Highlights on the First Week of July, 2017. Mineral Exploration in Mexico

During the 27th week of the year (July 3rd to July 9th, 2017), as summer takes hold and enterprises reduce media activity, at least 10 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Coahuila Discovery Metals assembled a large land package to search for CRD deposits.  ON MINING, US Antimony is to proceed with a cyanide leach circuit and increasing its workforce at Wadley in San Luis Potosi; In Chihuahua Consolidated zinc released high grade results from sampling at Plomosas. In Durango Telson secured mill processing for ore from its Tahuehueto mine. In Sonora Alio Gold reported second quarter 2017 production. ON FINANCING, Sierra Metals has been approved to list on the NYSE MKT. ON RESOURCES AND DEVELOPMENT, No relevant news. ON DEALS AND CORPORATE ISSUES, Autlan sold its stake on GFM Resources to its affiliate Metallurum Holdings. Discovery Metals and Leagold announced high-profile new members on their respective boards.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Discovery Metals Corp. recently assembled a land package of approximately 300 K hectares over a large historical mining district in Coahuila. The portfolio of seven key properties is situated in a world class carbonate replacement deposits (CRD) corridor that stretches from Southern Arizona to Central Mexico. “The land holdings contain numerous historical direct-ship ore workings with over 4,000 m of underground development. No modern exploration or exploration drill testing has been carried out on the properties.”

ON MINING

  • United States Antimony Corp. reported that the milling and flotation of 400 tonnes of material from the Los Juarez deposit in Queretaro recovered 52.8%, 49.6% and 31.5% of gold, silver and antimony respectively, while cyanide testing of the mill tailings were excellent, allowing for an estimated recovery of 90% gold, 90% silver and 70% antimony. The company will proceed with the construction of the cyanide leach circuit for the Puerto Blanco mill tailings when the permit is approved by SEMARNAT. Meanwhile, the underground miners have been increased to 90 men at the Wadley deposit in San Luis Potosi, and plans are underway to reopen the Guadalupe deposit in Zacatecas.
  • Consolidated Zinc Ltd. informed that sampling on the Las Espadas area of its Plomosas mine in Chihuahua proceeded over 150 m of strike length of remnant massive sphalerite and galena mineralization averaging 0.95 m @ 32.1% Zn, 14.9% Pb. “The Las Espadas area is defined by the presence of the Mina Veija Manto, with mineralisation occurring in the footwall as massive sulphides, comprising typical low iron sphalerite and galena.”
  • Alio Gold Inc. reported preliminary production results for the second quarter of 2017. The San Francisco mine in Sonora processed 1.93 M tonnes @ 0.47 g/t Au, while moving 4.3 M tonnes of waste (2.6 Waste to Ore ratio) to produce 22,011 Oz Au, 10,332 Oz Ag.
  • Telson Resources Inc. entered into an agreement with Compañia Minera de Atocha, S.A. de C.V. (with a mill in Tepehuanes, Durango) for the process during 2017 of at least 21 K tonnes of ore from its Tahuehueto mine in Durango. Ore is being mined from the same location as the previous 3,500 tonne bulk sample @ 9.5 g/t Au, 64 g/t Ag, 3.5% Pb, 6.2% Zn for USD$1.47 M in revenue. Underground production is now proceeding at 200 tonnes per day (tpd) from an ore shoot estimated to contain at least 50 K tonnes.

ON FINANCING

  • Sierra Metals Inc. announced that its common shares have been approved for listing on the NYSE MKT. The common shares will continue to trade on the Toronto Stock Exchange and the Lima Stock Exchange (Cusi and Bolivar, Chihuahua).

ON RESOURCES AND DEVELOPMENT

  • No relevant news.

ON DEALS AND CORPORATE ISSUES

  • Compañía Minera Autlán S.A.B. de C.V. sold 16.37 M common shares of GFM Resources Ltd to its affiliate Metallurum Holding, S.A.P.I. de C.V.. The shares represent 85.77% of the issued and outstanding shares of GFMR, and represent all the shares held by Autlan. Metallorum paid Autlan CAD$264 in cash, or less than 115% of the most recent closing market price of GFMR (Molango, Hidalgo).
  • Discovery Metals Corp. announced the appointment of Murray John as Chairman of the Board and the appointment of Jose Alberto Vizquerra Benavides to the Board. The company also created and advisory committee consisting of Arturo Bonillas, Cal Everett, Craig Roberts, Moira Smith and Sean Tetzlaff (Large land package, Coahuila).
  • Leagold Mining Corp. announced the appointment of Tristan Garel Jones as an independent non-executive director. Tristan is a well-known English politician that has held several high-profile posts (Los Filos, Guerrero).

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, a dry lake bed in northern Chihuahua produces a mirage, there is no standing water. Photo by Jorge Cirett.

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