During the 25^th week of the year (June 19^th to June 25^th, 2017), at least 25 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora Riverside completed drilling at Glor; SilverCrest released high-grade results from drilling at Las Chispas project and Goldex reported surface assays on its Mingeo property. In Veracruz Almadex released drilling results from its El Cobre project, and Mexican Gold announced an incoming drilling program at Las Minas. In Chihuahua VVC Exploration has obtained surface agreements for its Samalayuca project and Radius Gold is to explore its Amalia project (see below). In Durango Prospero has started drilling at the Matorral target within its Santa Maria project.  ON MINING, Endeavour Silver released the Sustainability and Growth report for 2016. ON FINANCING, First Mining Finance graduated to the TSX; Geologix completed a financing round for $1.2 M and Silver Bull received commitments for CDN$1.3 M. ON RESOURCES AND DEVELOPMENT, Torex released high-grade results from the sub-sill orebody at its Los Guajes mine in Guerrero; Great Panther reported surface drilling assays from its San Ignacio mine in Guanajuato; Santacruz Silver encountered a new vein while drifting at the optioned Membrillo property in San Luis Potosi; Premier Gold presented exploration highlights and high-grade results from its Mercedes mine in Sonora. ON DEALS AND CORPORATE ISSUES, Goldcorp and Orla Mining agreed on the sale-purchase of the Camino Rojo project in Zacatecas; Santacruz optioned from Mexican private companies the Veta Grande and Milpillas properties in Zacatecas; Mx Gold paid the remainder of the purchase price of a gold smelter in Durango from American Metal Mining; Radius Gold optioned the Amalia property from a private owner in Chihuahua.

ON MEXICO ISSUES

• No Relevant News.

ON EXPLORATION

• Riverside Resources Inc. completed a nine-hole, 1,942 m, diamond core drill program at the Pitaya target area (4 km2) within the Glor project (36 km2) in Sonora, which is being explored with funding by partner Centerra Gold Inc. Results include 11.0 m @ 0.59 g/t Au and 2.0 m @ 0.46 g/t Au. The results are low compared with the trenching at the surface that showed disseminated gold values in the 0.5-1 g/t Au. Four remaining target areas are to be explored to define drilling targets.
• Mexican Gold Corp. is to realize a 3,000 metre diamond drilling campaign at its Las Minas project in Veracruz. The drilling program targets expansion at the Cinco Senores zone as well as step-out drilling at the El Dorado / Juan Bran. “Additionally, a field exploration program, consisting of trenching, sampling and mapping will be carried out at the Santa Cruz zone to test the upward continuation of the zone above the area of previous drilling. Trenching, sampling and mapping will also be undertaken at the Pueblo Nuevo concession to further outline the quartz veins recently sampled at the site”.
• Almadex Minerals Ltd. released results from two more holes at its El Cobre property in Veracruz, in the Norte Zone. Results include 153.5 m @ 0.68 g/t Au, 0.27% Cu (including 84 m @ 0.96 g/t Au, 0.37% Cu); 167 m @ 0.27 g/t Au, 0.12% Cu; 255.64 m @ 0.26 g/t Au, 0.17% Cu. At El Encinal Zone a new area of outcropping stockwork quartz veining was identified. El Encinal Zone is 3.5 km south-southeast of the Norte Zone and 2.5 km southeast of the Raya Tembrillo Zone stockwork veining.
• VVC Exploration Corp. completed agreements with the land owners on its Samalayuca copper project in Chihuahua. The agreements provide access to all the area of the project, now that the company is focused on a pilot miming startup.
• SilverCrest Metals Inc. released high-grade intercepts from the Babicanora vein at its Las Chispas project in Sonora. Highlighted estimated true width (TW) intercepts include 6.6 m @ 1.03 g/t Au, 328 g/t Ag; 2.0 m @ 3.78 g/t Au, 68 g/t Ag; 1.2 m @ 3.53 g/t Au, 303 g/t Ag; 7.6 m @ 4.08 g/t Au, 196 g/t Ag (including 2.2 m @ 10.8 g/t Au, 181 g/t Ag). To date, past and present significant intercepts are averaging 4.5 m (TW) grading 521 g/t AgEq. Since acquiring the property 14,205 m of drilling have been performed, with 37 holes in the Las Chispas, William Tell, Giovanni, Espiritu Santo and Varela veins, and 25 holes in the Babicanora area, including the Babicanora and Babicanora footwall veins. Before the end of July 2017, 3,500 meters more of drilling are planned in the phase II in the Babicanora area, and commence underground drilling at Las Chispas main vein.
• Radius Gold Inc. has entered in an option to acquire (see below) the Amalia project in Chihuahua. Epithermal mineralization has been sampled by Radius in several veins, vein breccias and disseminated zones over 3.5 km strike length and a 600 m vertical interval on a large regional fault zone. At the Campamento zone “a 70-meter-wide zone of intense silicification, and brecciation with massive and stockwork veining has been mapped at the contact between the upper Rhyolite and lower Andesite volcanic sequence.” Rock chip sampling has returned up to 33.3 g/t Au and 288 g/t Ag, with 22 samples averaging 0.75 g/t Au and 65 g/t Ag. The silica is chalcedonic, banded and amorphous, indicating a high level within the epithermal system. The Guadalupe zone is 700 m to the SE and 200 m below, with two samples grading 20.3 g/t Au, 5,360 g/t Ag and 3.05 g/t Au, 476 g/t Ag over 1.2 and 1.3 m respectively.
• Goldex Resources Corp. reported assay results from initial sampling at its Mingeo property in Sonora. Gold mineralization is in low angle quartz “mantos” (low angle veins) 0.1 – 3.0 m in width. The veins present drag folds, evidence of shearing and are believed to be of orogenic origin. The low angle quartz veins are observed for some 600 m on the property, with the current sampling covering 350 m in the manto1 area. Several other low angle quartz veins occur in the property. All 39 samples from the manto 1 returned assays greater than 0.4 g/t Au, and one sample on the footwall assayed 1.13 g/t Au. Best results include 1.10 m @ 6.86 g/t Au; 0.75 m @ 7.1 g/t Au; 0.62 m @ 10.05 g/t Au; 0.30 m @16.7 g/t Au; 0.7 m @ 7.36 g/t Au; 0.93 m @ 22.2 g/t Au; 0.8 m @ 12.25 g/t Au, 1.80 m @ 8.15 g/t Au; 1.05 m @ 18.9 g/t Au; 1.03 m @ 4.46 g/t Au.
• Prospero Silver Corp. has started drilling at the Matorral project in Durango, as part of the testing of three properties under its agreement with Fortuna Silver Mines Inc.. Four holes are planned at Matorral, which has 7 km of prospective structures at Matorral, which is one of two targets on the 9,066 hectares Santa Maria del Oro claims. Sampling on the surface has returned up to 460 g/t Ag.

ON MINING

• Endeavour Silver Corp. released the Sustainability and Growth report for 2016, which informs on a 6.6% decrease in injured frequency rate; the distribution of $140 M in economic value in Mexico (including $40 M in wages and $17 M in taxes); investing more than 68 K hours for 1,600 employees in training; investing $1.5 M in environmental initiatives, reducing energy consumption by 5% and the planting of 34,500 trees; and the reception of the Social Responsible Company award from CEMEFI and the Alliance for Social Philanthropy for all three mines.

ON FINANCING

• First Mining Finance Corp. received approval from the Toronto Stock Exchange to graduate from the TSV Venture Exchange (TSXV) and list its common shares on the TSX. (Projects in Sonora, Durango, Oaxaca).
• Geologix Explorations Inc. has completed its non-brokered private placement with an over-subscription of 20% for gross proceeds of $1.21 M. the net proceeds will be used for exploration and development expenditures at its Tepal gold/copper project in Michoacan.
• Silver Bull Resources Inc. is to issue a private placement for which currently has received commitments for gross proceeds of CDN$1.33 M (Sierra Mojada, Coahuila).

ON RESOURCES AND DEVELOPMENT

• Torex Gold Resources Inc. released high-grade assays from 25 in-fill drill holes of the Sub-Sill deposit at its Limon-Guajes mine in Guerrero. Results (unknown true width) include 2.3 m @ 11.8 g/t Au, 17 g/t Ag, 0.5% Cu; 4.2 m @ 8.2 g/t Au; 14.8 m @ 27.3 g/t Au, 19 g/t Ag, 0.9% Cu; 9.7 m @ 39.1 g/t Au (including 2.9 m @ 114.4 g/t Au); 6.2 m @ 16.1 g/t Au; 3.1 m @ 107.3 g/t Au, 53 g/t Ag, 2.1% Cu; 8.4 m @ 13.3 g/t Au, 49 g/t Ag, 3.6% Cu; 11.9 m @ 9.2 g/t Au, 77 g/t Ag, 3.1% Cu; 13.0 m @ 32.1 g/t Au, 26 g/t Ag, 0.4% Cu; 11.4 m @ 23.2 g/t Au, 0.2% Cu. “The Sub-Sill area is located between the El Limon and El Limon Sur ore deposits and under the El Limon Sill. The El Limon Sill area occurs in the Mesozoic carbonate-rich Morelos Platform, which has been intruded by Paleocene granodiorite stocks, sills and dikes. Skarn-hosted gold mineralization is developed along the contacts of the intrusive rocks and the enclosing carbonate-rich sedimentary rocks. Structurally, the El Limon Sill target area as well as El Limon and El Limon Sur ore deposits are hosted in a graben bounded by La Flaca fault to the west and the Antena fault to the east, and both are considered to be potential feeders for the mineralization. At the El Limon Sill area, several skarn zones have been identified along the contacts of the carbonate rich sediments and marbles of the Cuautla and Morelos formations and sills fingering out from the main granodiorite stock. High grade gold mineralization have been intercepted in all the different skarn horizons. Within the skarn zones individual ore shoots vary in strike length from approximately 50 meters up to 200 meters, with apparent widths varying from 2 meters to 27 meters.” The Sub-Sill in-fill diamond drilling program comprises a total of 50 holes (7455m), with the 17.5m x 17.5m drill pattern aiming to upgrade 1 M tonnes over an area of 250m x 150m, to the Indicated category, which will support the development of a mine plan. “…the Sub-Sill access ramp has entered into the high grade mineralization at its Sub-Sill underground deposit……. The first 260 tonnes of ore from the Sub-Sill were delivered to the processing plant yesterday. A random sample from each truck load of ore from this first ‘round’ into mineralized Sub-Sill skarn, returned an average grade of 98 g/t Au.”
• Great Panther Silver Ltd. released assays from surface drilling at its San Ignacio mine in Guanajuato (part of its Guanajuato Mine Complex). The drilling targeted the intersection of the Melladito and Plateros veins, with intercepts including (true width, TW) 19.2 m @ 6.36 g/t Au, 261 g/t Ag; 2.99 m @ 2.18 g/t Au; 100 g/t Ag; 1.68 m @ 3.68 g/t Au, 160 g/t Ag; 0.78 m @ 9.95 g/t Au, 783 g/t Ag; 3.68 m @ 1.51 g/t Au, 194 g/t Ag; 0.91 m @ 5.87 g/t Au, 672 g/t Ag; 6.65 m @ 2.54 g/t Au, 18 g/t Ag; 2.9 m @ 4.04 g/t Au, 22 g/t Ag; 2.03 m @ 10.77 g/t Au, 278 g/t Ag; 3.67 m @ 5.6 g/t Au, 127 g/t Ag; 1.83 m @ 11.05 g/t Au, 160 g/t Ag. The program comprised 32 holes for 7,464 meters with a vertical and horizontal spacing of approximately 50 meters.
• Santacruz Silver Mining Ltd. reported that drifting work at the rented Membrillo prospect in San Luis Potosi encountered a previously unknown vein now named San Rafael, that is infilled with carbonate and sulfide minerals. To date a drift on the E-W vein (NW-SE is the prevailing strike on the district) over 68 meters has shown the true width to be between 0.5 and 1.6 meters. Chip sampling on the vein returned values of trace-1.4 g/t Au, trace-770 g/t Ag, 0.03-15.9% Pb, 0.28-20.1% Zn.
• Premier Gold Ltd. presented exploration highlights on its Mercedes mine in Sonora. “Underground drilling along strike from the Corona de Oro mine workings has discovered additional high-grade mineralization…” while “Step-out drilling has expanded the Diluvio deposit” and “Underground development (drifting) is underway to access the Marianas Zone….”. High grade intercepts of the ongoing 50,000 metre program (ten surface and underground rigs) include 1.5 m @ 10.85 g/t Au, 29 g/t Ag; 3.0 m @ 7.78 g/t Au, 33 g/t Ag; 2.4 m @ 15.52 g/t Au, 24 g/t Ag; 3.1 m @ 10.92 g/t Au, 85 g/t Ag; 30.6 m @ 5.17 g/t Au, 13 g/t Ag; 7.7 m @ 4.56 g/t Au, 43 g/t Ag; 2.1 m @ 9.74 g/t Au, 45 g/t Ag; 1.5 m @ 24.4 g/t Au, 138 g/t Ag; 1.5 m 39 g/t Au, 121 g/t Ag; 3.0 m @ 11.2 g/t Au, 99 g/t Ag; 1.5 m @ 18.25 g/t Au, 126 g/t Ag; 4.7 m @ 13.94 g/t Au, 636 g/t Ag.

ON DEALS AND CORPORATE ISSUES

• Goldcorp Inc. entered into an agreement with Orla Mining Ltd. to sell its 100% interest in the Camino Rojo oxide project. Goldcorp “will receive: (1) 19.9% of the issued and outstanding common shares of Orla, (2) a 2% Net Smelter Return royalty on revenues from all metal production from the project, with the exception of metals produced under a joint venture with Orla, (3) an option to acquire up to a 70% interest in future sulphide projects, and (4) the right to nominate a director to Orla’s Board for as long as Goldcorp’s equity ownership position is greater than 10%.”
• Santacruz Silver Mining Ltd. has signed an agreement with certain private Mexican companies which grant Santacruz an option to purchase a 100% interest in the Veta Grande and Milpillas properties in Zacatecas, for aggregate cash consideration of US$15.5 M. Currently Santacruz operates the properties on a 60%/40% net profits interest. The payment Schedule includes US$2.5 M on or before December 14, 2017, and US$2.5 M, US$3.0 M, US$4.0 M and US$3.5 M on yearly installments.
• MX Gold Corp. has paid the remaining amounts due totaling US$450 K to American Metal Mining S.A. de C.V., thereby acquiring 50% of the shares in Inversiones Durango San Luis S.A. de C.V. that holds the IDS smelter project, a past producer gold smelter.
• Radius Gold Inc. has signed a binding agreement with a private individual to option the 380 hectare Amalia project in Chihuahua. The deal involves a US$5 K payment and staged payments over 5 years totaling US$845 K and US$15 K in Radius shares.

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, epithermal quartz veining in fine grained sandstone near Aldama, Chihuahua. Photo by Jorge Cirett.