Month: December 2016

San Marco Secures Drill Permits For Chunibas

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https://www.juniorminingnetwork.com/junior-miner-news/press-releases/518-tsx-venture/smn/27580-san-marco-secures-drill-permits-for-chunibas.html

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 13, 2016) – San Marco Resources Inc. (TSX VENTURE:SMN) (“San Marco” or the “Company”) announces receipt of all necessary permits from the Mexican environmental and natural resources ministry, Secretaría del Medio Ambiente y Recursos Naturales (SEMARNAT) allowing the Company to carry out additional surface exploration activities, including trenching and drilling, on its Chunibas property. As announced November 1st, 2016, the Company also has agreements with local ejidos (communal agricultural land authorities) allowing surface access for an indefinite period.

The Chunibas property is an intrusive hosted, intermediate sulphidation gold system, together with anomalous concentrations of silver, copper, lead and zinc. Gold is hosted in shear zones of various orientations with mineralization open in all directions. Historic drill results demonstrate that significant gold values occur not only within discrete, metric scale structures but within broad haloes of lower grade material.

Endeavour Silver Drill Programs Discover New High-Grade, Silver-Gold Mineralized Zones at the El Compas and Terronera Properties in Mexico

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http://www.marketwired.com/press-release/endeavour-silver-drill-programs-discover-new-high-grade-silver-gold-mineralized-zones-nyse-exk-2182663.htm

VANCOUVER, BC –(Marketwired – December 13, 2016) – Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) announces that exploration drill programs on the El Compas property in Zacatecas State and the Terronera property in Jalisco State, Mexico have discovered new high-grade, silver-gold mineralized zones within recently identified epithermal quartz veins on each property.

These two drill programs are being conducted as part of two ongoing economic studies, a preliminary economic assessment (PEA) for El Compas and a pre-feasibility study (PFS) for Terronera, to evaluate the potential for advancing each of these two development projects to production.

IMPACT Silver Drills 4.93 Meters of 354 g/t Silver and 3.10 Meters of 434 g/t Silver at San Ramon Deeps

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https://www.juniorminingnetwork.com/junior-miner-news/press-releases/361-tsx-venture/ipt/27571-impact-silver-drills-4-93-meters-of-354-g-t-silver-and-3-10-meters-of-434-g-t-silver-at-san-ramon-deeps.html

IMPACT Silver Corp. (TSX.V: IPT) (“IMPACT” or the “Company”) is pleased to announce more high-grade drill results for silver from the Deeps Zone of the San Ramon Mine in central Mexico.  These new drill intersections are located at depth below previously reported drill intersections.  Additional holes have been drilled and results are pending.  New drill results are as follows:

SAN RAMON DEEPS DRILL RESULTS

Hole

No.

Vein

From
(meters)

To
(meters)

Interval

(meters)

True Width
(meters)

Ag

(g/t)

Au

(g/t)

Pb

(%)

Zn

(%)

MPZ-215

Inmaculada 2

94.00

102.15

8.15

7.09

87

0.07

0.07

0.41

MPZ-216

HW Vein

78.66

81.00

2.34

2.20

194

0.10

0.12

1.08

Inmaculada 2

95.00

95.80

0.80

0.69

562

0.30

0.73

2.02

Including

95.55

95.80

0.25

0.22

1,475

0.91

2.25

6.25

UG4-01

Inmaculada 2

99.13

104.50

5.37

4.93

354

0.20

0.21

0.56

Including

101.46

103.70

2.24

2.06

710

0.40

0.33

1.03

UG4-02

Inmaculada 2

108.00

111.10

3.10

2.65

190

0.14

0.49

1.01

Including

109.60

110.07

0.47

0.40

608

0.43

0.58

1.27

UG4-03

Inmaculada 2

103.25

106.75

3.50

3.32

141

0.07

0.12

0.28

Including

106.50

106.75

0.25

0.24

481

0.14

0.84

1.55

UG4-04

Inmaculada 2

114.43

118.10

3.67

3.10

434

0.19

0.73

1.72

Including

115.25

115.94

0.69

0.58

843

0.30

0.79

2.00

Alset Sets Options for New and Existing Team Members

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http://www.marketwired.com/press-release/alset-sets-options-for-new-and-existing-team-members-tsx-venture-ion-2182599.htm

THUNDER BAY, ONTARIO–(Marketwired – Dec. 12, 2016) – Alset Energy Corp. (TSX VENTURE:ION) (“Alset” or “the Company”) is pleased to report that 2,043,000 options have been set for new members that have recently been added to the Board of Directors and management team as well as pre-existing members of the team. The options carry an exercise price of $0.13 and expire five years from the date of grant (December 12, 2021) and vest in accordance with the Company’s Stock Option Plan.

Allan Barry Laboucan, President and CEO of Alset Energy said: “Since I took over as the President and CEO, I’ve been able to add a few new members to our team and had outstanding support from the team that was in place before I arrived. We are spreading the options around to new members of our team and all those that have been instrumental in helping me transition into my position. It is important to me that our team and shareholders goals are aligned and we have these options to put out to our team that are working hard for all Alset shareholders.”

Mexus gives an update on progress at the Santa Elena mine

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https://globenewswire.com/news-release/2016/12/12/896676/0/en/Mexus-gives-an-update-on-progress-at-the-Santa-Elena-mine.html

CARSON CITY, Nev., Dec. 12, 2016 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”)  and its JV partner MarMar determined in November that a Merrill Crowe plant would be the best recovery system at the expanded Santa Elena mine.   The Merrill Crowe plant to be used was loaded and shipped from Walnut Grove, CA.  The plant cleared customs on December 8th and will arrive at the mine site December 12th.   As previously stated the assembly of the plant is not complicated and should be fully operational in January 2017.   The added time and effort to import a Merrill Crowe plant will be well worth it in terms of production.

MarMar is in the process of delivering a 42inch jaw crusher to the mine site.   This powerful high capacity plant will prove invaluable and will meet the needs of the mine for the foreseeable future.  In addition, MarMar has hired an expert in Merrill Crowe systems.  The new hire’s ultimate responsibility will be to ensure efficient precipitation of Gold and Silver at the mine.

Highlights on the First Week of December, 2016. Mineral Exploration in Mexico

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During the first week of December at least twenty press releases were announced by companies working in Mexico, including two third quarter reports. ON MEXICO ISSUES, China is already the third biggest foreign player in Mexico. ON EXPLORATION, a PFS was completed on a property in Durango, while in Chihuahua a drilling campaign continues and another one is on the planning stage. In Sonora results from a drilling campaign on a gold property were released, as were surface rock chip results from one Li property. In Hidalgo a property was staked, showing interesting initial rock chip sample results, whereas in San Luis Potosi and Zacatecas assay results were released for a Li property.  ON MINING, construction of a heap leach processing plant has begun in a project in Sonora, while in Sinaloa the high grade output was increased in one property, and development work continues in another one. In Queretaro a flotation mill continues with production tests. ON FINANCING, A C$10 M bought deal financing was completed by a company. ON RESOURCES, a technical report with a maiden resource was filed at SEDAR, and a PFS was completed on another, both from properties in Durango. ON DEALS AND CORPORATE ISSUES, the saga for the control of a property in Sinaloa continues, a property was optioned and one more sold, both in Sonora. A company is applying to be listed in USA and a second payment has been made on the option to earn interest on a tailings property in Durango.

ON MEXICO ISSUES

  • Mexico sets its eyes in China for investment in mineral resources. China is already the third most active foreign player in the Mexican mining sector, according to Mario Cantu, General Coordinator of Mining at the Ministry of Economy. The Ministry of Economy is currently setting up a taskforce in a bid to streamline the process of permit approvals that clarify the requirements for purchasing and renting mining concessions.

ON EXPLORATION

  • Telson Resources Inc. announced the completion of a pre-feasibility study (PFS) on its Tahuehueto property in Durango. The report states a proven mineral reserve of 3.3 M tonnes @ 3.4 g/t Au, 41 g/t Ag, 0.31% Cu, 1.1% Pb and 2.0% Zn, to be mined mainly by underground cut and fill method at a 790 tpd rate, with a mine life of 21 years. The reserves contain 356 K Oz Au, 4.38 M Oz Ag, 25 M Lbs Cu, 85.7 M Lbs Pb, and 161.3 M Lbs Zn.
  • Levon Resources Ltd. intends to proceed next year with a drilling program on its Cordero project in Chihuahua, once the silver price moves up in a “sustained and positive way.” The program will target the center of the pit resource, in a claim acquired after the resource was delineated.
  • Alix Resources Corp. reported more lithium-rich clay layers identified at its Electra project in Sonora. Assays from 31 samples returned 10 samples over 1,000 ppm Li. Clay layers are traced for approximately 4.5 km, over a surface up to 800 m in width.
  • Kootenay Silver Inc. continues the drilling campaign on its La Cigarra project, in Chihuahua. Samples from six more holes have been sent for assaying, and drilling is now continuing on the La Soledad structure, where a breccia zone can attain eight meters in width.
  • Prospero Silver Corp. staked a 4,690 ha mining concession in a high level epithermal vein system 85 km NW from Pachuca, in Hidalgo. The La Florida vein system is over 3.5 km long, with eight out of 22 samples returning 0.1 – 0.5 g/t Au and 1.4 – 11.1 g/t Ag, up to 525 ppm As, up to 6 ppm Hg and up to 6,860 ppm Sb. An additional structure, at least one kilometer long, returned on the only two samples 0.6, 0.61 g/t Au; 2, 2, g/t Ag; 1,595, 1,945 ppm As; and 1.7, 2.1 ppm Hg.
  • Alset Energy Corp. released assay results for 30 samples collected by the previous owner of the company, for three of the salars: La Salada, Santa Clara and Caligüey. The results run from 340 to 1,680 ppm Li, a bit lower than the previous assay results of 411 to 2,590 ppm Li. Potassium values range from 1.57% to 4.78%. Studies on x-ray diffraction show none to very small amounts of smectite, which points to Li not being inside the clay structure and an easier extraction.
  • Millrock Resources Inc. completed a ten hole 1,990 m drilling program at Los Chinos project in Sonora. The property is under a JV with Centerra, where the company can earn a 70% interest by funding US$5 M. Three target areas were tested; El Camino, La Tinaja and Pitalla zones. The best intersections were 4 m @ 0.69 g/t Au and 6.3 m @ 0.18 g/t Au.

ON MINING

  • Corex Gold Corp. has begun construction of its heap-leach Santana project in Sonora. The initial step involves forming two heaps, one with jaw-crushed material and the other with fine crushed, to test metallurgical recoveries.
  • Marlin Gold Mining Ltd. crushed 127.5 K tonnes of ore @ 5.26 g/t Au during November at its La Trinidad mine in Sinaloa. During the same period 21,567 Oz Au were stacked on the heaps, and 279 Oz Au recovered daily. Cash cost is estimated to be below $400 per gold ounce for the month.
  • United States Antimony Corp. continues production testing with an alkaline leach plant in Guanajuato, to process material from its Los Juarez mine in Queretaro. The two options under consideration are to use the flotation mill and the alkaline leach circuit, or to use the flotation mill, alkaline leach circuit, and the cyanide leach plant for the mill tailings. To date tests have shown recoveries of 50%, 70% and 70% for Au, Ag and Sb respectively under the first option, and 90%, 90% and 70% for Au, Ag and Sb respectively under the second option.
  • Americas Silver Corp. continues with the primary ramp development at its San Rafael project in Sinaloa, which is expected to reach commercial production in Q3 2017. The ramp is now 25 % complete, the electrical substation has been energized and water storage facilities have been constructed.
  • DynaResource Inc. processed 5,075 tons of feed material @ 11.38 g/t Au grade at its pilot mill in its San Jose de Gracia property in Sinaloa. The pilot mill facility averaged 182 tpd output.

ON FINANCING

  • SilverCrest Metals Inc. completed a CA$10 M bought deal financing (Las Chispas, Sonora).

ON RESOURCES

  • Orex Minerals Inc. filed on SEDAR a technical report for the first inferred resource estimate of the Sandra Escobar project in Durango. Utilizing 59 drill holes and a 45 g/t Ag cut-off base case, the inferred resource estimate yielded 9.8 M tonnes @ 106 g/t Ag, for a total of 33.3 M Oz Ag.
  • Telson Resources Inc. announced the completion of a pre-feasibility study (PFS) on its Tahuehueto property in Durango. The reserves contain 356 K Oz Au, 4.38 M Oz Ag, 25 M Lbs Cu, 85.7 M Lbs Pb, and 161.3 M Lbs Zn. The total resource (inclusive of mineral reserves) includes 6.1 M tonnes @ 2.1 g/t Au, 48 g/t Ag, 0.375 Cu, 1.36% Pb, 2.25% Zn on the measured and indicated categories, and 3.5 M tonnes @ 1.5 g/t Au, 41.6 g/t Ag, 0.32% Cu, 1.33% Pb, 2.21% Zn on the inferred category, for total contained metal amounts of 634 K Oz Au, 12.6 M Oz Ag, 61.8 M Lb Cu, 265.3 M Lb Pb and 483.9 M Lb Zn.

ON DEALS AND CORPORATE ISSUES

  • Dyna Resource de Mexico S.A. de C.V. has seized assets of Goldgroup Resources Inc. as part of a US$48 M damages award. A lien was approved upon stock certificates in the name of Goldgroup Resources Inc.
  • Riverside Resources Inc. signed an option agreement with Silver Viper Minerals Corp. on its Clemente project in Sonora. Silver Viper can earn a 100% on the project by staged payments on five years to sum $750 K, delivering 2 M shares and investing $4 M during the life of the option, Riverside will retain a 2% NSR, same that can be bought for $4 M.
  • Americas Silver Corp. has initiated the process to become listed on the NYSE MKT, and is to undergo a voting for a needed share consolidation in the procedure.
  • Santacruz Silver Mining Ltd. has entered into an agreement with a private Mexican company based in Hermosillo (the “Hermosillo Group”) to sell 100% of its interest in the San Felipe project in Sonora. The deal involves a cash consideration of US$15 M, in three installments, with the final one on February 15, 2017.
  • MX Gold Corp. has paid the second installment of $750 K in its agreement to gain 50% interest on the Magistral del Oro tailings project in Durango. Two more $750 K payments are to be made before January 19, 2017, to earn that 50% interest. The tailings have an historical (non 43-101 compliant) estimate of 1.25 M tonnes @ 2.06 g/t Au.

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, flow banding on a rhyodacitic dome, Zacatecas Altiplano. The flow bands are a few millimeters thick.

062-copia

SilverCrest Provides Corporate Update

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http://silvercrestmetals.com/news/index.php?&content_id=305

VANCOUVER, BC – December 12, 2016 – SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce that N. Eric Fier, President of the Company has returned from his partial leave of absence due to medical reasons and will resume his full?time duties as Chief Executive Officer, effective January 1, 2017.

Dunham Craig, Interim Chief Executive Officer of the Company will continue to assist with CEO responsibilities on an interim basis until January 1, 2017.

Graham Thody, Chairman of the Board, stated: “We are very pleased that Eric has made an excellent recovery from a medical procedure, and speaking for the entire Board and management team, we are very excited to see Eric resume his leadership role with the Company on a full-time basis. We wish to thank Dunham for so ably assuming the CEO role during Eric’s absence.”

Millrock Announces Drilling Results at Los Chinos Gold Project, Sonora, Mexico

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http://www.millrockresources.com/news/millrock-announces-drilling-results-at-los-chinos-gold-project-sonora-mexico/

VANCOUVER, BRITISH COLUMBIA, December 9, 2016 – Millrock Resources Inc. (TSX-V: MRO) (“Millrock”) announces that it has completed an initial drilling program at its Los Chinos gold project in Sonora State, Mexico. The project is the subject of a previously-announced option to joint venture agreement with Centerra Gold Inc. (“Centerra”). Under the option agreement, Centerra can earn a 70% interest by funding US$5.0 million in exploration expenditures over a five year period. Millrock manages the exploration work in close consultation with Centerra.

The drilling program consisted of ten holes totaling 1,990 meters. Three target areas were tested; the El Camino zone, La Tinaja prospect, and Pitalla zone. Anomalous surface geochemical values detected at surface with induced polarization anomalies were targeted. The induced polarization anomalies were explained by fault structures with oxidized sulfide minerals. Weakly anomalous gold assay results were encountered in two of the drill holes, but no significantly mineralized intervals were drilled.

DynaResource, Inc. Reports November 2016 Gold Production and Results of Operations at San Jose de Gracia

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http://sports.yahoo.com/news/dynaresource-inc-reports-november-2016-130000219.html

IRVING, TX–(Marketwired – Dec 9, 2016) – DynaResource, Inc. ( OTCQB : DYNR ) (“DynaUSA”, and “the Company”) is pleased to announce that Mineras de DynaResource S.A. de C.V. (“DynaMineras”), the 100% owned subsidiary of DynaUSA and the exclusive operator of the San Jose de Gràcia Property in the County of Sinaloa de Leyva, State of Sinaloa, México (“SJG”), is reporting the delivery for sale, on December 6, 2016, of an approximate 600 Oz gold contained in concentrates (exact weights in gold and silver oz. to be determined at final settlement).

DynaMineras reports November, 2016 production of an approximate total of 1,460 Oz gold contained in concentrates (exact weights in gold and silver oz. to be determined at final settlement). DynaMineras further reports the below summary of the pilot mill operations conducted during November, with assays reported in accordance with internal lab reports:

1) 5,075 Tons: Feed material processed;
2) 11.38 g/t Au: Average grade of mill feed;
3) 1,460 Oz Gold: Gold concentrates produced (exact weights in gold and silver Oz to be determined at final settlement of sale);

DynaMineras further reports contract mining at San Pablo mine, and test mill runs of the pilot mill facility at SJG are continuing, with an average volume output from the pilot mill facility in November of approximately 182.33 tonnes per 24 hours of operation.

Alset Receives Assay and XRD Results for Mexican Salars

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https://alsetenergy.ca/news/2016/alset-receives-assay-and-xrd-results-for-mexican-salars

Thunder Bay, Ontario: Alset Energy Corp. (TSXV: ION) (“Alset” or “the Company”) is pleased to announce the laboratory results of 30 samples selected from stored historical sampling efforts completed by LitioMex (2009-2011), the former property owner, on three of the Mexican salars, La Salada, Santa Clara, and Caliguey. The laboratory work included a check or “head” assay followed by quantitative X-ray diffraction analysis and a second assay on the less than 2 micron size fraction of the sample. The purpose of the X-ray diffraction was to determine the clay mineral species and their abundance. The original samples were part of a work program conducted by the previous owners whereby 5m holes were dug in the salars on a 100m x 100m grid with five 1m samples collected from each hole and submitted for multi-element analyses. The historical values returned from Inspectorate laboratory for the 30 samples ranged from 411 to 2590ppm lithium compared to the recent results from Activation Laboratories (“Actlabs”) on behalf of Alset which ranged from 340 to 1680ppm lithium. Both laboratories used an induced coupled plasma (ICP) procedure with a four-acid total digestion. Overall the results from Inspectorate seem a bit higher than those produced by Actlabs and may be a result of the remaining portion of each sample used by Actlabs being much smaller. The most important aspect of the current ongoing laboratory work is the XRD (x-ray diffraction) results listed in the table below. Smectite is a group of clay minerals of which the lithium-bearing mineral hectorite is included. Of the 30 samples submitted, no smectite was detected in 12 and only trace was detected in 2 samples. The samples with the highest concentration of smectite, which may or may not be hectorite, came from the Caliguey salar where Mexico’s former Mineral Resource Council sampling of fluid in the salar returned values of 1.2 to 2.1% lithium (see Alset PR September 1, 2016). The evidence suggests that the vast majority of the lithium is not held in hectorite clay where it is difficult and expensive to extract.