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

By Jorge Cirett

During the 29th week of the year (July 19th to July 25th, 2021), at least 19 press releases were announced by companies working in Mexico. To note, two companies posted exploration advances on their properties, two on quarterly reports and one in reopening plans, two on financing news, five more on project development or resource definition and two posted on deals or corporate issues. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Silver Spruce added a second rig to Drilling at El Diamante. In Chihuahua, Mammoth Resources informed on drill targeting at Tenoriba.  ON MINING, Fortuna Silver and Excellon Resources released Q2 2021 reports. Americas Gold and Silver updated on the re-opening plan at its Cosalá operations. ON FINANCING, Altaley Mining executed a 12 M loan agreement for the development of Tahuehueto. ON RESOURCES AND DEVELOPMENT, Mexican Gold Mining continues work on Cerro Las Minitas PEA. Sonoro Gold released results from surface rock chip sampling at Cerro Caliche. Southern Silver Exploration reported diamond drill results from Cerro Las Minitas. GoGold Resources released drilling results from Los Ricos North.  ON DEALS AND CORPORATE ISSUES, Sierra Madre Gold and Silver signed an option agreement on the acquisition of the La Tigra project in Nayarit. Vizsla Silver is to exercise the option to acquire 100% of the Panuco-Copala district in Sinaloa.  ON SOCIAL RESPONSIBILITY, Peñoles and Fresnillo PLC informed on the several projects that the companies provide for the education of young people on several areas of Mexico, especially in digital platforms. Conalep and the New Mexico Institute of Mining signed an agreement to enhance the learning of students across the borders.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Mammoth Resources Corp. informed on drill targeting activities at Tenoriba, in Chihuahua. “The Company has extended drill targets an additional 1.7 kilometres (km), for a total of over 4.0 km from its previously announced initial 2.4 km of the 3-dimensional (3D) modelling of its infill, Induced Polarization/Magnetometer (IP/Mag) geophysical survey”. Work in the project by previous operators, Mammoth and Centerra includes over 6,000 soil samples, more than 750 rock chip samples, 151 m of surface channel samples, 26 diamond drill holes, IP and magnetic geophysical surveys, mapping, and spectral identification of alteration minerals.
  • Silver Spruce Resources Inc. is to continue its phase 1 reverse circulation drilling at El Mezquite in Sonora. Seven holes have been already completed, and a second rig has been added to the property to complete the 2,475 m of drilling. “The Phase 1 RC program comprises 20 holes with a combined depth of 2,475 metres (950 metres completed) and will utilize eight drill pad locations focused around a 400m x 600m area with elevated precious metal values to 3.41 g/t Au and 387 g/t Ag”.

ON MINING

  • Fortuna Silver Mines Inc. reported production results for the second quarter 2021. At its San José mine in Oaxaca, 1.62 M Oz Ag, 10,266 Oz Au were produced from ore averaging 205 gpt Ag, 1.30 gpt Au. Production and cost guidance for 2021 is 5.8-6.5 M Oz Ag, 38-42 K Oz Au at an AISC of US$12.2-14.5 per Oz AgEq.
  • Excellon Resources Inc. announced Q2 2021 production results from its Platosa mine in Durango. A total of 21.8 K tonnes were mined, and 21.6 K tonnes were milled @ 489 gpt Ag, 5.14% Pb, 6.48% Zn, recovering 87.0% Ag, 78.6% Pb, 79.4% Zn, to produce 296 K Oz Ag, 1.93 M Lb Pb, 2.46 M Lb Zn.
  • Americas Gold and Silver Corp. provided an update on the re-opening plan of its Cosalá operations in Sinaloa. The Company and Government Labour inspectors jointly visited the mine and mill and both appear in good condition. “Mexican government inspectors from the Mexican Ministry of Labour will be in Cosalá this week to review the re‐start plans, which will allow the Company to begin recalling employees immediately following the completion of the inspection assuming compliance with the terms of the July 6, 2021 agreement“. The company expects the mine and the mill to be operating by the end of July, and the operation also has 70 K tonnes of ore stockpiled and ready to process.

ON FINANCING

  • Altaley Mining Corp. executed a US$12 M loan facility agreement with Accendo Banco S.A. Institución de Banca Múltiple, to complete the final part of it’s previously announced US$25 M Accendo syndicate funding plan to complete the construction and ramp-up of its Tahuehueto project in Durango (Campo Morado, Guerrero).
  • Zacatecas Silver Corp. announced that its common shares are eligible for electronic clearing and settlement through the Depositary Trust Co. in the United States. “DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible” (Zacatecas Silver, Zacatecas).

ON RESOURCES AND DEVELOPMENT

  • Mexican Gold Mining Corp. announced work continues to produce the PEA on its Las Minas project in Veracruz, within three weeks.
  • Sonoro Gold Corp. reported assay results from surface sampling at its Cerro Caliche property in Sonora. With 1,292 soil and rock samples collected, a 600 m southern extension and a 750 m extension were confirmed on the El Colorado-La Ventana and the Buena Suerte-San Quintin corridors, with 23.7 m @ 1.7 gpt Au (including 5.5 m @ 6.0 gpt Au) in the former and 52.6 m @ 0.2 gpt Au in the latter.
  • Southern Silver Exploration Corp. reported diamond hole drilling results from its Cerro Las Minitas project in Durango. Highlighted true width intervals comprise 1.4 m @ 719 gpt Ag, 14.2% Pb, 16.0% Zn; 0.4 m @ 541 gpt Ag, 0.1 gpt Au, 8.8% Pb, 4.0% Zn in the South Skarn target, and 0.5 m @ 452 gpt Ag, 0.5 gpt Au, 2.8% Pb, 0.6% Zn; 0.5 m @ 312 gpt Ag, 0.12 gpt Au, 2.8% Pb, 0.6% Zn in the Huizache chimney in the Mina La Bocona area. “Current modelling has identified three panels of mineralization at the South Skarn target, the largest of which can now be traced laterally for approximately 400 metres and up to 580 metres down-dip”.
  • GoGold Resources Inc. released results of eight diamond drill holes from El Orito area in the Los Ricos North project in Jalisco. Highlighted core length intervals comprise 41.2 m @ 10 gpt Ag, 0.01 gpt Au, 0.06% Cu, 0.3% Pb, 2.0% Zn; 33.3 m @ 19 gpt Ag, 0.03 gpt Au, 0.08% Cu, 1.1% Pb, 1.7% Zn; 13.0 m @ 30 gpt Ag, 0.02 gpt Au, 0.22% Cu, 0.3% Pb, 1.1% Zn; 3.0 m @ 19 gpt Ag, 0.02 gpt Au, 0.34% Cu, 1.3% Pb, 1.6% Zn; 18.0 m @ 51 gpt Ag, 0.09 gpt Au, 0.06% Cu, 0.4% Pb (including 1.9 m @ 230 gpt Ag, 0.34 gpt Au, 0.23% Cu, 1.0% Pb; 54.3 m @ 97 gpt Ag, 0.12 gpt Au, 0.70% Cu, 2.9% Pb, 5.4% Zn; 38.1 m @ 32 gpt Ag, 0.03 gpt Au, 0.17% Cu, 1.9% Pb, 2.7% Zn; 69.1 m @ 26 gpt Ag, 0.05 gpt Au, 0.14% Cu, 1.0% Pb, 1.6% Zn (including 4.0 m @ 149 gpt Ag, 0.25 gpt Au, 0.70% Cu, 3.2% Pb, 6.9% Zn). “The holes that the Company has drilled to date at El Orito have shown mineralization averaging approximately 30m in width for more than 700m in strike length and up to approximately 300m in vertical depth from surface and is open in all directions”.
  • Minera Alamos Inc. informed that its Santana project in Sonora continues to advance as programmed despite the above average rainfall to date in the area. The press release describes all the progress in leach solution systems, overliner placement, crushing and screening, grade procedures and mining.

ON DEALS AND CORPORATE ISSUES

  • Sierra Madre Gold and Silver Ltd. Entered into a purchase agreement with an option to joint venture with Industrial Minera México S.A. de C.V. (IMMSA) for the 357 ha. La Tigra project in Nayarit, 150 km north of its flagship’s Tepic project. The agreement involves payment of US$1.5 M over three years, with Sierra Madre obliged to produce a 43-101 technical report before the end of the period. IMMSA holds a 2.5% NSR royalty of which Sierra Madre can acquire 1.5% for US$1.5 M.
  • Vizsla Silver Corp. signed a binding agreement with Minera Rio Panuco S.A. de C.V. and executed a binding option exercise notice with Silverstone Resources which together constitute the acceleration and exercise of the option to acquire 100% of the Panuco-Copala district in Sinaloa. Vizsla has to pay $US4.25 M upon signing, issue US$12 M in Vizsla shares before August 10, 2021; and make a cash payment of $US6.1 M before February 2022.

ON SOCIAL RESPONSIBILITY

  • Peñoles and Fresnillo PLC  informed on the several projects that the companies support provide for the education of young people on several areas of Mexico, especially in digital platforms.
  • Conalep (Colegio Nacional de Estudios Profesionales y Tecnicos) and the New Mexico Institute of Mining and Technology signed an agreement to enhance the learning of Mexican and American students.

On the image below:  Intense quartz veining in a granitic intrusive rock in Sinaloa. Picture by Jorge Cirett.

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

Vein-Bx hosted in volcanic rocks

By Miguel A Heredia

During the 28th week of the year (July 12th to July 18th, 2021), at least 29 press releases were announced by companies working in Mexico and 4 news published by the media, with nine communicating production and financial results, nine reporting on resources and developments of their properties, seven announcing financial rounds, four informing on exploration results, two commenting on Mexican issues and two discussing social issues.  ON MEXICO ISSUES, The Ministry of Economy of Mexico alerted the public about false information that is being disseminated on behalf of the “Undersecretariat of Mining” and recalled that it no longer exists. The Mexican Geological Service (SGM) and the Government of Hidalgo signed an agreement to join efforts on research and science to integrate a knowledge-creating system. ON EXPLORATION, In Sinaloa, Vizsla presented results from the first four holes collared at the Josephine Vein within its Panuco project. In Durango, Mithril released drilling result from its Copalquin property. In Zacatecas, Alien provided an update on the review and planning for the next phase of exploration on its Donovan 2 project. In Oaxaca, Inomin filed a NI43-101 technical report for its la Gitana project. ON MINING, Aura reported Q2, 2021 production from its Aranzazu mine in Zacatecas. First Majestic reported Q2, 2021 production results from their Mexican mine operations. Altaley presented Q2, 2021 production and financial results from its Campo Morado mine in Guerrero. Golden Minerals reported Q2, 2021 production results from its Rodeo mine in Durango. Gold Resource released Q2, 2021 production results from its Arista mine in Oaxaca. Magna Gold presented Q2, 2021 production results from its San Francisco mine in Sonora. McEwen reported Q2, 2021 production results from its El Gallo project, Sinaloa. Mexus announced that the company will be shipping approximately 1 tonne of activated carbon to USA for processing.  ON FINANCING, Almadex and Azucar Minerals granted stock options to certain directors, employees and consultants. Gatos Silver signed a definitive agreement to retire its portion of the Los Gatos JV term loan and announced a public offering to sell shares of its common stock (Los Gatos mine, Chihuahua). One World Lithium announced a non-brokered private placement for gross proceeds of up to CAD $2,025,000 (Salar del Diablo project, Baja California). Riverside informed that it is to receive USD $5.4M in exploration funding from BHP to advance four copper projects in Sonora. Orla Mining closed a non-broker prospectus financing for gross proceeds of USD $35M (Camino Rojo project, Zacatecas).  ON RESOURCES AND DEVELOPMENT, Discovery Silver released results from 13 drill holes collared at its Cordero project in Chihuahua. Fabled announced results from its ongoing drilling program at Santa Maria project in Chihuahua. Avino presented results from Phase 1 of the drill campaign conducted at its Avino mine in Durango. GoGold released results from eleven drill holes collared at its Los Ricos North project in Jalisco. Golden Tag presented results from a drill hole collared at the Fernandez Zone within its San Diego property in Durango. Great Panther announced Q2, 2021 production results from their Topia and Guanajuato Mine Complex located in Durango and Guanajuato respectively. IMPACT informed that it has completed phase 1 of the Veta Negra drilling program in the Zacualpan mining district, State of Mexico. Kootenay hired Blue Coast Research to conduct metallurgical testing on its la Negra property in Sonora. Prime Mining released drill results from its Los Reyes project in Sinaloa.  Silver Tiger announced that it continue intersecting high grade mineralization at its El Tigre project in Sonora.  ON DEALS AND CORPORATE ISSUES, no relevant news. ON SOCIAL RESPONSIBILITY, Grupo México donated 8,000 native trees to Hermosillo, Sonora. The Government of Zacatecas along with representatives of the mining companies Fresnillo plc and Capstone Gold began with the Tree Donation Program.

ON MEXICO ISSUES

  • The Ministry of Economy of Mexico alerted the public about false information that is being disseminated on behalf of the “Undersecretariat of Mining” and recalled that it no longer exists. Through a press release, the agency indicated that it has no relationship with the “Commission National Mining Reactivation and Sustainable Production Mexico 2021”, nor with the “Project for Reactivation and Sustainable Production”, nor with the “Guide to Good Operating Practices”, which is supposedly being prepared by the “Undersecretary of Mining of the Government of Mexico”. According to Article 243 of the Federal Criminal Code, the crime of falsifying public documents will be punishable by imprisonment from four to eight years.
  • The Mexican Geological Service (SGM) and the Government of Hidalgo signed an agreement to join efforts on research and scienceto integrate a knowledge-creating system, for the benefit of future generations. Objectives are established to work together on two projects: Comarca Minera Geopark and LABChico: Mineral del Chico Underground Laboratory.

ON EXPLORATION

  • Vizsla Silver Corp., presented results from the first four holes collared at the Josephine Vein within its Panuco project. Highlights include hole NP-21-132 with 2.16 g/t Au, 599 g/t Ag, 0.4% Pb, and 1% Zn (797 g/t AgEq)  over 2.5m, including 12.4 g/t Au, 3,320 g/t Ag, 1.8% Pb, and 4.9% Zn (4,431 g/t AgEq) over 0.3m; and hole NP-21-139 with 3.4 g/t Au, 426 g/t Ag, 1% Pb, and 5.5% Zn (869 g/t AgEq) over 1.45m, including 3.91 g/t Au, 502 g/t Ag, 1.2% Pb, and 6.8% Zn (1,020 g/t AgEq) over 1.15m. “Drilling intersected veining of 90m strike, 190m depth where it remains open.  Ground Electromagnetic (EM) has mapped the vein over 1.7 km”.
  • Mithril Resources Ltd., released drilling result from its Copalquin property in Durango. Bonanza grade was intersected in hole CDH-077 collared at El Refugio Area with 80.3 g/t Au and 705 g/t Ag over 8.26m, including 106 g/t Au and 913 g/t Ag over 6.26m, including 837 g/t Au and 6,680 g/t Ag over 0.77m. Other high grade intercepts were encountered in hole CDH-075 with 13.8 g/t Au and 83 g/t Ag over 2.7m, plus 10.9 g/t Au and 364 g/t Ag over 4.25m, including 16.3 g/t Au and 414 g/t Ag over 2.65m, plus 1.02 g/t Au and 17 g/t Ag over 2m, plus 0.84 g/t Au and 35 g/t Ag over 4.5m; and hole CDH-076 with 0.93 g/t Au and 16 g/t Ag over 2.4m, plus 2.06 g/t Au and 95 g/t Ag over 5m, plus 0.86 g/t Au and 39 g/t Ag over 1m. Drilling results continue expanding the El Refugio structure down dip with high-grade and bonanza grade gold-silver intercepts.
  • Alien Metals Ltd., provided an update on the review and planning for the next phase of exploration on its Donovan 2 project in Zacatecas. Alien has received this property back from Capstone after ceasing their agreement. After reviewing all the exploration work carried out at Donovan 2, Alien concluded that the original high-priority targets identified by Alien prior to Capstone’s involvement remain untested. In the eastern area of Donovan 2 property, a north-south grid to collect 55 Metal Mobile Ion (MMI) surface geochemical samples has been designed and work has commenced. “The Company is finalizing an initial 4-to-6 hole program for about 800m to target the Los Alamos and Cerro de la Cruz targets once a review of the current drilling permit status is completed, the MMI results are received and reprocessing of the geophysics are completed to ensure the Company has used every available piece of data to maximize confidence in the drilling program”. 
  • Inomin Mines Inc., filed a NI43-101 technical report for its la Gitana project located in Oaxaca. La Gitana is an advance property where a substantial near-surface, low-sulphidation, epithermal gold-silver mineral system has been outlined. “Previous drilling programs at La Gitana in 2004 – 2006 by Chesapeake Gold Corp., intersected gold-silver mineralization in a core zone 400 to 500m long, 50 to 150m wide and 50 to 300m depth, with grades ranging from 0.25 to 27.8 g/t gold and 5 to 2,330 g/t silver”.  The gold-silver mineralization is open to expansion to the southeast and at depth from drill-tested areas.  Inomine plans to conduct a phase 2 drilling campaign and complete a preliminary resource estimation.

ON MINING

  • Aura Minerals inc., reported Q2, 2021 production from its Aranzazu mine in Zacatecas. It produced 5,120 Oz Au, 84,263 Oz Ag, and 6.78M Lb Cu for a total of 22,590 GEO (Oz AuEq).
  • First Majestic Silver Corp., reported Q2, 2021 production and financial results from their Mexican mine operations. The table below, shows mine by mine figures:
MineOre ProcessedTonnes per DayAg Grade (g/t)Au Grade (g/t)Ag RecoveryAu RecoveryAg Oz ProducedAu Oz ProducedAgEq Oz produced
San Dimas202,3822,2243013.0795%96%1,868,03119,2273,176,725
Santa Elena234,3812,576811.1793%96%565,4538,4531,140,398
La Encantada242,8392,6691380.0278%90%840,541102847,502
TOTAL679,6027,4691671.3289%94%3,27,402527,7825,164,625
  • Altaley Mining Corporation presented Q2, 2021 production and financial results from its Campo Morado mine in Guerrero. The company milled 164.1K tonnes of 1.2 g/t Au, 129 g/t Ag, 1.1% Pb, and 4.5% Zn with metallurgical recoveries of 22%, 46%, 31%, and 74% respectively to produce 11.9K tonnes of Zn concentrate and 2.7K tonnes of Pb concentrate. Altaley reported revenues of USD $13.9M from the sale of Zn concentrates and USD $2.27M for the Pb concentrates for total revenue of USD $16.2M.
  • Golden Minerals Company reported Q2, 2021 production results from its Rodeo mine in Durango.  The company mined 164,954 tonnes from which it processed 49,552 tonnes of 3.6 g/t Au and 10 g/t Ag with metallurgical recoveries of 78% and 83.9% respectively to produce 3,452 Oz Au and 11,225 Oz Ag (3,230 Oz AuEq).
  • Great Panther Mining Limited announced Q2, 2021 production results from their Topia and Guanajuato Mine Complex located in Durango and Guanajuato respectively. At Topia, Durango, the company processed 15,520 tonnes of 432 g/t Ag, 1.07 g/t Au with metallurgical recoveries of 93.5% and 60.3% respectively, to produce 201,339 Oz Ag, 321 Oz Au, 799.7K Lb Pb, and 1.07M Lb Zn (3123K Oz AgEq or 3,674 Oz AuEq. At the Guanajuato Mine Complex, the company processed 40,477 tonnes of 118 g/t Ag and 1.58 g/t Au with metallurgical recoveries of 87.4% and 87.6% respectively, to produce 133K Oz Ag and 1,786 Oz Au (284.9K Oz AgEq or 3,352 Oz AuEq).
  • Gold Resource Corporation released Q2, 2021 production results from its Arista mine in Oaxaca. The company milled 129,590 tonnes from Arista and El Aguila mines with grades of 1.91 g/t Au, 79 g/t Ag, 0.36% Cu, 1.6% Pb, and 3.6% Zn at Arista mine and 2.58 g/t Au and 47 g/t Ag at El Aguila to produced 5.7K Oz Au, 270.3K Oz Ag, 817.6K Lb Cu, 2.7M Lb Pb, and 7.15M Lb Zn.
  • Magna Gold Corp., presented Q2, 2021 production results from its San Francisco mine in Sonora. It mined 1.23M tonnes  of 0.43 g/t Au and processed 1.35M tonnes (all sources) of 0.49 g/t Au to produce 11.7K Oz Au and 8.4K Oz Ag. The company sold 11.8K Oz Au and 8.4K Oz Ag.
  • McEwen Mining Inc., reported that it produced 1,300 Gold Equivalent Oz (GEOs) during Q2, 2021 at its El Gallo project, Sinaloa from residual leaching of the heap leach pad.
  • Mexus Gold US announced that the company will be shipping approximately 1 tonne of activated carbon to USA for processing which is believed to contain 4K grams of Au.

ON FINANCING

  • Almadex Minerals Ltd., granted stock options to certain directors, employees and consultants to purchase 757,800 common shares at an exercise price of $0.30 per share which expire on July 8, 2023 (El Chato project, Puebla).
  • Azucar Minerals Ltd., granted stock options to certain directors, employees and consultants to purchase 793,800 common shares at an exercise price of $0.11 per share which expire on July 8, 2023 (El Cobre project, Veracruz).
  • Gatos Silver Inc., signed a definitive agreement to retire its attributable portion of the los Gatos JV term loan which is approximately $154.8M, and announced a public offering to sell shares of its common stock to raise funds to achieve a more cost-efficient capital structure, including the potential extinguishment of the Los Gatos Joint Venture’s term loan, and to create additional liquidity in Gatos Silver’s common stock. The company plans to offer 6,500,000 shares of common stock and for certain selling stockholders to offer 1.82M shares of common stock. In addition, Gatos Silver and the selling stockholders intend to grant the underwriters a 30-day option to purchase up to 975K and 273K additional shares of common stock, respectively, at the public offering price, less underwriting discounts and commissions (Los Gatos mine, Chihuahua).
  • One World Lithium announced a non-brokered private placement for gross proceeds of up to CAD $2,025,000. It will allocate the net proceeds as follows: Salar del Diablo Lithium property southern and possible middle portion of the property drilling program CAD $750K; initial lab tests, design of and completing engineer design work for a pilot plant for the company’s critical fluid separation technology CAD $750K and CAD $525K for working capital.  
  • Riverside Resources Inc., informed that it is to receive USD $5.4M in exploration funding from BHP to advance four copper projects as part of the expanding copper exploration program with BHP in Sonora.  The properties to advance are Chuin, Palofierro, Sinoquipe, and Peñitas. Chuin and Palofierro are drill-ready properties, and drilling permits are underway, while Sinoquipe and Peñitas will be subject to Magneto-Telluric surveys which are expected to commence after contractors are secured.  This new funding of at least USD 5.4M is in addition to the USD $1.3M allocated for the next generative phase of exploration work, which began two months ago.
  • Orla Mining Ltd., closed a non-broker prospectus financing for gross proceeds of USD $35M consisting of 9,085,263 common shares priced at CAD $4.75 per common share. Part of the net proceeds will be used for development activities and at its Camino Rojo Oxide Gold Project in Zacatecas, and for general corporate purposes.

ON RESOURCES AND DEVELOPMENT

  • Discovery Silver Corp., released results from 13 drill holes collared at its flagship Cordero project in Chihuahua. These results are part of the recently completed phase 1 drill program and are going to be incorporated in a new resource estimate in Q3, 2021 and PEA in Q4, 2021. Highlights include hole C21-457 with 1,570 g/t Ag, 16.25 g/t Au, 7% Pb, and 19% Zn (3,934 g/t AgEq) over 1.1m; hole C21-435 with 122 g/t Ag, 0.06 g/t Au, 1.1% Pb, and 1.9% Zn (245 g/t AgEq) over 28.5m, including 1,960 g/t Ag, 0.32 g/t Au, 15.4% Pb, and 21.6% Zn (3,424 g/t AgEq) over 1.1m; hole C21-437 with 87 g/t Ag, 0.05 g/t Au, 0.9% Pb, and 0.8% Zn (157 g/t AgEq) over 58.8m, including 1,480 g/t Ag, 0.22 g/t Au, 13.1% Pb, and 20% Zn (2,789 g/t AgEq) over 1.2m; hole C21-436 with 1,385 g/t Ag, 0.49 g/t Ag, 7.5% Pb, and 10.9% Zn (2,139 g/t AgEq) over 1.4m; hole C21-435 with 385 g/t Ag, 1.15 g/t Au, 5.9% Pb, and 11.9% Zn (1,179 g/t AgEq) over 4.5m; and hole C21-459 with 420 g/t Ag, 0.32 g/t Au, 8.8% Pb, and 14.9% Zn (1,374 g/t AgEq) over 1.3m. In addition, “the company has completed 17,200 m (47 holes) as part of its Phase 2 drill program which will be ongoing through the remainder of the year. Phase 2 drilling will be focused on three key areas: (1) upgrading inferred resources for inclusion in a prefeasibility study; (2) resource expansion of bulk-tonnage mineralization; and (3) testing of the width, grade and continuity of the extensive high-grade vein systems that transect the deposit. There are currently four drill rigs operating on site”.
  • Fabled Silver Gold Corp., announced results from the current ongoing drilling program at its Santa Maria project in Chihuahua. The most significant drill intercept was encountered in hole SM20-20 with 2.5 g/t Au, 32 g/t Ag, 0.6% Pb, 0.5% Zn, and 0.03% Cu (161 g/t AgEq) over 30.7m, including 3.33 g/t Au, 41 g/t Ag, 0.8% Pb, 0.5% Zn, and 0.04% Cu (213 g/t AgEq) over 22.70m, including 5.61 g/t Au, 64 g/t Ag, 1.4% Pb, 0.9% Zn, and 0.06% Cu (353 g7t AgEq) over 11.60m, including 7.24 g/t Au, 80 g/t Ag, 1.9% Pb, 1.1% Zn, and 0.07% Cu (453 g/t AgEq) over 7.24m. “The Company has now completed drill holes SM20-01 to SM20-24 for a total of approximately 6,500 meters of the increased 9,200 meter drill program drilled to date. Hole SM20-25 is currently in progress”.
  • Avino Silver & Gold Mines Ltd., presented results from Phase 1 of the drill campaign, which is looking to add measured and indicated resources to its Avino mine in Durango. The most significant drill intersects on El Trompo Vein were encountered in holes  TR-21-01 with 0.56 g/t Au, 177 g/t Ag,  0.5% Pb, and .7% Zn (577 g/t AgEq) over 0.95m; and hole TR-21-03 with 0.42 g/t Au, 276 g/t Ag, 0.1% Cu, 0.3% Pb, and 0.1% Zn (322 g/t AgEq) over 2.75m. On the Santiago Vein, the most significant drill intercepts was encountered in hole ST-21-04 with 2.62 g/t Au, 643 g/t Ag, 0.25% Cu, 0.3% Pb, and 0.3% Zn (865 g/t AgEq) over 0.8m. On the La Malinche Vein, the best drill intersects were encountered in hole LM-21-04 with 1.68 g/t Au, 252 g/t Ag, 1.17% Cu, 0.9% Pb, and 10.3% Zn (820 g/t AgEq) over 1.4m; and hole LM-21-06 with 1.56 g/t Au, 364 g/t Ag, 2.9% Cu, 0.7% Pb, and 0.06% Zn (786 g/t AgEq) over 0.90m.
  • GoGold Resources Inc., released results from eleven drill holes collared at its Los Ricos North project in Jalisco. Drilling highlights include hole LRGCS-21-047 collared at Casados Area with 0.76 g/t Au and 145 g/t Ag (2.71 g/t AuEq or 203 g/t AgEq) over 22.6m, including 4.31 g/t Au and 864 g/t Ag (15.84 g/t AuEq or 1,188 g/t AgEq) over 2m; and hole LRGCS-21-056 also collared at Casados Area with 0.96 g/t Au and 187 g/t Ag (3.45 g/t AuEq or 259 g/t AgEq) over 45.9m, including 6.17 g/t Au and 1,050 g/t Ag (20.17 g/t AuEq or 1,513 g/t AgEq) over 4.5m, including 13.01 g/t Au and 2,034 g/t Ag (40.12 g/t AuEq or 3,009 g/t AgEq) over 2m, including  19.87 g/t Au and 2,877 g/t Ag (58.23 g/t AuEq or 4,367 g/t AgEq).
  • Golden Tag Resources Ltd., presented results from hole 21-58 drilled at a steep angle toward the southwest to test the top of the Fernandez Zone resource envelope within its San Diego property in Durango. This hole intersected 0.13 g/t Au, 151 g/t Ag, 1.4% Pb, 1.7% Zn and 0.12% Cu (306 g/t AgEq) over a length of 6.55m, plus 0.14 g/t Au, 96 g/t Ag, 1.9% Pb, 1.6% Zn, and 0.07% Cu (258 g/t AgEq) over 16.34 g/t AgEq, plus 0.04 g/t Au, 0.8% Pb, 0.8% Zn, and 0.06% Cu (111 g/t AgEq) over 191.57m. Future drilling will be designed to determine if the grade improvement can be extended to the west and at depth below hole 21-58.
  • IMPACT Silver Corp., informed that it has completed phase 1 of the Veta Negra drilling program in the Zacualpan mining district, State of Mexico. The most significant drill intercept was encountered in hole Z21-05 with 187 g/t Ag0.98 g/t Au, 1.2% Pb, and 2.5% Zn over 13.85m. “The Veta Negra vein system was mined historically as both an open pit and from underground. Two north-northwest trending parallel veins enclosed by stockwork mineralized host rock are currently being mined by IMPACT over widths averaging 14 metres in the open pit”.
  • Kootenay Silver Inc., hired Blue Coast Research to conduct metallurgical testing on its la Negra property in Sonora with the aim to further investigate the best recovery process for La Negra along the path towards an initial mineral resource estimate and a preliminary economic assessment (PEA).
  • Prime Mining Corp., released drill results from the Noche Buena deposit within its Los Reyes project in Sinaloa. Highlights include hole 21NB-06 with 1.29 g/t Au and 61 g/t Ag over a true width (TW) of 28.9m , including5.74 g/t Au and 108 g/t Ag over a TW of 3.6m; hole 21NB-09 with 2.89 g/t Au and 62 g/t Ag over a TW of 8.4m, including 18 g/t Au and 209 g/t Ag over a TW of 1.2m; hole 21NB-08 with 1.23 g/t Au and 28 g/t Ag over a TW of 8.9m, including 6.08 g/t Au and 91 g/t Ag over a TW of 0.9m; hole 21NB-10 with 0.7 g/t Au and 28 g/t Ag over a TW of 15.6m, including 3.73 g/t Au and 109 g/t Ag over a TW of 0.9m; hole 21NB-05 with 0.77 g/t Au and 48 g/t Ag over a TW of 2.9m, including 2.67 g/t Au and 140 g/t Ag over a TW of 0.4m; hole 21NB-11 with 1 g/t Au and 18 g/t Ag over a TW of 5.2m;and hole 21NB-07 with 0.65 g/t Au and 21 g/t Ag over 10.4m. “The Noche Buena deposit remains open at depth and further along strike”.
  • Silver Tiger Metals Inc., announced that it continue intersecting high grade mineralization at its El Tigre project in Sonora. Highlights from the ongoing drilling program include hole ET-21-231, collared at the Sooy Vein with 303 g/t Ag, 0.11 g/t Au, 0.13% Cu, 0.8% Pb, and 0.7% Zn (369 g/t AgEq) over 10.8m, including 801 g/t Ag, 0.35 g/t Au, 0.71% Cu, 3.1% Pb, and 2.8% Zn (2,063 g/t AgEq) over 0.5m, and 125 g/t Ag,  0.17 g/t Au, 0.06% Cu, 0.5% Pb, and 0.7% Zn (180 g/t AgEq) over 21.9m, including 534 g/t Ag, 0.09 g/t Au, 0.2% Cu, 2.4% Pb, and 4% Zn (749 g/t AgEq) over 1.5m; and hole ET-21-235 collared at the Benjamin Vein with 89 g/t Ag, 0.1 g/t Au, 0.12% Cu, 0.8% Pb, and 1.1% Zn (161 g/t AgEq) over 6.3m, including 391 g/t Ag, 0.13 g/t Au, 0.56% Cu, 3.6% Pb, and 4.4% Zn (686 g/t AgEq) over 1m.

 ON DEALS AND CORPORATE ISSUES

  • No relevant news.

ON SOCIAL RESPONSIBILITY

  • Grupo México donated 8,000 native trees to Hermosillo, Sonora. The procedures to request the specimens began six months ago through the civil association Actions for a Better World by Karina López Ivich, who is the director and also climate leader of Climate Reality.
  • The Government of Zacatecas along with representatives of the mining companies Fresnillo plc and Capstone Gold began with the Tree Donation Program. Mining companies settled in the entity, has set a goal of delivering 10 thousand trees with the commitment to plant them in suitable places, carry out the necessary care and maintenance and guarantee their survival.

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 volcanic-hosted epithermal vein-breccia from a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia.

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

Flow Banded Rhyolite Dome

By Miguel A Heredia

During the 26th week of the year (June 28th to July 04th, 2021), at least 25 press releases were announced by companies working in Mexico and 5 news published by the media, with nine disclosing deals and corporate issues, seven announcing financial rounds, three reporting on resources and developments, three informing on exploration results, three communicating production and financial results, three commenting on Mexican issues, and two discussing social issues.  ON MEXICO ISSUES, The Ministry of the Environment and Natural Resources (SEMARNAT) authorized the expansion of the El Boleo mine in Baja California. Guanajuato Silver announced that it will restart activities at its El Cubo mine in October 2021. Mexico was the world’s leading silver producer in 2020. ON EXPLORATION, In Sonora, Silver Spruce announced it has contracted regional ASTER and LANDSAT spectral analysis on their Mezquite, Jackie and Diamante mining properties. In Chihuahua, Reyna Silver announced that it has started a 10,000m drilling program at its Batopilas project, and reported that a second drill rig has been added to speed up the completion of the current drilling  program conducted at its Guigui project.  ON MINING, Consolidated Zinc provided an operation update of its Plomosas mine in Chihuahua. Magna Gold announced it has achieved full-scale commercial production at its San Francisco mine in Sonora. Mexus Gold announced that it has sold gold doré as a result of recent production at its Santa Elena mine in Sonora.  ON FINANCING, Altaley restructured a USD $$26,027,240 debt with Trafigura and Nyrstar (Campo Morado mine, Guerrero). Comet issued 5M of fully paid ordinary shares (Santa Teresa property, Baja California Norte).  Defiance Silver granted stock options to certain directors and officers (San Acacio property, Zacatecas). Orla subscribed a non-brokered prospectus financing for gross proceeds of USD $35M (Camino Rojo project, Zacatecas). Silver Wolf received approval from OTC Markets Group Inc. to commence trading on the OTCQB Venture Market under the ticker symbol “GYRRF” (Ana Maria and El Laberinto properties in Durango). Silver Bull closed a private placement for gross proceeds of CAD $500K (Sierra Mojada project, Coahuila). Vista Gold received a final payment for $1M from Prime Mining to complete the agreement on the Guadalupe de Los Reyes property in Sinaloa.  ON RESOURCES AND DEVELOPMENT, Chesapeake drilled five core drill holes at its Metates project in Durango to provide core for a comprehensive metallurgical testwork program and to confirm the higher-grade nature of the Metates intrusive hosted mineralization. Prime Mining reported new results from its ongoing drill program conducted at its Los Reyes project in Sinaloa. Silver Tiger released results from its ongoing drilling program conducted at its El Tigre project in Sonora. ON DEALS AND CORPORATE ISSUES, Capstone published its 2020 sustainability report (Cozamine mine, Zacatecas). Discovery Silver presented results of its annual general meeting of shareholders (Cordero project, Chihuahua). Fortuna and Roxgold completed its previously announced business combination (San Jose mine, Oaxaca). GoGold presented its first sustainability report (Los Ricos project, Jalisco). Gold79 announced results from its annual general meeting of shareholders (Taviche project, Oaxaca). GR Silver appointed its Chairman of the Board of Directors (Plomosas project, Sinaloa).  Maverix acquired royalty portfolio from Pan American Silver, including Hernandez property in Sonora.  Sonoro presented results from its annual general meeting of shareholders (Cerro Caliche project, Sonora).  ON SOCIAL RESPONSIBILITY, The company Minera Media Luna (MML), a subsidiary of Torex Gold Resources, convened the second edition of the “Enchulemos Juntos Nuestra Comunidad” (let’s improve our community together) program in the town of Nuevo Balsas, Guerrero. The Secretary of Tourism, Eduardo Yarto delivered two S stamps to Fresnillo plc, after it concluded its processes of renewal of procedures within its facilities to implement good sustainable practices.

ON MEXICO ISSUES

  • The Ministry of the Environment and Natural Resources (SEMARNAT) approved on a conditional basis the expansion of the Environmental Impact Manifestation (MIA) requested by Minera y Metalúrgica del Boleo for the exploitation of copper, cobalt and zinc in 446 hectares for 16 years in the municipality of Mulegé, in Baja California. 2,481 participants representing 89% voted In favor of the expansion.
  • Guanajuato Silver Company Ltd., announced that it will restart activities at its El Cubo mine, Guanajuato in October 2021, which is expected to employ more than 200 miners in the capital, with priority in hiring those who were fired in the closure two years ago.
  • Mexico was the world’s leading silver producer in 2020 maintained the leadership in silver production on a global scale in 2020, with 5,541M tonnes. The Mexican mining company Fresnillo plc owned by Grupo Bal and linked to the Baillères family, is the largest company primary silver producer in the world.

ON EXPLORATION

  • Silver Spruce Resources Inc., announced it has contracted Strategic Consultants IGIS for a regional ASTER and LANDSAT spectral analysis on their Mezquite, Jackie and Diamante mining properties in Sonora. This study will help to understand the structural and lithological controls in a regional context and provide additional detail on the mineral by mineral distribution over each of the properties. It also will help to outline alteration pattern for enhanced target definition in each of the mining properties.
  • Reyna Silver Corp., announced that it has started a 10,000m drilling program at its Batopilas project in Chihuahua. The program is focused on testing targets identified in the spring of 2021 exploration campaign, which discovered multiple extensions to the 30 known veins in the district, of which two new veins returned high-grade values up to 42,302 g/t Ag and 210.4 g/t Au. The company also announced that a second drill rig has been added to its Guigui project in the Santa Eulalia mining district in Chihuahua to extend and speed up the completion of the ongoing drilling program. The company has completed 8,000m of the 12,000m planned and this second rig will allow to speed up the completion of the entire Phase 1 drilling by the end of July, 2021. Results of the Phase 1 drilling campaign will be released soon after.

ON MINING

  • Consolidated Zinc Limited provided an operation update of its Plomosas mine in Chihuahua. The company announced that it processed 3,958 tonnes of ore in May, 2021 for 719 tonnes of zinc concentrates and 184 tonnes of lead concentrates at its Plomosas and Aldama plants in Chihuahua. The company intends to continue processing through both plants until ore stockpiles are depleted and the Plomosas plant sustains the targeted 4,500tpm process rate.
  • Magna Gold Corp., announced it has achieved full-scale commercial production at its San Francisco mine in Sonora. Magna is on track to achieve its earlier stated 2021 guidance of 55K-65K Oz Au production, since it has completed the necessary pre-stripping and substantially lowered the mine strip ratio from ~8:1 to ~3:1. At San Francisco, the company anticipates a production run rate of ~6K Oz Au/month in Q3 and looks to exit the year at a run rate of ~7.5K Oz Au/month.
  • Mexus Gold US announced that it has sold gold doré as a result of recent production at its Santa Elena mine in Sonora. The sales netted the company $24K. “The company is in the process of shipping activated carbon to the U.S. for processing. It is believed that this material contains up to 75 OZ Au.  Mexus is also adding liner to the existing heap leach pad which will allow for increased production. Material currently being mined continues to test in the 5.66g/t Au range”.

ON FINANCING

  • Altaley Mining Corporation restructured a USD $26,027,240 debt with Trafigura Mexico S.A. de C.V., and Nyrstar Canada (Holdings) Ltd.  Terms of the total debt restructured was USD $14,720,840 on the Tahuehueto project in Durango for a term of 32 months, an London interbank offered interest rate (LIBOR) of 6% (1 year), and a grace period of 8 months; USD $4,024,678 on the Campo Morado mine in Guerrero for a term of 26 months, a LIBOR of 5% (3 months), and a grace period of 8 months; and USD $7,281,722 on the Campo Morado mine in Guerrero for a term of 26 months and a LIBOR of 10%.
  • Comet Resources Ltd., issued 5M of fully paid ordinary shares upon the exercise of unlisted options exercisable at $0.02 each on or before 30 June 2021.  (Santa Teresa property, Baja California Norte).
  • Defiance Silver Corp., granted stock options to certain directors and officers to purchase an aggregate of 1.425M of common shares at an exercise price of $0.90. The options are exercisable for a ten-year term expiring June 30, 2031 (San Acacio property, Zacatecas).
  • Orla Mining Ltd., subscribed a non-brokered prospectus financing for gross proceeds of USD $35M, consisting of 9,085,263 common shares priced at CAD $4.75 per common share. Part of the net proceeds will be used for development activities at its Camino Rojo Oxide Gold project in Zacatecas. The offering is expected to close on or about July 14, 2021.
  • Silver Wolf Exploration Ltd., received approval from OTC Markets Group Inc. to commence trading on the OTCQB Venture Market under the ticker symbol “GYRRF” (Ana Maria and El Laberinto properties in Durango).
  • Silver Bull Resources Inc., closed a private placement for gross proceeds of CAD $500K. Net proceeds of the private placement will be used by Silver Bull for general working capital purposes   (Sierra Mojada project, Coahuila).
  • Vista Gold Corp., received a final payment for $1M from Prime Mining Corp. to complete the agreement on the Guadalupe de Los Reyes property in Sinaloa. With this $1.0M payment, Vista has no remaining right to be granted the royalties and back-in rights.

ON RESOURCES AND DEVELOPMENT

  • Chesapeake Gold Corp., drilled five core drill holes at its Metates project in Durango to provide core for a comprehensive metallurgical testwork program and to confirm the higher-grade nature of the Metates intrusive hosted mineralization. Significant drill intercepts were encountered in hole CKG21-086 with 1.15 g/t Au and 49 g/t Ag (1.80 g/t AuEq or 135 g/t AgEq) over a true width (TW) of 432m, including 1.21 g(t Au and 417 g/t Ag (6.77 g/t AuEq or 508 g/t AgEq) over a TW of 9m, including 2.49 g/t Au and 22 g/t Ag (2.78 g/t AuEq or 20+9 g/t AgEq) over a TW of 69m, and including 2.13 g/t Au and 9 g/t Ag (2.25 g/t AuEq or 170 g/t AgEq) over a TW of 57m; hole CKG21-085 with 1.13 g/t Au and 29 g/t Ag (1.53 g/t AuEq or 114 g/t AgEq) over a TW of 282m, including 1.34 g/t Au and 32 g/t Ag (1.76 g/t AuEq or 132 g/t AgEq) over a TW of 150m; and hole CKG21-084 with 1.06 g/t Au and 17 g/t Ag (1.29 g/t AuEq or 97 g/t AgEq) over a TW of 135m, plus 0.86 g/t Au and 11 g/t Ag (1.01 g/t AuEq or 75 g/t AgEq) over a TW of 90m.
  • Prime Mining Corp., reported new results from its ongoing drill program conducted at its Los Reyes project in Sinaloa. The most significant drill intercepts were encountered in hole 21Mina-02 with 4.44 g/t Au and 1,060 g/t Ag over an estimated true width (ETW) of 4.8m, including 6.62 g/t Au and 1,398 g/t Ag over an ETW of 2m, including 6.3 g/t Au and 1,881 g/t Ag over an ETW of 1.2m; hole 21Mina-05 with 3,243 g/t Ag over an ETW of 0.74m, plus 1.45 g/t Au and 29 g/t Ag over an ETW of 1.85m; and hole 21Mina-06 with 1.72 g/t Au and 30 g/t Ag over an ETW of 3.20m.  These results are from six holes completed at Mina Area during phase I drilling. To date, 15,000m Phase I is complete and the 30,000m Phase 2 program has been started.
  • Silver Tiger Metals Inc., released results from its ongoing drilling program conducted on the Sooy Vein at its El Tigre project in Sonora. Highlights include hole ET21-233 with 0.13 g/t Au, 491 g/t Ag, 0.08% Pb, and 0.01% Zn (510 g/t AgEq) over 0.5m, plus  0.25 g/t Au, 2,041 g/t Ag, 0.65% Cu, 1.2% Pb, and 3.6% Zn (2,271 g/t AgEq), including 4,048 g/t Ag, 0.45 g/t Au, 1.31% Cu, 0.6% Pb, and 7.3% Zn (4,461 g/t AgEq) over 0.5m; hole ET21-230 with 0.15 g/t Au, 704 g/t Ag, 0.14% Cu, 0.05% Zn (731 g/t AgEq) over 0.5m, plus 0.12 g/t Au, 193 g/t Ag, 0.09% Cu, 0.03% Pb, and 0.15 % Zn (217 g/t AgEq) over 3m, including 0.2 g/t Au, 1,080 g/t Ag, 0.55% Cu, 0.1% Pb, and 0.75% Zn (1,176 g/t AgEq) over 0.5m, plus 0.28 g/t Au, 199 g/t Ag, 0.06% Cu, 0.2% Pb, and 0.3% Zn (241 g/t AgEq) over 0.5, plus 0.41 g/t Au, 161 g/t Ag, 0.04% Cu, 0.2% Pn, and 0.4% Zn (214 g/t AgEq) over 0.5m; and hole ET21-229 with 0.13 g/t Au, 63 g/t Ag, 0.21% Cu, 0.8% Pb, and 1.6% Zn (165 g/t AgEq) over 13.5m, including 0.11 g/t Au, 83 g/t Ag, 0.27% Cu, 1% Pb, and 2% Zn (209 g/t AgEq) over 9.9m, including 0.21 g/t Au, 114 g/t Ag, 0.38% Cu, 3.7% Pb, and 8.7% Zn (542 g/t AgEq) over 1.8m.

ON DEALS AND CORPORATE ISSUES

  • Capstone Mining Corp., published its 2020 sustainability report.  (Cozamine mine, Zacatecas)
  • Discovery Silver Corp. presented results of voting at its annual general meeting of shareholders (Cordero project, Chihuahua).
  • Fortuna Silver Mines Inc., and Roxgold Inc., completed its previously announced business combination to create a global premier growth-oriented intermediate gold and silver producer (San Jose mine, Oaxaca).
  • GoGold Resources Inc., presented its first sustainability report that sets out the company’s priorities with respect to its environmental, social and governance (“ESG”) practices (Los Ricos project, Jalisco).
  • Gold79 Mines Ltd., announced results from its annual general meeting of shareholders (Taviche project, Oaxaca).
  • GR Silver Mining Ltd., appointed its Chairman of the Board of Directors (Plomosas project, Sinaloa).
  • Maverix Metals Inc., acquired royalty portfolio from Pan American Silver, including Hernandez property in Sonora. The Hernandez property, currently on exploration, is owned by First Majestic and includes a 2.5% NSR.
  • Sonoro Gold Corp., presented results from its annual general meeting of shareholders (Cerro Caliche project, Sonora). 

ON SOCIAL RESPONSIBILITY

  • Minera Media Luna (MML), a subsidiary of Torex Gold Resources, convened the second edition of the “Enchulemos Juntos Nuestra Comunidad” (let’s improve our community together) program in the town of Nuevo Balsas, Guerrero. During the cleaning day, about 300 people participated, including contractors, residents and collaborators of the mining company, remodeling four public spaces: the vehicular roundabout on Gerardo Reyes Norte Street, the camellones on that same street, the sports area in the southern part and the perimeter fencing of the downtown court. The investment of the work done amounted to MXP $1.3M. Members of the Public and Community Relations areas of MML, the collaborators of 11 contractor companies, members of the Participatory Community Development Committee (CODECOP) and residents of Nuevo Balsas cleaned and reforested green areas, painted fences and garrisons, and assisted in various activities that together aim to maintain the program to improve public spaces that the mining company began last year. The effort achieved the painting of 2,300 meters of trimmings, the planting of 90 trees, the collection of five tons of garbage, and the painting of 300 square meters of fences.
  • The Secretary of Tourism in Zacatecas, Eduardo Yarto delivered two S stamps to Fresnillo plc, after it concluded its processes of renewal of procedures within its facilities to implement good sustainable practices. The Secretary underlined the disposition of Fresnillo plc, with the renewal of the certification for the golf course and the ecological park Fresnillo PLC, to offer quality services to users.

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 flow banded rhyolite dome intruding a clay-altered rhyolitic ignimbrite sequence in Chihuahua, Mexico.  Photo by Miguel A Heredia.

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

Quartz Blade Texture

By Miguel A Heredia

During the 22nd week of the year (May 31st to June 06th, 2021), at least 24 press releases were announced by companies working in Mexico and 1 news published by the media, with six disclosing deals and corporate issues, six announcing financial rounds, five informing on exploration results, four reporting on resources and developments, three discussing social issues, and one communicating production and financial results.  ON MEXICO ISSUES, No relevant news.  ON EXPLORATION, In Sonora, Benjamin Hill Mining released additional sampling results from its Benjamin Hill property, Silver Spruce and its JV partner Colibri commenced the phase 1 exploration drilling at its Mezquite project, and Heliostar presented results from its mapping and sampling program at its Oso Negro project. In Zacatecas, Zacatecas Silver completed the geological mapping and sampling program of the San Manuel Vein System. ON MINING, Santacruz reported Q1, 2021 production and financial results from their Zimapan and Rosario mines in Hidalgo and San Luis Potosi States respectively. ON FINANCING, Alamos Gold declared quarterly dividend of USD $0.025 per common share (Mulatos mine, Sonora). Chesapeake reported that it granted 73,500 incentive stock options at an exercise price of $4.37 per share (Metates project, Durango). Colibri announced that its previously announced private placement has been oversubscribed for an additional 399,139 units at $.10 per unit (El Pilar project, Sonora). Silver Viper closed the first tranche of a $6M private placement for gross proceeds of $4.57M (La Virginia project, Sonora).  VanGold signed a definitive agreement to obtain a non-dilutive USD $7.5M in the form of a silver and gold loan (El Cubo mine, Guanajuato). Vizsla closed a bought deal financing offering for gross proceeds of CAD $69M (Panuco project, Sinaloa). ON RESOURCES AND DEVELOPMENT, Barksdale outlined a 5,000m drilling program at its San Javier project in Sonora. GoGold released results from six holes collared at its Los Ricos North project in Jalisco. Oroco presented results from the 3D IP survey conducted at its Santo Tomas project in Sinaloa. Sonoro completed the nine final RC holes at its Cerro Caliche project in Sonora and moves towards an updated technical report and new PEA. ON DEALS AND CORPORATE ISSUES, Capstone announced the resignation of a member of its Board of Directors (Cozamine mine, Zacatecas). VanGold announced that it will change its name to Guanajuato Silver Company, Ltd. (El Cubo mine, Guanajuato). Gatos Silver announced the appointment of its President and CEO, effective June 1, 2021 (Los Gatos mine, Chihuahua). Great Panther appointed its new CFO and COO (Topia mine, Durango). First Majestic released results from its annual general meeting of shareholders (San Dimas property, Durango).  Fortuna Silver provided an update of the legal dispute against the Mexican Geological Survey (SGM) if the royalty in one of its claims at San Jose mine in Oaxaca is not paid.  ON SOCIAL RESPONSIBILITY, Minera Alamos released its 2020 Environmental, Social, and Corporate Governance (ESG) Report (Mulatos mine, Sonora).  Grupo México delivered seed capital for productive and social projects in the community of Sombrerete, Zacatecas. Newmont Corporation launched its 2020 Annual Sustainability Report.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Benjamin Hill Mining Corp., released additional assays from 45 samples collected at the new La Salada East Area within its Benjamin Hill property in Sonora. Chip samples returned multiple results ranging from 1 g/t Au to 3.8 g/t Au with peaks of 10 g/t Au and 10.1 g/t Au. Gold values are associated with quartz veining and quartz breccias often with chalcopyrite, galena and hematite, limonite and “boxwork” pyrite. These results extend the known gold mineralization previously reported. The company also announced that it is finalizing drill program planning to test the most prospective targets generated to date and expects to receive drill permits in early June.
  • Silver Spruce Resources Inc., and its JV partner Colibri Resource Corporation commenced the 2,000m phase 1 exploration RC drilling at its Mezquite project in Sonora. Six holes are planned to drill test an area of 400m by 600m with elevated values to 3.41 g/t Au and 387 g/t Ag.
  • Heliostar Metals Limited presented results from its mapping and sampling program at its Oso Negro project in Sonora. High grade channel samples defined drill targets at the Prospecto Vein zone including 5.14 g/t Au, 953 g/t Ag, 1% Pb, and 1.9% Zn (1,428 g/t AgEq) over 1.2m; 2.55 g/t Au, 346 g/t Ag, 0.4% Pb, and 1.2% Zn (588 g/t AgEq) over 1.8m; and 3.29 g/t Au, 89 g/t Ag, 0.2% Pb, and 0.6% Zn (362 g/t AgEq) over 2.4m. This target has a length of 360m of strike, and has a weighted average grade of 420 g/t AgEq over and average width of 1.3m. Heliostar also announced the stacking of a new claim, Angel de Plata 2, increasing its land position to 120 square kilometers. Two new vein corridors have been discovered on the new claim with mine dump samples from historic workings up to 1,810 g/t AgEq.
  • Zacatecas Silver Corp., completed the first pass of its geological mapping and sampling program on the San Manuel Vein System. The company defined eight sets of oxidized, silver-base metal mineralized veins for over at least 3 km in length, with a dilation zone that is at least 600m wide. This extensional zone represents robust drill targets. The company has already commenced an environmental study at San Gill-San Manuel, concurrent with planning of first phase drilling at this target, which should be completed within 4 weeks.

ON MINING

  • Santacruz Silver Mining Ltd., Santacruz reported Q1, 2021 production and financial results from their Zimapan and Rosario mines in Hidalgo and San Luis Potosi states respectively.  At Zimapan, Hidalgo, the company processed 156, 433 tonnes to produce 646K Oz AgEq at cash and AISC of USD $19.91 and USD $27.19 per Oz AgEq respectively. At Rosario, San Luis Potosi, Santacruz processed 19,806 tonnes to produce 60.9K Oz AgEq at cash and AISC of USD $27.19 and USD $52.57 respectively. The company reported consolidated revenues of USD $11.1M, gross profit of USD $2.2M, EBITDA of USD $983K, and cash and marketable securities of USD $6.8M (Zimapan and Rosario mines in Hidalgo and San Luis Potosi respectively).

ON FINANCING

  • Alamos Gold Inc., declared quarterly dividend of USD $0.025 per common share. The company also implemented a dividend reinvestment plan. It gives the shareholders the option of increasing their investment by electing to receive common shares instead of cash dividend at a 3% discount to the prevailing market price (Mulatos mine, Sonora).
  • Chesapeake Gold Corp., reported that it granted 73,500 incentive stock options at an exercise price of $4.37 per share. The Options will vest and be exercisable on the basis of 25% annually, commencing May 31, 2022, the first anniversary of the date of the grant. (Metates project, Durango).
  • Colibri Resource Corporation announced that its previously announced private placement of 23,482,000 units has been oversubscribed for an additional 399,139 units at $.10 per unit with each unit consisting of one common share and one common share purchase warrant exercisable at $0.15 for one common share for a period of twenty-four months from the date of issue. (El Pilar project, Sonora).
  • Silver Viper Minerals Corp., closed the first tranche of a $6M private placement for gross proceeds of $4.57M (La Virginia project, Sonora).  The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes.
  • VanGold Mining Corp., signed a definitive agreement to obtain a non-dilutive USD $7.5M in the form of a silver and gold loan. The company estimates that the amount of gold and silver required to repay this loan facility will represent approximately 25% of the projected gold and silver to be produced by VanGold from its operations at the El Cubo mill in Guanajuato during the 12-month repayment period of the loan.
  • Vizsla Silver Corp., closed a bought deal financing offering for gross proceeds of CAD $69M. The net proceeds of the Public Offering will be used to advance the exploration and development of the Company’s Panuco project, to make option payments and pursue potential future acquisitions, as well as for working capital and general corporate purposes.

ON RESOURCES AND DEVELOPMENT

  • Barksdale Resources Corp., outlined a 5,000m drilling program at its San Javier project in Sonora. The plan is to start drilling in July 2021 at the Cerro Verde area to confirm near surface copper oxide and gold mineralization up to 200m and test structures believed to control higher grade mineralization.  Cerro Verde has historic indicated + inferred resources for 86M tonnes of 0.33% Cu for a total of 630M Lb Cu. The company also plans to run metallurgical tests to better understand the potential processing routes for both copper and gold mineralization.
  • GoGold Resources Inc., released results from six holes collared at its Los Ricos North project in Jalisco. The most significant results was encountered in hole LRGF-21-041 with 0.38 g/t Au and 84 g/t Ag (1.5 g/t AuEq or 113 g/t AgEq) over 1.7m, plus 0.31 g/t Au and 82 g/t Ag (1.41 g/t AuEq or 105 g/t AgEq) over 56.1m, including 3.57 g/t Au and 975 g/t Ag (16.57 g/t AuEq or 1,243 g/t AgEq) over 1.3m, plus 0.19 g/ Au and 90 g/t Ag (1.39 g/t AuEq or 104 g/t AgEq) over 2.3m.
  • Oroco Resource Corporation presented results from the 3D IP survey conducted at its Santo Tomas project in Sinaloa. The 3D IP results show a good correlation of chargeability and resistivity features with known mineralization and alteration zones in the area of historical drilling and resource delineation. “Final survey data displays a very extensive distribution of chargeability / resistivity features beyond the confines of the historical work at Santo Tomas”. 
  • Sonoro Gold Corp., completed the nine final RC holes at its Cerro Caliche project in Sonora and moves towards an updated technical report and new PEA. The most significant drill intersections were encountered in hole SCR-262 collared at Buena Suerte Area with 0.37 g/t Au and 0.6 g/t Ag (0.38 g/t AuEq) over 21.33m, and ole SCR-264 also collared at Buena Suerte area with 0.29 g/t Au and 12 g/t Ag (0.47 g/t AuEq) over 21.34m, including 1.59 g/t Au and 135 g/t Ag (3.52 g/t AuEq) over 1.53, plus 0.76 g/t Au and 7 g/t Ag (0.87 g/t AuEq) over 15.24m, including 2.4 g/t Au and 2 g/t Ag (2.43 g/t AuEq) over 1.52m. These results indicated a coalescence of the Buena Suerte and Los Japoneses areas into a single orebody of shallow, oxide gold mineralization. Sonoro expects two independent 43-101 compliant reports to update the resource size and classification and determine whether it is sufficient to support the Company’s proposed heap leach mining operation with a conceptual operation of up to 15,000 tonnes per day.

ON DEALS AND CORPORATE ISSUES

  • Capstone Mining Corp., announced the resignation of a member from its Board of Directors (Cozamine mine, Zacatecas).
  • VanGold Mining Corp., announced that it will change its name to Guanajuato Silver Company, Ltd., for which it has reserved the stock symbol GSVR with the TSX Venture Exchange (El Cubo mine, Guanajuato).
  • Gatos Silver Inc., announced the appointment of its President and CEO. He will assume its role, effective June 1, 2021 (Los Gatos mine, Chihuahua).
  • Great Panther Mining Limited, appointed its new CFO and COO, effective June 30, 2021 (Topia mine, Durango).
  • First Majestic Silver Corp., released results from its annual general meeting of shareholders (San Dimas property, Durango). 
  • Fortuna Silver Mines Inc., provided an update of the legal dispute against the Mexican Geological Survey (SGM) if the royalty in one of its claims at San Jose mine in Oaxaca is not paid. Effective May 27, 2021, the General Direction of Mines (DGM) provided notice to the Company of the termination of the cancellation procedure, as it has determined that the required cause for cancellation of the concession was not established.   As a result, the Company has discontinued the Amparo Proceedings in the Collegiate Court in Mexico. In light of these constructive developments, the Company is now engaged in goodwill discussions with the SGM to reach an agreement to the satisfaction of both parties with respect to the royalty claim.

ON SOCIAL RESPONSIBILITY

  • Alamos Gold Inc., released its 2020 Environmental, Social, and Corporate Governance (ESG) Report. It outlines the company’s progress on its ESG performance in 2020 across its operations, projects and offices, and provides direction on planned initiatives for 2021 (Mulatos mine, Sonora). 
  • Grupo México delivered seed capital for productive and social projects in the community of Sombrerete, Zacatecas, which contribute to promoting development and building a more competitive community. This project that has been carried out since 2009 has approved more than 600 projects. On this occasion, seven new projects were approved whose support is MXP $1M, which is distributed among the projects, according to the scope presented by each one.
  • Newmont Corporation launched its 2020 Annual Sustainability Report. This is part of the suite of reports on the Company’s environmental, social and governance (ESG) practices in key areas that include health, safety and security, human rights, the environment, social acceptance, governance, and inclusion and diversity.

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, quartz blade texture in a hot spring and epithermal vein system in a project in Hidalgo, Mexico.  Photo by Miguel A Heredia.

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

Rich-silver banded quartz vein

By Miguel A Heredia

During the 20th week of the year (May 17th to May 23th, 2021), at least 28 press releases were announced by companies working in Mexico and 7 news published by the media, with nine reporting on resources and development, six informing on exploration results, five disclosing deals and corporate issues, five commenting on Mexican issues, five announcing financial rounds, three communicating production results, and two discussing social issues.  ON MEXICO ISSUES, Minera Penmont (Fresnillo plc) thanked the President of Mexico for his comments on the insecurity registered in Sonora. Maria Luisa Albores, Head of the Ministry of Environmental and Natural Resources (SEMARNAT), travel to Santa Rosalia to meets with businessmen and workers from El Boleo mining company. Plenary of the Guerrero State Congress approved recently the creation of the Mining Commission. Maria Luisa Albores, Head of the Ministry of Environmental and Natural Resources (SEMARNAT) made a series of unfortunate statements against the Mexican mining industry.  ON EXPLORATION, In Sonora, Tocvan received permit for trenching and drilling at its the El Pilar project, Silver Spruce, JV partner of Colibri Resources on Jackie project, discovered a new high-grade exploration target in the property, Ridgestone completed another phase of exploration at its Rebeico project, and Minaurum provided an exploration update on their Alamos and Aurifero projects. In Sinaloa, Vizsla presented results from ten holes drilled on Tajitos Vein at its Panuco project. In Oaxaca, Minaurum provided an update on their Santa Marta and Aurena projects.  ON MINING, Consolidated Zinc provided an update of its Plomosas plant in Chihuahua. Minera Alamos announced that it has successfully executed the first planned production blasts at its Santana project in Sonora. Mag Silver presented Q1, 2021 production and financial results from its Juanicipio project in Zacatecas. ON FINANCING, Canasil closed an oversubscribed non-brokered private placement for gross proceeds of $790K (La Esperanza project, Zacatecas). Defiance announced a brokered private placement for gross proceeds of up to CAD $7.2M (San Acacio project, Zacatecas). Sonoro granted, under its share option plan, incentive stock options to certain directors, officers and consultants to purchase an aggregate of 2M (Cerro Caliche, Sonora). Telson granted incentive stock options to newly appointed directors totaling 2M (Campo Morado, Guerrero). Southern Silver announced that its common shares have commenced to trade on the OTCQX (Cerro Las Minitas, Durango). ON RESOURCES AND DEVELOPMENT, Silvertone announced the appointment of a mining contractor and commences to access underground workings at its La Frazada mining property in Nayarit. Azucar Minerals recommenced drilling at its El Cobre property in Veracruz. Capitan Mining released results from eight RC drill holes from its 2021 program on the Capitan gold zone in Durango. Endeavour announced drill results from its Bolañitos property in Guanajuato. GoGold presented results from eight drill holes collared at its Los Ricos North project in Jalisco. Orex contracted SRK Consulting to conduct a resource estimation study on its Coneto property in Durango. Tarachi Gold completed a tailings drilling program at its Magistral project in Durango. Silver Tiger released drill results from its El Tigre project in Sonora.  Sailfish presented an updated mineral resource estimate on its Gavilanes property in Durango. ON DEALS AND CORPORATE ISSUES; Fabled announced proposed spinout of its copper assets into Fabled Copper Corp (Santa Maria property, Chihuahua). Chesapeake announced results from its annual general meeting of shareholders (Metates property, Durango). Comet Resources executed a binding agreement to acquire 100% interest in the La Sorpresa III tenement (Santa Teresa property, Baja California). Xali signed a new exploration and production agreement on El Dorado property in Nayarit. Riverside announced that it has recovered from Hochschild the Los Cuarentas project in Sonora. ON SOCIAL RESPONSIBILITY, Minera San Xavier (New Gold) and the Archdiocese of San Luis Potosí, announced the reopening of the temple of San Pedro Apóstol in Cerro San Pedro, San Luis Potosi. The Mining Cluster of Sonora AC announced that it will promote a comprehensive safety and work-family balance in mining.

ON MEXICO ISSUES

  • Minera Penmont (Fresnillo plc) thanked the President of Mexico for his comments on the insecurity registered in Sonora. Two years ago, Minera Penmont denounced before state authorities the commission of various crimes, including the invasion of their property, perpetrated by a criminal group that claims to be part of the ejido. This group has absolutely no legal arguments and intends to take over the private property of the company to carry out mining exploitation actions outside the law, without the concession required for it, nor the corresponding environmental permits, using dangerous and controlled materials, directly affecting the Mexican State, the environment, the company and maintaining its criminal acts in the region.
  • Maria Luisa Albores, Head of the Ministry of Environmental and Natural Resources (SEMARNAT), traveled to Santa Rosalia to meets with businessmen and workers from El Boleo mining company.  She was entrusted with a consultation to find out the opinion of the population about the expansion of the environmental impact statement (MIA). Minera Boleo requested to expand the area of extraction, processing and shipment of copper minerals.
  • Plenary of the Guerrero State Congress approved recently the creation of the Mining Commission.  The president of the Political Coordination Board (Jucopo) of the local Congress, Alfredo Sánchez Esquivel pointed out that there is a real problem in the case of mining companies and the environment, for which the creation of this Commission was necessary. For his part, the state secretary of Promotion and Economic Development, Álvaro Burgos Barrera, considered the incorporation of a legislative commission to monitor the mining sector as highly relevant. He reported that in the current state administration headed by Héctor Astudillo Flores, governance allowed mining companies to invest approximately USD $2B in Guerrero.
  • Maria Luisa Albores, Head of the Ministry of Environmental and Natural Resources (SEMARNAT) made a series of unfortunate statements against the Mexican mining industry. She assured that the country’s mining activity has caused strong environmental effects, monopolizing water and causing social inequality. Her statements are full of biased and wrong information and caused immediately the strong reaction of different actors of the mining sector. Specialists of the sector declared that the view of the federal government has on mining is wrong. CAMIMEX has indicated that of the total water consumption in Mexico, 77% is used by agriculture; 14% is for public use; 5% to generate energy and 4% for industrial use and of the latter only 0.9% corresponds to milling. CAMIMEX also stated that 74% of the water used by this industry is recycled and, of that amount, 55% is continuously reused. In addition, the mining sector has 70 sewage treatment plants in the communities where it operates. There are dams that capture rainwater, which is given to the municipality, piped and sent to homes, when it is necessary. A large percentage of companies carry out social and human rights proceedings. They generate social and environmental programs. In 2019, mining companies allocated MXP $7,450M to actions in favor of the environment and MXP $1,756M to community development, in addition to the MXP $3,496M that were paid to the Mining Fund. Many companies have the largest plant nurseries in the country and have large animal rescue zoos that are delivered to the State. Mining is one of the industries that produces and plants the most trees, 6.6M million trees produced in the nurseries of mining companies; 2.93 million trees planted reforesting an area of more than 3,000 hectares in 2019. The Mexican mining industry is over-regulated and has to comply with seven environmental permits in the stage of exploration and nineteen environmental permits throughout the life of a mine. For the reasons stated above, the mining sector rejects the indications that point to that its activity does not respect the norms of protection of the environment and that it does not generate social welfare for the neighboring communities. That is why the sector unlocks the doors to the authorities with an open invitation to visit the operations and verify for themselves these realities of the mining sector and reliably inform the population.

ON EXPLORATION

  • Tocvan Ventures Corp., received permit for additional seven trenches and forty four drill pads at its the El Pilar project in Sonora. The additional drill pads will be used during the current program and during a phase III program planned for the fall of 2021.
  • Silver Spruce Resources Inc., JV partner of Colibri Resources Corp on Jackie project, discovered a new high-grade exploration target in the property. Silver Spruce discovered a high quality, broadly-zoned geochemical anomaly with multiple mineralized surface rock samples with >0.1 g/t Au and anomalous to highly anomalous base metal and pathfinders element values, ranging up to 9.65 g/t Au and 515 g/t Ag. The target is characterized by an extensive and intense oxide and silicate alteration, which consists of bleached and oxidized argillic zones with anomalous clay minerals and muscovite. Silver Spruce plans to conduct a grid sampling and mapping around this exploration target.
  • Ridgestone Mining Inc., completed another phase of exploration at its Rebeico project, which consisted of geologic mapping, prospecting and sampling around the past producing El Cobre mine. A total of 93 samples were collected and assays are expected to arrive in the coming weeks.
  • Minaurum Gold Inc., provided an exploration update on their Alamos and Aurifero projects in Sonora, and Santa Marta and Aurena projects in Oaxaca.  At Alamos project, the company is planning to resume the phase II of its drilling program shortly, has completed a total of 30,000 m of drilling and discovered 26 separate vein zones. Minaurum is focused on systematically expanding silver shoots discovered in Phase I as well as continuing with aggressive exploration drilling focusing on new discoveries at unmined veins. At Aurifero project, the company has completed compilation of historical exploration data at Aurifero and has re-logged some of the available drill core from the project.  Minaurum will design a drill program and apply for necessary permits in the second half of 2021.
  • Vizsla Silver Corp., presented results from ten holes drilled on Tajitos Vein at its Panuco project in Sinaloa. The most significant drill intersection was encountered in hole NP-21-29 with 1.56 g/t Au and 391 g/t Ag (513 g/t AgEq) over a true width (TW) of 7.76m, including 3.60 g/t Au and 1,157 g/t Ag (1,423 g/t AgEq) over a TW of 1.22m. Vizsla has drilled 32 holes at Tajitos Vein, showing an average weighted grade of 2.1 g/t Au and 329 g/t Ag (505 g/t AgEq) over an average vein TW of 3.08m. Mineralization extends over 575 metres in length, 250 metres deep and remains open to the northeast, southwest and at depth.
  • Minaurum Gold Inc., provided an update on their Santa Marta and Aurena projects in Oaxaca. At Santa Marta project, the company has acquired regional mapping and sampling data indicate the likely presence of additional nearby VMS exploration targets that lie within Minaurum’s property holdings.  Minaurum has designed an initial drill program and submitted a drill permit for environmental approval. At Aurena project, it intends to continue holding and ultimately conducting a Phase II drill program, most efficiently in conjunction with an initial drill program at the nearby Santa Marta project.

ON MINING

  • Consolidated Zinc Limited provided an update of its Plomosas plant in Chihuahua. The Plomosas pant had its first continuous run performing at or better than designed operating capacity. The company also announced that the expansion of Plomosas plant from 100tpd to 200tpd is expected to be completed in Q4, 2021.
  • Minera Alamos Inc., announced that it has successfully executed the first planned production blasts at its Santana project in Sonora. After this, Minera Alamos has already begun on subsequent blasting as the Nicho Norte pit is opened up. This first material will be used to test the leaching circuit and commission the carbon plant prior to continuous loading of the heap leach pad as the Company takes a prudent approach to ramping up operations at Santana throughout the remainder of 2021 ahead of more steady state operation in 2022 and beyond.
  • Mag Silver Corp., presented Q1, 2021 production and financial results from its Juanicipio project in Zacatecas. The company processed 36,395 tonnes through the Fresnillo plant with 458 g/t Ag to produce 431.2K Oz Ag, 631 Oz Au, 306.9K Lb Pb, and 445.8K Lb Zn. Mag reported net sales of USD $10.1M, gross profit of USD $8.2M, net income before tax of USD $6.75M, net income after tax of USD $1.44M, resulting in a MAG equity pick up (44%) of USD $632K. The company also reported a CAPEX of USD $440K, and a cash and cash equivalent of USD $92.8K.

ON FINANCING

  • Canasil Resources Inc., closed an oversubscribed non-brokered private placement for gross proceeds of $790K. Gross proceeds will be used to fund continued drill programs on their projects in Durango and Zacatecas, and for working capital purposes (La Esperanza project, Zacatecas).
  • Defiance Silver Corp., announced a brokered private placement for gross proceeds of up to CAD $7.2M. Net proceeds will be used for exploration of their projects as well as for general working capital purposes (San Acacio project, Zacatecas).
  • Sonoro Gold Corp., granted, under its share option plan, incentive stock options to certain directors, officers and consultants to purchase an aggregate of 2M at a price of $0.3 per common share (Cerro Caliche, Sonora).
  • Telson Mining Corporation granted incentive stock options to newly appointed directors totaling 2M. The options will be exercisable at a price of $0.45 per share for a period of five years (Campo Morado, Guerrero).
  • Southern Silver Exploration Corp., announced that its common shares have commenced to trade on the OTCQX under the ticker symbol SSVFF (Cerro Las Minitas, Durango).

ON RESOURCES AND DEVELOPMENT

  • Silvertone Metals Corp., announced the appointment of a mining contractor and commences to access underground workings at its La Frazada mining property in Nayarit. Over 3km of underground workings has been identified as being potentially accessible, work has commenced to clean and making safe adits and drifts which will be geologically mapped and systematically channel sampled. “Gaining access to the underground working, will give valuable geological information and help to confirm historical measured & indicated resource of 4.7M Oz Ag and Inferred resource of 3.86M Oz Ag. The information gained from underground will also assist in targeting diamond drilling to test for extensions of the mineralization.”
  • Azucar Minerals Ltd., recommenced drilling at its El Cobre property in Veracruz. The focus for the current drill program in 2021 will be in the Pedregal, Villa Rica, and Encinal Zones of the property. Initially one hole is planned for each area.
  • Capitan Mining Inc., released results from eight RC drill holes from its 2021 program on the Capitan gold zone in Durango. The most significant drill interception  was encountered in hole 21-CARC-24 which returned 0.34 g/t Au over 42.7m, including 0.56 g(/t Au over 10.7m. These last eight holes drilled at the property, completed the previously announced 6,000m drilling program, which consisted of 28 RC holes. All of the RC holes encountered dominantly oxide gold mineralization. “To date, the Capitan gold zone has been traced for over 1.2km long and up to 450m down-dip and remains open in all directions except to the north.
  • Endeavour Silver Corp., announced drill results from its 2021 drilling program at its Bolañitos property in Guanajuato. The drilling program is focused on expanding the Melladito and Belen orebodies. Significant drill intersections were encountered in hole BN-64 collared on the Melladito HW vein which returned 8.09 g/t Au and 1,044 g/t Ag (1,611 g/t AgEq) over a true width (TW) of 1m, including 14.2 g/t Au and 1,974 g/t Ag (2,966 g/t AgEq) over a TW of 0.26m; and hole BL1.5S-4 collared on the Belen HW vein which returned 4.43 g/t Au and 148 g/t Ag (458 g/t AgEq) over a TW of 2.34m, including 13.22 g/t Au and 129 g/t Ag (1,054 g/t AgEq) over a TW of 0.19m. The company is currently producing from four orebodies at Bolañitos: Plateros, Lucero, San Miguel and Melladito.
  • GoGold Resources Inc., presented results from eight drill holes collared at its Los Ricos North project in Jalisco. The most significant drill intersections were encountered at El Orito area in holes LRGO-21-020 with 2.02 g/t Au, 168 g/t Ag, 0.02% Cu, 0.2% Pb, and 0.1% Zn (331 g/t AgEq) over 11.8m, including 11.63 g/t Au, 832 g/t Ag, 0.05% Cu, 0.5% Pb, and 0.2% Zn (1,729 g/t AgEq) over 1.8m; and hole LRGO-21-027 with 0.1 g/t Au, 57 g/t Ag, 0.24% Cu, 2.2% Pb, and 0.2% Zn (145 g/t AgEq) over 53.4m, including 0.06g/t Au, 150 g/t Ag, 0.47% Cu, 7.1% Pb, and 0.3% Zn (376 g/t AgEq) over 4.2m, plus another deeper interval of  0.04 g/t Au, 44 g/t Ag, 0.04% Cu, 0.4% Pb, and 0.3% Zn (72 g/t AgEq). The holes that the company has drilled to date at El Orito have shown mineralization averaging 30m in width over 700m in strike length and 200m in vertical depth from surface, and is open in all directions.
  • Orex Minerals Inc., Gold contracted SRK Consulting to conduct a Resource Estimation Study on its Coneto property in Durango. The database for Coneto includes 106 diamond drill holes totaling 38,516 metres on 12 vein targets. In addition to this study, a separate Metallurgical Study will be performed on each of the mineralized lodes.
  • Tarachi Gold Corp., completed 37 drill holes at depths ranging from 1.3 to 14.5m using an auger drill and 70cm-long Shelby sample capture tubes at its Magistral Tailings project in Durango. The drilling program was part of the resource estimate and Preliminary Economic Assessment (PEA) being prepared by Ausenco Engineering. The drill samples will be assayed and representative composites prepared as part of the metallurgical test work being overseen by Ausenco Engineering.
  • Silver Tiger Metals Inc., released drill results from its El Tigre project in Sonora. Hole ET-21-208A collared on the Benjamin Vein intersected 0.06 g/t Au, 382 g/t Ag, 0.17% Cu, 0.8% Pb, and 1.2% Zn (463 g/t AgEq) over 14.8m, including 0.06 g/t Au, 615 g/t Ag, 0.27% Cu, 1.2% Pb, and 1.9% Zn (735 g/t AgEq) over 8.8m, including 0.13 g/t Au, 2,451 g/t Ag, 1.12% Cu, 4.4% Pb, and 9.5% Zn ( 3,000 g/t AgEq)  over 1.3m. Hole ET 21-221 collared on the Sooy Vein intersected 4.22 g/t Au, 466 g/t Ag, 0.07% Cu, 0.2% Pb, and 0.2% Zn (799 g/t AgEq) over 1.5m, plus 0.35 g/t Au, 80 g/t Ag,  0.02% Cu, 0.2% Pb, and 0.5% Zn (129 g/t AgEq) over 0.5m, and plus 0.2 g/t Au, 197 g/t Ag, 0.07% Cu, 0.1% Pb, and 0.02% Zn (222 g/t AgEq) over 1.2m.
  • Sailfish Royalty Corp., presented an updated mineral resource estimate on its Gavilanes property in Durango. The estimated underground inferred resources using a cutoff of 100 g/t AgEq,  are 2,883,000 tonnes of 207 g/t Ag, 0.15 g/t Au, 0.12% Cu, 0.6% Pb, and 0.4% Zn to contain 27.15M Lb Zn. 18.9M Oz Ag, 13.7K Oz Au, 7.77M Lb Cu, 37.9M Lb Pb, and 27.2M Lb Zn.

ON DEALS AND CORPORATE ISSUES

  • Fabled Silver Gold Corp., announced proposed spinout of its copper assets into Fabled Copper Corp. Fabled will continue to focus on advancing its drill program on the Santa Maria silver property in Chihuahua.
  • Chesapeake Gold Corp., announced results from its annual general meeting of shareholders (Metates property, Durango).
  • Comet Resources Limited executed a binding agreement with American International Ventures Inc (AIVN) to acquire 100% interest in the La Sorpresa III tenement to extend its Santa Teresa project in Baja California. La Sorpresa is interpreted as the extension of the existence JORC resource at Santa Teresa. Comet has the right to acquire 51% through acquiring 51% of the shares of a newly established Mexican Company (NewCo) in consideration for Comet paying AIVN a total of AUD $600K to be satisfied by issuing AUD $400K in Comet shares and paying AUD $200K in cash at first completion. To obtain the remainder 49% interest, Comet will have to pay AUD $500K to be satisfied by issuing AUD $300K in Comet shares and paying AUD $200K in cash at second completion. In addition to the above, NewCo has to grant to AIVN a 1.5% NSR.
  • Xali Gold Corp., signed a new exploration and production agreement with Ingenieros Mineros, S.A. de C.V. (IMSA) on El Dorado property in Nayarit. Xali has the obligation to pay IMSA USD $30K per year until the commencement of commercial production, maximum of five years; USD $60K per year after five years or upon commencement of production. Once in production, Xali will pay a NSR of 3.5% until payments reach an aggregate amount of USD $350K of which USD $200K is payable in cash and USD $150K in Xali shares; 3% NSR to an aggregate of USD $600K; 2.5% NSR to an aggregate of USD $850K; and 1% NSR through the life of mine/operations. All annual payments are to be credited towards NSR payments.
  • Riverside Resources Inc., announced that it has recovered from Hochschild Mining the Los Cuarentas project in Sonora. Hochschild terminated the earn-in option after spending approximately USD $1.2M, including a 1,500m drilling program in nine holes. Riverside believes there are still untested seven targets with discovery potential.

ON SOCIAL RESPONSIBILITY

  • Minera San Xavier (New Gold) and the Archdiocese of San Luis Potosí, announced the reopening of the temple of san Pedro Apóstol in Cerro San Pedro, San Luis Potosi. The conservation of the cultural and historical heritage of the place is one of the priorities of the Comprehensive, Inclusive and Participatory Plan for the Closure of Mina, which is why, from the beginning of the extractive activity, implemented a periodic program of topographic measurements to monitor the structural behavior of the building. All the works were coordinated with the Cerro de San Pedro City Council, the Archdiocese of San Luis Potosí and under the strict supervision of the National Institute of Anthropology and History (INAH).
  • The Mining Cluster of Sonora AC announced that it will promote a comprehensive safety and work-family balance in mining. Mining is recognized for working with the highest safety standards and is even below the national average in accident rate according to data from the Mexican Social Security Institute (IMSS) and the Mexican Mining Chamber (CAMIMEX). Mining is an industry that is always in constant training and promotes strategies to generate healthy work environments.

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, rich-silver banded quartz vein in an intermediate –sulphidation epithermal system in a project in Chihuahua, Mexico.  Photo by Miguel A Heredia.

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

Quartz vein displaying boiling texture.

By Miguel A Heredia

During the 18th week of the year (May 3th to May 9th, 2021), at least 39 press releases were announced by companies working in Mexico, with ten communicating production results, ten disclosing deals and corporate issues, eight informing on exploration results, six reporting on resources and development, and five announcing financial rounds.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Benjamin Hill Mining released additional sampling results from its Benjamin Hill property, Tocvan and its partner Colibri reported results of preliminary metallurgical testing from the El Pilar project, Tarachi presented drilling results from three holes collared at its La Dura mine, and Silver Spruce engaged Eagle Mapping to run a LiDAR survey at its Diamante project . In Chihuahua, Kootenay presented results from six holes drilled at its Columba project.  In Sinaloa, Brigadier announced drilling and rock sampling results from its Picachos property. In Durango, Mithril reported that it continues intersecting high-grade mineralization at El Refugio zone, within its Copalquin project.  ON MINING, Argonaut reported Q1, 2021 production and financial results from its Mexican mine operations. Equinox announced consolidated Q1, 2021 production and financial results from all their mine operations, including Los Filos and Mercedes mines in Guerrero and Sonora states respectively. Golden Minerals reported Q1, 2021 production and financial results from its Rodeo mine in Durango. First Majestic released Q1, 2021 production and financial results from its Mexican mine operations. Gatos Silver announced Q1, 2021 production and financial results from its Los Gatos property in Chihuahua. Great Panther presented Q1, 2021 production and financial results from its Topia and Guanajuato mines. McEwen reported the production of 1,300 Oz AuEq (GEOs) from residual leaching at El Gallo mine in Sinaloa during the first quarter of 2021. Mexus announced a successful blast at its Santa Elena mine in Sonora to produce approximately 10-15K tonnes of mineralized material. Santacruz reported consolidated 2020 full year production and financial results from its Mexican operations.  Sierra Metals announced Q1, 2021 production results from its Bolivar and Cusi mines in Chihuahua. ON FINANCING, Advance Gold granted stock options to its Directors, key employees, and consultants entitling them to purchase, in total, up to 1.8M options over a five year term (Tabasquena project, Zacatecas). Capitan Mining closed a non-brokered private placement for gross proceeds of CAD $3.2M (Peñoles property, Durango). GoGold closed a bought deal offering of 10M common shares for gross proceeds of CAD $25M (Los Ricos property, Jalisco). Heliostar closed a brokered private placement for gross proceeds of $5.6M (Cumaro project, Sonora). Telson informed that it has received the initial USD $2M proceeds from the total USD $5M silver stream agreement with Empress Royalty (Tahuehueto project, Durango). ON RESOURCES AND DEVELOPMENT, Endeavour intersected high-grade silver-gold mineralization at the Guanacevi mine in Durango. Zacatecas Silver announced it will commence a 10,000m drilling program at its Panuco silver project in Zacatecas, once it received the final drill permit. Golden Tag identified mineralized skarn shoots 265m above the current Fernandez Zone resource envelope at its San Diego property in Durango. GR Silver reported results from its ongoing drilling program at its Plomosas project in Sinaloa. VanGold provided initial results from its ongoing diamond drill program at its El Pinguico project in Guanajuato. Silver Viper released a maiden Au-Ag mineral resource estimate at its la Virginia project in Sonora.   ON DEALS AND CORPORATE ISSUES, Advance Gold appointed a new member to its Board of Directors (Tabasquena property, Zacatecas). Equinox announced results from its annual general meeting of shareholders (Los Filos mine, Guerrero). Great Panther announced the nomination of two new directors for election to its Board of Directors at its annual general meeting to be held on June 9, 2021 (Topia mine, Durango).  One World Lithium announced the engagement of an European consultant that may include individual introduction and corporate presentations (Salar del Diablo project, Baja California). Colibri signed a definitive deal with Silver Spruce on Diamante Gold and Silver project in Sonora.   GR Silver made the final option payment to SSR Mining to close the acquisition of 100% interest of San Marcial Silver project in Sinaloa. Magna Gold announced that it has made the final payment for the acquisition of its San Francisco mine in Sonora. Oroco entered into an agreement to increase its interest on Santo Tomas property in Sinaloa. Orogen provided an update about the royalty on the Ermitaño property in Sonora. Chinas’ Ganfeng Lithium said it has offered to buy the shares it does not already own in Mexico-focused Bacanora Lithium for up to 190M pounds (USD $264.5M).  ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Benjamin Hill Mining Corp., released additional sampling results from its Benjamin Hill property, in Sonora state, which comprises Sonora Gold and Sonora Copper concessions. A total of 447 chip/channel samples were collected during March and April, 2021 returning encouraging results with multiple samples ranging from 4 to 8 g/t Au, with a peak of 31.4 g/t Au.  The company has extended the mineralized structure for over 500m to the north-west, increasing the length of the mineralized structure now to 2,400m. “Fifty-nine samples returned gold values over 2 g/t Au with eight samples ranging from 7.5 g/t Au to 31.4 g/t Au. Nine samples taken from the Caracahui vein returned copper values over 1.0% with three samples above 2% and the best sample returning an impressive 8.3% Cu”. Geologists were also able to identify a large area of disseminated gold ranging from 350m to 600m in width. The company is planning to commence a drill testing program. It has already applied for drill permits and expects to receive permits within the next several weeks.
  • Tocvan Ventures Corp., and its partner Colibri Resource Corporation reported results of preliminary metallurgical testing from the El Pilar project in Sonora, which includes Au recoveries of 91.6% and 90.6% at a retention time of 48 hours from two composite samples collected from drill hole JES-20-32.
  • Tarachi Gold Corp., presented drilling results from three underground holes collared at its La Dura mine in Sonora. Significant drill intercepts were encountered in hole JAB-21-009 with 6.91 g/t Au over 63.4m, including 17.42 g/t Au over 9.3m, plus another interval with 17.37 g/t Au over 13.9m, including 33.66 g/t Au over 5.6m; and hole JAB-21-10 with 1.79 g/t Au over 42m. These drill results confirm the continuation of gold mineralization down-dip towards the east. “Based on the drilling and mapping done to date, gold is hosted in a 10-20m thick panel of heavily silicified rhyodacite striking roughly north-south, dipping to the east at an approximate angle of 30 and plunging to the south at 25°”.
  • Silver Spruce Resources Inc., engaged Eagle Mapping to run a LiDAR survey at its Diamante project in Sonora. “The LiDAR mapping over the property will provide another value-added 3D element to complement the geological and structural mapping, and enhance the topographic control for the Phase 1 drilling program”.
  • Kootenay Silver Inc., presented results from six holes drilled at its Columba project in Chihuahua. Significant drill intercepts were encountered in hole CDH-21-90 with 503 g/t Ag, 0.1% Pb, and 0.2% Zn over 1.2m, including 889 g/t Ag, 0.2% Pb, and 0.4% Zn over 0.55m, and 185 g/t Ag, 0.1% Pb, and 0.2% Zn over 3.94m, including 245 g/t Ag, 0.1% Pb, and 0.3% Zn over 2.4m, including 365 g/t Ag, 0.2% Pb, and 0.6% Zn over 0.6m; hole CDH-21-89 with 285 g/t Ag, 0.2% Pb, and 0.8% Zn over 6.9m, including 439 g/t Ag, 0.3% Pb, and 1.5% Zn over 0.27m, including 533 g/t Ag, 0.3% Pb, and 1.2% Zn over 0.65m, and other interval of 233 g/t Ag, 0.03% Pb, and 0.4% Zn over 4m, including 411 g/t Ag, 0.03% Pb, and 0.05% Zn over 1m; and hole CDH-21-87 with 200 g/t Ag over 4m, including 559 g/t Ag over 1.09m.
  • Brigadier Gold Limited, announced drilling and rock sampling results from its Picachos property located in Sinaloa. Hole DH-BGR-043 encountered 0.52 g/t Au, 5 g/t Ag, and 0.07% Cu over 14.5m, including 7.63 g/t Au, 11 g/t Ag, and 0.26% Cu over 0.5m. Brigadier has completed 4,538m in 43 holes to date. On the other hand, Brigadier continues mapping and sampling prospects and workings in the entire property. Encouraging results were obtained from El Placer Norte with samples returning 12.79 g/t Au and 8 g/t Ag over 1m wide, and 38.88 g/t Au and 22 g/t Ag over 0.5m. At El Cobre area, located about 650m NW of El Placer Norte area, the rock sampling returned 57 g/t Ag, 2.12% Cu, and 0.12% Pb over a width of 1.7m from the El Cobre Vein; 108 g/t Ag, 3.2% Cu, and 0.5% Pb over a width of 0.5m from El Herrero Vein; and 148 g/t Ag, 0.33% Cu, and 0.26% Pb over a width of 0.7m from the Calzada Vein.
  • Mithril Resources Ltd., reported that it continues intersecting high-grade mineralization at El Refugio zone, within its Copalquin project.  Highlights include hole CDH-63 with  5.32 g/t Au, 105 g/t Ag over 8m, including 29.9 g/t Au and 273 g/t Ag over 1.09m; hole CDH-62 with 4.12 g/t Au and 107 g/t Ag over 4.82m, including 7.94 g/t Au and 211 g/t Ag over 1.6m, plus 4.68 g/t Au and 22 g/t Ag over 2.1m, plus 0.48 g/t Au and 36 g/t Ag over 3.1m; and hole CDH-61 with 0.95 g/t Au and 25 g/t Ag over 7.75m, plus 0.95 g/t Au and 10 g/t Ag over 0.95m, plus 1.44 g/t Au and 76 g/t Ag over 15.77m. The drill results extended the high-grade mineralization 80m down dip and 180m further to the west and up to further 75m down dip. El Refugio continues to grow as a large high-grade Au-Ag target.

ON MINING

  • Argonaut Gold Inc., reported Q1, 2021 production and financial results from its Mexican mine operations. At El Castillo Complex in Durango The company milled 5,274,000 tons of 0.28 g/t Au to produce 29,243 Oz Au and 164,226 Oz Ag (31,175 AuEq Oz (GEOs)). Argonaut reduced the cash cost per Oz Au sold to USD $916. At La Colorada in Sonora , Argonaut mined 1,227,000 tonnes of 0.54 g/t Au to produce 15,894 Oz Au and 52,912 Oz Ag (16,516 GEOs). It reduced the cash cost per Oz Au sold to USD $765. The company also announced the discovery of  high-grade gold veins below  the El Crestón open pit which returned 44.6 g/t Au and 275 g/t Ag over 21.3m, including 98.9 g/t Au and 30 g/t Ag over 12.2m.
  • Equinox Gold Corp., announced consolidated Q1, 2021 production and financial results from all their mine operations, including Los Filos and Mercedes mines in Guerrero and Sonora states respectively. The company produced 129,233 Oz Au and sold 128,555 Oz Au at cash and AISC of USD $1,141 and USD $1,482 per Oz Au respectively. The company reported revenues of USD $229.7M, net income of USD $50.3M, adjusted EBITDA of USD $60.5M, cash and cash equivalents of USD $317.5M, net debt of USD $2290.8M, and operating cash flow before changes in non-cash working capital of USD $62M. Equinox also provided a 2021 production guidance of 600K to 665K Oz Au, of which 170K-190K will be produced at its Los Filos mine in Guerrero and 30K to 35K Oz Au, will be produced at its Mercedes mine in Sonora.
  • Golden Minerals Company reported Q1, 2021 production and financial results from its Rodeo mine in Durango. It produced 1,559 Oz AuEq in doré and sold 1,054 Oz AuEq. Golden reported revenue of USD $1.8M, cost of metals sold of USD $1.5M, and net operating margin of USD $0.2M.The company also reported cash and cash equivalents balance of USD $ 8M as of March 31, 2021, and a net loss of USD $3.2M.
  • First Majestic Silver Corp., released Q1, 2021 production and financial results from its Mexican mine operations. The table below shows figures by mine:

First Majestic reported revenues of USD $100.5M, mine operating earnings of USD $28.1M, net earnings of USD $1.9M, and a strong working capital of USD $232.8M, including USD $65M of undrawn revolving credit facility.

  • Gatos Silver Inc., announced Q1, 2021 production and financial results from its Los Gatos property in Chihuahua. Gatos mined 209,832 tonnes to produce 6,312 tonnes of Pb concentrates with grades of 6,314 g/t Ag, 5.6 g/t Au, 54.8% Pb, and 12.9% Zn, and 7,036 tonnes of Zn concentrate of 757 g/t Ag, 0.6 g/t Au, 1.4% Pb, and 55.2% Zn, to recover 1.5M Oz Ag, 1.1K Oz Au, 7.6M Lb Pb, and 8.6M Lb Zn, at an AISC cost, net of by-product credits of $19.76 per Oz Ag, which includes approximately $2.50 per Oz Ag related to non-recurring costs attributed to COVID-19 and lower produced ounces related to the power outage experienced earlier in the year. Gatos reported sales for $46.3M, operating expenses of $35.5M, other expenses of $3.9M, and net income of $6.9M.
  • Great Panther Mining Limited presented Q1, 2021 production and financial results from its Topia and Guanajuato mines. At Guanajuato mine complex, Guanajuato, it mined 40,321 tonnes and milled 39,665 tonnes of 124 g/t Ag and 1.53 g/t Au to produce 135,737 Oz Ag and 1,689 Oz Au (279,306 Oz AgEq) at cash and AISC of $22.57 and $33.42 per payable Oz Ag respectively. At Topia, Durango,  the company  mined 16,654 tonnes and milled 19,004 tonnes of 398 g/t Ag, 0.87 g/t Au, 2.93% Pb, and 3.6% Zn to produce 224,333 Oz Ag, 293 Oz Au, 1.18M Lb Pb, and 1.39M Lb Zn (363,318 Oz AgEq) at cash and AISC of $15.88 and $18.71 per payable Oz Ag respectively.
  • McEwen Mining Inc., reported the production of 1,300 Oz AuEq (GEOs) from residual leaching at El Gallo mine in Sinaloa during the first quarter of 2021.  Operations were disrupted for three weeks by a blockade of the mine entrance by members of the local community, which has been resolved.
  • Mexus Gold US announced a successful blast in the Quartz 2 vein area at its Santa Elena mine in Sonora to produce approximately 10-15K tonnes of mineralized material. The company believes this material will show between 2 to 4 g/t Au average.
  • Santacruz Silver Mining ltd., reported consolidated 2020 full year production and financial results from its Mexican operations. The company processed 201,585 tonnes to produce 1M Oz AgEq at cash and AISC of $23.04 and $24.41 per Oz AgEq respectively. The company sold 662.5K Oz AgEq. The company recorded revenues of $33,097 and a net loss of $1,493.
  • Sierra Metals Inc., announced Q1, 2021 production results from its Bolivar and Cusi mines in Chihuahua. At Bolivar mine, the company processed 371,608 tonnes of 0.19 g/t Au, 20 g/t Ag, and 0.77% Cu to produce 1,591 Oz Au, 197K Oz Ag, and 5.2M Lb Cu 7.28M Lb CuEq), at a cash and AISC of USD $1.58 and USD $2.91 per Lb CuEq respectively. At Cusi mine, Sierra Metals processed 76,602 tonnes of 0.16 g/t Au, 157 g/t Ag, and 0.2% Pb to produce 155 Oz Au, 313K Oz Ag, and 268K Lb Pb (334K Oz AgEq), at cash and AISC of USD $18.72 and USD $30.28 per Oz AgEq respectively.

ON FINANCING

  • Advance Gold Corp., granted stock options to its Directors, key employees, and consultants entitling them to purchase, in total, up to 1.8M options over a five year term expiring May 2025 at an exercise price of $0.08 per share.  (Tabasquena property, Zacatecas).
  • Capitan Mining Inc., closed a non-brokered private placement for gross proceeds of CAD $3.2M. Gross proceeds will be used to advance exploration and corporate development activities at its Peñoles property in Durango.
  • GoGold Resources Inc., closed a bought deal offering of 10M common shares at a price of CAD $2.50 per common share for gross proceeds of CAD $25M. Underwriters of the offering exercised their overallotment option in full for an additional 1.5M common shares for gross proceeds of approximately CAD $3.75M.  The net proceeds of the offering will be used to support the continued advancement of the Company’s Los Ricos North and South projects in Jalisco and for general corporate purposes.
  • Heliostar Metals Limited closed a brokered private placement for gross proceeds of $5.6M. Part of the gross proceeds will be used to advance Cumaro, Lola and Oso Negro projects in Sonora, as well as for working capital and general corporate purposes. 
  • Telson Mining Corporation informed that it has received the initial USD $2M proceeds from the total USD $5M silver stream agreement with Empress Royalty for its Tahuehueto project in Durango. The stream is part of a USD $25M full financing solution being provided by Empress, Accendo Bank and Endeavour Financial.

ON RESOURCES AND DEVELOPMENT

  • Endeavour Silver Corp., intersected high-grade silver-gold mineralization to expand the El Curso orebody at its Guanacevi mine in Durango. Significant drill interceptions were encountered in hole UCM-48 with 3.27 g/t Au and   2,753 g/t Ag (2,982 g/t AgEq) over a true width (TW) of 4.1m, including 0.6 g/t Au and 18,752 g/t Ag (18,794 g/t AgEq) over a TW of 0.3m; and hole UCM-50 with 4.29 g/t Au and 3,464 g/t Ag (3,764 g/t AgEq)  over a TW of 2.6m, including 25.7 g/t Au and 19,390 g/t Ag (21,189 g/t AgEq) over a TW of 0.3m. The Company is currently producing from three orebodies at Guanacevi: Milache, El Curso and SCS.  Exploration drilling is ongoing at El Curso and SCS.
  • Zacatecas Silver Corp., announced it will commence a 10,000m drilling program at its Panuco silver project in Zacatecas, once it received the final drill permit. The plan is to start drilling at its Panuco silver deposit and San Gill Breccia Zone by securing an access agreement with the Ejido “Panuco”. The Panuco Silver Deposit has an historic inferred mineral resource of 19,472,901 Oz AgEq (cut-off 100 g/t AgEq) from 3,954,729 tonnes at 153.2 g/t AgEq (136 g/t Ag, 0.14 g/t Au, 0.012% Pb, and 0.11% Zn). “San Gill Breccia Zone has a strike length of approximately 800m, is up to 40 m wide, and is most likely vertical.  The north-south orientation of the breccia is highly significant as gold-rich epithermal veins within the district are generally oriented north-south”.
  • Golden Tag Resources Ltd., identified mineralized skarn shoots 265m above the current Fernandez Zone resource envelope at its San Diego property in Durango.   Significant drill assays were encountered in hole 21-54 with 0.09 g/t Au, 27 g/t Ag, 0.7% Pb, 0.6% Zn, and 0.03% Cu (92 g/t AgEq) over 99.53m, including 0.25 g/t Au, 81 g/t Ag, 2.1% Pb, 2.2% Zn, and 0.1% Cu (286 g/t AgEq) over 18.43m, and others mineralized intervals of  0.12 g/t Au, 109 g/t Ag, 2.5% Pb, 1.7% Zn, and 0.04% Cu (287 g/t AgEq) over 1.64m and 0.5 g/t Au, 15 g/t Ag, 0.3% Pb, 0.3% Zn, and 0.01% Cu (83 g/t AgEq) over 12.35m; and hole 21-55 with 0.08 g/t Au, 37 g/t Ag, 0.3% Pb, 0.6% Zn, and 0.02% Cu (85 g/t AgEq) over 25.55m, including 0.04 g/t Au, 44 g/t Ag, 0.4% Pb, 0.8% Zn, and 0.02% Cu (100 g/t AgEq) over 10.9m, including 0.14 g/t Au, 45 g/t Ag, 0.3% Pb, 0.6% Zn, and 0.02% Cu (94 g/t AgEq) over 9.10m. This hole also intersected 0.96 g/t Au, 59 g/t Ag, 0.6% Pb, 0.4% Zn, and 0.03% Cu (183 g/t AgEq) over 0.5m, 0.2 g/t Au, 50 g/t Ag, 1% Pb, 0.5% Zn, and 0.02% Cu (125 g/t AgEq) over 0.79m, and 0.09 g/t Au, 83 g/t Ag, 0.5% Pb, 0.4% Zn, and 0.04% Cu (130 g/t AgEq) over 0.6m. “Drill results, in conjunction with results from previous drilling, have identified the existence of potential shoots of skarn mineralization commencing approximately 265 m above the Fernandez Zone, which could connect or be parallel to the western edge of Fernandez”.
  • GR Silver Mining Ltd., reported results from its ongoing drilling program at the San Juan Vein within its Plomosas project in Sinaloa. Significant drill intercepts were encountered in hole  SJS21-04 with 242 g/t Ag, 0.31 g/t Au, 0.4% Pb, and 0.8% Zn (310 g/t AgEq) over a true width (TW) of 10.5m, including 954 g/t Ag, 1.29 g/t Au, 1.2% Pb, 1.6% Zn, and 0.1% Cu (1,177 g/t AgEq) over a TW of 2m, including 1,184 g/t Ag, 2.27 g/t Au, 1.3% Pb, and 0.9% Zn (1,486 g/t AgEq) over a TW of 1m; hole LRD-52 with 311 g/t Ag, 0.08 g/t Au, 0.8% Pb, and 0.2% Zn (354 g/t AgEq) over a TW of 3.9m, including 781 g/t Ag, 0.21 g/t Au, 1.5% Pb, and 0.3% Zn (863 g/t AgEq) over a TW of 1m; and hole LRD-37 with 62 g/t Ag, 0.31 g/t Au, 0.6% Pb, and 0.4% Zn (126 g/t AgEq) over a TW of 20.2m, including 154 g/t Ag, 0.96 g/t Au, 1.2% Pb, and 0.4% Zn (308 g/t AgEq) over a TW of 5.7m. “The high-grade silver mineralization encountered in the San Juan Vein confirms continuity of the mineralization close to surface, 100m to the north along strike, and also correlates with previously identified high-grade mineralization at depth”.
  • VanGold Mining Corp., provided initial results from its ongoing diamond drill program at its El Pinguico project in Guanajuato.  Eight holes were drilled of which the two first holes were collared outside of the mine in the patio of the portal of adit 4. These holes were not intended as traditional exploration holes. Holes P21-01 and P21-02 were collared to test the purchased rig but encountered noticeable visible vein material, which the company now interprets to be extensions of the San Jose vein. A third hole, P21-03, was collared to test the area for further vein extensions, and intersected several intervals of significant gold and silver values, including 0.38 g/t Au and 88 g/t Ag (116 g/t AgEq) over 4.05m, including 1.5 g/t Au and 122 g/t Ag (242 g/t AgEq) over 1m, plus an additional higher-grade interval of  2.11 g/t Au and 505 g/t Ag (674 g/t AgEq) over 0.55m. The rig was moved into El Pinguico mine where the company drilled holes P21-05 to P21-08. Holes P21-05 and P21-06 intercepted   long sections of alteration crossing both San Jose and El Pinguico veins but only moderate widths of moderate Ag-Au values were encountered.  Hole P21-07 encountered quartz and carbonate material of an unknown vein and at the San Jose contact the hole intercepted broken, unconsolidated material (approximately 35% recovery) and a void causing to abandon the hole. Hole P21-08 encountered numerous intervals of good grade material, being the most significant one returning 8.81 g/t Au and 208 g/t Ag (913 g/t AgEq) over 0.75m. Four additional holes (P21-09 to P21-12) were drilled from San Jose Cross Cut #1 but assay results are pending.
  • Silver Viper Minerals Corp., released a maiden Au-Ag mineral resource estimate at its la Virginia project in Sonora.   El Rubi Zone contains an indicated resource of 6,179,000 tonnes of 0.78 g/t Au and 35 g/t Ag for 154.3K Oz Au and 6.93M Oz Ag, and inferred resources of 3,255,000 tonnes of 0.9 g/t Au and 36 g/t Ag for 94.1K Oz Au and 3.75M Oz Ag in open pit category. Virginia, El Oriental, Las Huatas and Las Huatas South add and inferred resource of 6,622,000 tonnes of 0.71 g/t Au and 41 g/t Ag for 152.2K Oz Au and 8.74M Oz Ag in open pit category, and 277K tonnes of 1.92 g/t Au and 62 g/t Ag for an additional 14K Oz Au and 451.5K Oz Ag in the underground category. Gold and Silver Equivalents for Indicated resource equal 253,286 Oz AuEq or 17,730,000 Oz AgEq. Gold and Silver Equivalents for Inferred resource equal 445,176 Oz AuEq or 31,162,300 Oz AgEq.

ON DEALS AND CORPORATE ISSUES

  • Advance Gold Corp., appointed a new member to its Board of Directors (Tabasquena property, Zacatecas).
  • Equinox Gold Corp., announced results from its annual general meeting of shareholders (Los Filos mine, Guerrero).
  • Great Panther Mining Limited announced the nomination of two new directors for election to its Board of Directors at its annual general meeting to be held on June 9, 2021 (Topia mine, Durango). 
  • One World Lithium Inc., announced the engagement of an European consultant that may include individual introduction and corporate presentations. The Agreement is for one year to May 04, 2022. The Consultant will be paid a monthly fee of 5,000 Euros   (CAD $7,400) and an option to purchase up to 800K common shares of the company at an exercise price of $0.11 per common share, being the closing price of the Company’s common shares on the Canadian Stock Exchange on May 4, 2021. The stock options are exercisable on or before May 04, 2023 and will be vested as to 200K options every two months from June 01 to December 01, 2021 (Salar del Diablo project, Baja California).
  • Colibri Resources Corporation signed a definitive deal with Silver Spruce on Diamante Gold and Silver project in Sonora.  Silver Spruce will have an option to acquire up to 50% of the property. To acquire 25% of the property, Silver Spruce has to pay USD $75K in cash to Colibri. Yaque and Silver Spruce will each then hold a 25% interest and manage the project as equal partners. To earn its initial 50% of the Diamante project from the original vendor, Yaque (together with Silver Spruce)agree to jointly design, permit and drill a minimum of 2,000 metres on the property within 24 months from the Execution Date of Yaque’s final agreement with the original Vendor.
  • GR Silver Mining Ltd., made the final option payment to SSR Mining to close the acquisition of 100% interest of San Marcial Silver project in Sinaloa. GR paid CAD $2.5M and issued 1.5M common shares to SSR.
  • Magna Gold Corp., announced that it has made the final payment of USD $5M to Argonaut Gold Inc., for the acquisition of its San Francisco mine in Sonora, and provided a promissory note for the remaining balance of USD $2,675,000 to be paid in four monthly installments commencing July, 6, 2021 and ending October 6, 2021. The promissory note bears uncompounded interest at a rate of 5% per annum.
  • Oroco Resource Corp., entered into an agreement to increase its interest on Santo Tomas property in Sinaloa.  Oroco will acquire 25 shares of Xochipala Gold SA de CV for USD $1.5M.
  • Orogen Royalties Inc., provided an update about the royalty on the Ermitaño property in Sonora, operated by its JV partner First Majestic Silver Corp. Orogen holds a 2% NSR of an indicated resources of 355K Oz Au and 5M Oz Ag, and inferred resources of 522K Oz Au and 11M Oz Ag.
  • Ganfeng Lithium Co., Ltd., said it has offered to buy the shares it does not already own in Mexico-focused Bacanora Lithium plc for up to 190M pounds (USD $264.5M). Ganfeng, which in February announced a plan to raise its stake in Bacanora from 17.41% to 28.88%, will acquire the remaining shares in the company for $67.5 pounds a share. The increase in Ganfeng’s stake to 28.88% is expected to complete shortly.

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, a quartz vein with stibnite displaying boiling texture in a low-sulphidation epithermal system in a prospect in San Luis Potosi, Mexico.  Photo by Miguel A Heredia.

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

By Jorge Cirett

During the 15th week of the year (April 12th to April 18th, 2021), as a sign of the strong current activity, at least 43 press releases were announced by companies working in Mexico. To note, ten companies posted exploration advances on their properties, seven presented mining related news, six posted on financing or share options (including C$2.35 M, $3 M, C$14.1 M, C$5.6 M and $25 M), eight more on project development or resource definition and three posted on corporate issues. ON MEXICO ISSUES, Francisco Quiroga, the ex-secretary of Mining has been appointed ambassador in Germany. The Sonora Mining Cluster has two new female counselors. Napoleon Gomez Urrutia and its SNTMMS Union have been condemned to pay US$54 M to some of its affiliates. A new Coordination has been created in the Economy Secretariat to promote mining. The CTM Union opposes the outsourcing reform that would decrease the participation of workers in the profits of mining companies. ON EXPLORATION, In Sonora, Silver Spruce signed a LOI on the Diamante 1 and Diamante 2 projects; Ridgestone announced its exploration plan for the Rebeico property; Tocvan Ventures commenced phase II RC drilling at Pilar; Carlyle Commodities released good drilling results from Cecilia; Orogen informed its Lola and Sarape properties are being drilled by partners; Canuc Resources released information on the first drill hole on the present campaign at its San Javier Au-Ag project. In Chihuahua, Monarca Minerals signed a surface access agreement for its San Jose project; Kootenay Silver updated on drilling of its Columba project. In Sinaloa, Viszla Silver released drilling results from the Napoleon zone at its Panuco project. In San Luis Potosi and Zacatecas Advance Gold released results from auger sampling at several salars. ON MINING, Magna Gold, Fortuna Silver Mines, Sierra Metals, Excellon and First Majestic Silver released Q1 2021 production results. Consolidated Zinc announced the commencement of concentrate production from the recently refurbished plant at Plomosas in Chihuahua. ON FINANCING, Colibri Resources, Sonoro Gold, Santacruz Silver Mining, Heliostar Metals and Candelaria Mining released news on financing (with C$2.35 M, $3 M; $14.1 M, C$4 M and up to $25 M respectively). Defiance Silver completed its uplisting to the OTCQX Best Market ON RESOURCES AND DEVELOPMENT, Equinox Gold commenced the development of the Bermejal underground mine in Guerrero. Xali Gold submitted permit applications for the Mexico Mines Tailings project in El Oro, Estado de Mexico. Gatos Silver presented good drilling results from both extensions of the Cerro Los Gatos deposit in Chihuahua. Fabled Silver Gold released results from drilling at Santa Maria, Chihuahua. SilverCrest Metals released high-grade drilling results from several veins at Las Chispas, Sonora. Almaden Minerals is conducting an induced polarization survey at the Ixtaca deposit in Puebla. GoGold Resources released drilling results from El Favor zone at its Los Ricos North project in Jalisco. Golden Tag Resources released results from drilling at its San Diego property in Durango.   ON DEALS AND CORPORATE ISSUES, VanGold Mining closed with Endeavour Silver the acquisition of the El Cubo mine and mill complex in Guanajuato. Silver Spruce Resources signed a LOI with Colibri Resource on the Diamante 1 and Diamante 2 properties in Sonora. Empress Royalty executed a $5 M Silver Stream agreement with Telson Mining. ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • Francisco Quiroga Fernández, Mining ex-subsecretary was appointed ambassador of Mexico in Germany. Rare in the present administration, he’s a competent professional with experience in the private industry, and more than capable to develop and strengthen political and economic ties between the two countries.  
  • The Sonora Mining Cluster named Silvia Álvarez and Maria López Rosas as new counselors to the organism.
  • The Sindicato Nacional de Trabajadores Mineros, Metalúrgicos y Similares de La República Mexicana (a strong Mining Union) and its leader Napoleón Gómez Urrutia have lost a legal law suit and have been condemned by the Junta Federal de Conciliación y Arbitraje to pay US$54 M. The Union received these funds from the sale of the Cananea mine 15 years ago, and was supposed to deliver that money to the at the time workers of the company in charge. The union failed to deliver the funds to the miners.
  • The Mexican president ordered by decree the creation of the Coordination of Extractive Activities on the Economy Secretariat. Said unit is to coordinate the mining activities of the State and actions to promote national and foreign investments in mining, among other activities.
  • The CTM Union (Confederación de Trabajadores de México) opposes the reform on outsourcing that would lower the amount the miners receive as participation on the company’s annual profits.  

ON EXPLORATION

  • Silver Spruce Resources Inc. signed a letter of intention (LOI) on two properties in Sonora, Diamante 1 and Diamante 2 covering 1,057 hectares. Historical assays from samples in the Diamante 1 and Diamante 2 properties, which display epithermal intermediate sulfidation mineralization have returned up to 39.8 gpt Au, 3,460 gpt Ag, 7.3% Pb, 5.6% Zn. Diamante 1 has already six main targets, including the La Prieta-El Aguaje vein system, which runs for 2,000 m averaging 1 m in width. At Diamante 2 The Calton area displays two vein 900 m and 1,100 m in length, ranging from 0.30 m to 1.70 m in width. The El Cumbro-Mezquite Raizudo veins follow a structural trend 900 m long, displaying an average width of 1 meter.
  • Advance Gold Corp. released results from auger drilling sampling at all the salars it recently acquired in Zacatecas and San Luis Potosí. The 0.5 m to 1 m of depth samples returned highlighted results of up to 650 ppm boron (B), 1.91% Potassium (K) and 620 ppm Lithium (Li). The average grade of the samples was 247 ppm B, 1.17% K and 215 ppm Li.
  • Monarca Minerals Inc. executed and ratified by a Notary Public the surface access agreement with both the Ejido and Colonia on its San Jose silver project in Chihuahua. The company is now to apply for the environmental permit that will allow it to conduct its planned 5,000 m drilling campaign.
  • Ridgestone Mining Inc. announced an exploration plan for its 3,459 hectares Rebeico project in Sonora. The current phase will comprise geologic mapping, sampling and prospecting, with focus on the New Year zone, the Santa Elena outcrop and El Cobre mine.
  • Tocvan Ventures Corp. announced the start of phase II of its drilling program at the Pilar project in Sonora. The two-stage 4,000 m reverse circulation (RC) drill program will focus first on the “definition and expansion of the Main Zone, which during Phase I returned 94.6-meters at 1.6 g/t Au including 9.2m at 10.8 g/t Au and 38 g/t Ag”, and then to test the new targets across the property.
  • Kootenay Silver Inc. reported it has completed 12 core drill holes totalling 1,800 m as part of its 5,000 m campaign at its Columba project in Chihuahua. Kootenay has tested the F vein and is now testing an area east of the J-Z zone.
  • Carlyle Commodities Corp. released the first batch of drill results from the Cecilia project in Sonora. The program consisted of seven holes, of which results have been received for five. The best intercept was 24.2 m @ 1.51 gpt Au. Other core-length highlighted intervals comprise 1.30 m @ 0.69 gpt Au; 5.95 m @ 0.20 gpt Au, 3.10 m @ 0.52 gpt Au; 9.45 m @ 0.23 gpt Au; 1.00 m @ 0.55 gpt Au; 3.45 m @ 0.35 gpt Au; 4.30 m @ 0.29 gpt Au; 6.10 m @ 0.43 gpt Au; 3.00 m @ 0.87 gpt Au. “The first drill program from Carlyle and Riverside was focused on targeting the hydrothermal system identified at two principal elevations: 2,200 m and 1,900 m, respectively corresponding to the San Jose Target and the North Breccia Target…… to test the continuity of the mineralized structures at shallow depth”.  
  • Orogen Royalties Inc. announced the commencement of drilling programs on two of its properties in Sonora. At La Lola, partner Heliostar Metals Ltd. has initiated a 1,500 m drilling program. At the 57.8 square km Sarape project, Orogen and partner Hochschild PLC commenced a planned 3,000 m program. Eight holes will be drilled on 2.5 km of the Sarape vein. “In 2019, nine holes drilled within a 380-metre-long segment of the vein defined a structural dilation zone at 100-350 metres depth (Figure 2). In this zone the vein thickens to 23.6 metres in width..…. A deeper horizon will also be drilled to identify if the grade of the vein improves with depth”.
  • Canuc Resources Corp. informed on drilling advance at its San Javier Ag-Au project in Sonora. The first hole of a planned 6,000 m program was ended at 89.5 m in a fault zone. It intersected brecciated sedimentary rocks with stockwork veining and three intervals of massive magnetite breccia. “The 20-hole program is designed to test at least 4 magnetic features that underlie areas where a 2020 mapping and rock sampling program identified silver, gold and copper mineralization. At surface, the host rocks for three of these features are found to be magnetite breccia”. The program is focused on magnetic anomalies identified by a previous survey.
  • Viszla Silver Corp. released drilling results from step out drilling at the southern extension of the Napoleon prospect at its Panuco project in Sinaloa. The Napoleon vein has been mapped for more than 2.5 km and has four rigs drilling at the time. Highlighted true width intercepts comprise 4.46 m @ 890 gpt Ag, 19.99 gpt Au, 0.7% Pb, 1.8% Zn (including 0.92 m @ 3,804 gpt Ag, 91.91 gpt Au, 1.5% Pb, 3.5% Zn); 1.92 m @ 105.9 gpt Ag, 7.28 gpt Au, 0.7% Pb, 2.9% Zn (including 1.45 m @ 131 gpt Ag, 9.39 gpt Au, 0.8% Pb, 3.1% Zn)

ON MINING

  • Fortuna Silver Mines Inc. released production results for the first quarter 2021, including figures from its Mexican operations. At San José, in Oaxaca, 259.8 K tonnes @ 217 gpt Ag, 1.36 gpt Au were milled, recovering 90.8% Ag, 90.5% Au to produce 1.65 M Oz Ag, 10,301 Oz Au.
  • Consolidated Zinc Ltd. announced the 2021 zinc concentrate “benchmark treatment charge (TC) has been agreed between the major miners and smelters at US$159.00/t of concentrate, a reduction of 47% from last year’s benchmark treatment charge of US$299.75/t”. Treatment charges in 2020 represented 33% of total operating costs (before by-product credits) being the single largest operating cost (Plomosas, Chihuahua).
  • Magna Gold Corp. informed production levels have benefited from the accelerated stripping program, resulting in month to month growth in gold production, with 3,085 ounces in January, 2,670 ounces in February and 4,030 ounces in March. Magna anticipates the mine will return to full scale commercial production by June of this year, with 2021 guidance in the range of 55,000 to 65,000 Oz Au. During the Q1 2021, 619 K tonnes were mined @ 0.34 gpt Au, with 5.2 M tonnes of waste moved (8.40 strip ratio) to produce 9,785 Oz Au, 8.1 K Oz Ag.
  • Sierra Metals Inc. reported first quarter 2021 production reports, including figures from its Mexican properties. At Bolivar, in Chihuahua, 371.6 K tonnes were processed @ 0.77% Cu, 19.7 gpt Ag, 0.19 gpt Au, recovering 82.8% Cu, 83.6% Ag, 69.6% Au, to produce 5.2 M Lb Cu, 197 K Oz Ag, 1,591 Oz Au (7.3 M Lb CuEq). At Cusi, also in Chihuahua, 76.6 K tonnes were processed @ 15.2 gpt Ag, 0.16 gpt Au, 0.22% Pb, recovering 80.9% Ag, 39.6% Au, 81.5% Pb, to produce 313 K Oz Ag, 155 Oz Au, 298 K Lb Pb (334 K AgEq Oz Ag).
  • Consolidated Zinc Ltd. announced the first concentrate from the newly refurbished plant at its Plomosas property in Chihuahua has been produced.
  • Excellon Resources Inc. released Q1 2021 production results from the Platosa mine in Durango. At the site 21,212 tonnes were mined, 21,764 tonnes were milled @ 524 gpt Ag, 5.35% Pb, 6.73% Zn, recovering 89.7% Ag, 81.8% Pb, 74.7% Zn to produce 328.7 K Oz Ag, 2.1 M Lb Pb, 2.4 M Lb Zn, or 516.7 K Oz AgEq.
  • First Majestic Silver Corp. produced during the Q1 2021 2.9 M Oz Ag, 23,873 Oz Au, or 4.5 M Oz AgEq from its three mines in Mexico: San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila. The company completed 39,552 m in exploration drilling during the quarter, with 10 rigs at San Dimas, seven rigs at Santa Elena and two rigs at La Encantada.

ON FINANCING

  • Colibri Resource Corp. has closed a non-brokered private placement for CAD$2.35 M in gross profits. (Evelyn, Sonora).
  • Sonoro Gold Corp. has increased its non-brokered private placement to raise an aggregate of $3 M thorough the exercise of over allotment options (Cerro Caliche, Sonora).
  • Santacruz Silver Mining Ltd. closed its non-brokered private placement offering, for gross proceeds of CDN$14.1 M (Carrizales, Hidalgo).
  • Defiance Silver Corp. successfully completed an uplisting to the OTCQX Best Market (San Acacio, Zacatecas).
  • Heliostar Metals Ltd. is increasing the size of its C$4 M marketed private placement to raise up to C$5.6 M (La Lola, Sonora).
  • Candelaria Mining Corp. intends to raise up to $25 M to fund exploration activities at the Caballo Blanco district in Veracruz, and the Pinos project in Zacatecas.

ON RESOURCES AND DEVELOPMENT

  • Equinox Gold Corp. is commencing development of the Bermejal underground mine at its Los Filos project in Guerrero.
  • Xali Gold Corp. submitted permit applications for the Mexico Mines Tailings project in El Oro, Estado de México. The permits are to allow both the transportation and re-processing of the tailings at a new 25 hectares plant site located 5 Km from the current location. Xali’s is to pay the El Oro municipality an 8%  net profit interest (NPI). The project has an inferred resource of 1.27 M Tonnes grading 2.94 Au g/t, 75.12 Ag g/t, containing 119,900 Oz Au and 3.06 M Oz Ag.
  • Gatos Silver Inc. reported drilling results of delineation drilling at Cerro Los Gatos in Chihuahua. The program has demonstrated continuity in both the southeast and northwest projections of the current reserve. Highlighted true width drill results include: 9.5 m @ 0.11 gpt Au, 51 gpt Ag, 2.1% Pb, 3.1% Zn; 3.4 m @ 0.12 gpt Au, 122 gpt Ag, 5.0% Pb, 9.8% Zn, 0.2% Cu; 5.4 m @ 0.25 gpt Au, 121 gpt Ag, 1.5% Pb, 2.9% Zn; 7.2 m @ 0.14 gpt Au, 106 gpt Ag, 3.5% Pb, 3.4% Zn, 0.1% Cu; 2.6 m @ 0.21 gpt Au, 327 gpt Ag, 9.2% Pb, 3.8% Zn, 0.14% Cu; 12.0 m @ 0.15 gpt Au, 44 gpt Ag, 1.1% Pb, 4.0% Zn, 0.15% Cu; 2.8 m @ 0.20 gpt Au, 111 gpt Ag, 1.6% Pb, 3.9% Zn, 1.3% Cu; 1.9 m @ 0.12 gpt Au, 132 gpt Ag, 3.2% Pb, 9.9% Zn, 0.4% Cu; 7.2 m @ 0.06 gpt Au, 25 gpt Ag, 1.0% Pb, 10.3% Zn, 0.2% Cu; 5.7 m @ 0.17 gpt Au, 152 gpt Ag, 3.0% Pb, 4.4% Zn, 0.30% Cu.
  • Fabled Silver Gold Corp. released drilling results from its Santa Maria property in Chihuahua. The last sample on the last drill hole returned 75.9 gpt Ag, with 6.4 m of similar material awaiting results. Fabled is making a reinterpretation of previous work and testing the new targets identified. The ongoing 8,000 m drill program has been increased to at least 9,200 m. “This program will be focused underground to delineate the Santa Maria Central Structure with multi underground drill stations being prepared”.
  • SilverCrest Metals Inc. released additional in-fill and expansion drill results s from the Babi Vista vein splay, Babi Vista vein, Granaditas 1 vein, Granaditas 2 vein, and adjacent hangingwall and footwall veins in the Babicanora Area of its Las Chispas Project in Sonora. The results are from 78 holes totaling 29,308 m completed since the last news release for these veins, in areas with mineral resources or in close proximity. Average results for the Babi Vista vein splay comprise 0.91 true width @ 16.12 gpt Au, 1,351 gpt Ag, with individual intercepts of up to 1.04 m @ 185.65 gpt Au, 13,959 gpt Ag. Babi Vista Footwall and Granaditas 1 average 1.04 m @ 12.89 gpt Au, 1,884 gpt Ag, with the highest intercept running 0.40 m @ 114.0 gpt Au, 78,872 gpt Ag (7.89% Ag). The Babi Vista and Granaditas 2 vein average 0.67 m @ 4.56 gpt Au, 414 gpt Ag, while the Babi Vista Hangingwall averages 0.43 m @ 2.55 gpt Au, 249 gpt Ag.
  • Almaden Minerals Ltd. is conducting an induced polarization geophysical survey at the Ixtaca deposit in Puebla. “The work is designed to help define drill targets beneath the area of hydrothermal alteration called the Southeast Alteration (SE) zone and at depth beneath the Ixtaca deposit (“Ixtaca Deeps”). It is hoped that this geophysical survey, along with past survey results, will identify potential zones of veining like those in the Ixtaca deposit. The discovery drill hole in the original Ixtaca deposit area was planned in part based on high resistivity and chargeability results obtained in an earlier IP geophysical survey”.
  • GoGold Resources Inc. released results from six diamond drill holes from El Favor area at its Los Ricos North project in Jalisco. Highlighted core-length intervals comprise 69.3 m @ 108 gpt Ag, 0.49 gpt Au (including 15.3 m @ 392 gpt Ag, 1.76 gpt Au); 9.6 m @ 112 gpt Ag, 0.39 gpt Au; 59.0 m @ 119 gpt Ag, 0.32 gpt Au (including 5.0 m @ 361 gpt Ag, 0.90 gpt Au); 2.8 m @ 110 gpt Ag, 0.16 gpt Au; 16.1 m @ 97 gpt Ag, 0.21 gpt Au; 12.0 m @ 86 gpt Ag, 0.09 gpt Au; 3.2 m @ 204 gpt Ag, 0.15 gpt Au; 7.2 m @ 135 gpt Ag, 0.76 gpt Au; 23.3 m @ 92 gpt Ag, 0.22 gpt Au; 12.9 m @ 254 gpt Ag, 0.81 gpt Au (including 8.2 m @ 392 gpt Ag, 1.25 gpt Au).
  • Golden Tag Resources Ltd. released results from the first three holes of a 4,500 m campaign at its San Diego project in Durango. A hole in the Fernandez zone returned 50.17 m @ 105 gpt AgEq; Another hole intersected 127.3 m of skarn/Fernandez style mineralization, intersecting 35.46 m @ 0.06 gpt Au, 30 gpt Ag, 0.14% Pb, 0.24% Zn, 0.01% Cu (52 gpt AgEq) and 91.84 m @ 0.07 gpt Au, 15 gpt Ag, 0.31% Pb, 0.34% Zn, 0.01% Cu (49 gpt AgEq). Other holes intercepted 1.11 m @ 0.90 gpt Au, 142 gpt Ag, 0.13% Pb, 0.21% Zn, 0.02% Cu; 3.25 m @ 0.02 gpt Au, 237 gpt Ag, 0.41% Pb, 0.82% Zn, 0.08% Cu; 1.10 m @ 0.28 gpt Au, 195 gpt Ag, 1.70% Pb, 1.92% Zn, 0.07% Cu; 2.69 m @ 0.05 gpt Au, 355 gpt Ag, 0.30 % Pb, 0.41% Zn, 0.02% Cu; 8.41 m @ 0.02 gpt Au, 24 gpt Ag, 0.61% Pb, 0.49% Zn, 0.06% Cu.

ON DEALS AND CORPORATE ISSUES

  • VanGold Mining Corp. closed the acquisition of El Cubo mine and mill complex in Guanajuato with Endeavour Silver Corp..  The deal involved the payment of US$7 M in cash plus VAT and the delivery of 21.33 M shares of VanGold and a promissory note for $2.5 M a year from closing. El Cubo has 508 K tonnes grading 194 gpt Ag, 2.44 gpt Au containing 3.17 M Oz Ag, 39,860 Oz Au as indicated resources and 1.45 M tonnes @ 214 gpt Ag, 2.78 gpt Au containing 10 M Oz Ag, 129,900 Oz Au as inferred resources.
  • Silver Spruce Resources Inc. signed a letter of intention (LOI) with Colibri Resource Corp. to acquire up to 50% interest in four concessions in Sonora, comprising two properties, Diamante 1 and Diamante 2 covering 1,057 hectares. The projects are separated by 700 meters, and in close proximity to other Colibri properties. The initial cash payment by Silver Spruce is to be of $75 K (Note.- The details of the deal are lengthy and involve a third party, please take a look to the appropriate press release if interested in it).
  • Empress Royalty Corp. executed the US$5 M silver stream agreement on the Telson Mining Corp. owned Tahuehueto project in Durango. “Empress has now executed the US$5M silver stream agreement on production from Telson’s Tahuehueto project in Mexico. The US$5M Stream is on 100% of the payable silver production from Tahuehueto for the first 1,250,000 payable ounces; thereafter, the percentage will stepdown to 20% of the payable silver production to a maximum of 10 years from first production after which the Stream terminates”.

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 image below:  Disseminated and vein constrained sulfides in a porphyritic intrusive rock in split diamond core from Cerro San Pedro in San Luis Potosi. Picture by Jorge Cirett.

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

Magnetite-rich Fe skarn manto

By Miguel A Heredia

During the 14th week of the year (April 05th to April 11th, 2021), at least 35 press releases were announced by companies working in Mexico and 4 news published by the media, with nine informing on exploration results, eight disclosing deals and corporate issues, seven announcing financial issues, six reporting on resources and development, six communicating production and financial results, two discussing social issues, and one commenting on Mexican issues.  ON MEXICO ISSUES, Compañía Minera Cuzcatlán (Fortuna Silver) declared that it pays taxes and reiterated its attachment to the government mechanisms that drive Mexico’s socio-economic development (San Jose mine, Oaxaca). ON EXPLORATION, In Baja California, One World Lithium announced that a drill crew will be mobilizing to its Salar del Diablo project in Baja California, to drill a third diamond drill hole. In Sonora, Colibri informed that it will commence a 3D IP survey at its Evelyn project, Heliostar released first pass sampling and mapping results from its Cumaro project, Ridgestone announced encouraging results from geophysical surveys and follow-up work on its Rebeico project, and Silver Tiger reported drill results in the Benjamin vein zone at its El Tigre project. In Sinaloa, Vizsla provided results from eighteen holes collared along the Napoleon Vein corridor at its Panuco project. In Zacatecas, Alien reported sampling results from dumps/floats at its San Celso property, and Zacatecas Silver completed geological and structural mapping at its El Cristo project.  In San Luis Potosi, Advance Gold started a drilling program at its Saldivar lithium salar project. ON MINING, Endeavor reported Q1, 2021 production results from its Mexican mine operations. GoGold presented Q1, 2021 production and financial results from its Parral Tailings project in Chihuahua. Magna Gold reported year end 2020 financial results from its San Francisco mine in Sonora, and provided production guidance for 2021. Mexus Gold announced its plans to blast at its Santa Elena mine in Sonora. Telson reported Q1, 2021 production results from its Campo Morado mine in Guerrero. Torex presented Q1, 2021 production and financial results from its El Limon-Guajes Mine Complex in Guerrero.  ON  FINANCING, Aura Minerals announced a clarification of its payments of dividends (Aranzazu mine, Zacatecas). Canuc granted 6M incentive stock options to officers, directors, employees, and consultants (San Javier project, Sonora). Capitan Mining announced a non-brokered private placement for gross proceeds of CAD $3.2M (Peñoles property, Durango). GR Silver entered into a bought deal private placement financing agreement for gross proceeds of $ 8M (Plomosas project, Sinaloa). Santacruz announced a private placement for gross proceeds of up to CAD $14.1M (Zimapan mine, Hidalgo). Silver Spruce granted 759K stock options to its CEO (El Mezquite project, Sonora).  Tarachi Gold commenced to trade on the OTCQB Venture Market under the ticker symbol “TRGGF” (Magistral Mill and Tailings project, Durango).  ON RESOURCES AND DEVELOPMENT, Almadex announced its intention to drill at least three of its Mexican mining properties in 2021, and discussed plans for El Cobre and Ixtaca properties located in Veracruz and Puebla respectively. Consolidated Zinc reported that mill and flotation circuits commissioning commenced over Easter at its Plomosas mine in Chihuahua. Prime released drill results from el Zapote South, Noche Buena, and San Miguel East deposits at its Los Reyes project in Sinaloa. Sonoro reported results from 12 RC holes drilled at its flagship property Cerro Caliche in Sonora. VanGold filed a PEA for combined El Pinguico-El Cubo projects in Guanajuato. ON DEALS AND CORPORATE ISSUES, Discovery Metals announced name change to Discovery Silver (Cordero project, Chihuahua).  Equinox completed the acquisition of Premier Gold and the spin out of i-80 Gold Corp. (Los Filos mine, Guerrero and Mercedes mine, Sonora). Gatos Silver appointed Rodrigo Monroy as General Counsel effective April 1st, 2021 (Los Gatos mine, Chihuahua). Minaurum engaged Digital Marketing Firm and granted 3,825,000 common share stock options to Directors, Officers and Consultants (Alamo Silver project, Sonora). Minera Autlán announced the appointment of Pedro Rivero González as its General Management of the company as of April 5, 2021 (Molango mine, Hidalgo). Santacruz announced that the acquisition of the Zimapan assets is now expected to close on or before April 16, 2021. Tarachi Gold appointed a new member to its Board of Directors and announced the change of Auditor (Magistral Mill and tailings project, Durango). Torex announced that it received a key environmental permit for its Media Luna project in Guerrero.  ON SOCIAL RESPONSIBILITY, Arcelor Mittal delivered a donation of MXP $140K to the Red Cross Delegation of Lázaro Cárdenas in Michoacan. Fresnillo plc., supported workshop members of the El Obligado Community in Fresnillo, Zacatecas who make face masks for the population of nearby communities.

ON MEXICO ISSUES

  • Compañía Minera Cuzcatlán (Fortuna Silver Mines Inc.) declared that it has complied in due time and form with more than MXP $600M for the total federal taxes caused, corresponding to the 2020 annual fiscal year. The payment from an effective tax rate to the mining sector of 45%is one more sample strict adherence to legality and government mechanisms that promote the socio-economic development of the country (San Jose mine, Oaxaca).

ON EXPLORATION

  • One World Lithium Inc., announced that a drill crew will be mobilizing to its Salar del Diablo project in Baja California, to drill a third diamond drill hole. DDH-3 will be located approximately 50Km to the south of DDH-2.
  • Colibri Resource Corporation, informed that it will commence a 3D IP survey at its Evelyn project in Sonora. The 3D IP survey will be focused on the Sahuaro and Cerro Rojo targets and will cover an area of approximately 6 square km. The Company is planning a drill program to test currently defined mineralized trends and structures, to evaluate the emerging geological and structural model for the property, and to test results of the IP survey.
  • Heliostar Metals Limited released first pass sampling and mapping results from its Cumaro project in northern Sonora. Heliostar identified a silicified structure with pyrite and returned 1m channel sample grading 390 g/t Ag, and remains open to expand. Additionally, eleven channel and rock samples returned values >1 g/t Ag in a coherent anomaly that cover an area of 500m by 600m, being this area the extension of the Dos Amigos vein into the eastern block. This mineralization indicates a robust silver endowment and shows the potential for high grades in the eastern block of the El Picacho district.
  • Ridgestone Mining Inc., announced encouraging results from geophysical surveys and follow-up work on its Rebeico project. The IP survey outlined a strong IP high chargeability anomaly of 1,400m north-south and 800m east-west at the south portion of the Alaska vein, at depths of 250 to 300 metres below surface, progressively increasing in width and intensity toward the south.
  • Silver Tiger Metals Inc., reported drill results in the Benjamin vein zone at its El Tigre project in Sonora. Significant drill intersects were encountered in hole ET-21-204 with 140 g/t Ag, 0.12 g/t Au, 0.08% Cu, 3% Pb, and 8.5% Zn (519 g/t AgEq) over 14.2m, including 273 g/t Ag, 0.14 g/t Au. 0.18% Cu, 5.5% Pb, and 17 % Zn (1,013 g/t AgEq) over 5.6m; hole ET-21-206 with 181 g/t Ag, 0.07 g/t Au, 0.05% Cu, 0.6% Pb, and 1.8% Zn (267 g/t AgEq) over 12.3m, including 1,034 g/t Ag, 0.18 g/t Au, 0.29% Cu, 2.7% Pb, and 8.8% Zn (1,443 g/t AgEq) over 2m; and hole ET-20-199 with 222 g/t Ag, 0.05 g/t Au, 0.09% Cu, 0.5% Pb, and 1.7% Zn (305 g/t AgEq) over 7.7m, including 699 g/t Ag, 0.11 g/t Au, 0.2% Cu, 2% Pb, and 7% Zn (1,016 g/t AgEq) over 1.1m.
  • Vizsla Silver Corp., provided results from eighteen holed collared along the Napoleon Vein corridor at its Panuco project in Sinaloa. The company estimated from 54 drill holes, an average vein true width of 4m, a weighted average grade of 155 g/t Ag, 2.74 g/t Au, 0.5% Pb, and 1.3% Zn (441 g/t AgEq), and mineralization extends over 300m in length, 300m  deep, and remains open north, south, and at depth. The best drill intercept was encountered in hole NP-21-80 with 469 g/t Ag, 5.84 g7t Au, 0.5% Pb, and 1.2% Zn (1, 027 g/t AgEq) over a true width (TW) of 4.61m, including 1, 321 g/t Ag, 15.1 g/t Au, 1.3% Pb, and 2.6% Zn (2, 740 g/t AgEq) over a TW of 1.51m.
  • Alien Metals ltd., reported encouraging dump/floats sampling results from its New Andromeda concession adjacent to its San Celso property in Zacatecas. Highlights include 734 g/t Ag, 0.44 g/t Au and 0.6% Zn; 163 g/t Ag, 0.42 g/t Au and 1.9% Zn; 488 g/t Ag; 270 g/t Ag; and 180 g/t Ag and 0.13% Zn. “The samples are all composed of quartz and carbonate dominant vein material with varying amounts of sulphides, hence they are very similar to the mineralization seen in the San Celso vein systems to the north”.  
  • Zacatecas Silver Corp., completed geological and structural mapping at its El Cristo project located immediately to the northwest of the Veta Grande deposit. The Veta Grande vein has reported historical production of over 200 M Oz Ag in the region. The geological and structural mapping identified at least eight veins to date which are associated with a sigmoidal zone of extension that is at least 800 m wide, over a strike length of at least 4 km extending the previous reported strike length of 2.5 to 3.0km. Zacatecas Silver has commenced an extensive soil sampling program to assist with location of veins beneath cover of thin soils. “The cumulative strike length of all veins at El Cristo is at least 12 km long. El Cristo an extremely prospective system with numerous high value targets at vein intersections, splays and flexures. Veins display multiphase and brecciated textures, indicative of multiple mineralizing events. Zacatecas Silver is planning an aggressive rock-chip and channel sampling program to better define the silver-base metal grade distribution of the outcropping veins, to ensure that the highest value targets are drill tested”.
  • Advance Gold Corp., started a drilling program at its Saldivar lithium salar project in San Luis Potosi to test near surface lithium grade distribution of the salar for bulk sampling preparation. The drilling program will be carried out on a grid basis using 100m spacing with holes drilled down to 50m. The company also plans to drill deeper in one of the holes to test the depth to bedrock.

ON MINING

  • Endeavor Silver Corp., reported production results from its Mexican mine operations. The table below shows figures for Q1, 2021 by mine:
  • GoGold Resources Inc., presented Q1, 2021 production and financial results from its Parral Tailings project in Chihuahua. GoGold produced 302.9K Oz Ag, 3,208 Oz Au, and 192.6K Lb Cu (551.2K Oz AgEq), generating free cash flows exceeding USD $5.5Mthis quarter.
  • Magna Gold Corp., reported year end 2020 financial results from its San Francisco mine in Sonora. The company sold 20,235 Oz Au and 9,188 Oz Ag. Magna reported metal revenues of USD $37M, net cash flow provided by operating activities of USD $9.4M, net cash provided by financial activities of USD $9.4M, and income from mining operations of USD $1.9M. “The Company is setting guidance expectations for gold production during 2021 of between 55K to 65K Oz Au. The Company expects to have the San Francisco Mine fully commissioned before the end of Q2 2021”.
  • Mexus Gold US announced its plans to blast at its Santa Elena mine in Sonora. The blasts will produce 10K tonnes of 2.2 g/t Au, and Mexus expects to be producing gold from this material within 30 days of the blast.
  • Telson Mining Corporation reported Q1, 2021 production and financial results from its Campo Morado mine in Guerrero. Telson milled 174.4 K tonnes of 1.1 g/t Au, 116 g/t Ag, 1% Pb, and 3.9% Zn with metallurgical recoveries of 21%, 41%, 27%, and 74% respectively. To produce 11 tons of Zn concentrate and 1.9 tonnes of Pb concentrate. The company reported revenues of $10.04M from Zn concentrates and $1.9M from Pb concentrate for total revenues of $11.9M.
  • Torex Gold Resources Inc., presented Q1, 2021 production results from its El Limon-Guajes Mine Complex in Guerrero.  The company produced 129K Oz Au from an average underground ore mined of 1, 360 tonnes per day and an average open pit ore mined of 15,090 tonnes per day, and an average plant throughput of 12,340 tonnes per day. Torex provided full year production guidance for 2021 of 430K to 470K Oz Au.

ON FINANCING

  • Aura Minerals Inc., announced a clarification with respect to its payments of a dividend of USD $0.38 per common share, as previously announced by the company on March 15, 2021 (Aranzazu mine, Zacatecas).
  • Canuc Resource Corporation, granted 6M incentive stock options to officers, directors, employees, and consultants. 3.5 M of these options will vest immediately. The remaining 2.5 M options will vest 12 months from April 2nd, 2022. The stock options have an exercise price of $0.35 and a three-year term, expiring on April 2nd, 2024 (San Javier project, Sonora).
  • Capitan Mining Inc., announced a non-brokered private placement for net proceeds of CAD $3.2M from 16M common shares at a price of CAD $0.20 per share. Capitan Mining plans to use the net proceeds to advance drilling and work programs at Peñoles property in Durango, as well as for working capital and general corporate expenses.
  • GR Silver Mining Ltd., entered into a bought deal private placement financing agreement for gross proceeds of $ 8M at a price of $0.59 per unit. Net proceeds will be used for working capital and general corporate purposes (Plomosas project, Sinaloa). 
  • Santacruz Silver Mining Ltd., announced a private placement for gross proceeds of up to CAD $14.1M (Zimapan mine, Hidalgo).
  • Silver Spruce Resources Inc., granted 750K stock options to its CEO at an exercise price of $0.05 per share and an expiry date of April1, 2026. The stock options will vest 1/3 on the date of the grant, 1/3 on the first anniversary of the grant and the final 1/3 on the second anniversary of the grant (El Mezquite project, Sonora).   
  • Tarachi Gold Corp., commenced to trade on the OTCQB Venture Market under the ticker symbol “TRGGF” (Magistral Mill and Tailings project, Durango). 

ON RESOURCES AND DEVELOPMENT

  • Almadex Minerals Ltd., announced its intention to drill at least three of its Mexican mining properties in 2021, and discussed plans for El Cobre and Ixtaca properties located in Veracruz and Puebla respectively. At El Cobre, Veracruz, Almadex previously reported  an indicated resource containing 748K Oz Au and 221M Lb Cu (47.2 M tonnes grading 0.49 g/t Au, 0.21% Cu and 1.4  g/t Ag) and an inferred resource containing 860K Oz Au and 254 M Lb Cu (64.2M tonnes grading 0.42 g/t Au, 0.18% Cu and 1.3 g/t Ag).  Almadex looks forward to further developments at this high potential project. At Ixtaca, Puebla, a FS reported a proven and probable reserve containing 1.38M Oz Au and 85.1M Oz Ag (73.1M tonnes grading 0.59 g/t Au and 36.3 g/t Ag). The Ixtaca project is currently in the mine permitting phase, which has taken longer than expected. Almaden has recently noted the exploration potential remaining at the Ixtaca project and the Company looks forward to the results of the Ixtaca exploration programs over the course of 2021.
  • Consolidated Zinc Limited, reported that mill and flotation circuits commissioning commenced over Easter at its Plomosas mine in Chihuahua. It also announced that the tailings dam earthworks is completed, laying of the impervious liner is 70% complete, and the power supply installed, commissioned, and operated.  
  • Prime Mining Corp., released drill results from el Zapote South, Noche Buena, and San Miguel East deposits from its ongoing 15,000m phase 1 drill program at its Los Reyes project in Sinaloa. At El Zapote South deposit, significant mineralized drill intercepts have been encountered at hole 21ZAP-04 with 8.95 g/t Au and 74 g/t Ag over 4.5m; hole 21ZAP-03 with 0.76 g/t Au and 33 g/t Ag over 13m, including 1.66 g/t Au and 41 g/t Ag over 4.6m; and hole 21ZAP-08 with 1.96 g/t Au and 63 g/t Ag over 18.7m, including 2.44 g/t Au and 85 g/t Ag over 7.2m. At Noche Buena deposit, hole 21NB-02 encountered 3.17 g/t Au and 141 g/t Ag over 2.9m within a broader zone of 39m with 0.7 g/t Au and 29 g/t Ag; and hole 21NB-03 with 1.12 g/t Au and 30 g/t Ag over 6m. At San Miguel deposit, hole 2SME-01 intersected 1 g/t Au and 131 g/t Ag over 4.5m. Zapote-South, Noche Buena and San Miguel East deposits are three of eight known deposits that comprise the current mineral resource at Los Reyes property.
  • Sonoro Gold Corp., reported results from 12 RC holes drilled at its flagship property Cerro Caliche in Sonora. Highlights include hole SCR-223 in the north western extension of Buena Suerte zone with 0.6 g/t Au over 74.67m, including three intervals of 1.52m with 3.67 g/t Au; hole SCR-222 in the Buena Vista northwest extension of Japoneses zone with 2.04 g/t Au over 15.24m, including 3.15 g/t Au over 6.1m; hole SCR-227 in the northern extension of Japoneses zone with 1.74 g/t Au over 3.05m, including 2.54 g/t Au over 1.53m; and hole SCR-225 at El Colorado zone with 1.16 g/t Au over 7.62m, including 2.31 g/t Au over 3.05m.
  • VanGold Mining Corp., filed a PEA for combined El Pinguico-El Cubo projects in Guanajuato. Results of the PEA analysis were previously announced in the Company’s news release dated February 16, 2021. The company also announced that it obtained permits for El Pinguico road expansion. New route will lessen impact on the Calderones Community. “This road will become El Pinguico’s major thoroughfare for production, exploration, administration, and for safely purposes. The Company anticipates it will reduce driving time between the destinations from 40 minutes to 10 minutes, significantly reducing costs and wear on vehicles”. 

ON DEALS AND CORPORATE ISSUES

  • Discovery Metals Corp., announced name change to Discovery Silver Corp. The company´s common shares will commence trading under the TSX Venture Exchange under its current ticker symbol “DSV” and on the OTCQX where its ticker symbol will change from “DSVMF” to “DSVSF” from April 14, 2021, pending final regulatory approvals from the TSXV and FINRA (Cordero project, Chihuahua).
  • Equinox Gold Corp., completed the acquisition of Premier Gold Mines Limited and the spin out of i-80 Gold Corp. (Los Filos mine, Guerrero and Mercedes mine, Sonora).
  • Gatos Silver Inc., appointed Rodrigo Monroy as General Counsel effective April 1st, 2021, and strengthens its executive management team (Los Gatos mine, Chihuahua).
  • Minaurum Gold Inc., engaged Digital Marketing Firm to assist with online communication to the company, with the goal of increasing market awareness. Minaurum will pay to the Digital Marketing Firm a fee of CAD $64K for six months. The company also granted 3,825,000 common share stock options to Directors, Officers and Consultants. The options are exercisable at a price of $0.52 from a period of ten years from issue date (Alamo Silver project, Sonora).
  • Compañía Minera Autlán, S.A.B. de C.V., reported that, with the prior favorable opinion of the Corporate Practices Committee and approval of its Board of Directors, in a session of February 24, 2021, it was resolved that Pedro Rivero González will assume the General Management of the company as of April 5, 2021 (Molango mine, Hidalgo).
  • Santacruz Silver Mining Ltd., announced that the acquisition of the Zimapan assets, together with the USD $17.6 M loan facility from Trafigura Mexico, S.A. de C.V., are now expected to close on or before April 16, 2021.
  • Tarachi Gold Corp., appointed a new member to its Board of Directors and announced the change of Auditor (Magistral Mill and tailings project, Durango).
  • Torex Gold Resources Inc., announced that it received from Mexico’s Secretariat of Environment and Natural Resources (“SEMARNAT”) the MIA, a key environmental permit for its Media Luna project in Guerrero. The MIA allows Torex to execute construction activities to access its Media Luna deposit in Guerrero.

ON SOCIAL RESPONSIBILITY

  • Arcelor Mittal México SA de CV, delivered a donation of MXP $140K in the framework of its 2021 annual collection to the Red Cross Delegation of Lázaro Cárdenas in Michoacán. ”Arcelor Mittal has made annual donations without interruption. since 2008 to the delegational Red Cross, in addition to collaborating with the worthy institution in different ways: through donations in its annual collections, in kind when necessary, such as the provision of equipment and various supplies, the delivery of an ambulance in 2016 and the repair of three ambulances last year, in addition to the support with facilities for their training”.
  • Fresnillo plc., supported workshop members of the El Obligado Community in Fresnillo, Zacatecas who make face masks for the population of nearby communities. The workshop workers are also suppliers of face masks for the Directorate of Engineering and Construction Department of Industrias Peñoles (DIC). To date, they have sold around 3,000 masks, the same that meet the specifications dictated by the World Health Organization.

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 magnetite-rich Fe skarn manto in a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the First Week of March, 2021

By Jorge Cirett

During the 9th week of the year (March 1st to March 7th, 2021), there were at least 34 press releases by companies working in Mexico. To note, ten companies posted exploration advances on their properties, three presented quarterly results, five posted on financing or share options (for C$2.25 M, C$23 M and C$12 M), three more on project development and six on corporate issues. ON MEXICO ISSUES, the Zacatecas government is promoting talks between Canadian mining companies and mining concession owners. Mining companies raise US$280 million for Mexican projects. First Majestic initiated and arbitration process under NAFTA against the Mexican government. ON EXPLORATION, in Sonora, Silver Viper presented the highest gold results in drilling to date at La Virginia; Heliostar Metals commenced drilling at La Lola and started exploration at Cumaro and Oso Negro; Tocvan Ventures informed on detailed mapping and sampling at Pilar. Tarachi Gold started the second phase underground drilling campaign at La Dura mine at its Tarachi project. In Chihuahua, Kootenay Silver initiated the second phase drilling at Columba; Mammoth Resources began an IP survey at Tenoriba. Monarca Minerals is seeking a key surface access permit at San Jose. In Sinaloa, Oroco Resource conducted a helicopter magnetic survey at Santo Tomas. In Zacatecas, Zacatecas Silver is to explore the Zacatecas Silver project; Alien Metals commenced drilling at Donovan 2. ON MINING, Endeavour Silver, Fresnillo PLC and Great Panther Mining released quarterly and/or full year 2020 reports. ON FINANCING, One World Lithium, Silver Tiger Metals and Santacruz Silver Mining released news on their financing rounds for C$2.25 M, C$23 M and C$12 M respectively. Zacatecas Silver started trading on the TSX. Candelaria Mining granted options for 1 M shares. ON RESOURCES AND DEVELOPMENT, Sonoro Gold released metallurgical tests results from Cerro Caliche. GR Silver released results from one drill hole at Plomosas. Galore Resources released results from five holes drilled in 2019.  ON DEALS AND CORPORATE ISSUES, Empress Royalty is acquiring a silver stream on production from Telson’s Tahuehueto mine in Durango. Orex Minerals is in a 40-60 joint venture with Pan American Silver to explore the Sandra Escobar project in Durango. Ganfeng´s increased interest (to 50%) in Bacanora Lithium has been authorized by China. First Majestic Silver requested an arbitration procedure under NAFTA regarding a tax dispute with the Mexican government. Silver One Resources completed the sale of three properties to Silverton Metals, which in turn completed its qualifying transaction. ON SOCIAL RESPONSIBILITY, Peñoles, Fresnillo PLC and First Majestic Silver informed on actions and awards received by the companies relating to social responsibilities.

ON MEXICO ISSUES

  • The Zacatecas government is promoting talks between Canadian mining companies and mining concession owners. 
  • Mining companies raise US$480 million for Latin America projects. Gold and silver projects obtained US$194 million and US$121 million respectively. Most of that amount is directed to Mexico (US$280 M), Argentina (US$88.6 M), Brasil (US$42.8 M) and Chile (US$26.7 M). Specific projects financed include Las Chispas (Sonora), San Antonio (Sonora), Tahuehueto (Durango) and Cordero (Chihuahua).
  • First Majestic initiated and arbitration request under NAFTA against the government of Mexico. The request comes after failed attempts by the company to engage in negotiations with the government.

ON EXPLORATION

  • Silver Viper Minerals Corp. reported good drilling results from its La Virginia project in Sonora. Highlighted true width intervals comprise 80.08 m @ 18 gpt Ag, 0.69 gpt Au; 11.89 m @ 363 gpt Ag, 21.2 gpt Au (including 0.3 m @ 738 gpt Au, 10,681 gpt Ag, 6.74% Pb, 7.11% Zn); 28.95 m @ 44 gpt Ag, 0.77 gpt Au; 10.16 m @ 42 gpt Ag, 1.06 gpt Au; 0.92 m @ 231 gpt Ag, 11.80 gpt Au; 2.59 m @ 52 gpt Ag, 0.94 gpt Au; 1.52 m @ 78 gpt Ag, 1.07 gpt Au. “The upper portions of hole LV21-289 (azimuth 090, dip -450 ) encountered mineralized stringer intervals thought to represent the southern projection of the Western Zone. More consistent mineralization was encountered starting at 280 metres down hole, returning a down hole length measuring 130 metres core length with an average grade of 18 g/t silver and 0.69 g/t gold. Beneath this interval, a well mineralized breccia zone was encountered, starting at 424.85 metres down hole for 19.30 metres core length averaging 363 g/t silver and 21.2 g/t gold, and thought to represent the projection of El Rubi structure”.
  • Zacatecas Silver Corp. described its Zacatecas Silver Project in Zacatecas. The 7,826 ha Zacatecas Silver property in the Zacatecas district, includes the Panuco deposit and the Muleros, El Cristo and San Manuel-San Gill prospects.  Panuco has an historic resource of 19.47 M Oz Ag in 3.95 M tonnes @ 153 gpt AgEq (136 gpt Ag, 0.01% Pb, 0.11% Zn). At Muleros three veins can be traced for 3 km; El Cristo is the NW extension of the Veta Grande system, same that is reported to have produced over 200 M Oz Ag; San Manuel-San Gill is a relatively unexplored vein system and an 800 m long hematitic breccia is also present.
  • Alien Metals Ltd. announced the commencement of its drilling program at the Donovan 2 copper gold project in Zacatecas. The 2,500 m of drilling is to test targets defined by an IP geophysical survey conducted late in 2020. “Pursuant to the terms of the Earn-in Agreement, Capstone can acquire a 65% interest in Donovan 2 through committed expenditure and cash payments totalling ~US$3.9million. Capstone can move to an 80% interest in the Project through free-carrying Alien to completion of a prefeasibility study”.
  • Kootenay Silver Inc. initiated a 5,000 meters core drilling program at Columba, Chihuahua. “The program will focus on step out and infill drilling on impressive results to date in the high-grade F vein and its associated hanging wall vein, a new discovery blind to surface. Focus will then shift to expanding on numerous other high-grade results such as found in holes CDH 20-030 (415 gpt silver over 11.15 meters including 721 gpt silver over 4.07 meters) in the JZ area and CDH 20-082 (1,186 gpt silver over 4.6 meters) in the B Vein”.
  • Oroco Resource Corp. completed the airborne component of a helicopter magnetics survey over the Santo Tomas project in Sinaloa. The survey comprised 2,231 line-kilometers with tie-line separations of 50 m and 500 m in east-west and north-south orientations respectively; processed results are to be received within two months. Meanwhile, 3D IP surveys continue on the Brasiles zone. Oroco holds a 61.4% interest that can be increased to 81.0% in the core 1,173 ha of the Santo Tomas project, and a 77.5% interest in 7,808 ha surrounding and adjacent to the core concession.
  • Mammoth Resources Corp. has begun induced polarization/magnetometer surveys to infill most of the 60% of the 6-kilometer trend not covered by the previous geophysical survey at Tenoriba, Chihuahua. A total of approximately 70 line-kilometers are to be completed. 
  • Heliostar Metals Ltd. commenced exploration of its projects in Sonora. An initial 1,500 m drilling program has begun at La Lola, focusing in the up to 40 meters wide La Barra vein and its potential to depth. At Cumaro, will map and sample extensions to veins that have ore grade intercepts on the neighboring SilverCrest’s Picacho property. “Exploration at the Oso Negro project will focus on mapping and sampling outcropping veins that yielded samples up to 2,680 grams per tonne (g/t) silver and 100.5 g/t gold. These veins have never been drilled”.
  • Tocvan Ventures Corp. informed detailed mapping and sampling of key targets areas have taken place at its Pilar project in Sonora. The aim of the work is to advance these targets to drill ready status, for a phase II drill program. The Main Zone Extension comprises 800 m southeast of the Main Zone, with highly anomalous gold in soils and rock grab samples and an historic hole with a 13.5 m @ 5.6 gpt Au, 22 gpt Ag intercept. The 4-Trench zone is a 600 m trend with highly anomalous gold in soils and rock grab samples and an historic hole intercept of 7.5 m @ 3.3 gpt Au, 31 gpt Ag. The project has over 17,700 meters of historic core and RC drilling, with intercepts of up to 61 m @ 0.8 gpt Au; 16.5 m @ 53.5 gpt Au, 53 gpt Ag; 13 m @ 9.6 gpt Au; 9 m @ 10.2 gpt Au, 46 gpt Ag.
  • Monarca Minerals Inc. continues to advance the permitting process for drilling of the San Jose project in Chihuahua (near the USA border). Currently the company is in negotiations with the authorities of communal lands for their permit to proceed with drilling activities in their land.
  • Tarachi Gold Corp. started the second phase of underground drilling at the historic La Dura mine at its Tarachi project in Sonora. “In addition to the underground drilling at La Dura, a surface RC drill rig will be mobilized to the Jabali mineral concession in mid-March to test the 400m-long area between the La Dura mine and the artisanal workings at Zaragoza…”.

ON MINING

  • Endeavour Silver Corp. released its financial results for the Q4 and 2020 full-year. The company operates three mines in Mexico: Guanaceví in Durango, Bolañitos in Guanajuato and El Compas in Zacatecas. The company produced 3.5 M Oz Ag, 37,139 Oz Au (7.1 M Oz AgEq) at cash cost $5.55 per Oz Ag and at an all-in sustaining cost of $17.59 per Oz Ag, both net of gold credits. The year-end balance sheet was $61.1 M, with working capital at $70.4 M and a long term debt of $6.1 M.
  • Fresnillo PLC. Presented its financial results for 2020, a year during which it produced 53 M Oz Ag and 769.6 K Oz Au. At Fresnillo, cash cost stands at $5.9 and AISC at $12.92 per silver ounce; At Saucito, cash cost stands at $0.8 and AISC at $6.94 per silver ounce. At San Julián Veins (Chihuahua), cash cost stands at ($6.0) and AISC at $5.04 per silver ounce; At San Julián DOB (Chihuahua), cash cost stands at $7.0 and AISC at $8.85 per silver ounce; At Ciénega (Durango), cash cost stands at ($276.2) and AISC at $618.32 per gold ounce; At Herradura (Sonora), cash cost stands at $727.9 and AISC at $881.92 per gold ounce; Finally, at Noche Buena (Sonora), cash cost stands at $1,158.5 and AISC at $1,502.92 per gold ounce. Exploration expenses for the year were $107.3 M. Shafts at Fresnillo and Juanicipio are being bored to 1,000 meters of depth; commissioning of Juanicipio is expected for Q4 2021, with a forecasted yearly production of 11.7 M Oz Ag, 43.5 K Oz Au. “the longer-term prospects for gold are good, supported by the potential new mines at Rodeo and Orisyvo”. Cash position at the end of the year was US$1,070 M.
  • Great Panther Mining Ltd. reported consolidated financial results for 2020, including figures from its Topia (Durango) and Guanajuato Mine Complex operations in Mexico. During the period 50,868 tonnes were mined in Mexico, milling 49,498 tonnes @ 270 gpt AgEq. 

ON FINANCING

  • Zacatecas Silver Corp. announced its common shares have begun trading on the TSX Venture Exchange (Zacatecas Silver, Zacatecas).
  • One World Lithium Inc. closed its previously announced C$1.5 M non-brokered private placement with an oversubscription that brought the total in gross proceeds to C$2.25 M. The company granted incentive stock options to certain of its directors, officers, management and consultants (Salar del Diablo, Baja California).
  • Silver Tiger Metals Inc. closed it previously announced bought deal offering for gross proceeds of C$23 M. The underwriters were paid a 6% commission on the gross proceeds (El Tigre, Sonora).
  • Candelaria Mining Corp. granted incentive stock options to employees, directors and officers of the company for 1.02 M shares (Pinos, Guanajuato; Caballo Blanco, Veracruz).
  • Santacruz Silver Mining Ltd. announced a non-brokered private placement intended to raise up to C$12 M (Zimapan, Hidalgo).

ON RESOURCES AND DEVELOPMENT

  • Sonoro Gold Corp. reported on metallurgical studies realized at Cerro Caliche Sonora. Bottle roll tests were realized on sample materials from the Japoneses, Cuervos, El Colorado/Cabeza Blanca and Buena Suerte zones, resulting in 80.3% recoveries for gold and 27.2% for silver.
  • GR Silver Mining Ltd. reported high-grade results from one drill hole in the San Juan area at Plomosas, Sinaloa. The highlighted core-length intercept is 5.7 m @ 611 gpt Ag, 0.04 gpt Ag, 0.5% Pb, 1.7& Zn, 0.1% Cu (685 gpt AgEq), including 1.7 m @ 1,762 gpt Ag, 0.10 gpt Au, 1.3% Pb, 4.9% Zn, 0.2% Cu and 0.7 m @ 3,755 gpt Ag, 0.03 gpt Au, 2.5% Pb, 9.7% Zn, 0.5% Cu.  
  • Galore Resources Inc. announced the return of field work and the recent receipt of additional assays from five holes of the drill program executed at El Alamo during 2019. A loan from the CEO, Mike McMillan provided the necessary funds for logging and assaying of the 2019 core. Highlighted core length intervals comprise 21.20 m @ 0.69 gpt Au, including 1.20 m @ 8.89 gpt Au; 4 m @ 0.54 gpt Au; 10.21 m @ 1.14 gpt Au, including 1.10 m @ 4.70 gpt Au; 59.85 m @ 0.32 gpt Au, including 3.2 m @ 1.07 gpt Au.

ON DEALS AND CORPORATE ISSUES

  • Empress Royalty Corp. is in advanced discussions to acquire a US$5 M silver stream on production from Telson Mining Corp.’s Tahuehueto project in Durango. “The Stream is expected to be on 100% of the payable silver production from Tahuehueto for the first 1,250,000 payable ounces; thereafter, the percentage will step-down to 20% of the payable silver production”.
  • Orex Minerals Inc. entered into an agreement with Pan American Silver Corp. to further explore and develop the Sandra-Escobar Project, in Durango. “The Project is a consolidation of two groups of claims, each controlled by the two Joint Venture participants. Orex and Pan American own a 40% and 60% interest, respectively, in Empresa Minera Sandra-Escobar, S.A. de C.V. (the “Joint Venture Company”), the new joint venture company formed to hold the Project. Orex will be the initial operator of the Project”.
  • Bacanora Lithium PLC. informed the receipt of all relevant approvals and consents from the authorities in the People’s Republic of China and receipt of funds by Sonora Lithium Ltd.. These were conditions for the completion of the increased investment in Sonora Lithium by Ganfeng Lithium Co. Ltd., resulting in Ganfeng owning 50% of the share capital of Sonora Lithium (Sonora Lithium, Sonora).
  • First Majestic Silver Corp. submitted a request for arbitration to the International Centre for Settlement of Investment Disputes based on Chapter 11 of the North American Free Trades Agreement (NAFTA). The government of Mexico has refused to engage in negotiations to resolve the dispute. “The Company believes that the Government’s actions are contrary to the terms of the Advance Pricing Agreement, which established the methodology for determining PEM’s revenues and taxes for the 2010 to 2014 fiscal years, and which, according to the Company’s Mexican counsel remains valid in accordance with the Mexican Federal Tax Code unless and until it is nullified by a final instance Court. In addition, the Government of Mexico has refused to participate in the Mutual Agreement Procedures under three international double-taxation treaties signed by Mexico” (San Dimas, Durango).  
  • Silver One Resources Inc. completed the sale of its Mexican silver exploration projects to Silverton Metals Corp.. for $6 M as follows: $1.25 M in cash on closing, issue 4.37 M shares, $750 K in cash at 18 months, $500 K in cash at 24 months and a 1.5% NSR, of which 1% can be bought back by Silverton with a payment of US$500 K for each of the properties (see below).
  • Silverton Metals Corp. (formerly Plymouth Realty Capital Corp.) and Silver One Resources Inc. announced that Silverton has completed its previously announced qualifying transaction with the acquisition of Silver One’s Peñasco Quemado (Sonora), La Frazada (Nayarit) and Pluton (Durango) projects.

ON SOCIAL RESPONSIBILITY

  • Peñoles and Fresnillo PLC informed on actions on biodiversity conservation activities at each of its operations in Mexico.
  • The Ethisphere Institute released a list of 135 companies that have ethics as one of its key directives in the world, which includes two Mexican companies: Grupo Bimbo and Fresnillo, with the latter being one of only three companies from the mining industry.
  • First Majestic Silver Corp. received the 2021 Socially Responsible Business Distinction Award (Reconocimiento de Empresa Socialmente Responsable) granted by the Mexican Centre for Philantropy and the Alliance for Corporate Social Responsibility. The awards were for its three operating mines: San Dimas (Durango), Santa Elena (Sonora) and La Encantada (Coahuila).

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

On the image below:  Ricardo Ramonett checking epithermal low sulfidation quartz veining on andesitic tuffs in Sinaloa. Picture by Jorge Cirett.

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

By Miguel A Heredia

During the fourth week of the year (February 22th to February 28th, 2021), at least 39 press releases were announced by companies working in Mexico and 7 news published by the media, with eleven announcing financial rounds, nine reporting  on resources and development of their mine operations, seven disclosing deals and corporate issues, six commenting on Mexican issues, five informing on exploration results, five discussing social issues, and three communicating production and financial results.  ON MEXICO ISSUES, Mining and Steel companies resumed activities after power outage. Mining is on alert for the possibility that the Mexican Congress approves the initiative of President Andrés Manuel López Obrador to modify the Electricity Industry Law and favor Federal Electricity Commission (CFE). Los Gatos Silver announced restoration of full grid power at its Cerro Los Gatos mine in Chihuahua. According to the Fraser Institute, Chile, Peru, and Mexico have lost global appeal for mining investment. According to Fresnillo plc, half of the electricity used by the La Herradura mine in Sonora comes from clean energy. The president of Mexico, Andrés Manuel López Obrador, has remained firm in his decision not to grant new mining concessions, a measure that has been described as one of the main challenges for the sector.  ON EXPLORATION, In Sonora, Aztec Minerals and its JV partner Kootenay commenced 2021 exploration program at its Cervantes project, and SilverCrest released drill results from its Picacho project. In Nayarit, Xali delineated new drill targets at its El Dorado project. In Jalisco, GoGold released drill results from 12 holes collared at its Los Ricos North project.  ON MINING, Capstone informed that it is on track for ramp-up to 3,780 tonnes per day at its Cozamine mine in Zacatecas by end of Q1, 2021, and reported Q4 and full-year 2020 production and financial results. Gold Resource reported full year 2020 production and financial results from its Don David mine in Oaxaca. Torex announced Q4, 2020 and full year 2020 production and financial results from its Limon-Los Guajes mine complex in Guerrero.  ON FINANCING, Carlyle granted stock options to directors and consultants (Cecilia project, Sonora). Coeur announced its intention to offer USD $350M of senior notes due 2029 (Palmarejo mine, Chihuahua). Capstone closed a USD $150M silver stream agreement with Wheaton Precious Metals (Cozamine mine, Zacatecas). Discovery Metals announced that an aggregate of 31,140,000 common share purchase warrants were exercised (Cordero project, Chihuahua). Fabled announced an exercise of warrants for gross proceeds of $4,150,000 (Santa Maria property, Chihuahua). Orla completed layback agreement with Fresnillo on its Camino Rojo project in Zacatecas. Santacruz, through its subsidiary Carrizal Mining, entered into a definitive agreement with Minera Cedros, a subsidiary of Industrias Peñoles, to acquire the Zimapan mine in Hidalgo. SilverCrest completed its previously announced bought deal offering for gross proceeds of USD $138,069,000 (Las Chispas project, Sonora). Telson executed a LOI with Accendo Banco to provide financing up to USD $25M to complete the construction of its Tahuehueto mine in Durango, and also granted stock options to certain directors, officers, and insiders.  ON RESOURCES AND DEVELOPMENT, Alamos Gold reported minerals reserves and resources for the year-ended 2020 (Mulatos mine, Sonora). Aloro informed that Alamos Gold has initiated its field exploration program on its Los Venados project in Sonora. Chesapeake presented its 2021 work program at its Metates project in Durango. Excellon released results from underground expansion and exploration drilling from its Platosa property in Durango. Fabled released results from the third drill hole collared at its Santa Maria property in Chihuahua. GR Silver announced that it is conducting a ground geophysics program at its San Marcial project in Sinaloa, incorporating magnetometry and 3D IP. Orogen provided an update on its Ermitaño property in Sonora. Prime announced that a fifth core drill rig has been added at Los Reyes project, Sinaloa. Xtierra released drill results from two holes collared at the Victor Vein at its Bilbao deposit in Zacatecas.  ON DEALS AND CORPORATE ISSUES, Barksdale announced the appointment of its Corporate Secretary as well as the grant of stock options to directors, employees and consultants. Colibri signed an option agreement with Bimsa to acquire 100% interest in the Diamante gold project in Sonora. Equinox announced that shareholders and optionholders of Premier approved the acquisition (Mercedes mine, Sonora). GR Silver announced the appointment of its VP Corporate Comminications (Plomosas property, Sinaloa). Autlan announced the appointment of its CEO (Molango mine, Hidalgo). US Antimony announced that trading of its common shares at the New York Stock Exchange (NYSE) has been halted. VanGold announced the appointment of Ramón Dávila to join to its Advisory Board (Pinguico property, Guanajuato).   ON SOCIAL RESPONSIBILITY, Fresnillo plc through its San Julian mine reinforced sanitary measures with campaign in Guadalupe and Calvo, Chihuahua. Minera Media Luna (Torex Gold) and the Universidad de Guerrero signed an environmental monitoring agreement (Limon-Guajes mine complex, Guerrero). Minera Peñasquito (Newmont) donated ventilators to the Medical Specialties Unit (UNEME) in Zacatecas. Mina Santa Elena (First Majestic) donated rapid COVID 19 antigen tests and face masks to municipalities of Baviácora, Aconchi, San Felipe de Jesús, Huépac, Banámichi, and Arizpe in Sonora.

ON MEXICO ISSUES

  • Mining and Steel companies operating in Mexico resumed activities after power outage. The companies normalized their operations after the energy deficit caused by the polar wave in Texas affected their operations. Local operations in the silver, gold, coal and iron mines were suspended or restricted after the US state halting natural gas exports amid a historic winter storm. The interruption of natural gas shipments has generated calls for Mexico to invest in gas storage and diversify its energy matrix.
  • Mining is on alert for the possibility that the Mexican Congress approves the initiative of President Andrés Manuel López Obrador (AMLO) to modify the Electricity Industry Law and favor Federal Electricity Commission (CFE). AMLO said that he will seek to get his proposal approved without changing a single comma. The government last week began a campaign to emphasize the alleged damage that the actions of the IP have brought to the company headed by Manuel Bartlett. Mining is one of the industries that will be affected. Simply the companies that invested in self-supply projects managed to lower the cost of the fluid from 12 or 13 cents of a kilowatt (kw) / hour to 6.5 cents. Those that depend on CFE pay between 8 and 9 cents per kw / hour, far from the level of their competitors in Peru or Chile, which are at 6 cents, let alone those in the US at 4 cents and Canada 2 cents.
  • Los Gatos Silver Inc., announced restoration of full grid power at its Cerro Los Gatos mine in Chihuahua. Given the expedited restoration of full grid power, the outage has had minimal impact on the Company’s mining and processing activities.
  • According to the Fraser Institute, Chile, Peru, and Mexico have lost global appeal for mining investment. In Mexico, concerns about the policies of President Andrés Manuel López Obrador explain the reason for his fall from 4 positions in attractiveness to invest, to place 42. In perception of its policies, it was located in a weak 61st place after descending 10 notches. “The Federal Government is hostile towards the mining industry and is not issuing new permits,” said a company president, echoing concerns the industry has recently expressed.
  • According to Fresnillo plc, half of the electricity used by the La Herradura mine in Sonora comes from clean energy such as wind and solar, with which, through its strategy of sustainability reiterates its commitment to caring for the environment. It has allowed the saving of 4,051 Mhw, which represents an estimated reduction of 2 thousand 358 tons of CO2e. The company reports that for a decade it has invested in the use of renewable energy sources in order to make its processes cleaner and, with it, to be able, in the medium term, to achieve that 75% of its electricity consumption comes from of wind energy.
  • The president of Mexico, Andrés Manuel López Obrador (AMLO), has remained firm in his decision not to grant new mining concessions, a measure that has been described as one of the main challenges for the sector.  AMLO has repeatedly said that his administration will not award new concessions, as his predecessors would have given parts of the country to mining companies too easily. While it may be difficult to obtain new concessions, mining companies can still acquire properties in the secondary market, since there are concession holders who are willing to sell if necessary.

ON EXPLORATION

  • Aztec Minerals Corp.,  and its JV partner Kootenay Silver Inc., commenced their 2021 exploration program at its Cervantes project in Sonora. The plan is to conduct a +500 soil samples to cover 518 hectares with 100m by 100m spaced samples aimed at extending previous soils grid and covering the Estrella and California North targets to the western, northern, and eastern limits of the property. Detailed lithologic, alteration, structural mapping and rock chip sampling will proceed along with the soil sampling program.
  • SilverCrest Metals Inc., released drill results from its Picacho project in Sonora. The best intercepts from initial drilling include hole PI-20-006 with 40.49 g/t Au, and 260 g/t Ag (3,297 g/t AgEq) over a true width (TW) of 7.25m; and hole PI-20-001 with 8.5 g/t Au and 51 g/t Ag (689 g/t AgEq) over a TW of 16.4m. To date, 42 drill holes have been collared at the Picachos property, with 21 intercepting an average of 4.1m with grades of 8.14 g/t Au and 50 g/t Ag (660 g/t AgEq).
  • Xali Gold Corp., delineated new drill targets at its El Dorado project in Nayarit, through the development of a new 3D geological model. The 3D model visualized high grade mineralization occurring in multiple parallel veins. Drill permits are in progress and are expected to take 3-4 months to get them approved.  Drilling is planned to test potential lateral extensions to the high grade zone.
  • GoGold Resources Inc., released drill results from 12 holes collared at its Los Ricos North project. Significant drill intercepts were encountered in hole LRGF-20-025 (Salomon area) with 0.26 g/t Au, 95 g/t Ag, (1.53 g/t AuEq or 115 g/t AgEq) over 70.5m, including 0.59 g/t Au and 251 g/t Ag (3.94 g/t AuEq or 295 g/t AgEq) over 20.1m, including 0.99 g/t Au and 404 g/t Ag (6.37 g/t AuEq or 478 g/t AgEq) over 10.1m, hole  LRGF-20-025 (Guitarrillas area) with 0.35 g/t Au and 107 g/t Ag (1.77 g/t AuEq or 133 g/t AgEq) over 18.3m, including 2.17 g/t Au and 566 g/t Ag (9.71 g/t AuEq or 728 g/t AgEq) over 2m; hole LRGF-21-033 (Salomon area) with 0.59 g/t Au and 116 g/t Ag (2.14 g/t AuEq or 160 g/t AgEq) over 33.9m, including 1.25 g/t Au and 433 g/t Ag (7.02 g/t AuEq or 527 g/t AgEq) over 3m; hole LRGF-21-033 (Guitarrillas area) with 1.94 g/t Au and 275 g/t Ag (5.6 g/t AuEq or 420 g/t AgEq) over 5.8m, including 4.14 g/t Au and 544 g/t Ag (11.39 g/t AuEq or 854 g/t AgEq) over 2.1m; and hole LRGF-21-033 (Los Chivos area) with 2 g/t Au and 486 g/t Ag (8.48 g/t AuEq or 636 g/t AgEq) over 8.8m, including 7.36 g/t Au and 1,693 g/t Ag (29.94 g/t AuEq or 2,245 g/t AgEq) over 2.3m.

ON MINING

  • Capstone Mining Corp., informed that it is on track for ramp-up to 3,780 tonnes per day at its Cozamine mine in Zacatecas by end of Q1, 2021.  During the period Q4, 2020, Capstone produced 10.3M Lb Cu at a cash cost of USD $0.63 per Lb Cu produced, and a total of 37.9M Lb in 2020 at a cash cost of USD $0.69 per Lb Cu produced.
  • Gold Resource Corporation reported full year 2020 production and financial results from its Don David mine in Oaxaca.  The company produced 20,473 Oz Au, 1.19M Oz Ag, 3.57M Lb Cu, 17.3M Lb Pb, and 44.12M Lb Zn in 2020, at a cash and AISC of USD $784 and USD $1,365 respectively per Oz AuEq, for a net income of USD $4.4M with revenue of USD $90.7M and mine gross profit of USD $12.5M.
  • Torex Gold Resources Inc., announced Q4, 2020 and full year 2020 production and financial results from its Limon-Los Guajes mine complex in Guerrero.  Torex produced in Q4, 2020, a total of 130,649 Oz Au at a cash and AISC of USD$579 and USD $886 per Oz Au produced, and sold 133,063 Oz Au for a net income USD $91.9M an adjusted EBITDA of USD $158.5M, cash flow from operations of USD $137.1M, and a free cash flow of USD $70.3M.  For the full year 2020, Torex reported a production of 430,484 Oz Au, at a cash an AISC of USD $672 and USD $924 per OZ Au produced respectively, with a sale of 437,310 Oz Au at a realized Au price of USD $1,771 per Oz, for revenue of USD $789M, a net income of USD $109M, an adjusted EBITDA of USD $431M, and an operating cash flow of USD $342M. Net cash for the year 2020 was USD $161.6M.

ON FINANCING

  • Carlyle Commodities Corp., granted stock options to directors and consultants for the purchase of 2.79M shares. The options are exercisable for a period of 5 years at an exercise price of $0.14 per share (Cecilia project, Sonora).
  • Coeur Mining Inc., announced its intention to offer USD $350M of senior notes due 2029. Net proceeds from the Offering will be used to pay the purchase price and tender premium for up to all USD $230M aggregate principal amount of its 5.875% senior notes due 2024, to pay the redemption price to redeem any of the 2024 notes that are not so tendered in the concurrent tender offer and to pay the fees and expenses in connection with the offering, the concurrent tender offer and any redemption of the 2024 notes. To the extent that the company has excess proceeds from the offering, the company intends to use such excess amounts for general corporate purposes (Palmarejo mine, Chihuahua). 
  • Capstone Mining Corp., closed a USD $150M silver stream agreement with Wheaton Precious Metals.  “All conditions to complete the Stream Agreement have been fulfilled and Capstone has received USD $150M from Wheaton for 50% of the silver productions until 10M Oz Ag have been delivered, thereafter dropping to 33% of silver production, for the life of mine from the Company’s Cozamin Mine in Zacatecas, Mexico. Wheaton will make ongoing payments equal to 10% of the spot silver price at the time of delivery for each ounce delivered to them”. 
  • Discovery Metals Corp., announced that an aggregate of 31,140,000 common share purchase warrants were exercised at a price of CAD $1.0 for gross proceeds of approximately CAD $31M. The company´s current cash balance has increased to approximately CAD $98M (Cordero project, Chihuahua)
  • Fabled Silver Gold Corp., announced an exercise of warrants for gross proceeds of $4,150,000. Following the exercise of the warrants, Fabled continues to have a total of 50,500,000 share purchase warrants outstanding that were previously issued under the financing. The Company has 185,251,903 total shares issued and outstanding as at February 19, 2021 (Santa Maria property, Chihuahua).   
  • Orla Mining Ltd., completed layback agreement with Fresnillo on its Camino Rojo project in Zacatecas. Orla will pay Fresnillo a total cash consideration of USD $62.8M through staged payments. The first payment of USD $25M was due to Fresnillo on closing of the transaction.
  • Santacruz Silver Mining Ltd., through its subsidiary Carrizal Mining SA de CV,   entered into a definitive agreement with Minera Cedros, a subsidiary of Industrias Peñoles SAB de CV, to acquire the Zimapan mine in Hidalgo and related assets, for a total consideration of USD $20M plus a VAT of USD $3.2M.  Assets to be acquired include a processing facility with a capacity of 75K dry tonnes per month, and Zn, Pb, Cu circuits; surface and underground infrastructure required for day to date operations; and 34 mining concessions totalling 5,139 hectares. Santacruz also entered into a loan facility with Trafigura México SA de CV in the amount of USD $17.6M from which USD $15M will be advanced to Peñoles on behalf of Carrizal on closing of the acquisition. The remains balance, USD $8.2M, is being financed by Minera Cedros. The USD $2.6M balance of the Trafigura loan represents the refinancing of existing debt owing to Trafigura by Carrizal and an affiliate.
  • SilverCrest Metals Inc., completed its previously announced bought deal offering for gross proceeds of USD $138,069,000. Gross proceeds will be used to expand the Las Chispas resources and reserves, through further drilling, to optimize the mine and processing plant design, to explore regional targets, and for general working capital purposes.  
  • Telson Mining Corporation executed a LOI with Accendo Banco SA de CV to provide financing up to USD $25M to complete the construction of its Tahuehueto mine in Durango. Telson also granted stock options to certain directors, officers and insiders of up to an aggregate 4.7M shares in the capital stock of the Company.  The options are exercisable on or before February 25, 2026 at a price of $0.30 per share, and the Company has also re-priced 1,873,333 stock options originally granted as to; 1,423,333 exercisable at $0.71 till November 10, 2022, 400,000 exercisable at $0.72 till April 16, 2023 and 50,000 exercisable at $0.71 till April 23, 2023.

ON RESOURCES AND DEVELOPMENT

  • Alamos Gold Inc., reported minerals reserves and resources for the year-ended 2020. Proven and probable reserves at Mulatos mine in Sonora are 33,935,000 tons of 1.24 g/t Au for a total of 1.35M Oz Au. Measured + indicated resources are 74,193.000 tonnes of 1.09 g/t Au for a total of 2.6M Oz Au, and Inferred resources are 9,291,000 tonnes of 0.91 g/t Au for a total of 271K Oz Au. Mineral reserves are exclusive of mineral resources.
  • Aloro Mining Corp., informed that Alamos Gold has initiated its field exploration program on its Los Venados project in Sonora. Focus of the program is the south portion of the property, adjacent to the Mulatos open pit.
  • Chesapeake Gold Corp., informed over its 2021 work program at its Metates project in Durango. This program will consists of approximately 2,500m drilling to recover 10 tonnes of PQ size material to conduct on 40 test columns metallurgical testwork focused on a new heap leach option, to determine the impacts of size, regent strengths, and ore types to determine the optimum oxidation and precious metal leaching parameters. In parallel, Chesapeake will update the previous PSF and add a scoping study for the sulphide heap leach to demonstrate the potential upside of this option.
  • Excellon Resources Inc., released results from underground expansion and exploration drilling from its Platosa property in Durango. Significant drill intercepts were encountered at the Rodilla, NE-1S, and Pierna Mantos with diamond drilling from underground in hole EX20UG491 at the Rodilla Area with 1,023 g/t Ag, 9.3% Pb, 4.5% Zn, and 0.1 g/t Au (1,422 g/t AgEq) over 8.9m, including 3,499 g/t Ag, 29.7% Pb, 10.3% Zn, and 0.1 g/t Au (4,623 g/t AgEq) over 2.2m; hole EX20UG493 at NE-1S Area with 673 g/t Ag, 6.7% Pb, and 7.1% Zn (1,092 g/t AgEq) over 2.4m;  hole EX20UG506 at 623 Area with 1,258 g/t Ag, 7.5% Pb, 2.4% Zn, and 0.1 g/t Au (1,258 g/t AgEq) over 1.6m; and hole EX21UG515 at Gap Area with 721 g/t Ag, 4.1% Pb, and 4.5% Zn (984 g/t AgEq) over 4m. Drilling continues to define and discover new mineralization in the gap Area with 300m of potential mineralized strike to be explored.
  • Fabled Silver Gold Corp., released results from the third drill hole collared at its Santa Maria property in Chihuahua. This third hole is part of an ongoing 8,000m drill program and intersected 85 g/t Ag and 0.49 g/t Au over 12.5m, including 214 g/t Ag and 1.08 g/t Au over 1.8m. “The 12.50 meter intersection has clearly defined a footwall and hanging wall structure with corresponding elevated silver values up to over 7 ounces of silver and remains open at depth. More importantly, the structure is very conformable and intersected exactly where predicted, which bodes very well for the expansion of Santa Maria and increasing the present NI 43-101 resources on the property with only 3 drill holes drilled to date.”
  • GR Silver Mining Ltd., announced that it is conducting a ground geophysics program at its San Marcial project in Sinaloa, incorporating magnetometry and 3D IP. The survey will initially focus on the resource area to characterize the known Ag-Pb-Zn mineralization therein, which hosts the NI 43-101 resource.
  • Orogen Royalties Inc., provided an update on its Ermitaño property in Sonora, currently under control of First Majestic Silver Corp., where Orogen holds a 2% NSR. Last January, First majestic announced a USD $42.1M investment for the development of Ermitaño project to support the construction of an underground mine infrastructure that began last year. First majestic plans to release a PEA by the end of March, and is currently conducting hydrological studies and geotechnical drilling for an upcoming PFS that is expected to be released in H2, 2021.  In addition, the company also plans to extract 30K to 60K tonnes of material for metallurgical testwork.
  • Prime Mining Corp., announced that a fifth core drill rig has been added at its Los Reyes project, Sinaloa. Prime commenced a 15,000m drill program in December 2020 and only ten has been completed to date. The plan is to complete the phase 1 drilling before onset of the rainy season in mid-August, complete a new geological resource model during the rainy season hiatus and then initiate an aggressive Phase 2 drilling program in Q4 2021.
  • Xtierra Inc., released results from two holes collared at the Victor Vein, located adjacent to and west of its Bilbao deposit in Zacatecas. Hole X6B intersected 108 g/t Ag, 0.31% Pb, 0.08% Zn, and 0.03% Cu (120 g/t AgEq) over a true width (TW) of 1.148m, and hole X7B intersected 61 g/t Ag, 5.5% Pb, 4.41% Zn, and 0.08% Cu (336 g/t AgEq) over a TW of 9.37m, including 82 g/t Ag, 6.8% Pb, 6.9% Zn, and 0.29% Cu over a TW of 0.61m, including 63 g/t Ag, 6% Pb, 6.4% Zn, and 0.08% Cu (412 g/t AgEq) over a TW of 0.36m, including 119 g/t Ag, 13.6% Pb, 11.4% Zn, and 0.01% Cu (795 g/t AgEq) over a TW of 0.70m, and including 107 g/t Ag, 8.2% Pb, 6.9% Zn, and 0.54% Cu (566 g/t AgEq) over a TW of 0.50m.

ON DEALS AND CORPORATE ISSUES

  • Barksdale Resources Corp., announced the appointment of its Corporate Secretary as well as the grant of stock options to directors, employees and consultants (San Javier project, Sonora).
  • Colibri Resources Corporation signed an option agreement with Bimsa Minera SA de CV to acquire 100% interest in the Diamante gold project in Sonora.   The Diamante property comprises two 1,057 hectares in two properties that borders El Mezquite project immediately to the west, and about 1.6km northwest of Colibri’s 1,130-ha Jackie project. To earn an initial 50%, Colibri has to pay USD $100K and incur the expense of completing 2,000m of drilling over the course up to two years, and also will be responsible for all exploration cost while preparing for such drilling program. In addition, Colibri will pay ½ of the property tax and security costs during this period.  Upon completion of its 50% earn-in, Colibri will become equal joint venture partners with Bimsa Minera and then Colibri will have an exclusive period of six months to purchase the remaining 50% of the joint venture by paying Bimsa Minera either of: i) USD $2.1M or ii) USD $1.4M and the grant of a 2% net smelter royalty (NSR) on the project.
  • Equinox Gold Corp., announced that shareholders and optionholders of Premier Gold Mines Limited approved the acquisition by Equinox Gold. “On closing of the Transaction, Premier shareholders will receive 0.1967 of an Equinox Gold share for each Premier share held, such that existing Equinox Gold and Premier shareholders will own approximately 84% and 16% of Equinox Gold, respectively, on an issued share basis. The Transaction is expected to close in March subject to certain regulatory approvals and other customary closing conditions”.  By approving the Transaction, Premier securityholders also approved the spin-out to Equinox Gold and Premier shareholders shares of a newly created US-focused gold production and development company to be called i-80 Gold Corp. (Mercedes mine, Sonora).
  • GR Silver Mining Ltd., announced the appointment of its VP Corporate Comminications (Plomosas property, Sinaloa).   
  • Compañía Minera Autlan SAB de CV announced the appointment of its CEO (Molango mine, Hidalgo).   
  • US Antimony Corporation announced that trading of its common shares at the New York Stock Exchange (NYSE) has been halted since before the opening of trading on Wednesday, February 17, 2021 as a consequence of selling common shares in a manner that violated Sections 301 and 713 of the Company Guide. “The violations relate to two non-underwritten transactions involving the sale of an aggregate of26,290,000 shares of common stock at a discount to the market price at the time of each transaction, with the first transaction, which closed on February 3, 2021, involving the sale of 15,300,000 shares of common stock at a purchase price of $0.70 per share, and with the second transaction, which closed on February 16, 2021, involving the sale of 10,990,000 shares of common stock at a purchase price of $1.30 per share”. The Company has been advised by NYSE Regulation that the Company’s common stock will resume trading on the NYSE American following the issuance of this press release and the filing of a Current Report on Form 8-K disclosing the receipt of the Letter, which the Company anticipates will be prior to the open of trading on Friday, February 19, 2021.
  • VanGold Mining Corp., announced the appointment of Ramón Dávila to join to its Advisory Board (Pinguico property, Guanajuato).  

ON SOCIAL RESPONSIBILITY

  • Fresnillo plc reinforced sanitary measures with campaign in Guadalupe and Calvo, Chihuahua.  Personnel from the San Julian mine delivered five thousand washable face masks through a caravan of more than 25 volunteers. The municipality of Guadalupe y Calvo has received different donations of face masks from the mining company that operates San Julian mine, adding more than 30 thousand items delivered. These surgical cloth mouth covers were manufactured by the “Yerbitas” community sewing workshop.
  • Minera Media Luna (Torex Gold) and the Universidad de Guerrero signed an environmental monitoring agreement  to encourages the inhabitants of Nuevo Balsas, Atzcala and Mezcala, communities located around the El Caracol dam and the Balsas rivers and San Juan de Cocula, to get involved in the Participatory Environmental Audit. “During the protocol ceremony, it was reported that 42 residents of Nuevo Balsas have participated in the taking of water and sediment samples, another 260 fishermen from the same town, Atzcala and Mezcala were surveyed for the evaluation of the fishing effort”. (Limon-Guajes mine complex. Guerrero).
  • Minera Peñasquito (Newmont) donated ventilators to the Medical Specialties Unit (UNEME) in Zacatecas. This UNEME has been converted into a COVID-19 Hospital for services of health, which receives people affected by SARS -Cov 2 from the State of Zacatecas, who require hospitalization and who are not beneficiaries of other social security systems. With this donation, Newmont reaffirms its commitment to Zacatecas in support of the most vulnerable population in the state and joins the efforts of health authorities in their fight against this pandemic. Newmont has delivered in Zacatecas more than MXP $28M, in hospital supplies and food packages.
  • Mina Santa Elena (First Majestic) donated rapid COVID 19 antigen tests and face masks to municipalities of Baviácora, Aconchi, San Felipe de Jesús, Huépac, Banámichi, and Arizpe in Sonora, with the aim of detecting suspicious cases and mitigating risks of contagion.

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 hydrothermal breccia displaying cockade texture and a quartz vein displaying boiling texture in an intermediate sulphidation epithermal system in a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia., Mexico.