During the fourth week of May at least 19 press releases from companies working in Mexico were published. On exploration, Consolidated Zinc, Orex Minerals and Gayney Capital presented drilling results, or announced new drilling campaigns. On mining, Santacruz Silver released its first quarter results, and Americas Silver renewed mining operations. On financing, Mexico saw a 31% drop in exploration investment during 2015. Four companies announced results for various stages of their financing rounds: Azure Minerals, Americas Silver, Almaden Minerals and Golden Tag, with gross proceeds of A$15 M, C$20 M and $5.4 M. On deals, Mexus Gold US, Lithium Australia and Alset Energy entered in agreements for exploration of properties in Sonora and Zacatecas.
- Consolidated Zinc Ltd. announced more underground drilling results at its Plomosas mine in Chihuahua, with a high grade intercept of 3.3 m true width @ 33.7% Zn, 14.3 % Pb and 82 g/t Ag.
- Orex Minerals Inc. released more drilling results from the ongoing campaign at its Sandra Escobar property in Durango, including true thickness intervals like 40.5 m @ 218 g/t Ag, 38.5 m @ 143 g/ Ag and 19 m@ 133 g/t Ag. Two holes drilled on the Cerro Chato zone, another hillside where prospecting has identified the favorable horizon returned favorable results: 25.4 m @ 39 g/t Ag and 23 m @ 32 g/t Ag.
- Gainey Capital Corp. is starting a 2,000 meters to 5,800 meters drill program to test at least four targets at its El Colom project in Nayarit. The four zones to be tested have highlighted assays of up to 33 g/t Au and 1,500 g/t Ag.
- Santacruz Silver Mining Ltd. presented first 2016 quarter results, which include the milling of 24 K tonnes for producing 290 K Oz AgEq from its Rosario mine in San Luis Potosi. Cash cost for the period was $10.93 per AgEq ounce and All-in sustaining cost of $14.10
- Americas Silver Corp. has recommenced ore production at Nuestra Señora mine in Sinaloa, which was affected last April by ground movement.
- Azure Minerals Ltd. advised that it has secured funding for approximately A$15 million through a placement to institutional and sophisticated investors, to enable the Company to accelerate its development studies and to continue its aggressive exploration campaign at its Alacrán Project in northern Mexico.
- Americas Silver Co. announced a supplementary concurrent private placement of subscription receipts to the one announced last week, for estimated gross proceeds of C$10 million. These proceeds, along with those of the original private placement (C$20 M) will be used at their Galena property (USA) and its San Rafael mine in Sinaloa, among other corporate purposes.
- Almaden Minerals Ltd. closed a non-brokered private placement for gross proceeds of $4.4 million. These funds are to be used on the advancement of pre-feasibility studies, permitting work and some exploration drilling at its Ixtaca property in Puebla.
- Golden Tag Resources Ltd. will try to raise up to $900 K, part of which is to be used to secure ownership of the remaining 50% of the San Diego silver project in Durango.
- Investment in mining exploration in 2015 was US $552 M, a 31 % drop, which is the biggest in Latin America. Capital investment in the search of new deposits was reduced 3.2 % in Peru and 19.3 % in Chile.
- Mexus Gold US. Entered in a Joint Venture agreement with MarMar Holdings of Mexico at its Julio/Santa Elena property in Sonora. Under the 50/50 joint venture agreement, MarMar will operate the mine and carry all costs. Also, the Julio/Santa Elena property will now will be known as the Santa Elena mine (not to be mistaken with First Majestic’s Santa Elena mine, also in Sonora).
- Lithium Australia NL. earns 25% ownership at Alix Resources Corp’s Elektra lithium project in Sonora.
- Alset Energy Corp. is preparing for the exploration of salars (salt plains) in Zacatecas, under the agreement they have with Litio Mex, S.A. de C.V.
On the picture below, Copper oxides on a conglomerate bearing copper-silver mineralization. El Cobrizo project, NW of Ures, Sonora.