Morro Bay Announces First Quarter Financial Results

http://www.fscwire.com/newsrelease/morro-bay-announces-first-quarter-financial-re

Calgary, Alberta (FSCwire)Morro Bay Resources Ltd. (“Morro Bay” or the “Company”) (TSX-V: MRB; OTCQX: MRRBF) announces it has filed its Q1, 2016 condensed consolidated interim financial statements (“Financial Statements”) and the related management’s discussion and analysis of those financial statements (“MD&A”).  Copies of the Financial Statements and MD&A can be viewed at www.sedar.com or on the Company’s website at www.morrobayresources.com.

 

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Bacanora Announces Interim Results for Six Months Ended December 31, 2015

http://www.canadianminingjournal.com/press-releases/story/?id=1003768378

CALGARY, ALBERTA–(Marketwired – Feb. 29, 2016) – BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (TSX VENTURE:BCN) (AIM:BCN), the London and Canadian listed lithium company that is developing the Sonora Lithium Project in northern Mexico, is pleased to provide its unaudited condensed consolidated interim results for the 6 month period ended 31 December 2015.

Highlights on the fourth week of February 2016, Mineral Exploration in Mexico

During the fourth week of February, Orex Minerals reported exciting results from the next five holes at its Sandra Escobar property in Durango, whereas Northair Mines disclosed some rockchip sampling results from its La Cigarra property, and Azure Mining LTD announced the oncoming drilling campaign at its Promontorio property. Great Panther Silver and Goldcorp released resource figures to the end of 2015, while Mag Silver announced a bought deal financing and Marlin Gold a Normal Course Issuer Bid. Santacruz Silver Mining released plans to ramp up production at Veta Grande, while Cyprium Mining Corp is rehabilitating mine workings at the Potosi mine in Chihuahua. HECLA Mining Corp, First Majestic Silver Corp, Golden Minerals Co and Goldcorp Inc presented their financial results for 2015. The cash cost per ounce is not bad for HECLA, First Majestic and Peñasquito from Goldcorp, but in Velardeña and Los Filos it conduced to closure for the Velardeña mine and reserve reduction at Los Filos.

On Exploration. Orex Minerals announced assay results for five more holes (6 of 17 holes released to date) at its Sandra Escobar property in Durango (optioned from Canasil), the results are nothing short of exciting, with intersections like TW 45m @ 218 g/t Ag in hole 2, TW 40.6 m @ 139 g/t Ag in hole 3, TW 39 m @ 91 g/t on hole 4, TW 33.3 m @ 186 g/t Ag in hole 5 and TW 33.5 m @ 328 g/t Ag in hole SA-15-. Not to say that included in these good numbers are higher grade intervals, like the 21.7 m @ 453 g/t Ag in hole 6. Northair Silver Corp announced further rockchip sampling at its La Cigarra property in Chihuahua, with results of up to 125 g/t Ag and 6.9 g/t Au. Azure Mining LTD let know that the Project Promontorio in Chihuahua, in option with Kennecott, will be drilled commencing next month.

Sandra Escobar Drillhole table 01 to 06, Feb 20161

On Resources. Great Panther Silver Corp updated the mineral resource estimate at its Guanajuato mine complex, for a total of 1.5 Mt @ 149 g/t Ag and 2.8 g/t Au and a resource of 7.4 M Oz of silver and 138 K Oz of gold. Goldcorp recorded a 3.5% decrease of reserves to 10.17 million gold ounces for Peñasquito, resulting from mining depletion, while at Los Filos, Guerrero, a new study considerably reduced the reserves and life of mine, at a gold price of $1,100 per ounce, although the resource base (all inclusive) changed in a lesser proportion to 539,420,000 tons @ 0.85 g/t Au and 8 g/t Ag, for 14.7 M Oz Au and 139 M Oz Ag.

On Financing. Mag Silver Corp is announcing a US$65 million bought deal financing, intended to fund exploration and development expenditures at its Juanicipio Project in Zacatecas. Marlin Gold Mining LTD announced its intention to buy up to 2 M shares of the company through a Normal Course Issuer Bid (NCIB).

On Mining. Santacruz Silver Mining LTD is aiming to end the first quarter of 2016 with the plant of the Veta Grande vein system in Zacatecas processing 350 ton/day. Cyprium Mining Corp has announced the rehabilitation of the Potosi silver mine, in the historic Santa Eulalia District near Chihuahua. HECLA Mining Co produced 81.6 K Oz Ag and 870 ounces of gold in December 2015, its first month of operations at its San Sebastian mine in Durango, at a cash cost of $ 6.71 per ounce silver, including gold credits. In January the production has stepped up to 288 K Oz Ag and 2.2 K Oz Au, from 10,446 tons milled @ 0.23 Oz/t Au (7.1 g/t Au) and 29.4 Oz/ Ag (914 g/t Ag). Recoveries are above 90% for both metals. First Majestic Silver Corp produced during 2015 11.1 M Oz Ag, or 16.1 M Oz AgEq form its mines, at a cash cost of $8.77 per Ag Oz, and an all sustaining cost of $11.28 per Ag Oz. Its mines include: Santa Elena in Sonora, La Encantada in Coahuila, La Parrilla in Durango, Del Toro and San Martin in Zacatecas and La Guitarra in Mexico State. Golden Minerals Co reported production 0f 327 K Oz Ag and 1,976 Oz Au for 2015, from its Velardeña mine in Durango. The mine was put in care and maintenance on November 2015 due to low metal prices. Goldcorp Inc provided annual financial results for 2015, and an update in reserves. Peñasquito in Zacatecas milled 106,500 tons perd day, with a record production of 806,300 Oz Au for the year at an all-in sustaining cost of $544 per ounce. For Peñasquito the guidance for 2016 is between 520 and 580 K Oz Au, due to lower grades. At Los Filos mine in Guerrero, production for 2015 was 272.9 K Oz Au at an all sustaining cost of $1,488 per ounce.

On development. Almaden Minerals LTD hit 43 m 0f 2.2 g/t Au and 85 g/t Ag in a drillhole through the core of the PEA pit of its Ixtaca property in Puebla. Torex Gold Resources Inc is ramping up operations at its El Limon-Guajes mine in Guerrero, within schedule and within the 800 million budget. Their next goals include declaration of commercial production, the resettlement of El Limon village and the commissioning of the El Limon crusher.

On Properties. Arian Silver Corp signed a non-binding memorandum of understanding with Tierra Nueva Mining, which includes the Noche Buena project in northern Zacatecas, and its associated tailings dam. Great Panther Silver terminated its option to buy the Guadalupe de Los Reyes project in Sinaloa.

In the image below, a dacitic flow in the Soconusco region, Chiapas.

Coatan 144

Riverside Wins Right to Stake Ariel Copper-Gold Project Through Lottery, Sonora, Mexico

http://www.canadianminingjournal.com/press-releases/story/?id=1003768121

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 29, 2016) –Riverside Resources Inc. (“Riverside” or the “Company”) (TSX VENTURE:RRI)(OTC PINK:RVSDF)(FRANKFURT:R99) is pleased to announce that Riverside won the right to stake and has subsequently staked and acquired the 12.4 km2 Ariel Copper-Gold Project (the “Project”) located in northern Sonora, Mexico. The initial field reviews and acquisition was completed as part of work through the Company’s generative copper exploration alliance (the “Alliance”), with a wholly owned subsidiary of Antofagasta Plc. (“Antofagasta”). The Ariel Project is strategically located 30 km ESE of the world-class La Caridad Cu-Mo porphyry mine (1,800 Mt @ 0.45% Cu, 0.02% Mo)1, and 24 km SE of the Los Alisos Cu porphyry prospect, NW Sonora, Mexico. The project covers an extensive zone of hydrothermal alteration, measuring 2.8 km in length by up to 1.9 km wide in one central area and other lateral zones.

First Dore Bar Produced at Starcore’s Altiplano Plant

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/426-tsx/sam/17017-first-dore-bar-produced-at-starcore-s-altiplano-plant.html#.VtRwEOTrvIU

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 26, 2016) – Starcore International Mines Ltd. (TSX:SAM) (“Starcore” or the “Company”) announces that its Altiplano Plant located in Matehuala, Mexico, commenced commercial production as of February 15, 2016, pouring its first doré bar, weighing in at 21.131 kg.

“The Plant is open for business,” said Robert Eadie, President of the Company. “This is a huge milestone for us in Mexico. With Altiplano’s leaching process, we are able to offer the local miners more flexible financing options compared to what is currently being made available to them by smelters and international traders.

 

Primero Provides Exploration Update; Black Fox Froome Zone Expanded With Intersection of Significant Continuity; New Vein Discovery at San Dimas

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1165-tsx/p/17001-primero-provides-exploration-update-black-fox-froome-zone-expanded-with-intersection-of-significant-continuity-new-vein-discovery-at-san-dimas.html#.VtRuQ-TrvIU

TORONTO, ON–(Marketwired – February 29, 2016) – Primero Mining Corp. (“Primero” or the “Company”) (TSX: P) (NYSE: PPP) today announced the results of successful exploration programs at the Company’s Black Fox mine located near Timmins, Ontario, Canada and the San Dimas mine located in Durango, Mexico.

Vista Gold Corp. Announces 2015 Results and Provides Update on Guadalupe de los Reyes

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1248-tsx/vgz/17003-vista-gold-corp-announces-2015-results-and-provides-update-on-guadalupe-de-los-reyes.html#.VtRta-TrvIU

DENVER, Feb. 29, 2016 /CNW/ — Vista Gold Corp. (the “Company,” “we” or “our”) (NYSE MKT and TSX: VGZ) today announced its audited financial results and highlights for the fiscal year ended December 31, 2015. Management’s quarterly conference call to discuss these results is scheduled for 2:30 p.m. MST on March 2, 2016. The Company’s full audited financial statements, Management’s Discussion and Analysis together with other important disclosures can be found in the Company’s Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.

Baja Corporate Update — Boleo Ramp-up and 2016 MMB Budget

http://www.bajamining.com/content/pdfs/news/NR03_2016-02-29_Bole_Update_FINAL.pdf

VANCOUVER, BC–(Marketwired – February 29, 2016) – Baja Mining Corp. (“Baja” or the “Company”) (TSX VENTURE: BAJ) (OTCQB: BAJFF) is pleased to report that Tom Ogryzlo — Interim CEO and Director, and Wolf Seidler — Director, visited the Boleo Mine on February 19, 2016, and met with operations management of Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. (“MMB”) to discuss progress at Boleo, including both the underground and open pit mining and the process plant production ramp-up.