The Mining and Exploration News in Mexico: Highlights on the Fourth Week of January, 2021.

Stibiconite crystals

By Miguel A Heredia

During the fourth week of the year (January 25th to January 31st, 2021), at least 43 press releases were announced by companies working in Mexico and 9 news published by the media, with twelve informing on exploration results, ten disclosing deals and corporate issues, nine announcing financial rounds, seven reporting on resources and development of their mine operations, six commenting on Mexican issues, five  communicating production and financial results, and three discussing social issues.  ON MEXICO ISSUES, Odyssey has been notified that the First Memorial filed in September 2020 in its pending North American Free Trade Agreement (NAFTA) case against Mexico has now been published by the International Centre for Settlement of Investment Disputes (ICSID). Mexico is the mining market with the highest tax burden compared to Canada, Chile, Peru, and the United States.  Fernando Alanís, president of the Mining Chamber of Mexico (CAMIMEX) declared that Mexico captured USD $2.5 B of investment in the mining sector in 2020, its lowest level in the last 13 years.  Ministry of Economic Development and Labor of Guerrero State seeks to recover jobs at Minera Media Luna (Torex Gold). The Mining Chamber of Mexico (CAMIMEX) presented its first Sustainability Report 2020. Businessmen from the mining and energy sector joined in the proposal to put a limit on the participation of workers in company profits (PTU) and to link them to productivity. ON EXPLORATION, In Sonora, Carlyle and Riverside announced the start of its first drilling program by early February at its Cecilia project and Aztec Minerals and its JV partner Kootenay announced plans for a two-phase exploration program at its Cervantes project. In Chihuahua, Mammoth commenced its 2021 field exploration program at its Tenoriba project, Consolidated Zinc reported exploration results from Potrero and Don Lucas targets, and Golden Minerals discovered new vein at its Yoquivo project. In Sinaloa, Vizsla released drill results from eighth holes collared at the Papayo prospect at its Panuco project, and Mithril provided an update on the exploration activities performed during the period Q4, 2020 at its Copalquin project.  In Jalisco, GoGold announced a new discovery at El Orito in its Los Ricos North project. In Veracruz, Azucar Minerals provided an update on drilling activities at its El Cobre project.  ON MINING, Consolidated Zinc reported Q4, 2020 production results from its Plomosas mine in Chihuahua. Endeavour reported 2021 production and cost guidance for their Mexican operations. Fresnillo plc reported Q4, 2020 from their Mexican operations. Gold Resource announced Q4, and full year 2020 production results from its Oaxaca Mining Unit in Oaxaca. Mag Silver reported Q4, 2020 production results from its Juanicipio project in Zacatecas.  ON FINANCING, Argonaut announced a $23M bought-deal public offering (El Castillo mine, Durango). VanGold increased its previously announced non-brokered private placement financing to $14.55M (El Pinguico project, Guanajuato).  Americas Gold and Silver closed its previously announced bought deal financing for aggregate gross proceeds of CAD $33.9M (Cosala mine, Sinaloa). Gainey announced that it has arranged a non brokered private placement for gross proceeds of up to CAD $500K (El Colomo, Nayarit). Mithril raised A $5M through a share placement (Copalquin project, Durango).  Elementals Royalties announced that its common shares are now eligible for electronic clearing and settlement (Mercedes mine, Sonora). Gold Resource declared January 2021 monthly dividend (Oaxaca Mining Unit, Oaxaca). Ridgestone closed the remaining tranche of its previously announced non-broken private placement for gross proceeds of $695K (Rebeico project, Sonora). ON RESOURCES AND DEVELOPMENT, Fabled presented initial diamond drill results from its Santa Maria project in Chihuahua. Capstone announced an updated technical report for its Cozamin mine in Zacatecas. Comet provided an updated Q4, 2020 activities report (Santa Teresa project, Baja California).  Oroco reported significant 3D IP survey results at its Santo Tomas project in Sinaloa. VanGold commenced a 12-14 drill holes program at its Pinguico project in Guanajuato. Minera Alamos provided a construction update at its Santana project in Sonora.   Great Panther announced an update on exploration strategy and programs for 2021 (Topia mine, Durango).  ON DEALS AND CORPORATE ISSUES, Mexican Gold engaged JDS Energy & Mining Inc., for a PEA at its Las Minas project in Veracruz. Canuc doubled its land position at San Javier project in Sonora. Magna Gold appointed its new CFO (San Francisco mine, Sonora). Defiance Silver entered into an option agreement to double its land position at its Tepal project in Michoacan. Vizsla announced strengthening of its senior management team and board (Panuco project, Sinaloa). First Majestic responded to market activity (San Dimas property, Durango). Mexican Gold appointed two new members as technical advisors (Las Minas project, Veracruz). Discovery Metals named to the 2021 OTCQX Best 50 (Cordero project, Chihuahua). Gainey provided an update on its Mexican projects and corporate activities (El Colomo project, Nayarit). Orex announced board changes and a grant of options (Sandra project, Durango). Magna Gold provided a letter to all of its shareholders in which it explained the strategy used to grow the company through strategic acquisitions and targeted exploration to evolve from a junior exploration company to an intermediate gold producer in Mexico (San Francisco mine, Sonora).  ON SOCIAL RESPONSIBILITY, Fresnillo plc strengthens education in times of pandemic. Peñoles reaffirms its commitment to promoting education through the implementation of academic programs that seek to develop skills and tools so that children and young people in Mexico aspire to a better future. The companies Autlán, Grupo México, Industrias Peñoles, Newmont-Peñasquito, Fresnillo plc and Coeur Mining participate in water management projects that were highlighted by the Mexican Mining Chamber (CAMIMEX) in its 2020 sustainability report.

ON MEXICO ISSUES

  • Odyssey Marine Exploration Inc., has been notified that the First Memorial filed in September 2020 in its pending North American Free Trade Agreement (NAFTA) case against Mexico has now been published by the International Centre for Settlement of Investment Disputes (ICSID). The $2.3 billion claim against Mexico under NAFTA relates to the unlawful denial of the environmental permit for subsidiary Exploraciones Oceanicas’ (ExO’s) offshore phosphate project.
  • Mexico is the mining market with the highest tax burden compared to Canada, Chile, Peru, and the United States, the main competing countries on the continent in terms of mining, according to the Mexican Mining Chamber (CAMIMEX). Mining faces heavy tax burden making the sector less competitive. 
  • Fernando Alanís, president of the Mining Chamber of Mexico (CAMIMEX) declared that Mexico captured USD $2.5 B of investment in the mining sector in 2020, its lowest level in the last 13 years. Mexico is a mining power globally. In 2019 it ranked among the top 10 positions in the world production of 17 minerals, including first in silver, second in fluorite, third in celestite and wollastonite, sixth in zinc, seventh in salt, eighth copper and ninth in gold, among others. Mining stands out as an activity that generates jobs, investments, foreign exchange, infrastructure, regional value chains, local consumption and contribution to social development. In 2019, the mining-metallurgical Gross Domestic Product (GDP) represented 8.1% of the industrial GDP and 2.3% of the national GDP.
  • Ministry of Economic Development and Labor of Guerrero state seeks to recover jobs at Minera Media Luna. The investment of USD $500M in the mining activity by Torex Gold in the municipality of Cocula, the creation of commercialization spaces through virtual stores on the Mercado Libre platform and the linking of credit institutions with small and Guerrerenses micro companies are some of the strategies that are implemented to recover more than 15 thousand formal jobs that were lost during 2020 in Guerrero.
  • The Mining Chamber of Mexico (CAMIMEX) presented its first Sustainability Report 2020. The publication is divided into three chapters, corresponding to good practices in mining in the social, environmental and economic spheres. Highlighted that the companies affiliated to CAMIMEX represent 90% of the value of the industry, and have a presence in 696 communities, in 24 states of the Mexican Republic. Regarding the regulations to which mining projects are subject to operate, mentioned a total of 1,077 rules, laws, norms, guidelines and agreements, in matters of labor competition, health, environment, fiscal, agrarian, etc. regarding some of the taxes paid by the mining, Fernando Alanís indicated that in 2019 a total of MXP $39,017M was contributed, for concepts such as ISR, surface rights, and new rights, and that the amount rose to MXP $ 131,016M in a period of four years. In 2019, mining companies invested MXP $ 1,056M in social development (in addition to the MXP $3,496M raised that year for the Mining Fund), managing to directly benefit more than one and a half million people.
  • Businessmen from the mining and energy sector joined in the proposal to put a limit on the participation of workers in company profits (PTU) and to link them to productivity. Fernando Alanís Ortega, president of the Mining Chamber of Mexico, highlighted that “continuing to manage PTU as a percentage of profit is essentially to consider it as if it would be an additional tax burden and it reduces our competitiveness. ”He proposed“to find how to relate the PTU to productivity factors”, so that it is the result of the effort and not of metal prices, as is currently the case.

ON EXPLORATION

  • Carlyle Commodities Corp. and Riverside Resources Inc., announced the start of its first drilling program by early February at its Cecilia project. Riverside as operator of the JV has designed six holes to test the un-drilled San Jose structure on the Cerro Magallanes where rock sampling returned up to 48.3 g/t Au over 0.75m. The San Jose target is one of the five major targets identified at the Cerro Magallanes rhyolitic dome.
  • Aztec Minerals Corp., and its JV partner Kootenay Silver Inc, announced plans for a CAD $1.3M, two-phase exploration program at its Cervantes project in Sonora. The JV plans to start a phase 1, CAD $85K program of soil and rock sampling and geological mapping during Q1, 2021 to extend the 100m by 100m geological and geochemical grid to the north, west and east boundaries of the property, and subject to phase 1 results and available funds, initiate a phase 2, CAD $1.05M drill program in Q3, 2021 consisting of 5,000m RC program in 22 holes, to test four main target: California, California North, Jasper, and Purisima East.
  • Vizsla Resources Corp., released drill results from eighth holes collared at the Papayo prospect at its Panuco project in Sinaloa. These drill results have expanded the Papayo zone over 120m o the south where it remains open. Significant drill intercepts were encountered in hole NP-20-50 with 198 g/t Ag, 0.96 g/t Au, 1.4% Pb, and 4.5% Zn (413 g/t AgEq) over 1.91m of true width (TW), including 478 g/t Ag, 2.19 g/t Au, 3.7% Pb, and 11.7% Zn (1,009 g/t AgEq) over a TW of 0.69m, and hole NP-20-36 with 144 g/t Ag, 1.21 g/t Au, 0.7% Pb, and 2.4% Zn (321 g/t AgEq) over a TW of 2.46m. 
  • Mithril Resources Ltd., provided an update on the exploration activities performed during the period Q4, 2020 at its Copalquin project in Sinaloa. The company informed that it has completed its maiden drill program of 7,188m of diamond core drilling. Results of the drilling confirmed that El Refugio-El Comets target is part of a large gold-silver epithermal system characterized by extensive surface alteration and rhyolite dome intrusions. The very high grade La Soledad and Leon veins intercepted at the start of the program are also part of this larger epithermal system. Drilling extension at depth and along strike is a key feature of the exploration for 2021.
  • Mammoth Resources Corp., commenced its 2021 field exploration program at its Tenoriba project. The company is currently installing the grid for the infill IP/Mag geophysics survey which is expected to begin in early-mid February. This geophysics survey will assist in 3D modeling of surface and subsurface features to generate drill hole locations and design a drill program scheduled to commence towards the end of the current quarter.
  • Consolidated Zinc Ltd., reported exploration results from the Potrero and Don Lucas targets during Q4, 2020. The company continued the regional mapping and sampling of the mineralized structures identified previously. A total of 67 samples were taken of which 48 samples collected at Potreros- Don Lucas targets returned discouraging results downgrading the prospectivity for economic gold mineralization. Results from 19 samples, including 10 from the Enrique and La Chona areas remain pending and will be released once they are available.
  • Golden Minerals Company, announced results from its recent 3,400m, 15-hole drill campaign and discovered new vein at its Yoquivo project in Chihuahua. Significant drill intercepts were encountered in hole YQ-20-001 collared at Pertenencia Vein with 2.34 g/t Au and 190 g/t Ag (364 g/t AgEq) over 4.2m, including 5.69 g/t Au and 223 g/t Ag (650 g/t AgEq) over 1.3m; hole YQ-20-002 collared at Pertenencia Vein with 0.45 g/t Au and 150 g/t Ag (184 g/t AgEq) over 1.9m, including 1.14 g/t Au and 423 g/t Ag (509 g/t AgEq) over 0.6m; hole YQ-20-006 collared at Esperanza Vein with 1.77 g/t Au and 49 g/t Ag (190 g/t AgEq) over 3.6m, including 5 g/t Au and 118 g/t Ag (524 g/t AgEq) over 1m; hole YQ-20-010 collared at New Vein with 1.9 g/t Au and 135 g/t Ag (278 g/t AgEq) over 5.4m, including 15.4 g/t Au and 1,150 g/t Ag (2,305 g/t AgEq) over 0.2m; and hole YQ-20-011 collared at New Vein with 1.3 g/t Au and 225 g/t Ag (323 g/t AgEq) over 12.3m, including 4.2 g/t Au and 734 g/t Ag (1,049 g/t AgEq) over 3m. The company plans to follow with a second phase drill program which could start in the next few months.
  • GoGold Resources Inc., released results from six initials drill holes and announced a new discovery at El Orito in its Los Ricos North project in Jalisco. Significant drill intercepts were encountered in hole LRGO-20-002 with 76 g/t Ag, 0.06 g/t Au, 0.16% Cu, 3% Pb, and 0.14% Zn (171 g/t AgEq) over 63.4m, including 170 g/t Ag, 0.1 g/t Au, 0.29% Cu, 7.5% Pb, and 0.07% Zn (384 g/t AgEq) over 23m, including 267 g/t Ag, 0.23 g/t Au, 0.22% Cu, 11.5% Pb, and 0.07% Zn (579 g/t AgEq) over 5.3m, including 320 g/t Ag, 0.11 g/t Au, 0.15% Cu, 14.4% Pb, and 0.08% Zn (686 g/t AgEq) over 6.7m; and hole LRGO-20-005 with 49 g/t Ag, 0.05 g/t Au, 0.45% Cu, 3% Pb, and 4.7% Zn (323 g/t AgEq) over 43m, including 85 g/t Ag, 0.11 g/t Au, 0.83% Cu, 4.8% Pb, and 7.6% Zn (538 g/t AgEq) over 14.3m. The known strike length of the El Orito – El Favor structure is now approaching 2,500m and is still open in both directions.
  • Azucar Minerals Ltd., provided an update on drilling activities at its El Cobre project in Veracruz. The company completed hole EC-20-108 at El Primo target, and announced that the deeper part intersected mostly propylitically altered intrusive rocks. Azucar also has moved the drill to Porvenir area and has completed two holes there and a third one is in progress. The company intends to continue exploration at the Primo, Porvenir, and Villa Rica targets in an effort to further delineate resource potential at the project beyond that contained in the initial Norte Zone resource estimate.

ON MINING

  • Consolidated Zinc Ltd., reported Q4, 2020 production and financial results from its Plomosas mine in Chihuahua. The company mined 7,910 tonnes with a further 2,891 tonnes mined and stockpiled underground due to poor haul truck availability for a total of 10801 tonnes grading 14.5% Zn, 8% Pb, and 50 g/t Ag from which, 6,842 tonnes of 14.3% Zn, 8% Pb, and 50 g/t Ag were processed to produce 423 tonnes of Zn concentrate and 45 tonnes of Pb concentrate, at a cash cost of $1.02 per Lb Zn produced and a cash cost of $1.05 per Lb Zn sold.
  • Endeavour Silver Corp., reported 2021 production and cost guidance for its three silver-gold mines in Mexico, the Guanacevi mine in Durango, the Bolañitos mine in Guanajuato and the El Compas mine in Zacatecas. The table below shows 2021 production and cost guidance for their Mexican operations:
  • Fresnillo plc reported Q4, 2020 from their Mexican operations. At Fresnillo mine, Zacatecas, the company processed 590,499 tonnes of 190 g/t Ag, 0.71 g/t Au, 1.1% Pb, and 2.2% Zn to produce 3.2M Oz Ag, 9,485 Oz Au, 11.58M Lb Pb, and 19.95M Lb Zn. At Saucito mine, Zacatecas, the company processed 671,429 tonnes of 195 g/t Ag, 1.4 g/t Au, 1.65% Pb, and 2.95% Zn to produce 3.4M Oz Ag, 23.2K Oz Au, 20.6M Lb Pb, and 30.95M Lb Zn. At its Pyrite Plant, Fresnillo processed 47,860 tonnes of 172 g/t Ag and 1.64 g/t Au to produce 194K Oz Ag and 820 Oz Au. At Cienega mine, Durango, Fresnillo processed 334,977 tonnes of 1.36 g/t Au, 139 g/t Ag, 0.6% Pb, and 1.1% Zn to produce 13.6K Oz Au, 1.3M Oz Ag, 2.95M Lb Pb, and 4.58M Lb Zn. At San Julian mine (Veins), Chihuahua-Durango border, the company processed 315,863 tonnes of 1.58 g/t Au and 103 g/t Ag to produce 15.1K Oz Au and 965K Oz Ag, while at San Julian mine (Disseminated Ore Body) it processed 572,962 tonnes of 0.09 g/t Au, 172 g/t Ag, 0.5% Pb, and 1.3% Zn to produce 925 Oz Au, 2.76M Oz Ag, 4.49M Lb Pb, and 12.95M Lb Zn. At Herradura mine, Sonora, the company processed 6,875,196 of 0.76 g/t Au and 1.5 g/t Ag to produce 134.4K Oz Au and 231K Oz Ag. At Noche Buena mine, Sonora, Fresnillo processed 1,638,305 tonnes of 0.5 g/t Au and 0.84 g/t Ag to produce 17.7K Oz Au and 9K Oz Ag.
  • Gold Resource Corporation, announced Q4, and full year 2020 production results from its Oaxaca Mining Unit in Oaxaca.  The company produced in Q4, 2020 a total of 6,854 Oz Au and 276.9K Oz Ag for a full year production during 2020 of 20,473 Oz Au and 1.19M Oz Ag. Preliminary annual base metal production included approximately 3.5M Lb Cu, 17M Lb Pb, and 43.4M Lb Zn.
  • Mag Silver Corp., reported Q4, 2020 production results from its Juanicipio project in Zacatecas. The company processed 30,397 tonnes to produce 230K Oz Ag and 443 Oz Au.

ON FINANCING

  • Argonaut Gold Inc., announced a $23M bought-deal public offering of flow-through common shares (El Castillo mine, Durango).
  • VanGold Mining Corp., increased its previously announced non-brokered private placement financing to $14.55M (El Pinguico project, Guanajuato). 
  • Americas Gold and Silver Corporation closed its previously announced bought deal financing for aggregate gross proceeds of CAD $33.9M. Part of the gross proceeds will be used for care and maintenance at the company´s Cosala operation mine in Sinaloa, as well as for general corporate and administrative expenses, repayment of outstanding debt obligations, and working capital.
  • Gainey Capital Corp., announced that it has arranged a non brokered private placement for gross proceeds of up to CAD $500K. The company plans to use the gross proceeds for due diligence on potential mineral concessions the company is currently looking, as well as for general working capital (El Colomo, Nayarit). 
  • Mithril Resources Ltd., raised A $5M through a share placement.   Now, the company is fully funded to continue the drilling program of over 10,000m at its Copalquin project in Durango.
  • Elementals Royalties Corp., announced that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company. Elemental’s common shares will continue to trade under the ticker symbol “ELEMF” on the OTC Markets. (Mercedes mine, Sonora).
  • Gold Resource Corporation declared its monthly dividend of one-third of a cent per common share for January 2021 payable on February 23, 2021 to shareholders (Oaxaca Mining Unit, Oaxaca).
  • Ridgestone Mining Inc., closed the last tranche of its previously announced non-broken private placement for gross proceeds of $695K (Rebeico project, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Fabled Silver Gold Corp., presented initial diamond drill results from the ongoing 8,000m drill program to be performed at its Santa Maria project in Chihuahua. The company has completed four holes for a total of 1,017m. Assays are still pending for holes SM 2020-02 to SM 2020-04 and the fifth holes is in progress.  The first hole (SM 2020-01) returned significant results with 0.18 g/t Au and 44 g/t Ag over 68.6m, including 0.35 g/t Au and 106 g/t Ag over 20m, including 0.27 g/t Au and 146 g/t Ag over 2m, including 1.09 g/t Au and 238 g/t Ag over 1.60m, and including 0.34 g/t Au and 151 g/t Ag over 1.90m.
  • Capstone Mining Corp., announced an updated technical report for its Cozamin mine in Zacatecas, and extends mine life to 2031. Proven + probable mineral reserves increased by 39% to 14.1M tonnes grading 1.77% Cu, 44 g/t Ag, 0.54% Zn, and 0.21% Pb for a total of 551.16M Lb Cu, 20.18M Oz Ag, 169.76M Lb Zn, and 63.9M Lb Pb contained, and measured and indicated mineral resources increased by 10% to 29.7M tonnes of grading 1.52% Cu, 44 g/t Ag, 1.1% Zn, and 0.32% Pb for a total of 994.28M Lb Cu, 41.5M Oz Ag, 720.9M Lb Zn, and 209.4M Lb Pb contained, and inferred resources of 13.87M tonnes grading 0.54% Cu, 39 g/t Ag, 2.23% Zn, and 0.74% Pb for a total of 165.34M Lb Cu, 17.4M Oz Ag, 681.2M Lb Zn, and 227.1M Lb Pb contained. The new reserve mine plan is projected to produce 512M Lb Cu and 16M Oz Ag over the next 10 years.
  • Comet Resources Limited, provided the Q4, 2020 activities report. The company was focused on setting up a field office as well as on the engagement of local geological consultants to move towards its initial drilling program in 2021. Comet completed a field mapping and sampling program in Q4, 2020, to support planning for and locations of initial drilling program. The plan is to get drill permits in Q1, 2021 and begins the initial drilling program by late in Q1, or early Q2, 2021. As announced on October 13, 2020, the JORC inferred mineral resource estimate for the Santa Teresa project was for 369K tonnes of 7.47 g/t Au for a total of 88.6K Oz Au contained.
  • Oroco Resource Corp.,  reported significant 3D IP survey results at its Santo Tomas project in Sinaloa. The survey is now approximately 80% complete, and Oroco has received preliminary inversion data for all stations surveyed to date.  The preliminary inversion model has successfully mapped the resistivity and chargeability characteristics along a swath 2.1km wide by 4.3 km along strike over the South Zone, North Zone and part of the Brasiles Zone.
  • VanGold Mining Corp., commenced a 12-14 drill holes program and will be conducted underground, within old workings at the historic El Pinguico mine in Guanajuato.
  • Minera Alamos Inc., provided a construction update at its Santana project in Sonora as it advances toward the commencement of mining. The company reported that the leach solution ponds are now fully lined and ready for operations, the plant foundations have been completed and all previously fabricated plant structures have been delivered to site in preparation for final installation that is now underway, The majority of the civil works for the heap leach pad area have been completed and the installation of the pad liner has commenced this week, and the crushing system previously acquired for potential future expansions at Santana is in transit from the U.S. to the Company’s staging facilities in Ciudad Obregón, Sonora.
  • Great Panther Mining Limited announced an update on exploration strategy and programs for 2021 (Topia mine, Durango).  At San Ignacio, Guanajuato, Great Panther plans to perform a 5,000m in-fill surface drilling program along the Purisima veins south of the development of the San Pedro ramp, deeper in the Purisima / Purisima alto vein system and continue testing for Au-Ag mineralization along 1.1km of Purisima vein north from the old San Ignacio shaft.  At Guanajuato mine, Guanajuato, the company will continue the geological mapping and sampling in accessible parts of the historical mining areas(now, near to be completed) and will be followed by a 10,000m of underground drilling along the north side of Valenciana, between Valenciana and Cata, and in the Pozos , Promontorio, and Guanajuatito areas. At Topia mine, Durango,  5,000m of surface drilling are planned focused on defining new mineral resources in six areas along the strike and down-dip extents of present mining efforts.

ON DEALS AND CORPORATE ISSUES

  • Mexican Gold Mining Cop., engaged JDS Energy & Mining Inc., for a PEA at its Las Minas project in Veracruz. The PEA is expected to be completed in Q2, 2021.
  • Canuc Resources Corporation, doubled its land position at San Javier project in Sonora by signing a purchase agreement for five claims comprising 416.9 hectares. To date, Canuc has accumulated a ground position 833.1 contiguous hectares.
  • Magna Gold Corp., appointed its new CFO (San Francisco mine, Sonora).
  • Defiance Silver Corp., entered into an option agreement to acquire 1,915 hectares surrounding its Tepal project in Michoacan. As a result, Defiance has doubled its land position at the project.  The company has agreed to pay the annual concession fees until a production decision has been made, upon which Defiance will pay the vendor USD $2 M for 100% ownership of the mining concessions.
  • Vizsla Resources Corp., announced strengthening of its senior management team and board with the promotions of its Technical Director and VP of Technical Services, and the appointment of its Country Manager (Panuco project, Sinaloa).
  • First Majestic Silver Corp., confirmed that it is not aware of any material, undisclosed information related to the Company that would account for the recent increase in the market price and level of trading volume of its ordinary shares (San Dimas property, Durango).
  • Mexican Gold Mining Corp., appointed two new members as technical advisors to assist the company as it moves Las Minas project, Veracruz towards a PEA.
  • Discovery Metals Corp., named to the 2021 OTCQX Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year.  (Cordero project, Chihuahua).
  • Gainey Capital Corp., provided an update on its Mexican projects and corporate activities. The company took the decision to not continue with the option on the Las Margaritas project in Durango. The El Colomo project, Nayarit will continue to be the flagship project of the company.
  • Orex Minerals Inc., announced the resignation of one member of the board and the appointment of its new Director. Orex also granted 3.55M incentive stock options to directors, officers, and consultants (Sandra project, Durango).
  • Magna Gold Corp., provided a letter to all of its shareholders in which it explained the strategy used to grow the company through strategic acquisitions and targeted exploration to evolve from a junior exploration company to an intermediate gold producer in Mexico. Since the Company’s inception in 2017, it has returned 10x to the Company’s shareholders (San Francisco mine, Sonora).

ON SOCIAL RESPONSIBILITY

  • Fresnillo plc strengthens education in times of pandemic. Fresnillo plc has joined efforts in favor of education, training and development for the lives of thousands of young people, to boost their professional, economic and social growth.
  • Peñoles reaffirms its commitment to promoting education through the implementation of academic programs that seek to develop skills and tools so that children and young people in Mexico aspire to a better future. Peñoles has academic initiatives with a focus on reading, science, technology, human development, sports and culture for different educational levels.
  • The companies Autlán, Grupo México, Industrias Peñoles, Newmont-Peñasquito, Fresnillo plc and Coeur Mining participate in water management projects that were highlighted by the Mexican Mining Chamber (CAMIMEX) in its 2020 sustainability report.

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, stibiconite in a low sulphidation epithermal system in a prospect in Durango, Mexico.  Photo by Miguel A Heredia., Mexico

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