VANCOUVER, BC / ACCESSWIRE / March 21, 2023 / Sierra Madre Gold and Silver Ltd. (TSXV:SM) (“Sierra Madre” or the “Company“) is pleased to announce that it has received approval for the acquisition (“Acquisition´´) of the La Guitarra Silver-Gold Mine (“La Guitarra“) from Mexico´s antitrust agency, the Comisión Federal de Competencia Económica(“COFECE”).
Month: March 2023
CAPITAN MINING INC. ANNOUNCES NAME CHANGE TO CAPITAN SILVER CORP.
Vancouver, British Columbia–(Newsfile Corp. – March 20, 2023) – CAPITAN MINING INC. (TSXV: CAPT) (“Capitan” or “the Company”) is pleased to announce that it will be changing its name to “Capitan Silver Corp to reflect its primary focus on the recently consolidated silver trend at the Cruz de Plata project in Durango, Mexico. The TSX Venture Exchange has approved the change of name and the Company will begin trading under its new name on March 23, 2023. Capitan Silver Corp. will continue to trade under the same symbol ‘CAPT’ on the TSX Venture Exchange and the number of shares outstanding will not change.
Fortuna reports updated Mineral Reserves and Mineral Resources
Vancouver, March 21, 2023 – Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) is pleased to report updated Mineral Reserve and Mineral Resource estimates as of December 31, 2022 for its four operating mines and its development Séguéla gold Project in the Americas and West Africa, as well as the maiden Inferred Resource for the Arizaro Project located at the Lindero Property in Salta, Argentina.
Radius Gold discovers gold mineralized “hotspring type” sinter and breccia pipe target in Fresnillo district, Zacatecas
Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to announce the discovery and acquisition of a new gold mineralized “hotspring type” sinter and breccia pipe target within the Fresnillo district, Zacatecas, Mexico. Radius has entered into an option agreement with local claim owners to acquire 100% of the new property named Tropico.
Golden Minerals Announces 570 g/t Ag Eq. Initial Mineral Resource Estimate for Yoquivo Silver-Gold Project
GOLDEN, CO – /BUSINESS WIRE/ – March 20, 2023 – Golden Minerals Company (“Golden Minerals”, “Golden”, the “Company”, “we” or “our”) (NYSE-A: AUMN and TSX: AUMN) is pleased to announce the results of an initial Mineral Resource estimate and Technical Report (the “Report”) prepared for its Yoquivo silver-gold project located in northwest Chihuahua state, Mexico.
VIZSLA SILVER EXTENDS HIGH-GRADE MINERALIZATION AT LA LUISA; INTERCEPTS 4,227 G/T AGEQ OVER 2.30 METRES
Vancouver, British Columbia (March 20, 2023) – Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) (“Vizsla” or the “Company”) is pleased to report results from seven drillholes targeting the recently discovered “La Luisa” Vein located ~700 metres west of the Napoleon Vein, at its 100%- owned flagship Panuco silver-gold project (“Panuco”) in Mexico. Today’s results expand the high-grade footprint at La Luisa by over ~150 metres down dip from previously reported hole NP-22-305 (see press release dated October 25, 2022).
GR Silver Announces Significant Updated Mineral Resource Estimate for the Plomosas Project. 97 Moz Indicated and 53 Moz Inferred – Silver Equivalent
Vancouver, BC – GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”) (TSXV|GRSL, OTCQB|GRSLF, FRANKFURT|GPE) – is pleased to announce an independent, updated Mineral Resource Estimate (the “Resource Estimate”) in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) for the Company’s wholly-owned Plomosas Project in Sinaloa, Mexico. The Resource Estimate was completed by ARSENEAU Consulting Services Inc, (“ACS”) of Vancouver, British Columbia, Canada, and integrates resources for the San Marcial, Plomosas Mine and San Juan-La Colorada Areas within the Plomosas Project.
The Mining and Exploration News in Mexico: Highlights on the Third Week of March 2023
By Jorge Cirett
During the 11th week of the year (March 13th to March 19th, 2023), 12 companies working in Mexico released news on their properties. Four companies informed on Q4 and year 2022 financial and operational results. One company opened a financing exercise and one more closed a previously announced private placement. Three companies released drilling results on their advanced properties. A company received a permanent injunction order against an act by SEMARNAT that would sharply reduce the term validity of a needed permit. One more company announced the acquisition of a large adjoining claim block to its flagship property. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, no relevant news. ON MINING, SilverCrest Metals, Americas Gold and Silver, Fortuna Silver and Orla Mining released Q4 2022 production or/and financial reports. ON FINANCING, Silver Viper is to undertake a non-brokered private placement for up to $3 M. Heliostar Metals closed its non-brokered private placement, raising C$20 M. ON RESOURCES AND DEVELOPMENT, Zacatecas Silver released plans on several exploration targets at its Esperanza project in Morelos. Vizsla Silver announced the filing of a technical report with updated mineral resources for its Panuco project in Sinaloa. Defiance Silver released drilling results from testing of the Veta Madre vein system at the San Acacio project in Zacatecas. ON DEALS AND CORPORATE ISSUES, Fortuna Silver received a court ruling that protects its operation while a definitive ruling is obtained regarding the term of a permit granted by SEMARNAT. Colibri Resource acquired the 4,260 ha “Plomo Gold” property adjacent to its flagship Evelyn project in Sonora. ON SOCIAL RESPONSIBILITY, no relevant news.
ON MEXICO ISSUES
- No Relevant News.
ON EXPLORATION
- No Relevant News.
ON MINING
- SilverCrest Metals Inc. reported financial results for year 2022. Las Chispas mine construction in Sonora was completed in May 2022 for US$133 M, with revenue from mining allowing for the payment of US$40 M of debt. Commercial production was declared on November 1, 2022. During Q4, 2.3 km of underground development were completed, 65 K tonnes were mined, and 104 K tonnes milled @ 3.67 gpt Au, 382 gpt Ag, recovering 96.9%Au, 93.3% Ag, to produce 11.9 K Oz Au, 1.2 M Oz Ag (2.2 M Oz AgEq). For the year, 201 K tonnes were mined, 188 K tonnes were milled @3.05 gpt Au, 312 gpt Ag, recovering 96.05% Au, 92.5% Ag to produce 17.8 K Oz Au, 1.7 M Oz Ag (3.3 M Oz AgEq). By the end of February 2023, the company’s cash balance was US$71.2 M, which permitted the prepayment of US$15 M and the reduction of the debt outstanding to US$35 M.
- Americas Gold and Silver Corp. reported financial and operational results from its activities in Mexico and USA. The company obtained revenue of $85.0 M on the production of 5.3 M Oz AgEq, with cash costs of $0.77 per Oz Ag and all-in sustaining costs of $9.64 per Oz Ag. At Cosalá, in Sinaloa, 636 K Oz Ag, 39.3 M Lb Zn, 15.3 M Lb Pb were produced. For 2023, production is projected to be between 1.2 – 1.4 M Oz Ag, 33 – 37 M Lb Zn, 11 – 13 M Lb Pb.
- Fortuna Silver Mines Inc. reported financial and operating results for Q4 and full year 2022. At San Jose, in Oaxaca, 259.5 K tonnes were milled at a rate of 2,883 tonnes per day, grading 194 gpt Ag, 1.13 gpt Au, recovering 91% Ag, 90% Au, to produce 1.47 M Oz Ag, 8,499 Oz Au, at cash cost $11.16 per Oz AgEq and All-in sustaining cost of $15.53 per Oz AgEq.
- Orla Mining Ltd. announced results for Q4 and full year 2022. During the year Orla commissioned the Camino rojo Oxide deposit in Zacatecas, producing 32,017 Oz Au in Q4 for a total of 109,596 Oz Au on the year, at an all-in sustaining cost of $634 per Oz Au on Q4 and $611 per Oz Au on the year. By the end of 2022 the company had a cash balance of $96.3 M and net debt of $49.5 M. “A 34,000-metre, 57-hole follow-up drill program will continue to infill the Camino Rojo Sulphides in 2023 (20% of the holes will extend to test the deep potential of the deposit). In addition, 6,500 metres will be drilled on the extensions of the Camino Rojo oxide deposit to update and expand resources and reserves”.
ON FINANCING
- Silver Viper Minerals Corp. is to undertake a non-brokered private placement financing to raise gross proceeds of up to US$3 M (La Virginia, Sonora).
- Heliostar Metals Ltd. closed its previously announced non-brokered private placement offering, for gross proceeds of C$20.4 M (Ana Paula, Guerrero).
ON RESOURCES AND DEVELOPMENT
- Zacatecas Silver Corp. announced exploration plans on several near surface targets and a key deep intrusion target near the Esperanza project in Morelos. The previous operators drilled several holes with high grade intercepts on the western edge beneath the planned open pit. Near surface targets include the Northern contact, Northeastern contact and Colotepec. Planned exploration includes soil geochemistry on a 50 by 100 m grid, land magnetics, and an induced polarization survey. Depending on results obtained, the use of deep-sensing audio-frequency magnetotellurics (AMD) or large-scale controlled audio magnotellurics (CSAMT) may be used.
- Vizsla Silver Corp. filed a NI-43-10 compliant technical report containing an updated mineral resource estimate on the Panuco project, in Sinaloa.
- Defiance Silver Corp. provided results for seven drill holes testing the Veta Grande vein system of the San Acacio project in Zacatecas. “These holes were designed to improve the main Veta Grande structural model and to test splays to the Veta Grande system, including the footwall San Herculano structure”. Highlighted core-length intervals comprise 9.57 m @ 157 gpt Ag, 0.12 gpt Au; 8.59 m @ 60 gpt Ag, 0.07 gpt Au, 6.98 m @ 81 gpt Ag, 0.17 gpt Au; 1.15 m @ 45 gpt Ag, 0.34 gpt Au, 1.3% Pb, 0.6% Zn; 2.73 m @ 237 gpt Ag, 0.04 gpt Au; 2.23 m @ 95 gpt Ag, 0.14 gpt Au; 11.22 m @ 24 gpt Ag, 0.34 gpt Au, 0.7% Pb, 1.7% Zn (including 3.40 m @ 50 gpt Ag, 0.71 gpt Au, 1.7% Pb, 3.85% Zn).
ON DEALS AND CORPORATE ISSUES
- Fortuna Silver Mines Inc. reported that the Mexican Federal Administrative Court has granted a permanent injunction to Fortuna Silver that allows the San Jose mine in Oaxaca to continue to operate under the terms of the 12-year environmental impact authorization (EIA). Fortuna had to initiate legal proceedings against SEMARNAT after it issued a re-assessment on the term of the EIA. “The grant of the permanent injunction in favor of Minera Cuzcatlan allows the San Jose Mine to continue to operate under the terms of the 12-year EIA until the Court has ruled on the revocation of the EIA”.
- Colibri Resource Corp. announced the acquisition of the “Plomo Gold” property in the Caborca belt in Sonora. The 4,260 ha property takes Colibri holdings in the area to 4,766 ha. The property has an historical database containing 1,853 rock samples, 1,570 m of drilling in 10 holes, geological mapping and 14.1 Km of induced polarization survey. High priority targets include Banco de Oro, San Perfecto (with an 11.65 m drill intercept averaging 0.66 gpt Au), Pavorreal and Bonancita. “The Plomo property is underlain by a variety of rock types that include Paleoproterozoic metamorphic rocks, a sequence of Jurassic volcanic rocks ranging in composition from andesite to rhyolite, and intrusive rocks that include diorite, granodiorite, and monzonite”.
ON SOCIAL RESPONSIBILITY
- No Relevant News.
On the image below: Blue sky and copper staining on a project in the Sonoran Desert. Picture by Jorge Cirett.
Mexico’s Best Drilling Intercepts, Third Week of March 2023
Only Defiance Silver reported drilling results this week related to properties in Mexico. The company has a large (4,300 ha) semicontinuos land position in the Zacatecas district, in Zacatecas. Within this land package Defiance has three project areas: San Acacio, focused on the Veta Grande vein system, with a 17 M Oz Ag inferred resource. Lucita, with the Palenque structure and Lagartos, within the Mala Noche belt. The holes in this release “were designed to improve the main Veta Grande structural model and test splays to the Veta Grande system, including the footwall San Herculano structure”.
Heliostar Announces Closing of C$20.4M (US$15.0M) Private Placement and Provides Ana Paula and San Antonio Transaction Updates
Vancouver, Canada, March 17, 2023 – Heliostar Metals Limited (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1) (“Heliostar” or the “Company”) is pleased to announce that further to its news releases dated December 6, 2022, January 17, 2023 and March 3, 2023, it has closed its previously announced non-brokered private placement offering (the “Offering”), of which the Company issued 92,727,272 units (each a “Unit”) at a price of C$0.22 per Unit for gross aggregate proceeds of approximately C$20,400,000 (US$15,000,0001). The Company is also pleased to provide an update on its proposed acquisition (the “Transaction”) of all of the issued and outstanding shares of Aurea Mining Inc. (“Aurea Mining”), a wholly owned subsidiary of Argonaut Gold Inc. (“Argonaut”), which through Aurea Mining’s wholly owned subsidiary Minera Aurea S.A. de C.V. (“Minera Aurea”), holds a 100% indirect interest in and to the Ana Paula Gold project (the “Ana Paula Gold Project”), as well as its option agreement (the “Option Agreement”) with Argonaut and its wholly owned subsidiary, Compañía Minera Pitalla S.A. de CV, pursuant to which the Company has been granted an option (the “Option”) to acquire a 100% interest in the San Antonio Gold project (the “San Antonio Gold Project”).