Highlights on the Second Week of February, 2018. Mining and Exploration News in Mexico

By Jorge Cirett

During the 6th week of the year (February 5th to February 11th, 2018), at least 30 press releases were announced by companies working in Mexico, with three companies reporting their Q4 and/or full year 2017 results. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Sonora, Silver Viper released drilling results from its Clemente project; Canuc Resources reported good surface sample results from its San Javier project; Centerra confirmed it explored two properties in the State during 2017. In Chihuahua VVC Exploration released drilling results from its Samalayuca copper project. In Coahuila, Discovery Metals intends to drill up to seven of its project in 2018. In Guanajuato, Vangold initiated work on a PEA on its Pinguico property. In Veracruz Almadex disclosed good Cu-Au results from drilling at El Cobre project; Mexican Gold begun its 2018 drilling at Las Minas. ON MINING, Three companies, US Antimony, Maverix Metals and Coeur Mining presented production results for the fourth quarter and/or full year 2017. Auxico Resources disclosed metallurgical results from its properties in Sinaloa. Maverix Metals presented royalty earnings from its Mexican contracts. Torex Gold continues to ramp-up operations after the termination of the illegal blockade it was subject to on its El Limon – Guajes mine in Guerrero.  ON FINANCING, Three companies announced the opening and/or closing of financial rounds: Torex Gold C$61.7 M, Advance Gold $190 K, Colibri Resource CAD$1 M. ON RESOURCES AND DEVELOPMENT, Kootenay Silver released surface sample assays and from its La Cigarra property in Chihuahua, and drilling results by Pan American on its La Negra discovery in Sonora. Avino Silver released drilling results from several target areas on the Avino property in Durango. Hecla Miing reported an updated mineral reserve and resource estimate for its San Sebastian property in Durango. Endeavour Silver reported updated mineral reserve and resource estimates for six of its properties in Mexico. ON DEALS AND CORPORATE ISSUES, Silver Viper signed a LOI with Pan American Silver on the extended land package of the La Virginia property in Sonora. Evrim Resources acquired more ground on the Cuale project in Jalisco by optioning and staking. Coeur Mining announced two board changes, including the appointment of Eduardo Luna. Wolverine Minerals Corp. intends to proceed to a name change to Aloro Mining Corp.


  • No relevant news


  • Discovery Metals Corp. announced an exploration budget for 2018 of C$5.2 M to do geological mapping, geochemical sampling, geophysics and first stage drilling of up to seven of its projects. At Puerto Rico in Coahuila, mapping and sampling programs, including rehabilitation of underground workings, are underway. At La Kika, also in Coahuila, 20 holes have been completed by drilling 750 m since late December 2017, focusing in high-grade Ag-Pb-Zn mineralization in mantos and a prominent breccia zone. At Minerva, in Coahuila, mapping and sampling will be followed by drilling in Q2, in a property that exhibits porphyry characteristics, transitional to skarn and CRD mineralization. At Monclova, in Coahuila, the skarn/CRD property will be mapped and sampled prior to drilling in Q2. Further work for 2018 includes mapping and sampling in Q3 of the early stage Jemi, Renata and Santa Rosa projects.
  • Silver Viper Minerals Corp. released results from drilling at its Clemente project in Sonora. Relevant core length results comprise 1.2 m @ 30 g/t Ag, 0.2% Pb+Zn; 0.7 m @ 827 g/t Ag, 0.23 g/t Au, 0.37% Cu, 1.6% Pb, 1.4% Zn; 0.5 m @ 24 g/t Ag, 0.12 g/t Au, 0.7% Pb, 1.5% Zn; 4.0 m @ 15 g/t Ag, 0.3% Pb, 2.6% Zn; 3.2 m @ 16 g/t Ag, 0.2% Pb, 2.2% Zn.
  • Mexican Gold Corp. has begun the 2018 drilling program at its Las Minas project in Veracruz. The 3,000 m program will focus on resource expansion as well as exploration drilling on El Dorado Dike contact, El Dorado Juan Bran, Santa Cruz, Nopaltepec, Cinco Señores and Las Minillas zones.
  • Vangold Mining Corp. has initiated a resource valuation and a preliminary economic assessment (PEA) on its El Pinguico project in Guanajuato. Drilling commenced on mid-January, with three of the 17 drill holes planned completed to date. The holes have intersected the underground stockpile (backfill) with an average recovery of 70% on the entire length and 43% on the broken material filling the old stopes.
  • Canuc Resources Corp. reported surface rock sample results from the Carranza and Lydia zones of its San Javier project in Sonora. At Lydia two lines of samples 40 m apart were collected perpendicular to the trend of the breccias, with one line returning 10 m @ 210 g/t Ag, 5.0 g/t Au and the other returning two separate intervals of 4.0 m @ 244 g/t Ag, 2.27 g/t Au; 99 g/t Ag, 0.36 g/t Au. At Carranza, 4.0 m averaged 100 g/t Ag, anomalous Au, and a second 6 m interval 25 m to the south averaged 162 g/t Ag, 0.83 g/t Au.
  • VVC Exploration Corp. released drilling results from its stratiform copper Samalayuca project in Chihuahua. At la Gloria zone, shallow core length intervals comprise: 7 m @ 0.46% Cu; 12 m @ 0.56% Cu; 10 m @ 0.67% Cu; 5 m @ 0.95% Cu. At Extensión La Gloria zone: 27 m @ 0.51% Cu; 51 m @ 0.36% Cu.
  • Centerra Gold Inc. released an update on its global exploration activities, which includes two Mexican plays. Both properties are explored for orogenic gold mineralization in Sonora: La Glor, explored with Riverside Resources Inc. and La Navidad project, explored along with Millrock Resources Inc.
  • Almadex Minerals Ltd. disclosed assays from the last two holes drilled on 2017 in the Raya Tembrillo and Porvenir zones of its El Cobre property in Veracruz. At Villa Rica, core length intervals intercepted 20.07 m @ 0.31 g/t Au, 0.03% Cu; 120.0 m @ 0.08 g/t Au, 0.37% Cu, including 58.0 m @ 0.15 g/t Au, 0.64% Cu (which include 38.0 m @ 0.16 g/t Au, 0.93% Cu). At Porvenir results comprise 64.5 m @ 0.37 g/t Au, 0.21% Cu (including 40.25 m @ 0.50 g/t Au, 0.25% Cu), 26.0 m @ 0.85 g/t Au, 0.27% Cu.


  • United States Antimony Corp. announced the sale of 76.9 K Lb Sb and 212.8 K Lb Sb during December 2017 and January 2018 respectively. Construction of the pilot cyanide leach circuit at the Puerto Blanco mill for the leaching of the Los Juarez gold and silver tailings continues making progress. Plans are to ramp up production to the mill’s 100 tpd capacity, and then increase production to 400 tpd.
  • Auxico Resources Canada Inc. announced results from innovative metallurgical testing conducted on its Aguamas and Campanillas projects in Sinaloa. The tests conducted on gravity concentrates showed recoveries of over 98% Au and 87% Ag within the same leach. These tests have been conducted over the last year using a mix of acids composed of sulfuric acid and thioria. The extraction (less than one hour) is accelerated by the use of ultrasound technology and the process uses no external heat or pressure.
  • Maverix Metals Inc. announced fourth quarter 2017 and full year production, including figures from La Colorada mine in Zacatecas. On La Colorada, Pan American Silver Corp. reported gold production of 1,258 ounces in Q4 2017 and 4,287 ounces for the full year 2017 at the La Colorada mine. Maverix has the right to purchase 100% of the payable gold production from La Colorada at the lesser of US$650/oz and the prevailing market price.
  • Torex Gold Resources Inc. informed that the processing plant continues to process 10 – 13 K tonnes per day (tpd) at its El Limon –Guajes mine in Guerrero. Recoveries have been approximately 85%, and grades close to 3 grams per tonne, with ore being processed from all three open pits, El Limon, Guajes, and El Limon Sur. At the January 30th meeting to set a date for the union selection vote, the Labour Board agreed on a meeting on February 13th, to set the date for the union selection vote. According to the company, the operations continue to ramp up with excellent support from local communities, unionized employees, staff employees, and contractors.
  • Coeur Mining Inc. reported fourth quarter and full year 2017 results, including figures from its Mexican operations. For the full year 2017, at Palmarejo in Chihuahua, 1.5 M tons were milled @ 169 g/t Ag, 2.89 g/t Au, recovering 86.0% Ag, 90.0% Au to produce 7.24 M Oz Ag, 121,569 Oz Au. The exploration expense at Palmarejo was $11.9 M in 2017, following the discovery of several new veins. Mining is now at a steady rate of approximately 4,500 tons per day.


  • Torex Gold Resources Inc. closed its previously announced bought deal financing for gross proceeds of C$61.7 M. “The net proceeds of the Offering will be used to fund and provide liquidity for its working capital obligations during the re-start and ramp-up of the ELG Mine Complex, as required….”. Cash reserves, prior to the close of the Offering, were US$64 M including US$14 M set aside for reclamation obligations (El Limon-Guajes, Guerrero).
  • Advance Gold Corp. closed its private placement financing for gross proceeds of $190 K (Tabasqueña, Zacatecas).
  • Colibri Resource Corp. is to proceed with a non-brokered private placement intending to raise up to CAD$1 M in gross proceeds. The funds are to be used on the drilling of it’s El Pilar project in Sonora.


  • Kootenay Silver Inc. released the results of the final 10 holes from the 2017 infill drilling campaign by Pan American Silver Corp. at the La Negra zone on the Promontorio project in Sonora. Drill highlights comprise: 50.65 m @ 136 g/t Ag, including 1.05 m @ 1,625 g/t Ag; 49.15 m @ 247 g/t Ag, including 14.55 m @ 515 g/t Ag; 59.20 m @ 237 g/t Ag, including 5.15 m @ 1,161 g/t Ag; 56.05 m @ 93 g/t Ag, including 10.30 m @ 309 g/t Ag; 11.05 m @ 106 g/t Ag; 95.85 m @ 79 g/t Ag, including 7.20 m @ 434 g/t Ag. The 2018 drill program is anticipated to developing drill targets outside of the La Negra discovery.
  • Avino Silver & Gold Mines Ltd. announced results from 19 holes on the Chirumbo, Guadalupe and San Juventino areas of the main Avino mine in the Avino property in Durango. The Chirumbo area is at the East of the Avino vein, with the holes intercepting several structures with results like 7.05 m @ 1.47 g/t Au, 27 g/t Ag; 8.85 m @ 0.80 g/t Au, 18 g/t Ag, 0.24% Cu; 5.50 m @ 5.18 g/t Au, 7 g/t Ag, 0.12% Cu; 21.3 m @ 0.22 g/t Au, 31 g/t Ag, 0.33% Cu; 5.80 m @ 4.75 g/t Au, 55 g/t Ag, 0.84% Cu; 18.45 m @ 82 g/t Ag; 39.35 m @ 0.24 g/t Au, 33 g/t Ag, 0.50% Cu; 38.95 m @ 15 g/t Ag, 0.31% Cu; 29.50 m @ 0.22 g/t Au, 37 g/t Ag, 0.72% Cu. Seven more holes at the Guadalupe vein, west of the Gonzalo vein, returned 3.55 m @ 2.29 g/t Au, 18 g/t Ag; 9.20 m @ 1.28 g/t Au, 89 g/t Ag, 0.88% Cu. At the intersection of the Avino-San Juventino and the Footwall breccia intersect, five holes were drilled returning 10.05 m @ 0.22 g/t Au, 88 g/t Ag; 17.65 m @ 0.16 g/t Au, 58 g/t Ag, 0.26% Cu; 12.40 m @ 0.17 g/t Au, 65 g/t Ag, 0.31% Cu; 21.05 m @ 19 g/t Ag, 0.21% Cu; 13.05 m @ 0.18 g/t Au, 53 g/t Ag; 16.00 m @ 0.89 g/t Au, 37 g/t Ag, 0.12% Cu; 7.65 m @ 0.16 g/t Au, 36 g/t Ag, 0.29% Cu; 23.75 m @ 0.070 g/t Au, 12 g/t Ag, 0.2% Cu.
  • Kootenay Silver Inc. released surface sample results from a new area with multi-gram gold and silver mineralization at its La Cigarra project in Chihuahua. “Gold mineralization has been traced by prospecting, mapping and sampling along mineralized structures within a broad area measuring 500 by 1000 meters. The gold trend is open on strike in both directions.” Highlighted grab and panel sample results comprise: 10.85 g/t Au, 179 g/t Ag, 7.8% Pb, 1.3% Zn; 4.59 g/t Au, 159 g/t Ag, 4.6% Pb, 0.3% Zn; 4.24 g/t Au, 81 g/t Ag, 4.3% Pb, 2.7% Zn; 12.35 g/t Au, 80 g/t Ag, 5.4% Pb, 0.7% Zn; 7.39 g/t Au, 64 g/t Ag, 5.0% Pb, 0.5% Zn; 5.41 g/t Au, 89 g/t Ag, 7.1% Pb, 0.2% Zn; 4.7 g/t Au, 33 g/t Ag, 3.1% Pb, 0.5% Zn; 4.63 g/t Au, 89 g/t Ag, 5.8% Pb, 0.5% Zn; 3.66 g/t Au, 28 g/t Ag, 3.2% Pb, 0.4% Zn.
  • Hecla Mining Co. reported updated mineral reserve and resources, including figures for its San Sebastian property in Durango. Proven and probable reserves in this property comprise 398 K tons @ 432 g/t Ag, 3.11 g/t Au containing 5.52 M Oz Ag, 43 K Oz Au. Measured and indicated resources stand at 1.5 M tons @ 175 g/t Ag, 2.25 g/t Au, 2.9% Pb, 3.8% Zn, 1.7% Cu, containing 8.8 M Oz Ag, 103 K Oz Au, 15,520 tons Pb, 20,350 tons Zn, 9,020 tons Cu. Inferred resources hold 2.9 M tonnes @ 166 g/t Ag, 0.96 g/t Au, 1.8% Pb, 2.5% Zn, 1.5% Cu containing 15.98 M Oz Ag,95 K Oz Au, 23,660 tones Pb, 23,770 tons Zn, 19,520 tons Cu.
  • Endeavour Silver Corp. reported updated mineral resources estimates for its operations in Mexico. Proven and probable mineral reserves on its Guanacevi (Durango), Bolañitos (Guanajuato), El Cubo (Guanajuato) and Terronera (Jalisco) properties amount to 5.27 M tonnes @ 198 g/t Ag, 1.86 g/t Ag; measured and indicated resources in these units and El Compas (Zacatecas), Guadalupe y Calvo (Chihuahua) and Parral (Chihuahua) amount to 5.12 M tonnes @ 192 g/t Ag, 1.90 g/t Au, while indicated resources for all units comprise 6.63 M tonnes @ 227 g/t Ag, 1.23 g/t Au. Indicated mineral resources with base metals on Guanacevi and Parral amount to 1.99 M tonnes @ 78 g/t Ag, 0.26 g/t Au, 0.78% Pb, 1.32% Zn, and inferred resources comprise 1.79 M tonnes @ 82 g/t Ag, 0.68 g/t Au, 2.23% Pb, 2.35% Zn. Reserves and measured and indicated resources add to 70.1 M Oz Ag, 362,900 Oz Au, while inferred resources hold 53.1 M Oz Ag, 300,800 Oz Au


  • Silver Viper Minerals Corp. signed a non-binding letter of intent (LOI) with Pan American Silver Corp. to acquire the La Virgina project in Sonora. The project consists of three concessions totaling 35,598 hectares near the border with Chihuahua. The LOI, combined with a LOI signed in December 2017 with the claim owners will restore all the original land holdings into a single exploration property. Silver Viper can acquire 100% ownership in return for a 2% net smelter return royalty over the entirety of Silver Viper’s consolidated La Virginia project. Past drilling includes 52,635.45 m in 188 holes, besides mapping and geochemistry of the property. Mineralization is characterized by low sulfidation epithermal gold-silver bearing quartz stockworks, veins and hydrothermal breccias hosted in andesites and felsic dykes.
  • Evrim Resources Corp. announced the acquisition of 50 square Km of prospective land adjacent to its Cuale prospect in Jalisco. The area immediately to the west and north of the claim group was staked, expanding the total project area to 147 Km. The high temperature footprint supported by Terraspec clay mineral identification has been extended to an area of 2.3 by 2.2 Km.
  • Coeur Mining Inc. announced the appointment of Eduardo Luna and Jessica L. McDonald to the board of directors. “Mr. Luna has spent over forty years in the precious metals mining industry and has held prior senior executive and board positions at several companies including Industrial Peñoles, Goldcorp Inc., Luismin SA de CV, Wheaton River Minerals Ltd., Alamos Gold Inc., and Primero Mining Corp. …”.” Ms. McDonald has extensive leadership experience in both the public and private sectors….” (Palmarejo, Chihuahua).
  • Wolverine Minerals Corp. intends to proceed to a name change to Aloro Mining Corp. (Los Venados, Sonora).
  • Primero Mining Corp. is to hold a special meeting of its shareholders and a meeting of holders to consider the proposed plan whereby First Majestic Silver Corp. will acquire all of the outstanding shares of Primero (San Dimas, Durango).

Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.


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