Month: December 2016

Red Tiger Provides Operational Update

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http://www.stockwatch.com/News/Item.aspx?bid=U-thNaN-U:RDTMF-20161215&symbol=RDTMF&region=U

Toronto, Ontario / TheNewswire / December 15, 2016 – Red Tiger Mining Inc. (TSXV: RMN) ( “Red Tiger” or the “Company” ) announces that it has ceased mining operations at Luz del Cobre copper mine. The Company has made this decision after completing an infill drilling program designed to better delineate the oxide-sulphide copper boundary in North and South pits.

The company had been nearing the end of its original mine plan, and was experiencing lower than expected copper recoveries. The results of the drill program demonstrated continued copper mineralization; however, the portion of acid soluble copper above cutoff remaining within the pit limits appears to be insufficient to continue the mining operation given the current recoveries being realized. The Company is investigating this further to fully understand the situation and to see what actions, if any, might be taken.

Starcore Reports Q2 2017 Results

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https://www.starcore.com/news/news-releases/starcore-reports-q2-2017-results

Vancouver, B.C. – Starcore International Mines Ltd. (the “Company”) has filed the results for the quarter ended October 31, 2016 for the Company and its mining operations. The full version of the Company’s Financial Statements and Management’s Discussion and Analysis can be viewed on the Company’s website at www.starcore.com, or SEDAR at www.sedar.com. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of Canadian dollars unless otherwise indicated.

Financial Highlights for quarter ended October 31, 2016:

  • Cash and short-term investments on hand is $8 million at October 31, 2016 compared to $10 million at April 30, 2016;
  • Gold and silver sales of $7.1 million for the three months ended October 31, 2016 compared to $7.7 million for the three months ended October 31, 2015, a decrease of 8%;
  • Earnings from mining operations of $1.2 million for the three months ended October 31, 2016 compared to earnings of $1.1 million for the three months ended October 31, 2015;
  • EBITDA(1) of $3,445 for the six months ended October 31, 2016 compared to $2,589 for the six months ended October 31, 2015.

Almadex Hits 268.50 Meters of 0.20% Copper and 0.46 G/T Gold Within 497.00 Meters of 0.16% Copper and 0.33 G/T Gold in Hole EC-16-16 at the Norte Zone and Provides Further El Cobre Project Overview and Target Discussion

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https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1744-tsx-venture/amz/27679-almadex-hits-268-50-meters-of-0-20-copper-and-0-46-g-t-gold-within-497-00-meters-of-0-16-copper-and-0-33-g-t-gold-in-hole-ec-16-16-at-the-norte-zone-and-provides-further-el-cobre-project-overview-and-target-discussion.html

VANCOUVER, BC–(Marketwired – December 15, 2016) – Almadex Minerals Limited (“Almadex” or the “Company”) (TSX VENTURE: AMZ) (OTCQB: AXDDF) is pleased to announce it has received partial results (to 502.00 meters depth) from hole EC-16-16, drilled from the same pad as the previously announced holes EC-16-10, 12 and 13, but at an azimuth of 200 degrees and a dip of -55. Hole EC-16-16 intersected significant mineralisation from the collar, similar to that announced previously in the Norte Zone. Hole EC-16-14 was also collared from this pad but was drilled to the north at an azimuth of 0 degrees and a dip of -80 degrees. This hole, like the previously announced hole EC-16-013, intersected considerably less stockwork veining and corresponding mineralisation. Together these two new holes reported today further support the interpretation that the Norte drilling to date has intersected shallow dipping to flat lying mineralisation with significant gold values, that represents a distal and high level portion of a porphyry system.

Minera Alamos Engages CSA Global Canada Geosciences Ltd. To Complete PEA on La Fortuna Gold Project

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https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1547-tsx-venture/mai/27666-minera-alamos-engages-csa-global-canada-geosciences-ltd-to-complete-pea-on-la-fortuna-gold-project.html

Minera Alamos Inc. (TSX.V: MAI) (the “Company” or “Minera Alamos”) is pleased to announce that it has engaged CSA Global Canada Geosciences Ltd. (“CSA Global”) to undertake a Preliminary Economic Assessment of the La Fortuna gold project located in the State of Durango, Mexico and prepare a technical report for the project in accordance with National Instrument 43-101 (the “PEA”).

CSA Global will be working with Minera Alamos to review, and utilize where practical, the analysis and assessments completed by the Company over the past eight months. A preliminary review of this work has now been completed by CSA Global with a schedule to release the PEA near the end of January 2017.

Preliminary Metallurgical Results Received for the Boleras Main Zone at the Sandra Escobar Project in Durango, Mexico

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Click to access article_12152016092451.pdf

Vancouver, BC – Orex Minerals Inc. – (TSX-V: REX) (“Orex”), has received preliminary metallurgical test results for samples from the Main Zone of the Boleras Silver Deposit at the Sandra Escobar Project in Durango, Mexico. This project is being advanced by Orex under an option agreement with Canasil Resources Inc. – (TSX.V: CLZ) (“Canasil”). Results are now available for five samples, with increasing head grades, taken from across the Main Zone of the Boleras Silver Deposit. These results illustrate that recovery is grade dependent. A portion of the silver-bearing mineralogy is recoverable with leaching techniques, including hydrochloric acid (HCl), or sulphur dioxide (SO2) pre-treatment before cyanidation, and a portion is refractory, requiring more investigation. An extra high-grade sixth sample was also prepared for mineralogical work and was tested by the same methods at the Kemetco Research Inc. (“KR”) laboratory.

SilverCrest Over‑Allotment Option Exercised in Full

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http://www.stockhouse.com/news/press-releases/2016/12/14/silvercrest-over-allotment-option-exercised-in-full

VANCOUVER, Dec. 14, 2016 /CNW/ – SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce that, in connection with its completed offering of 4,550,000 units of the Company (“Units”) at a price of C$2.20 per Unit (the “Issue Price”) for gross proceeds of C$10,010,000 on December 6, 2016, the over-allotment option granted to National Bank Financial Inc., PI Financial Corp. and Canaccord Genuity Corp., as underwriters, to purchase up to an additional 682,500 Units (the “Over-Allotment Option”) at the Issue Price was exercised in full for additional aggregate gross proceeds of C$1,501,500.

The sale of the additional Units today pursuant to the Over-Allotment Option brings the aggregate gross proceeds to SilverCrest (including the Over-Allotment Option) to C$11,511,500.

 

Minaurum Samples 1750g/t Silver over 1.2m at La Quintera; Identifies Three New Targets

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https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1380-tsx-venture/mgg/27645-minaurum-samples-1750g-t-silver-over-1-2m-at-la-quintera-identifies-three-new-targets.html

Vancouver, British Columbia–(Newsfile Corp. – December 14, 2016) – Minaurum Gold, Inc.(TSXV: MGG) (“Minaurum”) is pleased to announce it has identified three new targets along a 2.5km section of the 7.5-km long epithermal vein system located at the La Quintera Silver Project in southern Sonora State. This area contains the La Quintera and Promontorio mines, which are estimated to have produced more than 140 million ounces of silver from 1680 to 1910. Geological mapping and sampling continue in the three target areas, as well as in additional potential targets on parallel zones.

Sonoro Metals Announces Agreement to Sell Chipriona Project to Agnico Eagle Mines

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https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1445-tsx-venture/smo/27642-sonoro-metals-announces-agreement-to-sell-chipriona-project-to-agnico-eagle-mines.html

Sonoro Metals Corp. (TSX.V: SMO) (“Sonoro” or the “Company”) announces that through its wholly-owned Mexican subsidiary, Minera Mar de Plata, S.A. de C.V., it has entered into an assignment agreement (the “Agreement”) with Agnico Sonora, S.A. de C.V. (“Agnico”), a subsidiary of Agnico Eagle Mines Ltd. (TSX: AEM), for the sale to Agnico of Sonoro’s Chipriona project in Mexico for $4 million plus a 1% net smelter returns royalty (“NSR”). The NSR may be purchased by Agnico at any time for $1.5 Million.

The Chipriona project is located in the Mulatos Mining District in Sonora State and is comprised of several concessions totaling 515 hectares, covering the Chipriona group of concessions, Los Pinos concession and private land near or adjacent to Agnico’s La India gold mine. The Chipriona concessions account for approximately 4% of Sonoro’s total exploration portfolio of 14,351 hectares.

Oceanus Intersects 110 Meters of 0.79 g/t Gold Equivalent Consisting of 0.6 g/t Gold and 14.5 g/t Silver at its El Tigre Property in Sonora, Mexico

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http://globenewswire.com/news-release/2016/12/14/897637/0/en/Oceanus-Intersects-110-Meters-of-0-79-g-t-Gold-Equivalent-Consisting-of-0-6-g-t-Gold-and-14-5-g-t-Silver-at-its-El-Tigre-Property-in-Sonora-Mexico.html

HALIFAX, Nova Scotia, Dec. 14, 2016 (GLOBE NEWSWIRE) — Oceanus Resources Corporation (TSXV:OCN) (“Oceanus” or the “Company”) reports additional assay results from the ongoing diamond drilling program on its 100% owned El Tigre Property in Sonora, Mexico.  Highlights from the drilling include the following:

  • Hole ET-16-108 – 110 meters of 0.79 g/t gold equivalent consisting of 0.6 g/t gold and 14.5 g/t silver; including 16 meters of 1.69 g/t gold equivalent consisting of 0.82 g/t gold and 64.7 g/t silver.
  • Hole ET-16-109 – 20.4 meters of 3.23 g/t gold equivalent consisting of 0.4 g/t gold and 212 g/t silver; including 4 meters of 13.9 g/t gold equivalent consisting of 0.82 g/t gold and 981.2 g/t silver.
  • Hole ET-16-104 – 115.9 meters of 0.58 g/t gold equivalent consisting of 0.43 g/t gold and 11.4 g/t silver; including 67 meters of 0.81 g/t gold equivalent consisting of 0.56 g/t gold and 18.3 g/t silver.

The true width has not been calculated for the intercepts, but true width is generally estimated at 75-90% of drilled width.  Drill assays were composited by length-weighted averaging into intersections using a 0.2 g/t gold equivalent cut-off grade.  The gold equivalent ratio is based on a gold-to-silver price ratio of 75:1.

Scotiabank ayudaría a Goldcorp a vender mina en México

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http://www.elfinanciero.com.mx/empresas/scotiabank-ayudaria-a-goldcorp-a-vender-mina-en-mexico.html

Goldcorp contrató a Bank of Nova Scotia para vender su proyecto de oro y plata Camino Rojo en México. La venta se sumaría a la lista de operaciones de las que podría deshacerse para centrarse en las minas más rentables, de acuerdo con personas familiarizadas con el asunto.

El productor de oro con sede en Vancouver también está trabajando con Scotiabank en la venta de su operación Los Filos en México, que se dice está en etapas avanzadas de negociaciones para venderla, dijeron las fuentes, que pidieron no ser identificadas.