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

Cervantite crystals in jasperoids

By Miguel A Heredia

During the thirty one week of the year (July 29th to August 4th, 2019), at least 37 press releases were announced by companies working in Mexico, with twelve communicating production results, nine disclosing deals and corporate issues, six announcing financial rounds, five reporting on resources and development of their projects, two informing on exploration results, and one commenting on Mexican issues.   ON MEXICO ISSUES, Mexican president, Andres Manuel Lopez Obrador, declared that the mining sector will face several legislative and state government proposals to tighten environmental restrictions and raise taxes.   ON EXPLORATION, In Jalisco, GoGold released drilling results from four new holes at its Los Ricos project, and Silver Spruce confirmed high grade Au mineralization at its Cocula project. ON MINING, Alamos Gold, Americas Silver, Azure, Capstone, Consolidated Zinc, Excellon, Fresnillo, Leagold, McEwen, Newmont Goldcorp, Santacruz, and Starcore reported production and financial results from their Mexican mining operations. ON FINANCING, Avino, Chesapeake, Great Panther, Millrock, Sonoro and VVC announced financial rounds. ON RESOURCES AND DEVELOPMENT, Capstone provided an update on the development of its one-way ramp system at Cozamin mine in Zacatecas, to increase Cu output by the end of 2020. It also initiated a large in-fill drilling program to reserve conversion. Goldplay announced drilling results from the first hole drilled at the Faisanes target, adjacent to the western edge of its San Marcial NI43-101 resource in Sinaloa.  Pan American Silver announced results from the exploration drilling completed over the past three months at its La Colorada mine in Zacatecas. Silver Bull provided results from five new holes drilled to test possible extensions at depth to the main deposit at its Sierra Mojada project in Coahuila. Sonoro filed a technical report on its Cerro Caliche project in Sonora, to present an estimate of mineral resources. SSR Mining commented that is reviewing drill programs and engineering studies to identify additional zones and continuity of high-grade mineral resources at its Pitarrilla project in Durango. ON DEALS AND CORPORATE ISSUES, Starcore entered into an agreement covering the sale of its processing facility in Matehuala, San Luis Potosi. Aztec Minerals completed the terms of its earn-in and exercised its option to acquire 65% interest in the Cervantes project in Sonora.   Bacanora Lithium provided an update on the strategic investment by Ganfeng Lithium (Sonora Lithium project, Sonora).  Discovery Metals completed the acquisition of Levon Resources (Cordero project, Chihuahua).  One World Lithium announced the engagement of Montgomery and Associate to assist them as consultant on its Salar del Diablo project in Baja California Norte. Sierra Metals announced management changes (Bolivar mine, Chihuahua). Gold Resource declared July monthly dividend to its shareholders (El Aguila mine, Oaxaca). Peñoles stock sinked more than 10% in the Mexican Stock Exchange.

 ON MEXICO ISSUES

  • Mexican president Andres Manuel Lopez Obrador, declared that the mining sector will face several legislative and state government proposals to tighten environmental restrictions, raise taxes, regularize rights payments and give greater voice and vote to communities where companies have or intend to establish extraction projects. Fernando Alanis Ortega, president of CAMIMEX and general director of Industrias Peñoles commented that “there have been complicated initiatives that show a deep ignorance of what our sector is. It is important to have more executive work within the legislature to have a better coordination in the initiatives”.

ON EXPLORATION

  • GoGold Resources Inc., released drilling results of new four holes from the ongoing drilling program at its Los Ricos project in Jalisco. To date, 41 holes have been drilled for a total of 5,522m. Significant intersections were encountered in hole LRGG-19-18 (the deepest hole to intersect Los Ricos vein to date) with 21.4m of 0.81 g/t Au and 170 g/t Ag (3.08 g/t AuEq), including 12.9m of 1.24 g/t Au and 262 g/t Ag (4.74 g/t AuEq), including 7.5m of 1.78 g/t Au and 342 g/t Ag (6.35 g/t AuEq); hole LRGG-19-019 with 4.5m of 1.5 g/t Au and 197 g/t Ag (4.13 g/t AuEq, followed by 2.2m of open stope, to continue with 13.8m of 0.63 g/t Au and 86 g/t Ag (1.78 g/t AuEq), including 4.2m of 1.52 g/t Au and 198 g/t Ag (4.17 g/t AuEq); hole LRGG-19-020 with 14.9m of 1.78 g/t Au and 106 g/t Ag (3.2 g/t AuEq), including 7m of 3.48 g/t Au and 156 g/t Ag (5.55 g/t AuEq); and hole LRGG-19-021 with 7.5m of 0.09 g/t Au and 18 g/t Ag (0.33 g/t AuEq), followed by 6m of open stope, to continue with 15.6m of 1.15 g/t Au and 113 g/t Ag (2.67 g/t AuEq), including 6.5m of 2.38 g/t Au and 236 g/t Ag (5.54 g/t AuEq). GoGold plans to complete 10,000m of drilling at the property.
  • Silver Spruce Resources Inc., received results from a first set of fifteen RC drilling samples and from a second set of eight surface samples and four RC samples for due diligence purposes to confirm grades reported previously by Timmins Gold (now Alio Gold) at the advanced Au Cocula project in Jalisco. Re-assays showed a good correlation with those results reported previously by Timmins.

ON MINING

  • Alamos Gold Inc., presented production and financial results for the period Q2, 2019 from their Mulatos and Chanate mines in Sonora. At its Mulatos mine, the company processed 2,107,590 tonnes of 0.94 g/t Au to produce 36.3K Oz Au and sold 40.12K Oz Au. Sale cost per Oz Au produced was $725 for an AISC of $1,257 per Oz Au. At its Chanate mine (transitioned to residual leaching in October, 2018), Alamos produced 4,400 Oz Au and sold 4,376 Oz Au. Production cost was $1,234 USD per Oz Au for an AISC of $1,257 per Oz Au. The company expects to produce 150K-160K Oz Au at Mulatos mine and over 15K-25K Oz Au at El Chanate during 2019.
  • Americas Silver Corporation, announced Q2, 2019 production and operating cost results from its Cosala mine operation in Sinaloa. It processed 156,998 tonnes of 49 g/t Ag to produce 145.4K Oz Ag, 11.15M Lb Zn, and 4M Lb Pb (1.3M Oz AgEq), at a cash cost of $18.27 per Oz Ag and AISC of 11.66 per Oz Ag.
  • Azure Minerals Limited, reported that during Q2, 2019 over 1,200 tonnes of ore have been mined and stockpiled from its Oposura project in Sonora, with an estimated grade to be between 10-15% combined Zn+Pb. Ore will be processed under a toll treatment agreement through the nearby San Javier sulphide flotation processing facility. Ore transport will start in August and processing is expected to start in September.
  • Capstone Mining Corp., released production and financial results for the period Q2, 2019 from its Cozamine mine in Zacatecas. Capstone milled 284K tonnes of 1.48% Cu, 0.96% Zn, and 45 g/ton Ag to produce 8.72M Lb Cu, 3.84M Lb Zn, and 323K Oz Ag. Metallurgical recoveries were 94.1% for Cu, 64.2% for Zn, and 77.3% for Ag. Site operating cost was $47.71 per tonne milled, with cash cost of $1.06 per Lb Cu produced. The company reported revenue of $24.3M for an EBITDA of $9.3M.
  • Consolidated Zinc Limited, reported Q2, 2019 production and financial results from its Plomosas mine in Chihuahua. It mined 15,881 tonnes of 14.8% Zn, 6.7% Pb, and 35 g/t Ag, and processed 10,273 tonnes of 13.2% Zn, 4.7% Pb, and 35 g/t Ag, for a total of 3M Lb Zn, 1M Lb Pb, and 11.6K Oz Ag contained. From this total metal contained, only 1.3M Lb Zn, 334K Lb Pb, and 4KOz Ag was sold with cash cost of $0.78 per Lb Zn produced. 742 tonnes of Zn concentrate and 246 tonnes of Pb concentrate were stockpiled and will be available for sale at June 30, 2019.
  • Excellon Resources Inc., presented Q2 and H1, 2019 production and financial results from its La Platosa mine in Durango. It processed 19,964 tonnes of 514 g/t Ag, 5% Pb, and 7.4% Zn during Q2, 2019 for a total of 38,183 tonnes of 523 g/t Ag, 5% Pb, and 7.7% Zn in H1, 2019. Total production in Q2, 2019 was 276.8K Oz Ag, 1.8M Lb Pb, and 2.8M Lb Zn (583K Oz AgEq), for a total of 537.2 Oz Ag, 3.14M Lb Pb, and 4.5M Lb Zn (1M Oz AgEq) during the period H1, 2019. Excellon reported a production cost of $304 and $204 per tonne for Q2 and H1, 2019 respectively. Cash cost per Oz Ag produced was $9.18 and 10.06 for the periods Q2 and H1, 2019 respectively, with an AISC per Oz Ag payable of $16.89 and $19.82 respectively. The company had revenues for $8.67M and $13.85M for the periods Q2 and H1, 2019 respectively.
  • Fresnillo plc., announced consolidated production and financial results for the period H1, 2019 from their Mexican operations. Fresnillo produced 27.56M Oz Ag (including a Ag stream production of 1,548 Oz Ag), 432.4K Oz Au, 56.4M Lb Pb, and 95M Lb Zn. Adjusted revenue of USD $1,069M were reported with an EBITDA of USD $307.9M for a total profit for the period of USD$ 70.9M. The company also presented production results by mine for H1, 2019. At Fresnillo mine, Zacatecas, 1,194,199 tonnes were processed with grades of 187 g/t Ag, 0.86 g/t Au, 0.85% Pb, and 1.5% Zn for a total of 6.4M Oz Ag, 25K Oz Au, 19.6M Lb Pb, and 26.8M Lb Zn. At Saucito mine, Zacatecas, Fresnillo processed 1,327,673 tonnes of 243 g/t Ag, 1.14 g/t Au, 0.9%Pb, and 1.6% Zn to produce 8.8M Oz Ag, 36.7K Oz Au, 23.4M Lb Pb, and 33.7M Lb Zn. At its Pyrites Plant, it processed 87K tonnes of 305 g/t Ag and 2.31 g/t Au to produce 638K Oz Ag and 2,315 Oz Au. At Cienega mine in Durango, the company processed 650,107 tonnes of 1.55 g/t Au, 163 g/t Ag, 0.6% Pb, and 1% Zn to produce 29.7K Oz Au, 2.9M Oz Ag, 5.2M Lb Pb, and 8.6M Lb Zn. At the San Julian mine in Chihuahua-Durango border, Fresnillo processed 661,680 tonnes of 1.74 g/t Au and 120 g/t Ag from San Julian Veins to produce 35.3K Oz Au and 2.3M Oz Ag, while 1,107,875 tonnes were processed from the San Julian Disseminated Ore Body with grades of 0.08 g/t Au, 137 g/t Ag, 0.4% Pb, and 1.4% Zn, to produce 1,143 Oz Au, 4.2M Oz Ag, 8.1M Lb Pb, and 25.9M Lb Zn. Total production at San Julian was 36.4K Oz Au and 6.5M Oz Ag. At its Noche Buena mine in Sonora, the company processed 6,575,328 tonnes of 0.53 g/t Au and 0.2 g/t Ag to produce 65.4K Oz Au and 29K Oz Ag.
  • Leagold Mining Corporation, reported production and financial results from its Los Filos mine in Guerrero for the period Q2, 2019. Leagold reported Au production and sales for 44.9K Oz Au and 47K Oz Au respectively, at a cash cost of USD $853 per Oz Au sold and AISC of USD $978 per Oz Au sold for an associated revenue of USD $59.9M. Au production and sales were 108.9K Oz Au and 112.9K Oz Au respectively for the period H1, 2019, for revenue of USD $144.1M and AISC of USD $846 per Oz Au sold.
  • McEwen Mining Inc., announced production and financial results from its El Gallo mine in Sinaloa for the period Q2, 2019. The company produced 5.4K GEOs (Au Eq ounces) at cash cost of USD $967 per Oz Au and AISC of USD $989 per Oz Au produced. Total production in H1, 2019 reached 23K GEOs at cash cost of USD $724 per Oz Au and AISC of USD $776 per Oz Au produced.
  • Newmont Goldcorp Corporation, announced Q2, 2019 production and financial results from its Peñasquito mine in Zacatecas. It produced 165K GEOs, 245M Lb Zn, 180M Lb Pb, and 25M Oz Ag at cash cost of USD $820 per Oz Au and AISC of USD $1,095 per Oz Au produced.
  • Santacruz Silver Mining Ltd., presented Q2, 2019 production results from their Veta Grande mine in Zacatecas and El Rosario mine in San Luis Potosi. At Veta Grande mine, Zacatecas, it processed 37,156 tonnes of 101 g/t Ag, 0.21 g/t Au, 1.1% Pb, and 2.1% Zn, to produce 73K Oz Ag, 138 Oz Au, 826.5K Lb Pb, and 1.36M Lb Zn for a total of 240.2K Oz AgEq. At El Rosario mine in San Luis Potosi, the company processed 20,789 tonnes of 74 g/t Ag, 0.28 g/t Au, 0.4% Pb, and 2.1% Zn to produce 46.1K Oz Ag, 116 Oz Au, 194.9K Lb Pb, and 844.5K Lb Zn for a total of 133.1K Oz AgEq.
  • Starcore International Mines Ltd., reported year end dated April, 30, 2019 production and financial results from its San Martin mine in Queretaro. Starcore milled 301.9K tonnes with grades of 1.63 g/t Au and 86 g/t Ag with metallurgical recoveries of 86.2% and 58.4% respectively, to produce 13.7K Oz Au and 224.5K Oz Ag at an operating cost of USD $58 per tonne and USD $1,081 per Oz Au produced. Total revenues of CAD $32.8M were obtained, including CAD $5.7M of purchased concentrate processing revenue.

ON FINANCING

  • Avino Silver & Gold Mines Ltd., closed a bought deal financing for aggregate gross proceeds of CAD $6M. Net proceeds will be used to advance the exploration and development of its Avino mine in Durango.
  • Chesapeake Gold Corp., announced that it entered in a bought deal private placement financing for gross proceeds of $12M. In addition, Chesapeake also entered into a non-brokered private placement for gross proceeds of $3M (Metates project, Durango).
  • Great Panther Mining Limited, entered in a bought deal financing agreement for gross proceeds of approximately $15M. In addition, Great Panther granted an over-allotment option for gross proceeds of $2.25M (Topia mine, Durango).
  • Millrock Resources Inc., closed the first tranche of a non-brokered private placement for gross proceeds of $1M (Guadalcazar project, San Luis Potosi).
  • Sonoro Metals Corp., completed a non-brokered private placement for gross proceeds of $750K (Cerro Caliche project, Sonora).
  • VVC Exploration Corporation, announced a non-brokered private placement to intend to raise up to CAD $2.5M. Proceeds will be used to pay for exploration and development of its Samalayuca project in Chihuahua, land use permits and associated costs, metallurgical bench testing of copper mineralization, and proposed pilot mining investigation and evaluation process.

 ON RESOURCES AND DEVELOPMENT

  • Capstone Mining Corp., announced that the development of the one-way ramp system is on schedule for completion by the end of 2020, which is expected to increase copper output by 30% to between 40 to 45M Lb per annum. In addition, Cozamin initiated a large in-fill definition drilling program during the quarter that will target resource to reserve conversion to support a doubling of Cozamin’s mine life.
  • Goldplay Exploration Ltd., reported results from the first hole drilled at the Faisanes target, immediately adjacent to the western edge of its San Marcial NI43-101 resource in Sinaloa. Hole SM-19-01 intersected 1m of 204.6 g/t Au and defined a new Au mineralized zone close to surface. Goldplay is actively focused on surface and drilling exploration along the 600 m long Faisanes zone.
  • Pan American Silver Corp., provided results from the exploration drilling completed over the last three months at its la Colorada mine in Zacatecas. The drilling program covered an area of 600m by 300m and delineated skarn/manto zones that are still open laterally and at depth. Four drill rigs operating underground and three drill rigs on surface have completed 11,300m of infill and step-out drilling in the last three months, bringing the total meters drilled to date to 31,000m. Significant drill intersections were encountered in hole U-51-19 with 109 g/t Ag, 0.38% Cu, 1.7% Pb, and 3.8 % Zn over 114m, including 158g/t Ag, 0.59%Cu, 2.6% Pb, and 5% Zn over 58.2m ; hole  U-46-19 with 55 g/t Ag, 0.22% Cu, 3.8% Pb, and 6.6% Zn over 126m, including 74 g/t Ag, 0.44% Cu, 5.4% Pb, and 10.3% Zn over 32.9m; hole U-42-19 with 40 g/t Ag, 0.17% Cu, 1.2% Pb, and 2.8% Zn over 214.2m, including 75 g/t Ag, 0.33% Cu, 3.4% Pb, and 3.5% Zn over 38.3m; hole U-37-19 with 28 g/t Ag, 0.11% Cu, 1.9% Pb, and 3.9% Zn over 45.8m, including 36 g/t Ag, 0.08% Cu, 3.2% Pb, and 3.7% Zn over 18.1m; hole U-35-19 with 41 g/t Ag, 0.3% Cu, 0.9% Pb, and 4% Zn over 82.6m; hole U-29-19 with 67 g/t Ag, 0.23% Cu, 1.5% Pb, and 4.5% Zn over 18.8m; hole U-22.19 with 42 g/t Ag, 0.05% Cu, 0.8% Pb, and 3.9% Zn over 104.7m and 64 g/t Ag, 0.28% Cu, 2% Pb, and 5.8% Zn over 15.1m. Pan American plans to complete 50,000m of drilling and review 12,000 km magnetotellurics geophysics survey to better define the skarn footprint limits.
  • Silver Bull Resources Inc., provided results from five holes drilled to test possible extensions at depth of its Sierra Mojada deposit in Coahuila. Significant intersections were encountered in hole B19005 with 9% Zn, 2.1% Pb, and 16 g/t Ag over 13.25m of massive sulphide mineralization, including 11.9% Zn, 2.8% Pb, and 24 g/t Ag over 5.85m: hole B19004 with 8.1%Zn, 1.8% Pb, and 27 g/t Ag over 46.23m, including 8.1% Zn, 1.8% Pb, and 27 g/t Ag over 0.87m: hole B19006 with 7.2% Zn, 1.2% Pb, 195 g/t Ag, and 0.13% Cu over 0.85m. These drill holes are part of an 8,000m surface drilling program to test extensions of the main deposit at Sierra Mojada, Coahuila.
  • Sonoro Metals Corp., filed a NI43-101 technical report on its Cerro Caliche project in Sonora in which reported inferred resources of 11,470,000 tonnes of 0.49 g/t Au and 4 g/t Ag (or 0.55 g/t AuEq) to contain a total of 183K Oz Au and 1.6M Oz Ag (or 201K Oz AuEq). “The estimate of mineral resources is based on a total of 21,091 meters of RC drilling in 200 holes. Of these, 10,328m in 96 holes were drilled by Sonoro, plus 7,725m in 86 holes were drilled by Corex Gold and 3,038m in 18 holes were drilled by Paget Southern, both previous operators of the Cerro Caliche project”.
  • SSR Mining Inc, informed that is reviewing drill programs and engineering studies to identify additional zones and continuity of high-grade mineral resources at its Pitarrilla project in Durango. It is also evaluating contractors to extend the existing underground access and drill these areas.

 ON DEALS AND CORPORATE ISSUES

  • Starcore International Mines Ltd., entered in an agreement to cover the sale of its subsidiary Altiplano Goldsilver SA de CV, which owns the processing facility in Matehuala, San Luis Potosi. Terms of the transaction includes a deposit of USD $0.5M; a payment of USD $0.5M on August 31, 2019; a payment of USD $200K on November 30, 2019; a payment of USD $200K on February 28, 2020; and a final payment of USD $200K on May 31, 2020. In addition, Starcore informed that reduced its staff by 125 people at its San Martin mine in Queretaro. It will incur in severance cost of USD $600K related to the staff reduction.
  • Aztec Minerals Corp., completed the terms of its ear-in and exercised its option to acquire 65% interest in the Cervantes project in Sonora from Kootenay Silver Inc. Both companies expect to finalize the terms of the JV agreement shortly and form a management committee to review the exploration results to date and approve the next exploration program and budget at Cervantes.
  • Bacanora Lithium plc., provided an updated on the strategic investment by Ganfeng Lithium (GFL) to participate at the Sonora Lithium operation. GFL will acquire 29.99% of Bacanora, and 22.5% of the Sonora Lithium project in Sonora.
  • Discovery Metals Corp., completed the acquisition of Levon Resources Ltd. Based on the agreement, the shareholders of Levon received 0.55% of a common share of Discovery. “Effective on the closing of the Arrangement, there were approximately 168M Discovery shares issued and outstanding (including the conversion of the Subscription Receipts, as described below, and the issuance of 64,412,929 Discovery Shares issued to Levon shareholders pursuant to the Arrangement), and Discovery’s market capitalization is approximately $66M, based on Discovery’s closing price on the TSX Venture Exchange on August 1, 2019”.
  • One World Lithium Inc., announced the engagement of Montgomery and Associates to consult with the company on its exploration program at its Salar del Diablo project in Baja California Norte.
  • Sierra Metals Inc., announced management changes after the departure of its COO (Bolivar mine, Chihuahua).
  • Torex Gold Resources Inc., amended and restated a USD $400M debt facility with bank institutions.  This debt facility is comprised of USD $185M term loan, and USD $150M revolving loan facility. All conditions precedent to the initial advance under the debt have been satisfied as of July 30, 2019, and at that date, the full amount of the term facility and USD $100M of the revolving facility is outstanding ( El Limon-Guajes Mining Complex, Guerrero).
  • Gold Resource Corporation, declared July monthly dividend of 1/6 of a cent per common share to its shareholders (El Aguila mine, Oaxaca).
  • Industrias Peñoles SA de CV, informed that its stock plummeted 58 % in the Mexican Stock Exchange after reporting losses in Q2, 2019 due to the fall of metal prices and production cost increase. The company’s operating flow collapsed 58.4% in said period 2019 against the same period of 2018. Metal operations showed a decrease in volumes: Pb production fell 13.8%, Au 8.8 %, and Ag 4.5%. The exception was Zn, where production grew 15.1%.

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, cervantite crystals after stibnite in jasperoids in a prospect in Durango, Mexico.  Photo by Miguel A Heredia.

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

 

Chalcedonic quartz

By Miguel A Heredia

During the nineteen week of the year (May 20th to May 26th, 2019), at least 19 press releases were announced by companies working in Mexico, with twelve disclosing deals and corporate issues, four reporting on resources and development of their projects, two informing on exploration results, and one discussing Mexican news.  ON MEXICO ISSUES, the Mining Undersecretary of the Secretary of Economy, Francisco Quiroga, said Thursday that the blockade of the Peñasquito mine in Zacatecas is generating millions of dollars in losses.  ON EXPLORATION, In Baja California Norte, One World Lithium has commenced a 12 holes-4,250m RC drilling program at its Salar del Diablo project. In Chihuahua, Ethos released trenching results from its La Purisima project.  ON MINING, no relevant news.  ON FINANCING, no relevant news.  ON RESOURCES AND DEVELOPMENT, Silver One completed a short drilling program next to the historic resource area at its Peñasco Quemado project in Sonora. Endeavour reported results from the 2019 drilling program conducted at its Bolañitos mine in Guanajuato. Goldplay released high grade assays from a surface channel sampling carried out at its San Marcial project in Sinaloa. Impact Silver announced the commissioning of an engineering study at its Capire project in Mexico State.   ON DEALS AND CORPORATE ISSUES, First Majestic and Fresnillo announced results from their annual general meeting of shareholders and proclaimed management changes. Great Panther provided information for its annual general meeting of shareholders (Topia mine, Durango). Santacruz confirmed an earn-in by Carrizal Mining of 20% interest in Santacruz’s Veta Grande Project and agreed to acquire Carrizal Mining.   Minera Alamos strengthened its mine operations team with the appointment of its VP Technical Services (Santana project, Sonora).  Mexus appointed an experienced Chemical Engineer for its Santa Elena mine in Sonora. The Fortuna Silver CEO purchased company shares (San Jose mine, Oaxaca). Excellon announced management changes (La Platosa mine, Durango). Bacanora announced a strategic investment in both corporate Bacanora and its flagship Sonora Lithium project in Sonora.

 ON MEXICO ISSUES

  • Blockade to Peñasquito mine in Zacatecas has generated millionaire losses to the public coffers. The mining undersecretary of the Secretary of Economy, Francisco Quiroga, said Thursday that the blockade of the Peñasquito mine by a truck contractor and members of the Cedros community, is generating millions of dollars in losses to the company as to the public coffers and that the government is in favor of a solution that allows it to continue operating. Peñasquito mine located in Zacatecas State is owned by Newmont Goldcorp and is one of the largest mines in Ag extraction in the world, and the main Au mine in Mexico.

ON EXPLORATION

  • One World Lithium Inc., commenced a 12 holes-4,250 RC drilling program at its Salar del Diablo project in Baja California Norte. Goal of the program is to test geochemical anomalies that cover 150 square km and three highly conductive geophysical zones that cover 54 square km, of which two may be more than 100 and 200m thick. The property has never been drilled before.
  • Ethos Gold Corp., released trenching results from its La Purisima project in Chihuahua. The company completed six trenches totaling a length of approximately 3km on the surface expression of the la Purisima vein zone and the parallel stockwork zone. Significant trench results were encountered in T-1 with 0.49 g/t Au over 118m, including 1.13 g/t Au over 20m, and 0.76 g/t Au over 24m on the La Purisima vein, and separately 4.17 g/t Au over 5.4m on the stockwork zone; T-2 with 0.47 g/t Au over 127m, including 1.11 g/t Au over 40m on the La Purisima vein; and T-3 with 0.84 g/t Au over 10m, and 6.51 g/t Au over 2m both in the stockwork zone.

ON MINING

  • No relevant news.

ON FINANCING

  •  No relevant news.

 ON RESOURCES AND DEVELOPMENT

  • Silver One Resources Inc., completed a short diamond drilling program at its Peñasco Quemado project in Sonora, consisting of 974m in five holes. Goal of the program was to test the potential down-dip and along strike continuity of the Ag-Mn mineralization identified in the area of the historic resource outlined by Silvermex Resources Ltd; investigate the source of the very high zinc and lead in soil anomalies located along strike to the southeast of the historic resource area; and to test geochemical and geophysical anomalies in the west central part of the property. Drilling results indicates the mineralized Ag-Mn system does not extend outside the area of the historic resource.
  • Endeavour Silver Corp., reported drilling results in the Plateros and San Miguel veins from the 2019 drill program conducted at its Bolañitos mine in Guanajuato. The drilling program consisted of 19 holes drilled to mid-April, of which 12 holes intersected high grades over mineable widths and an additional 4 holes intersected old mine workings. Significant drill intersections were encountered in the San Miguel vein just north of the Bolañitos plant in hole MG-10 with 58 g/t Ag and 22.1 g/t Au (1,827 g/t AgEq) over 3.5m true width. “New high-grade vein mineralization has now been delineated over a 250 m length by 130 m depth below and northwest of the old San Miguel mine workings, still open to the northwest”. Also, significant results were encountered in the Plateros vein just west of the Bolañitos plant in hole PLU-20 with 108 g/t Ag and 4.25 g/t Au (448 g/t AgEq) over 2.3m true width. “New high-grade vein mineralization has now been delineated over a 250 m length by 120 m depth below the Plateros mine workings where Endeavour is currently mining, still open at depth and to the southeast”.
  • Goldplay Exploration Ltd., released high grade assays from a surface channel sampling carried out at its San Marcial project in Sinaloa. A significant result of 323 g/t Ag was encountered at the southeastern limits of the San Marcial NI 43-101 resource area suggesting potential for SE extension in the Guacamayo target. The sampling program also identified unrecognized Au potential in addition to the Ag mineralization since it encountered 974 g/t Ag and 2.01 g/t Au over 1m channel samples.
  • Impact Silver Corp., commenced an engineering study to test the viability of dense media separation processing at its Capire project in Mexico State. Positive results from this engineering study could lead to a new operating plan toward placing Capire into production. Capire is an open pit silver-lead-zinc (-copper) deposit located 16 kilometers southwest of IMPACT’s producing Guadalupe Production Center.

ON DEALS AND CORPORATE ISSUES

  • First Majestic Silver Corp, released results from its annual general meeting of shareholders and announced two new appointments: a VP Operation and a VP of Innovation, Processing & Metallurgy (Santa Elena mine, Sonora).
  • Fresnillo plc., announced results from its annual general meeting of shareholders and reinforced its sustainability and community relation area with the appointment of Tomas Iturriaga. It also appointed its new COO and a new member of its Board of Directors (La Herradura mine, Sonora).
  • Great Panther Mining Limited, provided information for its annual general meetings of shareholders to be held on June 24, 2019 (Topia mine, Durango).
  • Santacruz Silver Mining Ltd., confirmed an earn-in by Carrizal Mining of 20% Interest in Santacruz’s Veta Grande Project and further acquisition of the 100% of the outstanding shares of PCG Mining S.A. de C.V. (PCG), which is the holding company that owns 100% of Carrizal outstanding shares. The shares of PCG are owned as to 50% each by two unrelated shareholders. One of the shareholders is at arm´s-length to Santacruz and the other shareholder is Carlos Silva, the Santacruz´s COO. “With respect to the acquisition of PCG shares from the arm’s-length party (the “Arm’s Length Acquisition”), on closing a cash payment by Santacruz of US$500,000 and other consideration in the amount of approximately US$600,000, including the forgiveness of approximately US$450,000 in debt owed by the shareholder to Carrizal; and with respect the acquisition of PCG shares from the Santacruz COO (the “Silva Acquisition”, and together with the Arm’s Length Acquisition, the “Transaction”), on closing the issuance of 30,000,000 shares of Santacruz (the “Consideration Shares”) to Mr. Silva at a deemed price of CDN$0.05 per share”.
  • Minera Alamos Inc., strengthened its mine operations team with the appointment of Carolina Salas as its VP Technical Services. She will oversee final preparations related to the construction of commercial scale gold production facilities at the Santana project in Sonora.
  • Mexus Gold US, appointed an experienced Chemical Engineer for its Santa Elena mine in Sonora.
  • Fortuna Silver Mines Inc., informed that its CEO increased his equity position in the company by acquiring 170K common shares at an average price of US $2.59 per share (San Jose mine, Oaxaca).
  • Excellon Resources Inc., announced the resignation of its CFO and declared that the current VP Finance will serve as interim CFO while the company seeks a permanent replacement (La Platosa mine, Durango).
  • Bacanora Lithium plc, reported a strategic investment in both the corporate Bacanora and its flagship Sonora Lithium project in Sonora by Ganfeng Lithium, the world´s largest lithium metal producer. The strategic investment includes subscription for a 29.99% interest in Bacanora for a cash consideration of £14.4M, in addition to an initial 22.5% direct interest in the Sonora Lithium Project for a cash payment of £7.56M, with an option to increase up to 50% of the project.

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, chalcedonic quartz in a hot spring system in a prospect in Queretaro, Mexico.  Photo by Miguel A Heredia.

First Mining Announces Appointment Of New Chief Operating Officer

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VANCOUVER, BC / ACCESSWIRE / April 24, 2019 / First Mining Gold Corp. (“First Mining” or the “Company”) (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce the appointment of Ken Engquist as the Company’s new Chief Operating Officer, effective April 29, 2019. Mr. Engquist will be based at the Company’s head office in Vancouver, British Columbia, and will be responsible for leading the technical and operations team at First Mining.

SilverCrest Appoints Pierre Beaudoin as COO

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Vancouver, British Columbia–(Newsfile Corp. – November 13, 2018) – SilverCrest Metals Inc. (TSXV: SIL) (NYSE American: SILV) (“SilverCrest” or the “Company”) is pleased to announce the appointment of Pierre Beaudoin as Chief Operating Officer for the Company. Pierre will dedicate his full attention to the development of the Las Chispas property, and as such, he will be stepping down from the SilverCrest Board in December.

TOREX ANNOUNCES THE TRANSITION OF CHIEF OPERATING OFFICER WITH THE APPOINTMENT OF JODY KUZENKO

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TORONTO, Ontario, October 15, 2018 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) announces the appointment of Ms. Jody Kuzenko to the role of Chief Operating Officer, effective October 29th, 2018. There will be a transition
period with Jason Simpson, until November 9th, 2018, when Jason leaves the Company for a CEO role within the industry.

Highlights on the Second Week of October, 2018. Mining and Exploration News in Mexico

Sodic hydrothermal alteration

By Miguel A Heredia

During the 41th week of the year (October 08th to October 14th, 2018), at least 27 press releases were announced by companies working in Mexico, with eight reporting mining activities, seven informing on exploration results, four announcing financing issues, four communicating deals and corporate issues, two making donations to the local communities where they are working, and two reporting on resources and developments.  ON MEXICO ISSUES, Alamos Gold donated an educational center while Fresnillo plc contributed with a community library.  ON EXPLORATION, In Sonora, Minera Alamos reported drilling results from its Santana project, Sonoro Metals announced the launching of a 10,000m RC drilling program at its Cerro Caliche project, and Mexus announced an upcoming drill program at its Santa Elena project. In Chihuahua, VVC released drill results from its Samalayuca project. In Coahuila, Prize Mining reported underground sampling results from its Manto Negro project.  In Zacatecas, Advanced Gold presented drill results from its Tabasquena project. In Jalisco, Evrim received the environmental permit to drill its Cuale project. ON MINING, Capstone, Coeur, Endeavour, Fortuna, Great Panther, McEwen and Sierra Metals reported Q3 2018 results from their Mexican operations. Fortuna also reported overflow problems in the tailings facilities at its San Jose mine in Oaxaca. ON FINANCING, Galore closed a non-brokered private placement for gross proceeds of CDN$ 419.6 K. VVC increased its previous non-brokered private placement to CAD$ 2.5M. Sable raised an aggregate of $4.6M. Telson closed a non-brokered private placement for gross proceeds of $6.8M. ON RESOURCES AND DEVELOPMENT, Americas Silver provided updated mineral reserve and resource estimates for its Cosala operation in Sinaloa. Goldplay announced sampling results of historical core from its San Marcial project in Sinaloa.  ON DEALS AND CORPORATE ISSUES, Sonoro Metals acquired a 100% interest in the Cabeza Blanca concession (Cerro Caliche project, Sonora). Consolidated Zinc extended its share purchase plan until Monday 22 October, 2018 (Plomosas mine, Chihuahua). Leagold (Los Filos mine, Guerrero) appointed new COO and Plata Latina (El Naranjillo, Guanajuato) announced resignation of Director.

ON MEXICO ISSUES

  • Alamos Gold Inc., donated an educational center to the communities of Matarachi and Mulatos in Sonora.
  • Fresnillo plc., contributed with a library for the community of the Ejido Rodeo in Durango.

ON EXPLORATION

  • Minera Alamos Inc., reported initial results of a phase 1 drill program from its Santana project in Sonora. Significant intersections are Hole S118-116 with 93.5m of 0.65 g/t Au, Hole S118-115 with 17.8m of 0.73 g/t Au, and Hole S118-114 with 15.5m of 0.27 g/t Au and 14.9m of 1.4 g/t Au. “The first three holes were drilled near or within the Nicho deposit and were intended to evaluate mineralized extensions of previous exploration programs”. Assay results are pending from the remaining seven holes drilled during this phase 1 program.
  • Sonoro Metals Corp., announced the launching of a 10,00m RC drill program at its Cerro Caliche project in Sonora. The company has been granted with a 2 years environmental permit to drill 87 RC-holes in two years equivalent to approximately 10,000m. The Cerro Caliche´s target is a 2 square km zone with a cumulative total of over 10 km of gold mineralized quartz veins with associated lower grade veinlet zones.
  • Mexus Gold US, announced an upcoming drill program at its Santa Elena project in Sonora. Initial drilling will occur on 300m of the 2.2km long Julio vein and associated shear zone to probe a 100K Oz Au target.
  • VVC Exploration Corporation., presented results of sixteen holes drilled at the Gloria Extension East Zone within its Samalayuca project in Chihuahua. Highlights results are in Hole SC18-033 with 8.2m of 0.66% Cu, Hole SC18-34 with 10.1m of 0.34% Cu, Hole SC18-38 with 9.55m of 0.34% Cu, Hole SC18-39 with 9.6m of 0.38 % Cu, Hole SC18-40 with 14.4m of 0.35% Cu, Hole SC18-41 with 13.45m of 0.39% Cu, Hole SC18-43 with 25m of 0.32% Cu, Hole SC18-45 with 8m of 0.43% Cu, Hole SC18-46 with 6m of 0.41% Cu, Hole SC18-48 with 9m of 0.30% Cu, and Hole SC18-49 with 7.5m and 6m with 0.33% Cu and 0.35% Cu respectively.
  • Prize Mining Corporation, reported underground channel sampling results from the El Granizo mine within its Manto Negro Copper project in Coahuila. Thirty two individual samples returned > 1% Cu with a peak of 9% Cu. The weighted average content of the underground channel sampling was 2.62% Cu over an average channel height of 1.7m. Eleven samples returned > 100 g/t Ag and up to 199 g/t Ag, and eight samples with > 1% Pb to a maximum of 2.78% Pb.
  • Advanced Gold Corp., presented drill results from its Tabasquena project in Zacatecas. Three holes were drilled below the near surface oxide zone of the Tabasquena vein, the two furthest apart being 125m along strike. Highlights include the increase of the amount of quartz as drilling deeper and the discovery of 5 new blind epithermal veins.
  • Evrim Resources Corp., received drill permit and mobilized drill crew to its Cuale high sulphidation project in Jalisco. The drill program will consist of at least 3,000m and comprises between 10-15 drill holes. “The first drill holes at Cuale are planned at La Gloria to test the depth extent of the high grade Au mineralization encountered in trenches 1 and 4, followed by other high priority drill targets throughout the trenched area. Drilling is also planned at four step-out areas to test geophysical targets within the anomalous gold in soil geochemical and rock chip halo, including the North Dome which extends up to 1,000m north of the trenched area.

ON MINING

  • Capstone Mining Corporation, reported Q3 2018 results from its Cozamin mine in Zacatecas. Capstone milled 270,436 tonnes at a grade of 1.7% Cu, 1.1% Zn, 0.3% Pb and 49 g/t Ag to produce 9.7M Lb Cu, 4.6M Lb Pb, 983K Lb Pb, and 321K Oz Ag with metallurgical recoveries of 94.7%, 67.1%, 51.3% and 75.9% respectively.
  • Coeur Mining Inc., provided Q3 2018 results from its Palmarejo mine in Chihuahua. Coeur processed 300, 116 tonnes of 195 g/t Ag and 0.12 g/t Au to produce 1.3M Oz Ag and 14.7K Oz Au.
  • Endeavour Silver Corp., released Q3 2018 results from their three Ag-Au Mexican operations: Guanaceví mine in Durango, and the Bolañitos and El Cubo mines in Guanajuato. Production table for the third quarter is as follow:

 

Production for mine Tonnes produced Tonnes per

day

Grade

Ag

(g/t)

Grade

Au

(g/t)

Rec.

Ag

(%)

Rec.

Au

(%)

Ag

Oz

Au

Oz

Guanaceví 81,268 883 218 0.48 91.0 88.8 518,318 1,114
Bolañitos 109,728 1,193 84 1.67 79.7 82.0 236,197 4,832
El Cubo 126,825 1,379 188 2.00 88.0 86.1 674,313 7,022
Consolidated 317,821 3,455 160 1.50 87.5 84.8 1,428,828 12,968

 

  • Fortuna Silver Mines Inc., reported Q3 2018 results from its San Jose Mine in Oaxaca. Fortuna milled 262,710 tonnes of 258 g/t Ag and 1.61 g/t Au to produce 2M Oz Ag and 12.4K Oz Au, with metallurgical recoveries of 91.47% and 91.24% respectively. The company also reported that the heavy seasonal rains caused an overflow in a contingency pod of the dry stack tailings facilities at its San Jose mine.
  • Great Panther Silver Limited, announced Q3 2018 production results from their Mexican operations. At the Guanajuato Mine Complex, Great Panther processed 74,303 tonnes with grades of 124 g/t Ag and 2.12 g/t Au to produce 260.8K Oz Ag and 4.4K Oz Au with metallurgical recoveries of 87.8% and 87.1% respectively. At the Topia mine, the company processed 18,617 tonnes with grades of 334 g/t Ag, 0.90 g/t Au to produce 188K Oz Ag, 323 Oz Au, 11.28M Lb Pb, and 1.4M Lb Zn, with metallurgical recoveries of 94.0% for Ag and 59.6% for Au.
  • McEwen Mining Inc., presented production results from its El Gallo project in Sinaloa. Residual heap leaching at El Gallo resulted in 10.5K GEOs (gold equivalent ounces) in Q3 2018.
  • Sierra Metals Inc., released Q3 2018 production results from their Mexican operations. At the Bolivar mine, Sierra Metals processed 227,690 tonnes of 0.99% Cu, 17 g/t Ag and 0.17 g/t Au to produce 3.9M Lb Cu, 94K Oz Ag and 911 Oz Au with metallurgical recoveries of 78.30%, 74.27% and 68.59% respectively. At Cusi mine, the company processed 55,058 tonnes of 156 g/t Ag, 0.14 g/t Au, 0.3% Pb, and 0.3% Zn to produce 231K Oz Ag, 84 Oz Au 243K Lb Pb, and none Zn, with metallurgical recoveries of 83.49%, 32.97%, 78.0%, and 0.0% respectively.

ON FINANCING

  • Galore Resources Inc., closed a non-brokered private placement for gross proceeds of CAD$ 419.6K (Dos Santos, Zacatecas).
  • VVC Exploration Corporation, increased its non-brokered equity private placement financing to CAD$1.2M from the previously announced CAD$ 1.2M (Samalayuca Copper project, Chihuahua).
  • Sable Resources Ltd., raised an aggregate of $4.6M and also closed its previously announced bought deal financing for aggregate gross proceeds of $2.5M (Margarita project, Chihuahua).
  • Telson Mining Corporation, closed a non-brokered private placement for gross proceeds of $6.8M to finalize the construction of the Tahuehueto mine in Durango.

 

ON RESOURCES AND DEVELOPMENT

  • Americas Silver Corporation, provided update mineral reserve and resource estimates for its Cosala operation in Sinaloa, including Nuestra Señora, El Cajón, and San Rafel mines and the Zone 120 deposit. The estimate also includes San Felipe project in Sonora on which the company holds an option. Proven and probable mineral reserves at Cosala operation as June 30, 2018 are 2.9M tonnes of 110 g/t Ag, 1.7% Pb, and 4.0% Zn for a total content of 10.3 M Oz Ag, 107.7M Lb Pb, and 255.7M Lb Zn. Measured and Indicated mineral resources at Cosala (exclusive of mineral reserves) are 8.9M tonnes of 129 g/t Ag, 0.25% Cu, 0.5% Pb, and 1.2% Zn for a total content of 36.9M Oz Ag, 49M Lb Cu, 102.8M Lb Pb, and 231.2M Lb Zn, while inferred resources are 2.96M tonnes of 113 g/t Ag, 0.21% Cu, 0.9% Pb, and 1.4% Zn for a total content of 10.8M Oz Ag, 14M Lb Cu, 59.1M Lb Pb, and 88.1M Lb Zn. At San Felipe project, measured and indicated mineral resources are 4.7M tonnes of 61 g/t Ag, 2.48% Pb, and 5.42% Zn for a total content of 9.1M Oz Ag, 256M Lb Pb and 559.7M Lb Zn, while inferred resources are 2M tonnes of 48 g/t Ag, 1.4% Pb, and 3.6 g/t Zn for a total content of 3.1M Oz Ag, 63.2M Lb Pb and 157.8M Lb Zn.
  • Goldplay Exploration Ltd., announced positive results from sampling of the historical core at its San Marcial project in Sinaloa. Highlights results are in Hole SM-10-07 with 57.3m (TW 51.6m) of 122 g/t Ag Eq, including 14.3m (TW 12.9m) of 278 g/t Ag Eq, including 18.6m (TW 16.7m) of 117 g/T Ag Eq, and Hole SM-10-15 with 7m (TW 52.8m) of 104 g/t Ag Eq, including 12.5m (TW 11.2m) of 379 g/t Ag Eq. “The high-grade results support open pit potential of the initial 500 meter long deposit”.

ON DEALS AND CORPORATE ISSUES

  • Sonoro Metals Corp., acquired a 100% interest in the 10 Has Cabeza Blanca concession paying to the vendor US$175K and 250K Sonoro common shares, this to be paid in five installments over 2 years. “The Cabeza Blanca agreement completes our acquisition of all the mineral concessions under consideration within the 14 km² Cerro Caliche group,” said Kenneth MacLeod, President and CEO of Sonoro. “Cabeza Blanca’s strategic location within Cerro Caliche, along with the positive results from our sampling program and similar results from earlier exploration programs, makes this concession a priority target for Sonoro to drill.”
  • Consolidated Zinc Limited, extended its share purchase plan until Monday 22 October, 2018 from the previous closing date of 15 October 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 above, sodic hydrothermal alteration in a Cu-Mo prospect in Coahuila, Mexico.  Photo by Miguel A Heredia.

LEAGOLD APPOINTS ATTIE ROUX AS CHIEF OPERATING OFFICER

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Vancouver – Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) (“Leagold” or the “Company”) reports that Adriaan “Attie” Roux has been appointed to a newly created role of Chief Operating Officer (“COO”) for an initial term of six months. Mr. Roux is a Metallurgical Engineer with over 40 years of operational, technical and executive management experience in the mining industry.