Highlights on the Third Week of December, 2017. Mineral Exploration in Mexico

During the 51st week of the year (December 18th to December 24th, 2017), at least 17 press releases were announced by companies working in Mexico. ON MEXICO ISSUES: The illegal blockade promoted by the Los Mineros Union since November 3, 2017 is showing how far the government is willing to go, or not, to establish the rule of law. ON EXPLORATION: two press releases from companies working in Mexico informed on exploration efforts during the week: In Chihuahua Radius Gold released good rock chip results from its Amalia project. In Sinaloa Gainey Capital is exploring the La Minita porphyry copper style property.  ON MINING: Great Panther announced government authorization for the construction of a second tailings storage facility at its Topia mine in Durango. Mexus Gold produced gold with a Merrill Crowe system installed at its Santa Elena mine in Sonora. Americas Silver announced the San Rafael mine at its Cosala complex is now on commercial production. ON FINANCING: Telson Resources entered into a US$15 M loan with Trafigura. SilverCrest completed a bought deal private placement for $10 M. Primero Mining agreed on an extension to its revolving credit facility. Torex Gold received a waiver to lower the threshold in the credit agreement from $50 M to $30 M. ON RESOURCES AND DEVELOPMENT: In Sonora, Oceanus Resources presented an update on the drilling of its El Tigre property. In Chihuahua, Consolidated Zinc announced the interception of massive sulfides on the Tres Amigos zone of its Plomosas property. In Puebla, Almaden released new results from follow-up  drilling at its Tuligtic property.  In Guerrero, Alio Gold provided the final results of the confirmation drilling at its Ana Paula project. ON DEALS AND CORPORATE ISSUES, Torex Gold suspended its workforce employment contracts on the basis of the illegal blockade that has halted all operations since November 3rd at its El Limon-Guajes mine in Guerrero. The company has made a call to the relevant authorities to remove the illegal blockade (which seems to have fallen on deaf ears). Orex Minerals, Canasil Resources and Pan American Silver signed an agreement to advance the Sandra Escobar project in Durango, same that includes provisions for Pan American participation on the discovery. Gainey Capital signed a LOI to acquire the La Minita property in Sinaloa. Marlin Gold can now spin-off its subsidiary Sailfish Royalty. Vangold is acquiring the San Carlos claim in Guanajuato, adjacent to its Pinguico property. Americas Silver agreed with Hochschild to amend the payment schedule on the acquisition of the San Felipe project in Sonora.

ON MEXICO ISSUES

  • On the Torex Gold El Limon – Guajes mine illegal blockade in Guerrero (Editor’s comment). The illegal blockade promoted by the Los Mineros Union since November 3, 2017 is showing how far the government is willing to go, or not, to establish the rule of law. The Los Mineros Union is clearly trying to extortionate Torex with an illegal blockade to obtain the Union contract at the site, and delaying the date for a formal voting process that the company has vowed to respect.

ON EXPLORATION

  • Radius Gold Inc. released rock sampling results from its Amalia project in Chihuahua. A new discovery in the San Pedro area returned 13 m @ 2.51 g/t Au, 164 g/t Ag in a continuous chip sample (10 individual samples), while new sampling 50 m above and along strike the Guadalupe zone returned 8 m @ 0.21 g/t Au, 264 g/t Ag. At the Campamento zone a 500×700 m zone of intense silicification and brecciation with massive and stockwork veining is interpreted as high level mineralization. On lower parts of the property sulfide rich fault breccias are hosted in andesites, where mineralization is narrower and higher grade. Epithermal Au-Ag mineralization occurs along 3.5 Km on strike and 600 m of vertical interval. Drill permitting documentation has been submitted.
  • Gainey Capital Corp. signed a LOI to acquire the 9,200 hectares La Minita Cu-Au-Ag property in Sinaloa. A series of NW trending shears host porphyry mineralization associated with intermediate and felsic dikes, which are more than 300 m in length and up to 10 m in width. Fine grained sericitic alteration, silicification, quartz stockworks and copper sulfides (bornite, chalcopyrite) as disseminations and veins occur in prospect pits by gambusinos.

ON MINING

  • Great Panther Silver Ltd. announced that SEMARNAT granted all permits for construction and operation of the new phase II tailings storage facility at its Topia mine in Durango.
  • Mexus Gold US informed that it has produced gold with the installed Merrill Crowe system at its Santa Elena mine in Sonora (not to mistake with First Majestic’s Santa Elena mine, also in Sonora). The Merrill Crowe system will continue to be tested until the end of the year, as mine site security is upgraded before full production begins.
  • Americas Silver Corp. announced that the San Rafael mine at the company’s Cosalá operations in Sinaloa is now in commercial production, as of December 19, 2017. Mine production is currently averaging 1,200 tonnes per day (tpd) and increasing.

ON FINANCING

  • Telson Resources Inc. entered into a loan facility and offtake agreement with Trafigura Mexico, S.A. de C.V., to sell 100% of the Pb-Zn concentrate produced at the Tahuehueto mine from January 2018 to December 2022. Trafigura provided Telson with with a US$15 M credit facility deliverable on three tranches: First tranche of US$7.5 M already received; Second tranche of US$5 M, 4 – 6 Months from signing; Third tranche US$2.5 M, 6 – 9 months of signing.
  • SilverCrest Metals Inc. completed the bought deal private placement previously announced, for gross proceeds of $10 M. The company paid a cash commission of $568 K on the proceeds of the offering.
  • Primero Mining Corp. agreed with its lenders to an extension of its revolving credit facility and guarantee provided by Wheaton Precious Metals Corp. to January 11, 2018. Primero is considering the divestiture of its San Dimas mine in Durango.
  • Torex Gold Resources Inc. has received a waiver by BNP Paribas on behalf of the lenders to lower the covenant threshold in the credit agreement from $50 M to $30 M until January 31, 2018.

ON RESOURCES AND DEVELOPMENT

  • Alio Gold Inc. provided the final results from the 2,000 m drill program to twin previous drill holes within the pre-feasibility pit for metallurgical test at its Ana Paula project in Guerrero. Highlighted intervals comprise: 112.0 m @ 3.85 g/t Au; 33.1 m @ 7.07 g/t Au; 54.6 m @ 7.19 g/t Au. Alio is now to test the extension of the breccia zone below the proposed pit, with a 4,000 m program, commencing in January.
  • Almaden Minerals Ltd. provided assay results from a follow-up drilling in an upper portion of the pre-feasibility pit on its Tuligtic property in Puebla. Highlighted drill intercepts comprise: 46.0 m @ 0.74 g/t Au, 26 g/t Ag; 24.0 m @ 0.62 g/t Au, 15 g/t Ag; 16.5 m @ 0.56 g/t Au, 10 g/t Ag; 50.5 m @ 0.73 g/t Au, 11 g/t Ag (including 10.5 m @ 2.45 g/t Au, 24 g/t Ag); 13.15 m @ 0.70 g/t Au, 8 g/t Ag; 32.0 m 0.82 g/t Au, 25 g/t Ag; 14.7 m @ 0.91 g/t Au, 27 g/t Ag; 10.25 m @ 1.16 g/t Au, 26 g/t Ag.
  • Consolidated Zinc Ltd. announced that drilling on the Tres Amigos North zone intersected 5.60 m and 4.35 m respectively of massive sulfides. “Assays are pending but visual analysis shows mineralisation comprises banded textured massive sulphides with very fine to fine-grained pyrite overprinted by coarse-grained yellow to reddish sphalerite and minor galena associated with carbonates”. Results are pending.
  • Oceanus Resources Corp. completed the fall 2017 drill program which comprised 600 m of diamond drilling to define the strike and dip of the high-grade Caleigh vein and the low-grade alteration zone in the hanging wall. Assays for the last six holes are pending, and expected to be released in January 2018. Work during Q1 2018 is to focus in locating and defining other high-grade vein systems in the property, and begin to look for mineralization on the favorable El Tigre formation over a distance of 5 km.

ON DEALS AND CORPORATE ISSUES

  • Torex Gold Resources Inc. informed it has suspended the employment contracts of its workforce in Mexico, a direct result of an illegal blockade at its El Limon-Guajes mine in Guerrero. The blockade by the Los Mineros Union, “an outside union that wants to take over representation of the employees who already have a union. Since the blockade began, on November 3, 2017, the Company has continued to pay its workforce, except for the minority that have participated in the illegal blockade”. Torex has made a call to the relevant authorities to remove the illegal blockade, as they have committed to do, and restore the rule of law. The company is willing to work with the Union the employees select, but it is essential the illegal blockade is lifted to resume work after Christmas. The company stresses that “The risk of violent confrontation continues to escalate and we urge the authorities to restore law and order and diffuse the tensions, so that employees of the Company, contractors, and suppliers, can go back to work and provide for their families.”
  • Orex Minerals Inc. signed a non-binding agreement with Canasil Resources Inc. and Pan American Silver Corp. to advance exploration in the Sandra Escobar mining camp in Durango. Under the terms of the LOI (Letter of Intention) the Orex (55%)-Canasil (45%) JV is to grant Pan American a 10% interest in the Sandra property, with the opportunity for Pan American in the next four years to earn-in an additional 41% in the Sandra property by contributing US$5 M toward the operations of both properties, with US$2 M required during the first two years. If Pan American elects not to continue during the earn-in period, the initial 10% will revert back to the Orex-Cansil JV. If Pan American chooses to further advance the properties by completing a pre-feasibility study, it will retain a 60% interest and the Orex-Canasil JV 40%.
  • Gainey Capital Corp. signed a LOI with Asteria Mining Services S.A.P.I. de C.V. to acquire 100% of the 9,200 hectares La Minita Cu-Au-Ag property in Sinaloa.
  • Marlin Gold Mining Ltd. obtained a final order from the Supreme Court of British Columbia to implement the company’s previously announced plan of arrangement to reorganize its business, including the spin-off of its subsidiary Sailfish Royalty Corp.
  • Vangold Mining Corp. entered into an acquisition agreement for a 100% interest on the San Carlos claim, in Guanajuato. The aggregate purchase price of $CDN425 K is to be paid through the issuance of CDN$350 K in Vangold shares and the remaining CDN$75 K will be paid in cash. The San Carlos property is close to Vangold’s El Pinguico and Patito I & II mineral claims.
  • Americas Silver Corp. agreed with Minera Hochschild to amend the timing of payment under its option agreement on the San Felipe project in Sonora. The total consideration for a 100% interest in the property is US$15 M in cash (plus VAT), of which US$7 M were paid in March, US$500 K are to be paid on January 2018, US$500 K on April 2018, US$1 M on July 2018 and US$6 M on December 2018.

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, Fault slickensides on quartzite, Durango. Photo by Jorge Cirett.

DCP00749

Highlights on the Fourth Week of November, 2017. Mineral Exploration in Mexico

During the 47th week of the year (November 20th to November 26th, 2017), at least 32 press releases were announced by companies working in Mexico. ON MEXICO ISSUES: No relevant news. ON EXPLORATION: six companies informed on exploration efforts during the week: In Sonora Azure Minerals reported favorable metallurgical results from its Oposura project. In Chihuahua Monarca is to acquire the San Jose project; Mammoth Resources mobilized equipment to drill its Tenoriba property. In Sinaloa Starcore is to acquire the Santa Fe project, with an historical Au-Ag resource. Silver Bull released drill results from the sulfide zone at Sierra Mojada; Prize Mining is to acquire the Manto Negro stratabound copper project. Evrim Resources announced the acquisition of the Cuale high sulfidation property. In Veracruz Mexican Gold announced step-out drilling mineralization intercepts at Las Minas. ON MINING: Impact Silver presented its quarterly report. Marlin Gold informed on the mining program at La Trinidad in Sinaloa.  In Zacatecas, operations recommenced at the Santacruz Silver’s Veta Grande mill after the PROFEPA suspension. MX Gold informed on advance at the Magistral tailings project in Durango. Americas Silver informed the San Rafael mine is sourcing all ore treated in Cosalá. ON FINANCING: Telson Resources received $1 M from the exercise of warrants. Aztec Minerals is now trading on the USA. Primero Mining obtained an extension on its revolving credit facility. ON RESOURCES AND DEVELOPMENT: Leagold Mining reported more high-grade results from drilling at Bermejal Underground on its Los Filos property in Guerrero. Stroud Resources announced an updated resource estimate for its Santo Domingo Hostotipaquillo deposit in Jalisco. Almaden Resources released more drill results from the Ixtaca deposit in Puebla.  ON DEALS AND CORPORATE ISSUES: Soleil Capital and Goldplay Exploration are to amalgamate to create a precious metals exploration company focused in Mexico. Monarca Minerals signed a LOI to acquire the San Jose property in Chihuahua. Starcore entered into a LOI to acquire the Santa Fe property in Sinaloa. Camrova Minerals (Baja Mining) has seen its interest on El Boleo property (in Baja California) reduced to 7.3%. Bacanora Minerals is involved in a lawsuit over a 3% royalty on its Sonora lithium project. Golden Goliath has received the fifth payment on the option of its Uruachic properties. Prize mining is to acquire the Manto Negro project in Coahuila from Scion Mines.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Azure Minerals Ltd. reported metallurgical results from its Oposura project in Sonora. The test returned over 70% and 80% recoveries respectively for Pb and Zn, producing a lead concentrate (>55% Pb, 360 g/t Ag) and a zinc concentrate (>55% Zn) with low levels of deleterious elements. More metallurgical studies will be undertaken on core material from the present drill campaign.
  • Monarca Minerals Inc. entered into a letter of intent (LOI) to acquire the San Jose property in Chihuahua. The 5,580 hectares project shows disseminations, stockwork and veins of skarn, gossan and altered intrusive rocks, with assays of up to 26.8 g/t Au, 161 g/t Ag, 6.5% Pb, 0.9% Zn, 4.2% Cu.
  • Starcore International Mines Ltd. entered into a letter of intent (LOI) with Eduardo de la Peña Gaitan and other owners, to acquire the 21,000 hectare Santa Fe project in Sinaloa. Previous exploration included 13,000 m of drilling in 2013, establishing an historical (Non 43-101 compliant) open pit resource of 285 K AuEq Oz in 5 M tonnes @ 89 g/t Ag, 0.56 g/t Au; or an underground resource of 225 K AuEq Oz in 1.28 M tonnes @ 266 g/t Ag, 1.83 g/t Au.
  • Mammoth Resources Corp. has mobilized a drill rig and a bulldozer to its Tenoriba property in Chihuahua. The company is to begin a 3,000 m drill program in 8 to 24 holes to test gold-silver targets on a 5 km strike length within a 15 square Km area of ubiquitous high sulfidation gold mineralization. The company announced the release of a technical report on the drill selection criteria.
  • Silver Bull Resources Inc. released results from four drill holes testing the sulfide zone below the previously defined oxide zone on its Sierra Mojada project in Coahuila. Highlighted results comprise 9 m @ 20.7% Zn, 1.0% Pb, 98 g/t Ag, 0.26% Cu, including 3.65 m @ 47.8% Zn, 2.5% Pb, 105 g/t Ag, 0.26% Cu; 3 m @ 537 g/t Ag, 3.9% Zn, 1.1% Cu, including 1 m @ 1,280 g/t Ag, 14.8% Zn, 2.3% Cu.
  • Prize Mining Corp. entered into an agreement (see the appropriate section below) to acquire the Manto Negro copper project in Coahuila. The project consists of seven mining concession covering 17,959 hectares. “The Project is identified as a stratabound Cu-Ag (+/- Pb-Zn) oxidized “Red Bed type” copper deposit… The Project area is hosted by Cretaceous carbonates and sandstones with exposures of mineralization being identified in numerous locations occurring in concordant layers ranging from 2 to 23 metres thick that are referred to as “Mantos”. Exposures of this mineralization have been identified over the 50-kilometre length of the Project.” The grades of historical sampling, trenching and drilling range from 0.73% to 5.55% Cu, 19 to 793 g/t Ag, 1.5 to 15% Pb and 0.3 to 3.64% Zn.
  • Mexican Gold Corp. announced that drilling to expand the high-grade dike contact mineralization previously encountered at its Las Minas project in Veracruz has successfully intersected long intervals of chalcopyrite-magnetite mineralization in five additional holes. Core length intervals include: 0 m; Cumulative 48.0 m; 20.3 m; cumulative 28.0 m, 28.0 m of chalcopyrite-magnetite mineralization.
  • Evrim Resources Corp. announced the acquisition and early exploration results of the 97 square kilometer Cuale gold project in Jalisco. The Cuale project was initially staked under the Callinan Royalties generative alliance (now owned by Altius Minerals Corp.) with formal title granted to Evrim for 100% ownership in November 2017. “Mineralization is found in moderately to strongly silicified rhyolite that contains up to 10% specular hematite in boxworks, interpreted to have formed after pyrite. Zones of pervasive silicification with strong clay alteration of phenocrysts trending to vuggy silica are observed..” Seven rock chip samples collected on a 500 m by 250 m zone returned from 0.19 to 4.56 g/t Au.

ON MINING

  • Impact Silver Corp. released its financial and production third quarter 2017 report. Production at the Guadalupe mill came primarily from the San Ramon Deeps, Cuchara and San Patricio mines. Highly variable ore from the San Ramon Deeps mine contributed to the lower grade mill feed @ 175 g/t Ag. Total silver production was 229.9 K Oz. Exploration work is focused on the Alacran, Alacran North, San Ramon North and El Paso vein. The company had a $6.0 M cash position at the end of the period.
  • Marlin Gold Mining Ltd. informed that most of the mining during the year at La Trinidad, in Sinaloa, focused on expanding and deepening the north side of the Taunus pit, while waste removal continues on the southern part of the pit. Up to the end of October, 35,500 Oz Au have been shipped. Drilling commenced at the Colinas target, 1.2 km south of the pit.
  • Santacruz Silver Mining Ltd. recommenced operations at its Veta Grande mill in Zacatecas, following the authorization by PROFEPA and SEMARNAT (Environmental agencies in Mexico).
  • MX Gold Corp. informed all major tankage at the Magistral tailings project in Durango has been installed, with the grinding mill scheduled for completion in Early December 2017, and the installation of the Merrul-Crowe circuit underway.
  • Americas Silver Corp. informed production from the San Rafael mine at the company’s Cosalá operations in Sinaloa is now the sole source of mill feed. The mine is currently producing over 1,000 tonnes per day (tpd) of the targeted 1,500 tpd, with a stockpile of over 25 k tonnes from San Rafael and further 50 K tonnes of ore from Nuestra Señora.

ON FINANCING

  • Telson Resources Inc. reported that all the warrants issued as part of a private placement on November 2015 have been exercised, resulting in CAD$1 M in proceeds (Tahuehueto, Durango; Campo Morado, Guerrero).
  • Aztec Minerals Corp. has been approved to commence trading in the USA as of Nov 20th 2017, on the OTCQB under the symbol AZZTF (Cervantes, Sonora).
  • Primero Mining Corp. has agreed in principle with its lenders to an extension to its revolving credit facility and guarantee provided by Wheaton Precious Metals Corp., previously maturing on November 23, 2017. The facility has been extended to December 1, 2017, providing the company to continue negotiations on its strategic review process and the possible divestiture of its San Dimas mine in Durango.

ON RESOURCES AND DEVELOPMENT

  • Leagold Mining Corp. reported additional high-grade results from the Bermejal Underground drill program at the Los Filos mine in Guerrero. “Bermejal Underground is at the northern end of a large intrusive body which has a total circumference of at least 15 kilometres…” The area being drilled extends 1,600 m along the strike of the intrusive contact and has a vertical depth extent of over 800 m. The drilling shows consistent oxide mineralization at carbonate/intrusive contacts either along the intrusive contact or below the intersection between the sill and the Bermejal intrusive contact. An updated resource estimate is expected before year end.

Leagold Bermejal Underground drilling1

  • Stroud Resources Ltd. updated the resource estimate in a new technical report on its Santo Domingo Hostotipaquillo project in Jalisco. The reports confirms the presence of 6.1 M tonnes @ 0.47 g/t Au, 101 g/t Ag and 3.48 M tones @ 0.39 g/t Au which contain 91.6 K Oz Au, 19 M Oz Ag as measured and indicated resources and 43.2 K Oz Au, 10 M Oz Ag as inferred resources. La Raya vein has a mineralized zone 35 m wide over 700 m along strike and 300 m of depth; and the Guadalupe vein is typically 15 to 30 m wide. Five additional veins have been identified for further exploration.
  • Almaden Minerals Ltd. released drill results from its ongoing exploration and development program for the feasibility study (FS) of the Ixtaca deposit at its Tuligtic project in Puebla. Two holes confirmed the discovery of an ore zone within a portion of the pit considered waste in the prefeasibility study (PFS). The holes intersected 23 m @ 0.45 g/t Au; 38.6 m @ 7.92 g/t Au, 15 g/t Ag (including 1 m @ 237 g/t Au, 232 g/t Ag); 20.4 m @ 0.89 g/t Au, 12 g/t Ag (including 7.0 m @ 2.07 g/t Au, 20 g/t Ag).

ON DEALS AND CORPORATE ISSUES

  • Soleil Capital Corp. entered into an amalgamation agreement with Goldplay Exploration Ltd. on a business combination transaction. “The purpose of the Proposed Transaction is the creation of a public, TSX Venture Exchange-listed, Mexico-focused, precious metals exploration company utilizing Goldplay’s mineral exploration strategy and experience related to the Rosario District..” in Sinaloa. Upon completion of the transaction the resulting issuer will be named Goldplay Exploration Ltd. and will be listed as a Tier 2 Mining Issuer on the Exchange.
  • Monarca Minerals Inc. entered into a letter of intent (LOI) to acquire the San Jose property in Chihuahua. The 5,580 hectares project shows disseminations, stockwork and veins of skarn, gossan and altered intrusive rocks. The terms of the LOI include a US$20 K payment on execution of the LOI (paid), US$20 K on execution of the definitive agreement, US$50 K on the first anniversary, and US100 K on the second anniversary, with the owners retaining a 2% NSR, of which one percent can be purchased by Monarca for US$100 k. Back taxes on the property of US$390 K will be paid over a period of time. Concession taxes per year are approximately US$46 K.
  • Starcore International Mines Ltd. entered into a letter of intent (LOI) with Eduardo de la Peña Gaitan and other owners, to acquire the 21,000 hectare Santa Fe project in Sinaloa. Starcore has up to 120 days to conduct due diligence work, and 30 days to complete the acquisition. Starcore is to issue 5 M shares to the owners upon signing, and will be released on four installments, and pay US$6 M as follows: US$2 M on execution; US$1 M on 18 months; US$1 M on 36 months; US$1 M on 48 months; US$1 M on 60 months.
  • Camrova Resources Inc. (Baja Mining Corp.) informed that its interest in Minera y Metalurgica del Boleo S.A. P.I, de C.V. has been reduced from 10% to 7.3%. This is a result of Korea Resource Corporation funding Camrova’s pro rata ($42.9 M) on cash calls amounting $429 M. The Boleo project is to annually produce 30 K tonnes Cu, 700 tonnes Co, 10,500 K tonnes Zn sulfate (Boleo, Baja California).
  • Bacanora Minerals Ltd. announced that it filed a statement of claim seeking to void ab initio, a 3% gross over-riding royalty held by the Estate of Colin Orr-Ewing over certain of Bacanora assets in Sonora. The company also announced amendments to the employment arrangements of certain members of the executive management firm.
  • Bacanora Minerals Ltd. has been served by the estate of the late Ian Colin Orr-Ewing with legal proceedings filed on September 20th September 2017, on a dispute regarding the ownership of 3% gross overriding royalties over Bacanora’s Sonora Lithium project and Magdalena Borates project. The Estate currently owns 8.15% of the common shares of Bacanora.
  • Golden Goliath Resources Ltd. has now received the fifth in a series of seven optional payments from Fresnillo PLC for the properties optioned to them in the Uruachic mining district in Chihuahua. This $100 K payment is to be followed by another $100 k due on May 2018 and a final US$2.3 M payment on November 2018, if Fresnillo is to keep the property. Golden Goliath plans to use the final payment to pay for the drill program on its 100% owned San Timoteo property in Chihuahua.
  • Prize Mining Corp. entered into an agreement with Scion Mines S.A. de C.V. to acquire 100% interest in the Manto Negro copper project in Coahuila, by issuing 6 M shares with a restricted lock-up and restricted resale period. Six million shares more are to be issued if the next milestones are met on a 43-101 technical report: 2 M bonus shares if the estimated copper resource is over 500 M Lb; 2 M bonus shares if the estimated copper resource is over 750 M Lb; 2 M bonus shares if the estimated copper resource is over 1 B Lb.

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, magnetite-chalcopyrite mineralization on drill core from Las Minas, Veracruz. Photo by Mexican Gold Corp. on its Nov 23rd, 2017 press release.

Core from Las Minas, Veracruz, photo from press release in Nov 2017

Mexican Gold Intersects Long Intervals of Mineralization in Five Additional Diamond Drill Holes at El Dorado Dike Contact Zone

MGC-2017-11-23

THUNDER BAY, Ontario, Nov. 23, 2017 (GLOBE NEWSWIRE) — Mexican Gold Corp. (“Mexican Gold” or the “Company”) (TSX-V:MEX) (OTCMKTS:SRXLF) (FRA:4QW1) is pleased to announce that drilling to expand the high-grade dike contact mineralization outlined in hole LM-17-ED-40 has successfully intersected long intervals of chalcopyrite-magnetite mineralization in five additional recently completed holes. All of the holes intersected mineralization, with core intervals varying from 21 metres to 42 metres in length. The mineralization is located adjacent to and on both sides of the 70 metre wide dike with a known strike distance of 700 metres. The Eldorado/Juan Bran Zone has also been found to thicken substantially approaching the dike, which appears to be a vertical offshoot from the main El Dorado Sill.