Highlights on the First Week of January, 2018. Mineral Exploration in Mexico

During the 1st week of the year (January 1st to January 8th, 2018), at least nine press releases were announced by companies working in Mexico. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Azure informed Teck drilled 11 holes on a 4,905 m drill program on the El Alacrán project; Colibri is planning a drilling program at its El Pilat project. In Sinaloa, Santana released drill results on its Cuitaboca project. ON MINING, Leagold informed the production of 191.2 K Oz Au during 2017 at Los Filos mine in Guerrero. ON FINANCING, Mammoth settled debt with shares and granted options to management and directors; SilverCrest Metals granted options to directors, officers, employees and consultants, while its president entered into a private placement with the company.  ON RESOURCES AND DEVELOPMENT; Sierra Metals updated its resource estimate on El Cusi mine, Chihuahua, with over 40 M Oz Ag, 38 K Oz Au, 83 M Lb Pb, 96 M Lb Zn in measured, indicated and inferred resource categories. Premier Gold updated on exploration realized during 2017 on its Mercedes property in Sonora, boasting several wide high-grade drill intervals on several prospects. ON DEALS AND CORPORATE ISSUES, no relevant news.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Santana Minerals Ltd. provided an update on the exploration of its Cuitaboca project in Sinaloa. Three reverse circulation (RC) holes were drilled on the Las Animas/Evangelina structures, returning 11 m @ 32 g/t Ag; 2 m @ 44 g/t Ag; 2 m @ 52 g/t Ag in one hole, 2 m @ 51 g/t Ag; 29 m @ 34 g/t Ag; 13 m @ 23 g/t Ag in other hole and 10 m @ 23 g/t Ag. At Mojardina South five holes were drilled, returning 66 m @ 36 g/t Ag; 7 m @ 110 g/t Ag; 53 m @ 47 g/t Ag; 8 m @ 157 g/t Ag; 15 m @ 100 g/t Ag; 12 m @ 102 g/t Ag. Current drilling at La Plata prospect is testing a 2 km strike length of high grade mineralization previously identified by trenching.
  • Azure Minerals Ltd. informed that Teck Resources Ltd. completed their first drilling campaign at the El Alacrán property on Sonora. After exercising the back-in clause to earn an ownership interest in the project, Teck carried during 2017 geological mapping, surface geochemical sampling and geophysical (IP and CSAMT) surveys, confirming two high priority targets, on which 11 holes totaling 4,905 m were completed. Teck is expected to deliver the results in February 2018.
  • Colibri Resource Corp. has plans for a two-phase drilling program on the Main Zone of its El Pilar gold project in Sonora. To date, Colibri has defined an in-house resource on the Main Zone deposit of 700 K tonnes @ 1.9 g/t Au (Non 43-101 compliant). The new program is designed to expand this resource and define it by NI-43-101 standards.

ON MINING

  • Leagold Mining Corp. achieved mid-point of guidance of production at it Los Filos mine in Guerrero, with 191,195 Oz Au. Since the Los Filos acquisition on April 7, 2017, the mine has produced 145,192 oz of gold.

Leagold production 20171

ON FINANCING

  • Mammoth Resources Corp. settled debts totaling $21 K owed to certain insiders by issuing shares, and granted 783 K stock options to management and directors of the company (Tenoriba, Chihuahua).
  • SilverCrest Metals Inc. entered into a private placement agreement with its new president, Christopher Ritchie, for CAD$750 K. Also 955 K stock options were granted to directors, officers, employees and consultants of the company (Las Chispas, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Sierra Metals Inc. updated its mineral resource estimate for the Cusi mine in Chihuahua. The resource estimate includes drilling from 2014 to August 2017, and a further 48,684 m drilled afterwards on the Santa Rosa de Lima structure. The resource estimate includes 362 K tonnes @ 225 g/t Ag, 0.13 g/t Au, 0.55% Pb, 0.68% Zn as Measured; 4.2 M tonnes @ 217 g/t Ag, 0.21 g/t Au, 0.64% Pb, 0.66% Zn as indicated and 1.6 M tonne @ 158 g/t Ag, 0.16 g/t Au, 0.54% Pb, 0.84% Zn as inferred; containing 31.8 M Oz Ag, 30.2 K Oz Au, 63.4 M Lb Pb, 66.2 M Lb Zn in the measured and indicated category, and 8.3 M Oz Ag, 8.3 K Oz Au, 19.6 M Lb Pb, 30.4 M Lb Zn in the inferred category.
  • Premier Gold Mines Ltd. updated on exploration at its Mercedes mine in Sonora, where 349 core holes were drilled during 2017. On the Mercedes vein trend, highlighted results in the Barrancas, Brecha Hill and CasaBlanca comprise 12.20 m @ 69.5 g/t Au, 112 g/t Ag (including 3.05 m @ 226 g/t Au, 63 g/t Ag); 15.25 m @ 22.9 g/t Au, 73 g/t Ag; 17.0 m @ 12.0 g/t Au, 50 g/t Ag; 3.45 m @ 58.3 g/t Au; 74 g/t Ag; 3.05 m @ 23.9 g/t Au, 151 g/t Ag; 7.65 m @ 13.7 g/t Au, 132 g/t Ag; 3.75 m @ 12.2 g/t Au, 231 g/t Ag. At Diluvio-Lupita highlighted results comprise 6.0 m @ 19.6 g/t Au, 11 g/t Ag; 19.0 m @ 7.35 g/t Au, 1.9 m @ 14 g/t Au, 131 g/t Ag. At Rey de Oro highlighted results comprise 6.0 m @ 70.5 g/t Au (including 1.0 m @ 413 g/t Au, 16 g/t Ag). The newly discovered Axis vein as well as several other target areas is to be tested systematically during 2018.

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, argillitized porphyritic intrusive with minor quartz veining, in a prospect of the Durango Altiplano. Photo by Jorge Cirett.

SD intrusive3 - copia

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