18 02 22 Excellon
Toronto, Ontario – February 22, 2018 – Excellon Resources Inc. (TSX:EXN, EXN.WT, EXN.WT.A; OTC:EXLLF) (“Excellon” or the “Company”) is pleased to announce results from its ongoing underground exploration program at the Platosa Mine in Durango, Mexico.
- Further definition and expansion of the high-grade 623 manto, with diamond drilling results including:
- 1,192 g/t Ag, 13.2% Pb and 18.3% Zn or 2,648 g/t silver equivalent (“AgEq”) over 9.1 metres in EX17UG371, including 1,473 g/t Ag, 14.8% Pb and 25.6% Zn or 3,355 AgEq over 6.2 metres
- 1,397 g/t Ag, 7.4% Pb and 23.2% Zn or 2,858 g/t AgEq over 7.3 metres in EX18UG375
- 1,528 g/t Ag, 13.5% Pb and 16.9% Zn or 2,926 g/t AgEq over 3.1 metres in EX17UG369
- Mineralization discovered in area 674 near existing mine workings that may be accessed during 2018
Southern Silver Exploration Corp. (TSX.V: SSV) (“Southern Silver”) reported today that recent surface sampling targeting precious-metal enriched epithermal vein systems on its newly staked CLM West claim group (Creston del Oro, Biznagas and Los Lenchos claims) has identified several new drill targets for RC drill testing in Q2 2018.
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, “Avino” or “the Company”) is pleased to announce the completion of an updated mineral resource estimate for the Company’s Avino Property located near Durango in west-central Mexico (the “Property”). The updated estimate encompasses the Property’s San Gonzalo Mine, the Avino Mine vein systems, and the Property’s Oxide Tailings. The mineral resources estimate has been included in an updated technical report prepared by Aranz Geo Ltd. under National Instrument 43-101 (“NI-43-101”), which will be available on SEDAR (www.sedar.com) under the Company’s profile and filed on Form 6-K with the SEC within 45 days.
Vancouver, British Columbia — Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull”) is pleased to provide results of 7 drill holes from its continued underground drill program targeting the newly discovered Sulphide Zone, which sits under the previously defined oxide zone on the Sierra Mojada Project in Coahuila, Northern Mexico.
Highlights from the seven holes announced in this news release include:
- Hole T17022 — 6 meters @ 802g/t silver, 5.87% zinc, 3.3% copper, and 0.54% lead.
- Hole T17019 — 2 meters @ 1,300g/t silver, 13.52% zinc, 3.87% copper, and 2.95% lead.
- Hole T17021 — 6 meters @ 5.8% zinc, and 0.47% copper.
Azure Minerals Limited (ASX: AZS) (Azure or the Company) is pleased to advise that the Company will shortly commence a second diamond drilling campaign on its 100%-owned, highly prospective Sara Alicia gold-cobalt project in the northern Mexican state of Sonora. The drilling will follow up on the Company’s very successful 2017 maiden drilling program, in which all six drill holes intersected high grades of gold and cobalt mineralisation at shallow depths (refer ASX announcements dated 27 November and 7 December 2018).
By Miguel A Heredia
During the 7th week of the year (February 12th to February 18th, 2018), at least 23 press releases were announced by companies working in Mexico, with five reporting its Q4 and annual 2017 results, six providing update on exploration at their projects, and six announcing financing rounds. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Sonora, Azure commenced a regional exploration program within its Oposura project. It also reported results from soil and ground magnetic surveys at its Sara Alicia project. Riverside provided update on exploration and drilling at its Glor project in Sonora. In Chihuahua, Consolidated Zinc announced high-grade drill results from Tres Amigos area at its Plomosas property; Kootenay announced a drill program at its la Cigarra project. In Durango, Hecla discovered new high-grade zones between known veins on its San Sebastian project. ON MINING, Telson announced the startup of pre-production developing mining and processing at its Campo Morado Mine in Guerrero, and the results of pre-production mining and processing at its Tahuehueto Mine in Durango. Avino reported annual production results for 2017 and 2018 outlook for the Avino and San Gonzalo Mines in Durango. GoGold reported the sale of 366.4K Oz Ag Eq produced at its Parral operation in Chihuahua. Capstone, Hecla and Agnico presented Q4 and annual production results for 2017. Mexus announced sale of gold produced at its Santa Elena Mine in Caborca, Sonora. ON FINANCING, GoGold reported income of $42.9M and income of $30M for Q4 2017. Levon closed a non-brokered private placement for $900K. Orla closed bought deal financing for $30.77M. First Majestic closed an over-allotment option for $150M. Agnico participated in Orla Mining financing acquiring $3M on shares. Alamos Gold announced a financing round of $CAD 3.3M. ON RESOURCES AND DEVELOPMENT, Azure commenced a geological modelling and maiden resource estimation at its Oposura project in Sonora. Sierra Metals disclosed a new mineral resource estimate for its Cusi Mine in Chihuahua. ON DEALS AND CORPORATE ISSUES, Telson Resources announced a change of name to Telson Mining Corporation. San Marco Resources, Impact Silver, and Defiance Silver announced the appointments of Investor Relations, CFO and interim President & CEO respectively.
ON MEXICO ISSUES
- Azure Minerals Limited, announced positive results in two of its projects in Sonora. At Sara Alicia project, Azure reported a strong 200m by 100m Co-Au anomaly from a close-spaced soil sampling with highest values of 1.26 g/t Au and 0.15% Co, which show a close association with strongly magnetic skarn confirmed by magnetic surveys. A separate high-grade Zn anomaly exceeding 1,000 ppm Zn was also identified from the soil sampling. Average of 26 samples is 0.45% Zn with a maximum value of 3.54% Zn. A drill program to test these positive results is in preparation. Azure also announced that the resource definition drilling program comprising 76 holes for 4,196m at the east zone of its Oposura project has finished. It also reported good portable XRF analysis of samples returning high-grade rock chips up to 8.3% Pb and 2.3% Zn. A geological modelling and maiden resource estimation is expected to be completed in April 2018.
- Riverside Resources Inc., completed a drilling program focused on its Puerto Alamo target within its Glor project in Sonora. The drill program comprised seven holes for a total length of 1,212m. Several narrow intervals were intersected from 1 to 4.7m in thickness @25 to 0.35 g/t Au. Stream sediment and soil sampling followed by mapping and rock sampling are planned for Q1 2018. Riverside also announced drill results from its Clemente project in Sonora where the best intersection returned 0.7m @ 827 g/t Ag, 0.23 g/t Au, and 2.1% combined Pb+Zn. Plans to explore undrilled potential areas of Au and Ag at the Santa Elena zone are in progress.
- Consolidated Zinc Limited, announced drill results from the infill resource definition program at Tres Amigos Zone within its Plomosas Mine in Chihuahua. The most significant intersection comprise 5.65m @3% Zn, 7.6% Pb, and 24 g/t Ag; 4.50m @ 36.5% Zn, 0.76% Pb, and 9.3% Ag, including 1.0m @ 35% Zn, 0.97% Pb, and 7 g/t Ag. These high-grade results expand the Tres Amigos mineralized horizon up to 120m down dip.
- Kootenay Silver Inc., is to commence a first phase 5,000m drill program on its La Cigarra project in Chihuahua. The goal is to test La Borracha Zone, the continuity of the high grade bearing structures such as the 104 vein, and the undrilled Nogalera Gold trend. A second phase drill program will be determined based on the results of this initial drilling.
- Hecla Mining Company, discovered new high-grade zones expanding the polymetallic mineralization at San Sebastian in Durango, similar to the Huge Zone on the Middle and Francine veins. Drill results on the West Middle Vein include 317 g/t Ag, 3% Cu, 10% Pb, and 18% Zn over 1.34m and 385 g/t Ag, 4 % Cu, 6% Pb, and 9% Zn over 1.65m. On the Francine vein, drilling results include 295 g/t Ag, 2% Cu, 5% Pb, and 5% Zn over 1.92m to the east and 411 g/t Ag, 2% Cu, 4% Pb and 6% Zn over 1.1m to the west. Drilling continues to expand resources and evaluate polymetallic targets along the Middle and Francine veins and the plan is to also evaluate near-surface, oxide mineralization at the Professor, North and Esperanza veins.
- Telson Resources Inc., announced the successful startup of pre-production developing mining and processing at its Campo Morado Mine in Guerrero. Telson milled 106.6K tonnes with average head grades of 3.57% Zn, 0.38% Cu, 0.85% Pb, 0.83 g/t Au, and 103 g/t Ag to produce 5,021 tonnes Zn concentrate and 2,013 tonnes of Pb concentrate. Telson also announced results of pre-production mining and processing at its Tahuehueto Mine in Durango, with 22,662 tonnes produced from El Creston Zone with average head grades of 6.94 g/t Au, 84.36 g/t Ag, 5.29% Zn, and 2.64% Pb, of which only 14,377 tonnes were milled.
- Avino Silver & Gold Mines Ltd., reported annual 2017 production of 1.4M Oz Ag, 8K Oz Au, and 4.4M Lb Cu from its Avino and San Gonzalo Mines, and announced the completion of an updated PEA for the Oxide Tailings. Avino is working on a plant and mine expansion to increase capacity at the processing plant.
- GoGold Resources Inc., generated revenue of $5.8M on the sale of 366.4K Oz Ag Eq. GoGold stacked 362K tonnes during Q4 2017, which were all reprocessed tailings. For Q4 2017, GoGold reported total comprehensive income of $42.9M and net income of $30M.
- Capstone Mining Corp., reported Q4 and annual 2017 production results from its Cozamin Mine in Zacatecas. During the fourth quarter, 4,254 tonnes of Cu were produced at a cash cost of $1.04 per Lb Cu produced and all-in cost of $2.08 per Lb Cu produced. For the full year, 16,732 tonnes of Cu were produced at a cash cost of $1.16 per Lb Cu produced and all-in cost of $1.90 per Lb Cu produced.
- Hecla Mining Company, reported production of 759K Oz Ag and 5,955 Oz Au in Q4 and 3.3M Oz Ag and 25,177 Oz Au for the full year of 2017 from its San Sebastian Mine in Durango. Hecla generated cash for $62.4M and spent $11.2M resulting in free cash flow of $51.2M.
- Agnico Eagle Mines Limited, reported annual 2017 production of 330,400 Oz Au from its Mexican Mines, which include 180,860 Oz Au from Pinos Altos and 48,400 Oz Au from Creston Mascota Mines in Chihuahua, and 101,120 Oz Au from La India Mine in Sonora.
- Mexus Gold, announced the sale of a small amount of gold produced in a test run at its Santa Elena (Caborca) Mine. The company as hired a new engineer to run the mine since the heap leach pad has shown recovery difficulties.
- Levon Resources Ltd., closed a brokered private placement of $900K. Net proceeds will be used for corporate cost and working capital (Cordero project, Chihuahua).
- Orla Mining Ltd., closed a bought deal financing for gross proceeds of $30.77M. Net proceeds will be partially used for exploration and development activities in its Camino Rojo project in Zacatecas.
- First Majestic Silver Corp., announced the issuance of $US 6.5M aggregate principal amount of 1.875% unsecured convertible senior notes due 2023 to the exercise in part of the over-allotment option granted in connection with the previously announced offering of $US 150M (Six Mines in Mexico).
- Agnico Eagle Mines Limited, announced the acquisition of 1.74M units of Orla Mining for a total consideration of $3.05M (Pinos Altos, Chihuahua).
- Alamos Gold Inc., announced the sale of 3M shares of Corex Gold Corp., by a private share purchase and sale agreement with Osisko Gold Royalties Ltd at a price of $CAD 0.13 for a gross proceeds of $CAD 3.3M. After this transaction, Alamos has not shares in Corex (Mulatos, Sonora).
ON RESOURCES AND DEVELOPMENT
- Azure Minerals Limited, commenced a geological modelling and maiden resource estimation at its Oposura project in Sonora, which is expected to be completed in April 2018. This resource estimation along with other project development studies will be used to prepare a scoping study (SS) / preliminary economic assessment (PEA) scheduled for the third quarter of 2018.
- Sierra Metals Inc., filed a technical report to disclose the new mineral resource estimate on its Cusi Mine in Chihuahua. Total measured mineral resources are 362K tonnes @ 225g/t Ag, 0.55% Pb, 0.68% Zn, and 0.13g/t Au. Total indicated resources are 4.2M tonnes @ 217g/t Ag, 0.64% Pb, 0.66% Zn, and 0.21 g/t Au. Total inferred resources are 1.63M tonnes @ 158 g/t Ag, 0.54% Pb, 0.84% Zn, and 0.16 g/t Au. Sierra Metals reported that the total measured + indicated resources increased 129% to 4.56M tonnes from 2M tonnes, while total inferred resources increased 36% to 1.6M tonnes from 1.2M tonnes previously reported.
ON DEALS AND CORPORATE ISSUES
- Telson Resources Inc., announced a change of name from Telson Resources to Telson Mining Corporation (Campo Morado, Guerrero).
- San Marco Resources Inc., announced the appointment of its Investor Relations Consultant (Chunibas, Sonora).
- Impact Silver Corp., announced the appointment of its CFO (Guadalupe-Minas de Zacualpan, Estado de Mexico).
- Defiance Silver Corp., announced the appointment of its interim President & CEO (San Acacio, 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 below, banded chalcedonic quartz with Ag sulphosalts from a project in Durango State. Photo by Miguel A Heredia.
Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce the commencement of its 2018 drill program on its 100% owned La Cigarra silver project in the Parral Mining Camp, Chihuahua, Mexico.
The first phase of the 2018 program will consist up to 5,000 meters of drilling and will focus on three primary objectives, including:
- Drilling within the La Borracha Zone northwest of the La Cigarra silver deposit;
- Drill testing for continuity of high grade bearing structures such as the 104 “vein” (“104-Vein”) at the southern end of the resource; and
- The first drill test of the newly identified “Nogalera Gold Trend”.
A comprehensive second phase drill program will be determined following the assessment of the various targets and the results from the initial 5,000 meters of drilling.
February 15, 2018 – Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI), recently completed a partner-funded diamond drilling campaign at the Puerto Alamo Target at the 36 km² Glor Gold Project (the “Project”). The exploration and drilling work was funded by partner, Centerra Gold Inc. (“Centerra”), as part of their option to earn a 70% interest in the Project. The Project hosts four key target areas and is located approximately 8 km west of Alamos Gold’s El Chanate Mine in Sonora, Mexico. The recently completed drill program focused on the Puerto El Alamo Target (see Figure 1 below) located in the central part of the Project, which had been defined by a recent detailed soil geochemistry survey and geological mapping.
Consolidated Zinc Limited (ASX:CZL) is pleased to provide an update of the latest extensional and infill resource definition drilling campaign that recommenced on 27 November, 2017 at Plomosas mine in Mexico.
Azure Minerals Limited (ASX:AZS) (“Azure” or “the Company”) is pleased to advise that resource definition drilling of the known eastern mineralised zone (East Zone) at Oposura has been completed. Drilling the East Zone is part of a broader resource drill-out program (refer Figure 1) at Oposura designed to delineate mineralisation previously identified by historical exploration.