Month: December 2015

MAG Silver Reports New Gold and Additional Zinc Mineralization at Salamandra

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Click to access article_12152015091940.pdf

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 15, 2015) – MAG Silver Corp. (TSX:MAG)(NYSE MKT:MVG) (“MAG” or the “Company”) announces assay results from its six hole, 4,271 metre Phase 3 drill program on the Salamandra Property in Durango, Mexico optioned from Canasil Resources Inc. (TSX VENTURE:CLZ) (“Canasil”). Phase 3 drilling concluded in late September and final gold check assays were received in December. Combined with MAG’s Phase 1 and 2 drilling (see press releases dated March 17, 2014 and July 21, 2014, respectively), MAG has now drilled 14,384 metres in 23 holes on the Salamandra property, complementing 12 holes previously drilled by Canasil.

 

Highlights of the second week of December 2015

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It seems the lethargy of year’s end is finally settling in the Mexican exploration industry, with only a few announcements made by companies during the second week of December.
On financing, Frisco announced it is receiving a 1,100 million dollar loan to pay in advance a previous line of credit.
Property wise, Orex Minerals has initiated diamond drilling on its Sandra Escobar (near Cienega de Escobar) in Durango. Almaden Minerals announces a new PEA for its Ixtaca project in Puebla, including in it the use of the mill that previously operated at Rock Creek. Alix Resources starts field work on its Elektra lithium property, which adjoins Bacanora Minerals Ltd. and Rare Earths Minerals PLC (REM)’s Sonora Lithium Project located in Sonora.

Primero Regrets to Report a Fatality at Its San Dimas Mine

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1165-tsx/p/14664-primero-regrets-to-report-a-fatality-at-its-san-dimas-mine.html

TORONTO, ON–(Marketwired – December 13, 2015) – Primero Mining Corp. (“Primero” or the “Company”) (TSX: P) (NYSE: PPP) regrets to report the fatality of an employee that occurred at its San Dimas mine in Mexico on the weekend.

“We feel great remorse over the loss of our colleague Enrique Ortiz, an experienced underground miner at our San Dimas mine,” said Ernest Mast, President and Chief Operating Officer. “Work-related losses are felt deeply by the Primero and Tayoltita communities and we send our deepest sympathies to Enrique’s family and friends. The safe operation of our mines remains Primero’s top priority, and we will continue to work hard to eliminate all work-place accidents.”

Starcore Consolidates its Share Capital

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/426-tsx/sam/14686-starcore-consolidates-its-share-capital.HTML

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 14, 2015) – Further to its news release of November 24, 2015, Starcore International Mines Ltd. (TSX:SAM) (the “Company” or “Starcore”) announces that it has received confirmation from the Toronto Stock Exchange that effective at the opening of trading on Monday, December 14, 2015 (the “Effective Date”), the shares of the Company will commence trading on a one-for-four consolidated basis. Having received Toronto Stock Exchange acceptance for the share consolidation, on the Effective Date, the Company will have approximately 45,153,648 common shares issued and outstanding, subject to adjustment for fractional shares.

The name of the Company has not been changed, and the trading symbol remains as “SAM”. A new CUSIP number has been issued, being 85525T202. The Company has sent out its Notice to shareholders requesting them to forward their certificates representing pre-consolidated common shares of the Company to Computershare Investor Services Inc. at its principal offices in Toronto in exchange for share certificates representing the appropriate number of consolidated common shares of the Company.

The Board of Directors believes that the share consolidation will provide the Company with greater flexibility in developing its plans for its recently acquired projects and for the expansion of its exploration program at the San Martin Mine in Queretaro, Mexico.

 

Colibri Announces Closing of Non-Brokered Private Placement

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1388-tsx-venture/cbi/14675-colibri-announces-closing-of-non-brokered-private-placement.html

VANCOUVER, Dec. 14, 2015 /CNW/ – Colibri Resource Corporation (“Colibri” or the “Company”) (TSX.V-CBI) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Private Placement“) of 1,666,666 common shares of the Company (the “Shares“) at a price of $0.03 per Share for gross proceeds of $50,000.

The proceeds from the Private Placement will be used for general working capital, payment of service provider and regulator fees as well as costs relating to shareholder meetings and to maintain Colibri’s operations in Sonora, Mexico. No part of the proceeds will be used to pay management fees or to pay related parties of the Company.

The Shares are subject to a four month hold period expiring April 15, 2016.  The Private Placement remains subject to final acceptance from the TSX Venture Exchange.

 

Pan American Silver Announces CEO Geoff Burns’ Retirement and Names Michael Steinmann as Successor

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/888-tsx/paa/14678-pan-american-silver-announces-ceo-geoff-burns-retirement-and-names-michael-steinmann-as-successor.html

VANCOUVER, Dec. 14, 2015 /CNW/ – Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAA) (“Pan American”, or the “Company”) today announced that as the last step of a transitional plan that has been under consideration for over a year, Mr. Geoff Burns, Chief Executive Officer, will retire effective December 31, 2015 and Mr. Michael Steinmann, currently President, will be appointed President & CEO effective January 1, 2016. Mr. Steinmann will also join the Board of Directors on January 1, 2016. Mr. Burns will continue serving on the Company’s Board of Directors until the Company’s next Annual General Meeting scheduled for mid-May of 2016.

Geologix’s TSX Listing Under Review

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http://www.geologix.ca/s/NewsReleases.asp?ReportID=733798&_Type=News&_Title=Geologixs-TSX-Listing-Under-Review

Vancouver, BC – December 11, 2015 — Geologix Explorations Inc. [TSX: GIX] (“Geologix” or “the Company”) has been advised by the Toronto Stock Exchange that, as a result of both the Company’s current share price and lack of exploration activity in 2015, the Company may no longer meet the Exchange’s continued listing requirements. Geologix has until April 8, 2016 to meet such listing requirements. Geologix intends to apply for a listing of its common shares on the TSX Venture Exchange. Assuming this application is successful, the Company will subsequently delist its shares from the Toronto Stock Exchange.

Millrock Closes Non-Brokered Private Placement

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http://www.canadianminingjournal.com/press-releases/story/?id=1003735838

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 10, 2015) – Millrock Resources Inc. (TSX VENTURE:MRO) reports that the non-brokered private placement announced on November 20, 2015 and subsequently increased has closed. A total of 8,321,509 Units at a price of $0.16 per Unit have been issued for gross proceeds of $1,331,441.44. Each Unit consists of one common share and one share purchase warrant (the “Warrants”), with each Warrant entitling the holder thereof to purchase one additional common share at a price of $0.22 per common share until December 10, 2016, thereafter at a price of $0.30 per common share until December 10, 2017 and thereafter at a price of $0.40 per common share until December 10, 2019.

Minera Alamos Inc. Provide Update on Work at Los Verdes

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1547-tsx-venture/mai/14604-minera-alamos-inc-provide-update-on-work-at-los-verdes.html

TORONTO, ONTARIO–(Marketwired – Dec. 10, 2015) – Minera Alamos Inc. (the “Company” or “Minera Alamos“) (TSX VENTURE:MAI) today provided an update on the development efforts underway at its 100% owned Los Verdes project in Sonora Mexico. The Company has completed initial mine planning at the South Deposit and the evaluation of sensor based ore sorting techniques.