The second week of January came with a good array of press releases.
On Exploration. Canarc Resource Corp released a new resource estimate for its El Compas Mine, consisting of 173 K Oz Au and 1.87 M Oz Ag as combined Indicated and Inferred Resources. The ore is hosted on several gold carrying veins, with grades of 6.5 and 4.2 g/t Au for Indicated and Inferred resources, respectively, both carrying also 66 – 60 g/t Ag. Impact Silver reported additional high grade drilling intercepts at its producing San Ramon Mine in Zacualpan, in Mexico State, with up to 7.9 m @ 425 g/t Ag and 4.1 m @ 319 g/t Ag (true width). Southern Silver, in its Cerro Las Minitas project, Durango, drilled 12.8 m (estimated TW) @ 348 ppm AgEq on the El Sol-Blind zone and 3.5 m @ 646 ppm AgEq Mina La Bocona zone. In both areas the drilling extends the known mineralization, which is still open in several directions.
On consolidation. Kootenay acquired Northair, creating a stronger silver player in Mexico, with Kootenay’s Promontorio and La Negra projects in Sonora and Northair’s La Cigarra project near Parral in Chihuahua.
On Mining. HECLA informed that its San Sebastian mine in Durango began to process mineral on the 10th of December, producing its first dore bullion by the end of the same month. On the other hand, Nyrstar announced the formal launch of the sale process of its mining assets, among which is its idle Campo Morado Mine in Guerrero.
On production. Several companies announced production results for the last quarter and/or the full 2015 year, among which are: Coeur Mining, Dyna Resource, Endeavour Silver, HECLA Mining, Argonaut Gold, Capstone, McEwen Mining, Aura Minerals, Excellon Resources, Gold Resources Corp, Yamana Gold, Alamos Gold and Fortuna silver.