During the 52nd week of the year (December 25th to January 31st, 2017), at least 6 press releases were announced by companies working in Mexico. ON MEXICO ISSUES: No relevant news. ON EXPLORATION: two press releases from companies working in Mexico informed on exploration efforts during the week: In Sonora SiverCrest released bonanza grade results from its infill drilling of the Babicanora vein at its Las Chispas property in Sonora. In Chihuahua, VVC Exploration informed on drilling progress at its Samalayuca copper property. ON MINING: No relevant news. ON FINANCING: Orla Mining approved a share for debt settlement for $206.8 K; Mag Silver filed a prospectus to offer up to US$200 M over a 25-month period. ON RESOURCES AND DEVELOPMENT: No relevant news. ON DEALS AND CORPORATE ISSUES, No relevant news.
ON MEXICO ISSUES
- No Relevant News.
ON EXPLORATION
- SilverCrest Metals Inc. released phase II infill drilling on the Babicanora vein at its Las Chispas property in Sonora. High-grade mineralization has been intersected for over 1,000 m of strike length on the Babicanora vein, one of nineteen veins in the property. The highlighted true width intersects comprise: 1.2 m @ 54.2 g/t Au, 2,021 g/t Ag; 3.2 m @ 4.96 g/t Au, 859 g/t Ag; 3.1 m @ 6.82 g/t Au, 343 g/t Ag; 1.4 m @ 5.10 g/t Au, 439 g/t Ag; 2.0 m @ 18.2 g/t Au, 1,791 g/t Ag (including 0.5 m @ 68.50 g/t Au, 6,760 g/t Ag; 5.0 m @ 1.05 g/t Au, 265 g/t Ag; 3.1 m @ 40.45 g/t Au, 5,375 g/t Ag (including 1.1 m @ 96.3 g/t Au, 12,773 g/t Ag. Ten to fifteen additional surface holes are planned in the Babicanora vein, and the ongoing underground drilling on the Las Chispas and Giovanni veins in this expanded phase II drilling program.
- VVC Exploration Corp. announced that drilling to date on its Samalayuca copper property in Chihuahua totals 2,701 m in 23 holes, having tested La Gloria, La Gloria NW, La Gloria Extension, Thor and La Zorra. The drill program is to resume early in the New Year on the La Concha, Zorra and La Gloria Extension zones, with results to be release once the program is completed.
ON MINING
- No Relevant News.
ON FINANCING
- Orla Mining Ltd. has approved a share for debt settlement with certain creditors, providing for debt settlement for an aggregate of $206.8 K (Camino Rojo, Zacatecas).
- Mag Silver Corp. “has filed a preliminary short form base shelf prospectus with the securities commissions in each of the provinces of Canada, except Quebec. The base shelf prospectus will allow MAG to offer up to US$200,000,000 of common shares, preferred shares, debt securities, subscription receipts, units and warrants from time to time over a 25-month period after Canadian securities regulatory authorities have issued a receipt for the final short form base shelf prospectus” (Juanicipio, Zacatecas).
ON RESOURCES AND DEVELOPMENT
- No Relevant News.
ON DEALS AND CORPORATE ISSUES
- No Relevant News.
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, breccia fragment within a structural breccia cemented by hematite and silica, developed on a quartzite, Durango. Photo by Jorge Cirett.
