Highlights on the Third Week of April, 2018. Mining and Exploration News in Mexico

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On the picture above, Very strong silicification and minor alunite on a shallow epithermal system in Guanajuato. Picture by Jorge Cirett.

By Jorge Cirett

During the 16th week of the year (April 16th to April 22nd, 2018), at least 20 press releases were announced by companies working in Mexico, of which two had information on exploration, five on first quarter production, three in financing, two on resources and development and seven in corporate issues. ON MEXICO ISSUES, No relevant news. ON EXPLORATION, In Jalisco, Evrim released impressive high-grade results from trenching at Cuale. In Veracruz, Mexican Gold released high grade samples from veins at Las Minas. ON MINING, McEwen, Fortuna Silver, Avino Silver, Telson and Excellon presented Q1 2018 production reports. ON FINANCING, Prospero Silver and Aura Silver respectively announced the opening and closing of financing rounds, while Excellon announced the exercise of warrants. ON RESOURCES AND DEVELOPMENT, SilverCrest released drill results from the Luigi vein at its Las Chispas property in Sonora. Levon Resources filed a PEA report with a new resource estimate on the Cordero project in Chihuahua.  ON DEALS AND CORPORATE ISSUES, Monarca Minerals continues work to solve community issues in Tejamen, Durango. Geologix Explorations Inc. is to change name to ValOro Resources Inc.. Advance Gold acquired the Venaditas property in Zacatecas. Argonaut Gold informed on the legal struggle that halted the explosives permit use on its La Colorada mine in Sonora. Goldplay Exploration optioned the San Marcial property in Sinaloa. Vangold Mining and Mexican Gold granted options to officers, directors and consultants.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Evrim Resources Corp. announced results from trench sampling at its Cuale project in Jalisco. Trench 4 grades 13.61 g/t Au over 106.2 m, including 50.0 m grading 26.13 g/t Au, including 7.5 m @ 163.3 g/t Au. Trench 2 grades 2.94 g/t Au over 29.4 m, including 17.9 m @ 4.55 g/t Au. Gold results over 10 g/t have been re-assayed. “Metallic screen assays reported acceptable repeatability with excellent repeatability at the highest gold grades”. A second IP line defines a 1,200 m long by 50 to 120 m deep highly resistive ledge associated with strong silicification and minor anomalous gold at the surface.
  • Mexican Gold Corp. released initial sampling results from four veins on its Pueblo Nuevo concession, part of its Las Minas property in Veracruz. The veins are hosted in diorites with argillic alteration, occur as mesothermal quartz veins, 20 to 50 cm in width with sub-vertical dips and lack post-minerals deformation. The Tamiahua I vein assayed 90.82 g/t Au, 37 g/t Ag over 0.40 m, with the footwall and hanging wall returning 0.52 g/t Au, 1 g/t Ag over 1.0 m and 0.72 g/t Au, 1 g/t Ag over 0.80 m respectively. Nine samples at the Tamiahua II returned 2.05 to 22.82 g/t Au and 5 to 37 g/t Ag on an average width of 0.27 m (up to 0.50 m). At the Cajon vein a grab sample returned 32.2 g/t Au, 231 g/t Ag; while a 0.20 m chip sample assayed 3.53 g/t Au, 31 g/t Ag. At the Dos Rios vein, two 0.35 m and 0.18 m samples returned 3.86 g/t Au, 16 g/t Ag; 8.25 g/t Au, 59 g/t Ag respectively, while a 1.0 m  hanging wall channel sample returned 4.92 m g/t Au, 38 g/t Ag.

ON MINING

  • McEwen Mining Inc. reported consolidated production for Q1 2018, which includes figures from its Mexican operations. At El Gallo in Sinaloa, 12,217 AuEq Oz were produced during the period. Mining from the existing open pits will cease in Q2, while heap leach activities will continue until 2020, or as long as it remains economic.
  • Fortuna Silver Mines Inc. reported first quarter 2018 production, including figures from its Mexican operations. At San Jose in Oaxaca, 258 K tonnes were milled, at an average rate of 3,011 tonnes per day (tpd) @ 284 g/t Ag, 0.2 g/t Au, and a recovery of 92.8% Ag, 92.3% Au, to produce 2.18 M Oz Ag, 14,882 Oz Au.
  • Avino Silver & and Gold Mines Ltd. released first quarter 2018 production results from its Avino property in Durango. During the period 120.6 K tonnes were milled @ 56 g/t Ag, 0.58 g/t Au, 0.43% Cu, with recoveries of 81% Ag, 68% Au, 84% Cu, to produce 309.9 K Oz Ag, 2,065 Oz Au, 970 K Lb Cu.
  • Telson Mining Corp. presented first quarter 2018 results from its Campo Morado mine in Guerrero. During the period the mill processed 148.7 K tonnes (approximately 1,650 tpd) @ 3.65% Zn, 0.41% Cu, 0.90% Pb, 1.14 g/t Au, 108 g/t Ag, with recoveries of 70.4% Zn, 23.0% Cu, 37.9% Pb, 17.9% Au, 28.3% Ag in the elaboration of distinct Zn, Cu, Pb concentrates containing 3,824 tonnes Zn, 140.5 tonnes Cu, 508.7 tonnes Pb, 970.9 Oz Au, 146.8 K Oz Ag. Telson continues to ramp-up production to the 2,500 tpd plant capacity.
  • Excellon Resources Inc. presented first quarter 2018 production results from the Platosa mine, Durango. During the period 13,784 tonnes were mined, 18,885 tonnes milled @ 359 g/t Ag, 3.79% Pb, 6.43% Zn, with recoveries of 87.3% Ag, 81.2% Pb, 83.8% Zn, to produce 194.5 K Oz Ag, 1.27 M Lb Pb, 2.25 M Lb Zn.

ON FINANCING

  • Prospero Silver Corp. is to complete a non-brokered private placement intending to raise gross proceeds of up to $1 M (Petate, Hidalgo; Bermudez, Chihuahua).
  • Excellon Resources Inc. announced that 3.33 M warrants were exercised, for proceeds of C$2.17 M (Platosa, Durango).
  • Aura Silver Resources Inc. is undertaking a non brokered private placement to raise gross proceeds of up to $600 K (Aranzazu, Zacatecas).

ON RESOURCES AND DEVELOPMENT

  • SilverCrest Metals Inc. released drill results from the Luigi vein on the Las Chispas property in Sonora. The vein was discovered in mid-2017 and referred only as unnamed vein until further drilling delineated a prospective target. Relevant results comprise: 0.8 m (true width, or TW) @ 1.03 g/t Au, 151 g/t Ag; 4.1 m @ 1.71 g/t Au, 232 g/t Ag; 1.8 m @ 0.28 g/t Au, 221 g/t Ag; 1.4 m @ 13.22 g/t Au, 2,067 g/t Ag; 1.4 m @ 0.18 g/t Au, 172 g/t Ag; 1.6 m @ 3.41 g/t Au, 265 g/t Ag; 1.0 m @ 2.75 g/t Au; 231 g/t Ag. The Luigi vein high-grade footprint measures 300 m long by at least 75 m high, averaging 1.7 m in width @ 2.84 g/t Au, 417 g/t Ag. “The Phase III drill program also includes drilling several new and partially-drilled high-grade mineralized veins. An additional 15,000 to 20,000 metres of drilling are planned for Q3 2018”. The 672 ha Cuesta Blanca ranch was bought, with SilverCrest now owning two thirds of the surface rights on the Las Chispas property.
  • Levon Resources Ltd. filed a NI-43-101 technical report with a resource update and preliminary economic assessment (PEA) for the Cordero project in Chihuahua. The project envisages a 40 K tpd operation with a 29 year mine life on 417.5 M tonnes of mineralized material @ 46.5 g/t AgEq, to produce 231 M Oz Ag, 2,863 M Lb Zn, 1,992 M Lb Pb, 0.35 M Oz Au. The base case economic estimate is an after tax net present value of $438 M, using a 7.5% discount rate, and an after tax internal rate of return of 16.5%, with a payback period of 4.8 years.

ON DEALS AND CORPORATE ISSUES

  • Monarca Minerals Inc. presented a corporate update. At Tejamen, in Durango, 202 RC holes and 10 diamond holes have been re-logged to help in the design of a new drilling campaign. The company has involved the Federal, State and Municipal governments in its search of an agreement with the community regarding the surface rights. At San Jose, in Chihuahua, the LOI on the project was extended to July 2018. “Terms of the LOI call for payment of US$20,000 on execution of the LOI(paid), US$20,000 on execution of a definitive agreement, US$50,000 on the first anniversary of the definitive agreement and US$60,000 on the second anniversary of the definitive agreement. The owners retain a 2% NSR. One percent of the NSR can be purchased by Monarca for US$100,000. Back taxes on the property of US$390,000 will be paid over a period of time. Concession taxes per year are approximately US$46,000”.
  • Geologix Explorations Inc. announced its intention to change its name to ValOro Resources Inc., subject to approval by the TSX-V, as well a 10 to 1 consolidation on shares (Tepal, Michoacan).
  • Advance Gold Corp. announced the acquisition of the 2,365 ha Las Venaditas claim in Zacatecas, 11 km to the West of Advance’s Tabasqueña project, which is currently being drilled. “Upon receipt of regulatory approval, Advance will issue to Hot Spring Mining, a Mexican based corporation, 1,000,000 common shares which will be subject to a statutory four-month hold period, in exchange for which Hot Spring Mining will transfer a 100% interest in the Venaditas claims to Advance Mexico. Hot Spring Mining will retain a 2.5% NSR, of which Advance Mexico has the right to buy 1.5% at a rate of $500k CAD per 0.50%”. Advance will issue 800 K options to certain consultants and advisers.
  • Argonaut Gold Inc. reported that the court has postponed “the hearing pertaining to Argonaut’s explosive permit at its La Colorada mine (see press release dated April 12, 2018) to allow the Secretary of National Defense (“SEDENA”) to provide evidence requested by the court regarding the temporary suspension of the explosives permit at Argonaut’s La Colorada mine. It is expected that a ruling will be issued within 15 business days of the original hearing date (April 16, 2018), as required by law.” (La Colorada, Sonora).
  • Goldplay Exploration Ltd. entered into an option agreement with SSR Mining Inc. to acquire a 100% interest in the 1,250 ha San Marcial project in Sinaloa. San Marcial is a low sulfidation epithermal near surface high grade Ag, Zn Pb project with a NI-43-101 resource completed by Silvermex Resources Inc., with opportunity for resource expansion. The indicated resource holds 3.75 M tonnes @ 149 g/t Ag, 0.67% Zn, 0.36% Pb, hosting 18.0 M Oz Ag, 29.9 M Lb Zn, 55.3 M Lb Pb; and 3.07 M tonnes @ 44 g/t Ag, 0.51% Zn, 0.29% Pb holding 4.4 M Oz Ag, 19.5 M Lb Zn, 34.7 M Lb Pb as inferred resources. Goldplay has to pay SSR Mining an aggregate of $2.575 M in cash, issue an aggregate of 3.5 M common shares, incur in $3 M in exploration expenditures over a three year period and grant a NSR royalty (0.5% to 1.5%, based on a resource estimate). A NI-43-101 resource estimate has to be completed on or before the third anniversary of the agreement.
  • Vangold Mining Corp. granted an aggregate of 4.8 M stock options to directors, officers and consultants (Pinguico, Zacatecas).
  • Mexican Gold Corp. granted 174 K incentive stock options to directors and officers of the company.

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

Hecla Fourth Quarter and Year-End 2017 Financial Results Conference Call and Webcast

HeclaMining_30012018

COEUR D’ALENE, Idaho–(BUSINESS WIRE)– Hecla Mining Company ( NYSE:HL) today announced it expects to release its fourth quarter and year-end 2017 financial results before market open on Thursday, February 15, 2018.
A conference call and webcast will be held Thursday, February 15, at 10:00 a.m. Eastern Time to discuss these results. You may join the conference call by dialing toll-free 1-855-760-8158 or for international by dialing 1-720-634-2922. The participant passcode is HECLA.

Esto le debe el SAT a mineras canadienses

http://www.elfinanciero.com.mx/empresas/este-es-el-monto-que-el-sat-le-debe-a-mineras-canadienses.html

Goldcorp, McEwen Mining y Alamos Gold son algunas de las mineras canadienses a las que el órgano tributario no les ha devuelto impuestos, por lo que funcionarios de ese país presionan a México para que solucione el problema.

El Servicio de Administración Tributaria (SAT) retiene más de 360 millones de dólares en devoluciones de impuestos a seis mineras canadienses, incluyendo 230 millones de dólares a Goldcorp, según fuentes y documentos oficiales vistos por Reuters, un hecho que eleva la tensión entre el gobierno y las firmas que operan en el país.

En una serie de reuniones, funcionarios canadienses han presionado a México para que solucione el problema, que afecta la capacidad de inversión en operaciones y es particularmente difícil para las mineras y exploradores más pequeños con escasez de efectivo, dijeron personas familiarizadas con el asunto.

Canadá, protagonista en IED minera de México

http://eleconomista.com.mx/industrias/2016/11/04/canada-protagonista-ied-minera-mexico

En todos los flujos de Inversión Extranjera Directa (IED) captada por México de 1999 a junio del 2016, la participación de Canadá fue de 45.2% y, con base en este dato, las empresas canadienses pidieron que el gobierno de México se interese más por este sector y por las sinergias bilaterales que pueden darse.

México es un destino estratégico para las empresas mineras de Canadá. De toda la IED dirigida por este último país a la economía mexicana en los últimos 18 años, 42% se canalizó al sector minero, en su gran mayoría a la extracción de metales preciosos.

“Este año ha habido una mejora en los precios del oro, entonces uno puede esperar mayores inversiones en México. En este contexto, lo que México debe cuidar es su competitividad frente a otros países, en temas fiscales y de seguridad jurídica”, dijo Michael Harvey, director de Asuntos Corporativos y Seguridad de Goldcorp Latinoamérica.

Empresas Mineras Canadienses Escriben Al Presidente De México

http://www.camimex.org.mx/files/6014/7801/8036/Carta_MTF_EPN_Confidencial.pdf

La carta es un atento llamado a valorar los proyectos mineros que se desarrollan en México por parte de Canadá, en marcando el gran potencial del país para el desarrollo minero, “tiene enorme capacidad geológica pero necesita de capitales para desarrollar plenamente este potencial”.

De igual forma se hace mención de los esfuerzos y la participación que tiene México en los proyectos e instituciones que unifican el interés por el impulso y correcto desempeño del sector. No obstante, los inversionistas canadienses han presentado una “pérdida de confianza en la industria minera” debido a:

“Debilidad del Estado de Derecho y falta de apoyo de las instituciones mexicanas cuando las situaciones afectan a nuestras empresas.” Esto con relación a los bloqueos relazados por transportistas en la Minera Peñasquito en los pasados meses de septiembre y octubre.

Highlights on the Second Week of October 2016, Mineral Exploration in Mexico

During the second week of October, at least 29 press releases were published by companies working in Mexico, including eight third quarter production releases. ON MEXICO NUMBERS AND NEWS, In Mexico the mining industry provides 4% of the GDP, and employs a large workforce. The ministers of Foreign Affairs of Canada and Mexico met and agreed on a work plan to address issues on the mining industry.  ON EXPLORATION, eight companies reported exploration updates on their properties, which include a large drilling program with high grade results in Chihuahua. In Sonora the discovery of lithium rich clays, and the intention to use RC rigs for its exploration in one project; copper soil and magnetic anomalies defined in another project, and gold in soils and rock chip sampling in a property in the Sonoran desert. In Puebla, drilling continues to intersect high grade values outside of a PEA pit limit, while in Sinaloa a several kilometers long trend hosts three target areas of which at least one has provided exciting drill intercepts. In Nayarit a drill program is to target a long and wide zone that portrays high grade rockchip sample results on surface. ON MINING, eight companies reported third quarter production results, providing a useful insight on output numbers. On other matters, a company resumed operations in Zacatecas, while other reported a fatality on a mine in the same State. In Sonora, a company stated it’s near term production target, while in Oaxaca a company was granted the final permit to start mining in a new area. A mine in Chihuahua announced the delay of starting the second phase of operations and in Baja California Sur another mine is trying to overcome low underground throughput and low metallurgical recoveries. ON RESOURCES, a company filed on SEDAR a previously released resource estimation from its property in Durango.  ON FINANCING, two companies entered on a subscription agreement worth $2.53 M, another one closed the first tranche of a private placement for $0.2 M and a third one completed a non-brokered private placement of $4.53 M.  ON DEALS AND CORPORATE ISSUES, one company gained the right to appoint officials in the other’s board, one more completed requirements with the SEC to resume trading and a third one announced that share consolidation and name change will be effective on the third week of October.

ON MEXICO NUMBERS AND NEWS

  • In Mexico the mining industry provides 4% of the GDP, being the fourth largest source of foreign currency, after the automotive, electronics and oil industries. In 2015 the mining industry sustained more than 350 thousand direct employees, and more than 1.6 M indirect jobs.
  • On Canada investment in Mexico. The Ministers of Foreign Affairs of Canada and Mexico, Stephane Dion and Claudia Ruiz met on October 12th, and agreed on a work plan to address the problems that affect the mining companies, of which organized crime and illegal blockades receive the most publicity. Canadian firms provide 70% of the direct foreign investment in mining in Mexico, according to S. Dion.

ON EXPLORATION

  • Coeur Mining Inc. expects to invest $30-$34 M in exploration (in Mexico, Alaska and Nevada) during 2016, which is an 82% increase on the 2015 exploration budget. The focus of exploration is on upgrading resources to reserves, and the discovery of new high-grade resources near existing infrastructure. At Palmarejo 141 holes have been drilled (29,564 m) from underground and surface at the Independencia, Guadalupe and Los Bancos veins. Recent true width intercepts include 4.39 m @ 2,883 g/t Ag, 39.1 g/t Au and 2.1 m @ 811 g/t Ag, 10.3 g/t Au on the same hole at Independencia, and 5.0 m @ 520 g/t Ag, 46.3 g/t Au at Guadalupe. The average grades at Palmarejo at year end 2015 were 169 g/t Ag and 2.61 g/t Au.
  • Alix Resources Corp. and Lithium Australia NL. reported a new lithium-rich clay discovery near its Elektra concession in Sonora. The mineralization has been traced for approximately one kilometer, and staked by a mining concession application named Agua Fria. Reconnaissance sampling returned 347,  353,  880,  950 and 1,000 ppm lithium, with thicknesses of the mineralized clays of 20 to 30 meters.
  • Evrim Resources Corp. defined an area  1,000 meter x 600 meter of propylitic to potassic altered volcanic rocks with a 600 meter x 500 meter copper soil anomaly (>100 ppm Cu). Chlorite-K-feldspar-pyrite-chalcopyrite veinlets and magnetite-chalcopyrite are present. Ground magnetics identified a 400 x 400 meter donut-shaped anomaly coincident with the anomalous soil geochemistry.
  • Colibri Resource Corp. identified a NE trending structure within its Evelyn project in Sonora. Thirteen samples collected along 110 m of the structure returned an average of 9.2 g/t Au. A previously reported 703 samples strong soil survey had results of up to 2.2 g/t Au, with 10% of the assays being greater than 50 ppb Au. A detailed mapping and sampling campaign is to follow.
  • Almaden Minerals Ltd. released results from drilling at its Ixtaca development project in Puebla. Intercepts outside and inside the amended PEA pit include 14.4 m @ 3.6 g/t Au, 147 g/t Ag; 24.2 m @ 2.3 g/t Au, 98 g/t Ag; 18.5 m @ 2 g/t Au, 50 g/t Ag and 75 m @ 0.67 g/t Au, 19 g/t Ag. This mineralization confirms the presence of additional zones of veining adjacent to the Ixtaca zone.
  • Mc Ewen Mining Inc. continues exploration drilling in the El Gallo district, concentrating on three prospective areas, Encuentro South, Las Milpas and Twin Domes, which are within a 7 km long prospective corridor. 8,980 m in 51 RC holes have been drilled, of which 42 have been at Encuentro South. This target has produced the following intercepts: 9.1 m @ 9.6 g/t Au, 38.2 m @ 2.9 g/t Au, 5.4 m @ 7.8 g/t Au, 19.5 m @ 1.3 g/t Au, 15.2 m @ 1.8 g/t Au and 12.7 m @ 1.6 g/t Au. Single sample intervals are as high as 0.5 m @ 126.5 g/t Au. The mineralisation is of low sulfidation epithermal character, with structurally controlled, multi-event quartz breccias and stockwork zones, hosted in propylitically altered meta-andesites.
  • Gainey Capital Corp. continues drilling at its El Colomo property in Nayarit, now targeting the La Higuerita zone, which is 1,000 meters in length and 80 meters in width. Select samples on this zone run: 0.4 m @ 33.3 g/t Au, 1,550 g/t Ag; 1 m @ 20 g/t Au, 895 g/t Ag; 2 m @ 3.2 g/t Au, 147 g/t Ag; 0.5 m @ 1.5 g/t Au, 491 g/t Ag.
  • Alix Resources Corp. is planning to drill test two target areas on its Elektra project in Sonora. The RC drill program envisages 25 holes on the Tecolote concession, and has filed for the environmental permit after obtaining the approval of the local ejido.

ON MINING

  • Goldcorp Inc. announced on October 7th that activities have resumed at its Peñasquito mine in Zacatecas, after an illegal blockade was removed by the authorities.
  • Endeavour Silver Corp. reported production results from its operations in Mexico during the third quarter 2016. Total production from the three mines was 1.28 M Oz Ag and 14.3 K Oz Au during the period. At Guanaceví, in Durango, 82 K tonnes were processed at an 892 tpd (tonnes per day) rate and a grade of 235 g/t Ag and 0.51 g/t Au, for a production of 542 K Oz Ag and 1,163 Oz Au. At the Bolañitos mine in Guanajuato,  8 K tonnes were processed (1,442 tpd)  @ 76 g/t Ag and 2.3 g/t Au, for  a production of 255 K Oz Ag and 7,875 Oz Au. At the El Cubo mine in Guanajuato, 140.8 K tonnes were processed @ 128 g/t Ag, 1.46 g/t Au. Silver and gold recoveries stand at 78.8% – 87.5% and 80.3% – 86.4% respectively.
  • Mexus Gold US and MarMar Holdings. stated that once the leach pad holds 10 K tonnes, the leaching process will start at its Santa Elena mine in Sonora (not to mistake for First Majestic’s Santa Elena mine, also in Sonora). MarMar’s plan is to ramp-up production to 10 K tonnes per day in an 8 month period.
  • Great Panther Silver Ltd. announced production results for the third quarter 2016. At the Guanajuato mine complex 8.6 K tonnes were processed @ 2.36 g/t Au and 163 g/t Ag, to produce 383.6 K Oz Ag and 5,306 Oz Au, with silver and gold recoveries at 88.9% and 85.8% respectively. At its Topia mine in Durango 13.7 K tonnes were processed @ 322 g/t Ag and 0.49 g/t Au, to produce 126.9 K Oz Ag, 117 Oz Au, 248 tonnes Lead and 324 tonnes zinc, with recoveries at 89.7% and 54.3% respectively for silver and gold.
  • Gold Resource Corp. received the blasting permit (the last permit needed) to start development at its Altagracia project, located 15 km NW from its Arista mine and El Aguila mill complex. Production is deemed to start before the end of the year, or the first quarter of 2017. Oxide mineralization will be processed at the El Aguila idle agitated leach circuit, with a starting 150 tonnes per day processing rate. The last estimate was of 185 K tonnes in the mineralized material category (?) @ 321 g/t Ag and 0.55 g/t Au.
  • Capstone Mining Corp. reported a fatal accident at its Cozamin mine in Zacatecas, where a miner was struck by a piece of mobile equipment.
  • Fresnillo PLC reported third quarter 2016 results, which include 11.8 M Oz Ag and 220 K Oz Au for the period. That means a 6.7% rise in silver production, due mainly to the start-up of the first phase of the San Julian plant in Chihuahua and increased ore processed at Saucito, in Zacatecas. Gold production rose 21%, due to higher volumes and grades from La Herradura and Noche Buena mines in Sonora.
  • Fortuna Silver Mines Inc. announced third quarter 2016 production, which includes numbers from its Mexico operations. At its San Jose mine in Oaxaca, 268.2 K tonnes of ore were processed at an average 3,056 tpd rate, grading 224 g/t Ag and 1.76 g/t Au, with recoveries of 82.9% and 92.1% for silver and gold respectively, to obtain a production of 1.78 M Oz of silver and 13,951 Oz of gold.
  • Timmins Gold Corp. released preliminary production results for the third quarter 2016. At its San Francisco mine in Sonora, 1.79 M tonnes of ore were processed (19,472 tpd), and 3.72 M tonnes of waste moved at a 2.13 strip ratio. The ore treated averaged 0.61 g/t Au, to produce 24,052 Oz Au and 13,868 Oz Ag.
  • Capstone Mining Corp. announced production results from the 2016 third quarter, including from its operations at the Cozamin mine in Zacatecas, where 254.8 K tonnes were processed (2,770 tpd) @ 1.39% Cu, 0.75% Zn, 0.06% Pb and 40 g/t Ag. Recoveries stood at 94.7%, 70%, 14.2% and 71.2%, on the same order, to reach the production of 3,358 tonnes of copper, 1,352 tonnes of zinc, 24 tonnes of lead and 235.3 K Oz of silver.
  • McEwen Mining Inc. presented production results for the third quarter of 2016, including information from its El Gallo mine in Sinaloa, where it produced 11,849 Oz Au.

First Majestic Silver Corp. presented production results for the third quarter of 2016 from its six mines in Mexico, for a total production of 4.52 M Oz Ag, 14,452 Oz Au, 8 M Lb Pb and 1.51 M Lb Zn. During the quarter the company drilled 3,520 metres at Santa Elena in Sonora; 3,681 metres at La Encantada mine in Coahuila; 5,115 metres at La Parilla mine in Durango; 6,643 metres at Del Toro mine in Zacatecas; 7,817 metres at the San Martin mine in Jalisco, 9,515 metres at La Guitarra, in Mexico State.

table-3q-201611

 

 

 

 

  • Fresnillo PLC. announced that the second phase of operations at its San Julian mine in Chihuahua will start on the second quarter of 2017, instead of the fourth quarter of 2016.
  • Baja Mining Corp. (from now on Camrova Resources Inc.) released an update on the Boleo mine status in Baja California Sur, on which owns a 10% interest. High mine operating costs (lower underground mining rates and grades than planned), low metallurgical recoveries and low copper prices are a significant challenge. New underground equipment is being delivered to try different underground mining methods and changes are being made to increase metal recoveries.

ON FINANCING

  • Corex Gold Corp. entered into a subscription agreement to issue 25.3 M common shares at $0.10 per share (or $2.53 M) to Alamos Gold Inc. Upon completion of the issuance, and if H Morgan and Company (HMC) elects not to purchase entitled participation shares, Alamos Gold will own ~19.99% of the shares of the company, HMC 14% and management 9% (Santana, Sonora).
  • Alset Energy Corp. has closed the first tranche of it previously announced re-priced private placement, for gross proceeds of $207.9 K. The financing is still open, and aims to raise up to $1 M (Lithium salars, San Luis Potosi, Zacatecas).
  • Premier Gold Mines Ltd. completed a previously announced non-brokered private placement for aggregate share profits of $4.53 M (Mercedes, Sonora).

ON RESOURCES

  • Avino Silver & Gold Mines Ltd. filed on the SEDAR system the previously announced resource estimate on the San Gonzalo mine, the Avino mine system and the oxide tailings. Total measured and indicated resources include 3.27 Mt @ 109 g/t Ag, 0.54 g/t Au, and 0.29% Cu, and inferred resources in 8.14 Mt @ 98 g/t Ag, 0.61 g/t Au and 0.41% Cu, for a total metallic content of 37.1 M Oz Ag, 215.9 K Oz Au and 42,850 tonnes of copper.

ON DEALS AND CORPORATE ISSUES

  • Corex Gold Corp. granted Alamos Gold Inc. (in connection with the issuance of Corex shares to Alamos) the right to nominate up to two directors of Corex. Alamos has elected not to exercise such right at this time but retains the right to do so in the future (Santana in Sonora).
  • Starcore International Mines Ltd. registered on October 11, 2016 on the United States Securities Exchange Commission (SEC). Transactions on the company’s shares can now be resumed (San Martin mine, Queretaro).
  • Baja Mining Corp. announced the 20:1 consolidation of shares and name change to Camrova Resources Inc. will be effective on October 17th(Boleo, Baja California Sur).

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, a strongly silicified volcanic rock crosscut by an intense quartz veinlet stockwork, in an orogenic gold prospect of the Sonora desert.

rri-10123

Seguirá operando Minera San Xavier

http://www.oem.com.mx/elsoldesanluis/notas/n4294698.htm

San Luis Potosí, San Luis Potosí.- El delegado federal de la Secretaría del Trabajo y Previsión Social (STPS), Edgar Durón Puente, señaló que la empresa canadiense Minera San Xavier (MSX) continuará operando tres años más en Cerro de San Pedro, período contemplado para cerrar de manera definitiva, actualmente permanecen trabajando 187 personas y son quienes realizan los trabajos de remediación del sitio.

Canarc Provides Update on Strategic Plans

http://www.fscwire.com/newsrelease/canarc-provides-update-strategic-plans

Vancouver, British Columbia (FSCwire)Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) is pleased to provide an update on its strategic plans going forward.

With the closing of the sale of Oro Silver in the 2nd quarter to Endeavour Silver (“Endeavour”), Canarc is now in its strongest financial position in twenty years, with approximately $6 million in cash and $6.5 million in Endeavour shares (based on the recent Endeavour share price). The enhanced treasury allows the Company to expand its growth strategies and pursue larger M&A opportunities in order to create additional value for shareholders.

Sedatu revisará inversión minera

http://www.cronica.com.mx/notas/2016/965246.html

México.- Ante el gran potencial de México en materia de minería, el gobierno federal ha estado atento al tema. Por lo pronto, la titular de la Sedatu, Rosario Robles Berlanga se reunirá hoy con los comités de Energía y Minería de la Cámara Minera de México (Camimex), que preside Daniel Chávez Carreón para revisar la situación de ese sector.

La idea es que sigan fluyendo inversiones en generación de energía, extracción de minerales y ductos de gas a partir de las oportunidades que ofrece la Reforma Energética, empero las empresas privadas requieren contar con certidumbre y seguridad jurídica en la tenencia de la tierra, un tema que entiende muy bien la secretaria Robles, quien además ha estado atenta al manejo del Fondo Minero para el Desarrollo Regional Sustentable ya que se quiere cuidar el principal, y si me apura, quizá el único activo de miles de familias en el medio rural.

México rompe récord mundial en producción de plata en 2015

http://www.economiahoy.mx/mercados-eAm-mexico/noticias/7544512/05/16/Mexico-rompe-record-mundial-en-produccion-de-plata-en-2015.html

México produjo 189.5 millones de onzas de plata en 2015, un aumento de 3.2 millones de onzas, 2.0%respecto a 2014, con lo que logró la mayor producción global de este metal en la historia reciente, según el Instituto Mundial de la Plata.

En su informe anual sobre el mercado de la plata en el mundo, el organismo destacó que México consiguió por sexto año consecutivo ubicarse como el principal productor mundial de plata, al superar a su más cercano competidor, Perú, que generó 135.9 millones de onzas. Indicó que el repunte en la producción de plata mexicana se dio pese a que la producción mundial de ese metal disminuyó 2.0% en 2015, para ubicarse en 886.7 millones de onzas. La baja en la producción del metal se debió a retrocesos en Canadá, Australia y China, detalló.