of Brio Gold based on the private placement is approximately $369.3 million.

The primary offering as currently planned will fully fund the near-term business plan for Brio Gold with the majority of proceeds expected to be applied towards the re-commissioning plan for C1 Santa Luz. C1 Santa Luz is expected to contribute approximately 100,000 ounces of gold per year when in full production and represents the potential for further value creation for Yamana’s residual interest going forward.

The Mexico Mineral Exploration Group has seen its first week

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On Monday Nov 16th the Mexico Mineral Exploration Group was created on LinkedIn, in the past seven days 89 LinkedIn members have joined this group, we expect more to follow, and end the year with a few hundred signed in.
Non-withstanding the current dire situation of the mineral exploration industry, several companies announced new financing during the week, for a total of more than 35 million US dollars .

Half of these proceedings are going to fund the advancement  of the Bacanora lithium property in Sonora, but that still leaves a similar amount to fund the activities of 5 more companies in Mexico.

Funding, 3rd week November1

 

Significant resource increase at the Company’s Sonora Lithium Project, Mexico

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http://www.rareearthmineralsplc.com/index.php?cID=287&id=13261959

Rare Earth Minerals Plc (LSE AIM: REM)) is pleased to report an updated Mineral Resource estimate (“MRE”) for the Sonora Lithium Project in northern Mexico (the “Project”), which has seen its Indicated Mineral Resources increase by over 300% from 1.1 million tonnes (“Mt”) to 5 million tonnes of lithium carbonate equivalent (“LCE”). In addition, the Project’s Inferred Mineral Resource has been estimated as a total of 3.9 Mt of LCE, increasing the overall Indicated and inferred resources from 7.4 Mt LCE to 8.8 Mt LCE.

 

US Precious Metals, Inc. (USPR) Announces Independent Technical Report for La Sabilia Property

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http://www.baystreet.ca/articles/news-article.aspx

NEW YORK, NY / ACCESSWIRE / November 23, 2015 / US Precious Metals Inc. (OTCQB: USPR) announces it has received a technical report from Applied Minerals, Thompson Falls, Montana. The report (“Report”) is entitled “La Sabila Precious & Base Metals Deposit Project Report.” Mr. Michael J. Floersch is the Qualified Person (QP) responsible for the report.

This 40 page report describes the history of our Michoacan, Mexico property as well as geology and geologic history of its mineralization. It discusses in detail the resource estimate based upon the 2015 drilling campaign which primarily focused on the “Main Zone” and areas surrounding the “Main Zone.” It also incorporates the previous drilling campaigns of 2008 and 2010 (a total of 11,300 meters of core was drilled in these three campaigns) along with other historical data. The Report further summarizes ten mineralized zones recognized in the 2200 meter (1.367 mile) strike length.

Millrock Generates Five New Gold and Copper Projects in Sonora, Mexico

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http://www.baystreet.ca/articles/news-article.aspx

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 23, 2015) – Millrock Resources Inc. (TSX VENTURE:MRO) (“Millrock”) announces that it has acquired five claim blocks in the recent “Libertades” in Sonora, Mexico.

Millrock President & CEO Gregory Beischer commented: “Using the geological database we gained through the purchase of Paget Southern Resources in 2014, and through the knowledge, experience and effort of our Mexico exploration team, Millrock has been able to generate another excellent suite of mineral claims at very low cost. We plan to move these early-stage projects along through our development pipeline and secure funding partners when potential is clearly demonstrated”.

Millrock Announces Private Placement Financing

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http://www.canadianminingjournal.com/press-releases/story/?id=1003727758

Millrock Resources Inc. (TSX VENTURE:MRO) (“Millrock”) announces that it plans to raise gross proceeds of up to $700,000 through the sale of 4,375,000 units (the “Units”) priced at $0.16 per Unit. Each Unit consists of one common share and one share purchase warrant (the “Warrants”). Each Warrant will entitle the holder to purchase one additional common share at a price of $0.22 per common share until and including the date which is one year from the closing date, thereafter at a price of $0.30 per common share until and including the date which is two years from the closing date and thereafter at a price of $0.40 per common share until and including the date which is four years from the closing date. Millrock expects to pay finder’s fees in connection with this financing. The securities issued under this financing will be subject to a hold period of four months from the closing date. Millrock intends to use the proceeds for a series of specific property acquisitions and for general corporate purposes. This financing is subject to receipt of TSX Venture Exchange acceptance.

Bacanora Announces Indicated Mineral Resource Increased by Over 300% to 5.0 Million Tonnes of LCE at the Sonora Lithium Project

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/924-tsx-venture/bcn/13987-bacanora-announces-indicated-mineral-resource-increased-by-over-300-to-5-0-million-tonnes-of-lce-at-the-sonora-lithium-project.html

CALGARY, ALBERTA–(Marketwired – Nov. 23, 2015) – BACANORA MINERALS LTD. (“Bacanora” or the “Company”), the Canadian and London listed (TSX VENTURE:BCN) (AIM:BCN) lithium and borates company, is pleased to report an updated Mineral Resource estimate (“MRE”) for the Sonora Lithium Project(1) in Mexico (the “Project”), which has seen its Indicated Minerals Resources increase by over 300% to 5 million tonnes (“Mt”) of lithium carbonate equivalent (“LCE”)(2). In addition, the Project’s Inferred Mineral Resource has been estimated as a total of 3.9 Mt of LCE contained within the deposit.

Principales mineras de plata de México suben producción.- Minería en Línea

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http://mineriaenlinea.com/2015/11/principales-mineras-de-plata-de-mexico-suben-produccion/

Las 10 principales mineras de plata de México elevaron su producción el tercer trimestre, volumen que fue impulsado por el mayor aporte de la mina Peñasquito de Goldcorp.

Compañías mexicanas, canadienses y estadounidenses produjeron 37,2 millones de onzas (Moz) del metal, por sobre los 35,0Moz del 3T14, 37,1Moz del 2T15 y 35,9Moz del 1T15.

En 2014 las 10 principales mineras reportaron 147Moz, lo que representa cerca de tres cuartos de los 193Moz de México que reportó el Instituto de la Plata. México es el mayor productor mundial de este metal precioso.

Compañía Producción de plata 3T (Moz)
Peñoles 13,0
Goldcorp 7,47
Pan American 3,21
First Majestic 2,59
Southern Copper 2,28
Minera Frisco 2,22
Primero 1,9
Endeavour 1,82
Coeur 1,42
Fortuna 1,34

 

First Mining Signs Option Agreement With Major Mexican Mining Company, Penoles

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1525-tsx-venture/ff/13938-first-mining-signs-option-agreement-with-major-mexican-mining-company-penoles.html

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 20, 2015) – First Mining Finance Corp. (“First Mining“) (TSX VENTURE:FF)(OTCQB:FFMGF) is pleased to announce that it has signed an option agreement (the “Agreement”) with Exploraciones Mineras Peñoles, S.A. de C.V., an indirect Mexican subsidiary of Industrias Peñoles S.A.B. de C.V. (Peñoles, BMV: PE) under which Peñoles may acquire First Mining’s Puertecitos and Los Tamales copper properties (the “Properties”) located in northern Sonora, Mexico within the prolific Sonora-Arizona, Copper Belt. The region hosts large copper-molybdenum porphyry deposits, such as at the world-class Cananea and La Caridad copper mines. All dollar amounts included in this news release are expressed in U.S. dollars.