The Mining and Exploration News in Mexico: Highlights on the Fourth Week of November, 2020

By Jorge Cirett

During the 48th week of the year (November 23rd to November 29th, 2020), at least 22 press releases were announced by companies working in Mexico. To note, seven companies posted exploration advances on their properties and seven more published on project development. ON MEXICO ISSUES, Mining concessions surface has been reduced by 21% in this federal administration. Camimex delivered its “Cascos de Plata” awards. The COVID pandemic has accelerated the digital transformation in mining. ON EXPLORATION, in Sonora, Silver Viper informed on the status of exploration at its La Virginia project; Tarachi Gold released high-grade results from drilling at La Dura, on its Tarachi project. In Chihuahua, Reyna Silver has received drill permits for Guigui. In Sinaloa, GR Silver delineated a new mineralized zone at Plomosas; Brigadier Gold released high-grade results from the first holes at Picachos. Vizsla released assays from the first hole at the Agüita Zarca prospect in Panuco. In Puebla, Almaden Minerals reported on exploration of the SE zone at Ixtaca.  ON MINING, Impact Silver released third quarter financial results. Telson Mining began to send ore from Tahuehueto to a toll mill. ON FINANCING, Candente Gold closed a financing round raising $250 K. Alien Metals raised £2.5 M. ON RESOURCES AND DEVELOPMENT, Great Panther Mining updated the mineral resource estimate at its Guanajuato mine Complex. Minera Alamos has received the last significant permit to start plant construction at La Fortuna in Durango. Prime Mining mobilized the first rig to Los Reyes, Sinaloa. Sonoro Gold released results from 20 more drill holes at Cerro Caliche, Sonora. Premier Gold Mines reported results from delineation drilling at Mercedes, Sonora. Discovery Metals informed on drilling targeting bulk tonnage and high-grade veins at Cordero, Chihuahua. Orla Mining informed on the start of earth-moving activities at Camino Rojo, Zacatecas.  ON DEALS AND CORPORATE ISSUES, Candente gold is changing name to Xali Gold Corporation. Candelaria Mining sold a 0.5% royalty on production from Pinos, Zacatecas. ON SOCIAL RESPONSIBILITY, Peñoles and Fresnillo PLC informed on programs to aid communities near their operations. Newmont informed on a plan to achieve zero-emissions by 2050.

ON MEXICO ISSUES

  • The current federal government reduced by 21% the surface under mining concessions. This as a result of a strict review on the concessions current at the start of the federal administration, and the denial to issue new titles by the president.
  • Camimex (Cámara Minera de México) delivered the “Cascos de Plata” (Silver hard hats) awards to the six mining units with the best safety records in Mexico. The awards went to Agnico Eagle Mexico, Grupo Mexico’s La Caridad, America’s Gold & Silver Cosalá, Velardeña (Peñoles), Grupo Mexico’s Planta ESDE and Grupo Mexico’s Refinería Electrolítica de Zinc.
  • Mining companies state the COVID pandemic has accelerated the digital transformation and advanced automatization.

ON EXPLORATION

  • GR Silver Mining Ltd. Delineated a new mineralized zone, Yecora, from drilling in the San Juan area of its Plomosas project in Sinaloa. Highlighted results comprise 5.5 m @ 264 gpt Ag, 0.4 gpt Au, 0.3% Pb, 0.6% Zn; 19.0 m @ 49 gpt Ag, 1.8 gpt Au, 0.8% Pb, 1.4% Zn; 25.2 m @ 82 gpt Ag, 0.5 gpt Au, 0.9% Pb, 0.5% Zn; 3.2 m @ 27 gpt Ag, 0.3 gpt Au, 3.0% Pb, 11.4% Zn; 7.1 m @ 7.5% Zn, 2.4% Pb, 0.9 gpt Au; 3.3 m @ 11.3% Zn; 0.4 m @ 10.2 gpt Au, 2.1% Zn. “The San Juan Trend now extends for at least 2 km along strike, consisting of at least six mapped veins: San Juan, La Colorada, Yecora, Loma Dorada, La Odisea and San Francisco”.
  • Silver Viper Minerals Corp. informed on exploration at its La Virginia project in Sonora. The property was previously explored by Pan American Silver and Minefinders which sunk 188 drill holes for a total of 52,000 m of diamond drilling. Silver Viper acquired the project in 2018, starting by drilling gaps in the Las Huatas and Convirginia zones, and sunk five holes in a new area, El Rubi, where a new discovery was made in a zone with quartz veins, stockworks and breccias. In 2019 most work was a follow-up on El Rubi, with mapping and rock sampling, with a second drill campaign commencing by the end of that year that now has more than 15,000 m drilled. The company notes that hole LV20-245 (the last released, with 110 m @ 38 gpt Ag, 0.76 gpt Au) drilled 100 m west of El Rubi is a second discovery, showing the potential for open pit mining at the zone.
  • Reyna Silver Corp. has received drill permits for the Guigui project in Chihuahua. “The Guigui Project is located in the heart of the Santa Eulalia Mining District, home to Mexico’s largest Carbonate Replacement Deposit (CRD). The Santa Eulalia Mining District has produced 510 M Oz of silver, 4.2 MT of lead, 3.6 MT of zinc, at average grades of 310 g/t Ag, 8.2% Pb and 7.1% Zn.
  • Brigadier Gold Ltd. released results from the first three diamond holes of a 5,000 m program at its 3,954 hectares Picachos property on the Rosario district in Sinaloa. The 18th hole is being drilled, with the first 14 testing 225 m of strike length on the San Agustin vein and the rest now testing Los Tejones. Highlighted core length intercepts comprise 7 m @ 7.45 gpt Au, 51 gpt Ag (including 1 m @ 45.63 gpt Au); 1 m @ 1.33 gpt Au, 22 gpt Ag; 4.5 m @ 2.89 gpt Au, 50 gpt Ag (including 2 m @ 6.12 gpt Au, 52 gpt Ag); 2 m @ 2.71 gpt Au, 24 gpt Ag. Trench sampling returned 7 m @ 0.39 gpt Au, 53 gpt Ag; 1.5 m @ 7.53 gpt Au, 113 gpt Ag; 1.55 m @ 15.49 gpt Au, 109 gpt Ag (including 0.35 m @ 66.36 gpt Au, 99 gpt Ag); 1 m @ 3.21 gpt Au, 184 gpt Ag; 5 m @ 4.89 gpt Au, 67 gpt Ag.   
  • Tarachi Gold Corp. released results from underground diamond drill holes at La Dura mine on the Jabali concession of the Tarachi project in Sonora. Highlighted core length intercepts comprise 7.0 m @ 2.30 gpt Au; 14.5 m @ 5.49 gpt Au (including 7.0 m @ 9.67 gpt Au); 8.0 m @ 0.31 gpt Au; 20.1 m @ 4.54 gpt Au (including 10.0 m @ 7.48 gpt Au). Mineralization at La Dura is defined by a series of steeply dipping crackle brecciated quartz veins in dacitic volcanic rocks.
  • Vizsla Resources Corp. released results from the first hole drilled at the Agüita Zarca prospect of the Cordon de Oro vein at its Panuco project in Sinaloa. The drill hole intercepted core length intercepts of 18.15 m @ 118 gpt Ag, 3.71 Au (457 gpt AgEq), including 5.95 m @ 244 gpt Ag, 10.49 gpt Au (1,208 gpt AgEq). Directly above this intercept there is a trench channel sampling that returned 0.49 gpt Au, 161 gpt Ag (197 gpt AgEq).
  • Almaden Minerals Ltd. reported results from initial surface sampling of veins discovered in the Southeast Alteration Zone of the Ixtaca project in Puebla. These veins were discovered while mapping a clay alteration zone in volcanic rocks, and although not containing precious metals, show high values of trace elements for shallow epithermal systems.

ON MINING

  • Impact Silver Corp. released third quarter 2020 financial results. Average mill feed was 166 gpt Ag. “Silver production year to date 2020 was only down 4% compared to 2019 at 462,231 ounces despite the COVID-19 official shutdown required by Mexican government from April to June 2020”. Cash at the end of the period was $17.4 M.
  • Telson Mining Corp. has begun to send ore from its Tahuehueto project in Durango to the Atocha toll beneficiation plant. To date 3,000 tonnes have been delivered, of 3,500 tonnes on the current program. Telson informed that it is waiting for the final financing to finish the construction of a 1,000 tonnes per day plant at Tahuehueto.

ON FINANCING

  • Candente Gold Corp. closed the non-brokered private placement previously announced, raising a total of $200 K (El Oro, Estado de México).
  • Alien Metals Ltd. informed on the oversubscription of a financing placement that raised £2.5 M in gross proceeds.

ON RESOURCES AND DEVELOPMENT

  • Great Panther Mining Ltd.  updated the mineral resource estimate at its Guanajuato mine Complex, to July 31, 2020. The complex is comprised by the Guanajuato and San Ignacio underground mines and the 1,000 tpd Cata plant. The estimate includes 19,913 m of drilling in 199 holes since the previous resource calculation. The total resource comprises 821.8 K tonnes @ 199 gpt Ag, 2.07 gpt Au in the measured and indicated category and 1,453 K tonnes @ 185 gpt Ag, 2.25 gpt Au in the inferred category, containing 5.24 M Oz Ag, 54,693 Oz Au and 8.66 M Oz Ag, 105,219 Oz Au respectively. The company is working with permitting authorities to expand the capacity of the tailings storage facility, to extend operations beyond January 2021.
  • Minera Alamos Inc. informed the company has received the approval of the MIA (Manifestación de Impacto Ambiental or Environmental Impact Statement) from SEMARNAT for its La Fortuna project in Durango. The company possesses all the key federal approvals necessary for a 2,000 tonnes per day mine and plant construction.
  • Prime Mining Corp. has mobilized the first of at least two rigs for the incoming 10,000 m drill campaign at its Los Reyes project in Sinaloa. Furthermore, recent trench results were released, including 36 m @ 2.12 gpt Au, 19 gpt Ag; 9.0 m @ 0.43 gpt Au, 16 gpt Ag; 13.5 m @ 0.92 gpt Au, 31 gpt Ag; 33 m @ 1.47 gpt Au, 22 gpt Ag; 25.5 m @ 3.51 gpt Au, 32 gpt Ag; 51 m @ 1.37 gpt Au, 132 gpt Ag. Re-logging of core has found that adularia appears to be vertically zoned, which might aid in targeting high-grade zones.
  • Sonoro Gold Corp. reported results from 20 additional reverse circulation (RC) holes at its Cerro Caliche project in Sonora. Highlighted results comprise 45.72 m @ 0.97 gpt Au, 4 gpt Ag; 6.09 m @ 3.99 gpt Au, 9 gpt Ag; 1.52 m @ 7.80 gpt Au, 15 gpt Ag; 9.14 m @ 0.46 gpt Au, 12 gpt Ag; 10.67 m @ 0.96 gpt Au, 13 gpt Au; 13.72 m @ 0.30 gpt Au; 12.19 m @ 0.94 gpt Au, 3 gpt Ag; 1.52 m @ 2.26 gpt Au, 34 gpt Ag; 27.43 m @ 0.48 gpt Au, 1 gpt Ag; 16.76 m @ 0.33 gpt Au, 6 gpt Ag; 4.57 m @ 0.54 gpt Au, 6 gpt Ag; 9.15 m @ 0.54 gpt Au, 6 gpt Ag; 4.57 m @ 1.03 gpt Au, 6 gpt Ag; 1.52 m @ 2.64 gpt Au, 6 gpt Ag; 13.71 m @ 0.36 gpt Au; 19.81 m @ 0.57 gpt Au, 5 gpt Ag; 6.1 m @ 0.66 gpt Au, 6 gpt Ag; 6.1 m @ 0.46 gpt Au, 7 gpt Ag; 15.24 m @ 0.45 gpt Au, 3 gpt Ag.
  • Premier Gold Mines Ltd. reported on results from its delineation core drilling campaign at its Mercedes mine in Sonora. Highlighted true width results comprise 12.7 m @ 10.17 gpt Au, 294 gpt Ag; 8.1 m @ 7.49 gpt Au, 57 gpt Ag; 2.8 m @ 5.29 gpt Au, 30 gpt Ag at Marianas, 4.2 m @ 10.03 gpt Au, 119 gpt Ag; 2.3 m @ 5.31 gpt Au, 131 gpt Ag at San Martin and 10.2 m @ 7.12 gpt Au, 26 gpt Ag; 56.6 m @ 2.99 gpt Au, 12 gpt Ag (including 12.2 m @ 4.47 gpt Au, 21 gpt Ag); 14.2 m @ 4.86 gpt Au, 31 gpt Ag; 13.2 m @ 6.83 gpt Au, 27 gpt Ag at Diluvio stockwork zone. Marianas is the down plunge of the main Mercedes mine trend, composed of three main veins: Main, West and East. The San Martin vein was discovered by drilling in 2019, and Diluvio West consists of a vein stockwork system with a broad envelope.
  • Discovery Metals Corp. informed it has now completed 43,640 m of drilling in 111 holes as part of its expanded 55,000 m program at Cordero, Chihuahua. The focus has been on bulk tonnage targets and high-grade veins. Bulk tonnage targeting shifted from the North Corridor to the South Corridor, where broad zones of mineralization have been intercepted. On high-grade veins, the Todos Santos vein trend has been extended to 1.5 km, and the Porcinera vein to 350 m, both with high-grade intercepts.
  • Orla Mining Ltd. announced the start of earth moving activities at its Camino Rojo Oxide project in Zacatecas. “All permit conditions have been satisfied, including placing of an environmental bond, for site activities to begin. Major contracts for earth moving and civil works have been awarded and detailed engineering is 90% complete. Current activities include mobilization of the earthworks contractor, installation of the construction camp and offices, flora and fauna rescue, as well as site fence erection”.

ON DEALS AND CORPORATE ISSUES

  • Candente Gold Corp. announced the decision to change name to Xali Gold Corp.
  • Candelaria Mining Corp. sold a 0.5% NSR on production from the Pinos project, in Zacatecas, to Empress Royalty Corp. for US$750 K. Empress also purchased an additional 0.5% NSR from a previous royalty holder. The Pinos project is subject to NSR royalties of 2.0%.

ON SOCIAL RESPONSIBILITY

  • Industrias Peñoles is working along with the Teloloapan municipality museum, aiding with an augmented reality presentation in 3D of mining and metallurgic processes, that can be accessed in smart phones and tablets.
  • Fresnillo PLC reforested 7 hectares in Caborca and the surrounding communities during the last four years.
  • Newmont plans to reduce emission of CO2 by 30% and then achieve the zero-emissions target by 2050.

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

On the image below: Sulfide rich mantos in core from Cerro San Pedro, San Luis Potosí. Picture by Jorge Cirett.

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