Month: August 2017

Geologix Provides Tepal Exploration Update

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http://www.geologix.ca/s/NewsReleases.asp?ReportID=801560&_Type=News&_Title=Geologix-Provides-Tepal-Exploration-Update

Vancouver, BC – August 31, 2017 – Geologix Explorations Inc. [TSX-V: GIX] (“Geologix” or the “Company“) is pleased to provide an update to shareholders regarding the Company’s exploration activities at its 100% owned Tepal Gold/Copper Project located in Michoacán state, Mexico. After a multi-year hiatus due to prevailing low metals prices, the Company recently reinitiated field work following the completion of a $1.2M oversubscribed financing (see press release dated June 22, 2017). Geologix’s new management and technical team are currently focused on realizing the value and potential of Tepal through a staged exploration approach that is designed to expand the economic resource base and make additional discoveries, with the goal of enhancing the Preliminary Economic Assessment (“PEA”) (see press release dated January 19, 2017) prior to advancing the project to the pre-feasibility and/or feasibility stage.

Tepal work program highlights:

  • Re-logging of selected drill hole intersections from the South Pit indicates mineralization remains open both inside and beneath the current economic pit shell, suggesting potential to improve the existing resource though additional drilling.
  • High grade mineralization is structurally controlled with potential to extend beyond the current economic pit shells.
  • 54 rock chip and grab assay samples collected from a cross section of alteration and mineralization settings from within the three existing pit boundaries as part of a sample audit have successfully confirmed the mineralization observed at surface.
  • Initial assay results were as expected, ranging from weakly anomalous to high grade. The strongest assays include: 3.54g/t Au with 0.227% Cu (sample 10413); and 0.446g/t Au with 1.37% Cu (sample 425862) (see Table 3 for assay highlights).
  • An additional 484 outcrop chip samples were collected and quantified for alteration and magnetic susceptibility.
  • A US$300,000 budget has been assigned for this stage of exploration, sufficient to achieve current goals. Complete results from this program are expected early in Q4 2017 and will be used to assess additional exploration needs and for drill planning purposes.

Southern Silver Closes Second Tranche of Brokered and Non-Brokered Financing

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http://www.southernsilverexploration.com/en/news/171/southern-silver-closes-second-tranche-of-brokered-and-non-brokered-financing.php

Southern Silver Exploration Corp. (“Southern Silver” or the “Company”; SSV-TSX.V) has closed the second tranche of its previously reported private placement by issuing 1,170,000 units at a price of $0.40 per unit for gross proceeds of $468,000. The private placement was comprised of a brokered and non-brokered component. Gravitas Securities Inc. (“Gravitas”) acted as lead agent of the brokered portion of the private placement. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.55 per common share. On the closing of this tranche of the private placement, Gravitas received a cash fee of $42,240 and 105,600 non-transferable compensation options with each compensation option exercisable to purchase one common share for a period of 36 months at an exercise price of $0.40 per common share. Also paid upon closing were finder’s fees of $500 cash and 1,750 non-transferable finder’s warrants, with each finder’s warrant exercisable to purchase one common share at $0.55 for three years. Securities issued pursuant to this tranche of the private placement, including common shares, share purchase warrants, finder’s warrants and compensation options, carry a legend restricting trading of the securities until January 1, 2018.

LEAGOLD REPORTS HIGH-GRADE INFILL DRILLING RESULTS FROM BERMEJAL DRILLING PROGRAM

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http://www.leagold.com/news/2017/leagold-reports-high-grade-infill-drilling-results-from-bermejal-drilling-program

Vancouver, August 31, 2017 – Leagold Mining Corporation (TSX: LMC) (“Leagold” or the “Company”) is pleased to report several high-grade drilling results from Bermejal including 15.5 grams per tonne (“gpt”) over 27.0 metres, 17.4 gpt over 13.3 metres, 8.0 gpt over 20.3 metres and 16.8 gpt over 8.6 metres (all capped grades and true widths; see Table 1). These results are part of 20 holes being reported from the infill and step-out exploration program at the Bermejal Underground deposit at the Los Filos Mine, following the initial 20 holes reported on July 13, 2017.

Neil Woodyer, CEO stated “This second set of holes continue to delineate the broad widths and high grades of the mineralization below the junction of the sill and the Bermejal intrusive. Overall the program has an impressive 90% success rate with 36 of the 40 holes drilled intercepting the key targets.”

Over 25,000 metres (45%) of the 56,000 metre Bermejal Underground program have been completed. A total of 62 of the planned 113 holes have been drilled and, to date 40 holes have been reported, 12 are in progress and the remaining 10 are in the process of sampling or assaying. The entire drilling program is expected to be completed within 2017 and these drill hole results will be incorporated in an updated resource estimate.

VVC Exploration: Results of Annual Shareholders Meeting & Grant of Options

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http://www.marketwired.com/press-release/vvc-exploration-results-of-annual-shareholders-meeting-grant-of-options-tsx-venture-vvc-2232051.htm

TORONTO, ONTARIO–(Marketwired – Aug. 30, 2017) – VVC Exploration Corporation (“VVC” or the “Company“) (TSX VENTURE:VVC) announces that its Annual General Meeting of Shareholders (“AGM”) took place on August 25, 2017 and that the shareholders approved the election of all Directors proposed by Management. With the exception of Scott Hill (http://ir.theice.com/governance/management/scott-hill), those elected were the existing Directors of the Company. In addition, shareholders approved all other matters presented at the AGM, including the re-appointment of MNP LLP as auditors of the Company. The aggregate votes cast at the AGM represented 40,881,101 shares or 22.5% of all issued and outstanding shares.

Following the formal part of the AGM chaired by Terrence Martell, the President of the Company, Jim Culver, updated the attendees on the status of the Company. Subsequently, Andre St-Michel, leading consultant to the Company in Mexico, and Peter Dimmell, a Director and the Qualified Person of the Company, provided reviews of the Company’s Samalayuca Project. These reviews included the results of a recent ground magnetic survey used to help plan the drilling program which started on August 24, 2017 The magnetic survey shows the mineralized zones, as mined by gambusinos (artisanal miners) in the 1950’s and 1960’s, lie over magnetic lows which extend along strike away from the historically mined open pits. Both Samalayuca presentations will be posted on the VVC website.

Goldgroup Announces Amendment of Credipresto Facility

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http://www.newswire.ca/news-releases/goldgroup-announces-amendment-of-credipresto-facility-642294793.html

VANCOUVER, Aug. 30, 2017 /CNW/ – Goldgroup Mining Inc. (“Goldgroup” or the “Company”) (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) announces it has amended the terms of its outstanding loan facility from Credipresto SAPI de CV SOFOM ENR (“Credipresto”), subject to TSX approval. Javier Reyes, a director of Goldgroup, is an executive officer and director of Credipresto.

The Company entered into a US$10 million syndicated facility agreement as announced on September 19, 2014 among Credipresto, Goldgroup and another party that has since assigned its position to Credipresto, and guaranteed by the various guarantor parties thereto, as amended by the Loan Assignment Agreement announced in the press release on December 2, 2015. The facility agreement (“Credit Agreement”) was further amended as announced on December 23, 2015. Prior to the amendments to the Credit Agreement described herein, the outstanding balance owed on the Credit Agreement was US$89,000. In addition to the Credit Agreement, Credipresto has loaned the Company funds which bear interest at a rate of 12% per annum and are subject to the same repayment terms as the Credit Agreement (the “Additional Loan”).  Prior to the amendments to the Credit Agreement described herein, the outstanding balance owed on the Additional Loan was US$538,000.

MX Gold Corp. Celebrates Positive Advancements With Community Relations On The Magistral Project

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http://www.nasdaq.com/press-release/mx-gold-corp-celebrates-positive-advancements-with-community-relations-on-the-magistral-project-20170830-00588

VANCOUVER, British Columbia, Aug. 30, 2017 (GLOBE NEWSWIRE) — MX Gold Corp.(TSX-V:MXL) (FSE:ODV) (OTCQX:MXLGF) (the “Company” or “MX Gold”), in its joint venture partnership with GracePoint Mining Corp (OTC PINK:FRMA), is pleased to announce that the Magistral Project is experiencing great relations with the local community, including support from local government. The project completion and commencement of production is targeted for the 4th Quarter of 2017.

Ismael Mata Alvarado, Mayor of Santa Maria Del Oro, said: “We are very excited to be the home of one of the next great processing facilities in Mexico. We have seen excellent work and construction of a state of the art production plant. Working with the Magistral Project management team has been a pleasure. Our beautiful city of Santa Maria Del Oro has already benefited from the project, and as the project moves towards completion, it is already becoming clear that it will have a significant impact on our community.”

Marlin Gold Reports $5.4 Million ($0.03 per share) of Adjusted EBITDA for the Quarter Ending June 30, 2017

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Click to access 2017.08.30_NR.pdf

August 30, 2017 — Vancouver, British Columbia — Marlin Gold Mining Ltd. (TSX-V: MLN) (“Marlin” or the “Company”) is pleased to announce its financial results for the three and six months ending June 30, 2017 (“Q2” and “H1,” respectively). This press release should be read in conjunction with the Company’s Condensed Interim
Consolidated Financial Statements for the three and six months ended June 30, 2017 and 2016 as well as Management’s Discussion & Analysis (“MD&A”) for the same period, available on the Company’s website at www.marlingold.com and under the Company’s name on SEDAR at http://www.sedar.com. All monetary amounts are
expressed in Canadian dollars unless otherwise specified.
Marlin began continuously mining the high grade HS Zone at the La Trinidad gold mine in Sinaloa, Mexico (“La Trinidad”) on September 15, 2016, and began recovering gold from this area early in the fourth quarter of 2016 (“Q4”). For H1, the Company produced 24,341 ounces of gold and sold 30,226 ounces.
Adjusted EBITDA was $5.4 million ($0.03 per share) and $27.2 million ($0.16 per share) in Q2 and H1, respectively.

Endeavour Silver Drilling Extends High Grade Silver-Gold Mineralization in Santa Cruz Vein at the Guanaceví Mine in Durango, Mexico

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http://www.edrsilver.com/news/index.php?content_id=603

Vancouver, Canada – August 30, 2017 – Endeavour Silver Corp. (NYSE: EXK, TSX: EDR) announces that exploration drilling at the Guanaceví mine in Durango State, Mexico has extended high grade silver-gold mineralization along strike within the Santa Cruz vein and discovered new ore grade mineralization within a shallow, parallel splay of the Santa Cruz vein known as the La Negra vein.

These holes extend the boundaries of the current resource area (dated December 31, 2016). Drilling highlights include 786 grams per tonne (gpt) silver and 0.71 gpt gold (836 gpt AgEq) over 3.4 m true width (24.4 opT AgEq over 11.2 feet (ft)), with an internal interval assaying 2,260 gpt silver and 1.73 gpt gold (2,381 gpt AgEq) over 0.3 m true width (69.4 opT AgEq over 1.0 ft)

Silver Bull Announces The Start Of A 2000 Meter Underground Diamond Drill Program At The Sierra Mojada Project, Coahuila, Mexico.

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http://www.silverbullresources.com/s/news.asp?ReportID=801397

Vancouver, British Columbia — Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull”) is pleased to announce the start of a 2,000 meter underground diamond drill program targeting the newly identified zone of high grade sulphide mineralization recently identified at its Sierra Mojada Project in Coahuila, Northern Mexico.

  • The proposed drill program uses the company owned Termite drill rig to target sulphide mineralization from historical underground workings.
  • Highlights from select channel samples in the new sulphide zone include:
    • Sample 25736 @ 1130g/t silver, 22% zinc, 3.26% lead, 12.8% copper.
    • Sample 25727 @ 1315g/t silver, 0.05% zinc, 9.0% copper.
    • Sample 25735 @ 713g/t silver, 3.4% zinc, 0.14% lead, 1.1% copper.
    • Sample 25805 @ 491g/t silver, 24.7% zinc, 1.6% copper.
    • Sample 25739 @ 495g/t silver, 7.09% zinc, 2.68% lead, 1.06% copper.
    • Sample 25728 @ 392g/t silver, 0.4% zinc, 1.8% copper.
    • Sample 25732 @ 329g/t silver, 42% zinc, 3.2% lead, 1.65% copper.
    • Sample 25806 @ 277g/t silver, 19.65% zinc, 18.3% lead, 0.7% copper.
    • Sample 25803 @ 73g/t silver, 19.2% zinc, 4.8% lead, 0.3% copper.
    • Sample 25802 @ 42g/t silver, 10.5% zinc, 2.4% lead, 0.17% copper.
    • Sample 25801 @ 33g/t silver, 8.1% zinc, 3.4% lead, 0.1% copper.

Santacruz Silver Reports Second Quarter Financial Results

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Click to access August-30-17-Q2-2017.pdf

Vancouver, B.C. — Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports on its financial and operating results for the second quarter of 2017 (“Q2”). The full version of the financial statements and accompanying management discussion and analysis can be viewed on the Company’s website at www.santacruzsilver.com or on SEDAR at www.sedar.com. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of US dollars, except per unit amounts, unless otherwise indicated.

Q2 HIGHLIGHTS:

  • Revenues of $2,641
  • Production cost per tonne of $63.38
  • Silver equivalent production increased 21% to 270,659 in Q2 from 223,968 in Q1
  • Net loss of $8,485 after reflecting impairment charge of $5,284 on the Gavilanes Property
  • Cash cost per silver equivalent ounce sold of $21.24
  • AISC per silver equivalent ounce sold of $24.62