CALGARY, ALBERTA–(Marketwired – Aug. 31, 2016) – Further to the announcement dated August 11, 2016, Bacanora Minerals Ltd. (TSX VENTURE:BCN)(AIM:BCN) (“Bacanora Canada” or the “Company“), the AIM and TSX Venture Exchange (“TSX-V“) listed lithium and borates company focussed on Mexico, announces that it has posted to shareholders a supplement to the management information circular of the Company dated July 14, 2016 (the “Supplement“) convening the postponed annual and special meeting of Bacanora Canada to be held at Gowling WLG (Canada) LLP, at 1600, 421 – 7th Avenue S.W., Calgary, Alberta, Canada, T2P 4K9 on September 28, 2016 at 10:00 a.m. (Calgary time), together with an amended form of proxy for voting at the postponed meeting. Original forms of proxy sent to shareholders with the management information circular of the Company dated July 11, 2016 will not be valid for voting at the postponed meeting.
Month: August 2016
Goldgroup Announces Favorable Ruling in the Arbitration Against Dyna USA, Inc, and Provides a Legal Update
VANCOUVER, Aug. 31, 2016 /CNW/ – Goldgroup Mining Inc. (“Goldgroup” or the “Company”) (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) is pleased to announce the favorable results and award (“Award”) from the conclusion of the arbitration (“Arbitration”) between Goldgroup and Dyna USA, Inc. (“DynaUSA”). The results and Award were issued by the American Arbitration Association – International Centre for Dispute Resolution (“Arbitrator” or “ICDR”) on August 24, 2016. This Award is final, binding and may be enforced in court. A copy of the Award has been filed on SEDAR and posted to our website.
Canuc Resources Corporation Enters into Definitive Agreement with Santa Rosa Silver Mining Corp.
Toronto, Ontario–(Newsfile Corp. – August 29, 2016) – Canuc Resources Corporation (TSXV: CDA) (“Canuc” or the “Company“) and Santa Rosa Silver Mining Corp. (“Santa Rosa“) are pleased to announce that further to the execution of the Letter of Intent announced on June 9, 2016 and the subsequent negotiation of a business combination agreement (the “Definitive Agreement“) the parties have executed the Definitive Agreement on August 26, 2016, with effect as of such date, to combine Canuc and Santa Rosa by way of an amalgamation of Santa Rosa and a wholly-owned subsidiary of Canuc, to form one company as a wholly-owned subsidiary of Canuc (the “Transaction“).
Goldcorp Produce 28% Del Oro en México
La empresa canadiense Goldcorp participó con 28% de las 3.96 millones de onzas de oro que produjo México en el 2015, informó la Cámara Minera de México (Camimex).
Esta producción total del país tuvo un crecimiento interanual de 25.7%, mientras que su valor sumó 73,000 millones de pesos, lo que significó un aumento de 37.1% con respecto a 2014, en consecuencia con un mayor volumen y la depreciación del peso, a pesar de la caída del precio del oro en términos de dólares.
Cyprium Mining Calls Special Debenture Holders Meeting for September 21, 2016
Montreal, Quebec – (August 31st, 2016) Cyprium Mining Corporation (“Cyprium” or the “Company”) (TSX-V: CUG) is pleased to announce that it has called a special meeting of certain debenture holders for September 21st, 2016 (the “Meeting”). The Corporation was authorized under a debenture indenture dated February 28, 2014 (the “Indenture“) to issue up to $750,000 in principal amount of unsecured, non-convertible debentures bearing interest at 12% per annum and maturing on February 28th, 2017 (the “Debentures”). A total of $750,000 in principal amount of Debentures were issued and outstanding as at the close of business on August 22, 2016 (the “Record Date”). The Debentures are entitled to be voted at the Meeting on the basis of one vote for each one dollar of principal amount of each Debenture and the holders of Debentures of record at the close on the Record Date, are entitled to vote such Debentures at the Meeting.
Santacruz Silver Reports Second Quarter Financial Results
Click to access article_08302016122814.pdf
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports on its financial and operating results for the second quarter of 2016 (“Q2”). The full version of the financial statements and accompanying management discussion and analysis can be viewed on the Company’s website at http://www.santacruzsilver.com or on SEDAR at http://www.sedar.com. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of US dollars, except per unit amounts, unless otherwise indicated.
Peñoles es el líder en producción de plata refinada, México
México se encuentra entre los principales países productores de plata refinada, con la mexicana Peñoles como empresa líder mundial en la producción de este metal afinado, informó la Cámara Minera de México (Camimex).
Sólo Peñoles y Grupo México participan en el negocio de refinación de plata primaria en México, con un volumen conjunto total de 80 millones de onzas en 2015.
De acuerdo con The Silver Institute, México tuvo una disponibilidad de scrap de plata de 600,000 onzas en 2014. A diferencia del oro, este volumen no representa una parte importante en la composición de la oferta nacional de plata afinada del país.
Red Tiger Reports Quarter Ended June 30, 2016 Results
Toronto, Ontario / TheNewswire / August 29, 2016 – Red Tiger Mining Inc., (TSXV:RMN), (the “Company” or “Red Tiger”) today reported its financial and operating results for the three and six months ended June 30, 2016. This press release should be read in conjunction with the Company’s unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2016 and Management’s Discussion and Analysis (“MD&A”) for the corresponding period, available on the Company’s website at http://www.redtigermining.com and on SEDAR at http://www.sedar.com.
Santana Minerals Closes $2M Placement
Click to access 160829_Placement-Accouncement.pdf
29 August 2016: Santana Minerals Limited (Santana) is pleased to announce that it has received commitments from sophisticated and professional investors to issue 33,950,000 fully paid ordinary shares (New Shares) at a price of $0.06 each to raise $2,037,000.
Funds will be used to undertake further exploration work, including planned drilling, at the Cuitaboca Project in Sinaloa, Mexico which is anticipated to commence in October of this year.
Highlights on the fourth week of August 2016, Mineral Exploration in Mexico
During the fourth week of August, at least 17 press releases from companies working in Mexico were published, with one company producing second quarter financial reports, and one other reporting its first quarter. ON MEXICO NUMBERS, funds from the 2014 introduced mining tax commence to flow in Michoacan, Mexico continues as the top silver producer of the world, and gold production is decreasing during the first six months of 2016. ON EXPLORATION, Two companies presented exploration updates: Gold Resource reported more high-grade results of its brownfield exploration in Oaxaca, while Azure Minerals significantly extended by drilling the gold mineralized zone at its property in Sonora. ON MINING, Starcore presented second quarter 2016 production results for its first quarter, and Impact Silver presented its financial results for the second quarter. Cyprium released high-grade channel sample results from an oxide ore body. Timmins Gold presented a new mining plan for its Sonora property that would see operations until 2023. Defiance Silver assured land access in Zacatecas and Telson Resources started a bulk sampling program in Durango. ON FINANCING, One company completed a private placement for gross proceeds of $1.2 M and an additional non-brokered subscription for $300 K. ON RESOURCES, Timmins Gold advanced numbers on a technical report still to be presented on its mine in Sonora. ON DEALS AND CORPORATE ISSUES, First Mining sold three properties to BRS Ventures. DYNA issued some statements regarding its legal battle with Goldgroup over ownership participation levels in a property in Sinaloa. Oremex changed name and Arian Silver extended a LOI on a tailings project in Zacatecas.
MEXICO NUMBERS
- Michoacan. Seven municipalities with mining activities will soon receive the approximately US$3.55 M dollars on mining taxes collected by the federal government during 2014 from the State: Lazaro Cardenas, Churumuco, Aquila, La Huacana, Arteaga, Chinicuila and Morelia. The resources are set to be applied mainly on infrastructure projects in the communities.
- CAMIMEX (Camara Minera de Mexico). Mexico is the world leader in silver production for sixth year in a row, producing 191.5 M Oz of silver, 3.3% more than in 2014. The investment expected in the next few years in new mines and processing capacity expansion amounts to $854 M dollars.
- Gold production by the main mining companies in Mexico decreased 15% in the first half of 2016. Goldcorp’s Peñasquito in Zacatecas presented a 65% production reduction, mainly due to an expected ore grade decline. Frisco produced 9% less gold, due to recovery issues at its El Coronel mine in Zacatecas. Other enterprises with decreased production include Primero Mining (36.7%), New Gold (28.8%), Argonaut Gold (22.6%) and Alamos Gold (4.3%). Companies that presented increased gold production during the first half of 2016 include Peñoles (22%), Grupo Mexico (36%), Pan American Silver (18%) and Agnico Eagle (0.1%).
ON EXPLORATION
- Gold Resource Corp. reported more high-grade results from infill drilling of the Altagracia vein at the El Aguila project in Oaxaca. The drillholes intercepted multiple parallel veins, with results up to 8.2 m @ 9.1 g/t Au, 75 g/t Ag, 1.8% Cu, 3.4% Pb, 8.8% Zn; 4.9 m @ 3.65 g/t Au, 42 g/t Ag, 0.59% Cu, 1.2% Pb, 9.3% Zn; 7.9 m @ 6.9 g/t Au, 618 g/t Ag, 0.8% Cu, 1.7% Pb and 3.4% Zn; and 5 m @ 1.47 g/t Au, 105 g/t Ag, 1% Cu, 1% Pb and 6.4% Zn. The Switchback system contains multiple parallel high-grade polymetallic veins with more than 630 K tonnes of mineralized material, and is still open in all directions.
- Azure Minerals Ltd. significantly extends the gold mineralized zone at the Loma Bonita target at its Alacran property in Sonora. Gold mineralization commences at or near surface, and is hosted in the oxide zone, over a length of 400 m and up to 150 m in width, with mineralization remaining open in all directions. Best drill intercepts include (core) 49.5 m @ 1.59 g/t Au, 29 g/t Ag; 111 m @ 0.81 g/t Au, 18 g/t Ag; (RC) 7.1 m @ 0.99 g/t Au, 50 g/t Ag; 33.9 m @ 0.41 g/t Au, 12 g/t Ag; and 14 m @ 1.59 g/t Au, 36 g/t Ag. Drilling at Mesa de Plata Norte has not produced encouraging mineralization and alteration intervals, and drilling has shifted to the Cerro San Simon and Cerro de Enmedio targets.
ON MINING
- Starcore International Mines Ltd. reported production results for its first quarter 2016 (ended on July 13th), milling 66 K tonnes of ore @ 2.17 g/t Au and 16 g/t Ag, for the production of 4,207 Au Eq ounces at a recovery rate of 86.4% for gold and 45.7% for silver.
- Cyprium Mining Corp. released results from 36 channel samples collected from an oxidized part of the Santo Domingo orebody (underground). The samples average 3 m @ 30.2% zinc, mainly as hemimorfite.
- Timmins Gold Corp. presented an updated technical report in which mining is to proceed at its gold San Francisco mine in Sonora until 2023, with decreasing production from 90-100 K Oz/year to 45-50 K Oz gold per year by 2022.
- Defiance Silver Corp. has signed a land access agreement for its San Acacio project in Zacatecas.
- Telson Resources Inc. has initiated the collecting of a 2 K tonnes bulk sample from the El Creston area on its Tahuehueto property in Durango.
- Impact Silver Inc. announced its financial results for the second quarter of 2016. Total tonnes milled were 45.1 K tonnes at an average mill feed of 180 g/t Ag, producing 236 K Oz silver. The company focus is in developing high grade ore shoots in a number of targets.
ON FINANCING
- Marlin Gold Ltd. Completed its previously announced bought deal brokered private placement, for gross proceeds of $1.2 M. and an additional non-brokered subscription for $300 K.
ON RESOURCES
- Timmins Gold Corp. advanced numbers on a new technical report (still to be filed) which includes updated mineral reserves and resources to the end of July for its San Francisco mine in Sonora. Reserves stand at 32.1 M tonnes @ 0.59 g/t Au, containing 635 K Oz Au, (or 76 M tonnes @ 0.65 g/t Au as resources, including reserves, for 1.1 M Oz Au), using a gold price of $1,250 per ounce. If a $1,350 price per ounce is utilized, the resources increase by almost 70%.
ON DEALS AND CORPORATE ISSUES
- First Mining Finance Corp. signed an agreement with BRS Ventures Ltd. under which First Mining will sell all the issued and outstanding shares of Minera Terra Plata SA de CV. a subsidiary of First Mining, which owns the Peñasco Quemado (Sonora), La Frazada (Nayarit) and Pluton (Durango) properties.
- Oremex Silver Inc. changed its name to Monarca Minerals (Tejamen, Durango).
- Dyna Resource de Mexico SA de CV. Issued some statements regarding its San Jose de Gracia property in Sinaloa, and the legal dispute with Goldgroup on ownership participation levels. According to the release, DynaResource Inc. owns 80% of the outstanding share capital of Dyna Mexico, while Goldgroup is entitled to 20%.
- Arian Silver Corp. Announced it has secured an extension on its exclusive right to evaluate the gold and silver tailings Noche Buena project in Zacatecas, held by Tierra Nueva Mining Ltd., to October 26th, 2016. A 2012 technical report on the tailings outlined an indicated mineral resource of 1 M tonnes @ 3 g/t Au and 55 g/t Ag, or about 100 K Oz Au and 1.7 M Oz Ag.
Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.
On the picture below, geologist Guillermo Contreras looking at rocks on a pillar of the quartz veinlet swarm mined at the Cerro Hueco workings in Durango.
