The third week of January shows a diversity of events going on at the same time. Two companies released second generation PEA’s, while another put additional resource numbers on a deposit. On exploration three companies announced high grade results on their properties in Chihuahua, Jalisco and Oaxaca, while in mining a company announced 100% production expansion and other the commencement of small scale processing. Just two deals on properties were announced.
On Exploration. Consolidated Zinc LTD released results from drilling at its Plomosas property in NE Chihuahua, showing high grade intercepts of 1.10m at 18.35% Zn, 12.03% Pb, 74.4 g/t Ag and 1.15m at 28.90% Zn, 2.33% Pb, 12.2 g/t Ag Endeavour Silver released high grade drilling results from its Terronera property in Jalisco, with results of up to 5.6m @ 4.3 g/t Au and 3,875 g/t Ag. Gold Resource Corp. keeps running into interesting drilling intercepts into the extensions of the Arista vein, with up to 5.5m @ 14.2 g/t, and discovers the Marena vein, with up to 3.3m @ 12 g/t Au, 150 g/t Ag, 0.7% Cu, 7.6% Pb and 24% Zn.
On Resources. Almaden Minerals filed a PEA of its Ixtaca project, located in Puebla, while Canarc Resource Corp filed a PEA for the Compas Mine in Zacatecas. Both properties counted with previous PEA’s. Impact Silver Corp released an updated mineral resource estimate at Capire (Mexico State), of 1.786 M tonnes @ 79.5 g/t Ag, 1.2% Zn and 0.5% Pb, for a total of 4.5 M Oz of contained silver.
On financing. Timmins Gold signed a new credit facility term sheet with Sprott Resource Lending Partnership and Goldcorp Inc.
On Mining. It was released an agreement to process 6,500 tons of ore from Goldplay Exploration in Gayney Capital’s Huajicori Nayarit facilities, without specifying the source property of the mineral. Go Gold Resources announced the expansion of operations at its Parral tailings plant, aiming to double production.
On production. First Majestic Silver Corp, New Gold, Pan American Silver Corp, Great Panther Silver and Avino Silver released production numbers for 2015, and guidance for 2016.