Ruins and old mine workings.
By Miguel A Heredia
During the 1st week of the year (December 31st, 2018 to January 6th, 2019), at least 11 press releases were announced by companies working in Mexico, with six disclosing deals and corporate issues, two announcing financing rounds, one communicating production results, one reporting on advances on their properties, and one informing on exploration results. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, Silver One announced an exploration plan for its Peñasco Quemado project in Sonora. ON MINING, Leagold reported 2018 production results from its Los Filos mine in Guerrero. ON FINANCING, Silver One increased its previously announced private placement to CAD$ 616,250 (Peñasco Quemado, Sonora). Avino announced a US ATM offering of up to US$ 8M (Avino mine, Durango). ON RESOURCES AND DEVELOPMENT, Consolidated Zinc submitted a detail costing study clarification on its Plomosas mine in Chihuahua. The study was based on the updated mineral resource. ON DEALS AND CORPORATE ISSUES, Silver Spruce appointed corporate and legal expertise to its Board of Directors (Pino de Plata, Chihuahua). Aura Minerals consolidated its common shares (Aranzazu mine, Zacatecas). Prize Mining announced management changes into its Board of Directors (Manto Negro, Coahuila). Pan American Silver recalled its shareholders to vote on the acquisition of Tahoe Resources Inc (Dolores mine, Chihuahua). Americas Silver amended its option agreement with Minera Hochschild Mexico S.A. de C.V. on the San Felipe project in Sonora. Consolidated Zinc increased ownership in its Plomosas mine in Chihuahua to 90%.
ON MEXICO ISSUES
- No relevant news.
- Silver One Resources Inc, announced an exploration plan to conduct a small drilling program at its Peñasco Quemado project in Sonora. This drill program will consists of 1,000m to test some of the strong anomalous Zn-Pb values in soil and geophysical anomalies and proof if the property has potential to contain Zn-Ag-Pb mineralization similar to that identified at the Hermosa-Taylor deposit in Arizona.
- Leagold Mining Corporation, reported 2018 production results from its Los Filos mine in Guerrero. The company produced 195, 362 Oz Au during the full year and announced that studies related to the expansion of Los Filos mine will be released next week.
- Silver One Resources Inc., increased its previously announced private placement to CAD$ 616,250. Gross proceeds will be used to conduct drilling at its Peñasco Quemado project in Sonora.
- Avino Silver & Gold Mines Ltd., announced a US ATM offering of up to US$ 8M (Avino mine, Durango).
ON RESOURCES AND DEVELOPMENT
- Consolidated Zinc Limited, submitted a detail costing study clarification on its Plomosas mine in Chihuahua, based on the updated mineral resource (indicated and inferred resources), which “should not be referred to as a bankable feasibility study as the JORC Code does not allow a bankable feasibility study to be completed based on inferred resources”. During Q1-2019, Consolidated Zinc will intend to recast the study in terms of the JORC Code.
ON DEALS AND CORPORATE ISSUES
- Silver Spruce Resources Inc., appointed corporate and legal expertise to its Board of Directors (Pino de Plata, Chihuahua).
- Aura Minerals Inc., consolidated its common shares on the basis of one new share for ten old shares (Aranzazu mine, Zacatecas).
- Prize Mining Corporation, announced management changes into its Board of Directors (Manto Negro, Coahuila).
- Pan American Silver Corp., recalled its shareholders that they have until 10 AM Vancouver time on Friday, January 4, 2019 to vote on the acquisition of Tahoe Resources Inc. to create the world´s premier silver mining company (Dolores mine, Chihuahua).
- Americas Silver Corporation, amended its option agreement with Minera Hochschild Mexico S.A. de C.V. on the San Felipe Ag-Zn-Pb project in Sonora. They have agreed to extend the timing of payments and now, the remaining cash payment of US$ 6M plus VAT is to become due and payable in 8 quarterly amounts of US$ 750K over a two-year period. The quarterly payments are expected to begin at or following the end of Q1-2019.
- Consolidated Zinc Limited, increased ownership in its Plomosas mine in Chihuahua to 90% through an increased shareholding in Minera Latin American Zinc SAPI CV (MLAZ). The additional 39% interest in MLAZ interest was obtained by making a cash payment of A$ 750K, and issue of shares in Consolidated Zinc Limited to the value of A$ 1.7M.
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 above, ruins and old mine workings along an epithermal Au-Ag vein in a project in Sonora, Mexico. Photo by Miguel A Heredia.