During the second week of June, at least 21 press releases from companies working in Mexico were published. On exploration, Evrim Resources and Silver Crest Metals reported exploration results on their properties in Chihuahua and Sonora respectively. On mining, Avino Silver, DynaResources, Torex Gold and Cyprium Mining reported production related news on their mines in Durango, Sinaloa, Guerrero and Chihuahua. On financing, eight companies announced either the opening, tranche completion or the closing of financing rounds, for total gross proceeds of C$76.5 million and $5.2 million. On deals, Riverside Resources seems to be getting back the Peñoles property in Durango, from JV partner Morro Bay. Centerra Gold terminated the option agreement on the Tajitos property in Sonora.

On Exploration

• Evrim Resources Corp. announced work on its Cerro Cascaron project in Chihuahua. The project contains low and intermediate sulfidation style targets, as well as tourmaline breccias. The property exhibits textural and geochemical zonation on the different targets.
• Silver Crest Metals Inc. has extended the current 3,000 m drilling program to 5,000 m. To date, 15 holes have been completed for a total of approximately 3,700 meters; all holes have intersected quartz stockwork and veining, results are pending. Furthermore, 87 continuous channel samples were collected as the rehabilitation of underground workings progresses. Results are as high as 7 m @ 7.8 g/t Au, 1,160 g/t Ag; 0.7 m @ 11.1 g/t Au and 222 g/t Ag; 1.2 m @ 8.4 g/t Au, 84.9 g/t Ag; 1.8 m @ 3.4 g/t Au, 245 g/t Ag and 2.0 m @ 2.1 g/t Au, 462 g/t Ag.

On Mining

• Avino Silver & Gold Mining Ltd. announced commercial production at its Avino mine in the Avino District, Durango. Currently the plant is treating 1,400 tons/day of ore.
• DynaResource Inc. reported the production from its San Jose de Gracia pilot mill in Sinaloa , with 3,371 tons processed during May, at a grade of 15.48 g/t Au.
• Torex Gold Resources Inc. produced 29,995 ounces of gold during May at its Limon-Los Guajes mine in Guerrero, almost 1,000 Oz Au per day. The plant processed an average of 11.47 K tpd during May, with a peak of 16.43 K tpd, 17.4% above design capacity. The recovery rate for gold was 75%, lower than expected, due to some equipment failure.
• Cyprium Mining Corp. announced results from 35 underground samples at its Potosi mine in the Santa Eulalia district, Chihuahua, averaging 578 g/t Ag, 5% Pb and 2.8% Zn over 1.65 m at level 4, and averaging 100 g/ Ag, 2.8 % Pb and 8.4 % Zn on level 3 over 1.45 m.

On Financing

• Primero Mining Corp. announced the agreement with a syndicate of underwriters led by BMO Capital Markets to a bought deal financing for aggregate proceeds of C$45 million. Funds to be used to advance development at the Company’s San Dimas mine (in Sinaloa) and Black Fox mines as well as for exploration, working capital and general corporate purposes.
• Minera Alamos Inc. has closed a non-brokered private placement for gross proceeds of $400 K (La Fortuna project, Durango; Los Verdes, Sonora).
• Silver Bull Resources Inc. completed the second tranche of a non-brokered private placement for aggregate gross proceeds of CDN$434.5 K (Sierra Mojada, Coahuila).
• Canasil Resources Inc. announced a non-brokered private placement aiming at total gross proceeds of $2.4 M (several properties in Durango and Zacatecas).
• GoGold Resources Inc. completed the bought deal offering previously announced bought deal financing, for gross proceeds of C$11.12 M (Santa Gertrudis in Sonora; Parral tailings operations in Chihuahua).
• VVC Exploration Corp. announced a convertible debenture private placement of up US$1 million (Samalayuca project in Chihuahua).
• Americas Silver Corp. closed a private placement announced on May 20^th, for gross proceeds of C$20 million. A concurrent private placement announced on May 24^th, is aimed at additional gross proceeds of up to C$11.5 million (Tejamen project in Durango).
• Impact Silver Corp. completed the third tranche of financing announced on May 20^th, which raised $1.425 million (Zacualpan mine in Mexico State).

On Deals

• Riverside Resources Inc. issued a note of default to Morro Bay Resources Inc., which has failed to incur the required $750 K in JV expenditures at the Peñoles (El Capitan) project in Durango.
• Riverside Resources Inc. announced the termination of the option agreement with Centerra Gold Inc. on its Tajitos project in Sonora.

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

On the picture below, looking NNE to Las Chispas from La Victoria area. Some dumps are visible on the dacitic dikes intruding the volcanic sequence. Las Chispas District, Sonora.