During the third week of November, at least 14 press releases were published by companies working in Mexico, including several quarterly financial reports. ON EXPLORATION, high-grade drilling results were released for a low sulfidation epithermal property in Sonora, and coincident soil and geophysical anomalies for an orogenic gold style property on the same state. A new drilling campaign is to commence in a project in Coahuila, looking for the feeders of known mineralization. In Chihuahua, high grade drilling results were released on a Pb-Zn Ag property. ON MINING, three companies reported third quarter results, with operations in Sonora, Chihuahua and Sinaloa, and a company with a property in Chihuahua released its results for the last six months. Mexico now boasts the third largest copper producing mine in the world. ON FINANCING, one company raised C$10 M, and one other completed an ATM equity offering to gather $200 M. ON RESOURCES, a resource estimation was completed for a silver property in Zacatecas. ON DEALS AND CORPORATE ISSUES, A company received a favorable ruling from the local agrarian court, and one other sold a zinc-lead-germanium property in Chihuahua.

ON EXPLORATION

• SilverCrest Metals Inc. released high grade results from two more veins at Las Chispas property in Sonora. The new assays come from the rehabilitation and exploration of underground workings in the Varela mine, approximately 300 m west from the William Tell vein. To date 7 km of workings have been rehabilitated, pending 4.5 km more to complete. Composite assays along vein include 0.53 m @ 3 g/t Au, 47 g/t Ag over 6.5 m strike length; 0.69 m @ 1.2 g/t Au, 114 g/t Ag over 10 m strike length; 0.88 m @ 4.8 g/t Au, 147 g/t Ag and 1.10 m @ 3.1 g/t Au; 223 g/t Ag. Individual sample assays are as high as 0.30 m @ 40.9 g/t Au, 610 g/t Ag; 1.60 m @ 8.6 g/t Au, 307 g/t Ag; 0.97 m @ 4.6 g/t Au; 1,074 g/t Ag and 1.31 m @ 8.6 g/t Au, 556 g/t Ag.
• Silver Bull Resources Inc. commenced an initial 3,000 m drill program at its Sierra Mojada project in Coahuila. The program is targeting source structures for the main zone of mineralization already defined. Previous drillholes have intercepted up to 8.4 m @ 20% Pb+Zn on high angle structures. During August and September a 590 line Km airborne magnetic survey was completed over the main deposit, targeting structures at depth, and more than 20,000 m of core was re-logged.
• Riverside Resources Inc. reported the definition of a gold soil anomaly and the mapping of a zone of hydrothermally altered rocks that is more than 2 km in length. An induced polarization (IP) survey produced a chargeability anomaly that closely matches the soil anomaly. The soil sampling survey, which contains 926 samples, and a 136 line Km ground magnetic survey have been completed. The coincident surveys covered an area of 14.2 km² with survey lines spaced 200 meters apart. The company doing the IP study to date has surveyed 31.7 line Km.
• Consolidated Zinc Ltd. continues with underground drilling for resource definition, with high grade intercepts like: 2.94 true width (TW) @ 13.4% Zn, 7.2% Pb, 26 g/t Ag; 0.71 m @ 36.1% Zn, 11.7% Pb, 40 g/t Ag 0.89 m @ 45.8% Zn, 4% Pb, 38 g/t Ag; 0.72 m @ 33.3% Zn, 19.5 % Pb, 89 g/t Ag; 0.40 m @ 13.% Zn, 38% Pb, 820 g/t Ag.

ON MINING

• Premier Gold Mines Ltd. presented its operating results for the third quarter 2016, period during which completed the acquisition of the Mercedes mine in Sonora. The Mercedes mine produced 7,548 Oz Au and 34,888 Oz Ag during the month of October, with all-in sustaining costs of US$725 Oz Au and US$10.56 Oz Ag. Cash and cash equivalents of $42.1 M at the end of the period.
• Sierra Metals Inc. reported production results for the third quarter 2016, including numbers from its operations in Mexico. At Cusi in Chihuahua, 57.1 K tonnes of ore were mined @ 184 g/t Ag, 1.6% Pb, 1.6% Zn and 0.14 g/t Au. Cash cost was $9.67 per AgEq Oz and AISC per AgEq Oz was$19.22. At the Bolivar mine, also in Chihuahua, cash cost per CuEq pound was $0.94, and AISC was $1.90 per CuEq pound. Cash and cash equivalents stood at $27.1 M at the end of the period.
• Americas Silver Corp. presented financial and operational results for the third quarter 2016, including numbers from its Cosalá operations in Sinaloa. The San Rafael project at Cosalá begun construction during Octber, aiming to start mining ore in Q2, 2017, and commercial production on Q3, 2017. It is expected to have an initial capital investment of $20 M, and deliver annual production of 1 M Oz Ag, 50 M Lb Zn, 20 M Lb Pb over an initial 6 year mine life at negative AISC based on current reserves. Cash balance at the end of the period of $26.6 M, and working capital of $28 M.
• GoGold Resource Inc. produced 127.2 K Oz Ag at its Parral tailings operations during October. The heap height has been adjusted, the strength of the cyanide solution increased, air added to the irrigated solution and recycling of the cyanide commissioned to improve the speed of recovery.
• Grupo Mexico. Announced that its Buenavista del Cobre mine will produce 460 K tonnes metallic copper in 2016, becoming the third largest copper producing mine in the world.
• War Eagle Mining Co. released its financial results for the six months ended on September 30^th, 2016. At the end of the period the working capital was $2 M (Terrazas project, Chihuahua).

ON FINANCING

• SilverCrest Mining Inc. entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc. for a bought deal to gather C$10 M (Las Chispas, Sonora).
• Coeur Mining Inc. completed its previously announced at the market (“ATM”) common equity offering program for gross proceeds of $200 M (Palmarejo, Chihuahua).

ON RESOURCES

• Santacruz Silver Mining Ltd. released the resource estimation for the Panuco deposit, at its Veta Grande project in Zacatecas. 16.34 M Oz Ag were estimated in 2.26 M tonnes of ore @ 181 g/t Ag, 0.17 g/t Au, 0.02% Pb, 0.04% Zn. The sampling from 75 drillholes totaling 23,444 m was used in the estimation, as well as 1,869 chip samples from 183 trenches. Three veins over a strike length of 2.4 Km were included in the inferred resource estimate.

ON DEALS AND CORPORATE ISSUES

• Excellon Resources Inc. announced that received a favorable ruling by the Tribunal Agrario del Distrito Sexto in Torreón, Coahuila, on a legal dispute regarding surface access to the surface area of La Platosa mine in Durango. “We continue to make meaningful cooperative investments in our local community of Bermejillo and look forward to re-engaging with the Ejido La Sierrita on fair and transparent terms in due course.”
• War Eagle Mining Company Inc. sold the Tres Marias zinc-lead-germanium project in Chihuahua, to Contratista and Operaciones Mineras SA de CV for $1.7 M.

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, low temperature epithermal quartz vein float found while prospecting in the Trans Mexican Volcanic Belt in Zacatecas.