Vancouver, British Columbia (FSCwire) – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces that it has arranged a non-brokered private placement of up to 5 million units (“Units”) at a price of $0.05 per Unit for aggregate gross proceeds of $250,000 (the “Offering”). Each Unit will be comprised of one common share (“Share”) and one transferable Share purchase warrant of the Company (“Warrant”). Each warrant entitles the holder to purchase an additional share at a price of $0.10 per share for a period of 24 months from the date of closing. Proceeds will be used for the Company’s short term payables and for general working capital.
VANCOUVER, Jan. 31, 2017 /CNW/ – Pan American Silver Corp. (NASDAQ:PAAS; TSX:PAA) (“Pan American” or the “Company”) today announced that, effective the start of trading on Wednesday, February 1, 2017, Pan American’s stock ticker symbol on the Toronto Stock Exchange (“TSX”) will change from its original three-letter symbol, “PAA” to “PAAS” (TSX: PAAS).
This root symbol change does not require any action by current shareholders. There is no change in the Company’s name, no change in its CUSIP number and no consolidation of capital, and there are no steps that need to be taken with respect to previously issued share certificates.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jan. 31, 2017) – Gunpoint Exploration Ltd. (“Gunpoint” or the “Company”) (TSX VENTURE:GUN) wishes to announce that it has entered into an agreement (“Option Agreement”) with Riverside Resources Inc. (TSX VENTURE:RRI) whereby Riverside Resources Inc. (“Riverside”) has been granted an option to acquire a 100% interest in Gunpoint’s La Cecilia-Margarita gold project (“La Cecilia”) located in Sonora State, Mexico.
In 2010, Gunpoint acquired La Cecilia from Chesapeake Gold Corp. (TSX VENTURE:CKG) together with three other properties for consideration that resulted in Chesapeake becoming a majority shareholder. Chesapeake currently owns 73% of Gunpoint. Located in northeastern Sonora state, Mexico, La Cecilia comprises three mineral concessions totalling 794 hectares and hosts epithermal gold mineralization in a rhyolite dome setting.
VANCOUVER, BC–(Marketwired – January 31, 2017) – Millrock Resources Inc. (TSX VENTURE: MRO) (OTCQX: MLRKF) (“Millrock” or “the Company”) is pleased to announce that it has sold a concession named Violeta to Riverside Resources Inc. (TSX VENTURE: RRI) (“Riverside”).
Consideration paid by Riverside for the concession is $10,000 and 100,000 Riverside shares. Additionally, Riverside has granted a 0.5% Net Smelter Returns royalty to Millrock. The agreement is subject to approval by the TSX Venture Exchange.
Gregory A. Beischer, Millrock’s President & CEO commented: “This concession is favourably situated geologically and sits immediately adjacent to larger tracts of land that are known to host some interesting gold occurrences. In a larger, district play, Violeta could be a valuable block for Riverside. Millrock is pleased to now own some Riverside shares as we believe this fellow generative explorer will continue to succeed and that the shares will someday be much more valuable.”
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jan. 31, 2017) – Riverside Resources Inc. (“Riverside” or the “Company”) (TSX VENTURE:RRI)(OTC PINK:RVSDF)(FRANKFURT:R99) is pleased to announce that the Company has signed agreements with Gunpoint Exploration Ltd. (“Gunpoint”) and Millrock Resources Inc. (“Millrock”) to consolidate the former company’s three La Cecilia Margarita concessions with the Violeta concession into a unified Cecilia Gold Project (the “Project”). The Cecilia Project, located in northeastern Sonora, Mexico, is targeting epithermal gold-silver mineralization in a rhyolite dome setting with potential for open-pit mining.
TORONTO, ON–(Marketwired – January 31, 2017) – Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (OTC: EXLLF) (“Excellon” or the “Company”), Mexico’s highest grade silver producer, is pleased to provide an update on the ongoing optimization program and announce fourth quarter and annual 2016 production results from the Platosa Mine in Durango, Mexico.
Initial pumping results from ongoing optimization program exceeded expectation, well drilling on schedule and submersible pump calibration underway
2016 Production (Compared to 2015)
Silver equivalent (“AgEq”) production of 1.3 million oz (2015 – 1.4 million AgEq oz)
Silver production of 752,689 oz (2015 – 794,289 oz)
Lead production of 4.4 million lb (2015 – 4.4 million lb)
Zinc production of 5.6 million lb (2015 7.4 million lb)
Q4 2016 Production (Compared to Q4 2015)
Silver equivalent (“AgEq”) production of 305,934 oz (Q4 2015 – 259,885 AgEq oz)
Silver production of 159,524 oz (Q4 2015 – 152,628 oz)
Lead production of 0.9 million lb (Q4 2015 – 0.8 million lb)
Zinc production of 1.2 million lb (Q4 2015 – 1.3 million lb)
COLORADO SPRINGS, CO–(Marketwired – Jan 30, 2017) – Gold Resource Corporation (NYSE MKT: GORO) (the “Company”) is saddened to report that an employee was fatally injured at its Arista Mine in Oaxaca, Mexico on January 29, 2017. The accident involved the operation of heavy equipment inside the mine.
The Company has voluntarily suspended mining and milling operations and expects to allow up to 48 hours before resuming operations to provide time to review and strengthen safety policies, procedures and protocols at all operations. Investigations by both the Company and the government into the circumstances surrounding the accident are currently underway.
During the 4th week of the year (23rd to 29th January, 2017) at least 18 press releases were announced by companies working in Mexico, including one preliminary production report for 2016. ON EXPLORATION, four companies presented exploration updates. One company with mines in, Jalisco, Durango and Guanajuato, and advanced properties in Chihuahua, Jalisco and Zacatecas is to drill 64,000 meters in 2017. In Sonora trench sampling results were released from a lithium property. In Chihuahua results of a PIMA-XRD survey on a high sulfidation property were released. Underground samples returned high grade silver values on a vein system in Zacatecas. ON MINING, Avino Silver and Endeavour presented production guidance for 2017, and Fresnillo increased silver production during 2016. ON FINANCING, Four companies conducted financial operations, for a hefty total of $358.35 M, with the majority arising from Fortuna Silver and Alamos Gold bought deals. ON RESOURCES AND DEVELOPMENT, one company reported high grade step-outs on its Mexico State mine. In Chihuahua metallurgical results were presented for a silver property. In Durango a PFS was presented on one property, while a maiden resource was presented for another one. ON DEALS AND CORPORATE ISSUES, the last installment to earn an interest on a tailings property in Zacatecas was completed.
Arian Silver Corp. released results from exploration at its La Africana property in Zacatecas. Consistent high grade results from underground sampling range 200 – 1,200 g/t Ag, with Pb and Zn credits. Sampling results include 2.4 m @ 445 g/t Ag, 0.28% Pb, 0.49% Zn; 4.97 m @ 260 g/t Ag, 0.2% Pb, 0.37% Zn; 3.45 m @ 184 g/t Ag, 0.65% Pb, 0.34% Zn; 4.46 m @ 178 g/t Ag, 0.33% Pb, 0.44% Zn; 3.35 m @ 198 g/t Ag, 0.67% Pb, 0.29% Zn; 4.95 m @ 319 g/t Ag, 0.71% Pb, 0.37% Zn.
Alix Resources Corp. presented trench sampling results from the Agua Fria zone of the Elektra project in Sonora, which include 146.5 m @ 712 ppm Li, 2.6% K; 30 m @ 954 ppm Li, 2.1% K; 103.2 m @ 758 ppm Li, 2.3% K. Also metallurgical testing has commenced on Li enriched clays, with 24 trench samples sent for assessment. On the Agua Fria North zone, nine channel samples averaged 1,069 ppm Li, with a peak of 1,340 ppm Li.
Endeavour Silver Corp. plans to drill 64,000 metres and spend $15.2 M on brownfield and greenfield exploration, development engineering and land payments on its properties. At El Compas in Zacatecas, a $3 M exploration budget includes 3,000 m of drilling and an 800 m long exploration adit. At Terronera in Jalisco, the $2.3 M budget is to cover 10,000 m of drilling to test other mineralized veins, complete the PFS and advance site infrastructure. At Parral $3.0 M are to drill 18,000 m to confirm a portion of the historical resource, testing multiple greenfields high-grade and bulk tonnage silver targets. A 5,000 m drill program will be conducted at Guadalupe y Calvo in Chihuahua.
Mammoth Resources Corp. reported results from its PIMA-XRD surface program at its Tenoriba property in Chihuahua. According to the company, 202 samples were collected on 14 lines 1 – 2 km in length, separated 500 m of each other; the dickite, pyrophyllite and smectite signatures define some corridors with greater favorability to contain economic gold mineralization in the high sulphidation epithermal environment. Tighter line spacing is to follow in to the Carneritos and Moreno zones, and expansion of the survey to other targets.
Avino Silver and Gold Mines Ltd. summarized 2016 operations, and provided guidance for 2017. At Avino and San Gonzalo mines 1.6 M Oz Ag, 7,119 Oz Au and 4.2 M Lb Cu were produced during 2016. Commercial production on the Avino mine commenced on April 1st , 2016, a new power line was completed and construction of a new tailings storage facility was initiated. For 2017 capital expenditures at the two mine sites is estimated USD$12.2 M, including a mill expansion, mining equipment, tailing storage facility and exploration.
Endeavour Silver Corp. provided 2017 production and cost guidance for its Guanaceví (Durango), Bolañitos (Guanajuato) and El Cubo (Guanajuato) mines. At Guanaceví 1.0 – 1.2 K tonnes per day (tpd) will be processed, to produce 2.4– 2.6 M Oz Ag, 5.3 – 6.3 K Oz Au; at Bolañitos 1.0 – 1.1 tpd are to be processed to produce 0.9 -1.0 M Oz Ag, 21.5 – 22.5 K Oz Au; at El Cubo 1.3 – 1.5 K tpd will be processed to produce 1.9 -2.1 M Oz Ag, 50.0 – 53.0 K Oz Au. Cash cost is expected to be $6.50 – $7.50 per silver ounce, net of gold by-product credits, and AISC on the same basis is estimated to be $14 – $15 per silver ounce. Investments for $43.3 M are planned on capital projects, primarily for mine development (16.7 km) to access reserves and resources.
Fresnillo PLC produced 50.3 M Oz Ag during 2016, a 7.1% increase year on year, and established a production goal of 58 – 61 M Oz Ag for 2017 from its six mines in Mexico. The increase in 2016 was supported by initial production from San Julian, in Chihuahua, and higher silver grades at Ciénega in Durango and Fresnillo in Zacatecas.
Fortuna Silver Mines Inc. entered into a bought deal agreement to sell shares for total gross proceeds of US$65 M (San Jose, Oaxaca).
Alix Resources Corp. arranged a non-brokered private placement for aggregate gross proceeds of $350 K (Elektra, Sonora).
Alamos Gold Inc. announced it has entered into a bought deal agreement with a syndicate of underwriters led by TD Securities Inc., BMO Capital Markets and Macquarie Capital Markets Canada Ltd., which if carried in its entirety will accrue US$288 M aggregate gross proceeds (Mulatos, Sonora).
Marlin Gold Ltd. informed that due to record free cash from its La Trinidad mine in Sinaloa, the company repaid US$5.5 M of principal one year early from its unsecured facility to affiliates of Wexford Capital LP., Marlin’s controlling shareholder. After the payment, Marlin cash and refined gold stands at $8.5 M.
ON RESOURCES AND DEVELOPMENT
Impact Silver Corp. announced more high-grade drill results from San Ramon Deeps, in its Zacualpan operation in Mexico State. True width drill intercepts include 2.73 m @ 265 g/t Ag, ; 4.12 m @ 1,613 g/t Ag, 0.47 g/t Au, 0.5% Pb, 1.7% Zn; 11.08 m @ 248 g/t Ag, 0.13 g/t Au, 0.3% Pb, 0.9% Zn; 4.82 m @ 242 g/t Ag, 0.18 g/t Au, 0.4% Pb, 1.3% Zn; 2.15 m @ 282 g/t Ag, 0.14 g/t Au, 0.2% Pb, 1.4% Zn; 0.45 m @ 1,014 g/t Ag, 0.18 g/t Au, 0.2% Pb, 1.5% Zn; 1.48 m @ 655 g/t Ag, 1% Pb, 1.5% Zn; 0.58 m @ 1,185 g/t Ag, 0.14 g/t Au, 2.1% Pb, 2.5% Zn. The zone remains open up, down and to the north.
Kootenay Silver Inc. reported results from preliminary metallurgical testing on its La Cigarra property in Chihuahua. The study indicates a marked improvement in silver recovery from 38% using standard leaching to 44% – 52% using a technique developed by SILVOX Technologies Inc. Some incomplete test suggest the process can achieve 54% – 58% silver recoveries.
Telson Resources Inc. informed that a pre-feasibility study (PFS) technical report has been filed on its Tahuehueto project in Durango. The project envisages a 790 tpd overhand cut and fill mine, and a 550 tpd flotation plant to produce Pb, Cu and Zn concentrates during the 21 year mine life, with annual production averaging 16.1 K Oz Au, 177.1 K Oz Ag, 0.9 M Lb Cu, 3.2 M Lb Pb and 5.6 M Lb Zn. The current probable mineral reserves stand at 3.3 M tonnes @ 3.4 g/t Au, 41.8 g/t Ag, 0.31% Cu, 1.1% Pb, 2.0% Zn. The study portrays a post-tax net present value (NPV) of $77 M (using an 8% discount rate), and pre-production capital costs of $32.2 M.
Golden Minerals Co. announced a NI-43-101 compliant maiden resource for its Rodeo property in Durango. Two resource estimates were prepared, one for mill processing comprising indicated open pit resources of 0.4 M tonnes (0.83 g/t AuEq cutoff) @ 3.3 g/t Au, 11 g/t Ag, for a total of 46 K Oz Au, 0.2 M Oz Ag, with expected recoveries of 77% Au, 90% Ag; and a second scenario with an open pit heap leach processing, bearing indicated resources of 3.6 M tonnes @ 0.8 g/t Au, 12 g/t Ag containing 94 K Oz Au, 1.4 M Oz Ag and inferred resources of 3.6 M tonnes @ 0.4 g/t Au, 11 g/t Ag, containing 47 K Oz Au, 1.3 M Oz Ag, with recoveries of 60% Au, 70% Ag.
ON DEALS AND CORPORATE ISSUES
Mx Gold Corp. has paid remaining installments (totaling $2.5 M) earning a 50% participating ownership interest and 45% net profit participating interest in the Magistral del Oro tailings project in Durango. “The Project includes a fully permitted, 500 tonne-per-day dynamic cyanide countercurrent system plant constructed in 2013 at a cost of approximately $4.5 million, which appears to be in excellent condition.”
TORONTO–(BUSINESS WIRE)–Americas Silver Corporation (TSX:USA) (NYSE MKT:USAS) (“Americas Silver” or the “Company”) announces preliminary consolidated production and operating cost results for fiscal 2016, and guidance for fiscal 2017. A subsidiary of the Company has also entered into a non-dilutive $15 million pre-payment facility with a subsidiary of Glencore PLC with proceeds used to support the development costs for the San Rafael zinc-lead-silver project (the “Project”) within the Cosalá district of Sinaloa, Mexico. The information provided in this press release is preliminary and unaudited; final results in the 2016 annual Consolidated Financial Statements and Management’s Discussion and Analysis may differ. All amounts are in U.S. dollars unless otherwise indicated.
January 30, 2017 – New Gold Inc. (“New Gold”) (TSX:NGD) (NYSE MKT:NGD) today announces its 2016 fourth quarter and full-year operating results, an update on its Rainy River project and 2017 guidance. The preliminary figures provided for 2016 fourth quarter and full-year production, sales, operating expense, total cash costs, all-in sustaining costs and other financial information are approximate and may differ slightly from the final results in the 2016 annual audited consolidated financial statements and management’s discussion and analysis.