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

During the 36th week of the year (September 4th to September 10th, 2017), at least 22 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Azure Minerals released drilling results from Oposura; Aztec Minerals updated on exploration of its Cervantes project and Riverside reported on mapping and sampling of the Glor project. In Durango, Chesapeake reported high grade trenching and rock sampling results from its Yarely project. ON MINING, Alamos Gold commenced gold production at La Yaqui, Sonora, and MX Gold is on track to complete plant expansion at Magistral, in Durango. ON FINANCING, Colibri closed the first tranche of a non-brokered private placement, for gross proceeds of $640 K. ON RESOURCES AND DEVELOPMENT; Consolidated Zinc updated the mineral resources estimate at Plomosas, Chihuahua. Sierra Metals released interesting results from definition drilling at Bolivar, Chihuahua. Agnico Eagle updated on exploration at La India, in Sonora, and El Barqueño, in Jalisco. Excellon released high-grade results near mining operations at Platosa in Durango. Southern Silver reported more drilling results from Cerro Las Minitas, Durango. Almadex Minerals released drilling results from El Cobre in Veracruz. Golden Minerals is to drill extensions of the Santa Maria vein in Chihuahua. Oceanus released channel sample results from old mining workings on El Tigre property in Sonora. ON DEALS AND CORPORATE ISSUES, GoGold Resources entered into an agreement to sell its Santa Gertrudis project in Sonora to Agnico Eagle for $80 M. Discovery Metals appointed Peter Drobeck as Vice-President Exploration. Oroco Resource entered into a mineral exploration agreement with Auracle Geospatial Science.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Azure Minerals Ltd. released results from drilling completed by the previous owners, confirming significant widths of high-grade Zn-Pb-Ag mineralization at its Oposura project in Sonora. Length of hole intercepts include 4.4 m @ 7.4% Zn, 5.6% Pb, 0.12% Cu, 18 ppm Ag; 2.40 m @ 4.3% Zn, 3.4% Pb, 15 g/t Ag; 9.30 m @ 7.9% Zn, 3.4% Pb, 0.4% Cu, 32 g/t Ag; 2.50 m @ 8.9% Zn, 5.6% Pb, 1.0% Cu, 27 g/t Ag; 7.40 m @ 7.8% Zn, 5.9% Pb, 0.11% Cu, 22 g/t Ag: 3.85 m @ 5.3% Zn, 6.1% Pb, 0.13% Cu, 18 g/t Ag; 3.40 m @ 6.8% Zn, 7.1% Pb, 0.61% Cu, 23 g/t Ag; 2.50 m @ 8.3% 5.7% Pb, 0.24% Cu, 24 g/t Ag; 6.65 m @ 16.5% Zn, 2.3% Pb, 0.51% Cu, 107 g/t Ag. Substantial widths of massive and banded sulfide were hit on most holes, with all mineralization fresh and non-oxidized. Azure has submitted an application for a resource drill-out program covering an area of 1,400 m x 400 m, and a wider exploration program. Note by editor.- This property was subject to a non-conclusive debate back in the 1980’s regarding its origin, either a volcanogenic massive sulfide  (would be the first in Sonora) or a skarn originated by felsic dikes intruding intracaldera sediments, including the hosting thin layered limestone. It’s going to be interesting what Azure’s take on the deposit’s origin is.
  • Aztec Minerals Corp. released assay results from sampling on two trenches at the Jasper prospect on the Cervantes property in Sonora. The Peñasco trench returned 20 m @ 0.89% Cu (0.35% to 1.39% Cu), 0.69 g/t Au (0.05 to 2.95 g/t Au), while the Cardon trench, 30 m to the north, returned 10.85 m @ 0.76% Cu (0.35% to 1.05% Cu), 0.30 g/t Au (0.09 to 0.78 g/t Au). The Jasper prospect is within siliceous hornfels, quartzites, argillites and the same altered quartz feldspar porphyry intrusive rocks as the California prospect, but at a lower elevation. New trenching is underway.
  • Riverside Resources Inc. reported mapping and rock-chip sampling on the Alamo target of its Glor project in Sonora, funded by partner Centerra Gold Inc. Mapping outlined extensive outcrops of andesite volcanic rocks and a number of shear structures inclined at low angles, displaying orogenic-style rock alteration and quartz and carbonate veining. “Gold assays for 11 of the samples ranged between 0.338 and 24.0 g/t Au”.
  • Chesapeake Gold Corp. assembled a land package of 68,000 contiguous hectares at the Yarely project in Sinaloa, adjacent to Chesapeake’s Metates project in Durango. A 186 Km of induced polarization (IP)-resistivity geophysical survey defined a 6 km long anomaly, up to 600 m in width and over 300 m in depth; anomaly that coincides with two mineralized corridors. Work to date includes trenching and 2,500 rock samples on the Central, Loretos, Yazmin, Sundae, Lucy and Los Mimbres prospects. These prospects have distinct mineralization styles, including, skarns, veins, stockworks and breccias hosted in sedimentary, metasedimentary and intrusive rocks. Rock chip and channel sample results include 2 m @ 19.5 g/t Au, 505 g/t Ag; 2 m @ 14.0 g/t Au, 185 g/t Ag; 3 m @ 1.1 g/t Au, 805 g/t Ag; 11.0 m @ 1.1 g/t Au, 42 g/t Ag; 14 m @ 1.5 g/t Au, 143 g/t Ag; 65 m @ 0.5 g/t Au, 12 g/t Ag; 33 m @ 81 g/t Ag; 374 m @ 0.12% Zn; 10 m@ 73 g/t Ag; 17 m @ 0.8 g/t Au, 10 g/t Ag; 7 m @ 117 g/t Ag, 1.1% Cu, 1.4% Zn; 7 m @ 0.4 g/t Au, 44 g/t Ag; 31 m @ 0.3 g/t Au, 14 g/t Ag. Drilling is to commence in 3-4 weeks on the Central and Loretos prospects.

ON MINING

  • Alamos Gold Inc. announced that gold production has commenced at its La Yaqui project in Sonora, with the pour of 410 Oz Au. The first phase of construction is substantially complete, on budget and ahead of schedule. La Yaqui is a heap leach operation 7 km from the Mulatos mine, and is expected to produce 25 K Oz Au per year.
  • MX Gold Corp. in its JV with GracePoint Mining Corp. reported that contractor Componentes Mineros S.A. de C.V. is on track for completion of the plant expansion to 1,000 tonnes per day at the Magistral tailings project in Durango.

ON FINANCING

  • Colibri Resource Corp. closed the first tranche of its previously announced non-brokered private placement, with aggregate gross proceeds of $640 K, and $29.6 K paid on finders fees (Pilar, Pitaya projects in Sonora).

ON RESOURCES AND DEVELOPMENT

  • Consolidated Zinc Ltd. updated the mineral resource estimate for its Plomosas project in Chihuahua. There are 158 K tonnes as indicated resources @ 18.2% Zn, 6.4% Pb, 43 g/t Ag and 810 K tonnes @ 10.9% Zn, 3.3% Pb, 20 g/t Ag that contain 117 K tonnes Zn, 37 K tonnes Pb, 748 K Oz Ag. This estimate represents a 70% increase in tonnage and 60% increase on contained metal over the previous estimate. Metallurgical studies from the Tres Amigos sulfide zone indicate Zn recoveries over 90%.
  • Sierra Metals Inc. released assay results from definition drilling at the Bolivar West zone, adjacent to the Bolivar mine in Chihuahua. The 28 hole, 12,300 m program covered an area 300 m long and 180 m wide. True width intercepts include 9.2 m @ 69 g/t Ag, 2.3% Cu, 2.0% Zn; 7.4 m @ 0.1 g/t Au, 42 g/t Ag, 1.3% Cu, 1.4% Zn; 15.6 m @ 0.33 g/t Au, 41 g/t Ag, 1.4% Cu, 0.8% Zn; 18.0 m @ 37 g/t Ag, 1.8% Cu; 12.6 m @ 0.1 g/t Au, 133 g/t Ag, 1.4% Cu, 0.7% Zn; 8.7 m @ 68 g/t Ag, 1.9% Cu; 13.5 m @ 48 g/t Ag, 2.2% Cu; 11.2 m @ 47 g/t Ag, 2.4% Cu, 0.7% Zn; 17.6 m @ 488 g/t Ag, 1.9% Cu, 1.5% Zn; 18.0 m @ 12 g/t Ag, 1.3% Cu, 1.0% Zn; 13.9 m @ 50 g/t Ag, 2.0% Cu, 0.1% Zn; 15.8 m @ 50 g/t Ag, 1.2% Cu. The mineralization is located 450 m below the surface, with an average grade of 2.55% CuEq and an average true width of 9.1 m.
  • Agnico Eagles Mines Ltd. announced exploration results on its properties, including information on its Mexican operations. At La India in Sonora, 19,790 m were drilled in 182 holes in 2017, extending near-pit mineralization and other near-mine targets. Drilling at the Main zone intersected 37.7 m @ 0.88 g/t Au, 24.8 m @ 1.15 g/t Au, 39.0 m @ 0.71 g/t Au. At El Realito target intersected 7.3 m @ 9.5 g/t Au, 36 g/t Ag; 29.3 m @ 0.82 g/t Au; and 40.3 m @ 1.4 g/t Au, 67 g/t Ag at La Chipriona. At El Barqueño in Jalisco, drilling extended the Cuauhtemoc-Azteca-Zapoteco system to 3.4 km. Recent results in Far west include 5.7 m @ 6.3 g/t Au, 45 g/t Ag. From January to July 2017, 30,699 m of drilling in 91 holes were completed.
  • Consolidated Zinc Ltd. informed the scoping study on its Plomosas property in Chihuahua is due this month. The study is increasingly focused on the Tres Amigos and Las Espadas, where good metallurgical results and increases in resources have taken place. “Consolidated Zinc will carry out further drilling in 2017 and 2018 in a bid to further increase the resource, …. at Las Espadas, Carola South, Level 7 and Tres Amigos”.
  • Excellon Resources Inc. released drilling results from its current program at its Plomosas mine, in Durango. The program highlighted the discovery of mineralization near mine workings, with intercepts greater than 1 kg/tonne Ag in 8 of 11 holes over 5.7 m average core length. Drill intercepts include 3.2 m @ 1,366 g/t Ag, 7.9% Pb, 13.6% Zn; 3.6 m @ 2,291 g/t Ag, 15% Pb, 13.3% Zn; 11.1 m @ 0.1 g/t Au, 1,204 g/t Ag, 9.3% Pb, 13.4% Zn; 5.2 m @ 0.2 g/t Au, 2,079 g/t Ag, 14.2% Pb, 23.9% Zn; 2.6 m@ 864 g/t Ag, 5.0% Pb, 6.9% Zn; 5.6 m @ 521 g/t Ag, 5.0% Pb, 8.6% Zn; 8.0 m @ 612 g/t Ag, 9.4% Pb, 4.6% Zn. These holes define a 100 by 25 m zone connecting and expanding the 623 manto and the Guadalupe South manto, currently in production.
  • Southern Silver Exploration Corp. reported the intersection of the down-dip projection of two mineralized zones at the Las Victorias target in its Cerro Las Minitas project in Durango. Mineralized intercepts include 12.5 m @ 154 g/t Ag, 2.0 g/t Au, 0.2% Cu, 3.2% Pb, 3.9% Zn; 6.8 m @ 194 g/t Ag, 0.80 g/t Au, 0.1% Cu, 4.4% Pb, 2.0% Zn on the upper zone, and 10.0 m @ 182 g/t Ag, 1.0 g/t Au, 0.5% Cu, 1.6% Pb, 6.4% Zn; 9.2 m @ 220 g/t Ag, 0.3% Cu, 3.6% Pb, 5.4% Zn; 13.0 m @ 105 g/t Ag, 0.1% Cu, 0.5% Pb, 0.4% Zn. “Approximately 13,400 metres in 18 drill holes have now been completed in the planned US$2 million 2017 exploration program”.
  • Almadex Minerals Ltd. released results from one more hole at the Norte zone at its El Cobre project in Veracruz. The drill hole intersected high-grade mineralization and intense stockwork veining and potassic alteration. The hole intersected 308.5 meters @ 0.39 g/t Au, 0.20% Cu, including 159.0 m @ 0.61 g/t Au, 0.25% Cu, and 101.0 m @ 0.81 g/t Au, 0.32% Cu and 60.7 m @ 0.95 g/t Au, 0.37% Cu. The drill hole is 200 m NW from previously known mineralization.
  • Golden Minerals Co. announced the start of a new drilling program at its Santa Maria project near Santa Barbara, Chihuahua. A recently optioned claim on the east of the property provides up to 600 m of strike length of the vein to test. The program aims to increase the current resource by testing the western and eastern limits of the vein. The two drill holes completed to date have intersected the vein with visible mineralization, results pending.
  • Oceanus Resources Corp. reported assay results from channel samples collected on old workings from the Protectora, Caleigh and Fundadora veins on its El Tigre project in Sonora. Results include: In the Fundadora workings 5.2 m @ 14.7 g/t Au, 360 g/t Ag, including 1.7 m @ 43.5 g/t Au, 1,039 g/t Ag; at the Caleigh workings 0.5 m @ 25.5 g/t Au, 1,704 g/t Ag; 1,0 m @ 2.1 g/t Au, 113 g/t Ag; at the Protectora workings 1.25 m @ 1.6 g/t Au, 308 g/t Ag; 1.50 m @ 2.1 g/t Au, 113 g/t Ag.

ON DEALS AND CORPORATE ISSUES

  • GoGold Resources Inc. entered into a definitive agreement with Agnico Eagle Mines Ltd. to sell its interest on the Santa Gertrudis project in Sonora for US$80 M, retaining a 2% NSR of which Agnico can buy back 1% for US$7.5 M. Agnico will advance GoGold US$7.5 M in cash via a subordinated secured term loan. The transaction is expected to close in the fourth quarter of 2017.
  • Discovery Metals Corp. announced the appointment of Peter Drobeck as Vice-President Exploration. Peter Drobeck has in his career, besides multiple international posts, decades of exploration experience in Mexico.
  • Oroco Resource Corp. entered into a mineral exploration agreement with Auracle Geospatial Science Inc., “a highly advanced remote sensing provider”. “It should also be made clear at this time that Oroco intends to utilize the Auracle technology to extend its reach into Mexico beyond the scope of its Xochipala project”

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, the ignimbrites of the Sierra Madre in Chihuahua, near Batopilas. Photo by Jorge Cirett.

DSCN5515 - copia

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