Month: August 2016

Corex Gold Announces Warrant Extension

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http://www.corexgold.com/s/NewsReleases.asp?ReportID=760886

Vancouver, BC — August 18, 2016, Corex Gold Corp. (“Corex” or the “Company) proposes to extend the expiry dates of 7,750,000 outstanding share purchase warrants (the “Warrants”) that were issued pursuant to a private placement completed in September 2014. Each Warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.15 per share for a period of 24 months from the date of issuance which expires on September 4, 2016. Subject to TSX Venture Exchange approval, the expiration of these Warrants will be extended to March 6, 2017. All other terms of the Warrants will remain the same. Under the policies of the Exchange 70,000 additional Warrants issued as finder fees are not eligible to be extended.

Cyprium Mining Reports High-Grade Zinc Oxide Assay Results From Underground Sampling at Potosi Mine

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/cyprium-mining/23728-cyprium-mining-reports-high-grade-zinc-oxide-assay-results-from-underground-sampling-at-potosi-mine.html

Montreal, Quebec – (August 22nd, 2016) Cyprium Mining Corporation (“Cyprium” or the “Company”) (TSX-V: CUG) is pleased to announce the results from additional underground samples taken from an oxidized zinc body on level 14 as part of its ongoing exploration program of the Potosi silver mine located in the historic Santa Eulalia, Mexico.

The thirty six samples were taken from two historic stopes on level 14 of the Santo Domingo body, and averaged 30.2% Zn over an average sample width of 3.00 m.  Two samples assayed less than 10% zinc and two samples were below detection levels for the zinc assay utilized, and 0 was used in the calculation of the average.  If the two samples with zinc assays below detection are left out, the average is 32.0% zinc for the remaining 34 samples.

McEwen Mining Appoints Donald Brown as Sr. Vice President, Projects

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http://globenewswire.com/news-release/2016/08/22/865778/0/en/McEwen-Mining-Appoints-Donald-Brown-as-Sr-Vice-President-Projects.html

TORONTO, Aug. 22, 2016 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce that Mr. Donald Brown will join the Company on August 29, 2016 as our Senior Vice President of Projects. Mr. Brown has a proven track record of delivering superior results and will lead the advancement and future development of our portfolio of global assets including the Los Azules copper project in Argentina and the El Gallo Silver project in Mexico, as well as assisting our current team with the ongoing development of the Gold Bar project in Nevada.

AuRico Metals Closes Equity Financing and Private Placement with Alamos Gold

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1720-tsx/ami/23754-aurico-metals-closes-equity-financing-and-private-placement-with-alamos-gold.html

TORONTO, Aug. 22, 2016 /CNW/ – AuRico Metals Inc. (TSX: AMI),(“AuRico” or the “Company”) announces that it has closed its previously announced bought deal offering of 11,500,000 common shares at a price of C$1.00 per common share, which includes 1,500,000 common shares issued pursuant to the exercise in full of the over-allotment option (the “Offering”).

The shares were purchased on a bought deal basis by a syndicate of underwriters (the “Underwriters”) co-led by National Bank Financial Inc. and Macquarie Capital Markets Canada Ltd., and included Mackie Research Capital Corporation, Canaccord Genuity Corp., Dundee Securities Ltd., and Paradigm Capital Inc.

In addition, Alamos Gold Inc. exercised its participation right to maintain its pro rata interest in full pursuant to a concurrent private placement undertaken in connection with the Offering for 1,272,611 common shares.   As a result, combined gross proceeds raised by the Company totaled C$12,772,611.

Highlights on the third week of August 2016, Mineral Exploration in Mexico

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During the third week of August, at least 19 press releases from companies working in Mexico were published, with several companies producing second quarter operational and/or financial reports. ON EXPLORATION, Eight companies presented exploration updates: SilverCrest reported high-grade underground channel sample results from its property in Sonora, while Mag Silver reported impressive drill results from its JV property in Zacatecas. Prospero Silver announced more work on its properties in Durango, Chihuahua and Hidalgo, and Evrim released sampling results at its property in Chihuahua. Almadex presented results from a second interval of a deep drillhole that is still ongoing, at its property in Veracruz. Sierra Metals presented brownfield exploration around its mines in Chihuahua, Excellon initiated a large drilling campaign at its mine in Durango and Minera Alamos staked more ground around its property in Durango. ON MINING, Sierra Metals. Mag Silver, Avino Silver and Goldgroup presented second quarter 2016 operational and/or financial results. Mexus completed liner installation on the leach pad at its JV operation in Sonora, Cyprium Mining began to extract mineralized back fill material from its mine in Chihuahua. Mexico produced 785 K tonnes of zinc during 2015, with 3/4 of that production realized on 12 mines.  ON FINANCING, two companies announced the closing of financing rounds, for total gross proceeds of $0.8 million.

MEXICO

  • CAMIMEX (Camara Minera de Mexico). According to this mining industry organization, Mexico produced 4.3 million ounces of gold in 2015, 14.4% more than in the previous year, and more than five times the 756 K Oz Au produced in 2001.

ON EXPLORATION

  • SilverCrest Metals Inc. reported more underground sampling results from its Las Chispas property in Sonora. New channel sample results from the 650 Level on the William Tell vein average 1.1m @ 3.2 g/t Au and 518 g/t Ag over continuous strike length of 21 m, and on the 450 Level 2.1 m @ 5.7 g/t Au, 257 g/t Ag average over continuous strike length of 30 m. Individual samples include 0.93 m @ 10.8 g/t Au, 1,895 g/t Ag; 1.12 m @ 9.4 g/t Au, 1,910 g/t Ag; 4.2 m @ 14.1 g/t Au, 225 g/t Ag and 2 m @ 14.2 g/t Au, 293 g/t Ag. Approximately 4 km of underground workings have been accessed with an additional 7.5 km to be opened and explored over the next several months.
  • Mag Silver Corp. reported the confirmation and extension of wide high-grade mineralization from the Deep Zone discovery on the Minera Juanicipio JV property (Fresnillo plc 56%; MAG 44%) previously announced. “Mineralization is traceable over a strike length exceeding 800 metres and to a depth of 200 to 300 metres beneath the current resource estimate. Mineralization widths range from approximately 5 metres to over 29 metres…”. On the East Vein the best intercept is 29.85m true width (TW) @235 g/t Ag, 0.5 g/t Au, 4.76% Pb, 5.79% Zn and 2.38% Cu; on the West Vein the best new hole cut 22.9 m TW @ @119 g/t Ag, 1.1 g/t Au, 4.2% Pb, 11.9% Zn and 0.27% Cu. The drilling also discovered the Anticipada Vein, which has been cut in five holes, of up to 6.68 m TW @ 105 g/t Ag, 2.69 g/t Au, 3.59% Pb, 10.79% Zn and 0.23% Cu. Five rigs on the surface and one underground continue with the drilling program. The impressive Fresnillo district continues to deliver extraordinary drill results.
  • Prospero Silver Corp. announced more exploration to follow at its projects Petate (Hidalgo), Pachuca Southeast (Hidalgo), Matorral (Durango), Bermudez (Chihuahua) and San Luis del Cordero (Durango).
  • Evrim Resources Corp. released exploration results from its Cerro Cascaron property in Chihuahua. Channel sample results include 2.6 m @ 6 g/t Au, 28 g/t Ag; 4.3 m @2.2 g/t Au, 11 g/t Ag and grab samples @ 982 g/t Ag at La Cascarita and up to 9.2 g/t Au and up to 599 g/t Ag at Divisadero.
  • Almadex Minerals Ltd. reports a second mineralized interval on the same hole that saw a shallower interval reported last week, on its El Cobre property North Zone, in Veracruz. This week release includes a 150.9 m interval at 0.55 g/t Au and 0.22% Cu (including 62 m @ 0.86 g/t Au, 0.33% Cu), which adds to the previous release of 163.5m @ 0.68 g/t Au and 0.29% Cu. The deeper interval released ends at 542.7 m, but porphyry style alteration continues to the end of the hole, currently at ~890 m depth and advancing.
  • Sierra Metals Inc. provided an exploration update on its Bolivar and Cusi properties in Chihuahua. Bolivar is currently producing at 3,000 tpd, and has four mineralized zones: El Gallo, Bolivar NW, West Bolivar and La Sidra Vein. Mineralization is hosted in breccias, replacement deposits, skarns and an epithermal vein. Cusi is producing at a 600 tpd rate, and reports four key brownfield areas: San Nicolas Vein, San Ignacio Vein, Moctezuma Vein and the San Antonio Vein. The veins are epithermal, galena, sphalerite and chalcopyrite bearing (intermediate sulfidation), can be up to 1,300 m in length and up to 3 m in thickness.
  • Excellon Resources Inc. has initiated a 25,000 m drilling campaign at its Platosa mine in Durango, with focus in targets near mine infrastructure, near-surface manto exploration and carbonate replacement deposits. The Platosa Mine exploits a series of very high-grade, closely-spaced, CRD silver, lead, zinc manto deposits. Work is underway on compilation and reinterpretation of a large portion of the company’s geophysical data, particularly the gravity, airborne magnetics and ZTEM airborne survey previously completed.
  • Minera Alamos Inc. staked 5,200 has surrounding its La Fortuna property in Durango. The ground had come recently open for staking, and the company took advantage of the opportunity to get the ground, increasing its land holdings to 6,200 has. Besides the Main Zone, the company now has the Los Cajones zone, the Ramada zone and the PN zone, which host gold mineralization in structures that are up to 1,500 m in length and have assays as high as 10.1 g/t Au and up to 400 g/t Ag.

ON MINING

  • Sierra Metals Inc. reported financial results for the second quarter 2016, with 52.2 K tonnes mined @ 197 g/t Ag, 1.55% Pb and 2.61 % Zn and 0.25 g/t Au at the Cusi mine in Chihuahua, producing also the first zinc concentrate. Mine development at Bolivar, Chihuahua totaled 2,733 m, and 2,402 m at Cusi. Cusi’s cash cost per AgEq ounce was $10.63 and AISC per AgEq ounce was $18.49. At Bolivar, cash cost per CuEq pound was $1.25 and AISC per CuEq pound was $2.41. Cash and cash equivalents stood at $20.6 M, restricted cash of $4.7 M, and working capital of $7.9 M.
  • Mag Silver Corp. presented its financial results for the second quarter 2016, with working capital of $141.29 M, including cash and term deposits of $140.85 M. The company expended cash to fund advances on its Juanicipio´s property JV with Fresnillo PLC , which combined with MAG’s Juanicipio expenditures totaled $2.1 and $5.1 M.
  • Mexus Gold US. has completed the installation of liners on the leach pad at its Santa Elena mine in Sonora.
  • Avino Silver & Gold Mines Ltd. presented the financial results for 2016 second quarter, period in which the Avino mine was commissioned, milling 131.6 K tonnes to produce 380.6 K Oz Ag, 1.5 K Oz Au and 1.05 M pounds Cu, at cash cost US$9.89 per AgEq ounce and all-in sustaining cost of US$11.27 per AgEq ounce. Cash and cash equivalents stood at $10.7 M at the end of the quarter (Avino and San Gonzalo mines, Durango).
  • Cyprium Mining Corp. announced it has begun mining mineralized back fill material from the Santo Domingo ore shoot at its El Potosi mine in the Santa Eulalia district in Chihuahua, and is awaiting the explosives permit to begin blasting. A technical report was submitted to SEDAR.
  •  Mexico. Produced 786 K tons of zinc in 2015, of which 176 K tons were produced by Goldcorp’s Peñasquito mine in Zacatecas, while Peñoles owned Velardeña (Durango) produced 80 K tonnes, Francisco I Madero (Zacatecas) 42 K tonnes, Bismark (Chihuahua) 41 K tonnes, Tizapa (Mexico State) 41 K tonnes. Grupo Mexico’s Santa Barbara (Chihuahua) produced 32 K tonnes, Frisco’s Asientos (Aguascalientes) 30 K tonnes, Grupo Mexico’s Charcas (San Luis Potosi) 26 K tonnes, Carrizal Mining’s Zimapan (Hidalgo) 24 k tonnes and Frisco’s San Francisco del Oro (Chihuahua) 22 k tonnes.
  • Goldgroup Mining Inc. mined 174.8 K tonnes of ore @ 1.34 g/t Au at its Cerro Prieto mine in Sonora during the second quarter 2016, moved 1.17 M tonnes of waste, placed 196 K tonnes of ore at the leach pad @ 1.26 g/t to produce 4,270 Oz Au during the quarter, at a recovery rate of 58%, and all-in cash cost of $1,182. The company aims to reduce the all-in cost to $900 per gold ounce for the year.

ON FINANCING

  • Candente Gold Corp. closed its previously announced private non-brokered financing, for total gross proceeds of $500 K (El Oro, Mexico State).
  • NSX Silver Inc. closed a non-brokered private placement to raise $300 K (had Oso Blanco, Sonora).

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, prospector Miguel Ayala in the Moreno workings, Tenoriba project, San Juan Nepomuceno, Chihuahuhua.

DSCN6310

Mineras foráneas ven de nuevo hacia México

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http://eleconomista.com.mx/industrias/2016/08/19/mineras-foraneas-ven-nuevo-hacia-mexico

México captó 491 millones de dólares de Inversión Extranjera Directa (IED) en el sector de la minería durante el primer semestre del 2016, reflejo de la reactivación del interés de empresas extranjeras, luego de que registrara salidas por 21 millones de dólares en todo el 2015, informó la Secretaría de Economía.

Más inversión minera

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http://www.dossierpolitico.com/vercolumnas.php?artid=178186&relacion=dossierpolitico&categoria=292

México.- Sigue la lluvia de datos favorables para Sonora y su economía, y es que los distintos sectores que componen nuestro aparato productivo se mantienen dinámicos.

Juzgue usted sí no, escondido entre una maraña de datos financieros venía el anuncio de que la empresa Peñoles, a través de su subsidiaria Fresnillo, invertirá 240 millones de dólares en una nueva mina en Sonora, misma que se enfocará también a la producción de oro en el municipio de Caborca.

El proyecto minero en sí mismo es todo un hito en la actividad de ese sector, que se viene a sumar a otras 3 operaciones que tiene Peñoles en la entidad, llamadas La Herradura, Soledad Dipolos y Noche Buena. La nueva mina se llama Centauro Profundo y tiene la peculiaridad de que es una mina no a cielo abierto, sino en la modalidad de túneles, algo cada vez menos frecuente en la actividad extractiva de Sonora.

Minera Alamos Completes Six-Fold Increase in Concession Area Surrounding the La Fortuna Gold Project

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1547-tsx-venture/mai/23661-minera-alamos-completes-six-fold-increase-in-concession-area-surrounding-the-la-fortuna-gold-project.html

TORONTO, ONTARIO–(Marketwired – Aug. 18, 2016) – Minera Alamos Inc. (TSX VENTURE:MAI) (the “Company” or “Minera Alamos“) is pleased to announce it has acquired more than 5200 hectares in additional mineral concessions surrounding the La Fortuna gold project in Durango Mexico. The new claims were acquired directly from the federal mining authorities in Mexico (Dirección General de Minas) with no payments to any other third parties. The Company’s total land package now sits at over 6200 hectares.

“The fault structures and tourmaline breccias throughout the La Fortuna Project area have been the source of significant historical mining activity. To date only a limited portion of the La Fortuna Main Zone has been drilled to produce the current NI 43-101 compliant resource,” said Miguel Cardona, Vice President, Exploration at Minera Alamos. “This opportunity to increase our land holdings so substantially provides considerable upside for resource growth as the project continues to advance. We are now reworking our planning to include the newly acquired property in our upcoming exploration program”.

SilverCrest Reports More High Grade Underground Sampling Results at Las Chispas; Multiple Sample Results Greater than 2,500 gpt AgEq*

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http://silvercrestmetals.com/news/index.php?&content_id=293

VANCOUVER, BC – August 18, 2016 – SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce an update on the underground rehabilitation program with additional assay results from underground channel sampling at its Las Chispas Project (“Las Chispas”) located in Sonora, Mexico. Las Chispas is in a historic silver-gold mining district which presently hosts two nearby precious metal producers. Historic information indicates that only three veins of the fourteen historically reported veins at Las Chispas have had documented production, which occurred between 1880 and 1930. SilverCrest’s initial focus is on these three veins; the Las Chispas, William Tell and Babicanora. This news release reports on the sampling assay results of the William Tell vein.

México, entre los 8 principales productores de oro del mundo

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http://sipse.com/mexico/produccion-oro-mexico-proyectos-mineria-218009.html

CIUDAD DE MÉXICO.- De los 14 proyectos para la producción de oro en el país previstos hacia 2021, con una inversión estimada de mil 900 millones de dólares en total, este año se comenzarán cinco, con un desembolso superior a mil 425 millones de dólares, informó la Cámara Minera de México.

Se trata de los proyectos de San Julián, de la minera Fresnillo, en Chihuahua, con una inversión de 515 millones de dólares; el de San José, de Fortuna Silver, en Oaxaca, con 62 millones de dólares; Santa Gertrudis, de Gogold Resources, en Sonora, con 48 millones de dólares; Independencia y Guadalupe, de la empresa Coeur Mining, en Chihuahua, y El Limón-Los Guajes, de Torex Gold, en Guerrero, cuya inversión fue de 800 millones de dólares.