During the third week of May at least 23 press releases from companies working in Mexico were published. On exploration, Oceanus, Azure, Riverside and Santacruz Silver presented exploration results related to their mines/properties. On mining, Avino Silver released its first quarter results, Marlin Gold provided information on the mining of a higher grade part of the pit and Southern Silver acquired some land. On financing, eight companies announced results for various stages of their financing rounds: Minera Alamos, Impact Silver, Silver Bull, GoGold, Marlin Gold, Americas Silver, Bacanora Minerals and Avino Silver, with gross proceeds of over $60 million. (not a bad week). On deals, Telferscot signed a LOI to acquire Auxico, which owns a property in Sinaloa.

On Exploration

• Oceanus Resources Co. Continues to assay previously unsampled drill core on its El Tigre property in Sonora. With these results incorporated to the prior ones, several good looking intervals appear, like: 97.7 m @ 0.9 g/t Au and 67 g/t Ag; 104.0 m @ 0.53 g/t Au and 36 g/t Ag; 113.5 m @ 0.61 g/t Au and 20 g/t Ag; 71.5 m @ 0.64 g/t Au and 15 g/t Ag and 56.1 m @ 0.61 g/t Au and 129 g/t Ag. Re-sampling of previous high grade intercepts also returned high grades on El Tigre Vein, with 1.4 m @ 5.4 g/t Au and 4,143 g/t Ag; 3.5 m @ 16 g/t Au and 1,375 g/t Ag and 4 m @ 0.32 g/t Au and 594 g/t Ag. Sampling of the wall on Johnny crosscut returned 92.6 m of 0.76 g/t Au and 31 g/t Ag.
• Azure Minerals Ltd. released results from prospecting at the Palo Seco target area in its Alacaran property in Sonora. Seven of 12 rock samples returned high values of silver, gold, lead and zinc (215 to 1,119 g/t Ag; 0.07 to 1.26 g/t Au; up to 1.5 % Pb and up to 1.8 % Zn)  in 0.4 to 1 m widths, collected in a zone 150 m long by 60 m wide.
• Azure Minerals Ltd. announced it has acquired 100 % of a 201 hectares claim, named San Agustin, which is 3 km southwest of Argonaut’s San Agustin Project in Durango.
• Riverside Resources Inc. provided drill results from its Tajitos project in Sonora, where Riverside and partner Centerra Gold Inc. completed eight diamond core holes totaling 1,832 metres. Highlights are 11.1 m @ 0.78 g/t Au, 3 m @ 6.12 g/t Au and 1.5 m @ 6.03 g/t Au.
• Santacruz Silver Mining Ltd. filed a NI 43-101 report at SEDAR on the Veta Grande project in Zacatecas. The Veta Grande Project includes the Veta Grande Properties and Mine, and Minillas property, held under the agreement with Contracuña, and the Zacatecas Properties held under option from Golden Minerals Co.. “veins within the La Cantera and Veta Grande vein systems strike northwest-southeast, ……. and are characterized as low-sulphidation epithermal silver (+lead+zinc+gold) veins. They range in thickness from less than 1 m to over 30 m, average between 2-10 m, and in some instances have been traced along surface for several kilometres”.

On Mining

• Southern Silver Exploration Co. has completed the purchase and obtained legal title to land at the Cerro Las Minitas project formerly held by the vendor of the mineral concessions. As part of the July, 2015 agreement, the Company negotiated the cessation of mining rights on the property by the vendor, the acquisition of all mining equipment on the claims and the purchase of a 5.9 hectare surface lot which partially overlies the Blind and El Sol mineral deposits. With this acquisition, Southern Silver now owns a total of 10.9 hectares of land which may be utilized for mining, milling and production facilities on the property in the future.
• Avino Silver & Gold Mines Ltd. released its first quarter 2016 results, which include milling 140 K tonnes of ore to produce 403 K Oz Ag, 1,497 Oz Au, and 1.35 M Lb Cu at its Avino and San Gonzalo mines in Durango. Cash cost was $5.64 OZ AgEq and the All-in sustaining cost $11.29 Oz AgEq.
• Marlin Gold Mining Ltd. announced that it has commenced mining at the high grade HS Zone at its La Trinidad mine in Sinaloa. It also released drill results from the south part of the Taunus pit, which include 11 m @ 6.9 g/t Au, 20.8 m @ 3.5 g/t Au, 6.9 m @ 4 g/t Au and 26.9 m @ 1.2 g/t Au.

On Financing

• Minera Alamos Inc. closed the second tranche of its previously announced private placement for gross proceeds of $1,980,000. Together with the first two tranches of the private placement closed in May and April, the Company has raised, in aggregate, $4,000,000.
• GoGold Resources Inc. entered into a bought deal agreement with Cantor Fitzgerald Canada Corporation and BMO Capital Markets for gross proceeds of approximately C$10 million.
• Marlin Gold Mining Ltd. completed the rights offering to shareholders, for gross proceeds of $13 million.
• Americas Silver Co. announced a private placement financing aiming to accrue gross proceeds of up to C$20 million, to be used on its Galena (USA) and San Rafael (Sinaloa) properties.
• Impact Silver Corp. announced a brokered private placement aimed to get gross proceeds of up to $1.71 million, for funding continued exploration and development of its silver assets in Mexico.
• Silver Bull Resources Inc. completed the initial tranche of its previously announced non-brokered private placement for gross proceeds of C$0.565 million.
• Bacanora Minerals Ltd. announced that it has raised $11.2 million (7.7 million pounds). The funds raised will be invested in the Company’s Sonora Lithium Project.
• Avino Silver & Gold Mines Ltd. raised through its previously announced At-the-Market offering gross proceeds of USD$3,985,891. The funds have been and will be used to advance the development of the Company’s Avino mine property and its mining operations in Mexico, to develop the Bralorne mine, and for general working capital.

On Deals

• Telferscot Resources Inc. signed a letter of intention with Auxico Resources Canada Inc. to acquire the issued and outstanding shares of the latter. Auxico’s main project is Zamora, in Sinaloa, a 3,376 hectares silver-gold play

Content like what you have just read can be seen at LinkedIn’s Mexico Mineral Exploration Group.

On the picture below, Los Alisos porphyry copper prospect near La Caridad District in Sonora.