The Mining and Exploration News in Mexico: Highlights on the Third Week of June, 2019.

 

Quartz blade texture

By Miguel A Heredia

During the twenty three week of the year (June 17th to June 23th, 2019), at least 33 press releases were announced by companies working in Mexico, with sixteen disclosing deals and corporate issues, seven announcing financial rounds, six reporting on resources and development of their projects, and three informing on exploration results.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Baja California Norte, One World Lithium reported completion of holes 2019-01 and 2019-03 at its Salar del Diablo project, and reported results from the ongoing drilling program. In Durango, Gainey announced its plan to conduct a drilling program at its Las Margaritas project, with an initial phase of 16 drill holes for a total of approximately 2,190m.  ON MINING, no relevant news. ON FINANCING, Prize closed the second and final tranche of its non-brokered private placement for gross proceeds of $195K (Manto Negro project, Coahuila). Sonoro proposed to undertake a non-brokered private placement financing for gross proceeds of up to $750K (Cerro Caliche project, Sonora). Advanced Gold proposed to undertake a non-brokered private placement for gross proceeds of a minimum of $150K (Tabasquena project, Zacatecas). Goldplay announced that it will be undertaken a non-brokered private placement for gross proceeds of up to $1.1M, and increase it to $1,376,250 (San Marcial project, Sinaloa). Impact Silver announced a non-brokered private placement for gross proceeds of up to $1M (Zacualpan mine, State of Mexico). Discovery Metals announced it has applied to the TSX to extend the term of 31,237,000 outstanding common share purchase warrants (Puerto Rico project, Coahuila). Azure secured financing for A$ 2M via a convertible note (Oposura project, Sonora). ON RESOURCES AND DEVELOPMENT, Endeavour received final tailings permit for its Terronera mine in Jalisco. GoGold announced that it is moving forward with the installation of a sulfidation acidification, re-neutralization, and thickening (SART) plant at its Parral tailings re-processing facility in Chihuahua.  Azure provided an update of the mining and processing operation planned for its Oposura project in Sonora.  Torex announced maiden mineral reserves for its El Limón Deep Zone at its El Limón-Guajes Mining Complex in Guerrero. Telson released significant channel samples results from underground development at its Tahuehueto mine in Durango.  Silver Bull announced the extension at depth of its Sierra Mojada deposit in Coahuila. ON DEALS AND CORPORATE ISSUES, Newmont Goldcorp announced that it is ramping up operations at its Peñasquito mine in Zacatecas. Evrim and Harvest Gold extended their JV agreement on Cerro Cascaron project in Chihuahua. Sierra Metals and Fortuna Silver announced results from their annual general meeting of shareholders (Cusi mine, Chihuahua, and San Jose mine, Oaxaca respectively). Premier Gold and Azure announced that their annual general meeting of shareholders will be held on July 25 and on June 19, 2019 respectively.  Excellon, GoGold, Mexican Gold, and Minaurum announced management changes. Oroco engaged San Diego Torrey Hills to provide market awareness and investor relations services to the company (Santo Tomas project, Sinaloa). Telson announced that it will provide a company update in a conference to be held in New Jersey (Tahuehueto project, Durango). Santacruz reached an agreement to amend the repayment terms of a short-term loan that it has borrowed from a private mining company (Veta Grande project, Zacatecas).

 ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • One World Lithium Inc., announced the completion of holes 2019-01 and 2019-03 on its Salar del Diablo project in Baja California Norte, and sent all the samples from holes 2019-01, 03, 06, 09, and 11 to the lab for assays. The lab reported that 4 of the drill holes intersected aquifers that contain brines. A fifth hole intersected an aquifer that likely contains brine as the pH test was 8.6 which can be a good indicator of brines. “The presence of multiple aquifers containing brine indicates a potentially prospective area of over 20,000 hectares or 77 square miles on the northern third of the Salar del Diablo property”. One World also has staked an additional 28,030 hectares claim block bringing the company´s total claim block to 103,430 hectares or 399 square miles.
  • Gainey Capital Corp., announced its plans to conduct a drilling program at its Las Margaritas project in Durango. Gainey has been approved by SEMARNAT to drill up to 32 drill holes but will commence with an initial phase of 16 holes for a total of approximately 2,190m. Las Margaritas project consists of an undrilled low-sulphidation epithermal system in which surface sampling has returned up to 73.7 g/t Au.

ON MINING

  • No relevant news.

ON FINANCING

  • Prize Mining Corporation, closed the second a final tranche of its non-brokered private placement for gross proceeds of $195K. The total combined proceeds from the first and final tranches of the offering were $825K (Manto Negro project, Coahuila).
  • Sonoro Metals Corp., proposed to undertake a non-brokered private placement financing for gross proceeds of up to $750K. The gross proceeds will be used to complete the Phase 2 drilling program and fund the launch of a Phase 3 drilling program at its Cerro Caliche project in Sonora. Funding will also be allocated for the commissioning of preliminary studies required to produce a NI 43-101 compliant study to assess the viability of the development of a heap leach operation at its Cerro Caliche project.
  • Advanced Gold Corp., proposed to undertake a non-brokered private placement for gross proceeds of a minimum of $150K. The gross proceeds will be used to fund a geophysical program and further drilling at its Tabasquena project in Zacatecas.
  • Goldplay Exploration Ltd, proposed to undertake a non-brokered private placement for gross proceeds of up to $1.1M and increase it to $1,376,250. The gross proceeds of the offering will be used for exploration of its San Marcial project in Sinaloa, and for general and administration costs for its operations in Mexico and Canada.
  • Impact Silver , announced a non-brokered private placement for gross proceeds of up to $1M. The gross proceeds will be used to further explore its Zacualpan land package for high-potential Au-Cu targets such as Santa Teresa and manto America, Dense Media Separation engineering studies on the Capire VMS resource mill and production center, and ongoing efficiency improvements at the Guadalupe production mill. The Company reserves the right to increase the size of the private placement by up to 20%.
  • Discovery Metals Corp., announced it has applied to TSX to extend the term of 31,237,000 outstanding common share purchase warrants. “The Company is proposing to extend the expiry date of the warrants by an additional 18 months, such that each warrant will expire on February 17, 2021. The exercise price of all warrants will remain unchanged, at the current exercise price of $1.00 per common share”.
  • Azure Minerals Limited, secured financing for A$ 2M via a convertible note. This funding will enable Azure to meet start-up costs and working capital requirements at its Oposura project in Sonora.

 ON RESOURCES AND DEVELOPMENT

  • Endeavour Silver Corp., received final tailings permit for its Terronera mine in Jalisco. The authorization to change soil use on forest land was issued by SEMARNAT and gives the right to store tailings from the proposed Terronera high grade, underground Ag-Au mine in a secure, filtered dry stack tailings facility adjacent to the proposed plant site. “Now that the Terronera mine project is fully permitted, Endeavour Silver plans to complete a final improved pre-feasibility study in the 3rd quarter and arrange appropriate financing to build Endeavour’s next core asset. The mine is expected to produce more than 5M Oz AgEq (at an 80:1 Ag: Au ratio) over a minimum 12 year mine life”.
  • GoGold Resources Inc., announced that it is moving forward with the installation of a sulfidation acidification, re-neutralization, and thickening (SART) plant at its Parral tailings re-processing facility in Chihuahua. “The construction is planned to be completed before the end of 2019 at a cost of approximately $2.6 million USD and commissioning will begin immediately following practical completion”.
  • Azure Minerals Limited., provided an update of the mining and processing operation planned for its Oposura project in Sonora. High-grade mining is expected to start in the September quarter, at an anticipated production rate of 1,500 tonnes to 3,000 tonnes grading approximately 15% combined Zn + Pb. All mineralization to be mined has been classified under the indicated mineral resource category.
  • Torex Gold Resources Inc., announced maiden mineral reserves for its El Limón Deep Zone at its El Limón-Guajes Mining Complex in Guerrero. Probable mineral reserves as of April 2019 are 487,000 tonnes of 5.5 g/t Au and 6 g/t Ag to contain 86K Oz Au and 101K Oz Ag. Measured mineral resources are 797,000 tonnes of 5.52 g/t Au and 7 g/t Ag to contain 141K Oz Au and 170K Oz Ag, while inferred mineral resources are 1,090,000 tonnes of 5.2 g/t Au and 7 g/t Ag to contain 182K Oz Au and 243K Oz Ag. The mineral reserve is a subset of the mineral resource. The mineral resource is the downdip extension of mineralization in the El Limón open pit. It is located approximately 400 meters north-northwest of the Sub-Sill deposit and is open in three directions.
  • Telson Mining Corporation, released significant channel samples results from underground development at its Tahuehueto mine in Durango. Significant results are  87 g/t Au, 76 g/t Ag, 0.55% Cu, 3.7% Pb, and 12.1% Zn over 2.70m; 7.28 g/t Au, 83 g/t Ag, 0.56% Cu, 5.8% Pb, and 14% Zn over 3.45m; 8.25 g/t Au, 61 g/t Ag, 0.36% Cu, 3.1% Pb, and 6.8%Zn over 2.60m; 9.34 g/t Au, 69 g/t Ag, 0.73% Cu, 2% Pb, and 5.5% Zn over 3.07m; 6.98 g/t Au, 80 g/t Ag, 0.45% Cu, 4.3% Pb, and 5.7% Zn over 2.49m; and 12.55 g/t Au, 248 g/t Ag, 0.75% Cu, 6%Pb, and 8.6%Zn over 1.74m.
  • Silver Bull Resources Inc., announced that drilling results at its Sierra Mojada project in Coahuila have extended at depth the strike length of the deposit by 950m. Highlights include 5% Zn, 8.2% Pb, and 586 g/t Ag over 1.35m and 12.2% Zn, 1.4% Pb, and 53 g/t Ag over 1.8m in hole B19001; and 7.8% Zn, 1.5% Pb, and 36 g/t Ag over 2.05m in hole B19002, both holes in mixed oxide/sulphide mineralization. The company, along with its JV partner South 32 is conducting an initial 8,000m surface drill program targeting a series of possible sulphide extensions at depth to the main deposit, as well as a series of never before tested targets within the wider area.

ON DEALS AND CORPORATE ISSUES

  • Newmont Goldcorp Corporation, announced that it is ramping up operations at its Peñasquito mine in Zacatecas, following the lifting of an illegal blockade and the establishment of a dialogue process sponsored by the national government.
  • Evrim Resources Corp., & Harvest Gold Corp., extended their JV agreement on the Cerro Cascaron property in Chihuahua for a period of six months. Under the terms of the agreement, both companies will attempt to renegotiate the Cerro Cascaron deal and search for a new Au project in Mexico. Harvest has agreed to pay $55K to Evrim to maintain property payments at Cerro Cascaron while both parties renegotiate the Cerro Cascaron agreement. Once the Cerro Cascaron agreement has been renegotiated, Harvest Gold plans to complete a second target drill program on the property. Evrim also announced the appointment of its new VP of Exploration.
  • Sierra Metals Inc., announced results from its annual general meeting of shareholders (Cusi mine, Chihuahua).
  • Fortuna Silver Mines Inc., announced results from its annual general meeting of shareholders (San Jose mine, Oaxaca).
  • Premier Gold Mines Limited, announced its annual general meeting of shareholders will be held on July 25, 2019 (Mercedes mine, Sonora).
  • Azure Minerals Limited, announced its annual general meeting of shareholders to be held on June 19, 2019 (Oposura project, Sonora).
  • Excellon Resources Inc., appointed its new CFO and VP Corporate Development (La Platosa mine, Durango).
  • GoGold Resources Inc., announced management changes on its Board of Directors appointing a new Director, the same who will also serve as Chairman of the Board (Los Ricos project, Jalisco).
  • Mexican Gold Corp., announced the resignation of its President and Director and appointed its new CEO, the same that will serve as the new President and Director of the company. It also appointed its new CFO who will remain as a Director of the company (Las Minas project, Veracruz).
  • Minaurum Gold Inc., appointed a new Director to its Board. It also announced that Mr. David J Baker will be stepping down as a Director of the company (Alamo Silver project, Sonora).
  • Oroco Resource Corp., announced that it has engaged San Diego Torrey Hills Capital Inc., to provide market awareness and investor relations services to the company (Santo Tomas project, Sinaloa).
  • Telson Mining Corporation , announced that it will provide a company update at the John Tumazos Very Independent Research Metals Conference in Holmdel, New Jersey, including the discussion of the Q1 2019 financial results, and the progress being made in the construction of its on-site 1,000 tonnes per day mineral processing plant at its Tahuehueto project in Durango.
  • Santacruz Silver Mining Ltd., reached an agreement to amend the repayment terms of the US$ 2.3M short-term loan that it has borrowed from a private Bolivian mining company. The $US 2.3M payment is now to be repaid by January 30, 2010 (Veta Grande project, Zacatecas).

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 low sulphidation epithermal vein system in a prospect in Guanajuato, Mexico.  Photo by Miguel A Heredia.

Silver Bull Extends Sierra Mojada Strike Length by 950m, Intersects 1.35 Meters of Mineralization Grading 10.47% Zinc, 8.25% Lead, & 586g/t Silver, and 1.8 Meters Grading 12.2% Zinc, 1.4% Lead & 53g/t Silver in Coahuila, Mexico View PDF Vancouver, British Columbia – Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silv

2019-06-19-svb-nr

Vancouver, British Columbia – Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull”) is pleased to provide results from its first two drill holes on the Sierra Mojada Project in Coahuila, Northern Mexico.

TELSON MINING CORPORATION REPORTS TAHUEHUETO UNDERGROUND ASSAYS

TSN_NR_206_Jun17_2019

VANCOUVER, British Columbia–(BUSINESS WIRE)– Telson Mining Corporation (“Telson” or the “Company” (TSX-V, OTC Pink-SOHFF, Frankfurt-TSGN (formerly SQ82)) is pleased to once again report significant channel sample assay results from underground mine development at it’s Tahuehueto Project, a 1,000 tonne per day gold mine currently in construction development. Ongoing sampling during underground development continues to return results that verify the reserves and resources within the geological model and demonstrate the high quality of the gold mineralizing system at Tahuehueto.

The Mining and Exploration News in Mexico: Highlights on the Second Week of June, 2019

Inguaran Feb 2011 109a

By Jorge Cirett

During the 24th week of the year (June 10th to June 16th, 2019), at least 20 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, the illegal blockade on Newmont Goldcorp’s Peñasquito mine in Zacatecas was lifted after 81 days, with negotiations between the parts to start on the following week. CAMIMEX proposed 90% of the Mining Fund should be allocated directly to the mining communities, this amid the presidential intention to use this fund at his sole discretion. ON EXPLORATION, In Baja California, One World Lithium completed the drilling program at Salar del Diablo. In Sonora, Aloro completed a drilling program at Los Venados; Ridgestone presented results of a bulk sample program at Rebeico. In Chihuahua, Ethos Gold commenced drilling at Purisima; Kootenay completed road building for its incoming drill program at Columba; Sable completed its second drilling campaign at Margarita; Radius reported results from drilling at its Amalia project. Advance Gold completed a 3D model for its Tabaqueña project. In Veracruz, Azucar presented results of seven more drill holes at El Cobre. ON MINING, No relevant news. ON FINANCING, Mako is to raise C$27 M, Aztec C$360 K and Minera Alamos had $400 K in warrants exercised. ON RESOURCES AND DEVELOPMENT, Mexus Gold started leaching at Santa Elena, in Sonora. Oroco clarified a statement on Santo Tomas resources from a previous news release. Impact Silver released sample results for the Manto America target area at Zacualpan. Candente informed positive results by partner Sun River Gold on metallurgical tests for the El Oro tailings. ON DEALS AND CORPORATE ISSUES, No relevant news.

ON MEXICO ISSUES

  • The illegal blockade on Newmont Goldcorp’s Peñasquito mine in Zacatecas was announced to be lifted on June 13th. Discussion panels between the parts are to be held starting on June 19th, sponsored by the Ministry of the Interior. The illegal blockade by a truck contractor and proprietors of communal land near the mine site lasted for 81 days. The truck contractor says it is fighting for employment whereas the communal proprietors claim water shortages caused by consumption by the mine (and the company alleges a plain extortion attempt).
  • CAMIMEX (Camara Minera de Mexico) proposed that 90% of the resources of the Mining Fund (Fondo Minero) stay within Municipalities, and the remaining 10% with the Mining Secretariat. Fernado Alanis, president of CAMIMEX, said that the original objective of the fund was to support the mining communities. On the former regulations only 50% of the funds reached the municipalities and the remaining to the coffers of the Federation and States, “but we believe the majority should reach the localities” (this proposal comes amid the presidential intention to deliver the Mining Fund as loans to people in mining communities, a move most in the industry see as a play to gain support for elections, and not helpful for supporting mining communities, originally the aim of such fund).

ON EXPLORATION

  • Ethos Gold Corp. commenced its drill program in the Purisima property in Chihuahua. The initial program will comprise 3,000 m of reverse circulation (RC) drilling in 15 holes, targeting shallow oxide bulk tonnage gold mineralization. “At La Purisima a northwest trending gold mineralized zone has been identified over a strike length of at least 2 km with a width of alteration and geochemically anomalous gold mineralization of approximately 600 metres. Within this footprint are two north-west striking zones that have the strongest gold anomalies, each approximately 200 metres wide.”
  • Aloro Mining Corp. completed 1,347 m of drilling in four holes at its Los Venados project in Sonora. The program aimed to test a blind mineralized felsic dome structure adjacent to the Mulatos mine’s high grade Escondida gold bearing felsic dome. Relevant intercepts comprise 3.05 m @ 0.14 gpt Au; 1.53 m @ 0.13 gpt Au; 3.05 m @ 0.22 gpt Au; 7.62 m @ 0.16 gpt Au.
  • Kootenay Silver Inc. has completed road building and signed a surface access agreement with the landowner at its Columba property in Chihuahua. Drilling is expected to start on the third week of June 2019.
  • Sable Resources Ltd. announced the completion of the second round of drilling at the Margarita project in Chihuahua, releasing the results of the last 15 holes. Here some of the highlighted results: 5.7 m @ 39 gpt Ag; 11.55 m @ 35 gpt Ag; 4.15 m @ 35 gpt Ag; 7.65 m @ 42 gpt Ag; 7.60 m @ 63 gpt Ag, 0.75% Pb, 0.56% Zn (125 gpt AgEq); 8.45 m @ 93 gpt Ag (including 3.2 m @ 193 gpt Ag); 6.0 m @ 66 gpt Ag; 5 m @ 166 gpt Ag (including 1.5 m @ 426 gpt Ag); 62.5 m @ 28 gpt Ag; 59.5 m @ 68 gpt Ag (including 3.05 m @ 230 gpt Ag and 1.75 m @ 220 gpt Ag and 1.65 m @ 190 gpt Ag, and 5.60 m @ 153 gpt Ag); 32.90 m @ 34 gpt Ag; 17.90 m @ 23 gpt Ag.
  • One World Lithium Inc. announced the completion of two more holes at its Salar del Diablo project in Baja California.
  • Ridgestone Mining Inc. released results of a bulk sampling program on its Rebeico Cu-Au project in Sonora. A total of 111 samples weighing a combined 2,500 kg were collected from dumps, mainly form the Alaska vein which operated up to the 1960’s. The average grade for the different zones was: Veta Grande, 6.7 gpt Au, 13 gpt Ag, 0.79% Cu; Upper Alaska, 3.3 gpt Au, 11 gpt Ag, 1.39% Cu; Lower Alaska, 3.4 gpt Au, 23 gpt Ag, 1.32% Cu; La Verde, 3.5 gpt Au, 12 gpt Ag, 0.37% Cu; Josefina, 0.24 gpt Au, 12 gpt Ag, 0.49% Cu; Tunel de Garcia, 2.1 gpt Au, 2 gpt Ag, 0.40% Cu; Año Nuevo, 1.0 gpt Au, 5 gpt Ag, 0.60% Cu; Elena, 0.1 gpt Au, 5 gpt Ag, 0.99% Cu.
  • Radius Gold Inc. reported results from the 1,756 m six diamond hole second phase drill program at its Amalia project in Chihuahua. With the majority of assays received the highlighted true width intervals are: 44 m @ 12.38 gpt Au, 309 gpt Ag; 4 m @ 1.05 gpt Au, 24 gpt Ag; 4 m @ nil Au, 647 gpt Ag; 24 m @ 2.3 gpt Au, 126 gpt Ag (including 2.6 m @ 9.85 gpt Au, 761 gpt Ag); 65 m 3.75 gpt Au, 61 gpt Ag (including 17 m @ 7.91 gpt Au, 65 gpt Ag). “Radius and its partner Pan American Silver Corp have now completed two drill programs totalling 3665m in 15 drillholes…. Geological controls on the mineralization are complex with multiple events of gold and silver mineralization within veins, stockworks and hydrothermal breccias.”
  • Advance Gold Corp. announced the completion of a 3D model for its Tabasqueña project in Zacatecas. “Drilling in the first 3 phases has hit a cluster of mineralized epithermal veins over an area from east to west of approximately 300 metres, and north to south 400 metres, and 300 metres of depth”.
  • Azucar Minerals Ltd. released results from the Norte and El Suegro zones at its El Cobre project in Veracruz. Highlighted results comprise: 19.30 m @ 0.64 gpt Au, 0.08% Cu and 103.40 m @ 0.33 gpt Au, 0.11% Cu in one hole; 29.95 m @ 0.12 gpt Au, 0.15% Cu; 494.50 m @ 0.16% Cu. 0.16% Cu (including 64.5 m @ 0.27 gpt Au, 0.17% Cu); 67.85 m @ 0.46 gpt Au, 0.2% Cu (including 36.2 m @ 0.68 gpt Au, 0.27% Cu); 112.0 m @ 0.17 gpt Au, 0.26% Cu (including 57.75 m @ 0.22 gpt Au, 0.40% Cu); 200 m @ 0.18 gpt Au, 0.22% Cu (including 34.5 m @ 0.36 gpt Au, 0.28% Cu); 101.05 m @ 0.47 gpt Au, 0.14% Cu

ON MINING

  • No relevant News.

ON FINANCING

  • Mako Mining Corp. is to conduct an offering to raise gross proceeds of C$27 M (La Trinidad, Sinaloa).
  • Aztec Minerals Corp. has arranged a non-brokered private placement financing to raise minimum gross proceeds of CAD$360 K (Cervantes, Sonora).
  • Minera Alamos Inc. warrants for an amount of $400 K were acquired by Donald Smith Value Fund, L.P. Following the acquisition the acquiror holds 10.8% of the outstanding common shares of Minera Alamos, of which previously held 9.8% (Santana, Sonora; La Fortuna, Durango).

ON RESOURCES AND DEVELOPMENT

  • Mexus Gold US. informed leaching has started at its Santa Elena mine in Sonora (not to mistake with First Majestic’s Santa Elena mine, also in Sonora). “Approximately 5700 tons of high-grade quartz vein material will be broken on site and hauled to the crushing and leaching site. The estimated grade for this material is in the order of 5 to 10 g/t Au.”
  • Oroco Resource Corp., at the request of IIROC clarifies a previous news release. The Mintec Inc. resource estimate included in the historical Bateman Report of 1994 for the Santo Tomas project in Sinaloa utilized a classification scheme other than those set out in NI-43-101. “A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve. However, the historical assaying and verification methods were performed within the accepted standards applicable at the time.”
  • Impact Silver Corp. released results from surface and underground sampling at the Manto America target area on its Zacualpan property in Estado de Mexico. More than 33 samples have returned greater than 2 gpt Au, peaking at 22.40 gpt Au. Highlighted results include 0.50 m @ 22.4 gpt Au, 7 gpt Ag; 0.40 m @ 21.7 gpt Au, 101 gpt Ag, 1.2% Pb, 1.4% Zn; 0.30 m @ 20.40 gpt Au, 43 gpt Ag; 0.2% Pb, 0.4% Zn; 1.20 m @ 19.5 gpt Au, 8 gpt Ag; 0.30 m @ 16 gpt Au, 421 gpt Ag, 0.8% Pb, 2.1% Zn; 0.37 m @ 14.5 gpt Au, 14 gpt Ag; 0.30 m @ 7.1 gpt Au, 17 gpt Ag; 1.0 m @ 6.4 gpt Au, 2 gpt Ag; 1.0 m @ 3.1 gpt Au, 41 gpt Ag, 0.6% Pb. “The mineralization is hosted in strongly argillically altered volcanic rocks and is associated with lead and barium suggesting a volcanogenic massive sulphide provenance similar to the Capire silver lead zinc deposit to the south”.
  • Candente Gold Corp. informed that Sun River Gold has reported very positive recoveries from metallurgical testing of samples from the tailings deposit at its El Oro property in Estado de Mexico. The tailings project is being moved forward by negotiating the purchase of land for the new processing area and the obtaining the required permits. The material tested was from auger drilling conducted in 2018, averaging 2.99 gpt Au, 85 gpt Ag. Flotation tests were conducted on -325 mesh material returning an average recovery of 80.1% Au, 67.5% Ag on the Upper, Middle and Lower sections of the tailing, and an average of 75.6% Au, 63.6% Ag recoveries in blended material.

ON DEALS AND CORPORATE ISSUES

  • 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, quartz-sulphide veinlet with sericitic halo hosted in intrusive rock in Michoacan. Picture by Jorge Cirett.

Inguaran Feb 2011 109a

Sable Completes Stage II Drilling at Margarita Discovery

Sable Completes Stage II Drilling at Margarita Discovery

TORONTO, June 11, 2019 /CNW/ – Sable Resources (TSX.V: SAE) (the “Company” or “Sable”) is pleased to announce the completion of the second round of drilling at the Margarita Silver Project, Chihuahua State, Mexico. The first drill program, consisting of 12 holes was completed in September 2018 and targeted the core of the Margarita structure, delineating a high-grade silver-dominated core encompassed by a lower-grade halo. The second round of drilling was initiated in February 2019 following encouraging assay and metallurgical results from round one. Consisting of 23 holes
the second drill program targeted the full strike extent of the main Margarita structure as well as additional parallel mineralised structures. This release presents assay results from the final 15 holes; M-DDH-19-13, M-DDH-19-16, M-DDH-19-17, M-DDH-19-23, M-DDH-19-25, M-DDH-19-26, MDDH-19-27, M-DDH-19-28, M-DDH-19-29, M-DDH-19-30, M-DDH-19-31, M-DDH-19-32, M-DDH19-33, M-DDH-19-34 and M-DDH-19-35.

Aloro Reports Drill Results From High Sulfidation Los Venados Project

Aloro Mining Corp_10062019

ALORO MINING CORP. – (the “Company”) has completed drilling at the Los Venados (LV) Project and has received the assay results. The drilling included four drill holes for approximately 1347 meters of drilling. The four drill holes were targeting to locate and test a “blind” mineralized felsic dome structure adjacent to the Mulatos active mine’s high grade Escondida gold bearing felsic dome.  This target was projected from data and mapping all acquired from the completion of 12 prior drill holes in late 2018 and more specifically by drill hole LVRC-012.

Ethos commences drilling at its La Purisima gold project, Chihuahua, Mexico

Ethos Gold Corp_10062019_nr

Vancouver, BC – June 10, 2019, Ethos Gold Corp. (“Ethos” or the “Company”) (TSXV:ECC) (OTCQB: ETHOF) is pleased to announce the commencement of its maiden drill program at the La Purisima gold project in north-west Chihuahua State, Mexico. The initial program will comprise approximately 3,000 meters of reverse circulation (“RC”) drilling in a planned 15 RC holes. The drilling will target near surface, bulk tonnage, oxide gold mineralization. At La Purisima a northwest trending gold mineralized zone has been identified over a strike length of at least 2 km with a width of alteration and geochemically anomalous gold mineralization of approximately 600 metres. Within this footprint are two north-west striking zones that have the strongest gold anomalies, each approximately 200 metres wide. One of these zones (the "Purisima Vein Zone") strikes for at least 2 km, and the other (the "Stockwork Zone") strikes for at least 1 km. Both zones appear to extend under the alluvial valley cover consisting of gravel and soil deposits. Gold and silver mineralization is mainly contained in epithermal quartz veins and veinlets forming stockworks and sheets in both volcanic flow rocks and older discordant sedimentary rocks.