During the first week of September, at least 19 press releases were published by companies working in Mexico.  ON MEXICO NUMBERS, Six companies produced 69% of the silver in Mexico in 2015. Mexico accounted for 80% of the primary lead production of Latin America in 2015. ON EXPLORATION, In Sonora, one company released drilling results; another one started a drilling program and one more mobilized a second drill rig. In Durango a company started a soil sampling program, in Nayarit three holes have been completed and waiting for results, while in Zacatecas a company is waiting for the permit to begin drill pad construction. ON MINING, US Antimony is waiting for the environmental permit for a cyanide plant. Mexus Gold continues with the crushing of the leach pad filter. Corex Gold has received the environmental permit and has begun leach pad construction. Pan American Silver updated on the expansions of its mines in Chihuahua and Zacatecas.  ON FINANCING, Two companies announced non-brokered private financing rounds for gross proceeds of $3.6 M, and one company announced a ten to one consolidation of shares. ON DEALS AND CORPORATE ISSUES, Santacruz Mining acquired the right to work for 15 years the Cinco Minas mine in San Luis Potosi, Source Exploration extended an option payment on three concessions at its Las Minas property in Veracruz, and Goldcorp hired Bank of Nova Scotia to manage the sale of its Los Filos mine in Guerrero.

MEXICO NUMBERS

• Fresnillo PLC produced 24% of the silver in the country during 2015, Goldcorp 14%, Pan American Silver 7%, First Majestic 7%, Peñoles 7%, Frisco 5% and Grupo Mexico 5%. Silver production was 191.5 million ounces, 3.3% less than in 2014.
• Peñoles produced 100% of the Mexican production of primary lead at its Torreon refinery in Coahuila, and about 80% of Latin American production. Primary lead production represents 35% of lead production in Mexico, with 65% produced by recycling of scrap lead. In 2015 total production amounted to 212,900 tonnes, 8.2% higher than the prior year, and representing about 3% of world production.

ON EXPLORATION

• Southern Silver Exploration is to start a new soil sampling program at its Cerro Las Minitas property in Durango. The work adds to previous geochemical and geophysical work by southern, and aims to produce drilling targets on a zone 4 km SW of the areas with defined resources.
• Millrock Resources Inc. announced it has initiated, along Centerra Gold Inc. partner, a drilling program at its Los Chinos gold project in Sonora. The drilling program is planned to consist of at least ten holes totaling approximately 2,000 meters, and will test the El Camino zone, where anomalous gold, lead and arsenic has been sampled on an area 700 m long and up to 500 m wide, coupled with soil and geophysical anomalies.
• Defiance Silver Corp. is expecting the issuing of the environmental permit, which was applied for in mid-July. Once granted, the company will be able to build 39 drill pads that will allow for the drilling below of the Guadalupe and Esperanza shoots, and on the extension to the Veta Grande system in Zacatecas.
• SilverCrest Metals Inc. announced additional drill hole results from the William Tell vein within its Las Chispas project in Sonora. The drilling defines a new area some 300 m long, still open on strike and at depth with >400 g/t AgEq over estimated true widths (TW) of 0.8 to 1.5 meters. Results include (TW) 1.5 m @ 2 g/t Au, 683 g/t Ag; 0.9 m @ 2.4 g/t Au, 229 g/t Ag; 3.2 m @ 1.1 g/t Au, 141 g/t Ag and 1.3 m @ 1.9 g/t Au, 352 g/t Ag. Two newly identified veins adjacent to the William Tell vein run 0.8 m @ 4.8 g/t Au, 364 g/t Ag and 0.9 m @ 6.5 g/t Au, 395 g/t Ag.
• Gainey Capital Corp. announced that the first three holes at its El Colomo property in Nayarit have been completed on the La Nueva Victoria zone, and the samples of the first hole sent for assaying. The drilling continues on the La Higuerita/El Arrayan zones.
• Oceanus Resources Corp. has mobilized a second drill rig to its El Tigre property in Sonora.

ON MINING

• US Antimony Corp. announced the environmental permit for the cyanide leach plant at the Puerto Blanco mill site in Guanajuato is being reviewed by SEMERNAT, expecting an initial response by mid-September. When the permit is issued, the facility will recover gold and silver from the tailings of the flotation mill. The Company has an inventory of Los Juarez concentrates from the flotation tests.
• Mexus Gold US. continues with the crushing of the heap leach pad filter material, which should be completed soon, at its Santa Elena mine in Sonora. After some delays due to heavy rains at the site, the company expects to start production in October.
• Corex Gold Corp. has received the final permit required for the heap leach gold operations at its Santana project in Sonora. Heavy equipment was mobilized and begun ground preparation and construction of its initial heap leach pad that will allow for the pilot testing of the Santana deposit.
• Pan American Silver Corp. has commissioned a 618 m deep shaft at its La Colorada mine in Zacatecas, with zero lost-time accidents in its construction. The work remaining to complete includes a new filter plant, power line and underground development. At Dolores mine in Chihuahua, a new 98 kilometer, 115 KV power line connects the mine to the national power grid. The La Colorada expansion project commenced in 2014 at an estimated cost of $163.8M, and the Dolores expansion has an estimated investment of $112.4, both projects to be completed by the end of 2017.

ON FINANCING

• Source Exploration Corp. announces its intention to proceed with a consolidation of its issued and outstanding common shares on the basis of one (1) post-consolidation Common Share for every ten (10) pre-consolidation Common Shares (Las Minas, Veracruz).
• Wealth Minerals Ltd. arranged a non-brokered private placement for gross proceeds of up to $2.17 M (Coronado and Valsequillo, Chihuahuha).
• Oceanus Resources Corp. announced a non-brokered private placement for $1.5 M (El Tigre, Sonora).

ON DEALS AND CORPORATE ISSUES

• Santacruz Silver Mining Ltd. acquired the right to explore, develop and mine the Cinco Estrellas gold-silver mine in San Luis Potosi for the next 15 years. The company plans to soon begin mining and send the mineralized material to the company’s Rosario mine milling facility, which is in close proximity to Cinco Estrellas.
• Source Exploration Corp. has signed a letter of intent (LOI) to extend the Pepe, Pepe Tres and San Jose concessions (at its Las Minas property, Veracruz) purchase agreement. The LOI provides for an extension to the term of the option agreement by an additional one year to December 2017.
• Goldcorp Inc. has hired Bank of Nova Scotia to lead the sales process of Los Filos mine, in Guerrero. Its net asset value was estimated at $617 M in an August RBC Capital Markets report.

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, felsic tuffs near Villa de Reyes, San Luis Potosi.