Month: December 2016

Excellon Strengthens Board with New Appoinments

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http://www.excellonresources.com/index.php/investors/news/2016/189-excellon-strengthens-board-with-new-appointments

Toronto, Ontario – December 20, 2016 – Excellon Resources Inc. (TSX:EXN and EXN.WT; OTC:EXLLF) (“Excellon” or the “Company”), Mexico’s highest grade silver producer, is pleased to announce the appointment of Ms. Daniella Dimitrov and Dr. Laurence (Laurie) Curtis to its Board of Directors.

“We are extremely pleased to welcome Daniella and Laurie to the Board,” stated André Fortier, Chairman. “Both have had tremendously successful careers, and their diverse leadership experience and capital markets backgrounds will be invaluable as we continue the corporate development of Excellon.”

Arian Silver – Two Major Vein Systems Identified at Los Campos Project

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http://www.ariansilver.com/news/exploration-of-los-campos-project

Arian Silver Corporation (“Arian Silver” or the “Company”) is pleased to report evidence of the presence of two major vein systems on its wholly-owned Los Campos project, following the completion of the work programme to advance targeted exploration as initially announced on 27 October 2016.

Jim Williams, Chief Executive Officer of Arian commented: “We are pleased that our preliminary exploration work has identified several high-quality targets at Los Campos, where evidence of the presence of two major vein systems has been identified. The Board is confident its exploration properties have the potential to host significant mineralisation.

Our development plan for the Los Campos project involves rehabilitating a number of the mine shafts to allow the Company to survey, map and sample the underground workings, which will aid the identification of high quality targets for future drilling. I look forward to providing our shareholders with further updates in due course.”

Plomosas, Chihuahua_Initial JORC Resource Confirms High Grades for Zinc, Lead

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Click to access 201116-Initial-JORC-Resource-Confirms-High-Grades.pdf

The release of Consolidated Zinc’s maiden Mineral Resource last week has confirmed the company is on course towards future production plans. The resource estimate reported an indicated and inferred resource of 568,000 tonnes at 16.9 per cent combined zinc and lead. The high grades and relative ease of access from within the existing mine infrastructure indicate a relatively short timeline to production once sufficient additional tonnes are identified. The estimate, independently completed by Runge Pincock Minarco Limited (RPM) in accordance with the JORC (2012) reporting guidelines, also reported 28.4g/t silver, with 96,000t of contained Zn + Pb metal in both Indicated and Inferred categories. The Mineral Resource comes from the extensions both down dip and down plunge from the existing mine development and also includes the 2015 discovery of mineralisation at Tres Amigos.

Silver Spruce Receives Positive Geochemical Results and Provides Reconnaissance Field Work Results for Encino De Oro Project

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http://www.stockhouse.com/news/press-releases/2016/12/19/silver-spruce-receives-positive-geochemical-results-and-provides-reconnaissance

BRIDGEWATER, NOVA SCOTIA–(Marketwired – Dec. 19, 2016) – Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) (TSX VENTURE:SSE)(FRANKFURT:S6Q) is pleased to provide the latest results from its ongoing reconnaissance and sampling program at its recently acquired Encino De Oro project near Chinipas, Chihuahua, in Mexico. The field crew was led by Leonard J. Karr, CPG, and a third party Qualified Person for Silver Spruce.

To date, a total of 42 chip channel and grab samples have been taken from outcrop, subcrop and float over an area of 3 square kilometres at the Encino De Oro project. Assays of these samples range from a less than detectable to as much as 8 grams per tonne (“g/t”) gold (Au), and 77 g/t silver (Ag), with anomalous values of copper (Cu), lead (Pb), zinc (Zn), arsenic (As) and antimony (Sb).

 

Bacanora Announces Off-Take Negotiations and Project Update

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http://www.stockhouse.com/news/press-releases/2016/12/19/bacanora-announces-off-take-negotiations-and-project-update

CALGARY, ALBERTA–(Marketwired – Dec. 19, 2016) – BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (TSX VENTURE:BCN)(AIM:BCN), the Canadian and London listed company focused on developing the Sonora Lithium Project (‘Sonora’ or ‘the Project’) in Mexico into a world class lithium carbonate operation, announces that it is continuing to develop a long term marketing relationship and off-take strategy and is now in advanced discussions with a significant Asian offtake partner for the supply of battery grade lithium carbonate (Li2CO3).

Agnico Eagle Announces Investment in Cartier Resources Inc.

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http://www.stockhouse.com/news/press-releases/2016/12/19/agnico-eagle-announces-investment-in-cartier-resources-inc

TORONTO, Dec. 19, 2016 /CNW/ – Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) (“Agnico Eagle”) announced today that it has agreed to purchase 22,500,000 common shares of Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) in a non-brokered private placement at a price of $0.20 per share for total consideration of $4,500,000.

On closing of the transaction, Agnico Eagle will own 22,500,000 common shares of Cartier, representing approximately 19.97% of the issued and outstanding common shares of Cartier on a non-diluted basis (after giving effect to the transaction, but otherwise assuming that the number of issued and outstanding common shares of Cartier as at the date hereof remains unchanged).  Closing of the transaction is expected to occur on or about December 22, 2016 and is subject to certain conditions.

In connection with the closing of the transaction, Agnico Eagle and Cartier will enter into an investor rights agreement (the “Investor Rights Agreement”) pursuant to which Agnico Eagle will (i) have the right to participate in certain equity financings by Cartier in order to maintain its 19.97% interest in Cartier, and (ii) have the right (which it has no present intention to exercise) to nominate one person (and in the case of an increase in the size of the board of directors of Cartier to 10 or more directors, two persons) to the board of directors of Cartier.  Under the Investor Rights Agreement, Agnico Eagle will be subject to a two-year standstill which will prohibit Agnico Eagle from taking certain actions, including acquiring more than 19.99% of the issued and outstanding common shares of Cartier, subject to certain exceptions.

 

New Gold Announces Senior Management Changes

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http://www.newgold.com/investors/NewGoldNews/PressReleaseDetail/2016/New-Gold-Announces-Senior-Management-Changes/default.aspx

TORONTO, Dec. 19, 2016 /CNW/ – New Gold Inc. (“New Gold”) (TSX:NGD) (NYSE MKT:NGD) is pleased to announce that Hannes Portmann has been named President of New Gold. Randall Oliphant will continue in his role of Executive Chairman and Brian Penny will continue as Executive Vice President and Chief Financial Officer. David Schummer, Executive Vice President and Chief Operating Officer, is leaving New Gold and Raymond Threlkeld, currently a member of the company’s Board of Directors, will become Interim Chief Operating Officer.

Kootenay Announces 7 Drill Holes Completed on Soledad Structure Ground Reconnaissance Program Identifies New Gold Target

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http://www.kootenaysilver.com/news/kootenay/2016/kootenay-announces-7-drill-holes-completed-on-soledad-structure-ground-reconnaissance-program-identifies-new-gold-target

Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) announces it has completed 7 holes along the Soledad Structure before the Christmas break. Drilling will recommence in January and results will be reported when received and compiled. This is the 18th hole of the current program with 11 of these holes drilled in to the Ram structure resulting in a new drill discovery. (See news release November 23, 2016)

Concurrent with the drill program, ongoing ground exploration has identified a new large gold target that is associated with a contact skarn zone representing a potentially significant gold target. The Company believes the newly identified zone, which trends east-west for up to 1000 meters, may be the extension of the Navidad target that includes an untested silver-lead anomaly approximately 500 meters east of the La Cigarra deposit.

Arian Silver_ Extension of Exclusive Option

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http://www.ariansilver.com/news/extension-of-exclusive-option

Arian Silver Corporation (the “Company”) is pleased to announce that further to the Company’s press release dated 27 October 2016 regarding the extension of the exclusivity agreement with Tierra Nuevo Mining Ltd (“TNM”) over the Noche Buena gold and silver tailings project in Mexico, the period of exclusivity has been extended by a further 60 days to 25 February 2017 at no additional cost whilst the final results of metallurgical testwork are awaited.

Mexus Gold US (MXSG: OTCQB) | Mexus Santa Elena progress report

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http://satprnews.com/2016/12/19/mexus-gold-us-mxsg-otcqb-mexus-santa-elena-progress-report/

CARSON CITY, Nev., Dec. 19, 2016 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) CEO/ President Paul Thompson visited the Santa Elena mine in Sonora State Mexico from December 13th through the 17th.   Mr. Thompson reports that the Merrill Crowe is being installed and will be operational in January 2017.

In addition, the company announced that fresh ore is being crushed and stacked on the pads.   The mine site is currently using Mexus’ 1236 jaw crusher and impacting system.  It was recently determined that this system will not meet the production goals for the mine.   Mexus JV partner, MarMar Holdings, made the decision to increase production by installing a 42” jaw crushing system.   This crusher should be in place shortly and will be added to Mexus’ 54” closed cone screen plant to increase the overall output.