The Mining and Exploration News in Mexico: Highlights on the First Week of May, 2022. 

Phyllic alteration

By Miguel A Heredia

During the 18th week of the year (May 2nd to May 8th, 2022), at least 23 press releases were announced by companies working in Mexico, and 6 news published by the media, with ten reporting resources and developments of their properties, six commenting on Mexican issues, four disclosing deals and corporate issues, four informing on exploration results, three communicating production and financial results, and two discussing social issues. ON MEXICO ISSUES, Torex Gold announced the investment of USD $848M to develop its Media Luna project in Guerrero. Expo Minero Chihuahua 2022 closed its doors with the attendance of 15,610 people. Arcelor Mittal announced that it will invest USD $150M to boost the iron mining in Michoacán. According to Miner Deck, one company working in Mexico participated in the best eight gold intercepts of the week, and two in the best seven silver intercepts of the week. ON EXPLORATION, In Sonora, Aztec Minerals-Kootenay JV released results from California and Jasper targets within its Cervantes project, and Canuc provided an update on its exploration program at its San Javier project. In Chihuahua, Kootenay announced that it will commence a 15,000m drilling program at its Columba project. In Coahuila, Monumental announced the results of a geophysical survey recently completed at its Jemi Heavy Rare Earth Elements project. ON MINING, Altaley reported Q4, and full year 2021 production and financial results from its Campo Morado mine in Guerrero. Coeur Mining reported Q1, 2022 production and financial results from its Palmarejo mine in Chihuahua. Santacruz reported Q4 and full year 2021 consolidated production and financial results from their Mexican operation mines. ON FINANCING, no relevant news.  ON RESOURCES AND DEVELOPMENT, Capitan Mining released results from 5 RC holes collared at its Jesus Maria Silver Zone at the Cruz de Plata project (former Peñoles project) in Durango. Zacatecas Silver received permits for 30 drill pads at El Cristo Vein System within its Zacatecas property. Sonoro Gold filed an Environmental Impact Statement or Manifestación de Impacto Ambiental (MIA) for its Cerro Caliche property in Sonora.  Orex-Pan American Silver JV received a permit to drill 2,500-3,000m at its Sandra project in Durango. Southern Silver reported drilling results from its Cerro Las Minitas project in Durango. Silver Dollar released the remaining assay results from the phase 1 drilling program completed at its la Joya project in Durango. Sierra Madre reported results of the last four holes collared at its Tepic project in Nayarit. Golden Tag announced results from 2 holes drilled at its San Diego project in Durango. Guanajuato Silver reported drill results from its ongoing exploration programs at its El Cubo mine and El Pinguico projects in Guanajuato. Prime Mining announced new results from 17 holes drilled at Zapote North and Mariposa areas within its Los Reyes project in Sinaloa. ON DEALS AND CORPORATE ISSUES, Golden Minerals announced the appointment of its COO (Rodeo project, Durango). Vizsla announced the appointments of its COO and VP of Exploration (Panuco project, Sinaloa). Orogen and the Riverside-BHP JV signed an option agreement for the Llano de Nogal project in Sonora. ON SOCIAL RESPONSIBILITY, Esperanza Silver de México obtained the support of the Tetlama community in Morelos for the Esperanza project. Alamos Gold has generated 2,200 new jobs in the last two years for the construction of its La Yaqui Grande mine in Sonora.

ON MEXICO ISSUE

  • Torex Gold Resources Inc., announced the investment of USD $848M to develop its Media Luna project in Guerrero to bring it into commercial production by the end of 2024. The initial capital investment in the Media Luna Project includes USD $85M of underground mine development during the pre-commercial mining period, between Q4, 2023 and Q4, 2024. The initial capital required to develop the Media Luna Project excludes USD $124M of direct project expenses incurred before April 1, 2022, of which USD $37M are related to the Guajes Tunnel and USD $28M to the development of the Upper and Lower South Portal. Of the direct expenses of the project, the largest capital expenditures are related to the development of the underground mine (USD $173M), access to the deposit through the Guajes Tunnel (USD $76M), as well as the Upper and Lower South Portal (USD $40M), improvements to the process plant (USD $98M) and tailings/paste plant (USD $78M). Of indirect expenses, the largest components are contingency costs (USD $100M).
  • Expo Minero Chihuahua 2022 closed its doors with the attendance of 15,610 people. For four days, from April 28 to May 1, the attendees learned about the importance of the mining industry in the development of Mexico and its usefulness in everyday life.
  • Arcelor Mittal Mexico announced that it will invest USD $150M to boost the iron mining in Michoacán. The company also stated that it will increase the domestic rolled steel production from 2.5M to 5.3M tonnes.
  • According to Miner Deck, one company working in Mexico was in the best eight drill intercepts of the week.  Aztec Minerals-Kootenay JV was eight with 136.8m @ 1.486 g/t Au at Cervantes project in Sonora.
  • According to Miner Deck, two of the best silver drill intercepts of the week were drilled by companies working in Mexico. Golden Tag was first with 395m @ 35 g/t Ag at San Diego project in Durango, and Capitan Mining was seventh with 16.8m @ 291 g/t Ag at Cruz de Plata project in Durango.

ON EXPLORATION

  • Aztec Minerals Corp – Kootenay Silver Inc. JV released results from the California and Jasper targets within its Cervantes project in Sonora. Drilling highlights include hole JAS22-001 with 0.33 g/t Au over 9.1m, with 150m visible Cu oxides and secondary sulphides in mineralized quartz feldspar porphyry intrusive, sediments and hydrothermal breccia; hole CAL22-017 with 0.31 g/t Au over 24.3m, and 1.65 g/t Au over 6.1m in mineralized quartz feldspar porphyry intrusive, sediments and hydrothermal breccia; hole CAL22-016 with 0.47 g/t Au over 56.2m, and 0.35 g/t Au over 13.7m in mineralized porphyries and hydrothermal breccia; and hole CAL22-015 with 0.42 g/t Au over 68.4m, and 2.25 g/t Au over 10.6m in mineralized porphyries and hydrothermal breccia. These drill results extended the known mineralized zone at depth and over 350m to the north onto the California North target and also to the south on the eastern end of the California zone. The company reported that the phase 2 RC drilling program at the Cervantes property is completed and consisted of 26 holes totalling 4,649m.
  • Canuc Resources Corporation provided an update on its exploration program at its San Javier project in Sonora. On the Silver Mountain Zone, the 63-sample grid covered the central part of a NE-SW trending magnetic high in the north part of the San Javier project area. Within the soil grid, samples ranging from 5,123 to 36,671 ppb Ag (5 to 36 g/t) define a 50 to 100 m wide trend that extends for approximately 300 m across the grid. Only 7 of the 63 samples collected contained less that 1 g/t Ag and. The Ag anomaly is accompanied by a modest Au anomaly having values ranging from 38.6 to 87.5 ppb within a relatively high 2.0 to 32.5 background. Only 9 samples contained less than 5.0 ppb Au. On the Gold Zone, the company excavated 3,295m of trenches ranging from 65m to 638m in width. From these trenches, 1,829 channel samples have been collected and additional 46 samples have been collected from various locations within the trend. Results have been reported only on the first 3 trenches which returned elevated gold and copper values. Sampling results are still pending for the rest of the trenches. On the Copper-Gold Stockwork Zone, a total of 22 samples were collected from 3 locations on the north flank of a donut shaped magnetic high in the north–central part of the property. Average grade of the sampling is 0.38% Cu, 0.29 g/t Au, and 3.9 g/t Ag. Canuc plans to cover with soil samples the southwest extension of the strong Ag anomaly referred as Silver Anomaly target; to carry out a detailed mapping on at least 40 know mineralized zones within the property, as well as along the 11 trenches excavated across the Gold Zone, and in the area of the Stockwork Copper-Gold Zone, to provide necessary information in advance of drilling.
  • Kootenay Silver Inc., announced that it will commence a 15,000m drilling program at its Columba project in Chihuahua. Initial focus of this program will be on deeper drill testing on the F Vein and expanding on the D and B Vein intercepts, as well as explore the JZ Zone located 700 meters east of the F Vein; and the East Block located 200 meters east form the JZ Zone.
  • Monumental Minerals Corp., announced the results of a heli-borne magnetic, radiometric, and very-low frequency electromagnetic (VLF-EM) geophysical survey recently completed at its Jemi Heavy Rare Earth Elements (HREE) project in Coahuila. The geophysical survey confirmed that a significantly larger area of the property is prospective for HREE (from approximately 1 km to 10 km of prospective strike length), and defined two parallel 8 km arcuate anomalies that occur along the south and west margin of the Sierra La Vasca intrusion complex. The company announced that the next step is to carry out a rapid evaluation and prioritization of targets for diamond drill testing.

ON MINING

  • Altaley Mining Corporation reported Q4, and full year 2021 production and financial results from its Campo Morado mine in Guerrero. In Q4, 2021 the company processed 183,091 tonnes to produce 12,209 tonnes of Zn concentrate grading 46% Zn with metallurgical recovery of 71%, and 2,691 tonnes of Pb concentrate grading 22% Pb with metallurgical recovery of 30% respectively, at cash and all in sustaining cost (AISC) of USD $0.74 and USD $0.95 per Lb Zn respectively. Altaley reported gross revenues of CAD $29.7M, mine operating profit of CAD $10.1M, income for the period of CAD $20.6M, and cash of CAD $3.04M. In the full year 2021, the company processed 689,963 tonnes to produce 45,778 tonnes of Zn concentrate grading 46% Zn, 2.12 g/t Au, and 658 g/t Ag, with metallurgical recovery of 71% for Zn, and 9,936 tonnes of Pb concentrate grading 22%, 1.65% Cu, 6.08 g/t Au, and 776 g/t Ag, with metallurgical recovery of 29% for Pb, at cash and AISC of USD $0.60 and USD $0.83 per Lb Pb respectively. Altaley reported gross revenues of CAD $98.4M, mine operating profit of CAD $34.25M, income for the period of CAD $36.26M, and cash of CAD $3.04M.
  • Coeur Mining Inc., reported Q1, 2022 production and financial results from its Palmarejo mine in Chihuahua. The company milled 565,211 tonnes of 1.74 g/t Au and 120 g/t Ag with metallurgical recoveries of 90.6% and 83% respectively to produce 28.9K Oz Au and 1.8M Oz Ag. It sold 28.2K Oz Au and 1.79M Oz Ag during the Q1, 2022 period. Coeur reported metal sales of USD $83.1M; cost applicable to sales of USD $730 and USD $12.43 per Oz Au and Oz Ag respectively; cash flow from operating activities of USD $34.3M; sustaining capital expenditures of USD $13.6M; and free cash flow of USD $20.7M. The company announced that the full year 2022 production is expected to be 100K-110K Oz Au and 6M-7M Oz Ag, and the cost applicable to sales is expected to be USD $750-850 per Oz Au and USD $13.50-14.50 per Oz Ag.
  • Santacruz Silver Mining Ltd., reported Q4 and full year 2021 consolidated production and financial results from their Mexican operation mines (Zimapan, Hidalgo and Rosario San Luis Potosi). In Q4,2021, the company milled 192,901 tonnes to produce 318.4K Oz Ag, 2.27M Lb Pb, 7.7M Lb Zn, and 1.1M Lb Cu (or 842K Oz AgEq with an average grade of 184 g/t AgEq). Santacruz reported for this period revenues of USD $13.8M, gross profit of USD $621K, a net loss of USD $10.45M and an adjusted EBIDTA loss of USD $4,47M. In the full year 2021, it milled 730,412 tonnes to produce 1.29M Oz Ag, 132Oz Au, 8.4M Lb Pb, 28M Lb Zn, and 4.07M Lb Cu (or 3.2M Oz Ag with an average grade of 185 g/t AgEq). The company reported for the full year 2021 revenues of USD $53.3M, gross profit of USD $10.3M, a net loss of USD $11.56M, and an adjusted EBIDTA loss of USD $713K.

ON FINANCING

  • No relevant news.

ON RESOURCES AND DEVELOPMENT

  • Capitan Mining Inc., released results from 5 RC holes collared at its Jesus Maria Silver Zone at the Cruz de Plata project (former Peñoles project) in Durango. Drilling highlights include hole 21-JMRC-10 (at the Upper Zone) with 291 g/t Ag, 0.15 g/t Au, 0.08% Pb, and 0.08% Zn (332 g/t AgEq) over 16.8m, including 478 g/t Ag, 0.56 g/t Au, 0.3% Pb, and 0.2% Zn (539 g/t AgEq) over 9.1m, including 2,217 g/t Ag, 1.77 g/t Au, 1.1% Pb, and 0.4% Zn (2,406 g/t AgEq) over 1.5m; plus (at the Lower Zone) 71 g/t Ag, 0.4 g/t Au, 0.8% Pb, and 1.6% Zn (186 g/t AgEq) over 13.7m, including 114 g/t Ag, 0.67 g/t Au, 1.3% Pb, and 2.7% Zn (309 g/t AgEq) over 7.6m; hole 21-JMRC-06 (at the Upper Zone) with 100 g/t Ag, 0.12 g/t Au, 0.2% Pb, and 0.8% Zn (146 g/t AgEq) over 13.7m, including 152 g/t Ag, 0.17 g/t Au, 0.5% Pb, and 2.4% Zn (271 g/t AgEq) over 3m, including 154 g/t Ag, 0.17 g/t Au, 0.6% Pb, and 3.6% Zn (319 g/t AgEq), plus (at the Lower Zone) with 145 g/t Ag, 0.14 g/t Au, 0.3% Pb, 0.6% Zn (189 g/t AgEq) over 4.6m, including 380 g/t Ag, 0.28 g/t Au, 0.5% Pb, and 0.8% Zn (448 g/t AgEq) over 1.5m; and hole 21-JMRC-08 with 44 g/t Ag, 0.36 g/t Au, 0.9% Pb, and 1.3% Zn (149 g/t AgEq) over 7.6m, including 62 g/t Ag, 0.48 g/t Au, 1.4% Pb, and 2.1% Zn (218 g/t AgEq) over 4.6m, and including 92 g/t Ag, 0.05 g/t Au, 2.9% Pb, and 4.5% Zn (350 g/t AgEq) over 1.5m.
  • Zacatecas Silver Corp., received permits for 30 drill pads at El Cristo Vein System within its Zacatecas property to drill test multiple veins within a zone of dilation that is almost 4 km long and up to 600m wide.  The cumulative strike length of all veins at El Cristo is at least 12km long. A total of 2,500m of diamond drilling has been designed in this initial phase of drilling at El Cristo Vein System.
  • Sonoro Gold Corp., filed an Environmental Impact Statement or Manifestación de Impacto Ambiental (MIA) for its Cerro Caliche property in Sonora. “Under Mexican law, mining construction and operation activities require an approved MIA, as well as a Change of Land Use permit, or Autorización en Cambio de Uso de Suelo (“ETJ”), from the Mexican federal permitting authority, Secretaría de Medio Ambiente y Recursos Naturales (“SEMARNAT”). The company is currently completing the required documentation for the Change of Land Use application and anticipates filing with SEMARNAT in the near future.
  • Orex Minerals Inc. – Pan American Silver Corp JV received a permit to drill its Sandra project in Durango. Phase-I of this new drilling program will consist of approximately 2,500 to 3,000m. Orex conducted a geological mapping and litho geochemical sampling program over the combined 6,970 hectares of the project, where multiple drill target areas have been identified.
  • Southern Silver Exploration Corp., reported drilling results from the North Felsite and El Sol targets on its Cerro Las Minitas project in Durango. Drilling highlights include hole 21CLM-185 with 185 g/t Ag, 0.6 g/t Au, 0.1% Cu, 3.1% Pb, and 0.6% Zn (358 g/t AgEq or 9.1% ZnEq) over a true width (TW) of 0.7m at the North Felsite HW zone, plus 101 g/t Ag, 0.3 g/t Au, 0.8% Cu, 2.4% Pb, and 3.3% Zn (1,321 g/t AgEq or 33.5% ZnEq) over a TW of 1.8m, including 1,785 g/t Ag, 0.5 g/t Au, 1.4% Cu, 3.1% Pb, and 5.9% Zn (2,309 g/t AgEq or 56.6% ZnEq) over a TW of 1m at the North Felsite skarn area; hole 22CLM-184 with 7 g/t Ag, 1.1 g/t Au, 0% Cu, 0.1% Pb, and 0.2% Zn (112 g/t AgEq or 2.8% ZnEq) over a TW of 11.7m at the North Felsite HW zone, including 19 g/t Ag, 5.6 g/t Au, 0% Cu, 0.3% Pb, and 0.1% Zn (495 g/t AgEq or 12.5% ZnEq) over a TW of 1m, plus 121 g/t Ag, 0.2 g/t Au, 0.1% Cu, 1.9% Pb, and 6.5% Zn (460 g/t AgEq or 11.7% ZnEq) over a TW of 0.3m at North Felsite Skarn, plus 117 g/t Ag, 0.1 g/t Au, 0.1% Cu, 1.1% Pb, and 1% Zn (213 g/t AgEq or 5.4% ZnEq) over a TW of 6m, including 301 g/t Ag, 0.2 g/t Au, 0.5% Cu, 1.1% Pb, and 10.7% Zn (830 g/t AgEq or 21% ZnEq) over a TW of 0.3m, plus 302 g/t Ag, 0.2 g/t Au, 0.4% Cu, 2.9% Pb, and 0.7% Zn (485 g/t AgEq or 12.3% ZnEq) over a TW of 0.8m. “The North Felsite target is located on the eastern side of the Cerro Las Minitas, approximately 400m to the northwest of the La Bocona and Mina Piña shafts, in an area that was not included in the most recent NI43-101 Mineral Resource update on the property. New drilling tested the continuity of mineralization in both the main Ag-Pb-Zn Skarn as well as strongly Au-enriched hanging wall zone.
  • Silver Dollar Resources Inc., released the remaining assay results from the phase 1 drilling program completed on the underexplored Noria portion at its la Joya project in Durango. This phase of drilling consisted of 11 core holes totaling 2,424m. Drilling highlights include hole NOR-22-008 with 41 g/t Ag, 0.11 g/t Au, 0.05% Cu, 0.2% Pb, and 0.6% Zn (90 g/t AgEq) over 125.3m, including 137 g/t Ag, 0.23 g/t Au, 0.14% Cu, 0.4% Pb, and 1.7% Zn (268 g/t AgEq) over 10.47m; and hole NOR-22-009 with 3 g/t Ag, 0.66 g/t Au, 0.03% Cu, 0% Pb, and 0.03% Zn (60 g/t AgEq) over 58.84m. “Phase II drilling is now in progress and targeting the wide intervals of mineralization intersected in the new Phase I discoveries”.
  • Sierra Madre Gold and Silver Ltd., reported results of the last four holes collared at its Tepic project in Nayarit. Drilling highlights include hole TDH014 with 322 g/t Ag and 0.96 g/t Au (424 g/t AgEq) over 6.35m, including 544 g/t Ag and 1.5 g/t Au (656 g/t AgEq) over 3.85m, plus 332 g/t Ag and 1.85 g/t Au (470 g/t AgEq) over 6.05m, including 786 g/t Ag and 3.78 g/t Au (1,070 g/t AgEq) over 2.3m. Holes were designed to test areas adjacent to and outside of the areas that were volumetrically included in historic resource estimations. “The Tepic drill holes are being incorporated into the project’s 3-D database and model to plan the continuation of the Phase 2 drilling at Tepic. Drill pads have already been constructed on the Taunas targets to drill the first test holes within the newly discovered area on the eastern portion of the project”.
  •  Golden Tag Resources Ltd., announced results from 2 holes drilled at its San Diego project in Durango. Key highlights include hole 22-65A (Rata Zone) with 0.02 g/t Au, 1,350 g/t Ag, 1.4% Pb, 3% Zn, and 0.35% Cu (1,556 g/t AgEq) over 0.6m, plus 0.03 g/t Au, 981 g/t Ag, 2.4% Pb, 2.5% Zn, and 0.35% Cu (1,194 g/t AgEq) over 0.65m, plus 0.11 g/t Au, 210 g/t Ag, 0.6% Pb, 1.1% Zn, and 0.05% Cu (288 g/t AgEq) over 1.67m, and plus (at Cata Zone) with 0.12 g/t Au, 197 g/t Ag, 1.2% Pb, 0.7% Zn, and 0.06% Cu (280 g/t AgEq) over 0.85m; and hole 22-65B (Rata Zone) with 0.08 g/t Au, 286 g/t Ag, 0.2% Pb, 0.3% Zn, and 0.04% Cu (312 g/t AgEq) over 1.20m, plus (at Cata Zone) with 0.27 g/t Au, 103 g/t Ag, 0.6% Pb, 0.6% Zn, and 0.05% Cu (174 g/t AgEq) over 16.48m, including 0.09 g/t Au, 108 g/t Ag, 0.4% Pb, 0.7% Zn, and 0.05% Cu (163 g/t AgEq) over 2.20m, plus 0.12 g/t Au, 460 g/t Ag, 3% Pb, 2.7% Zn, and 0.19% Cu (690 g/t AgEq) over 2.50m, plus (at CS Play Zone) with 0.11 g/t Au, 135 g/t Ag, 2.9% Pb, 3% Zn, and 0.09% Cu (363 g/t AgEq) over 4.27m, plus (at Fernandez Zone) with 0.05 g/t Au, 35 g/t Ag, 0.4% Pb, 0.8% Zn, and 0.11% Cu (93 g/t AgEq) over 395.1m, including 0.03 g/t Au, 37 g/t Ag, 0.3% Pb, 1.1% Zn, and 0.14% Cu (109 g/t AgEq) over 185.90m. “Combining the results from hole 65B with the results from the previously reported hole 21-58, we can now anticipate that the potential extension of the Fernandez Zone could measure approximately 140 m x 70 m in the horizontal plane and 530 m in the vertical plane.  There are no drill holes to the west of hole 22-65B and thus the Fernandez Zone remains open to the west.” 
  • Guanajuato Silver Company Ltd., reported drill results from its ongoing exploration programs at its El Cubo mine and El Pinguico projects in Guanajuato. Key highlights include hole VP022-002 with 12.90 g/t Au and 1,956 g/t Ag (2,988 g/t AgEq) over a true width (TW) of 0.35m (Arroyo structure), plus 0.21 g/t Au and 31 g/t Ag (47 g/t AgEq) over a TW of 13.55m (Villalpando structure), including 0.76 g/t Au and 115 g/t Ag (176 g/t AgEq) over a TW of 1.15m, plus 0.44 g/t Au and 92 g/t Ag (127 g/t AgEq) over a TW of 0.39m (Villalpando FW structure); hole SC22-001 with 7.56 g/t Au and 42 g/t Ag (647 g/t AgEq) over a TW of 0.30m (680 Vein); hole SC22-002 with 4.49 g/t Au and 276 g/t Ag (636 g/t AgEq) over a TW of 0.13m (Tuberos Vein), plus 2.60 g/t Au and 194 g/t Ag (402 g/t AgEq) over a TW of 0.30m (Poniente Vein); and hole P21-22 with 1.04 g/t Au and 130 g/t Ag (203 g/t AgEq) over a TW of 1.56m (Arroyo structure), including 2.11 g/t Au and 227 g/t Ag (396 g/t AgEq) over a TW of 0.60m, plus 1.15 g/t Au and 193 g/t Ag (285 g/t AgEq) over a TW of 0.24m (Pinguico Vein). “These results serve to build confidence in our understanding of geological controls of high-grade mineralization within the various veins and different zones of our Guanajuato mine holdings. Further, drilling at the El Cubo mine continues to identify mineralization that the Company can quickly build into its near-term mining plans”.
  • Prime Mining Corp., announced new results from 17 holes drilled at Zapote North and Mariposa areas within its Los Reyes project in Sinaloa. “This drilling is targeting the expansion of the Zapote North deposit northwards along the structure and confirming the continuity of mineralization of Mariposa to the south. These holes confirm that gold-silver mineralization extends from Zapote North to Mariposa”. Drilling highlights at Zapote North  include hole 22ZAP-56 with 4.81 g/t Au and 17 g/t Ag over a true width (TW) of 1.7m; hole 22ZAP-66R with 2.42 g/t Au and 24 g/t Ag over a TW of 9.70m, including 4.72 g/t Au and 36 g/t Ag over a TW of 4.2m; hole 22ZAP-67R with 3.83 g/t Au and 14 g/t Ag over a TW of 1.4m; hole 22ZAP-59 with 1.4 g/t Au and 14 g/t Ag over a TW of 8.2m, including 5.55 g/t Au and 22 g/t Ag over a TW of 1.4m; hole 22ZAP-52R with 1.07 g/t Au and 20 g/t Ag over a TW of 19.9m, including  2.62 g/t Au and 28 g/t Ag over a TW of 2.3m, including 3.32 g/t Au and 31 g/t Ag over a TW of 2.3m, plus 0.77 g/t Au and 27 g/t Ag over a TW of 8.2m; hole 22ZAP-68R with 0.68 g/t Au and 13 g/t Ag over a TW of 8.2m, including 2.19 g/t Au and 11 g/t Ag over a TW of 1.2m, plus 0.39 g/t Au and 11 g/t Ag over a TW of 8.2m; and hole 22ZAP-69R with 0.47 g/t Au and 10 g/t Ag over a TW of 6.6m, plus 1.42 g/t Au and 28 g/t Ag over a TW of 5m, including 2.42 g/t Au and 44  g/t Ag over a TW of 2.5m. Drilling highlights at Mariposa include hole 22MA-08 with 1.1 g/t Au and 11 g/t Ag over a TW of 8.3m, including 3.38 g/t Au and 23 g/t Ag over a TW of 0.9m, plus 0.99 g/t Au and 9 g/t Ag over a TW of 5.4m, including 2.05 g/t Au and 11 g/t Ag over a TW of 1.1m, plus 0.69 g/t Au and 9 g/t Ag over a TW of 4.90m; and hole 22MA-09 with 1.55 g/t Au and 15 g/t Ag over a TW of 2.9m, including 5.35 g/t Au and 29 g/t Ag over a TW of 0.60m. “To date for Phase 1 and 2 combined, Prime has drilled 255 holes totalling 64,070 metres (122 in Phase 1 for 25,650 m and 133 holes so far in Phase 2 for 38,420 m)”.

ON DEALS AND CORPORATE ISSUES

  • Golden Minerals Company announced the appointment of its COO, effective May 9, 2022 (Rodeo project, Durango).
  • Vizsla Silver Corp., announced the appointments of its COO and VP of Exploration (Panuco project, Sinaloa).
  • Orogen Royalties Inc. and the Riverside Resources Inc-BHP Group JV signed an option agreement for the Llano de Nogal Copper-Gold porphyry project in Sonora. Riverside can earn a 100% interest by making cash payments of USD $2.48M and USD $5M in cumulative exploration expenditures (CEE) subject to the following schedule: USD $30K (closing of transaction); USD $50K (1st anniversary) and  USD $500K in CEE; USD $50K (2nd anniversary) and USD $1.3M in CEE; USD $100K (3rd anniversary) and $USD $2M (CEE); USD $200K (4th anniversary) and USD $3M (CEE); USD $300K (5th anniversary) and USD $4M (CEE); and USD $1.75M (6th anniversary) and USD $5M (CEE). “During the option period, Orogen and Riverside will jointly retain the right to exercise and retain any Net Smelter Return (NSR) royalty buydown rights with respect to the Suanse claims (0.5% NSR royalty for CAD $1M) and the Coyotes claims (1.5% NSR royalty for USD $1.5M). Once Riverside has exercised its option on Llano de Nogal, Riverside will grant to Orogen a 1% Production Royalty, of which 0.5% can be purchased for USD $10M within 10 years of the exercise date”.

ON SOCIAL RESPONSIBILITY

  • Esperanza Silver de México obtained the support of the Tetlama community to the extent of accompanying the request for federal environmental permits for its operation for the Esperanza project in Morelos. The company determined to promote the project from the beginning hand in hand with the inhabitants since it is based on lands that belong to the community, and showing full respect for their human rights. Esperanza Silver will be delivering the Environmental Impact Statement (MIA) report and the study to propose the change of land use in forest land to the Secretary of the Environment and Natural Resources of the federal government (SEMARNAT) by the end of this year. Currently, the Esperanza Project is in the evaluation stage of the technical studies carried out during 2021 in terms of water and geotechnics. This year will be dedicated to the design of the technical project that will allow establishing the model of the mine’s industrial plant. At this point, both the company and the community will submit the request for an Environmental Manifesto to SEMARNAT, which could occur in mid-2023.
  • Alamos Gold Inc., has generated 2,200 new jobs in the last two years, 700 of them for people hired directly and 1,500 more indirectly for the construction of its La Yaqui Grande mine in Sonora. La Yaqui Grande mine, is in its final stage of construction and will start commercial production during Q3, 2022. The Yaqui Grande mine is already being a development opportunity for communities in the Sierra de Sonora in the municipalities of Sahuaripa, Yécora and Arivechi, among others.

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, phyllic alteration in a porphyry copper prospect in Michoacán Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of April, 2022

By Jorge Cirett

During the 17th week of the year (April 25th to May 1st, 2022), at least 24 press releases were announced by companies working in Mexico. To note, five companies posted exploration advances on their properties, four released first quarter 2022 reports, one reported a temporary suspension of mining, one on a financing round, another one on an updated credit facility, eight reported either drill results or updated on work in their advanced properties. ON MEXICO ISSUES, according to Miner Deck, one company working in Mexico had the best gold intercept of the week, and five companies in Mexico participated in the best eight silver intercepts. The SGM stated that Ixtlilco el Grande in Tepalcingo, Morelos, is one of several sites favorable for lithium mineralization. Several institutions pointed out that Mexico can be involved in international litigations if proceeds to nullify mining concessions under the reform to the mining law recently approved. ON EXPLORATION, in Sonora, Tocvan Ventures provided drill results on the Pilar project; Silver Spruce received results from Diamante. In Durango, Commander Resources informed on drilling by Southern Empire Resources at Pedro. In Chihuahua, Mammoth Resources provide drilling results from Tenoriba. ON MINING, Guanajuato Silver reported 2021 production, Mag Silver, Alamos Gold and Agnico Eagle reported Q1 2022 production results. Gatos Silver temporarily suspended mining operations at Cerro Los Gatos in Chihuahua. ON FINANCING, Sonoro Gold is to raise up to C$3 M. Orla Mining informed on a project finance facility for US$150 M.  ON RESOURCES AND DEVELOPMENT, Barksdale Resources released the last results from its drilling campaign at San Javier, in Sonora. Endeavour Silver reported drilling results from its Parral project in Chihuahua. Altaley Mining filed an updated technical report on Tahuehueto, Durango. Sierra Madre Gold and Silver announced results from drilling at the Tepic project, in Nayarit. Chesapeake Gold released results from metallurgical infill holes at Metates, in Durango. SilverCrest Metals updated on construction work at Las Chispas, in Sonora. Discovery Silver updated on work at Cordero, in Chihuahua, GR Silver Mining released high-grade results from drilling at Plomosas, in Sinaloa. ON DEALS AND CORPORATE ISSUES, no relevant news.  ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • According to Miner Deck, one company working in Mexico, Chesapeake Gold, drilled the best gold drilling intercept of the week, with 405 m @ 0.90 gpt Au at Metates, in Durango.
  • According to Miner Deck, five of the top eight silver intervals were drilled by companies working in Mexico. Gr Silver Mining was first with 24.2 m @ 1,094 gpt Ag at Plomosas, in Sinaloa. Chesapeake Gold was third with 357 m @ 31.6 gpt Ag, at Metates, in Durango. Radius Gold was fifth, with 11.8 m @ 450 gpt Ag at Amalia, in Chihuahua. Endeavour Silver was sixth, with 5.7 m @ 392 gpt Ag at Guanaceví, in Durango. Sierra Madre was eighth, with 3.05 m 625 gpt Ag at Tepic, in Nayarit.
  • The Servicio Geológico Mexicano (SGM), stated that Ixtlilco el Grande in Tepalcingo, Morelos, is one of several sites favorable for lithium mineralization.
  • The Cámara de Comercio Internacional argued that if the Mexican government nullifies mining concessions as results of the recently approved reform to the mining law, will be obligated to indemnify investors. This as a result of modifying the regulatory framework, as also pointed the Comisión de Comercio y Políticas de Inversión y el Comité de Arbitraje de Inversión de la International Chamber of Commerce.

ON EXPLORATION

  • Radius Gold Inc. reported drilling results from El Cuervo target at its Amalia project in Chihuahua. Highlighted core length intercepts comprise 14.60 m @ 117 gpt Ag, 0.92 gpt Au (including 0.9 m @ 1,185 gpt Ag, 6.93 gpt Au); 17.35 m @ 253 gpt Ag, 1.11 gpt Au (Including 7.60 m @ 414 gpt Ag, 2.10 gpt Au); 11.80 m @ 450 gpt Ag, 1.31 gpt Au (including 2.10 m @ 1,577 gpt Ag, 2.27 gpt Au). These holes were drilled from two platforms testing 350 m of strike and 300 m of depth.
  • Tocvan Ventures Corp. announced results from one more drill hole at its Pilar project in Sonora. Highlighted core length intervals comprise 108.6 m @ 0.8 gpt Au, 3 gpt Ag (including 31.9 m @ 2.4 gpt Au, 2 gpt Ag, which includes 9.4 m @ 7.6 gpt Au, 5 gpt Ag). The drill hole intersected a silicified andesite, including the 9.4 m high-grade breccia zone.
  • Silver Spruce Resources Inc. received high-grade surface sample results from its Diamante project in Sonora. The results are part of the phase 1 geological mapping program on the main drill target areas. Intense silica, sericite, clay and propylitic alteration was confirmed peripheral to veins and breccias in andesitic tuff, rhyolite and granodiorite. Highlighted surface sample results comprise 51.5 gpt Au, 11 gpt Ag; 7.57 gpt Au, 186 gpt Ag, 114 ppm Bi, 6.3% Pb; 3.31 gpt Au, 191 gpt Ag, 0.5% Pb; 2.99 gpt Au, 2,270 gpt Ag, 422 gpt Bi, 0.29% Cu, 4.4% Pb; 2.08 gpt Au, 533 gpt Ag, 0.19% Cu, 3.8% Pb, 7.5% Zn; 1.80 gpt Au, 199 gpt Ag, 2.8% Pb, 0.2% Zn; 1.141 gpt Au, 140 gpt Ag, 0.17% Cu, 2.6 % Pb, 3.6% Zn; 1.38 gpt Au, 1,980 gpt Ag, 3,290 ppm Bi, 11.1% Pb; 1.34 gpt Au, 100 gpt Ag, 100 ppm Bi, >1000 ppm Cd, 3.2% Cu, 5.7% Pb, 16.7% Zn; 0.94 gpt Au, 223 gpt Ag, 0.27% Cu, 4.0% Pb, 6.5% Zn; 0.72 gpt Au, 226 gpt Ag, 375 ppm Bi, 2.4% Pb; 0.27 gpt Au, 82 gpt Ag, 44 ppm Bi, >1,000 ppm Cd, 3.6% Pb, 22.9% Zn; 0.20 gpt Au, 1,310 gpt Ag, 0.37% Cu, 42.3% Pb, 8.2% Zn.
  • Commander Resources Ltd. informed on work by partner Southern Empire Resources at the Pedro project in Durango. Southern Empire completed six core holes for a total of 856 m. Highlighted core length results comprise 9.26 m @ 0.087 gpt Au; 5.28 m @ 0.151 gpt Au; 19.82 m @ 0.311 gpt Au; 5.26 m @ 0.115 gpt Au; 15.23 m @ 0.577 gpt Au; 5.88 m @ 0.098 gpt Au; 14.75 m @ 0.230 gpt Au. “The Au-As-Sb-Hg-Tl-Te geochemical suite associated with strong orpiment (As S ) and realgar (AsS) mineralization observed in the Pedro drill core is, in part, indicative of Carlin-style gold deposits”.
  • Mammoth Resources Corp. provided results from three additional diamond drill holes at Tenoriba, in Chihuahua. Highlighted core length intervals comprise 6.0 m @ 0.20 gpt Au, 3 gpt Ag; 15.0 m @ 0.34 gpt Au, 2 gpt Ag; 6.0 m @ 0.59 gpt Au, 3 gpt Ag in one hole on the Moreno zone; 46.5 m @ 0.45 gpt Au, 5 gpt Ag in another hole on the Carneritos zone and 37.5 m @ 0.98 gpt Au, 15 gpt Ag (including 18.0 m @ 1.13 gpt Au, 21 gpt Ag, 0.55% Cu) and 12.0 m @ 0.08 gpt Au, 0.45% Cu in one other hole on the Moreno zone. To date, results for 1,914 m have been released from 13 holes on the current drilling program of 27 holes with 3,240 m drilled. The program has been halted for lack of water for drilling.

ON MINING

  • Guanajuato Silver Company Ltd. reported selected financial and production results for 2021. Production at El Cubo mine in Guanajuato commenced in October 2021. A total of 89.1 K tonnes were mined from El Cubo and existing stockpiles from El Pinguico, with 77.5 K tonnes milled, recovering 82.6% Ag, 78.8% Au to produce 124,7 K Oz Ag, 1,440 Oz Au at cash cost $20.36 per Oz AgEq mined. By the end of the period the company had $8.23 M in cash and an additional $1.6 M in bullion.
  • MAG Silver Corp. reported first quarter 2022 production of underground development and stope material at Juanicipio (56% Fresnillo/44% Mag Silver), in Zacatecas. On a 100% basis, 145.5 K tonnes were processed @ 597 gpt Ag, producing 2.4 M Oz Ag, 5,837 Oz Au. MAG Silver attributable production is 1.06 M Oz Ag, 2,568 Oz Au; the associated Pb and Zn production is to be reported with MAG’s first quarter filings.
  • Gatos Silver Inc. suspended temporarily mine operations at Cerro Los Gatos in Chihuahua. “The Mexican Ministry of Defense (“SEDENA”), who regulates all explosives permits in Mexico, temporarily suspended CLG’s explosive and blasting permit on April 21, 2022, following a blasting incident during underground development activities where two blasts were detonated prematurely”. No personnel were injured and no significant damage to equipment occurred. The company expects the resumption of mining activities next week.  
  • Alamos Gold Inc. reported Q1 2022 financial results, including figures from its Mexican operations. At Mulatos in Sonora, 613.8 K tonnes of ore were mined, 1.97 M tonnes of waste moved, stacking 1.74 M tonnes @ 0.73 gpt Au, for 40,852 Oz Au stacked. During the period 22,500 Oz Au were produced at cash cost $1,570 per Oz Au, and an AISC of $1,782 per Oz Au. “Mulatos produced 22,500 ounces in the first quarter, lower than the prior year period though consistent with first half 2022 guidance of between 45,000 and 50,000 ounces. Initial production from La Yaqui Grande in the third quarter and higher grades from El Salto are expected drive production substantially higher in the second half of the year to between 85,000 and 95,000 ounces”.
  • Agnico Eagle Mines Ltd. released first quarter 2022 results, including figures from its Mexican operations. At Pinos Altos, in Chihuahua, 384 K tonnes were processed at a rate of 4,267 tonnes per day (tpd), averaging 2.14 gpt Au, to produce 25,170 Oz Au at cash cost $1,078 per Oz Au. At Creston Mascota, residual recovery from the heap leach pad continued, producing 1,006 Oz Au at cash cost $407 per Oz Au with residual leaching to continue throughout the second quarter of 2022. At La India, in Sonora, 1.56 M tonnes were processed at a rate of 17.4 K tpd, averaging 0.57 gpt Au, to produce 21,702 Oz Au at cash cost $820 per Oz Au.

ON FINANCING

  • Sonoro Gold Corp. is to undertake a non-brokered private placement offering to raise up to C$3 M (Cerro Caliche, Sonora).
  • Orla Mining Ltd. announced the refinancing of its US$125 M project finance facility with a new US$150 M secured credit facility which includes a US$100 M term facility and a US$50 M revolving facility through the Bank of Nova Scotia, Bank of Montreal, and Canadian Imperial Bank of Commerce (Camino Rojo, Zacatecas).

ON RESOURCES AND DEVELOPMENT

  • Barksdale Resources Corp. announced additional drill results from its 5,000 m phase I drilling program at the Cerro Verde zone of the San Javier project in Sonora. Highlighted core length intervals in three holes comprise 21 m @ 0.14% Cu, 0.47 gpt Au; 21 m @ 0.61% Cu, 0.28 gpt Au; 6 m @ 0.04% Cu, 1.90 gpt Au; 6 m @ 0.19% Cu, 0.49 gpt Au; 15 m @ 1.48% Cu (including 9 m @ 2.22% Cu); 6 m @ 0.10% Cu, 0.49 gpt Au in one hole; 27 m @ 0.31% Cu; 18 m @ 0.36% Cu; 6 m @ 0.25% Cu; 12 m @ 0.80% Cu; 6 m @ 1.19% Cu; 66 m @ 0.33% Cu in a second hole, 33 m @ 0.29% Cu; 6 m @ 0.25% Cu in the third hole and 15 m @ 0.23% Cu; 3 m @ 0.10% Cu, 0.45 gpt Au; 3 m @ 0.17% Cu, 0.37 gpt Au; 6 m @ 0.29% Cu. “Two additional holes on the western flank of Cerro Verde have intercepted broad zones of mineralization further to the west, while hole SJ21-32 has confirmed copper mineralization in addition to further extending oxide gold”. Next in line is the completion of an initial resource estimate at Cerro Verde and planning of the next exploration phase, which is likely to include targets at La Trinidad and Mesa Grande prospects.
  • Endeavour Silver Corp. reported results from drilling at its Parral project in Chihuahua. Highlighted true width intercepts comprise 0.98 m @ 169 gpt Ag, 3.9% Pb, 2.3% Zn; 3.24 m @ 194 gpt Ag, 0.1% Pb, 0.2% Zn; 5.91 m @ 218 gpt Ag, 0.6% Pb, 1.1% Zn; 2.31 m @ 314 gpt Ag, 0.7% Pb, 0.3% Zn; 1.92 m @ 203 gpt Ag, 0.2% Pb; 1.13 m @ 439 gpt Ag, 0.23% Cu, 0.6% Pb, 0.1% Zn; 3.27 m @ 392 gpt Ag, 0.6% Pb, 2.1% Zn at Veta Colorada Sierra Plata Deep vein; 1.96 m @ 513 gpt Ag, 0.11% Cu, 2.0% Pb, 1.7% Zn; 4.23 m @ 0.14 gpt Au, 331 gpt Ag, 2.8% Pb, 2.2% Zn; 1.84 m @ 178 gpt Ag, 0.9% Pb, 1.0% Zn; 1.25 m @ 0.14 gpt Au, 310 gpt Ag, 1.8% Pb, 2.0% Zn; 3.49 m @ 395 gpt Ag, 0.14% Cu, 2.8% Pb, 2.7% Zn; 1.17 m @ 289 gpt Ag, 0.12% Cu, 3.0% Pb, 2.6% Zn; 1.18 m @ 191 gpt Ag, 0.8% Pb, 1.6% Zn; 2.48 m @ 0.12 gpt Au, 532 gpt Ag, 0.28% Cu, 3.1% Pb, 3.1% Zn at the Veta Colorada El Verde vein zone, and 2.09 m @ 0.61 gpt Au, 55 gpt Ag, 0.13% Cu, 3.0% Pb, 3.5% Zn; 0.48 m @ 0.49 gpt Au, 75 gpt Ag, 5.8% Pb, 4.7% Zn, at the Veta Colorada-San Joaquín vein. “Veta Colorada (including the Sierra Plata and El Verde mines) was a past producing mining operation owned by Grupo Mexico that closed in 1991 due to low silver prices. Mineralization, which occurs in a major silver vein structure that ranges from 1 to 30 metres thick, was mined seven levels down to 300-metre depths below surface in places and was traced for seven kilometres”.
  • Altaley Mining Corp. filed an updated technical report, including a preliminary feasibility study (PFS) for its Tahuehueto project in Durango. The previous report released in March 2021 “contained errors related to net smelter return calculations that under-estimated the PFS economics”, the updated disclosure increases “approximately 30% to the overall economics of the project”. The project envisages 1 K tpd operation with a mine life (LOM) of 10.9 years, to process a total of 3.55 M tonnes of ore @ 2.58 gpt Au, 50.5 gpt Ag, 0.3% Cu, 1.1% Pb, 1.9% Zn, with planned recovery of 87% Au, 85% Ag, 85% Cu, 85% Pb, 68% Zn to have a total net smelter return (NSR) of $645.4 M, LOM total capital cost of $56.9 M, an AISC of $855 per Oz AuEq, an EBITDA LOM of 357.7 M and an IRR of 65.5 with a payback period of 2 years. The project estimate of resources stands at 6.26 M tonnes @ 47 gpt Ag, 2.11 gpt Au, 0.27% Cu, 0.9% Pb, 1.98% Zn containing 9.45 M Oz Ag, 425 K Oz Au, 36.6 M Lb Cu, 123.9 M Lb Pb, 273.3 M Lb Zn in measures and indicated resources and 0.92 M tonnes @ 28.5 gpt Ag, 1.02 gpt Au, 0.15% Cu, 1.16% Pb, 1.96% Zn, containing 0.84 M Oz Ag, 30 K Oz Au, 3.K M Lb Cu, 23.6 M Lb Pb, 39.7 M Lb Zn.
  • Sierra Madre Gold and Silver Ltd. announced results from additional drill holes from the phase 2 program at its Tepic project in Nayarit. Highlighted core length intervals comprise 6.65 m @ 210 gpt Ag, 1.06 gpt Au (including 1.5 m @ 524 gpt Ag, 2.47 gpt Au); 4.5 m @ 264 gpt Ag, 1.85 gpt Au (including 1.5 m @ 740 gpt Ag, 2.37 gpt Au); 3.05 m @ 625 gpt Ag, 1.60 gpt Au; 1.5 m @ 185 gpt Ag, 0.26 gpt Au; 1.5 m @ 110 gpt Ag, 0.23 gpt Au. “Ten of the twelve holes were designed to test up dip or strike extensions of known structures outside of the volumes used in the historical resource estimations”.
  • Chesapeake Gold Corp. released results for the last 13 PQ size infill core drill holes at its Metates project in Durango. The 2021-2022 infill drill campaign totaled 7,485 m, returning 22% higher grades within intrusive hosted mineralization. Highlighted core-length intervals comprise 357 m @ 0.63 gpt Au, 20.5 gpt Ag; 357 m @ 1.00 gpt Au, 31.6 gpt Ag; 39 m @ 0.28 gpt Au, 30.9 gpt Ag; 118 m @ 1.24 gpt Au, 14.4 gpt Ag; 350 m @ 0.74 gpt Au, 23.2 gpt Ag (including 43 m @ 1.17 gpt Au, 8.6 gpt Ag); 69 m @ 0.50 gpt Au, 16.3 gpt Ag; 45 m @ 1.01 gpt Au, 11.5 gpt Ag; 226 m @ 0.95 gpt Au, 16.2 gpt Ag; 9 m @ 2.20 gpt Au, 6.8 gpt Ag; 405 m @ 0.90 gpt Au, 27.6 gpt Ag; 172 m @ 0.41 gpt Au, 25.4 gpt Ag; 45 m @ 0.82 gpt Au, 56.8 gpt Ag; 63 m @ 0.59 gpt Au, 10.6 gpt Ag; 138 m @ 1.38 gpt Au, 11.1 gpt Ag. “The infill drill holes targeted the intrusive-hosted mineralization and are spaced at approximately 50 metre intervals”.
  • SilverCrest Metals Inc. updated on construction at Las Chispas project in Sonora. At the end of Q1 construction at Las Chispas was 95.7%, with plant start-up on track for Q2 2022. Capital costs remain on budget, the power line is to be completed in Q2 and energized in Q3 while rental power generators were commissioned and are operational. A total of 19 .5 Km of underground development have been completed, 2.0 km in the last quarter. “The H1, 2022 exploration focus at Las Chispas is to map and sample unexplored areas and generate new drill targets”. At the end of Q1 2022 SilverCrest had cash and cash equivalents of $152 M, and $30 M available on a $120 M financing facility.
  • Discovery Silver Corp. updated on work at Cordero, in Chihuahua, to the Q4 2021. During the period a PEA on Cordero was completed, outlining a 16-year mine life producing 26 M Oz AgEq per year at an AISC of $12.35 per Oz AgEq. Work for this 2022 includes the pre-feasibility study (PFS), resource expansion and initial drill testing of five targets within the extensive land package owned by Discovery.
  • GR Silver Mining Ltd. announced results from its surface infill drill program at Plomosas, in Sinaloa. The results are part of the phase 1 program in the Plomosas mine area. Some of the highlighted true width results comprise 0.9 m @ 435 gpt Ag, 1.1% Pb, 5.1% Zn; 0.9 m @ 805 gpt Ag, 4.2% Pb, 5.6% Zn; 4.5 m @ 257 gpt Ag, 0.3% Pb, 0.4% Zn; 9.0 m @ 96 gpt Ag, 0.11 gpt Au, 0.2% Pb, 0.4% Zn; 2.8 m @ 176 gpt Ag, 0.3% Pb, 0.4% Zn; 8.5 m @ 410 gpt Ag, 0.30 gpt Au, 1.0% Pb, 1.0% Zn; 6.9 m @ 1,521 gpt Ag, 1.2% Pb, 1.6% Zn; 30.5 m @ 12 gpt Ag, 0.28 gpt Au, 1.0% Pb, 0.8% Zn; 16.0 m @ 289 gpt Ag, 0.1% Pb, 0.1% Zn; 15.7 m @ 238 gpt Ag, 0.1% Pb, 0.1% Zn; 9.5 m @ 372 gpt Ag, 0.1% Pb, 0.1% Zn.  

ON DEALS AND CORPORATE ISSUES

  • No Relevant News.

ON SOCIAL RESPONSIBILITY

  • No Relevant News.

On the image below: Quartz-barite-FeOx vein in the Sonoran Desert. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the First Week of April, 2022. 

Flow banded rhyolite

By Miguel A Heredia

During the 14th week of the year (April 04th to April 10th, 2022), at least 22 press releases were announced by companies working in Mexico, and one news published by the media, with nine reporting resources and developments of their properties, seven informing on exploration results, five communicating production and financial results, one disclosing deals and corporate issues, and one discussing social issues. ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Silver Spruce reported the approval of an Informe Preventivo for its second drilling permit at its Mezquite project, Ranchero Gold released results from its inaugural drilling program at its Santa Daniela project, and Starcore presented results from its drilling program conducted at its Opodepe project. In Chihuahua, Mammoth presented results from three holes drilled at its Tenoriba project, and Reyna Silver announced results from its 8,000m phase 2 drilling program conducted at its Guigui project. In Durango, Silver Wolf released results from 88 samples collected at its Ana Maria project. In Nayarit, Sierra Madre commenced a maiden drilling program at its La Tigra project. ON MINING, Gatos Silver reported Q1, 2022 production results from its 70%-owned Cerro Los Gatos mine, Chihuahua. GoGold announced Q1, 2022 production results from its Parral Tailings mine in Chihuahua. Mexus completed an open pit test heap leach Au recovery process that produced 278 Oz Au from 6 test pits at its Santa Elena mine in Sonora.  Minera Alamos announced Q1, 2022 production results from its Santana mine in Sonora. Orla presented Q1, 2022 production results from its Camino Rojo project in Zacatecas. ON FINANCING, no relevant news. ON RESOURCES AND DEVELOPMENT, Vizsla reported that it filed on the System for Electronic Document Analysis and Retrieval (SEDAR) an independent technical report on its Panuco project in Sinaloa. Azucar Minerals commenced to drill test a large lithocap target discussed previously at its El Cobre project, Veracruz. GR Silver reported results from three underground drill holes collared at its San Marcial project, Sinaloa. Avino published results from 110 holes drilled on the oxide tailings project at its Avino property in Durango. Golden Tag released results from hole 22-64 drilled at its San Diego mine, Durango. Silver Dollar announced that phase 2 exploration drilling program is underway at its la Joya project in Durango. Silver Viper conducted a TITAN-MT deep-penetrating geophysical survey centered on the El Rubi deposit, Paredones, and El Molino target areas at its La Virginia project in Chihuahua. Starcore provided an update on the diamond drilling program conducted at its San Martin mine in Querétaro. Zacatecas Silver announced results from its ongoing diamond drilling program on the Panuco North and Panuco Central Veins at its Zacatecas project in Zacatecas state.   ON DEALS AND CORPORATE ISSUES, Sailfish provided an update on its previously announced Swordfish silver transaction (Gavilanes project, Durango).  ON SOCIAL RESPONSIBILITY, Esperanza Silver has a Community Engagement Plan to meet the objectives proposed by the New Socially and Environmentally Responsible Mining Model.

ON MEXICO ISSUE

  • No relevant news.

ON EXPLORATION

  • Silver Spruce Resources Inc., reported the approval of an Informe Preventivo by the Mexican government Environmental Authority (SEMARNAT) for its second drilling permit at its Mezquite project in Sonora. The second drilling program will consists of 1,500-2,500m of Reverse Circulation (RC), which include twenty-four new pads on the northern, northwestern and southeastern sections of the property.
  • Ranchero Gold Corp., released results from its 16 holes, Phase 1 inaugural drilling program at the Maíz Azul prospect within its Santa Daniela project in Sonora. All of the 16 holes intersected Au mineralization and were planned to drill test shallow-near surface mineralization. Highlights include hole MA22-10 with 4 g/t Au over 31.5m; hole MA21-14 with 1.2 g/t Au over 21.2m; hole MA22-25 with 1.2 g/t Au over 15.6m, and hole MA21-11 with 1.1 g/t Au over 21m. Mineralization remains completely open at depth since it was only tested at depths of 100-150m below surface. The company is currently designing a second phase of drilling. The plan of this drilling program is to expand La Colmena zone eastward, initiate drill testing of the X-structure target, initiate drilling of new targets identified by the on-going modelling, and start definition drilling. In addition, Ranchero Gold is also advancing its regional reconnaissance program on the entire property. The company has identified from a previous Aster study, nine high-priority targets that warrant follow-up field work. “Ranchero Gold will continue its field investigation in parallel with the work conducted at Maíz Azul with the objective of identifying new drill targets by year-end.
  • Mammoth Resources Corp., presented results from three holes drilled at its Tenoriba project in Chihuahua. The most significant mineralized interval was encountered in hole TEN-21-13 on the Moreno Zone with 0.98 g/t Au and 15 g/t Ag (1.18 g/t AuEq) over 37.5m, including 1.13 g/t Au, 21 g/t Ag, and 0.55% Cu (2.34 g/t AuEq) over 18m.
  • Reyna Silver Corp., announced results from its 8,000m phase 2 drilling program conducted at its Guigui project in Chihuahua. Drilling highlights include hole GG21-31 with 130 g/t Ag, 0.2% Pb, and 0.2% Zn over 2.62m, including 338 g/t Ag, 0.4% Pb, and 0.4% Zn over 0.7m, including 1,040 g/t Ag, 1.5% Pb, and 0.5% Zn over 0.18m, plus 54 g/t Ag, 2.2% Pb, and 9.9% Zn over 3.15m, including 128 g/t Ag, 3.7% Pb, and 16% Zn over 1.85m; hole GG21-30 with 233 g/t Ag, 0.02% Pb, and 0.02% Zn over 2.11m; hole GG21-31 with 105 g/t Ag, 4.9% Pb, and 0.6% Zn over 1.20m; and hole GG21-33 with 106 g/t Ag, 0.9% Pb, and 0.1% Zn over 4.51m. The company reported that the mineralized skarn footprint now exceeds 0.5km2.
  • Silver Wolf Exploration Ltd., released results from 88 grab samples collected at its Ana Maria project in Durango. Highlights include 246 g/t Ag, 0.03% Cu, 4.5% Pb, and 1.7% Zn; 578 g/t Ag, 0.03% Cu, 11.9% Pb, and 0.3% Zn; 442 g/t Ag, 0.04% Cu, 11.4% Pb, and 1.5% Zn; 163 g/t Ag, 0.04% Cu, 6.2% Pb, and 0.5% Zn; 168 g/t Ag, 0.01% Cu, 4.1% Pb, and 0.2% Zn; 1,227 g/t Ag, 0.06% Cu, 25.7% Pb, and 0.6% Zn; 309 g/t Ag, 0.03% Cu, 2.3% Pb, and 4.8% Zn; 1,306 g/t Ag, 0.09% Cu, 20.4% Pb, and 7.4% Zn; and 792 g/t Ag, 0.04% Cu, 16.9% Pb, and 0.6% Zn. Silver Wolf is waiting for the final geophysical data interpretation to better define drill targets for later this year.
  • Sierra Madre Gold and Silver Ltd., commenced a maiden drilling program at its La Tigra project in Nayarit. This is the first ever drill program undertaken within the district and is focused primarily on areas defined by the ongoing trenching program. Trenching highlights include 1.22 g/t Au and 7 g/t Ag (1.3 g/t AuEq) over 11.6m, including 2.52 g/t Au and 10 g/t Ag (2.7 g/t AuEq) over 4.3m; 1.45 g/t Au and 9 g/t Ag (1.57 g/t AuEq) over 12.8m, including 3.22 g/t Au and 35 g/t Ag (3.69 g/t AuEq) over 5.3m; 1.59 g/t Au and 3 g/t Ag (1.63 g/t AuEq) over 24.2m, including 5.58 g/t Au and 4 g/t Ag (5.64 g/t AuEq) over 4.7m; and 1.78 g/t Au and 6 g/t Ag (1.85 g/t AuEq) over 22.9m, including 2.2 g/t Au and 7 g/t Ag (2.3 g/t AuEq) over 7.1m.
  • Starcore International Mines Ltd., presented results from its drilling program conducted at its Opodepe project in Sonora. The drill program consisted of 3,289.6 m in 25 short holes. Drilling highlights include hole OPDS-21-001 with 4.79 g/t AuEq over 6.73m; hole OPDS-21-018 with 2.3 g/t AuEq over 1.91m; and hole OPDS-21-021 with 1.96 g/t AuEq over 2.19m. The first stage of drilling was focused on the upper part of the veins and has been considered as recognition drilling. “However, in this year 2022, the drilling is focused on the zone of the veins which the geologists have considered as favorable zones to find economic reserves”.

ON MINING

  • Gatos Silver Inc., reported Q1, 2022 production results from its 70%-owned Cerro Los Gatos mine, Chihuahua. The company milled 234,985 tonnes of 353 g/t Ag, 0.3 g/t Au, 2.2% Pb, and 4.1% Zn at metallurgical recoveries of 89.7%, 57.1% , 89.2%, and 64.3% respectively, to produce 2.39M Oz Ag, 1.3K Oz Au, 10.3M Lb Pb, and 13.8M Lb Zn. Gatos reported over USD $40M in cash as of March 31, 2022.
  • GoGold Resources Inc., announced Q1, 2022 production results from its Parral Tailings mine in Chihuahua. The company produced 186,655 Oz Ag, 2,791 Oz Au, and 280K Lb Cu (455,991 Oz AgEq).
  • Mexus Gold US completed an open pit test heap leach Au recovery process that produced 278 Oz Au from 6 test pits at its Santa Elena mine in Sonora.  The company is looking for a mining company to joint venture with at its Santa Elena mine. Mexus believes that the property contains > 1M Oz Au. It stated that is open to also JV its Ures Au-Ag-Cu property in Sonora.
  • Minera Alamos Inc., announced Q1, 2022 production results from its Santana mine in Sonora. It mined 600K tonnes to produce 3,390 Oz Au. Cumulative Au recovery from mineralization under leach for more that 30 days is now approximately 75% with additional recovery ongoing. The company reported that the total of Au inventory moved to leach pad to date is 14K Oz. In addition, the company announced that site preparation activities were initiated at the Nicho Main Zone with a goal to start mining activities at that deposit later in Q2-2022.
  • Orla Mining Ltd., presented Q1, 2022 production results from its Camino Rojo project in Zacatecas. The company mined 684,255 tonnes and processed 539,379 tonnes of 0.8 g/t Au to produce 23,031 Oz Au. Gold guidance for the full year 2022 is maintained by Orla at 90-100 Oz Au.

ON FINANCING

  • No relevant news.

ON RESOURCES AND DEVELOPMENT

  • Vizsla Silver Corp., reported that it filed on the System for Electronic Document Analysis and Retrieval (SEDAR), an independent technical report containing a maiden mineral resource estimate on its Panuco project in Sinaloa.
  • Azucar Minerals Ltd., commenced to drill test a large lithocap target discussed previously at its El Cobre project, Veracruz. The lithocap target was outlined by several exploration techniques, including geophysics, mineralogy, geochemistry and past drilling campaigns at the property.
  • GR Silver Mining Ltd., reported results from three underground drill holes collared at its San Marcial project, Sinaloa. The most significant drill intercepts were encountered in holes SM121-07 with 201 g/t Ag, 0.02 g/t Au, 0.2% Pb, and 0.3% Zn over a true width (TW) of 3.7m, including 1,413 g/t Ag, 0.11 g/t Au, 0.9% Pb, and 1.3% Zn over a TW of 0.2m, plus 124 g/t Ag, 0.01 g/t Au, 0.1% Pb, and 0.1% Zn over a TW of 8.5m, including, 223 g/t Ag, 0.01 g/t Au, 0.1% Pb, and 0.1% Zn over a TW of 2.4m, including 553 g/t Ag, 0.03 g/t Au, 0.2% Pb, and 0.4% Zn over a TW of 0.5m. Results confirmed a significant expansion of high-grade Ag mineralization approximately 300m down dip below the lower limit of the pit-constrained San Marcial mineral resource. A two phase 4,500m drilling program is planned for 2022 at San Marcial to support future resource expansion and an updated NI 43-101 mineral resource estimate.
  • Avino Silver & Gold Mines Ltd., published results from 110 holes drilled on the oxide tailings project at its Avino property in Durango. The drilling program consisted of 3,645m. The drill density of the current program should be sufficient to upgrade most of the existing inferred mineral resources to the measured and indicated categories, and to potentially expand the resources. Selected highlights are shown below:
·        Golden Tag Resources Ltd., released results from hole 22-64 drilled at its San Diego mine, Durango. This hole is part of an exploration program targeting bulk-tonnage mineralization and encountered several mineralized intervals. Key highlights include 0.07 g/t Au, 45 g/t Ag, 0.1% Pb, 0.1% Zn, and 0.02% Cu (60 g/t AgEq) over 73.5m, including 0.45 g/t Au, 882 g/t Ag, 0.7% Pb, 0.8% Zn, and 0.17% Cu (980 g/t AgEq) over 0.91m, 0.31 g/t Au, 371 g/t Ag, 0.7% Pb, 0.4% Zn, and 0.07% Cu (441 g/t AgEq) over 2.80m, plus 0.24 g/t Au, 385 g/t Ag, 0.5% Pb, 1.4% Zn, and 0.05% Cu (482 g/t AgEq) over 1.80m, plus  0.2 g/t Au, 475 g/t Ag, 1% Pb, 4.9% Zn, and 0.15% Cu (734 g/t AgEq) over 0.53m (all in the 57 target zone); plus 3.64 g/t Au, 18 g/t Ag, 0.04% Pb, 0.1% Zn, and 0.01% Cu (317 g/t AgEq) over 0.60m (on the Montanez zone), plus 0.18 g/t Au, 212 g/t Ag, 1.8% Pb, 2.9% Zn, and 0.07% Cu (405 g/t AgEq) over 0.70m (on the Canta target area), plus 0.32 g/t Au, 355 g/t Ag, 0.5% Pb, 0.5% Zn, and 0.08% Cu (422 g/t AgEq) over 0.63, and plus 0.08 g/t Au, 286 g/t Ag, 0.2% Pb, 0.6% Zn, and 0.06% Cu (331 g/t AgEq) over 1.04m (On the Rata target area). This result extends the open pit mineralization for over 290m vertical.
·        Silver Dollar Resources Inc., announced that phase 2 exploration drilling program is underway at its la Joya project in Durango. Phase 2 drilling will remain focused on the underexplored Noria portion of the Property and new targets that were identified in the results received to date from the Phase 1 drilling program, which consisted of 11 holes for a total of 2,424 m of drilling. Assays for the first seven holes were reported and results for the remaining holes are expected shortly.
·        Silver Viper Minerals Corp., conducted a TITAN-MT deep-penetrating geophysical survey centered on the El Rubi deposit, Paredones, and El Molino target areas at its La Virginia project in Chihuahua, to assist in targeting for deeper portions of the mineralized system. The TITAN Magnetotelluric (MT) survey is capable of acquiring information from depths in excess of 1,500m below surface. Geologist of the company have reviewed preliminary 2D imaging from the first of the MT survey lines and believe the method will be very effective at La Virginia property. Silver Viper expects to receive final deliverables in the coming weeks.
·        Starcore International Mines Ltd., provided an update on the diamond drilling program conducted at its San Martin mine in Querétaro. A total of 9,410m were drilled in 2021 until the end of March, 2022 which focused on two areas of the mine:  the first focusing on the northwest part of the operating mine, and the second searching for the extension of the orebodies of high – grade discovered during the 30 years of the mine’s life.  Highlights on the area 33 include hole DC3221-10 with 7.36 g/t Au and 28 g/t Ag over 3m; hole DC3221-11 with 2.21 g/t Au and 26 g/t Ag over 8m; hole DC3221-12 with 16.27 g/t Au and 7 g/t Ag over 0.5m; and hole DC3221-15 with 12.2 g/t Au and 10 g/t Ag over 0.60m. Highlights on the area 28 include hole DC2820-214 with 2.14 g/t Au and 57 g/t Ag over 2.4m; hole DC2820-215 with 2.42 g7t Au and 21 g/t Ag over 2.95m; and hole DC2821-217 with 8.08 g/t Au and 15 g/t Ag over 2.15m.
·        Zacatecas Silver Corp., announced results from its ongoing diamond drilling program on the Panuco North and Panuco Central Veins at its Zacatecas project in Zacatecas state. Drilling highlights include hole PAN2022-042 with 1,423 g/t Ag and 0.28 g/t Au (1,440 g/t AgEq) over 1.25m; hole  PAN2022-044 with 353 g/t Ag and 0.29 g/t Au (379 g/t AgEq) over 4.35m; hole PAN2022-043 with 358 g/t Ag and 0.28 g/t Au (379 g/t AgEq) over 1.55m; hole PAN2022-046 with 201 g/t Ag and 0.28 g/t Au (222 g/t AgEq) over 1.05m; and hole PAN2022-045 with 115 g/t Ag and 0.85 g/t Au (179 g/t AgEq) over 5.96m. “Following the recent grant of 27 additional drill pads, Zacatecas Silver will be able to test the depth extension of mineralization at south-eastern Panuco North over a strike length of 600 m and to complete a maiden drill program along the central part of the Panuco North vein over a strike length of 1.4 km”.

ON DEALS AND CORPORATE ISSUES

·        Sailfish Royalty Corp., provided an update on its previously announced Swordfish silver transaction. The proposed transaction is expected to result in the transfer of the Company’s wholly owned Gavilanes silver property located in Durango, Mexico. Closing of the Gavilanes Acquisition is subject to, among other things, Swordfish acquiring the Commonwealth Silver-Gold Project in exchange for shares of Swordfish, a concurrent private placement financing for proceeds of USD $5M.

ON SOCIAL RESPONSIBILITY

·        Esperanza Silver has a Community Engagement Plan to meet the objectives proposed by the New Socially and Environmentally Responsible Mining Model. It has the objective of developing a gold and silver mine in the lands of common use of the community of San Agustín Tetlamam, located in the municipality of Temixco in the state of Morelos. “This new way of developing mining, prioritizing social bonding and the use of techniques that allow avoiding, minimizing, mitigating and compensating for environmental impacts, is due to the genuine interest of Esperanza Silver de México and Alamos Gold Inc. in responding to the demands of a society interested in caring for the environment and the social environment.”

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, flow banded rhyolite in Durango, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Fifth Week of March, 2022

By Jorge Cirett

During the 13th week of the year (March 28th to April 3rd, 2022), at least 32 press releases were announced by companies working in Mexico. To note, five companies posted exploration advances on their properties, three released quarterly and full year 2021 reports, one informed on the end of a strike and one declared commercial production. One announced the granting of stock options, three updated on project work, three reported drill results on their advanced properties, two released new resource estimates. ON MEXICO ISSUES, three of the top eight silver intercepts on the fifth week of March were obtained by companies working in Mexico. For the quarter, four of the top ten silver intercepts were from projects in Mexico. ON EXPLORATION, in Sonora, Tocvan Ventures provided drill results on the Pilar project; Infinitum Copper commenced drilling at Adelita; Silver Spruce had the preventive report approved for drilling at Jackie. In Zacatecas, Galore Resources informed on drilling at Dos Santos project. In Nayarit, Sierra Madre Gold and Silver released additional trenching results at La Tigra. ON MINING, SilverCrest Metals, Excellon Resources and Mag Silver released quarterly and full year 2021 reports. Excellon Resources informed the strike on its Platosa mine in Durango was terminated. Orla Mining initiated commercial production at Camino Rojo, in Zacatecas. ON FINANCING, Inomin Mines granted stock options to director and a contractor.  ON RESOURCES AND DEVELOPMENT, Mexus Gold informed partner company Irmex is modelling the Mabel deposit in Sonora. Solaris Resources is preparing exploration work at La Verde, in Michoacan. Vizsla Silver reported drill results at Panuco, in Sinaloa. Prime Mining delivered drill results from Los Reyes, in Sinaloa. Discovery Silver released results from 17 holes at Cordero, Chihuahua. Torex Gold presented results of the updated technical report on the Morelos Complex in Guerrero. First Majestic Silver presented 2021 resource estimates for its properties. Silver Valley Metals updated on its potassium-lithium salars in Zacatecas and San Luis Potosi. ON DEALS AND CORPORATE ISSUES, Tamino Minerals is triggering a securities fraud probe. Huntington Exploration acquired the El Grande project in Nayarit. Xali Gold ratified the agreement on the tailings with El Oro Municipality in Estado de Mexico. Prime Meridian Resource updated on the purchase of La Verde project in Sonora.  ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • Of the top eight silver intersects released on the fifth week of March, three were by companies working in Mexico, according to Miner Deck. Discovery Silver was first with 45.6 m @ 125 gpt Ag at Cordero in Chihuahua, Vizsla Silver was sixth 2.75 m @ 322 gpt Ag at Panuco, in Sinaloa, and Prime Mining was eighth with 42.7 m @ 43 gpt Ag at Los Reyes, in Sinaloa.
  • According to Miner Deck, of the top ten silver intersects released on Q1 2022, four were by companies working in Mexico. Pan American Silver was fourth with 322.9 m @ 64 gpt Ag at La Colorada Skarn in Zacatecas, GoGold Resources was fifth with 25.7 m @ 776 gpt Ag at Los Ricos, in Jalisco; Silver Tiger was eight with 25.9 m @ 687 gpt Ag at El Tigre, in Sonora and Radius Gold was tenth with 96 m @ 167 gpt Ag at Amalia, in Chihuahua.

ON EXPLORATION

  • Sierra Madre Gold and Silver Ltd. announced additional results from the ongoing trenching program at La Tigra, in Nayarit. Highlighted intervals comprise 6.1 m @ 0.98 gpt Au; 24.2 m @ 1.59 gpt Au (including 4.7 m @ 5.58 gpt Au); 22.9 m @ 1.78 gpt Au, 6 gpt Ag; 6.6 m @ 3.42 gpt Au.
  • Galore Resources Inc. provided a drilling update of Los Gemelos, at its Dos Santos project in Zacatecas. Three holes have been finished on the San José area, showing recrystallized limestone, dikes and sills of intermediate composition with phyllic and argillic alteration, multiple bodies with hydroxides, hematite, calcite, and local sulfides and quartz, and hydrothermal breccia cemented by calcite and iron oxides. ”The mineralization is repetitive that is concentrated as veins, veins and stratabound bodies, hosted between the carbonate marine sedimentary sequence and the cupula of an unexhumed pluton….”.
  • Tocvan Ventures Corp. provided results for the three first holes of the phase III drilling campaign at Pilar, in Sonora. Highlighted drill-length intervals comprise 33.3 m @ 0.63 gpt Au (including 21.7 m @ 0.94 gpt Au) and 5.5 m @ 0.64 gpt Au, 10 gpt Ag in core holes and 6.1 m @ 0.51 gpt Au, 8 gpt Ag in a reverse circulation hole.
  • Infinitum Copper Corp. commenced diamond drilling at La Adelita project in Sonora and Sinaloa. The program envisages a total of 9,000 m of drilling in two phases, with phase I consisting of 3,000 m targeting areas within and adjacent to the existing mineralized zones, and some drilling on new zones like Cerro Grande footwall, Pericos and Las Trancas Sur. A magneto-telluric geophysical is underway, and is expected to aid in targeting.
  • Silver Spruce Resources Inc. informed the approval by SEMARNAT (environmental agency) of the preventive report for the 1,130 hectares Jackie project in Sonora. “Exploration plans were submitted for a 500-1,000-metre trenching program followed by an initial 1,000-2,000-metre reverse circulation drill program”.

ON MINING

  • SilverCrest Metals Inc. reported the financial results for the year 2021. At the end of the year construction progress at Las Chispas in Sonora was 86.2%, slightly ahead of schedule. Since 2019 over 17.5 km of underground development has been completed at Las Chispas, and during last year 114,143 m of drilling were completed, mostly as infill holes. At El Picacho, 40 km north of Las Chispas, 80,700 m of drilling were completed in 2021. At the end of the period the SilverCrest held cash and cash equivalents of $176.5 M, and $30 M remaining under a $120 M financing facility.
  • Excellon Resources Inc. posted financial results for Q4 and full year 2021. During the year, 85.5 K tonnes were mined, 86.0 K tonnes milled @ 494 gpt Ag, 5.01% Pb, 6.03% Zn, recovering 90.5% Ag, 78.5% Pb, 83.7% Zn, to produce 1.22 M Oz Ag, 7.61 M Lb Pb, 9.01 M Lb Zn (2.02 M Oz AgEq). Cash cost was $13.01 per Oz Ag and AISC $26.78 per Ag Oz. “current mining is entering an area of the deposit that steepens significantly, with fewer vertical-tonnes-per-metre than historically encountered…. the Company currently expects to wind down operations at Platosa during Q3 2022, subject to results from ongoing exploration programs” (Note by editor.- Although high-grade, Platosa seems to be at the end of its mine life due to a combination of deeper ores and high de-watering costs).
  • Excellon Resources Inc. announced on April 1, 2022 the resolution of the labor action initiated on March 7 by the Sindicato Nacional Minero Metalúrgico (Miner’s Union) at its Platosa mine in Durango.
  • Mag Silver Corp. presented its financial results for year 2021. The 4,000 tpd Juanicipio (56% Fresnillo PLC, 44% Mag Silver) plant was delivered to plant commissioning late in Q4, but due to regulatory approval commissioning was extended to Q2 2022. It is expected the plant to be working 85% to 90% of capacity by late 2022. Processing of mineralized headings from Juanicipio continues at the nearby Fresnillo plant and has begun to be processed at the Saucito facilities; Processing rates have increased from 38 K tonnes per month in Q4 to 45 K tonnes on the first two months of 2022. During 2021, 251.9 K tonnes from Juanicipio were processed, averaging 470 gpt Ag, to produce 2.97 M Oz Ag, 5,975 Oz Au, 1,065 tonnes Pb, 1,519 tonnes Zn. According to Juanicipio operator, Fresnillo PLC, the project construction is expected to be delivered on budget at $440 M. As of end of 2021 Mag held cash of $56.7 M.
  • Orla Mining Ltd. declared commercial production at the Camino Rojo Oxide mine in Zacatecas. “The declaration of commercial production at Camino Rojo comes after a successful commissioning period which included the ramp up of mining and processing to sustained throughput levels in excess of 75% of designed nameplate capacity of 18,000 tonnes per day”.

ON FINANCING

  • Inomin Mines Inc. informed 350 K stock options were granted to director and a contractor of the company (La Gitana, Oaxaca).

ON RESOURCES AND DEVELOPMENT

  • Mexus Gold US. informed that its partner at the Mabel project in Sonora, Irmex, “has been working on modelizing the Mexus data including the 611 core and RC holes previously carried out by Pacific Comox before acquisition by Mexus Gold”. To date Irmex has calculated a volume of 184.4 K tonnes @ 1.15 gpt Au, 76 gpt Ag, but work continues to increase the resource. Signature of the definitive agreement is planned for late April 2022.
  • Solaris Resources Inc. is planning more exploration work to advance its La Verde project (60% Solaris, 40% Teck) in Michoacan. The work envisaged includes the possible extensions of higher-grade ore. A spin-off company, Solaris Exploration, probably will continue with the work on La Verde, while Solaris Resources focus in Ecuador.
  • Vizsla Silver Corp. reported results from 53 holes on the Napoleon vein corridor at Panuco, in Sinaloa. The mineralized zone has been extended 350 m, which takes the total length of the corridor to 2,500 m. Highlighted true-width intervals comprise 4.00 m @ 55 gpt Ag, 20.38 gpt Au, 0.2% Pb, 3.0% Zn and 9.42 m @ 85 gpt Ag, 2.73 gpt Au, 0.9% Pb, 4.1% Zn (including 2.17 m @ 85 gpt Ag, 7.91 gpt Au, 1.2% Pb, 7.4% Zn) on the Napoleon vein, 2.7 m @ 746 gpt Ag, 6.27 gpt Au, 0.7% Pb, 2.9% Zn on the Napoleon hanging wall vein and 0.47 m @ 17 gpt Ag, 60.5 gpt Au, 0.4% Pb, 1.4% Zn at the Josephine vein.
  • Prime Mining Corp. released results from the phase II drill program on El Zapote Sur, one of eight ore deposits, at its Los Reyes project in Sinaloa. Highlighted true-width intervals comprise 27.4 m @ 2.38 gpt Au, 43 gpt Ag; 5.8 m @ 7.75 gpt Au, 57 gpt Ag; 3.9 m @ 2.68 gpt Au, 15 gpt Ag; 5.6 m @ 2.91 gpt Au, 41 gpt Ag; 4.3 m @ 2.73 gpt Au, 23 gpt Ag; 8.8 m @ 1.49 gpt Au, 20 gpt Ag; 2.3 m @ 7.10 gpt Au, 20 gpt Ag; 5.3 m @ 1.92 gpt Au, 42 gpt Ag; 18.2 m @ 1.09 gpt Au, 32 gpt Ag. Currently nine rigs are operating at Los Reyes, having completed 30,000 m (in 106 holes) of the planned 50,000 m program. “Mineralization at Zapote South consists primarily of white to grey crystalline to chalcedonic quartz, quartz breccia and stockwork ….. fault structures within or along the margins of rhyolite dykes …… Quartz is massive to crustiform, locally displaying colliform to bladed replacement textures. Higher-grade intervals are marked by finely banded green adularia”.
  • Discovery Silver Corp. informed on results from 17 holes from the phase 2 drilling program at Cordero, in Chihuahua. Highlighted core-length intervals comprise 45.6 m @ 125 gpt Ag, 0.54 gpt Au, 2.0% Pb, 2.7% Zn (328 gpt AgEq); 177.4 m @ 27 gpt Ag, 0.03 gpt Au, 0.1% Pb, 1.1% Zn (74 gpt AgEq); 44.5 m @ 20 gpt Ag, 0.03 gpt Au, 0.1% Pb, 2.2% Zn (106 gpt AgEq) outside the current resource, 38.6 m @ 91 gpt Ag, 0.11 gpt Au, 1.3% Pb, 1.3% Zn (189 gpt AgEq) beneath the PEA pit and 32.3 m @ 70 gpt Ag, 0.12 gpt Au, 0.8% Pb, 1.0% Zn (142 gpt AgEq); 17.7 m @ 68 gpt Au, 0.03 gpt Au, 0.3% Pb, 0.4% Zn on the margins of the PEA pit. “This current set of results was predominantly targeting the expansion of the open pit and the resource in the northeast of the deposit”.
  • Torex Gold Resources Inc. presented the results of the updated technical report on its Morelos Complex in Guerrero. The Morelos Complex has a baseline cumulative cash flow of $1,418 M and after-tax (NPV 5%) of $1,040 M, while the Media Luna (ML) projects presents an after-tax NPV(5%) of $458 M. Life of mine (LOM) estimated at 11.5 years, commencing in April 2022, with an annualized production of 374 K Oz AuEq at total cash cost $809 per Oz AuEq and AISC of $954 per Oz AuEq. Total mineral reserves of 5.123 M Oz AuEq @ 3.90 gpt AuEq.
  • First Majestic Silver Corp. announced its 2021 mineral reserve and mineral resource estimates for the company’s properties, including figures from its operations in Mexico. In its three Mexican mines (San Dimas in Durango, Santa Elena/Ermitaño in Sonora and La Encantada in Coahuila), the company holds 63 M Oz Ag, 879 K Oz Au in the proven and probable categories (included in resources), as well as 111 M Oz Ag, 1.28 M Oz Au in the measured and indicated resource categories and 75 M Oz Ag, 829 K Oz Au in the inferred resource category.
  • Silver Valley Metals Corp. updated on its potassium-lithium salars in Zacatecas and San Luis Potosi. “it is in advanced discussions and under NDA’s with several well financed and highly technical groups ……… All options remain open for the Company, including a direct investment into the Company itself and the Company moving the project forward, to a joint venture, to a spin out of the asset, to a buy-out of the entire asset”. The inferred resource on the properties comprise 243 K tonnes of lithium carbonate equivalent and 12.3 M tonnes of sulphate potash in 120 M tonnes @ 4.6% K, 380 ppm Li.

ON DEALS AND CORPORATE ISSUES

  • Tamino Minerals Inc. informed it is planning to trigger a Securities Fraud Probe against whomever results responsible of highly unusual “market activity witnessed during the last several months” (El Volcan, Sonora).
  • Huntington Exploration Inc. completed the acquisition of Lago de Oro S.A. de C.V. and its 550 square km El Grande gold project in Nayarit. A definitive agreement was reached to purchase all shares of the holding company for a cash payment of US$500 K, issuing 4 M shares of the company, a 2% NSR to the vendor and milestone payments on resources above 500 K Oz Au backed by NI-43-101 technical reports, capped at 20 M shares.
  • Xali Gold Corp. announced the ratification of the tailings and tourism agreements with the El Oro Municipality on El Oro tailings project in Estado de Mexico. “Renewing the Tailings Agreement is the final item required for Sun River Gold Corp (“Sun River”), who have the option to acquire 100% of the Tailings Project from Xali’s subsidiary…. The Tailings Agreement provides Xali Gold with the right to recover all available gold and silver from the tailings deposit and pay to the Municipality of El Oro an 8% Net Profits Interest”.
  • Prime Meridian Resources Corp. updated on the option to purchase La Verde project in Sonora. Prime Meridian (PMR) formed the Mexican subsidiary Sonoran Copper, S.A. de C.V. and reserved the new company’s new name Sonoran Desert Corporation. PMR has to make a US$200 K payment on Exchange approval, and a further US$200 K payment on late February 2023. Also, Cdn$3.75 M in shares of PMR prior to the first anniversary, and Cdn$2.5 M of PMR shares on the second anniversary. A 2% NSR on production from skarn mineralization will be retained by the vendor, and a 2% NSR on production from porphyry mineralization, with PMR having the right to buy 1% for US$1 M.

ON SOCIAL RESPONSIBILITY

  • No Relevant News.

On the image below: Epidote bearing porphyritic rock from a project in the Sonoran desert. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of March, 2022. 

Sheetd quartz veins

By Miguel A Heredia

During the 12th week of the year (March 21st to March 27th, 2022), at least 28 press releases were announced by companies working in Mexico, with eight disclosing deals and corporate issues, seven reporting resources and developments of their properties, seven informing on exploration results, four communicating production and financial results, and two announcing financial issues,   ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Infinitum Copper commenced a geophysical survey at its Adelita project, Tocvan completed 1,540m of its phase III drilling program at its Pilar project and provided an update on its Picachos project, the Aztec Minerals-Kootenay JV released results from the ongoing 2022 RC program on its Cervantes project, and Benjamin Hill announced results of the recently completed induce polarization survey and provided an update on the ongoing drill program at its Sonora project. In Chihuahua, Radius announced drill results from its ongoing drilling program at its Amalia project. In Coahuila, Monumental announced that it will be visiting its Jemi heavy rare earth element property during the month of May. ON MINING, Fortuna Silver reported Q4 and full year 2021 production results from its San Jose Mine in Oaxaca. Golden Minerals announced full year 2021 financial results and provided a 2022 forecast for its Rodeo production in Durango. Impact Silver reported full year 2021 production and financial results from its Zacualpan mining district in the State of México. SilverCrest presented full year 2021 financial results. ON FINANCING, Endeavour closed a bought deal financing for gross proceeds of USD $46M, including the exercise of the over-allotment option in full (Pitarrilla project, Durango). Zacatecas Silver announced the closing of a $19.15M offering of subscription receipts (Esperanza Gold project, Morelos) ON RESOURCES AND DEVELOPMENT, Zacatecas Silver received the approval from the Mexican Federal Environmental Permitting Agency (SEMARNAT) for 27 new drill pads at its Panuco project, Zacatecas. Silver Tiger reported results from its ongoing drill program from its El Tigre project in Sonora. Torex announced it will release an updated technical report for the Morelos Complex by March 31, 2022. Silver Dollar reported results from the drilling program recently completed at its La Joya project in Durango. Golden Minerals completed technical reports for their Rodeo and Velardeña properties in Durango, including updated mineral resources. Golden Tag released results from 2 holes drilled at its San Diego project in Durango. ON DEALS AND CORPORATE ISSUES, Guanajuato Silver announced the appointment of Ramón Dávila to the position of President (Cubo and Pinguico projects, Guanajuato). Avino closed the acquisition of La Preciosa project in Durango with Coeur Mining. Aztec Minerals informed that its common shares traded in USA under the symbol AZZTF are now Depository Trust Company (Cervantes project, Sonora). Gold Resource announced its 2022 annual meeting of shareholders (Don David Gold Mine, Oaxaca). Magna entered into an amending agreement with Peal de México on the acquisition of the San Francisco mine, Sonora. Tarachi announced the appointment of its VP of Operation, and signed a new land and water rights agreement with the local Magistral Ejido Community (Magistral Tailings project, Durango). Bear Creek provided an update on the acquisition of Mercedes mine in Sonora. GoGold reported results of six holes from its Los Ricos North project in Jalisco.  ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUE

  • No relevant news.

ON EXPLORATION

  • Infinitum Copper Corp., commenced a magneto-telluric geophysical survey at its Adelita project in Sonora. It will consist of 10 lines totaling 14.8km and is expected to be completed in three weeks.
  • Tocvan Ventures Corp., completed nine holes for a total of 1,540m of its phase III drilling program at its Pilar project in Sonora, looking to expand the Main Zone. All samples have been submitted to lab and results will be released once they are available. At Picachos project, the company is doing site visits to determine the best use of exploration funds in the near term. Currently, Tocvan has already obtained drill and trenching fully permits for 15km and 2km respectively. Drilling will take place once assessment of key target areas by mapping, geochemistry and geophysics are complete.
  • The Aztec Minerals Corp –Kootenay Silver Inc JV released results from the ongoing 2022 RC program on its Cervantes project in Sonora. Drilling highlights include hole CAL22-008 with 0.88 g/t Au over 54.72m, including 1.96 g/t Au over 13.72m, plus 0.74 g/t Au over 7.6m; hole CAL22-009 with 0.5 g/t Au over 86.64m; and hole CAL22-010 with 0.53 g/t Au over 138.82m, including 1.62 g/t Au over 10.67m. The Aztec-Kootenay JV has now completed its Phase 2 RC program with 26 holes for a total of 4,649m drilled. “It covers an area now measuring approximately 900m long by 250 to 500m wide, with demonstrated, continuous mineralization up to 265 metres depth vertically. The porphyry gold-copper mineralization is still open in all directions”. 
  • Benjamin Hill Mining Corp., announced results of the recently completed induce polarization (IP) survey and provided an update on the ongoing drill program at its Sonora project in Sonora. The IP survey consisted of eight lines for a total of 11,200m over known zones of mineralization. Multiple geophysical anomalies were detected including seven high chargeability and six medium chargeability anomalies, and three high priority resistivity anomalies, and one medium priority resistivity anomaly. “The affinity of the geophysical anomalies with positive surface sampling results has provided the geological team with prime drill targets in each exploration area”. On the other hand, the company has completed 13 of the planned 32 holes for a total of 3,310.85m out of the 8,500m planned. Assays are still pending.
  • Radius Gold Inc., announced drill results from its ongoing drilling program on El Cuervo target at its Amalia project in Chihuahua. Drilling highlights include hole AMDD21-49 with 144 g/t Ag and 0.92 g/t Au over a true width (TW) of 15.3m, including 190 g/t Ag and 1.01 g/t Au over a TW of 9.1m, including 469 g/t Ag and 0.97 g/t Au over a TW of 0.9m, including 483 g/t Ag and 3.94 g/t Au over a TW of 1m; and hole AMDD21-48 with 116 g/t Ag and 1.39 g/t Au over a TW of 1.5m, plus 32 g/t Ag and 0.56 g/t Au over a TW of 1.3m, plus 77 g/t Ag and 0.61 g/t Au over a TW of 6.1m, including 125 g/t Ag and 0.68 g/t Au over a TW of 2.1m, and 54 g/t Ag and 0.34 g/t Au over a TW of 36.6m, including 84 g/t Ag and 0.75 g/t Au over a TW of 10.1m, including 139 g/t Ag and 4.02 g/t Au over a TW of 1.65m.
  • Monumental Minerals Corp., announced that it will be visiting its Jemi heavy rare earth element property during the month of May to field review airborne radiometric and magnetic geophysical features that relate to peralkaline rocks and associated ore-grade concentrations of rare earth elements, with the aim of defining drill targets.

ON MINING

  • Fortuna Silver Mines Inc., reported Q4 and full year 2021 production results from its San Jose Mine in Oaxaca. In Q4, 2021 the company milled 262,282 tonnes of 219 g/t Ag and 1.27 g/t Au with metallurgical recoveries of 93% and 92% respectively, to produce 1.72 M Oz Ag and 9.9K Oz Au. It sold 1.73M Oz Ag and 9,983 Oz Au at a realized price of USD $23.35 per Oz Ag and USD $1,797 per Oz Au. Fortuna reported a cash and all in sustaining cost (AISC) of USD $9.15 and USD $14.52 per Oz AgEq respectively, and a net smelting royalty (NSR) of USD $207.57 per tonne. For the full year 2021, the company reported that it milled 1,041,154 tonnes of 209 g/t Ag and 1.29 g/t Au with metallurgical recoveries of 92% and 91% respectively, to produce 6.62M Oz Ag and 39.4K Oz Au. Fortuna sold 6.43M Oz Ag and 34.4K Oz Au at a realized price of USD $25.15 per Oz Ag and USD $1,798 per Oz Au. The company reported a cash and AISC of USD $9.30 and USD $14.38 per Oz AgEq respectively, and a NSR of USD $210.95 per tonne.
  • Golden Minerals Company announced full year 2021 production and financial results and provided a 2022 forecast for its Rodeo production in Durango. The company processed from Rodeo mine, Durango the amount of 149K tonnes of 4.1g/t Au and 12 g/t Ag with metallurgical recoveries of 75% and 90% respectively to produce 14.4K Oz Au and 59.9K Oz Ag at a cash cost of USD $937 per payable Oz Au. In addition, Golden reported revenues of USD $25.6M, a net operating margin of USD $12.3M, a cost of metals sold of USD $13.3M, cash and equivalents balance of USD $12.2M and a cash inflow of USD $16.6M. The company also provided a 2022 forecast for its Rodeo mine. It expects to process between 175K-180K tonnes of 2.9g/t Au and 9 g/t Ag, with metallurgical recoveries of approximately 80% for both Au and Ag to produce between 12K-14K Oz Au and 42K-47K Oz Ag at a cash cost of USD $1,100-USD$ 1,200 per Oz Au.
  • Impact Silver Corp., reported full year 2021 production and financial results from its Zacualpan mining district in the State of México. The company milled 145,458 tonnes of 172 g/t Ag to produce 617.7K Oz Ag. It sold 633.9K Oz Ag. Impact reported revenue of $17.7M, a mine operating earnings before amortization and depreciation of $4.7M,  earnings before interests, taxes, depreciation and amortization of $1.5M, cash flow from operations of $3M, cash position of $21.1M, and working capital of $21.5M.
  • SilverCrest Metals Inc., presented full year 2021 financial results. The company reported cash and cash equivalents for USD $176.5M and USD $30M remains under a USD $120M project financing facility. It also reported a cash inflow offset by USD $32.9M. During 2021, SilverCrest committed 7.2% (USD $103.6M) of the USD $137.7M feasibility study capital cost estimate. Of the remaining capital to be incurred in 2022, 20.7% (USD $8.9M) is related to the Ausenco fixed price engineering, procurement and construction contract for process plant construction and 14.7% (USD $6.3M) is unused contingency. 

ON FINANCING

  • Endeavour Silver Corp., closed a bought deal financing for gross proceeds of USD $46M, including the exercise of the over-allotment option in full. Gross proceeds will be used by the company to pay the USD $35M cash consideration payable to SSR Mining Inc., for the acquisition of Pitarrilla project in Durango, as well as for general corporate purposes and working capital.
  • Zacatecas Silver Corp., announced the closing of a $19.15M offering of subscription receipts. Net proceeds will be used to pay the USD $5M cash consideration for the acquisition of the Esperanza Gold project to Alamos Gold, begin the advancing the Esperanza project towards production, fund the ongoing drill program at the company´s existing project and for general working capital purposes.

ON RESOURCES AND DEVELOPMENT

  • Zacatecas Silver Corp., received the approval from the Mexican Federal Environmental Permitting Agency (SEMARNAT) for 27 new drill pads at its Panuco project, Zacatecas. The company is presently completing environmental studies at Muleros and San Manuel ahead of drill pad applications.
  • Silver Tiger Metals Inc., reported results from its ongoing drill program from its El Tigre project in Sonora. Drilling highlights include hole ET-21-296 on Sooy Vein with 1.73 g/t Au, 687 g/t Ag, 0.01% Cu, 0.2% Pb, and 0.01% Zn (822 g/t AgEq) over 25.9m, including 2.30 g/t Au, 921 g/t Ag, 0.02% Cu, 0.2% Pb, and 0.01% Zn (1,101 g/t AgEq) over 19m, including 4.65 g/t Au, 1,877 g/t Ag, 0.03% Cu, 0.4% Pb, and 0.02% Zn (2,239 g/t AgEq) over 9.2m, including 0.39 g/t Au, 2,450 g/t Ag, 0.03% Cu, 0.3% Pb, and 0.01% Zn (2,489 g/t AgEq) over 2.9m; and hole ET-22-319 on Sooy Vein with 0.24 g/t Au, 160 g/t Ag, 0.01% Cu, 0.2% Pb, and 0.01% Zn (186 g/t AgEq) over 17.3m, including 0.56 g/t Au, 362 g/t Ag, 0.02% Cu, 0.6% Pb, and 0.02% Zn (420 g/t AgEq) over 6.5m, including 1.15 g/t Au, 690 g/t Ag, 0.04% Cu, 0.9% Pb, and 0.01% Zn (804 g/t AgEq) over 2.5m, including 1.44 g/t Au, 887 g/t Ag, 0.07% Cu, 1% Pb, and 0.01% Zn (1,024 g/t AgEq) over 1.5m.
  • Torex Gold Resources Inc., announced it will release an updated technical report for the Morelos Complex by March 31, 2022.
  • Silver Dollar Resources Inc., reported results from the drilling program recently completed at its La Joya project in Durango. Drilling highlights include holes NOR-21-002 with 110 g/t Ag, 0.19 g/t Au, 0.04% Cu, 0.2% Pb, and 0.3% Zn (131 g/t AgEq) over 5.37m, including 141.3 g/t Ag, 0.06 g/t Au, 0.04% Cu, 0.4% Pb, and 0.4% Zn (161 g/t AgEq); and hole NOR-21-004 with 49 g/t Ag, 19.2 g/t Au, 0.48% Cu, and 0.03% Zn (1,590 g/t AgEq) over 3m, plus 17 g/t Ag, 4.3 g/t Au, 0.1% Cu, and 0.01% Zn (363 g/t AgEq) over 8.37m, including 58 g/t Ag, 29 g/t Au, 0.15% Cu, and 0.01% Zn (2,369 g/t AgEq) over 1.01m. “Drilling focused on the underexplored Noria portion of the Property and was successful in identifying possible structural extensions of the known mineralized zones as well as the discovery of a new shallow high-grade gold zone. The next phase of drilling will focus on these new targets and is expected to commence before month-end”.
  • GoGold Resources Inc., reported results of six holes drilled at the Mololoa deposit within its Los Ricos North project in Jalisco. Significant mineralization was encountered in hole LRGM-21-093 with 0.19 g/t Au and 111 g/t Ag (1.68 g/t AuEq or 126 g/t AgEq) over 1.7m, plus 0.16 g/t Au and 213 g/t Ag (3.01 g/t AuEq or 226 g/t AgEq) over 2.3m, including 0.59 g/t Au and 912 g/t Ag (12.75 g/t AuEq or 956 g/t AgEq) over 0.5m, plus 0.28 g/t Au and 100 g/t Ag (1.62 g/t AuEq or 122 g/t AgEq) over 31.9m, including 3.33 g/t Au and 827 g/t Ag (14.36 g/t AuEq or 1,077 g/t AgEq) over 0.6m; and hole LRGM-21-104 with 1.09 g/t Au and 235 g/t Ag (4.22 g/t AuEq or 317 g/t AgEq) over 33.4m, including 3.56 g/t Au and 765 g/t Ag (13.76 g/t AuEq or 1,032 g/t AgEq) over 9.8m, including 8.48 g/t Au and 1,682 g/t Ag (30.9 g/t AuEq or 2,317 g/t AgEq) over 3.5m, including 17.15 g/t Au and 3,080 g/t Ag (58.22 g/t AuEq or 4,366 g/t AgEq) over 1.1m.
  • Golden Minerals Company completed technical reports for their Rodeo and Velardeña properties in Durango, including updated mineral resources. At Rodeo, Durango, Mineral Resources were calculated having an effective date of October 31, 2021, assuming prices of USD $1,800/ Oz Au and USD $25/Oz Ag.  For the low-grade material (stockpile), a cutoff of 1.0 g/t Au was considered to estimate measured resources of 208,500 tonnes grading 1.24 g/t Au and 10 g/t Ag for a total of 8.3K Oz Au and 67.2K Oz Ag contained; indicated resources of 86,400 tonnes of 1.58 g/t Au and 5 g/t Ag for a total of 2.1K Oz Au and 9.4K Oz Ag contained. Measured + Indicated resources are 264,900 tonnes of 1.23 g/t Au and 9 g/t Ag for a total of 10.5K Oz Au and 76.6K Oz Ag contained. Inferred resources are 1,500 tonnes of 1.2 g/t Au and 4 g/t Ag for a total of 58 Oz Au and 198 Oz Ag contained. For the high-grade material a cutoff of 1.6 g/t Au was considered to estimate measured resources of 10,700 tonnes grading 3.11 g/t Au and 13 g/t Ag for a total of 31.1K Oz Au and 131K Oz Ag contained; indicated resources of 43,700 tonnes grading 3.17 g/t Au and 11 g/t Ag for a total of 4.5K Oz Au and 15K Oz Ag contained. Measured + Indicated resources are 954,400 tonnes of 3.12 g/t Au and 13 g/t Ag for a total of 35.6K Oz Au and 146K Oz Ag contained. The Life of Mine is 24 months of operation and assumes 12 months to perform closure and reclamation.  The company reported a pre-tax net present value (NPV) of USD $22.9M using a discount rate of 8%. At Velardeña, Durango, Mineral Resources were calculated having an effective date of February 28, 2022, assuming prices of USD $1,744/Oz Au, USD $23.70/Oz Ag, USD $0.97/Lb Pb, and USD $1.15/Lb Zn. Mineral resources are reported at a Net Smelting Royalty of USD $175. Measured resources estimated are 385K tonnes of 327 g/t Ag, 5.58 g/t Au, 1.6% Pb, and 1.8% Zn for a total of 4M Oz Ag, 69K Oz Au, 13.75M Lb Pb, and 15.1M Lb Zn contained; Indicated resources estimated are 883.8K tonnes of 316 g/t Ag, 4.88 g/t Au, 1.5% Pb, and 1.8% Zn for a total of 8.98M Oz Ag, 138.5K Oz Au, 30.16M Lb Pb, and 34.34M Lb Zn contained. Measured + Indicated resources are 1,268,800 tonnes of 319 g/t Ag, 5.09 g/t Au, 1.6% Pb, and 1.8% Zn for a total of 13.03M Oz Ag, 207.5K Oz Au, 43.9M Lb Pb, and 49.94M Lb Zn contained. Inferred resources estimated are 1,709,200 tonnes of 362 g/t Ag, 4.8 g/t Au, 1.7% Pb, and 1.9% Zn for a total of 19.89M Oz Ag, 263.8K Oz Au, 65.26M Lb Pb, and 70.2M Lb Zn. The Life of Mine is 11 years, with a pre-tax NVP of USD $119M using a discount rate of 8%.
  • Golden Tag Resources Ltd., released results from 2 holes drilled at its San Diego project in Durango. Hole 21-62 intersected several structures. This hole encountered 0.04 g/t Au, 214 g/t Ag, 0.2% Pb, 0.5% Zn ,and 0.03% Cu (244 g/t AgEq) over 1.75m, plus 0.06 g/t Au, 107 g/t Ag, 0.1% Pb, 0.08% Zn, and 0.03% Cu (122 g/t AgEq) over 0.50m (in the San Jose Zone), plus 1.29 g/t Au, 72 g/t Ag, 0.04% Pb, 0.07% Zn, and 0.02% Cu (182 g/t AgEq) over 2m (on the 57 NE A Zone), plus 0.1 g/t Au, 305 g/t Ag, 2% Pb,3% Zn, and 0.09% Cu (504 g/t AgEq) over 1.2m, plus 0.12 g/t Au, 137 g/t Ag, 0.4% Pb, 0.6% Zn, and 0.05% Cu (187 g/t AgEq) over 0.65m (in the 57 NE B zone). Hole 21-63 also intersected several mineralized intervals. Highlights include 0.48 g/t Au, 142 g/t Ag, 1.3% Pb, 1.6% Zn, and 0.12% Cu (295 g/t AgEq) over 2.10m, plus 0.11 g/t Au, 147 g/t Ag, 0.6% Pb, 0.8% Zn, and 0.04% Cu (211 g/t AgEq) over 0.60m (in the 57 NE B zone), plus 0.16 g/t Au, 284 g/t Ag, 4.4% Pb, 1.4% Zn, and 0.04% Cu (491 g/t AgEq) over 0.50m (in the Montanez zone), plus 0.11 g/t Au, 76 g/t Ag, 0.6% Pb, 1.4% Zn, and 0.05% Cu (166 g/t AgEq) over 10.15m, including 0.15 g/t Au, 229 g/t Ag, 2.2% Pb, 5.6% Zn, and 0.09% Cu (541 g/t AgEq) over 1.66m, plus 0.11 g/t Au, 146 g/t Ag, 1.2% Pb, 1.5% Zn, and 0.1% Cu (260 g/t AgEq) over 1m, plus 0.28 g/t Au, 730 g/t Ag, 4% Pb, 4.6% Zn, and 0.4% Cu (1,095 g/t AgEq) over 0.57m (in the Canta Zone).

ON DEALS AND CORPORATE ISSUES

  • Avino Silver & Gold Mines Ltd., closed the acquisition of La Preciosa project in Durango with Coeur Mining Inc., by paying USD $15.3M in cash; a promissory note for USD $5M in favour of Coeur, payable without interest on or before March 21. 2023;  the issuance of 14M common shares of Avino to Coeur; the issuance of 7M share purchase warrants exercisable at USD $1.09 per share until September 21, 2023; an additional cash payment of USD $8.75M, to be paid no later than 12 months after initial production at La Preciosa; a 1.25% NSR on the La Gloria and Abundancia areas of La Preciosa and 2% gross value royalty on all of other areas of La Preciosa; and a payment of USD $0.25 per silver equivalent ounce of new mineral reserves discovered and declared outside of the current mineral resource area at La Preciosa, subject to a cap of USD $50M.
  • Aztec Minerals Corp., informed that its common shares traded in USA under the symbol AZZTF are now Depository Trust Company. It will increase the visibility and accessibility of the Aztec common shares for current and potential shareholders in USA (Cervantes project, Sonora).
  • Gold Resource Corporation announced its 2022 annual meeting of shareholders (Don David Gold Mine, Oaxaca).
  • Guanajuato Silver Company Ltd., announced the appointment of Ramón Dávila to the position of President (Cubo and Pinguico projects, Guanajuato).
  • Magna Gold Corp., entered into an amending agreement with Peal de México on the acquisition of the San Francisco mine, Sonora. Magna amended the agreement to settle outstanding amounts owing in exchange for the issuance of common shares of the company with a value of USD $1M, which reduced the company´s amount owing by USD $1M from USD $4,054,351 to USD $3,054,351.
  • Tarachi Gold Corp., announced the appointment of its VP of Operation, and signed a new land and water rights agreement with the local Magistral Ejido Community. “The Land Lease Agreement is for a 30-year term, granting Tarachi and its Mexican subsidiary’s use of 63.9 hectares of land for mining, processing, and tailings disposal purposes. The Company will pay to the Ejido an amount of MXP $5K (approximately USD $250) per month to maintain the right to retrieve water from within the Ejido’s territory and use of the Ejido’s water related infrastructure. The company and the Ejido have also amended their existing exclusive agreement to purchase mine and process certain tailings materials belonging to the Ejido. The amendment will result in an increase of USD $0.25 per tonne in the purchase fee paid by the Company for Ejido tailings material when gold prices are above USD $1475/Oz, compared to the previous agreement terms.
  • Bear Creek Mining Corporation provided an update on the acquisition of the Mercedes mine in Sonora. The completion of the acquisition remains subject to anti-trust approval which the company expects to receive in April 2022. On March 24, 2022, the company and Equinox Gold agreed to extend the outside date for the completion of the Acquisition to April 30, 2022. “The Company has become aware that on March 23, 2022, TRR Offtakes LLC (“Trident”) – a subsidiary of Trident Royalties Plc which in January 2022 acquired a non-material offtake agreement with subsidiaries of Equinox Gold – brought an application for an order of an arbitrator restraining and enjoining the closing of the Acquisition (the “Application”). Bear Creek believes the Application is without merit. The Company intends to hold Trident fully responsible for all loss and damage Bear Creek may suffer as a consequence of Trident’s interfering conduct”.

ON SOCIAL RESPONSIBILITY

  • No relevant news.

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, sheeted quartz veins in an intermediate sulphidation epithermal vein system in Chihuahua, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the First Week of March, 2022

By Jorge Cirett

During the 9th week of the year (February 28th to March 06th, 2022), at least 26 press releases were announced by companies working in Mexico. To note, nine companies posted exploration advances on their properties, one released Q4 and full year 2021 reports, one has started to receive a royalty from mining, three announced the opening or closing of private placements, six reported on drilling results or resource estimations and three on deals and corporate issues. ON MEXICO ISSUES, the governor of Zacatecas is fostering the relationship with the Zacatecas Mining Cluster. ON EXPLORATION, in Sonora, Heliostar Metals informed on drilling at Cumaro; Aztec Minerals released RC drilling results at Cervantes; Minaurum Gold presented drilling results from Alamos Silver; Silver Spruce initiated exploration at Diamante; In Chihuahua, Golden Minerals reported results from the last seven holes at Yoquivo. In Estado de Mexico, Xali Gold defined drill targets at El Oro. In Nayarit, Sierra Madre Gold and Silver mobilized a second rig to its Tepic project. In Guerrero, Pantera Silver completed a drilling campaign at Nuevo Taxco. ON MINING, Argonaut Gold presented 2021 production figures for El Castillo-San Agustin and La Colorada. Maverix Metals commenced to receive NSR payments from the Camino Rojo mine. ON FINANCING, Golden Tag, Osisko Development and Zacatecas Silver opened or closed tranches of financing for $1.46 M (Total $3.25 M), $84.8 M and $15 M respectively. ON RESOURCES AND DEVELOPMENT, Torex Gold updated the mineral resource estimate at Media Luna in Guerrero. Osisko Development announced 2021 drilling results from Sapuchi and Golfo de Oro, at its San Antonio project in Sonora. Vizsla Silver presented, then retracted and corrected the maiden resource estimate for Panuco, in Sinaloa. Great Panther Mining updated the mineral resource estimate for San Ignacio and the Guanajuato Mine Complex in Guanajuato. Sonoro Gold reported RC drilling results on its Cerro Caliche project in Sonora.  ON DEALS AND CORPORATE ISSUES, Zacatecas Silver is acquiring from Alamos Gold the Esperanza gold deposit in Morelos. Tocvan Ventures updated on exploration activities in Pilar and Picacho, in Sonora. Capstone Mining merge with Mantos Copper Bermuda has been approved in British Columbia. ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • David Monreal, Zacatecas governor, offered the Zacatecas mining cluster a reinforcing relationship between the state government and the mining industry, for the development of local value chains.

ON EXPLORATION

  • Heliostar Metals Ltd. announced drill intercepts from its Cumaro project in Sonora. Highlighted core-length intervals from the Verde target comprise 1.10 m @ 1.12 gpt Au, 44 gpt Ag; 1.15 m @ 1.48 gpt Au, 29 gpt Ag; 7.0 m @ 0.47 gpt Au, 6 gpt Ag (including 1.50 m @ 1.20 gpt Au, 11 gpt Ag); 2.20 m @ 0.58 gpt Au, 20 gpt Ag; 8.10 m @ 0.71 gpt Au, 14 gpt Ag (including 3.00 m @ 1.42 gpt Au, 17 gpt Ag; 8.30 m @ 0.47 gpt Au, 1 gpt Ag (including 2.00 m @ 1.11 gpt Au, 1 gpt Ag). Assays are pending for five holes on the Verde target, and six holes at the Dos Amigos and Palmita vein corridors. “Drilling is ongoing on targets in the eastern half of the Cumaro property”.
  • Pantera Silver Corp. completed the first stage of exploration drilling at the Nuevo Taxco project, in Guerrero. A total of 692 m were drilled in six holes targeting two of the 21 veins known in the property. Three holes were drilled on each of La Negrilla and El Creston de Maria veins, targeting 100 m along strike and 40 m below La Negrilla mine workings in the first vein, and, disseminated sulfides vein and veinlets on the second one; two previously unknown structures were also intercepted on El Creston de Maria drilling. Results are pending.
  • Aztec Minerals Corp. released results from reverse circulation drilling at its Cervantes project in Sonora. Highlighted hole-length intervals comprise 88.1 m @ 1.1 gpt Au (including 54.88 m @ 1.56 gpt Au and 15.24 m @ 3.96 gpt Au); 108.2 m @ 0.37 gpt Au; 45.7 m @ 0.45 gpt Au; 167.2 m @ 1.00 gpt Au (including 24.4 m @ 4.25 gpt Au); 136.8 m @ 1.49 gpt Au (including 51.68 m @ 3.42 gpt Au); 100.32 m @ 0.75 gpt Au; 12.2 m @ 0.92 gpt Au; 7.6 m @ 0.68 gpt Au; 63.84 m @ 0.42 gpt Au. “The primary focus of the Phase 2 RC drill program at Cervantes is to expand the previously drilled California zone by completing two drill hole fences parallel to and on either side of the 2017-18” previous face.
  • Minaurum Gold Inc. presented drilling results from the final phase II holes drilled in 2021 at its Alamos Silver project in Sonora.  At Minas Nuevas highlighted core-length intervals comprise 9.90 m @ 609 gpt Ag, 0.18% Cu, 0.3% Pb, 0.5% Zn (including 0.90 m @ 1,145 gpt Ag, 0.12% Cu, 1.2% Pb, 2.5% Zn), and 21.70 m @ 93 gpt Ag, 0.1% Cu, 0.2% Pb, 0.2% Zn (including 4.85 m @ 159 gpt Ag, 0.22% Cu, 0.4% Pb, 0.4% Zn); 7.35 m @ 184 gpt Ag, 0.22% Cu, 0.2% Pb, 0.3% Zn (including 4.05 m @ 289 gpt Ag, 0.38% Cu, 0.3% Pb, 0.4% Zn) at San José, and 2.95 m @ 232 gpt Ag, 0.16% Cu, 0.3% Pb, 1.1% Zn; 0.95 m @ 763 gpt Ag, 0.25 gpt Au, 2.14% Cu, 0.2% Pb, 0.2% Zn; 0.45 m @ 399 gpt Ag, 0.53% Cu, 0.9% Pb, 1.7% Zn. “In 2021, Minaurum drilled 9,386.50 m in 22 holes focusing on sizable step-outs at the Ana, Europa, San José, Alessandra, Cotera, and Minas Nuevas vein zones”.  
  • Silver Spruce Resources Inc. initiated geological mapping on the main drilling targets of the Diamante project in Sonora. “Geological features of epithermal low to intermediate sulphidation Ag-Au (Pb-Zn), high sulphidation Au-Cu, and potential porphyry style Au-Cu occur as disseminated, stockwork and vein styles accompanied by phyllic, argillic, advanced argillic and propylitic zones, with nearsurface overprinting by weathering with iron oxide and oxyhydroxide staining, jarosite and relict vuggy silica”.
  • Xali Gold Corp. finalized locations for drill pads at El Oro project in Estado de Mexico. “New drill targets have been identified by using a 3D Leapfrog model and drillholes have been designed to test potential extensions to high-grade gold and silver zones intersected by previous drilling … The project covers 20 veins with past production and more than 57 veins in total, from which approximately 6.4 million ounces of gold and 74 million ounces of silver were reported to have been produced from just two of these veins”.
  • Golden Minerals Co. reported results from the final seven holes of the 21-holes campaign at the Yoquivo project in Chihuahua. Highlighted true width intervals comprise 1.4 m @ 7.14 gpt Au, 2,058 gpt Ag (including 0.5 m @ 19.50 gpt Au, 5,844 gpt Ag); 0.5 m @ 0.59 gpt Au, 89 gpt Ag; 1.2 m @ 1.26 gpt Au, 169 gpt Ag (including 0.10 m @ 10.20 gpt Au, 1,319 gpt Ag); 1.8 m @ 0.60 gpt Au, 64 gpt Ag; 1.1 m @ 0.26 gpt Au, 149 gpt Ag; 0.2 m @ 1.90 gpt Au, 148 gpt Ag. An environmental report has been submitted to carry out a 10,000 m drill program.
  • Mammoth Resources Corp. provided results from three holes drilled at its Tenoriba project in Chihuahua. Highlighted core length intervals comprise 16.5 m @ 0.27 gpt Au, 5 gpt Ag; 22.5 m @ 0.22 gpt Au, 3 gpt Ag; 18.0 m @ 1.21 gpt Au, 1 gpt Ag; 22.5 m @ 0.57 gpt Au, 1 gpt Ag; 13.5 m @ 0.30 gpt Au, 6 gpt Ag; 7.5 m @ 0.22 gpt Au, 1 gpt Ag. “In all holes the mineralization appears to be controlled by irregular sulphide enriched fractures-veinlets with minor quartz and/or alteration clay minerals typical to High Sulphidation mineral systems”.
  • Sierra Madre Gold and Silver Ltd. announced that a second drill rig has been mobilized to its Tepic project in Nayarit. “This second rig is smaller and more portable than the first while maintaining the depth capacity and large core diameter that the Company requires. The decision to mobilize a second rig is a result of the success of the trenching program which has identified several additional drill targets and the superior assay turnaround time at the current laboratory”.

ON MINING

  • Argonaut Gold Inc. presented its Q4 and full-year 2021 report, including figures from its Mexican operations. During the year, at El Castillo-San Agustin in Durango, 37.24 M tonnes were moved, of which 20.16 M tonnes were of ore grading 0.29 gpt Au, producing 116,263 Oz Au, 570.7 K Oz Ag produced at cash cost $991 per Oz AuEq. At La Colorada, in Sonora, 16.22 M tonnes were moved, of which 4.83 M tonnes were ore grading 0.63 gpt Au, producing 64,860 Oz Au, 178.8 K Oz Ag at cash cost $730 per Oz Au. Production guidance for 2022 is 38-45 K Oz Au at El Castillo, 62-70 K Oz Au at San Agustin and 48-55 K Oz Au at La Colorada at cash cost $1,100 to $1,190 per Oz Au.
  • Maverix Metals Inc. informed its expectations on attributable gold equivalent ounces from royalties in diverse projects it has a stake on, including figures from one project in Mexico. Orla Mining’s Camino Rojo mine in Zacatecas has already poured its first gold and declaration of commercial production is expected to be made during the first quarter 2022. Maverix has a 2% NSR on Camino Rojo production.

ON FINANCING

  • Golden Tag Resources Ltd. completed the second and second tranche of the previously announced non-brokered private placement, for aggregate proceeds of $1.46 M, which coupled with the proceeds of the first tranche amount to $3.25 M. The company paid $7 K and issued 28 K finder’s warrants in connection with the last tranche (San Diego, Durango).
  • Osisko Development Corp. closed the first tranche of its previously announced non-brokered private placement, for gross proceeds of US$84.8 M. No commission or finder’s fee will be paid by Osisko (San Antonio, Sonora).
  • Zacatecas Silver Corp. is to complete a brokered private placement for total proceeds of up to $15 M. “Zacatecas Silver intends to use the net proceeds of the offering for the acquisition, exploration and development of the Esperanza Gold Project, exploration of the Zacatecas Properties and for general working capital purposes”.

ON RESOURCES AND DEVELOPMENT

  • Torex Gold Resources Inc. updated the resource estimate on the Media Luna project in Guerrero. Indicated resources stand at 25.4 M tonnes grading 3.24 gpt Au, 32.5 gpt Ag, 1.08% Cu, containing 2.64 M Oz Au, 25.7 M Oz Ag, 602 M Lb Cu (or 4.39 M Oz AuEq), and inferred resources of 6.0 M tonnes @ 2.47 gpt Au, 20.8 gpt Ag, 0.81% Cu, containing 0.48 M Oz Au, 4.0 M Oz Ag, 106 M Lb Cu (or 0.78 M Oz AuEq). Not included in these resources are the 8.0 M tonnes @ 1.52 gpt Au, 34.6 gpt Ag, 1.27 % Cu, containing 0.39 M Oz Au, 8.9 M Oz Ag, 225 M Lb Cu (or 1.02 M Oz AuEq) of inferred resources the EPO mineralization zone, located north of the Media Luna deposit and south of the Balsas River. Exploration infill and step-out holes have been budgeted at $19 M for around 64,000 m of drilling.
  • Osisko Development Corp. announced the final drilling results from the 2021 exploration and category conversion drilling at its San Antonio project in Sonora. A total of 27,900 meters were drilled in 177 holes in 2021, with this news release covering 6,550 m in 33 holes at Golfo de Oro and 8,050 m at Sapuchi. Some of the highlighted core-length intervals comprise 19.5 m @ 0.81 gpt Au; 1.5 m @ 9.59 gpt Au; 21.2 m @ 2.47 gpt Au, 19 gpt Ag (including 1.5 m @ 18.00 gpt Au); 35.65 m @ 0.86 gpt Au; 31.25 m @ 1.45 gpt Au; 42.50 m @ 1.55 gpt Au at Golfo de Oro, and  5.30 m @ 3.58 gpt Au; 14.80 m @ 1.37 gpt Au; 26.65 m @ 0.93 gpt Au; 8.80 m @ 2.49 gpt Au; 40.8 m @ 1.00 gpt Au, 14 gpt Ag; 60.45 m @ 1.06 gpt Au; 22.95 m @ 1.07 gpt Au; 25.45 m @ 1.60 gpt Au; 10.50 m @ 2.39 gpt Au; 78.90 m @ 2.19 gpt Au (Including 3.20 m @ 21.30 gpt Au); 2.35 m @ 8.28 gpt Au; 18.30 m @ 1.41 gpt Au; 20.25 m @ 1.19 gpt Au; 17.90 m @ 1.75 gpt Au; 16.95 m @ 1.22 gpt Au; 13.80 m @ 1.31 gpt Au; 15.95 m @ 1.46 gpt Au; 18.60 m @ 1.18 gpt Au at Sapuchi. Most intervals run also 1 to 5 gpt Ag. “… gold mineralization is characterized by hydrothermal breccia that forms an approximately 3,000 m long east-northeast trending mineralization corridor with the Luz del Cobre copper deposit at the east. The gold mineralization is associated with intense chlorite and carbonate alteration and is intrusion related with host rock”.
  • Vizsla Silver Corp. presented the maiden resource estimate for its Panuco project in Sinaloa. Indicated mineral resources stand at 6.9 M tonnes grading 150 gpt Ag, 1.64 gpt Au, 0.27% Pb, 0.53% Zn (or 370 gpt AgEq), containing 33.2 M Oz Ag, 362.6 K Oz Au, 18 K tonnes Pb, 36 K tonnes Zn (81.6 M Oz AgEq). Inferred mineral resources stand at 5.3 M tonnes grading 156 gpt Ag, 1.51 gpt Au, 0.16% Pb, 0.35% Zn (or 334 gpt AgEq), containing 26.6 M Oz Ag, 256.6 K Oz Au, 8.5 K tonnes Pb, 18.8 K tonnes Zn (56.9 M Oz AgEq). A total of 124,915 m of drilling in 445 holes completed from 2019 to 2021 were utilized to calculate the resource estimate.
  • Vizsla Silver Corp. retracted the maiden resource estimate released on Feb 28, 2022 (see above) on its Panuco project in Sinaloa. “An internal review of the estimate identified a miscalculation made by an independent consultant in the conversion of lead and zinc grades into the silver equivalent calculation. This in-turn lifted lower grade zones above the economic cut-off, adding tonnes to the resource but lowering the overall grade”. The next restatement corrects this. Indicated mineral resources are estimated at 5.0 M tonnes @ 191 gpt Ag, 2.08 gpt Au, 0.26% Pb, 0.50% Zn, containing 30.5 M Oz Ag, 331.1 K Oz Au, 13 K tonnes Pb, 24.6 K tonnes Zn. Inferred resources are estimated at 4.1 M tonnes @ 187 gpt Ag, 1.79 gpt Au, 0.13% Pb, 0.30% Zn, containing 24.7 M Oz Ag, 235.8 K Oz Au.
  • Great Panther Mining Ltd. reported the filing of the technical report on updated mineral resourcesof the Guanajuato Mine Complex and San Ignacio operations in Guanajuato.
  • Sonoro Gold Corp. reported the results of the first 24 holes of its current 10,000 m reverse circulation drilling campaign at its Cerro Caliche project in Sonora. The goal of the program is to increase the size and grade of the oxide gold mineralization. The highlighted hole length intervals comprise 9.14 m @ 1.04 gpt Au; 22.86 m @ 1.55 gpt Au (Including 6 m @ 5.18 gpt Au); 3.05 m @ 19.56 gpt Au (including 1.53 m @ 37.90 gpt Au); 4.57 m @ 2.43 gpt Au; 27.43 m @ 5.36 gpt Au (including 4.57 m @ 7.16 gpt Au, and 4.57 m @ 22.09 gpt Au), 4.57 m @ 2.18 gpt Au.

ON DEALS AND CORPORATE ISSUES

  • Zacatecas Silver Corp. entered into a share purchase agreement on February 28, 2022 with Alamos Gold Inc. to acquire the Esperanza project in Morelos (previously known as Cerro Jumil). Esperanza is an advanced project with a measured and indicated resource of 34.35 M tonnes grading 0.98 gpt Au, 8.1 gpt Ag, containing 1,084,000 Oz Au, 8.93 M Oz Ag and inferred resources of 718 K tonnes @ 0.80 gpt Au, 15 gpt Ag, containing 18,000 Oz Au, 347 K Oz Ag. The project has 69,716 m of drilling in 389 holes. Zacatecas Silver is to pay Alamos Gold US$5 M and issue shares for US$10 M, a payment of US$5 M within two months of approval of an environmental impact assessment (MIA, in Spanish), further US$14 M within two months of either completion of a feasibility study (FS) or the announcement on decision of mine construction, and the payment of US$20 M within 6 months of commencement of commercial production. Also a $500 K finder’s fee is to be paid on closing of the transaction. “Alamos is entitled to receive 20% of the silver produced from Esperanza at a cash price of 20% of the prevailing spot silver price, subject to a maximum of 500,000 ounces of silver delivered to Alamos”.
  • Tocvan Ventures Corp. provided an update on its activities. At Pilar, in Sonora, the current phase III diamond drilling is in progress, with 1,200 m completed, results pending. Bulk samples for advanced metallurgy are at the lab, while the company moves towards a maiden resource estimate and bulk test mine. At Picacho, also in Sonora, exploration is commencing.
  • Capstone Mining Corp. announced the Supreme Court of British Columbia approved Capstone and Mantos Copper Bermuda Ltd. to proceed with their merge. Capstone owns the Cozamin mine in Zacatecas, the Pinto Valley mine in Arizona and the Santo Domingo project in Chile. Mantos Blancos owns the Mantos Blancos and Mantoverde (69.99%) mines in Chile.

ON SOCIAL RESPONSIBILITY

  • No Relevant News.

On the image below: Barite-quartz-hematite vein from a project in the Sonoran desert. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of February, 2022. 

Quartz Vein

By Miguel A Heredia

During the 8th week of the year (February 21st to February 27th, 2022), at least 24 press releases were announced by companies working in Mexico, and 6 news published by the media, with eight reporting resources and developments of their properties, six disclosing deals and corporate issues, four informing on exploration results, three discussing social issues, three communicating production results, three announcing financial issues, and three commenting on Mexican issues.  ON MEXICO ISSUES, Magna Gold announced that after several inspections at its San Francisco mine in Sonora, the suspension of the crushing and laboratory areas has been lifted. Mexico was the largest silver producer country in 2021. Marisol Barragán swore in as President of the Mexico City District of Mujeres WIM Mexico.  ON EXPLORATION, In Sonora, Aztec-Kootenay JV released results from the ongoing RC drilling program conducted at the Cervantes project, and Ranchero Gold released the final results from its recently completed phase 1 drill program at its Maíz Azul prospect within its Santa Daniela project.  In Chihuahua, Radius announced results from its ongoing drill program at its Amalia project. In Nayarit, Sierra Madre informed that it received the drilling permit from the Mexican Federal Environmental Permitting Agency (SEMARNAT) and entered into formal surface rights exploration agreement with the surface owners for its La Tigra project.  ON MINING, Americas Gold and Silver provided silver production guidance for 2022 for its Cosala Operations in Sinaloa. Orla provided a 2022 production, operating costs, capital costs, and exploration spending guidance for the full year 2022 for its Camino Rojo property, Zacatecas. Equinox Gold reported Q4 and full year 2021 production and financial results from their Mexican operations. ON FINANCING, Golden Tag increased its previously announced non-brokered private placement by up to 5M unit for aggregate proceeds of up to 1.25M (San Diego project, Durango). Pan American Silver declared dividend to shareholders of $0.12 per common share (La Colorada mine, Zacatecas). Gold Resource declared Q1, 2022 dividend to shareholders (Arista mine, Oaxaca). ON RESOURCES AND DEVELOPMENT, Silver Dollar announced that it completed a 2,424 m drill program in 11 holes at its La Joya project in Durango. Silver Tiger informed that it will commence the rehabilitation of the historic El Tigre mine. Alamos Gold updated mineral reserves and resources as of December 31, 2021 (Mulatos Mine, Sonora). Pan American Silver released results for 20 new infill and exploration holes drilled at its la Colorada mine in Zacatecas. Prime Mining announced results from its first drill program at the Guadalupe West deposit within its Los Reyes project in Sinaloa. Stroud commenced its phase 2 diamond drilling program at its Santo Domingo project in Jalisco. Mithril reported positive results from the metallurgical testwork conducted at its Copalquin project in Durango. Newmont reported mineral reserves and resources for their Peñasquito and Noche Buena properties in Zacatecas.  ON DEALS AND CORPORATE ISSUES, Benjamin Hill granted options to directors, officers and a consultant (Sonora Gold project, Sonora). Monumental announced the appointment of its CEO (Jemi project, Coahuila). Orla Mining announced the appointment of its Chief Sustainability Officer (Camino Rojo, Zacatecas). SSR informed that it has entered into a definitive agreement to sell its Pitarrilla silver project in Durango to Endeavour. Riverside signed an agreement with Agnico Eagle for the sale of the Pima property located in Sonora. Sierra Metals announced the appointment of a new member to its Board of Directors (Bolivar mine, Chihuahua). Great Panther announced senior management changes (Topia mine, Durango). ON SOCIAL RESPONSIBILITY, Esperanza Silver supported the first generation of the education program in Morelos. Grupo México offered employment to 100 women in Santa Bárbara, Chihuahua. Minera Peñasquito delivered the remodeling and rehabilitation of a plaza to the community of Nuevo Peñasco, Mazapil in Zacatecas.

ON MEXICO ISSUE

  • Magna Gold Corp., announced that after several inspections at its San Francisco mine in Sonora, the suspension of the crushing and laboratory areas has been lifted.
  • Mexico was the largest silver producer country in 2021 with 5,600 tonnes, followed by China with 3,400 tonnes and by Peru with 3,000 tonnes.
  • Marisol Barragán swore in as President of the Mexico City District of Mujeres WIM Mexico, with the primary purpose of boosting initiatives that promote equal opportunities and working conditions for women in the mining industry in Mexico,

ON EXPLORATION

  • Aztec Minerals Corp – Kootenay Silver Inc JV released results from the ongoing RC drilling program conducted at the Cervantes project. Drilling highlights include hole CAL22-004 with 1 g/t Au over 167.2m, including 4.25 g/t Au over 24.4m; hole CAL22-002 with 0.37 g/t Au over 99.1m; and hole CAL22-003 with 0.45 g/t Au over 45.7m, including 0.87 g/t Au over 13.7m. Gold appears to be widely distributed in disseminations, fractures and veinlets within quartz-feldspars porphyry, feldspar porphyry stocks, and related hydrothermal breccias.
  • Ranchero Gold Corp., released the final results from its recently completed phase 1 drill program at its Maíz Azul prospect within its Santa Daniela project in Sonora. The drill program consisted of 3,122m in 16 holes. Hole MA22-25 intersected 1.2 g/t Au over 15.6m at the La Colmena target. The company will update its geological mapping to further identify new structures that control mineralization. It also will plan the phase II drill program with the goal of expanding the newly discovered gold mineralization as well as testing additional targets including the X-structure. 
  • Radius Gold Inc., announced results from its ongoing drill program at El Cuervo area within its Amalia project in Chihuahua. Drill highlights include hole AMDD21-47 with 167 g/t Ag and 0.54 g/t Au over 96m, including 232 g/t Ag and 0.65 g/t Au over 61.20m, including 290 g/t Ag and 0.8 g/t Au over 45.20m, including 302 g/t Ag and 1.13 g/t Au over 17.35m, including 592 g/t Ag and 0.65 g/t Au over 7.35m, including 438 g/t Ag and 1.12 g/t Au over 7.85m; and hole AMDD21-46 with 44 g/t Ag and 0.13 g/t Au over 31m, including 158 g/t Ag and 0.49 g/t Au over 3.7m, including 233 g/t Ag and 0.31 g/t Au over 1.7m, and 203 g/t Ag and 0.53 g/t Au over 3.50m, including 381 g/t Ag and 1.31 g/t Au over 1.1m.  “The initial drilling at El Cuervo has confirmed a significant mineralized system and drilling is ongoing to define the size potential”.
  • Sierra Madre Gold and Silver Ltd., informed that it received the drilling permit from the Mexican Federal Environmental Permitting Agency (SEMARNAT) authorizing the use of 30 drill pads within its La Tigra project in Nayarit. The company also informed that it entered into formal surface rights exploration agreement with the ejido Santa Maria Picachos, the surface owners at La Tigra project that allows for the commencement of the drilling program.

ON MINING

  • Americas Gold and Silver Corporation provided silver production guidance for 2022 for its Cosala Operations in Sinaloa. Silver production from the Cosala Operations in 2022 is forecast to be between 0.7 to 0.9M Oz Ag, 13-15M Lb Pb, and 36 to 40M Lb Zn. “
  • Orla Mining Ltd., provided a 2022 production, operating costs, capital costs, and exploration spending guidance for the full year 2022 for its Camino Rojo property, Zacatecas. The company expects to produce from Camino Rojo over 90-100K Oz Au for the full year 2022 with an AISC of USD $600-700 per Oz Au sold. Total sustaining cost and exploration spending are expected to total USD $5M and USD $10M respectively.
  • Equinox Gold Corporation reported Q4 and full year 2021 production and financial results from their Los Filos and Mercedes mines located in Guerrero and Sonora respectively. At Los Filos mine, Guerrero, Equinox mined 3.4M tonnes of 0.77 g/t Au (open pit) and 162K tonnes of 3.11 g/t Au (underground) to produce 54.7K Oz Au. It sold 55,144 Oz Au during Q4, 2021 and reported revenue of USD $98.8M, and cash and AISC of USD $1,311 and USD $1,433 per Oz Au sold respectively. For the full year, the company mined 7.09M tonnes of 0.71 g/t Au (open pit) and 519K tonnes of 3.23 g/t Au to produce 144.1K Oz Au. It sold 143.8K Oz Au during the full year 2021, and reported revenue of USD $257.2M, and cash and AISC of USD $1,575 and USD $1,753 per Oz Au sold. Equinox provided production and guidance cost for 2022. It expects to produce between 160-180KOz Au at cash and AISC of USD $1400-1600 and USD $1,625-1,700 per Oz Au sold respectively. At Mercedes mine, Sonora, the company mined 125K tonnes and processed 161K tonnes of 2.30 g/t Au during Q4, 2021 to produce 11,35K Oz Au. It sold 10.3K Oz Au and reported revenue of USD $18.9M and cash and AISC of USD $1,091 and USD $1,584 respectively. For the full year, the company mined 348K tonnes and processed 398K tonnes of 2.59 g/t Au to produce 31.8K Oz Au, It sold 30.9K Oz Au, and reported revenue of USD $56.9M , and cash and AISC of USD $966 and USD $1,357 per Oz Au respectively. On Dec 16, 2021, Equinox entered into an agreement to sell Mercedes mine to Bear Creek.

ON FINANCING

  • Golden Tag Resources Ltd., increased its previously announced non-brokered private placement by up to 5M unit for aggregate proceeds of up to $1.25M. The company plans to use the gross proceeds to fund advancement of its San Diego project in Durango.
  • Pan American Silver Corp., declared dividend of $0.12 per common share under new dividend policy. The cash dividend of $0.12 per common share, or approximately $25.3M in aggregate cash dividends, is payable on or about March 21, 2022 (La Colorada mine, Zacatecas).
  • Gold Resource Corporation declared its quarterly dividend of $0.01 per common share for Q1, 2022 to shareholders (Arista mine, Oaxaca).

ON RESOURCES AND DEVELOPMENT

  • Silver Dollar Resources Inc., announced that it completed a 2,424 m drill program in 11 holes on the Noria portion at its La Joya project in Durango. Aim of the drill program was target development and testing for possible structural extensions of known mineralized zones identified in historical drilling. Assays are pending and drilling is on standby until the company receives assay results and gets an interpretation.
  • Silver Tiger Metals Inc., informed that it has contracted Cominvi, an underground mine contractor, to commence the rehabilitation of the historic El Tigre mine. “Initial rehabilitation will begin on the Level 7 main entry to the Historic El Tigre Mine to allow access to the Sooy Vein, El Tigre Vein and the Seitz Kelly Vein in contemplation of underground channel sampling, drilling and bulk sampling on those veins and the black shale horizon”.
  • Alamos Gold Inc., updated mineral reserves and resources as of December 31, 2021. The company increased its mineral reserves at Mulatos mine 14% to 1.5M Oz Au (29.4M tonnes of 1.64 g/t Au) with a 32% increase in grades reflecting the addition of higher-grade underground mineral reserves at Puerto del Aire, which is adjacent to the main Mulatos pit. The company reported proven + probable reserves for 29.36M tonnes of 1.64 g/t Au for a total of 1.54M Oz Au contained. It also reported Measured + Indicated resources for 8.2M tonnes of 1.34 g/t Au for a total of 353K Oz Au and Inferred resources for 1.72M tonnes of 1.06 g/t Au for a total of 59K Oz Au contained. The remaining mineral reserve mine of life of the Mulatos district is approximately six years as of December 31, 2021 (excluding the underground mineral reserves of Puerto del Aire Deposit.
  • Pan American Silver Corp., released results for 20 new infill and exploration holes drilled at its la Colorada mine in Zacatecas. Drill highlights include hole U-83-21 with 64 g/t Ag, 0.06% Cu, 1.9% Pb, and 3.8% Zn over 322.85m, including 178 g/t Ag, 0.06% Cu, 4.3% Pb, and 6.3% Zn over 64.90m; hole S-73-21 with 76 g/t Ag, 0.36% Cu, 4.2% Pb, and 9.5% Zn over 78.55m, including 91 g/t Ag, 0.46% Cu, 5.2% Pb, and 11.4% Zn over 58.1m; hole D-73-01-21 with 79 g/t Ag, 0.29% Cu, 2.2% Pb, and 5.7% Zn over 159 m, including 112 g/t Ag, 0.45% Cu, 3.2% Pb, and 8.1% Zn over 99.2m; hole D-71-01-21 with 48 g/t Ag, 0.05% Cu, 3% Pb, and 5.8% Zn over 44.65m, including 100 g/t Ag, 0.28% Cu, 7.3% Pb, and 7.1% Zn over 15.95m; hole D71-03-21 with 60 g/t Ag, 0.09% Cu, 2.1% Pb, and 3.2% Zn over 22.1m, and 42 g/t Ag, 0.07% Cu, 1.2% Pb, and 3.9% Zn over 55.60m, and 91 g/t Ag, 0.2% Cu, 4.8% Pb, and 8% Zn over 191.85m; and hole D-21-02-21 with 59 g/t Ag, 0.2% Cu, 1.2% Pb, and 3.8% Zn over 219.90m, including 51 g/t Ag, 0.2% Cu, 2% Pb, and 6.1% Zn over 91.3m.
  • Prime Mining Corp., announced results from its first drill program at the Guadalupe West deposit within its Los Reyes project in Sinaloa. Twelve new holes, of which seven were diamond holes and 5 were RC holes are reported and drill highlights include hole 21GW-12R with 1.68 g/t Au and 26 g/t Ag over a true width (TW) of 19.8m; hole 21GW-07 with 1.6 g/t Au and 50 g/t Ag over a TW of 8.6m, and 1.92 g/t Au and 34 g/t Ag over a TW of 17.7m; hole 21GW-02 with 1.82 g/t Au and 52 g/t Ag over 4.8m, and 0.53 g/t Au and 15 g/t Ag over a TW of 27.6m; hole 21GW-01 with 1.08 g/t Au and 38 g/t Ag over a TW of 3.6m; and hole 21GW-11R with 0.9 g/t Au and 63 g/t Ag over a TW of 4.3m.
  • Stroud Resources Ltd., commenced its phase 2 diamond drilling program, which will consist of 3,500m targeting the newly discovered Zopilotes Vein, the Guadalupe Vein, and the La Raya Vein, within its Santo Domingo project in Jalisco. “The company’s current drilling permit covers 13 drill pads (drill setups) located across the property. A second drilling permit will be submitted seeking additional drill pad locations to facilitate further delineation of the three known mineralized vein systems and other exploration targets”. 
  • Mithril Resources Ltd., reported positive results from the metallurgical testwork conducted at its Copalquin project in Durango. The company reported that the final overall recoveries after leaching of the flotation products were 96.5% for gold and 96.1% for silver.
  • Newmont Corporation reported mineral reserves and resources for their Peñasquito and Noche Buena properties in Zacatecas as of December 31, 2021. At Peñasquito, Zacatecas, Newmont reported Proven Reserves of 115M tonnes of 0.61 g/t Au, 38 g/t Ag, 0.9% Zn, and 0.4% Pb for a total of 2.25M Oz Au, 141.5M Oz Ag, 2.38 B Lb Zn, and 940M Lb Pb and Probable Reserves of 247M tonnes of 0.51 g/t Au, 32 g/t Ag, 0.7% Zn, and 0.3% Pb for a total of 4.08M Oz Au, 252.4M Oz Ag, 3.87 B Lb Zn, and 1.64 B Lb Pb. Proven + Probable Reserves are 362M tonnes of 0.54 g/t Au, 34 g/t Ag, 0.8% Zn, and 0.3% Pb for a total of 6.33M Oz Au, 393.9M Oz Ag, 6.25 B Lb Zn, and 2.58 B Lb Pb. Measured Resources are 31.4M tonnes of 0.27 g/t Au, 26 g/t Ag, 0.7% Zn, and 0.3% Pb for a total of 280K Oz Au, 26M Oz Ag, 460M Lb Zn, and 200M Lb Pb, and Indicated Resources of 176.6M tonnes of 0.27 g/t Au, 26 g/t Ag, 0.6% Zn, and 0.3% Pb for a total of 1.5M Oz Au, 149.6M Oz Ag, 2.2 B Lb Zn, and 1.02 B Lb Pb. Measured + Indicated Resources are  208M tonnes of 0.27g/t Au, 26 g/t Ag, 0.6%Zn, and 0.3% Pb for a total of 1.78M Oz Au, 175.6M Oz Ag, 2.69 B Lb Zn, and 1.23 B Lb Pb. Inferred Resources are 89.8M tonnes of 89.8M tonnes of 0.4 g/t Au, 28 g/t Ag, 0.5% Zn, and 0.2% Pb for a total of 1.16M Oz Au, 80.84M Oz Ag, 1.07 B Lb Zn, and 480M Lb Pb. At Noche Buena, Zacatecas (50% attributable to Newmont), it reported Indicated Resources of 21M tonnes of 0.37 g/t Au and 14 g/t Ag for a total of 250K Oz Au and 9.4M Oz Ag, and Inferred Resources of 1.6M tonnes of 1.07 g/t Au and 11 g/t Ag for a total of 230K Oz Au and 570K Oz Ag. Resources are reported exclusive of Reserves.

ON DEALS AND CORPORATE ISSUES

  • Benjamin Hill Mining Corp., granted 1.4.M options exercisable at $0.44 per common share of which 980K options granted to directors/officers shall have a term of 5 years, and 500K options granted to a consultant shall have a term of 2 years (Sonora Gold project, Sonora).
  • Monumental Minerals Corp., announced the appointment of its CEO (Jemi project, Coahuila).
  • Orla Mining Ltd., announced the appointment of its Chief Sustainability Officer, effective march 1, 2022 (Camino Rojo, Zacatecas).
  • SSR Mining Inc., informed that it has entered into a definitive agreement to sell its Pitarrilla silver project in Durango to Endeavour Silver Corp., for a total consideration of up to USD $127M. This consideration includes USD $35M in cash, USD $35M in Endeavour shares, and a 1.25% Net Smelter Return (“NSR”) royalty on the Pitarrilla property.
  • Riverside Resources Inc., signed an agreement with Agnico Eagle for the sale of the Pima property located in Sonora. Riverside will receive cash and completes the pass through royalty transfer with Millrock Resources Inc. 
  • Sierra Metals Inc., announced the appointment of a new member to its Board of Directors (Bolivar mine, Chihuahua).
  • Great Panther Mining Limited informed about the resignation of its President and CEO and announced the appointment of his replacement on an interim basis (Topia mine, Durango).

ON SOCIAL RESPONSIBILITY

  • Esperanza Silver, supported the first generation of 14 people between women and men who accredited the upper secondary level as a results of an alliance in favor of the education integrated for inhabitants of the community of San Agustin Tetlama and Esperanza Silver.
  • Grupo México offered employment to 100 women in Santa Bárbara, Chihuahua. Andrés Torres, general secretary of the Section 11 Miners’ Union reported that by 2022 there is a goal of employing a hundred women in the different areas of the companies.
  • Minera Peñasquito (Newmont) delivered the inhabitants of the community of Nuevo Peñasco, belonging to Ejido Cedros, in Mazapil, the remodeling and rehabilitation of their plaza, as part of Newmont Peñasquito’s commitment to creating shared value in the communities in its area of influence. Additionally, the company provided 27 trees of different species, the same that were planted throughout the square.

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, a quartz vein from a low sulphidation epithermal vein project in Chihuahua, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico; Highlights on the Third Week of February, 2022

By Jorge Cirett

During the 7th week of the year (February 14th to February 20th, 2022), at least 28 press releases were announced by companies working in Mexico. To note, seven companies posted exploration advances on their properties, three released quarterly reports, and one informed on a fatal accident on its facilities. One company is conducting a private placement and one more has commenced to receive royalties. Eleven companies posted on expansion/infill drilling on their properties and/or metallurgical testing, one company sold a large property, one is about to proceed with a merge and one more informed on a Supreme Court decision that is to put its mining concessions on peril. ON MEXICO ISSUES, The Santa Barbara mine in Chihuahua has seen its employee work force augment considerably as result of the outsourcing ban. The Supreme Court ruled Almaden Minerals mining concessions in Puebla are to be subject to an indigenous communities consultation process. In Guerrero, the creation of a state’s mining promotion organism was proposed. Work was halted by authorities at the San Francisco mine in Sonora after an accident resulting in the death of three employees. Grupo Mexico blasted the participation in Congress of senator Napoleón Gómez Urrutia.  ON EXPLORATION, in Sonora, Tarachi Gold is to explore La Texana; Tocvan Ventures informed on drilling at Pilar; Mexus Gold updated on its Scorpio property; Aztec Minerals released assay results from RC drilling at Cervantes. In Chihuahua, Monarca Minerals presented stream sediment results from its San José project. In Coahuila, Monumental Minerals completed an airborne magnetic and radiometric survey at Jemy. In Nayarit, Sierra Madre Gold and Silver released trenching results from La Tigra. ON MINING, Argonaut Gold, Capstone Mining, and Starcore International presented quarterly and/or yearly reports. Magna Gold reported a fatal accident involving three of its employees at the San Francisco mine in Sonora. ON FINANCING, Tarachi Gold announced a non-brokered private placement for USC$4 M. Orogen Royalties has begun to receive NSR from the Ermitaño deposit mining in Sonora. ON RESOURCES AND DEVELOPMENT, Southern Silver Exploration reported high-grade extensions at Cerro Las Minitas, Durango. Golden Tag Resources released drill results from San Diego, in Durango. Chesapeake Gold presented drilling results from Metates, in Durango. Capitan Mining reported drill results from Jesus María, at the Peñoles project in Durango. Golden Minerals reported results from drilling at Yoquivo, Chihuahua. Guanajuato Silver provided results from drilling at El Cubo. Zacatecas Silver reported drilling results from the Panuco vein in Zacatecas. GR Silver Mining reported drilling results from the Trampolín and Corta Pico veins at the Plomosas project in Sinaloa. Prime Mining released results from drilling at Los Reyes, in Sinaloa. Vizsla Silver reported results from metallurgical tests on ore from the Napoleon resource at Panuco, in Sinaloa.  ON DEALS AND CORPORATE ISSUES, Sun Summit Minerals sold three large properties to Green Earth Metals. Capstone Mining is to vote on the combination with Mantos Copper. Almaden Minerals informed on the decision reached by the Supreme Court of Justice of Mexico respect of a mineral lawsuit involving the company’s mining concessions. ON SOCIAL RESPONSIBILITY, Grupo Mexico, Industrias Peñoles, Fresnillo PLC, Minera Palmarejo and SilverCrest informed on social and environmental actions taken to conduct to a better society.

ON MEXICO ISSUES

  • The mining company at Santa Barbara, Chihuahua has increased its employee force from 750 to 1,120 as result of last year’s outsourcing reform.
  • The Mexican Supreme Court suspended mining claims on northern Puebla. The ruling affects claims owned by Minera Gorrion (Alamaden Minerals subsidiary), that now will be subject to a consultation process on indigenous communities. (Note.- This is to have profound implications for the Mexican mining industry, because there is not a legal framework to carry out these exercises, and the lack of formal criteria to define an indigenous community and its reaches).
  • In Guerrero was proposed the creation of a Dirección General de Minería, to promote mining in the state.
  • Grupo Mexico blasted the Congress speech of senator Napoleón Gómez Urrutia. The company’s press release stated the senator repeatedly lied on the Pasta de Conchos tragedy and on non-existent worker strikes, emphasizing the fact that he has not delivered the US$55 M payment to workers entitled to receive it, same that he kept on his coffers to sustain an extravagant lifestyle.
  • Work was halted on Magna Gold’s San Franciso mine in Sonora, after the field review by members of the state’s Dirección de Inspección y Vigilancia de Protección Civil, on the death of three of its employees in a tragic accident.  

ON EXPLORATION

  • Tarachi Gold Corp. announced plans for exploration at its 300 hectares La Texana property, in Sonora. “The fieldwork will entail detailed geological and structural mapping and rock sampling of the entire concession……”. The goal is to find mineralization like that encountered in nearby high sulfidation, porphyry gold targets and structurally controlled polymetallic deposits.
  • Sierra Madre Gold and Silver Ltd. released results from trenching at its La Tigra project in Nayarit. Highlighted intervals comprise 4.9 m @ 0.46 gpt Au; 11.0 m @ 1.03 gpt Au; 2.0 m @ 4.13 gpt Au; 12.0 m @ 2.85 gpt Au; 4.5 m @ 6.94 gpt Au. Access has been gained to the 100 and 200 levels of the historic El Tigre mine.
  • Tocvan Ventures Corp. informed a second drill rig has been mobilized to its Pilar project in Sonora. A twin diamond hole, still to be assayed, displays “a heavily oxidized and fractured mineralized breccia” in the interval mirroring 9.2 m @ 10.8 gpt Au, 38 gpt Ag of the past RC hole. “Mineralization appears to be primarily hosted in an intensely silicified breccia with pyrite and in select areas copper sulphides (chalcopyrite and cuprite)”.
  • Mexus Gold US. presented an update on its 9,173 acress Scorpio project in Sonora. Mineralization is “interpreted as a major 2 kilometer long gold and base metal structure. Trenching and surface sampling assays have been extremely promising and suggests a follow up drilling program. The company will seek to joint venture this property with an exploration company”.
  • Aztec Minerals Corp. released assay results from the first hole of the phase 2 reverse circulation drilling campaign at Cervantes, in Sonora. The highlighted interval of the hole in the California target comprises 88.41 m @ 1.1 gpt Au (including 54.9 m @ 1.56 gpt Au). “mineralization appears to be widely distributed in disseminations, fractures and veinlets within a quartz-feldspar porphyry stock and related hydrothermal breccias……. The area currently being drilled measures approximately 800 metres long by 300 metres wide, with demonstrated, continuous mineralization of up to 170 metres depth. The porphyry gold-copper mineralization is still open in all directions”.
  • Monarca Minerals Inc. announced results from stream sediment pan concentrate sampling at its San José project in Chihuahua. “Numerous drainages show anomalous values of Au, As, Cu, Pb and Zn. Drainages with anomalous values extend approximately 8 km from near the northern limit of the concessions to the southern limit of the concessions”.
  • Monumental Minerals Corp. completed the airborne magnetic and radiometric geophysical survey over its Jemy project in Coahuila. “A total of approximately 1,121 line-km was completed over 13 survey days” on the heavy rare earth element project (Terbium, Dysprosium, Neodymium, Praseodymium). 

ON MINING

  • Argonaut Gold Inc. presented its Q4 and full-year 2021 report, including figures from its Mexican operations. The company’s consolidated production in Mexico was 47,625 Oz AuEq during the Q4, and 189,941 Oz AuEq for the full year 2021. Selected drilling results from La Colorada in Sonora comprises true width intervals of 5.8 m @ 1.5 gpt Au, 29 gpt Ag; 5.7 m @ 4.1 gpt Au, 12 gpt Ag; 26.1 m @ 5.2 gpt Au, 12 gpt Ag (including 7.3 m @ 16.8 gpt Au, 29 gpt Ag); 28.9 m @ 2.0 gpt Au, 14 gpt Ag; 33.2 m @ 2.5 gpt Au, 7 gpt Ag; 11.0 m @ 1.0 gpt Au, 3 gpt Ag; 52.5 m @ 2.3 gpt Au, 17 gpt Ag; 16.9 m @ 1.3 gpt Au, 18 gpt Ag.
  • Capstone Mining Corp. announced production and financial result for the Q4 and full year 2021, including figures on its Mexican operations. At Cozamin in Zacatecas, processing ore at a rate of 3,724 tonnes per day (tpd) produced 14.5 M Lb Cu during the quarter, adding up to 187.1 M Lb Cu in the year, at cash cost $1.81 per Lb Cu produced. Cash and cash equivalents added up to $264.4 M by the end of the year.
  • Magna Gold Corp. reported a fatal accident involving three employees at is San Francisco mine in Sonora. “Three mine employees were in the fine ore storage area when a cave-in occurred…….. The cause of the cave-in is unclear at this time and an investigation will be conducted to determine the cause of the accident”.
  • Starcore International Mines Ltd. released results for the quarter ended January 31, 2022. At the San Martin mine in Queretaro. During the quarter 56.7 K tonnes were milled @ 1.46 gpt Au, 21.1 gpt Ag, recovering 88.1% Au, 45.8% Ag, to produce 2,588 Oz AuEq.

ON FINANCING

  • Tarachi Gold Corp. announced a non-brokered private placement financing aimed to raise up to C$4 M. Ausenco Engineering Inc. committed to subscribe a total participation of C$1.98 M (Magistral Mill and Tailings, Durango).
  • Orogen Royalties Inc. received the first quarterly royalty payment of US$480 K from initial production at the Ermitaño deposit in Sonora. “Orogen organically generated a 2% net smelter return (“NSR”) royalty on the sale of the Ermitaño project to First Majestic Silver Corp.”. A total of 103.7 K tonnes @5.28 gpt Au, 49 gpt Ag were processed.

ON RESOURCES AND DEVELOPMENT

  • Southern Silver Exploration Corp. reported extensions of high-grade Ag-polymetallic  mineralization at the North Felsite Target on the Cerro Las Minitas project, in Durango. Highlighted true width intervals comprise 11.8 m @ 185 gpt Ag, 0.2 gpt Au, 2.8% Pb, 1.0% Zn (including 3.0 m @ 354 gpt Ag, 0.7 gpt Au, 6.1% Pb, 2.6% Zn); 3.7 m @ 174 gpt Ag, 0.5 gpt Au, 1.5% Pb, 0.9% Zn; 5.7 m @ 234 gpt Ag, 0.3% Cu, 1.1% Pb, 2.0% Zn (including 3.2 m @ 379 gpt Ag, 0.5% Cu, 1.7% Pb, 2.6% Zn). These holes extend the mineralization projection 400 m below the surface and 250 m along strike.
  • Golden Tag Resources Ltd. released results from three diamond holes targeting bulk-tonnage mineralization at the San Diego project in Durango. Highlighted core-length intervals comprise 1.22 m @ 517 gpt Ag, 0.2 gpt Au, 8.5% Pb, 14.0% Zn; 1.00 m @ 751 gpt Ag, 0.12 gpt Au, 0.7% Pb, 1.3% Zn; 2.10 m @ 296 gpt Ag, 0.27 gpt Au, 0.8% Pb, 1.0% Zn; 11.00 m @ 51 gpt Ag, 0.26 gpt Au, 1.0% Pb, 1.0% Zn; 240.30 m @ 32 gpt Ag, 0.04 gpt Au, 0.5% Pb, 0.7% Zn, or 83 gpt AgEq (including 111.98 m @ 40 gpt Ag, 0.05 gpt Au, 0.8% Pb, 0.9% Zn).
  • Mexus Gold US. informed its Santa Elena property in Sonora is in testing capacity with an open pit and leaching gold recovery system. “Mexus is negotiating with a major mining/exploration company to joint venture or complete an exploration option to buy deal”. The Mabel property, also in Sonora comprises 4,832 acres has over 600 holes with estimated 45 K Oz Au, 500 K Oz Ag (Not 43-101 compliant) “Mexus reached an agreement with Irmex mining company, a Mexican corporation”.
  • Chesapeake Gold Corp. presented results from five PQ size diamond drill holes as part of the infill program at its Metates project in Durango. The infill drill holes target the intrusive hosted mineralization and are spaced at 50-meter intervals. “The assay intervals which intersected intrusive mineralization were on average 9.4% higher in Au-Ag equivalent grade than estimated in the current resource block model”. Highlighted true width intervals comprise 282 m @ 1.02 gpt Au, 24 gpt Ag; 291 m @ 0.56 gpt Au, 11 gpt Ag; 399 m @ 0.99 gpt Au, 28 gpt Ag; 207 m @ 1.13 gpt Au, 12 gpt Ag; 297 m @ 1.19 gpt Au, 10 gpt Ag.
  • Capitan Mining Inc. reported results from phase I drill program at Jesus Maria, within the Peñoles project in Durango. Highlighted core-length intervals comprise 42.7 m @ 154 gpt Ag, 0.37 gpt Au, 0.5% Pb, 0.7% Zn (including 1.5 m @ 1,044 gpt Ag, 1.03 gpt Au, 0.8% Pb, 0.7% Zn and 1.5 m @ 1,271 gpt Ag, 0.53 gpt Au, 0.5% Pb, 0.6% Zn); 9.1 m @ 8 gpt Ag, 0.23 gpt Au, 0.1% Zn; 4.6 m @ 23 gpt Ag, 0.22 gpt Au; 7.6 m @ 15 gpt Ag, 0.62 gpt Au; 6.1 m @ 37 gpt Ag, 0.27 gpt Au, 0.6% Pb, 1.4% Zn; 7.6 m @ 29 gpt Ag, 0.09 gpt Au, 1.0% Pb, 1.5% Zn; 3.0 m @ 77 gpt Ag, 0.17 gpt Au, 0.7% Pb, 1.8% Zn.
  • Golden Minerals Co. reported further results from diamond drilling the Pertenencia, Dolar, Esperanza and Dolar Dos veins at the Yoquivo project in Chihuahua. Highlighted true width (tw) intervals from nine holes comprise 5.1 m @ 17.19 gpt Au, 2,403 gpt Ag (including 1.6 m @ 50.40 gpt Au, 6,990 gpt Ag); 0.6 m @ 3.40 gpt Au, 13 gpt Ag; 1.1 m @ 1.80 gpt Au, 3 gpt Ag; 1.0 m @ 3.90 gpt Au, 328 gpt Ag. Results for the last seven holes are being awaited.
  • Guanajuato Silver Company Ltd. provided drilling results from ongoing drilling at El Cubo, in Guanajuato. Highlighted true-width intercepts comprise 6.35 m @ 0.69 gpt Au, 65 gpt Ag (120 gpt AgEq); 3.26 m @ 0.41 gpt Au, 77 gpt Ag (110 gpt AgEq); 7.02 m @ 0.41 gpt Au, 60 gpt Ag (92 gpt AgEq); 2.07 m @ 0.34 gpt Au, 64 gpt Ag (91 gpt AgEq); 2.51 m @ 0.43 gpt Au, 53 gpt Ag (88 gpt AgEq). El Cubo results remain consistent with projections and the Asuncion vein has returned “notable” results.
  • Zacatecas Silver Corp. reported drilling results from the Panuco Norte vein in Zacatecas. Highlighted core-length intervals comprise 6.87 m @ 145 gpt Ag, 0.2 gpt Au (160 gpt AgEq); 4.13 m @ 165 gpt Ag, 0.15 gpt Au (175 gpt AgEq); 1.23 m @ 723 gpt Ag, 0.36 gpt Au (750 gpt AgEq); 1.47 m @ 199 gpt Ag, 0.11 gpt Au (207 gpt AgEq). Drilling has intercepted near-surface mineralization for 500 m, remaining open along strike and at depth. There are several holes pending results.
  • GR Silver Mining Ltd. reported exploration results of the Trampolín and Corta Pico vein systems at its Plomosas project in Sinaloa. Selected drilling intervals from the Trampolín vein with apparent widths comprise 12.0 m @ 0.64 gpt Au (including 3.3 m @ 1.77 gtp Au and 0.8 m @ 3.38 gpt Au); 7.2 m @ 0.44 gpt Au (including 2.6 m @ 0.99 gpt Au), plus 0.1% to 0.9% combined Pb-Zn. Apparent width channel sample results from the Trampolín and
    Corta Pico veins comprise 4.5 m @ 2.50 gpt Au, 57 gpt Ag (including 2.0 m @ 4.45 gpt Au, 112 gpt Ag); 4.1 m @ 1.35 gpt Au, 6 gpt Ag (including 0.40 m @ 9.70 gpt Au, 44 gpt Ag). The Trampolín “vein is composed of a quartz-cemented crackle breccia with small amounts of galena and pyrite, hosted within an andesitic ignimbrite”.
  • Prime Mining Corp. announced drill results from 17 holes at Los Reyes project in Sinaloa. The holes targeted the northern extension of the Zapote-Tahonitas structure, adding 450 m to the structure, for a total length of 3 km. Highlighted true-width intervals comprise 34.7 m @ 4.89 gpt Au, 22 gpt Ag (including 2.9 m @ 23.13 gpt Au, 61 gpt Ag; 1.5 m @ 41.5 gpt Au, 40 gpt Ag); 12.8 m @ 1.34 gpt Au, 24 gpt Ag (including 1.9 m @ 3.22 gpt Au, 36 gpt Ag); 1.5 m @ 3.06 gpt Au, 30 gpt Ag; 7.4 m @ 1.29 gpt Au, 26 gpt Ag (including  0.5 m @ 4.93 gpt Au, 42 gpt Ag); 12.0 m @ 1.00 gpt Au, 6 gpt Ag. The structure consists of quartz veins, stringer zones and quartz breccias, including greenish colored quartz, that range from 5 to more than 35 m in width, averaging 15 to 20 m.
  • Vizsla Silver Corp. reported metallurgical test results for the Napoleon resource area at its Panuco project in Sinaloa. A total of 330 Kg of ore from six holes were tested by direct cyanidation leach, bulk sulfide flotation, sequential flotation and gravity concentration. Bulk flotation yielded recoveries of up to 93% Ag, 90% Au, 94% Pb, 94% Zn. Sequential flotation yielded Pb and Zn concentrates with recoveries of up to 88% Ag, 88% Au, 96% Pb, 96% Zn. Direct cyanide leach tests yielded recoveries of up to 87% Ag, 93% Au after 48 hours. Gravity separation testing recovered 29% Ag, 40% Au.

ON DEALS AND CORPORATE ISSUES

  • Sun Summit Minerals Corp. sold its property and royalty interests on 92,488 hectares in Mexico to Green Earth Metals Inc. for 5 M shares and warrants for further 2 M shares. “The key properties which we sold are primarily porphyry copper targets, one of which is drill ready” (Espiritu, 1068 and Angeles, in Sonora).
  • Capstone Mining Corp. informed that both institutional Shareholder Services (ISS) and Glass Lewis & Co. have recommended that shareholders vote for the proposed business combination with Mantos Copper Ltd. at the upcoming Special Meeting (Cozamin, Zacatecas).
  • Almaden Minerals Ltd. informed on the decision reached by the Supreme Court of Justice of Mexico respect of the mineral lawsuit involving the company’s mining concessions. “In April 2019, a lower court in Puebla issued a decision that Mexico’s mining law is unconstitutional because it fails to include provisions requiring consultation of indigenous communities before the granting of a mineral title. The lawsuit uses the Company’s mineral claims to make the argument”. Currently there is only a draft of the decision that instructs the Economy Secretariat to declare Almaden claims ineffective and re-issue them after a consultation with indigenous communities. Almaden is to review the final decision when it becomes available before determining the next steps to take.

ON SOCIAL RESPONSIBILITY

  • Grupo Mexico informed on its promotion of environment care, tree planting and on work training at communities near its operations in Tlaxcala, Baja California Sur and Chihuahua.
  • Industrias Peñoles and Fresnillo PLC let know on the strategies the companies have take on green energy, like the installation of eolic parks and the use of excess energy from a smelter to produce electricity.
  • Minera Palmarejo is offering the free service of its medical clinic to communities near its operations in Chihuahua.
  • La Llamarada, SilverCrest subsidiary, inaugurated the Tetuachi bridge, built by the company, on the Sonora River.

On the image below: Quartz-barite-specularite vein from a project in the Sonoran Desert. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Second Week of January, 2022. 

Secondary copper staining

By Miguel A Heredia

During the 2nd week of the year (January 10th to January 16th, 2022), at least 27 press releases were announced by companies working in Mexico, and 4 news published by the media, with eleven reporting resources and developments of their properties, six communicating production results, six informing on exploration results, four disclosing deals and corporate issues, three commenting on Mexican issues, and one discussing social issues.  ON MEXICO ISSUES, Jaime Gutiérrez Núñez, President of the Mexican Mining Chamber (CAMIMEX) stated that political risk causes a reduction in the mining investment in Mexico. Alfonso Durazo, governor of Sonora State declared that the Mining Fund program will be back in the state after it was frozen for a little more than three years. ON EXPLORATION, In Sonora, Reyna Gold reported surface and trench sampling results from its La Gloria project, Colibri announced it has purchased a RC drilling rig to reduce drilling expenses, and Heliostar informed that its 5,000m drill program at its Cumaro project has recommenced after the Christmas break. In Chihuahua, Mammoth added additional drill contractor to its ongoing drill program at its Tenoriba project. Radius Gold and Riverside provided a review of 2021 and an update of their Mexican properties.  ON MINING, Americas Gold and Silver reported December 2021 production results from its Cosalá operation in Sinaloa. Torex announced production results from its El Limon-Guajes mine in Guerrero for the full year 2021. Endeavour reported Q4 and full year 2021 production results from their Mexican mine operations. Golden Minerals reported Q4 and full year 2021 production results from its Rodeo project, Durango. Equinox announced Q4, 2021 production from their Mexican operations and provided production guidance for the year 2022. Gatos Silver reported Q4 and full year 2021 production results from its Cerro Los Gatos mine, Chihuahua. ON FINANCING, no relevant news. ON RESOURCES AND DEVELOPMENT, Silver Tiger released results from its ongoing drilling program at its El Tigre project, Sonora. Prime announced results from 13 new holes drilled at the Noche Buena deposit within its Los Reyes property in Sinaloa. Avino provided results from its Phase 2 drilling program conducted at its Avino property in Durango. Capitan Mining reported results from six RC holes collared at its Peñoles project in Durango. Excellon released results from its underground drilling program conducted at the Platosa property in Durango.  Fabled released results from its ongoing drilling program at its Santa Maria project, Chihuahua. Zacatecas Silver received permits for 13 new drill pads and applied for permits on additional 27 drill pads at its Panuco deposit in Zacatecas.  Silver Dollar announced that exploration drilling has recommenced at its La Joya project, Durango. Oroco Resource reported results from eight drill holes collared at its Santo Tomas project in Sinaloa. Osisko released drill results on its San Antonio project in Sonora. GoGold release results from 13 drill holes collared at its Los Ricos North project, Jalisco. ON DEALS AND CORPORATE ISSUES, Ranchero Gold announced the appointment of its President effective immediately (Santa Daniela project, Sonora). Starcore announced the appointment of its new President and Director (San Martin mine, Queretaro). Capitan Mining entered into a purchase agreement to acquire a portfolio of royalties including a 2% royalty on the Capitan Gold oxide deposit in Durango. Endeavour entered into a definitive agreement to acquire the Pitarrilla project in Durango State from SSR Mining. ON SOCIAL RESPONSIBILITY, Compañia Minera Cuzcatlán (Fortuna Silver) along with local municipal authorities delivered toys to more than 20,000 girls and boys from Oaxaca.

ON MEXICO ISSUE

  • Jaime Gutiérrez Núñez, President of the Mexican Mining Chamber (CAMIMEX) stated that political risk causes a reduction in the mining investment in Mexico.  The lack of legal certainty and a complex environment for obtaining licenses and concessions are holding back investment in the Mexico’s mining sector, despite the rise in metal prices. Actual spending was USD $4.25B, 15.6% below the original estimates, according to CAMIMEX. The figure is lower than the USD $4.67B in 2019 and is well below the high of USD $8.42B in 2012.  Due to the lack of mining concessions, investment opportunities of USD $25B are lost in the country. Currently, there are 29 applications detained in the Secretary of the Environment and Natural Resources (SEMARNAT) and 34 at the National Water Commission (CONAGUA). With an adequate legal framework and adequate incentives, mining activity could generate 50 thousand additional direct jobs and more than MXP $25B a year in addition to those already paid by mining. “The statements of the President (against mining), not granting mining concessions, denying access to information, making procedures increasingly slow, although the terms are established in the law, and the lack of personnel in the Mining Directorate General  have impeded the advancement of mining projects in the country”.
  • Alfonso Durazo, governor of Sonora State, declared that the Mining Fund program could be back in the state after it was frozen for a little more than three years by the Federal government. If the Mining Fund is back, the injection of resources into the entity in this 2022 will be greater than MXP $1,000M, same that will benefit the mining towns and incidentally will give a good respite to state public finances.

ON EXPLORATION

  • Reyna Gold Corp., reported surface and trench sampling results from its La Gloria project. To date, 1,252 sample results have been received from the Main Zone area where drilling will commence this coming February. A total of 555 samples out of 713 returned greater than 0.1 g/t Au, including 23 with greater than 5 g/t Au at Big Pit area. High grade values were encountered at Big Pit and Pique Viejo areas including values of 93.9 g/t Au, 36.2 g/t Au, 46.1 g/t Au, 24.4 g/t Au, 20.1 g/t Au. Other areas such as Las Quintas, Las Quintas West, San Pedro, and Alamo Muerto returned values of 20.1 g/t Au, 15.9 g/t Au, 13.3 g/t Au, 11.1 g/t Au, 13.6 g/t Au, and 9.3 g/t Au. Reyna Gold has already the drill permits to commence a drilling program at Big Pit and Pique Viejo areas in February, 2022. Sampling and mapping will continue in other target areas of the property.
  • Colibri Resource Corporation announced it has purchased a RC drilling rig and peripheral equipment to reduce drilling expenses and advance its exploration work at their Mexican properties.
  • Heliostar Metals limited informed that its 5,000m drill program at its Cumaro project has recommenced after the Christmas break. Heliostar reported that four holes totalling 428m were completed in December 2021. Results are pending and will be released in late February.
  • Mammoth Resources Corp., added additional drill contractor to its ongoing drill program at its Tenoriba project. The company reported that 4 holes collared at the Central-Masuparia area were completed prior to the Christmas break. Samples were cut and submitted to the lab. Results are pending. Last December, 2021, Mammoth announced the granting of an additional permit to cover an additional 183 drill hole locations, expanding the total number of permitted drill hole locations to 321 over the entire approximately 6-km trend of surface gold-silver mineralization at Tenoriba property, Chihuahua.
  • Radius Gold Inc., provided a review of 2021 and an update of their Mexican properties. At Amalia project. Chihuahua, 45 drill holes totalling 14,402m have been completed of which 10,588m in 31 holes were drilled in the Amalia Vein System and 3,814m in 14 holes were drilled in the California Vein System. Drilling has re-commenced at El Cuervo target with 3,500m of core drilling expected in the coming months. There are still several targets remaining to drill test including Oro Viejo, La Caverna, California SE, El Pozo and Palmillas. At Maricela project, Sonora, the company mapped and sampled the Au-Ag Epithermal Vein system, extending 1.5km long by 300m wide, within which occurs multiple veins, stockworks, and breccias. 576 samples have been collected with highlights including intervals of 4.46 g/t Au and 1,335 g/t Ag over 3m at la Baby Gloria Vein;  1.03 g/t Au and 418 g/t Ag over 63 at Silver Central Vein; and 0.31 g/t Au and 62 g/t Ag over 25.3m at intersecting veins. At Plata Verde project, Chihuahua, Radius completed a geophysical survey. NP/Resistivity sections show significant structural zones extending to depth directly below the known large scale historic silver mines. Two priority targets for drilling have been generated. In addition, the company completed detail underground mapping and sampling of the historic Mina Real y Mina Mojonera. Radius is evaluating options to fund drilling later this year.
  • Riverside Resources inc., provided an outlook on the upcoming 2022 and informed on some of the achievements and milestones in 2021. Riverside plans to advance their exploration projects in Sonora. It plans to advance its La Union project in Sonora, where sampling results have returned up to  84 g/t Au and >1,500 g/t Ag in rock chip samples. On the exploration alliance with BHP, the company is progressing on 3 funded programs with spending of over USD $3M in the first 6 months of 2022, doing exploration on selected and defined projects, finalizing third party acquisitions, and advance work toward drilling. At Cecilia project, Sonora, along with its partner Carlyle, the objective is to complete further drilling which could define a possible mineralized body at depth around the Cerro Magallanes main dome. At Los Cuarentas project in Sonora, the plan is to advance it with further drilling and test the porphyry copper center. It also wants to complete further farm out option deals from the Riverside portfolio such as Suaqui Grande and Suaqui Verde projects in Sonora, among others. Finally, it plans to work with partners to test porphyry copper targets at its Ariel project, Sonora.

ON MINING

  • Americas Gold and Silver Corporation reported that it milled approximately 47K tonnes at a rate of 1,695 tonnes per operating day during, December 2021, with grades of 54 g/t Ag, 4% Zn, and 1.8% Pb to produce 46K Oz Ag, 3.2M Lb Zn, and 1.3M Lb Pb from its Cosalá operation in Sinaloa.
  • Torex Gold Resources inc., announced production results from its El Limon-Guajes mine in Guerrero for Q4 and the full year 2021. The company mined in Q4, 2021, an average of 1,030 tonnes per day from underground and 9,390 tonnes per day from open pit to produce 109,410 Oz Au. Torex mined an average of 1,260 tonnes per day from underground and 13,040 tonnes per day from open pit in the full year 2021 to produce 468,200 Oz Au. The company sold 468,820 Oz Au at an average realized price of USD $1,790/Oz Au, including 109,390 Oz Au at an average realized price of USD $1,795/Oz Au.
  • Endeavour Silver Corp., reported Q4 and full year 2021 production results from their Mexican mine operations. During the period Q4, 2021, the company processed from Guanacevi mine, Durango 108.3K tonnes of 1.21 g/t Au and 417 g/t Ag with metallurgical recoveries of 92.2% and 89.6% respectively to produce 3,885 Oz Au and 1.3M Oz Ag, and from Bolañitos mine, Guanajuato, 105.2K tonnes of 1.83 g/t Au and 48 g/t Ag with metallurgical recoveries of 88.9% and 87% respectively to produce 5,502 Oz Au and 141.2K Oz Ag. Endeavour also reported full year production results from their Mexican mines. It processed 414.3K tonnes from Guanacevi mine, Durango at grades of 1.09 g/t Au and 370 g/t Ag with metallurgical recoveries of 91.7% and 87.9% respectively to produce  13,317 Oz Au and 4.33M Oz Ag; from Bolañitos mine, Guanajuato itprocessed 418.5K tonnes of 2.02 g/t Au and 42 g/t Ag wit metallurgical recoveries of 90.7% and 87% respectively to produce 24,652 Oz Au and 491.4K Oz Ag; and from El Compas mine, Zacatecas it processed  54.5K tonnes of 3.05 g/t Au and 36 g/t Ag with metallurgical recoveries of 80.2% and 72.5% respectively to produce 4,293 Oz Au and 45.8K Oz Ag. Consolidated results for the period Q4, 2021 were 213.5K tonnes of 1.52 g/t Au and 235 g/t Ag with metallurgical recoveries of 90.8% and 89.4% respectively to produce 9,446 Oz Au and 1.44M Oz Ag, while for the full year 2021 were 887.4K tonnes of 1.65 g/t Au and 195 g/t Ag with metallurgical recoveries of 89.8% and 87.6% respectively to produce 42,262 Oz Au and 4.87M Oz Ag.
  • Golden Minerals Company reported Q4 and full year 2021 production results from its Rodeo project, Durango. In Q4, 2021, Golden mined 145,205 tonnes and processed 42,827 tonnes of 4.6 g/t Au and 14 g/t Ag with metallurgical recoveries of 76.5% and 82.6% respectively to produce 4,831 Oz Au and 15,250 Oz Ag (5,028 Oz AuEq). The company sold 5,164 Oz Au and 15,552 Oz Ag (5,366 Oz AuEq) at realized price, before refining and selling costs of USD $1,784 per Oz Au and USD $23.08 per Oz Ag. In the full year 2021, Golden mined 661,102 tonnes and processed 149,411 tonnes of 4.1 g/t Au and 12 g/t Ag with metallurgical recoveries of 74.9% and 89.9% respectively to produce 14,449 Oz Au and 51,058 Oz Ag (15,256 Oz AuEq). The company sold 13,732 Oz Au and 48,970 Oz Ag (14,454 Oz AuEq) at realized price, before refining and selling costs of USD $1,793 per Oz Au and USD $24.83 per Oz Ag.
  • Equinox Gold Corporation announced full year 2021 production from their Mexican operations and provided production guidance for the year 2022. At Los Filos mine, Guerrero, the company produced 144.1K Oz Au and expects to produce 120K-140K Oz Au in the year 2022. At Mercedes mine, Sonora, the company produced 31.8K Oz Au and expects to produce 30K-45K Oz Au in the year 2022.
  • Gatos Silver Inc., reported Q4 and full year 2021 production results from its Cerro Los Gatos mine, Chihuahua. In Q4, 2021 the company milled 241,397 tonnes of 331 g/t Ag, 0.3 g/t Au, 2.2% Pb, and 3.9% Zn with metallurgical recoveries of 90%, 63%, 91%, and 93% respectively, to produce 2.3M Oz Ag, 1,300 Oz Au, 10.2M Lb Pb, and 12.9M Lb Zn. In the full year 2021, Gatos Silver milled 909,586 tonnes of 295 g/t Ag, 0.32% Au, 2.3% Pb, and 3.9% Zn with metallurgical recoveries of 86%, 61%, 86%, and 73% respectively, to produce 7.6M Oz Ag, 5,200 Oz Au, 39.8M Lb Pb, and 49.6M Lb Zn.
  • Oroco Resource Corp., reported results from eight drill holes collared in the North Zone within its Santo Tomas project in Sinaloa. Significant drill intercepts were encountered in hole N001 with 0.18% Cu, 0.012% Mo, 0.02 g/t Au and 1 g/t Ag over 27m, plus 0.39% Cu, 0.01% Mo, 0.045 g/t Au and 2 g/t Ag over 255m, plus 0.17% Cu, 0.003% Mo, 0.008 g/t Au and 1 g/t Ag over 49m; hole N002 with 0.38% Cu, 0.012% Mo, 0.025 g/t Au and 23 g/t Ag over 281.1m; hole N003 with 0.31% Cu, 0.009% Mo, 0.014 g/t Au and 3g/t Ag over 11.8m, plus 0.33% Cu, 0.018% Mo, 0.017 g/t Au, and 1g/t Ag over 17.7m, plus 0.29% Cu, 0.025% Mo, 0.02 g/t Au and 3 g/t Ag over 25.5m, plus 0.5% Cu, 0.008% Mo, 0.026 g/t Au and 3 g/t Ag over 14.3m, plus 0.39% Cu, 0.014% Mo, 0.019 g/t Au and 3 g/t Ag over 207.7m, plus 0.18% Cu, 0.002% Mo, 0.007 g/t Au and 2 g/t Ag over 76.2m, hole N004 with 0.38% Cu, 0.012% Mo, 0.017 g/t Au and 2 g/t Ag over 63.7m; hole N006 with 0.39% Cu, 0.004% Mo, 0.051 g/t Au and 2 g/t Ag over 188.5m, plus 0.17% Cu, 0.005% Mo, 0.011 g/t Au and  1 g/t Ag over 53.7m, hole N007 with 0.32% Cu, 0.005% Mo, 0.029 g/t Au, and 3 g/t Ag over 191.3m, plus 0.32% Cu, 0.012% Mo, 0.018 g/t Au and 3 g/t Ag over 109.9m; and hole N008 with 0.38% Cu, 0.01% Mo, 0.038 g/t Au and 3 g/t Ag over 328.3m. “Drilling confirms that the North Zone is comprised of intensely fractured, potassic- and phyllic-altered andesite volcanics and Laramide-age porphyritic intrusive dikes. Elevated Mo, Au and Ag accompany copper assays along the central axis of the North Zone”.
  • Osisko Gold Royalties Inc., announced that a total of 27,000m were completed on exploration and infill drilling on the Sapuchi, California and Golfo de Oro deposits at its San Antonio project in Sonora. These three deposits comprise 900m of a 3km long Iron Oxide Copper Gold (IOCG) trend that ends at the past producing Luz del Cobre copper deposit. The highlights of the drilling campaign to date include 2.14 g/t Au over 21.65m, and 1.03 g/t Au over 39.9m to extend the known mineralization. Osisko also announced that the historic gold stockpile is being stacked onto a new heap leach pad with production commencing in early 2022 along with an updated resource estimation for the three deposits being drilled.

ON FINANCING

  • No relevant news.

ON RESOURCES AND DEVELOPMENT

  • Silver Tiger Metals Inc., released results from its ongoing drilling program at its El Tigre project, Sonora, including a high grade intercept in a structure located between the Tiger Vein and the Seitz Kelly Vein. Hole ET-21-274 encountered 0.84 g/t Au and  1 g/t Ag (65 g/t AgEq) over 15m, including 1.42 g/t Au and 1 g/t Ag (108 g/t AgEq) over 4.5m, plus 0.4 g/t Au, 8 g/t Ag, 0.02% Cu, 0.02% Pb, and 0.03% Zn (41 g/t AgEq) over 6.3m, including 0.71 g/t Au, 13 g/t Ag, 0.02% Cu, 0.03% Pb, and 0.1% Pb (73 g/t AgEq) over 1.5m on Seitz Kelly Vein; and hole ET-21-278 encountered in a new structure 3.99 g/t Au, 32 g/t Ag, 0.04% Cu, 0.09% Pb, and 0.17% Zn (343 g/t AgEq) over 16.1m, including 12.24 g/t Au, 84 g/t Ag, 0.11% Cu, 0.2% Pb, and 0.3% Zn (1,029 g/t AgEq) over 5.1m, including 102.1 g/t Au, 120 g/t Ag, 0.13% Cu, 0.2% Pb, and 0.4% Zn (7,808 g/t AgEq) over 0.6m, plus 0.01 g/t Au, 78 g/t Ag, 0.07% Cu, 0.06% Pb, and 0.02% Zn (88 g/t AgEq) over 0.9m, plus 0.04 g/t Au, 86 g/t Ag, 0.1% Cu, 0.1% Pb, and 0.2% Zn (108 g/t AgEq) over 1m on Seitz Kelley Vein.
  • Prime Mining Corp., announced results from 13 new holes drilled at the Noche Buena deposit within its Los Reyes property in Sinaloa. Highlights include hole 21NB-22 with 16 g/t Au and 74 g/t Ag over a true width (TW) of 2.7m, plus 0.91 g/t Au and 44 g/t Ag over a TW of 24.3m, including 3.49 g/t Au and 82 g/t Ag over a TW of 0.9m; hole 21NB-23 with 75 g/t Au and 110 g/t Ag over a TW of 3.8m, plus 1.89 g/t Au and 76 g/t Ag over a TW of 19.7m, including 4.83 g/t Au and 250 g/t Ag over a TW of 3m; hole 21NB-21 with 92 g/t Au and 24 g/t Ag over a TW of 12.8m, plus 1.09 g/t Au and 66 g/t Ag over a TW of 4.3m; and hole 21NB-17 with 1.27 g/t Au and 13 g/t Ag over a TW of 12m, including 38 g/t Au and 8 g/t Ag over a TW of 2.2m. These drilling results have extended the size of the Noche Buena deposit. “The Noche Buena portion of the Central Structure has now been tested and mineralization identified along approximately 600 m of its known 1,000 m strike length.  The structure remains open along strike and at depth both to the northwest and the southeast. Phase 2 drilling is planned to test extensions to the northwest towards San Miguel, where there is strong potential to join the two deposits, and to the southeast where the structure has been traced in surface mapping”.
  • Avino Silver & Gold Mines Ltd., provided results from its Phase 2 drilling program conducted at its Avino property in Durango. The company informed that over 15,500m were drilled in 2021 testing several targets including Brecha de Bajo Vein, where the company made the discovery of a new vein splay called Bart Vein which appears to be mineralized. Highlights results from Brecha de Bajo and Bart Veins include hole NBX-21-02 with 0.06 g/t Au, 151 g/t Ag, 0.37% Cu, 0.06% Pb, and 0.2% Zn (211 g/t AgEq) over 1.20m, plus 0.08 g/t Au, 21 g/t Ag, 0.55% Cu, and 0.2% Zn (103 g/t AgEq) over 7.8m, and plus 0.06 g/t Au, 48 g/t Ag, 0.76% Cu, and 00.3% Zn (159 g/t AgEq) over 0.65m; hole NBX-21-03 with 0.14 g/t Au, 84 g/t Ag, 0.32% Cu, and 0.2% Zn (147 g/t AgEq) over 1.5m, plus 0.27 g/t Au, 72 g/t Ag, 0.26% Cu, 0.3% Pb, and 0.1% Zn (141 g/t AgEq) over 15.4m, including 0.3 g/t Au, 380 g/t Ag, 1.19% Cu, 0.4% Pb, and 0.2% Zn (547 g/t AgEq) over 1.05m, plus 0.84 g/t Au, 44 g/t Ag, 0.21% Cu, and 0.2% Pb (151 g/t AgEq) over 32.2m, including 1.58 g/t Au, 120 g/t Ag, 0.11% Cu, and 0.1% Pb (267 g/t AgEq) over 1.95m.
  • Capitan Mining Inc., reported results from six RC holes collared at its Peñoles project in Durango. The most significant drill intercept was encountered in hole CARC 21-48 with 0.39 g/t Au and 3 g/t Ag (0.42 g/t AuEq)  over 35.1m, including 1.08 g/t Au and 2 g/t Ag (1.1 g/t AuEq) over 4.6m, including 0.7 g/t Au and 2 g/t Ag (0.72 g/t AuEq) over 4.6m. This drill result extends mineralization 170m down-dip from hole 21-CARC-25. Capitan Mining informed that assays for 11 drill holes are pending. The drilling program will be resumed in late January.
  • Excellon Resources Inc., released results from its underground drilling program conducted at the Platosa property in Durango. Follow-up drilling on the 817 Zone below Manto 623 defined a zone of high-grade silver mineralization. Highlights include hole EX21UG76 with 4,035 g/t Ag, 25.2% Pb, and 11.8% Zn (5,089 g/t AgEq) over 0.4m, plus 1,430 g/t Ag, 12% Pb, and 21.7% Zn (3,905 g/t AgEq) over 1.8m; hole EX21UG60 with 2,398 g/t Ag, 14.2% Pb, and 33.2% Zn (3,905 g/t AgEq) over 1.8m; hole EX21UG812 with 1,267 g/t Ag, 7.5% Pb, and 19% Zn (2,124 g/t AgEq) over 2.8m; hole EX21UG769 with 4,060 g/t Ag, 29.7% Pb, and 3.3% Zn (4,939 g/t AgEq) over 0.9m; and hole EX21UG770 with 2,956 g/t Ag, 6.1% Pb, and 1.3% Zn (3,158 g/t AgEq) over 1m. The company also informed that underground drilling will continue testing below historical-mined areas for potential vertical zones.
  • Fabled Silver Gold Corp., released results from its ongoing drilling program at its Santa Maria project, Chihuahua. Hole SM20-48 encountered 0.04 g/t Au, 58 g/t Ag, 0.2% Pb, and 0.2% Zn (60 g/t AgEq) over 1.5m, plus 0.4 g/t Au, 90 g/t Ag, 0.2% Pb, and 0.5% Zn (111 g/t AgEq) over 24.5m, including 0.49 g/t Au, 113 g/t Ag, 0.3% Pb, and 0.7% Zn (139 g/t AgEq) over 17.1m, including 0.6 g/t Au, 129 g/t Ag, 0.4% Pb, and 0.8% Zn (160 g/t AgEq) over 7.5m, including 0.83 g/t Au, 210 g/t Ag, 0.6% Pb, and 1.4% Zn (253 g/t AgEq) over 3m, including 1.25 g/t Au, 315 g/t Ag, 0.6% Pb, and 1.2% Zn (379 g/t AgEq) over 1.50m.
  • Zacatecas Silver Corp., received permits for 13 new drill pads and applied for permits on additional 27 drill pads at its Panuco deposit in Zacatecas. The Company is currently drilling shallow angled holes in the northeast of the Panuco North Vein to test the near surface down-dip extension of vein outcrops and shallow historical workings. It also expects to receive soon the approval of an application for permits to drill El Cristo vein system, which was submitted to SEMARNAT in December 2021.
  • Silver Dollar Resources Inc., announced that exploration drilling has recommenced at its La Joya project, Durango. The company completed 5 holes on the Noria portion of the property for a total of 1,134m before the Christmas break with the aim of testing possible structural extensions of known mineralized zones identified in historical drilling. Sample results from these holes will be reported once they are available.
  • GoGold Resources Inc., release results from 13 drill holes collared at Mololoa Area within its Los Ricos North project, Jalisco. Drilling highlights include hole LRGM-21-066 with 1.21 g/t Au and 242g/t Ag (4.44 g/t AuEq or 333 g/t AgEq) over 11.3m, including 5.2 g/t Au and 1,143 g/t Ag (20.44 g/t AuEq or 1,533 g/t AgEq) over 1.4m; hole LRGM-21-068 with 0.6 g/t Au and 155 g/t Ag (2.68 g/t AuEq or 201 g/t AgEq) over 12.9m, including 3.56 g/t Au and 872 g/t Ag (15.19 g/t AuEq or 1,139 g/t AgEq) over 0.7m; hole LRGM-21-077 with 1.51 g/t Au and 376 g/t Ag (6.52 g/t AuEq or 489 g/t AgEq) over 36.3m, including 6.94 g/t Au and 1,683 g/t Ag (29.78 g/t AuEq or 2,204 g/t AgEq) over 6.5m, including 21.8 g/t Au and 5,040 g/t Ag (89 g/t AuEq or 6,675 g/t AgEq) over 1m, plus 5.02 g/t Au and 1,385 g/t Ag (2,349 g/t AuEq or 1,762 g/t AgEq) over 1.6m; and hole LRGM-21-089 with 0.81 g/t Au and 151 g/t Ag (2.82 g/t AuEq or 212 g/t AgEq) over 24.1m, including 2.87 g/t Au and 426 g/t Ag (8.56 g/t AuEq or 641 g/t AgEq) over 4.2m, including 4.18 g/t Au and 748 g/t Ag (14.15 g/t AuEq or 1,061 g/t AgEq). The company is pleased with the drilling results on Mololoa Area and will continue its aggressive resource expansion drilling program at Los Ricos North deposit. GoGold also will commence drilling at the Cabrera zone, which is the newest target for Los Ricos North deposit.

ON DEALS AND CORPORATE ISSUES

  • Ranchero Gold Corp., announced the appointment of its President effective immediately (Santa Daniela project, Sonora).
  • Starcore International Mines Ltd., announced the appointment of its new President and Director. This appointment follows the resignation of Robert Eadie as President of the Company.   Mr. Eadie remains as Chairman, CEO and a director of the Company.  (San Martin mine, Queretaro).
  • Capitan Mining Inc., entered into a purchase agreement to acquire a portfolio of royalties including a 2% royalty on the Capitan Gold oxide deposit in Durango from Exploraciones Altiplano. Total purchase price of royalty portfolio is USD $1M over two years, payable in cash and shares. “Any shares issued to Altiplano are subject to right of first refusal (ROFR) allowing Capitan to market and place shares with investors if Altiplano elects to sell. This transaction with Altiplano in combination with Capitan’s contractual option to retire Riverside Resources 1% royalty for CAD $250K will leave the Peñoles project royalty free and will enhance overall project economics for investors.
  • Endeavour Silver Corp., entered into a definitive agreement to acquire the Pitarrilla project in Durango State from SSR Mining Inc., for total consideration of USD $70M and a 1.25% NSR. The USD $70M will consists of USD $35M in Endeavour shares and a further USD $35M in cash or in Endeavour shares at the election of SSR Mining. The number of Endeavour shares to be issued will be based on a deemed price of USD $4.085 per share.

ON SOCIAL RESPONSIBILITY

  • Compañia Minera Cuzcatlán (Fortuna Silver Mines Inc.), along with local municipal authorities from the Valles Centrales de Oaxaca and Cuenca de Papaloapan Regions delivered toys to more than 20,000 girls and boys from Oaxaca. The delivery of toys is an example of the coordinated work that Compañía Minera Cuzcatlán carries out permanently with different communities, as part of its commitment to generate shared development and well-being in Oaxaca.

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, secondary copper staining on an IOCG project in Sonora, Mexico.  Photo by Miguel A Heredia.

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

Scorodite in a quartz vein

By Miguel A Heredia

During the 50th week of the year (December 13th to December 19th, 2021), at least 30 press releases were announced by companies working in Mexico, and 1 news published by the media, with nine reporting resources and developments of their properties, eight disclosing deals and corporate issues, seven informing on exploration results, three communicating production and financial results, one announcing financial issues, and one commenting on Mexican issues.  ON MEXICO ISSUES, Great Panther announced that it has begun the closure process at its Guanajuato facility due to not having the respective permit to expand tailings storage in the Jolula Dam. ON EXPLORATION, In Sonora, Aztec Minerals and its JV partner Kootenay commenced a 5,000m RC drilling program at the Cervantes project, Barksdale announced the completion of the Phase I, 5,000m drilling program at the Cerro Verde Zone within its San Javier project, Canuc provided an update on the ongoing exploration program conducted at its San Javier project, and Tocvan commenced a 5,000-8,000m drilling program at its Pilar project. In Chihuahua, Kootenay released results from the last three holes collared at its Columba project, Monarca Minerals reported results from the last eight holes from its Phase 1 San Jose project exploration program, and Radius released drill results from the California target at its Amalia project.  ON MINING, Americas Gold and Silver announced that its Los Braceros plant has returned to nameplate production at its Cosala mine operation in Sinaloa. GoGold reported Q3, 2021 production and financial results from its Parral Tailings property in Chihuahua. Orla announced that three bars with a total weight of 1,278 Oz containing approximately 770 Oz Au and 510 Oz Ag were poured at its Camino Rojo property in Zacatecas.  ON FINANCING, Barksdale announced a non-brokered private placement of $1,750,000 secured convertible debentures (San Javier project, Sonora). ON RESOURCES AND DEVELOPMENT, Chesapeake provided an update of its Metates property in Durango, and announced technical plans for 2022. Endeavour released drill results from its Parral project, Chihuahua. Fabled released results from its ongoing drilling program at its Santa Maria project in Chihuahua. Impact announced the discovery of the New San Ramon Zone within its Zacualpan mining district in the Sate of Mexico, with high Au-Ag grades intersections. SilverCrest announced remaining results from its 2021 infill and expansion drilling program at its Las Chispas project in Sonora. Tarachi Gold announced positive results of the PEA conducted on its Magistral Mill and Tailing project in Durango. Torex reported results from the 2021 drilling program at its El Limon Guajes underground mine in Guerrero, including zones referred to as Sub-Sill and El Limon Deep. Vizsla released results from three new drill holes targeting the Napoleon Vein resource area at its Panuco project in Sinaloa. Zacatecas Silver reported Initial Inferred Mineral Resource Estimate for its Panuco deposit in Zacatecas.  ON DEALS AND CORPORATE ISSUES, Advance Lithium announced that its stock symbol changed from TSXV: AAX to TSXV: AALI (Tabasqueña project, Zacatecas). Bear Creek entered into a definite agreement with Equinox to acquire a 100% interest in the Mercedes mine in Sonora.  Consolidated Zinc entered into an offtake agreement with Metco Trading for the sale of 100% of the Plomosas lead concentrates produced from Plomosas for calendar year 2022. Defiance announced results from its annual and special general meeting of shareholders (San Acacio project, Zacatecas). Golden Minerals appointed a new member to its Board of Directors (Rodeo project, Durango). Mexican Gold announced favourable resolution of the claims dispute at its Las Minas project, Veracruz.   ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUE

  • Great Panther Mining Limited announced that it has begun the closure process at its Guanajuato facility. Great Panther issued a statement announcing the gradual closure of activities, due to not having the respective permit to expand tailings storage in the Jolula Dam, which is part of the mining complex. According to Great Panther, the permit was requested to the National Water Commission (CONAGUA) but so far it has not been authorized. For that reason the company cannot continue operating; but the operations will return, once they receive said authorization. The activities will continue solely for the care and maintenance of facilities. The mines that will be shut down are San Ignacio, the Guanajuato Complex and the Jolulaprocessing plant, located in the former Hacienda de Bustos, also known as ‘Cata’. Mine workers have expressed concern about the situation because when the activities stop in the mines in which they work they will lose their economic income. The precise data on how many employees will be affected by the situation is not yet available.

ON EXPLORATION

  • Aztec Minerals Corp., and its JV partner Kootenay Silver Inc., commenced a 5,000m RC drilling program to test four main targets at the Cervantes project in Sonora. “The primary objectives of the drilling program are to better define the near surface, oxide gold potential of the porphyry gold oxide cap at California, evaluate the potential for deeper copper-gold porphyry sulfide mineralization underlying the oxide cap, test for north and west extensions of the California mineralization at California North and Jasper, and assess the breccia potential of Purisima East”.
  • Barksdale Resources Corp., announced the completion of the Phase I, 5,000m drilling program conducted at the Cerro Verde Zone within its San Javier project. All of the 36 holes collared at Cerro Verde encountering Cu mineralization. Significant drill results were encountered in hole SJ21-09 with 0.74% Cu over 18m, including 1.75% Cu over 15m; hole SJ21-07 with 1.47% Cu over 15m, plus 0.54% Cu over 12m; hole SJ21-15 with 0.49% Cu over 66m; hole SJ21-08 with 0.64% Cu over 18m, plus 0.54% Cu over 12m; and hole SJ-21-18 with 0.45% Cu over 12m. Although there are still 15 drill holes at the lab pending for results, the drilling has confirmed and expanded the footprint of the Cerro Verde Zone and indicates that Cu mineralization remains open particularly to the south, west, and northeast. The company has logged and sampled all the 36 drill holes collared during the 5,000m, Phase I drill program. It is currently working on completing an updated geological model in early Q1, 2022. Barksdale plans to conduct an initial resource estimate for the Cerro Verde Zone once assays are delivered by the lab. 
  • Canuc Resources Corporation provided an update on the ongoing exploration program at its San Javier project in Sonora. Approximately 11.2 km of drill and trench access roads were completed during the year. One of these roads encountered bedrock consisting of stockwork quartz veining and hydrothermal breccia. A strong northwest trending structure containing gold mineralization was identified along a strike length of more than 3 km. A total of 672 samples were collected from these trenches and road cuts, returning values ranging from <0.005 to 3.18 g/t Au; 00.3 to 169 g/t Ag, and 5ppm to 2.85% Cu. Highlights include 0.47 g/t Au and 0.37% Cu over 14.5m; 0.3 g/t Au over 56m; 0.21 g/t Au over 26m; 0.19 g/t Au over 10m; and 0.16 g/t Au and 0.48% Cu over 13m. Canuc also announced that 27 samples averaging 0.70m wide were collected from known magnetite bearing prospects in the northern part of the property returning up to 1.67 g/t Au, 1,877 g/t Ag and 6,823 ppm Cu, with a weighted average of 0.09 g/t Au, 295 g/t Ag, and 1,784 ppm Cu. In addition, seven channel samples averaging 0.8m wide collected from old mine workings found on recently acquired claims returned notable values in Au (up to 1.67 g/t), Ag (up to 511 g/t) and Cu (up to 1,854 ppm), with a weighted average of 0.15 g/t Au, 282 g/t Ag, and 604 ppm Cu. A drone-supported magnetic survey was completed late in the year and was accompanied by reconnaissance scale geological mapping. Several large magnetic anomalies were identified and targeted for drill testing. The San Javier area has become increasingly recognized as being highly prospective for IOCG, porphyry and other Intrusion-related Au, Ag and Cu-Au mineralization.
  • Tocvan Ventures Corp., commenced a 5,000-8,000m drilling program at its Pilar project. “Drilling will focus on continued step-out drilling along the Main Zone Trend and new 4-Trench Trend. Exploration drilling will continue to evaluate target areas along the Triple Vein Zone. Surface exploration work is currently underway on key target areas and channel samples from the recent trench program have been submitted for analysis”.
  • Kootenay Silver Inc., released results from the last three holes of the 2021 Phase 3 drilling program performed on the B Vein within its Columba project in Chihuahua. Hole CDH-21-111 encountered 105 g/t Ag, 0.04% Pb, and 0.06% Zn over 5.29m, including 190 g/t Ag, 0.07% Pb, and 0.1% Zn over 2.15m, including 387 g/t Ag, 0.2% Pb and 0.1% Zn over 0.65m; hole CDH-21-112 intersected 125 g/t Ag, 0.05% Pb, and 0.1% Zn over 0.7m, plus 174 g/t Ag, 0.07% Pb, and 0.15% Zn over 0.65m, plus 219 g/t Ag, 0.06% Pb, and 0.1% Zn over 29.50m, including 434 g/t Ag, 0.1% Pb, and 0.2% Zn over 13.05m, including 667 g/t Ag, 0.2% Pb, and 0.3 Zn over 7.05m, including 1,050 g/t Ag, 0.4% Pb, and 0.2% Zn over 2m, including 781 g/t Ag, 1% Pb, and 0.1% Zn over 1m; and hole CDH-21-13 with 156 g/t Ag, 0.06% Pb, and 0.1% Zn over 3.5m, including 574 g/t Ag, 0.2% Pb, and 0.3% Zn over 0.6m, plus 47 g/t Ag, 0.01% Pb, and 0.06% Zn over 54.90m, including 114 g/t Ag, 0.01% Pb, and 0.1% Zn over 3m, including 393 g/t Ag, 0.03% Pb, and 0.3% Zn over 2.05m, including 628 g/t Ag, 0.05% Pb, and 0.4% Zn over 1.10m. The company is focused on designing a drill program for the coming year to test the promising high-grade zones at Columba, including the B Vein.
  • Monarca Minerals Inc., reported results from the last eight holes from its Phase 1 San Jose project exploration program. Highlights include hole SJ-05 with 0.3 g/t Au, 2 g/t Ag, and 0.94% Cu over 4.6m, including 0.42g/t Au, 5 g/t Ag, and 0.21% Cu over 1.5m, and hole SJ-8 with 0.04 g/t Au, 79 g/t Ag, 0.34% Cu, 0.4% Pb, and 1.5% Zn over 1.5m, plus 0.36 g/t Au, 3 g/t Ag, 1% Cu, tr Pb, and 0.02% Zn over 6.1m, plus 0.84 g/t Au, <0.5 g/t Ag, 0.07% Cu, tr Pb, and tr Zn over 1.5m, plus 3.11 g/t Au, 32 g/t Ag, 0.13% Cu, 0.08% Pb, and 0.06% Zn over 3m, including 4.29 g/t Au, 53 g/t Ag, 0.18% Cu, 0.1% Pb, and 0.04% Zn over 1.5m. “Mineralization has been intersected in exoskarn and endoskarn and silicified intrusives, which are locally potassically altered with shreddy biotite and potassium feldspar. The area to the west of the completed drilling, where there is potential for skarn mineralization at the contact between mineralized intrusives and overlying dolomitized limestone is the site of the largest IP anomaly in the project area, which remains un-drilled from above where the dolomitized limestone outcrops”.
  • Radius Gold Inc., released drill results from the California target at its Amalia project in Chihuahua. Significant drill interceptions were encountered in holes AMDD21-45 with 60 g/t Ag over 87.25m, including 104 g/t Ag over 10.95m, plus 165 g/t Ag over 3.1m, and plus 187 g/t Ag over 3.3m; hole AMDD21-034 with 87 g/t Ag and 2.15 g/t Au over 3.95m; hole AMDD21-038 with 379 g/t Ag and 1.26 g/t Au over 11.20m; hole AMDD21-039 with 353 g/t Ag and 2.59 g/t Au over 12.75m; and hole AMDD21-044 with 346 g/t Ag and 0.63 g/t Au over 19.05m. “The system remains open to expansion along strike and to depth and so far has only been drilled on 200m centers. With the San Pedro zone drill defined and infill drilling planned for next year at California, we will be in a position to define a significant resource at the Amalia Property. With drilling on-going at the El Cuervo target and many targets remaining to drill test (Oro Viejo, La Caverna, and California SE), 2022 will be an exciting year for Radius”.

ON MINING

  • Americas Gold and Silver Corporation announced that its Los Braceros plant has returned to nameplate production at its Cosala mine operation in Sinaloa.  The company now is milling over 1,600 tonnes of ore per day grading 55 g/t Ag, 4.5 % Zn, and 1.9% Pb. Starting January, 2022 the company expects to increase the throughput to an average of 1,800 tonnes per operating day.
  • GoGold Resources Inc., reported Q3, 2021 production and financial results from its Parral Tailings property in Chihuahua. The company produced 475,734 Oz AgEq at a cash and AISC of USD $14.25 and USD $19.29 per Oz AgEq. GoGold reported revenue of USD $10.95M; cost of sales, including depreciation of USD $8.4M; operating income of USD $178K; and cash flow from operations of USD $538K. Year to date September 30, 2021, GoGold has produced 1.14M Oz Ag, 13,447 Oz Au, and 1.05.M Lb Cu (or 2.27M Oz AgEq). The company reported revenue of USD $53.2M; cash of USD $66.8M, free cash of USD $24.8M, company cash flow from operations before working capital of USD $18.9M, and USD $12.4 M after working capital; and adjusted net income of USD $11M.
  • Orla Mining Ltd., announced that three bars with a total weight of 1,278 Oz containing approximately 770 Oz Au and 510 Oz Ag were poured at its Camino Rojo property in Zacatecas. During the month of November, the Company mined a total of 466,215 ore tonnes at an average grade of 0.65 g/t Au and crushed and stacked a total of 374,976 tonnes on the heap leach pad. Year to date November 30, 2021, the Company mined a total of 1,589,994 tonnes of ore at an average grade of 0.72 g/t Au and crushed and stacked a total of 750,564 tonnes.

ON FINANCING

  • Barksdale Resources Corp., announced a non-brokered private placement of $1,750,000 secured convertible debentures arranged through Delbrook Capital Advisors Inc., an existing shareholder of the company. The net proceeds from the private placement will be used for general corporate and working capital purposes (San Javier project, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Chesapeake Gold Corp., provided an update of its Metates property in Durango, and announced technical plans for 2022. Management members and technical team of the company have been focused on improving the Metates ´project economics as a low cost, scalable mine, and the PEA showed positive results demonstrating an alternative mine plan with an approximately 90% decrease in development capital compared to an autoclave process flow sheet. The company plans to advance the metallurgical and technical work on Metates. In addition, the five-hole PQ diameter core drill program completed for metallurgical test work returned on average, a 19% increase in grade over the block model predicted grades. An overall increase in grade could have a significant impact on the PEA geological model and further improve project economics. Two diamond drill rigs commenced a 16-hole infill program that will drill both up and down dip as well as along strike between the June 2021 holes. The Company expects to release results in early 2022 once assays have been received. Once the assays are received, an updated block model inputting all 21 holes will be the basis for a revised resource estimate, mine planning and future technical studies. On the other hand, Chesapeake plans to carry out follow-up work on four of their regional projects: Nicole, Durango, Lucy, Sinaloa, Sundae, Sinaloa, and Tatatila, Veracruz.
  • Endeavour Silver Corp., released drill results from its Parral project, Chihuahua. In this year, the company has drilled over 14,000m in 59 holes targeting several areas along the La Colorada vein with the goal of expanding the current mineral resources. Highlights from recent drill results include hole VCS-10 on Veta Colorada with 0.01 g/t Au, 2,846 g/t Ag, 0.65% Cu, and 0.01% Zn (2,914 g/t AgEq) over a true width (TW) of 0.89m, including 0.01 g/t Au, 3,380 g/t Ag, and 0.77% Cu (3,461 g/t AgEq) over a TW of 0.79m; hole VCU-38 on the hangingwall of Veta Colorada with 0.05 g/t Au, 204 g/t Ag, 0.07% Cu, 0.8% Pb, and 1.2% Zn (278 g/t AgEq) over a TW of 1.75m, including 0.08 g/t Au, 541 g/t Ag, 0.2% Cu, 0.8% Pb, and 2.2% Zn (667 g/t AgEq) over a TW of 0.33m, plus 0.11 g/t Au, 840 g/t Ag, 0.25% Cu, 9.1% Pb, and 4.7% Zn (1,288 g/t AgEq) over a TW of 2.77m on Veta Colorada, including 0.26 g/t Au, 1,585 g/t Ag, 0.55% Cu, 34.9% Pb, and 4.4% Zn (2,755 g/t AgEq) over a TW of 0.36m; and hole VCU-50 collared on Veta Colorada with 0.55 g/t Au, 708 g/t Ag, 0.2% Cu, 10.9% Pb, and 12.4% Zn (1,504 g/t AgEq) over a TW of 1.23m, including 0.91 g/t Au, 1,130 g/t Ag, 0.25% Cu, 18.9% Pb, and 18.7% Zn (2,406 g/t AgEq) over a TW of 0.69m.
  • Fabled Silver Gold Corp., released results from its ongoing drilling program at its Santa Maria project in Chihuahua. Hole SM20-44 encountered 1.1 g/t Au, 20 g/t Ag, 0.01% Cu, 0.1% Pb, and 0.2% Zn (86 g/t AgEq) over 7.95m, including 1.42 g/t Au, 31 g/t Ag, 0.01% Cu, 0.2% Pb, and 0.3% Zn (104 g/t AgEq) over 5.80m, including 1.68 g/t Au, 40 g/t Ag, 0.01% Cu, 0.2% Pb, and 0.4% Zn (129 g/t AgEq) over 4.05m, including 5 g/t Au, 42 g/t Ag, 0.01% Pb, 0.03% Pb, and 0.1% Zn (229 g/t AgEq) over 1.10m.
  • Impact Silver Corp., announced the discovery of high grade at the New San Ramon Zone located 50m to the south and 150m up dip from previous underground mining and drilling at the San Ramon Mine, within its Zacualpan mining district in Sate of Mexico. A total of 3,726m of drilling in 14 holes has been completed and highlights include hole Z21-15 with 1,443 g/t Au, 0.07% Pb, and 0.1% Zn over a true width (TW) of 1.93m; hole Z21-16 with 897 g/t Ag, 1.6% Pb, and 7.9% Zn over a TW of 1.93m; hole Z21-17 with 453 g/t Ag, 0.2% Pb, and 0.3% Zn over a TW of 2.1m; hole Z21-22 with 410 g/t Ag, 0.1% Pb, and 0.3% Zn over a TW of 1.81m; hole Z21-24 with 568 g/t Ag, 0.6% Pb, and 1% Zn over a TW of 3.65m; and hole Z21-28 with 480 g/t Ag, 0.1% Pb, and 0.1% Zn over a TW of 2.25m. “Known mineralization over the total San Ramon workings has a down dip length of 430m and a strike length of 500m. It remains open for expansion and additional drilling is in progress”.
  • SilverCrest Metals Inc., announced remaining results from its 2021 infill and expansion drilling program at its Las Chispas project in Sonora. The company reported that the 2021 infill and expansion drilling program consisted of 109,590m in 301 drill holes that include a total of 102,560m in 281 holes in the Babi Vista, Babi Vista Splay, Babi Vista FWZ, Babi Norte HG, Granaditas and El Muerto Veins. On Babi Vista Vein, 15 new infill drill holes returned an average grade of 10.82 g/t Au and 863 g/t Ag (1,804 g/t AgEq) over a true width (TW) of 0.90m. 2021 infill drilling results reported an average grade of 9.05 g/t Au and 782 g/t Ag (1,569 g/t AgEq) over a TW of 0.8m. On Babi Vista FWZ, 10 new infill drill holes returned an average grade of 14.13 g/t Au and 1,057 g/t Ag (2,285 g/t AgEq) over a TW of 0.5m. 2021 infill drilling results reported an average grade of 12.58 g/t Au and 2,404 g/t Ag (3,498 g/t AgEq) over a TW of 0.7m. On Babi Norte HW Vein, infill drill holes returned an average grade of 9.87 g/t Au and 98 g/t Ag (1,506 g/t AgEq) over a TW of 0.5m. 2021 infill drilling program reported an average grade of 6.27 g/t Au and 628 g/t Ag (1,167 g/t AgEq) over a TW of 0.5m. On El Muerto Zone and Hanging Wall Vein, the 2021 infill drilling program returned an average grade of 3.97 g/t Au and 274 g/t Ag (619 g/t AgEq) over a TW of 1.4m. On Babi Vista Splay Vein, the infill drilling of 41 holes in 2021 reported an average grade of 15.74 g/t Au and 1,316 g/t Ag (2,684 g/t AgEq) over a TW of 1m. On Granaditas Vein, drilling of 40 holes returned an average grade of 11.65 g/t Au and 2,806 g/t Ag (3,819 g/t AgEq) over 1.2m. “In H1, 2022, underground drill rigs will be working on tighter spaced definition drilling at Babicanora Main, Babi Vista and Babicanora Norte veins in support of underground production planning, a required part of the mining cycle. The surface rig will be working on expansion drilling on the northwest extension of the Babi Vista Vein and further infilling of the El Muerto veins”. 
  • Tarachi Gold Corp., announced positive results of the PEA conducted on its Magistral Mill and Tailing project in Durango. Highlights of the PEA includes an initial capital cost of USD $11.1M and after-tax payback in 1 year; development timeline of 12 months; cash and AISC of USD $648 and USD $705 per Oz Au respectively, net of Ag and Cu credits; pre-tax IRR of 120% and after-tax IRR of 85% at base case price of USD $1,600 Oz Au, USD $22 Oz Ag, and USD $3.40 Lb Cu; pre-tax annual free cash flow of  $15.3M and post-tax cash flow of USD $11.3M during years of full-rate production; and Life of Mine of 3.4 years with total production of 53,900 Oz Au, 75,800 Oz Ag, and 1.9M Lb Cu.
  • Torex Gold Resources Inc., reported results from the 2021 drilling program at its El Limon Guajes underground mine in Guerrero, including zones referred to as Sub-Sill and El Limon Deep. Highlights include holes LDUG-49 with 15.04 g/t Au, 15 g/t Ag, and 0.66% Cu over 34m; hole LDUG-152 with 21.52 g/t Au, 13 g/t Ag and 0.53% Cu over 22.5m; hole LDUG-148 with 9.65 g/t Au, 4 g/t Ag, and 0.18% Cu over 43.5m; hole LDUG-164 with 13.53 g/t Au, 16 g/t Ag, and 0.86% Cu over 28.9m; hole LDUG-166 with 8.92 g/t Au, 4 g/t Ag, and 0.21% Cu over 41m; hole LDUG-139 with 9.21 g/t Au, 19 g/t Ag, and 0.4% Cu over 25.1m; hole LDUG-165 with 6.95 g/t Au, 6 g/t Ag, and 0.27% Cu over 28.7m; hole LDUG-126 with 56.25 g/t Au, 9 g/t Ag, and 0.18% Cu over 3.5m: hole LDUG-146 with 7.02 g/t Au, 4 g/t Ag, and 0.16% Cu over 26.4m; hole LDUG-159 with 10.1 g/t Au, 2 g/t Ag, and 0.12% Cu over 17.8m; hole LDUG-153 with 19.79 g/t Au, 5 g/t Ag, and 0.52% Cu over 7.7m; hole SST-244 with 5.72 g/t Au, 2 g/t Ag, and 0.16% Cu over 24.8m; hole SST-216 with 30.02 g/t Au and 3 g/t Ag over 4m; hole SST-232 with 10.21 g/t Au, 156 g/t Ag, and 1.52% Cu over 11.3m; and hole SST-226 with 10.71 g/t Au, 11 g/t Ag, and 0.44% Cu over 7.8m. To date, Torex has drilled and received assays for 69 drill holes representing approximately 14,200m of drilling. Approximately 5,800m (43 holes) have been drilled at El Limon Deep with an additional 8,400m (26 holes) drilled at Sub-Sill Zone. Torex is expected to complete 25,000m drill program in 2021. There are currently 8 rigs actively drilling off the El Limon Guajes underground, including 3 rigs from surface and 5 rigs underground.
  • Vizsla Silver Corp., released results from three new drill holes targeting the Napoleon Vein resource area at its Panuco project in Sinaloa. Significant mineralization was intersected in holes NP-21-190 with 9.12 g/t Au, 1,058 g/t Ag, 4.7% Pb, and 1.7% Zn (1,902 g/t AgEq) over a true width (TW) of 2.33m, plus 5.14 g/t Au, 161 g/t Ag, 0.4% Pb, 1% Zn (665 g/t AgEq) over a TW of 4.53M; and hole NP-21-197 with 1.12 g/t Au, 55 g/t Ag, 0.05% Pb, and 0.9% Zn (177 g/t AgEq) over a TW of 4.27M, including 3.27 g/t Au, 73 g/t Ag, 0.08% Pb, and 3.3% Zn (452 g/t AgEq) over a TW of 0.99m.
  • Zacatecas Silver Corp., reported Initial Inferred Mineral Resource Estimate for its Panuco deposit in Zacatecas. The company estimated 2.73M tonnes of 171 g/t Ag and 0.17 g/t Au (187 g/t AgEq) for a total of 15.03M Oz Ag and 15K Oz Au (16.4M Oz AgEq), including a zone of 5.1M Oz AgEq at 235 g/t AgEq. The database for the Mineral Resource Estimate consisted of 75 drill holes totalling 23,444 m, and 183 trenches totalling 4,540 m, of which a total of 66 drill holes totalling 19,826 m and 135 trenches totalling 3,545 m intersected the mineralization wireframes used for the Mineral Resource Estimate.

ON DEALS AND CORPORATE ISSUES

  • Advance Lithium Corp., announced that its stock symbol changed from TSXV: AAX to TSXV: AALI (Tabasqueña project, Zacatecas).
  • Bear Creek Mining Corporation entered into a definite agreement with Equinox Gold Corp., to acquire a 100% interest in the Mercedes mine in Sonora: Terms of the agreement are a cash payment of USD $75M and issuance of 24,730,000 Bear Creek common shares on the closing of the acquisition; a deferred cash payment of USD $25M due within six months of the closing date; and a 2% NSR payable on metal production from the Mercedes mining concessions. The USD $75M cash payment on the closing date will be funded by USD $15M from the company´s treasury, and USD $60M from Sandstorm Gold Ltd. Bear Creek and Sandstorm entered into a gold purchase agreement and a debt financing agreement, both subject to customary closing conditions. In exchange for USD $37.5M, Sandstorm will receive 25,200 ounces of gold over 3.5 years, followed by 4.4% of the gold production from Mercedes for the remainder of the life-of-mine, and Sandstorm will pay Bear Creek USD $22.5M to subscribe for a 6%, three-year convertible debenture. Sandstorm has the right to convert the principal amount of the debenture into common shares of Bear Creek, at any time prior to the maturity date, at a 35% premium, or as approved by the TSX-V, to Bear Creek’s share price on closing of the transaction.
  • Consolidated Zinc Limited entered into a offtake agreement with Metco Trading S.A. de C.V. for the sale of 100% of the Plomosas lead concentrates produced from Plomosas for calendar year 2022. Key terms of this agreement include purchase of 100% of lead sulphide concentrates produced from Plomosas; purchase of 100% of lead oxide concentrates, a new lead concentrate product from Plomosas planned to commence production during the 1st quarter of 2022; and fixed treatment charges for 2022, include the new lead oxide concentrates.
  • Defiance Silver Corp., announced results from its annual and special general meeting of shareholders (San Acacio project, Zacatecas).
  • Golden Minerals Company appointed a new member to its Board of Directors, effective December 9, 2021 (Rodeo project, Durango).
  • Mexican Gold Mining Corp., announced favourable resolution of the claims dispute concerning certain lands that overlap a portion of the Company’s Pepe mineral concessions at its Las Minas project, Veracruz.   The General Director of Mines in Mexico has ruled in favour of Mexican Gold, thereby nullifying the portion of the overlapping Santa Fe Claims and reducing it such that it is positioned outside of the Company’s mineral claim boundaries as well as the NI 43-101 resource base.

ON SOCIAL RESPONSIBILITY

  • No relevant news.

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On the picture above, scorodite in a quartz vein displaying boiling texture from an intermediate sulphidation epithermal vein system in a project in Durango, Mexico.  Photo by Miguel A Heredia.