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

Cu mineralization

By Miguel A Heredia

During the twenty five week of the year (July 1st to July 7th, 2019), at least 13 press releases were announced by companies working in Mexico, with four disclosing deals and corporate issues, three announcing financial rounds, two reporting on resources and development of their projects, two communicating production results, and two informing on exploration results.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Sonoro Metals completed the phase 2 drill program at its Cerro Caliche project and released results for the last 15 holes. In Chihuahua, Kootenay commenced a drilling program at its Columba project. ON MINING, Leagold reported Q2 2019 production results (Los Filos mine, Guerrero). US Antimony released June 2019 production results from their Mexican operations and announced the start of production from its Los Juarez project in Queretaro. ON FINANCING, Aztec Minerals oversubscribed a non-brokered private placement to rise gross proceeds of CAD $468K (Cervantes project, Sonora). Mexican Gold announced a non-brokered private placement to rise gross proceeds of up to $4M (Las Minas project, Veracruz). Silver One announced a non-brokered private placement to rise gross proceeds of up to $2.5M (Peñasco Quemado project, Sonora). ON RESOURCES AND DEVELOPMENT, Fresnillo plc announced that the construction of its Piritas Plant continues and is expected to be operating in H2, 2020. Peñoles revealed its plan to put into operation its Capela polymetallic mine in Guerrero in Q3, 2019. ON DEALS AND CORPORATE ISSUES, Kootenay and Azucar Minerals granted stock purchase options to certain officers, directors, employees, and consultants. Sonoro Metals reported results from its annual general meeting for shareholders (Cerro Caliche project, Sonora). Santacruz acquired 50% interest in Carrizal Mining (Veta Grande project, Zacatecas). Endeavour reported a fatal accident at its Bolañitos mine in Guanajuato.

 ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Sonoro Metals Corp., completed the phase 2 drill program at its Cerro Caliche project in Sonora. Results from the drilling program that have increased substantially the size of the Au mineralization of all the mineralized areas at the project. Sonoro has drilled a total of 10,328m in 96 holes. The combination of historic and current exploration drilling now totals 23,679 meters in 212 drill holes in addition to more than 6,000 surface samples. The company also released assay results from the final 15 holes. Significant drill intersections are in hole SCR-094 with 1.13 g/t Au and 1.8 g/t Ag over  67m, including  2.67 g/t Au and 2.2 g/t Ag over 3.05m; hole SCR-095 with 0.66 g/t Au and 9 g/t Ag over 19.81m, including 4.47 g/t Au and 18 g/t Ag over 1.52m; hole SCR-089 with 0.57 g/t Au and 7 g/t Ag over 22.86m, including 1.82 g/t Au and 13 g/t Ag over 3.05m; hole SCR-083 with 0.51 g/T Au and 17 g/t Ag over 22.86m, including 3.16 g/t Au and 36 g/t Ag over 1.52m; and hole SCR-84 with 0.51 g/t Au and 14 g/t Ag over 15.24m, including 2.93 g/t Au and 34 g/t Ag over 1.53m. The company announced that it has commissioning an independent NI 43-101 technical report to estimate the resource potential of its Cerro Caliche project.
  • Kootenay Silver Inc., announced the commencement of a minimum of 3,000m core drill program in 12 holes at its Columba high-grade epithermal vein system project in Chihuahua which has returned up to 693 g/t Ag on surface sampling. “The first 12 holes of the drill program will be designed to test the F vein where underground development work extended to 200 meter depth and the historic mining occurred”. Historic grades from the underground workings indicate grades ranging from 600 to 900 g/t Ag with highlights of 1,900 g/t Ag over 4 meters and 679 g/t Ag along 133 meters of vein strike and 1.3 meters of vein width.

ON MINING

  • Leagold Mining Corporation, reported production results from its mine operations in Mexico and Brazil. The company produced 91,285 Oz Au in Q2, 2019 bringing year to date 2019 (H1, 2019) 197,234 Oz Au. (Los Filos mine, Guerrero).
  • US Antimony Corporation, released production results from their Mexican operations. The company produced 121, 451 Lb Sb, 1,211 short tonnes of zeolites, 846 Oz Ag and 8.5Oz Au in June, 2019. US Antimony also announced the start of Au-Ag production at its Los Juarez project in Queretaro with the processing of 30K tonnes at its Puerto Blanco flotation mill in Guanajuato.

ON FINANCING

  • Aztec Minerals Corp., oversubscribed a non-brokered private placement to raise gross proceeds of CAD $468K. The gross proceeds will be used to fund exploration work at the Cervantes porphyry Au-Cu project in Sonora as well as its Tombstone CRD Ag-Pb-Au-Cu project in Arizona, USA.
  • Mexican Gold Corp., announced a non-brokered private placement to rise gross proceeds of up to $4M. Net proceeds will be used for exploration and advancement of its Las Minas project in Veracruz.
  • Silver One Resources Inc., announced a non-brokered private placement to rise gross proceeds of up to $2.5M.

 ON RESOURCES AND DEVELOPMENT

  • Fresnillo plc., announced that the construction of the phase II of its Piritas plant in Fresnillo mining district is in progress and is expected to be operating in H2, 2020 to process historical and continuous tailings. Fresnillo expects the Piritas plant to improve overall Au and Ag recoveries, thereby maximizing production in the Fresnillo district. It also projects that production total an average of 3.5M Oz Ag and 13K Oz Au per year once both phases operate at full capacity.
  • Industrias Peñoles S.A.B. de C.V., revealed its plan to put in operation its Capela (former Rey de Plata) polymetallic mine in Guerrero in Q3, 2019, with an investment of US$303M. Capela mining unit will have the capacity to mill and benefit 360,000 tonnes per year to produce an annual average of 4.7M Oz Ag, 89.6M Lb Zn, 19.3M Lb Pb, and 15.7M Lb Cu contained in Pb, Zn, and Cu concentrates.

ON DEALS AND CORPORATE ISSUES

  • Kootenay Silver Inc., granted stock purchase options to officers, directors, employees and consultants to purchase up to an aggregate of 8.45 M shares of Kootenay at a price of $0.14 per common share for a period of five years (Columba project, Chihuahua).
  • Azucar Minerals Ltd., granted stock options to certain directors, employees, and consultants to purchase and aggregate of 967,800 common shares at a price of $0.34 for a period of two years ( EL Cobre project, Veracruz).
  • Sonoro Metals Corp., reported results from its annual general meeting of shareholders (Cerro Caliche project, Sonora).
  • Santacruz Mining Ltd., acquired 50% interest in Carrizal Mining S.A. de C.V., by paying to the vendor US$0.5M, the forgiveness of approximately US$264K in debt owed by the Vendor to Carrizal; and other consideration in the aggregate amount of approximately US$680K, including the transfer of a life-insurance policy and three vehicles from Carrizal to the Vendor, valued at US$494K and US$180K respectively (Veta Grande project, Zacatecas).
  • Endeavour Silver Corp., announced a fatal accident at its Bolañitos mine in Guanajuato. A drill helper died while installing roof bolts in the Plateros section of the mine. Unfortunately, he was killed by falling rock when part of the roof collapsed.

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, Cu mineralization in a VMS prospect in Oaxaca, Mexico.  Photo by Miguel A Heredia.

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

Chalcedonic quartz vein

By Miguel A Heredia

During the twenty one week of the year (June 3rd to June 9th, 2019), at least 31 press releases were announced by companies working in Mexico, with sixteen disclosing deals and corporate issues, five reporting on resources and development of their projects, five informing on exploration results, four announcing financial rounds, two communicating production results, and one discussing Mexican news.  ON MEXICO ISSUES, the Mining Undersecretary of the Secretary of Economy, Francisco Quiroga, said that mining companies from Canada, USA, Peru, Colombia and Australia showed their interest to invest up to USD$ 8M in Mexico mining projects.  ON EXPLORATION, In Baja California Norte, One World Lithium released drilling results from its Salar del Diablo project. In Sonora, Colibri reported assays results from sub-outcrops on its Evelyn project.  In Chihuahua, Monarca identified a skarn and potential CRD/porphyry deposit after running a geophysical survey at its San Jose project.  In Zacatecas, Galore announced it has commenced drilling of 2,500m core drilling program at its Dos Santos property to test the El Alamo target. In Jalisco, GoGold released drilling results from its Los Ricos project.  ON MINING, Mexus Gold announced that over 5,700 tonnes of high-grade ore will be broken on site and hauled to the crushing and leaching site at its Santa Elena mine in Sonora. US Antimony produced 159,142 Lb Sb and 1,292 tonnes of zeolites during May 2019. ON FINANCING, VVC announced a non-brokered private placement for gross proceeds of CAD $2M (Samalayuca project, Chihuahua). Galore received a USD $100K loan from an officer of the company to fund its current 2,500m diamond core drilling program at its Dos Santos project in Zacatecas.  One World Lithium closed its third and final tranche of a previous announced non-brokered private placement for CAD $298,700 and announced a non-brokered private placement to raise up to CAD $2M (Salar del Diablo project, Baja California Norte).  Azure secured A$ 2M financing via a convertible note.  ON RESOURCES AND DEVELOPMENT, Azure announced that its board of directors has approved the commencement of trial mining and processing of high-grade mineralization from its Oposura project in Sonora. Sonoro Metals initiated metallurgical testing at its Cerro Caliche project in Sonora.  Endeavour released underground drilling results from its Guanacevi mine in Durango. Oroco announced the reception of a draft technical report for its Santo Tomas project in Sinaloa. US Antimony reported expansion of its Madero, Coahuila smelter capacity, and reported that its Puerto Blanco leach plant in Guanajuato is in the testing phase for the production of Au and Ag from its Los Juarez mine in Queretaro.   ON DEALS AND CORPORATE ISSUES, Aura Resources, Almadex, and Azucar Minerals granted stock options to directors, officers and consultants.  Riverside appointed Alberto Orozco as its VP Corporate Development (La Cecilia project, Sonora). Monarca signed an option agreement to acquire 100% interest in the San Jose project in Chihuahua and appointed new director. Inomin signed a non-binding letter agreement to acquire 100% interest in the La Gitana project in Oaxaca from Gunpoint, and appointed new director and adviser. Candente announced management changes with the retirement of its chair and director and the appointment of new director (El Oro tailings project, State of Mexico). Goldgroup and VVC announced their annual general meeting of shareholders will be held on July 31, 2019 and August 19, 2019 respectively. SilverCrest reported results of its annual general meeting of shareholders and appointed a new director to the Board (Las Chispas project, Sonora). Kootenay reported that its partner Pan American Silver has relinquished its right to earn 75% interest in the Promontorio Mineral Belt in Sonora. Magna Gold closed its previous qualifying transaction on two mining concessions at its Mercedes property in Sonora. Sierra Metals repurchased a royalty on its Cusi mine in Chihuahua from Minera Cusi S.A. de C.V. in US$ 4M.

 ON MEXICO ISSUES

  • Mexican mining projects raised interest for up to USD$ 8M of investment by companies from Canada, USA, Peru, Colombia, and Australia. According to the head of mining in the country, before realizing the investments, it will be necessary to carry out the work of convincing the surrounding populations. He said: “The type of mining we want is to pay taxes, be socially responsible and achieve economic benefits so that it reaches society and the settlement is public.” He insisted that the presidential mandate is that mining concessions will not be canceled and that the commitments acquired in the past will be honored. Among the areas with the greatest potential are in the south-southeast of Mexico, specifically the states of Oaxaca, Guerrero and Morelos, among others, with products such as Ag, Au, and Cu. The Ministry of Economy reported that the mining-metallurgical sector in Mexico contributes 4% of the national Gross Domestic Product. While in the world our country is the largest producer of Ag; it is among the top 10 producers of 16 different minerals: silver, bismuth, fluorite, celestite, wollastonite, cadmium, molybdenum, lead, zinc, diatomite, salt, barite, graphite, gypsum, gold and copper.

ON EXPLORATION

  • One World Lithium Inc., released drilling results from its Salar del Diablo project in Baja California Norte. The company has completed the first three holes of a twelve drill program, and reported that two holes located 14km apart have intersected aquifers with water samples containing pH values indicative of brines. Drilling to date has demonstrated that there are multiple aquifers in the northern part of the Salar which indicates that the entire Salar could be very prospective.
  • Colibri Resource Corporation, reported additional grab samples results from abundant quartz with local iron-oxide staining in sub-outcrops found on areas not previously mapped or sampled at its Evelyn project in Sonora. Grab samples results include values of 4.81 g/t Au and 4.19 g/t Au. This new area is located approximately 1km north-northeast of the Main Zone which consists of a moderately to steeply dipping Au-bearing quartz vein which has been the subject of historical mining. Colibri is planning a property wide, high density, airborne magnetic survey to determine the structural framework and the setting of known Au mineralization.
  • Monarca Minerals Inc., identified a skarn and potential CRD/porphyry deposit in its San José project in Chihuahua, after conducting an IP-resistivity and magnetic survey which returned very strong IP/magnetic anomalies over 2.8km strike length resulting in numerous drill targets. Based on the geophysical results and previous encouraging chip sampling on the property, Monarca is planning to perform an 18-hole RC drilling program to test for potential precious and base metals at depth.
  • Galore Resources Inc., announced it has commenced drilling of 2,500m core drilling at its Dos Santos property in Zacatecas to test Au mineralization associated with iron-oxides jasperoid and karst breccias exposed along the east-west trending El Alamo target.
  • GoGold Resources Inc., reported encouraging drilling results from an additional five diamond drill holes at its Los Ricos project in Jalisco. Significant results were encountered in hole LRGG-19-011, drilled 75m down dip below the deepest intersection to date on the property, with 1.2 g/t Au and 140 g/t Ag (3.07 g/t AuEq) over 18.5m, including 2.16 g/t Au and 228 g/t Ag (5.19 g/t AuEq) over 8.4m; in hole LRGG-19-13 with 0.78 g/t Au and 195 g/t Ag (3.38 g/t AuEq) over 15.6m, including 1.3 g/t Au and 297 g/t Ag (5.25 g/t AuEq) over 8.8m; and in hole LRGG-19-14 with 1.1 g/t Au and 127 g/t Ag (2.79 g/t AuEq) over 14.2m, including 1.94 g/t Au and 209 g/t Ag (4.73 g/t AuEq) over 7.7m. These positive results confirm that the deposit is still open at depth.

ON MINING

  • Mexus Gold US, announced that over 5,700 tonnes of high-grade ore ranging from 5 to 10 g/t Au and 9 to 12 g/t Ag will be broken on site and hauled to the crushing and leaching site at its Santa Elena mine in Sonora. “The leaching process has started and will continue on a permanent basis as fresh ore will be added to the heap leach pad. Moving forward, Mexus will increase the scale and capacity of the system to maximize returns” added the CEO of the company.
  • US Antimony Corporation, produced 159,142 Lb Sb and 1,292 tonnes of zeolites during May, 2019. It also reported that the inventories of Mexican antimony mine ore continue to grow.

ON FINANCING

  • VVC Exploration Corporation, announced a non-brokered private placement to raise up to CAD $2M. Gross proceeds will be used for exploration and development of its Samalayuca project in Chihuahua.
  • Galore Resources Inc., received a USD $100K loan from an officer of the company to fund its current 2,500m diamond core drilling at El Alamo target within its Dos Santos project in Zacatecas.
  • One World Lithium Inc., closed its third and final tranche of a previous announced non-brokered private placement for CAD $298,700. The aggregate gross proceeds of this offering under the first, second and final tranche totalled CAD $2,073,250. It also announced a non-brokered private placement for gross proceeds of up to CAD $2M. Net proceeds will be used at its Salar del Diablo project in Baja California Norte as follow: Salar del Diablo project drilling program CAD $500K; analysis and further testing of drill results CAD $400K; southern region pre-drilling program CAD$400K; and balance for working capital.
  • Azure Minerals Limited, secured A$ 2M financing via a convertible note by entering into a binding commitment with the company´s major shareholder Deutsche Balaton. “This funding will enable the Company to meet start-up costs and working capital requirements with operations to commence in the September quarter of 2019”.

 ON RESOURCES AND DEVELOPMENT

  • Azure Minerals Limited, announced that its board of directors has approved the commencement of trial mining and processing of high grade mineralization from its 100% owned Oposura property in Sonora. Initial mine production and processing will range between 1,500 to 3,000 tonnes per month of mineralized material grading approximately 15% combined Zn and Pb. The ore material will be processed on a toll treatment basis through a nearby sulphide flotation processing facility.
  • Sonoro Metals Corp., initiated ore characterization and bottle roll and leach column test at its Cerro Caliche project in Sonora. The tests are expected to be completed in 8 weeks. If the results are positive, they will be incorporated in the sensitivity analysis in order to define the characteristics of the heap leaching pilot operation preliminary design, which would be then updated to a NI 43-101 level.
  • Endeavour Silver Corp., released underground drilling results from seventeen holes drilled at its Guanacevi mine in Durango. Seven holes intersected high-grade over mineable widths to extend. Highlights include 0.93 g/t Au and 251 g/t Ag (325 g/t AgEq) over 3m true width in hole UG-61, and two intersections in parallel veins in hole UG-75 with 2.93 g/t Au and 2,175 g/t Ag (2,409 g/t AgEq) over 1m true width, and 0.78 g/t Au and 579 g/t Ag (642 g/t AgEq) over 3.9m. “Recent drilling has extended high grade Ag-Au mineralization to depth at all three of our original orebodies, which should help to increase resources at Guanacevi.”
  • Oroco Resources Corp., announced the reception of a draft technical report for its Santo Tomas project in Sinaloa. The technical report presents the key findings of historical technical reports, including a 1994 PFS study by Bateman Engineering (supported by metallurgical work by Mountain States R&D International, Inc., a resource estimate by Mintec, Inc., and mining and plant estimates by Minetek S.A. de C.V.).
  • US Antimony Corporation, reported expansion of its Madero, Coahuila smelter capacity, which the installation of long rotary furnace (LRF) number 3. The company has an additional 3 LRFs in inventory. Furnace recovery is in the 96%-98% range and the additional capacity is expected to handle production increases from the Company’s Wadley and Sierra Guadalupe Mines in San Luis Potosi and Zacatecas respectively. It also reported that its Puerto Blanco leach plant in Guanajuato is in the testing phase for the production of Au and Ag from its Los Juarez mine in Queretaro.

ON DEALS AND CORPORATE ISSUES

  • Aura Resources Inc., granted stock options to directors, officers and consultants of the company to purchase an aggregate 1.2M common shares at an exercise price of $0.05 per share which expire on June 4, 2019 (Taviche project, Oaxaca).
  • Almadex Minerals Ltd., granted stock options to certain directors and officers of the company to purchase an aggregate 628K common shares at an exercise price of $0.32 per share which expire on June 4, 2019 (Ixtaca project, Puebla).
  • Azucar Minerals Ltd., granted stock options to certain directors, officers and consultants of the company to purchase an aggregate of 573K common shares at an exercise price of $0.29 per share which expire on June 4, 2019 (El Cobre project, Veracruz).
  • Riverside Resources Inc., announced the appointment of Alberto Orozco as its VP Corporate Development (La Cecilia project, Sonora).
  • Monarca Minerals Inc., signed an option agreement to acquire 100% interest in the San Jose project in Chihuahua, where the company identified a skarn and potential CRD/porphyry copper deposit. To acquire the property, Monarca will pay USD $150K in staged cash payments as follow: USD $40K on the option signing date (already paid), USD $50K twelve months after signing of the option agreement, and USD $60K twenty four months after signing of the option agreement. The agreement includes a 2% NSR upon reaching commercial production and Monarca keeps a right to purchase 1% NSR by a single payment of USD $100K. The company also appointed a new director to its Board.
  • Inomin Mines Inc., signed a non-binding letter agreement to acquire 100% interest in the La Gitana property in Oaxaca from Gunpoint Exploration Ltd. La Gitana comprises a 494 hectares that hosts a low-sulphidation epithermal Au-Ag deposits in Tertiary-aged volcanic rocks. In order to acquire 100% of the property Inomin has to make staged payments for $300K and issue 2M of common shares of the company as follow: $10K (paid) on signing agreement; $25K and 150K shares following execution of definitive agreement; $50K and 250K shares on first anniversary; $65K and 450K shares on second anniversary; $75K and 500K shares on third anniversary; and $75K and 650K shares on fourth anniversary. Inomin will have the right to accelerate payments at the company´s discretion, and is also subject to a NSR the terms of which have yet to be finalized.  The company also announced the resignation of one of its directors and the appointment of its replacement. It also appointed an adviser of the company.
  • Candente Gold Corp., reported the retirement of its chair and director and the appointment of its new director (El Oro tailings project, State of Mexico).
  • Goldgroup Mining Inc., announced that its annual general meeting of shareholders will be held on July 31, 2019 (Cerro Prieto mine, Sonora)
  • VVC Exploration Corporation, announced that its annual general meeting of shareholders will be held on August 19, 2019 (Samalayuca project, Chihuahua).
  • SilverCrest Metals Inc., reported results of its annual general meeting of shareholders and appointed a new director to the Board (Las Chispas project, Sonora).
  • Kootenay Silver Inc., announced that its JV partner Pan American Silver Corp., has relinquished to its right to earn 75% interest on the Promontorio Mineral Belt in Sonora, which include the Promontorio Resource and La Negra high-grade Ag discovery. Kootenay will be conducting a review of the work performed by Pan American in order to plan the next steps for advancing these assets.
  • Magna Gold Corp., closed its previous qualifying transaction on two mining concessions at its Mercedes property in Sonora. In consideration of the grant of the option, Magna will: (i) pay to the Seller an aggregate of US$1.34M plus VAT of 16%, paid in installments commencing on the 6th month from the effective date of the agreement (the “Effective Date”) and ending on the 48th month from the Effective Date; (ii) issue to the seller a 3% NSR, capped at US$3.5M and subject to the right of the corporation to acquire all 3 percentage points of the NSR at a price of US$500Kper percentage point, within the first three years of commercial production of the Mercedes Property; and (iii) conditional on the completion of a going public transaction within six months of the Effective Date, issue 2,442,105common shares of the corporation to the seller.
  • Sierra Metals Inc., repurchased a royalty on its Cusi Mine from Minera Cusi S.A. de C.V. for US$ $M. The royalty agreement required the company to pay a 3% royalty on the net revenues generated by the mine, less transportation costs, for the life of the mine. The company has already paid US$2.5 million upon signing the repurchase contract on May 10, 2019 and is required to pay a further US$1.5 million on May 10, 2021. With this repurchase, Sierra Metals will no longer have any royalties on any of its properties or mines.

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

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

Flow banding rhyolite

By Miguel A Heredia

During the seventeen week of the year (May 06th to May 12th, 2019), at least 41 press releases were announced by companies working in Mexico, with fourteen communicating financial and production results, ten disclosing deals and corporate issues, seven reporting on resources and development of their properties, five informing on exploration results, three discussing Mexican news, and two announcing financing rounds.  ON MEXICO ISSUES, Mining Chamber of Mexico (CAMIMEX) demanded the authorities to act in the illegal blockade at the Peñasquito mine by a transport company called CAVA.  ON EXPLORATION, In Sonora, Aloro announced that it will resume drilling at its Venados project, Azure released drilling results from its Alacran project, and Colibri received historical assays from Santa Catalina Mining’s Pilar Exploration.  In Chihuahua, Silver Spruce and Radius Gold announced exploration results from its Pino de Plata and Amalia projects respectively.  ON MINING, Alio, Avino, Endeavour, Excellon, First Majestic, GoGold, Gold Resource, Hecla, Leagold, Pan American, Premier, Santa Cruz, Torex, and US Antimony presented Q1 2019 production and financial results from their Mexican operations. Endeavour also released its 2018 annual review and sustainability report. ON FINANCING, Defiance closed the final tranche of its previously announced private placement in the amount of $280,230 (San Acacio project, Zacatecas). Megastar closed a non-brokered private placement in the amount of $672,600 (Yautepec, Magdalena, and Rama de Oro projects, Oaxaca). ON RESOURCES AND DEVELOPMENT, Southern Silver updated mineral resources at its Cerro Las Minitas project in Durango. Azure increased mineral resources at its Oposura project in Sonora. Hecla reported positive exploration results from its San Sebastian mine in Durango. Mexus Gold started blast hole drilling at its Santa Elena mine in Sonora to initiate ore production. Premier announced high grade intersects from the underground drilling program carried out at the Marianas zone within its Mercedes mine in Sonora. US Antimony reported a doubling of its Mexican smelting. Goldplay released exploration results from its San Marcial project in Sinaloa. Endeavour filed an updated technical report for its Terrroneras project in Jalisco with mineral resource and reserve estimate.  ON DEALS AND CORPORATE ISSUES, Alamos Gold (Mulatos mine, Sonora), Argonaut (El Castillo mine, Durango), Endeavour (Guanacevi mine, Durango), and Leagold (Los Filos mine, Guerrero) announced results from their annual general meeting of shareholders. Oroco confirmed favourable court decision on the Santo Tomas concession in Sinaloa. Defiance appointed new Director and Executive Chairman (San Acacio project, Zacatecas). Sable announced that the TSX accepted for filing the documentation of its option agreement on the Margarita project in Chihuahua with Minas Guilloyna and Minera La Perla.

 ON MEXICO ISSUES

  • Mining Chamber of Mexico (CAMIMEX), demanded the authorities to act in the conflict between Peñasquito and a transport company called CAVA. The company declared that the illegal blockade which started more than a month ago, harms entire families and the productive chains of the region. CAMIMEX also stated that is essential that mining companies in the country can work without being subject to illegal pressures and, like any industry that develops in the country, their demands are met promptly through legal channels and attached to the rule of law. The company initiated the suspension of payments to employees and unionized workers, contractors, suppliers and communities. However, the company is willing to help unlock this situation that affects 20 thousand people who work directly or indirectly for the mine.
  • Mexico mining exploration, registered its lowest investment in 12 years. The mining exploration investment in Mexico during 2018 reached USD $383M, which represented a year-on-year decrease of 37.4% and its weakest level in the last 12 years, according to data from the Mining Chamber of Mexico (CAMIMEX).

ON EXPLORATION

  • Aloro Mining Corp., announced that soon it will resume drilling at its Los Venados project in Sonora. The drilling plan will consist of 1,200m in four holes and will be focused on the blind target discovered by hole LVRC-012 which intersected 32m of blind strong silicic alteration containing 1.72 g/t Au over 4.57m, interpreted as the margin of a concealed felsic dome.
  • Azure Minerals Limited, released drilling results from its Alacran project in Sonora, where its JV partner Minera Teck completed 21 holes phase 2 diamond drilling campaign for 10, 540m. 16 of the drill holes targeted porphyry-style copper mineralization at Cerro Alacrán prospect, while the remaining 5 holes targeted epithermal-style precious metal mineralization at Cerro San Simon and Cerro Colorado areas. This phase of drilling confirmed the existence of porphyry copper mineralization with broad zones of visible chalcopyrite intersected. Significant drill intersections include hole ALA-18-001 with 0.17% Cu over 118m; hole ALA18-003 with 0.25% over 131.7m; hole ALA-18-011 with 0.19% Cu over 137m; and hole ALA-18-014 with 0.21% over 177.3m.
  • Colibri Resource Corporation, purchased historical assays results for 8,000 samples collected on the Pilar Gold project in Sonora by Santa Catalina Mining in the 90´s. Highlights include a series of 11 consecutive assays reporting 285.12 g/t Au, 45.53 g/t Au, 195.5 g/t Au, and 51.91 g/t Au which have been interpreted to correspond with hole S-10. This hole intersected 54.47 g/t Au over 16.5m, and is located in the North Hill Zone; a series of 9 consecutive assays including an intersection of 80.3 g/t Au, interpreted to correspond with hole Q-8b. This hole intersected 9.64 g/t Au over 13.5m; and another series of 6 consecutive assays including 0.54 g/t Au, 8.52 g/t Au, 20.66 g/t Au, 16.23 g/t Au, and 6.97 g/t Au, interpreted to correspond with hole P-9b located in the Main Zone, which encountered 10.16 g/t Au over 9m.
  • Silver Spruce Resources inc., completed field work at its Pino de Plata project in Chihuahua. The field program expanded areas of intrusive-related alteration and mineralization to > 50 hectares; confirmed that high silver grades are present on surface at El Terrero and Gossan areas; added three new vein targets at La Perla, Santa Clara and El Muro vein systems; and refined drill collar locations and orientations to optimize targeting. The company announced that eight targets were identified for drill testing: “gossans in the Gossan zone, skarn/replacements at Santa Elena, the Terrero mine target, the La Perla vein and associated alteration zone, the Santa Clara vein, the Theodora vein, the Sierpe veins and associated alteration, and the newly defined Muro vein.” The company holds a drill permit for 30 holes but only plans to drill 12 holes for an estimated of 2,000m during the phase 1.
  • Radius Gold Inc., provided an update of its ongoing drilling program at its Amelia project in Chihuahua. Radius has completed three drill holes proximal to hole AMDD19-010 which encountered 12.38 g/t Au and 309 g/t Ag over 34m of true width. Hole AMDD19-011 intersected 97m of “varying intensity quartz veins, stockwork veining and diorite dykes”; hole AMDD19-012 intersected a zone of 53m of “alteration including variable stockworks, silicification and hydrothermal breccias”; and hole AMDD19-013 intersected 17m of “moderate to strong silicification, tectonic breccia with micro vein stockworks and traces of fine sulphides”. Assays for these holes are pending.

ON MINING

  • Alio Gold Inc., announced Q1 2019 financial and production results from its San Francisco mine in Sonora. Alio produced 10,968 Oz Au and 6,274 Oz Ag. It is less compared with Q1 2018. The by-product cash cost and AISC in Q1 2019 was $884 and $1,137 per Oz. The reason of the lower production at San Francisco mine is due to the decision to stop active mining in the San Francisco pit and focus on continuing leaching and processing the low grade stockpile.
  • Avino Silver & Gold Mines Ltd., reported Q1, 2019 production and financial results from its Avino mine in Durango. The company milled 197,687 tonnes to produce 268.4K Oz Ag, 1,813 Oz Au and 1.1M Lb Cu (over 615K Oz AgEq) with a cash-cost and AISC of USD $11.44 and USD $13.81 per Oz AuEq produced. Avino reported revenues for USD $6.7M, an EBIDTA of USD $49M, and a net income (loss) of USD $610M.
  • Endeavour Silver Corp., announced Q1 2019 production and financial results from its four Mexican operations: Bolañitos and El Cubo mines in Guanajuato, Guanacevi in Durango, and El Compas in Zacatecas. It produced 1.07M Oz Ag, 10K Oz Au (or1.9M Oz AgEq), with a cash cost and AISC of $12.55 and $19.37 per Oz Ag payable (net of Au credits). It also presented its 2018 annual review and sustainability report. 2018 Sustainability highlights include the investment of $400K in corporate charitable donations, focused on education, employment, health, infrastructure, and cultural events in Mexico and Canada; plantation of 53,000 trees in reforestation projects to reclaim disturbed ground; and the recycle of over 93% of water used; the investment of $1.7M in environmental protection programs. The company also reported that 99% of its workforce is Mexicans, spending $42M in employee wages and benefits; spent $181.1M on goods and services, 97% of total procurement is from within Mexico; and paid $10.2M in taxes.
  • Excellon Resources Inc., released Q1 2019 production and financial results from its la Platosa mine in Durango. The company processed 18,219 tonnes of 534 g/t Ag, 5% Zn, and 8% Pb to produce 260.4K Oz Ag, 1.37M Lb Zn, and 2.2M Lb Pb, with metallurgical recoveries of 89.7%, 74.6%, and 78.1% respectively. Cash cost and AISC were USD $11.71 and USD $25.35 respectively. The company reported revenues for USD $5.2M and a net loss of USD $602K.
  • First Majestic Silver Corp., presented Q1 2019 production and financial results from their Mexican operations. The company milled 812,654 tonnes to produce 3.3M Oz Ag or 6.3M Oz AgEq, with a cash cost and AISC of $6.34 and $12.91 per Oz Ag payable, and reported revenues for $86.8M, and net earnings of $2.9M. A distribution by mine is shown in the table below:

  • GoGold Resources Inc., announced Q1 2019 production and financial results from its Parral tailings project in Chihuahua. It stacked 478,874 tonnes to produce 414.2K Oz AgEq, with cash cost of USD $13.61 and an AISC of USD $13.61 per Oz AgEq produced. GoGold reported revenues for USD $7.03M, an EBIDTA of USD $1.86M, and a net loss income of USD $2,44M.
  • Gold Resource Corporation, released Q1 2019 production and financial results from their mine operations in Oaxaca. The company processed 165,638 tonnes of 1.26 g/t Au and 226 g/t Ag to produce 6,538 Oz Au and 364.6K Oz Ag. Cash cost and AISC of USD $340 and USD $834 per Oz AuEq produced respectively. Gold Resource reported revenues for USD $26.57M, and net income of USD $0.88M.
  • Hecla Mining Company, reported Q1 2019 production and financial results from its San Sebastian mine in Durango. The mill operated at an average of 494 tonnes per day to produce 441K Oz Ag and 3,530 Oz Au, at a cash cost and AISC of $11.23 and $16.55 per Oz Ag produced respectively.
  • Leagold Mining Corporation, announced Q1 2019 production and financial results from its Los Filos mine in Guerrero. The company produced 64K Oz Au at an AISC of USD $797 per Oz Au sold. Los Filos underground is now producing at over 1,900 tonnes per day with cost below USD $80 per tonne of ore.
  • Pan American Silver Corporation, presented Q1 2019 production and financial results from their Mexican operations. At its La Colorada mine in Zacatecas, the company produced 2M Oz Ag and 1K Oz Au at cash cost of USD $2.16 per Oz Ag produced and an AISC of USD $3.37 per Oz Ag produced. At its Dolores mine in Chihuahua, the company produced 1.1M Oz Ag and 30K Oz Au at cash cost of USD $3.34 and AISC of USD $26.45.
  • Premier Gold Mines Limited, reported Q1 2018 production and financial results from its Mercedes mine in Sonora. It milled 178,771 tonnes of 3.18 g/t Au and 27 g/t Ag to produce 17.6K Oz Au and 57.7K Oz Ag at a cash and IASC of USD $806 and $1,105 per Oz Au sold respectively. Premier reported revenues for USD $23.1M and mine operating income of USD $3.7M.
  • Santacruz Silver Mining Ltd., announced Q1 2019 production and financial results from their Mexican operations. At its Veta Grande mine in Zacatecas, the company processed 32,625 tonnes of 119 g/t Ag, 0.19 g/t Au, 0.8% Pb, and 1.9% Zn,  to produce 79.6K Oz Ag, 97 Oz Au, 488.3K Lb Pb, and 1.1M Lb Zn. At its Rosario mine in San Luis Potosi, the company  milled 10,279 tonnes of 47 g/t Ag, 0.3% Pb, and 2.1% Zn to produce 14K Oz Ag, 61 Oz Au, 60.5K Lb Pb, and 407.7K Lb Zn.
  • Torex Gold Resources Inc., presented Q1 2019 production and financial results from its El Limon-Guajes Mining Complex in Guerrero. Torex produced 77.8K Oz Au at an average grade of 2.45 g/t Au. Cash cost and AISC per Oz Au sold were USD $745 and USD $1,161 respectively. It reported revenues for USD $101.9M and earnings from mine operation of USD $16.8M.
  • US Antimony, produced during Q1 2019 approximately 69,000 Lb per month from its Mexican operations (Wadley mine in San Luis Potosi and Guadalupe mine in Zacatecas).

ON FINANCING

  • Defiance Silver Corp., closed the final tranche of its previously announced private placement in the amount of $280,230. In total, Defiance raised $2,567,620 in its private placement (San Acacio project, Zacatecas).
  • Megastar Development Corp., closed a non-brokered private placement in the amount of $672,600. Gross proceeds of the financing will be used to advance exploration on multiple properties within the Oaxaca, Mexico Au-Ag belt as optioned from Minera Zalamera S.A. de C.V. (Yautepec, Magdalena and Rama de Oro projects, Oaxaca).

ON RESOURCES AND DEVELOPMENT

  • Southern Silver Exploration Corp., announced a new mineral resource estimate at its Cerro Las Minitas project in Durango. Indicated resources are 11,102,000 tonnes of 105 g/t Ag, 0.16% Cu, 1.2% Pb, 3.7% Zn, and 0.1 g/t Au to contain 37.5M Oz Ag, 40M Lb Cu, 303M Lb Pb, 897M Lb Zn, and 35K Oz Au (133.9M Oz AgEq or 2B Lb ZnEq). Inferred resources are 12,844,000 tonnes of 111 g/t Ag, 0.27% Cu, 0.9% Pb, 2.8% Zn, and 0.07g/t Au to contain 45.7M Oz Ag, 76M Lb Cu, 253M Lb Pb, 796M Lb Zn, and 31K Oz Au (138.1M Oz AgEq or 2.04B Lb ZnEq).
  • Azure Minerals Limited, expanded mineral resources at its Oposura project in Sonora. The new mineral resource estimate is based on 173 diamond holes totaling 11,109m drilled on phase 1 and 58 diamond holes totaling 4,567m drilled on phase 2. Indicated resources are 2.5M tonnes of 5.3% Zn, 2.9% Pb, and 19 g/t Ag, and inferred resources of 0.6M tonnes of 3.4% Zn, 2.1% Pb, and 15 g/t Ag. Total mineral resources are 3.1M tonnes at grades of 5% Zn, 2.7% Pb, and 18 g/t Ag containing 342.7M Lb Zn, 188.2M Lb Pb, and 1.78M Oz Ag. In addition, reconnaissance drilling in the Central Zone has encountered near-surface, high-grade mineralization. Drilling highlights include hole OPDH-173 which intersected 7.7% combined Zn+Pb over 12m, including 12.5% combined Zn+Pb over 4.1m, and hole OPDH-178 with 18.9% combined Zn+Pb over 9.5m, including 26.6% combined Zn+Pb over 6.2m. Azure is planning additional drilling to further increase mineral resources in the Central Zone, to the north of the deposit and within the wider property.
  • Hecla Mining Company, reported positive exploration results from its San Sebastian mine in Durango. The company obtained encouraging drill results at the Middle Vein area, including 6,422 g/t Ag and 24.57 g/t Au over 1.86m. This drilling phase has increased the oxide mine life through upgraded resource in the Middle Vein. In addition, Hecla defined near-surface mineralization at the new El Toro area over 1.5km along strike and from surface up to 150m at depth. Drilling highlights at El Toro area include 750 g/t Ag and 4.9 g/Au over 1.8m, and 666 g/t Ag and 10.9 g/t Au over 1.3m.
  • Mexus Gold US, started blast hole drilling on the Julio vein system at its Santa Elena mine in Sonora to produce the ore necessary to initiate steady production. The material being drilled has been sampled and is averaging 4 g/t Au and 12 g/t Ag. “Mexus currently has over 12,000 tons of ore stockpiled and ready to mine which was a result of the preparation of the pit on the Julio vein”.
  • Premier Gold Mines Limited, released high grade intersects from underground drilling carried out at the Marianas zone within its Mercedes mine in Sonora. Significant results were in hole UG-MR19-011 with 4.96 g/t Au and 71 g/t Ag over 31m, including 25.65 g/t Au and 171 g/t Ag over 3.1m, hole UG-MR-19-007 with 4.51 g/t Au and 64 g/t Ag over 20.5m, including 11.04 g/t Au and 94 g/t Ag over 3.8m, and hole UG-MR10-010 with 7.29 g/t Au and 8 g/t Ag over 3.5m. “The Marianas Zone comprises the down-plunge extension of the main Mercedes mine trend. Previous surface drilling suggests Marianas has the potential to host economic mineralization of higher than the current reserve grade. It is the Company’s goal to convert a portion of Marianas mineral resources to mineral reserves with a delineation drill program during the balance of 2019. Ore development could commence in 2020”.
  • US Antimony, reported a doubling of its Madero, Coahuila Mexican smelter capacity with the startup of No.2 long rotary furnace. This is expected to double Mexican production by the end of Q2 due to the increased output of its Wadley mine in San Luis Potosi and its Guadalupe mine in Zacatecas.
  • Goldplay Exploration Ltd., released trenching results from the Nava Zone located 1.5 km to the west of its San Marcial NI 43-101 silver resource, supporting an attractive mineralized corridor for discoveries and potential resource expansion. Wide zones of up to 1.5 g/t Au were encountered during the trenching sampling. Significant results include 0.7 g/t Au over 40m, including 1.9 g/t Au over 6m.
  • Endeavour Silver Corp., filed an updated technical report for its two deposits at the Terroneras project in Jalisco with mineral resource and reserve estimate. Indicated resources at Terroneras are 5,275,000 tonnes of 227 g/t Ag and 2.35 g/t Au to contain 38.5M Oz Ag and 398K Oz Au. Inferred resources are 1,022,000 tonnes of 212 g/t Ag and 1.7 g/t Au to contain 6.97M Oz Ag and 56K Oz Au. Indicated resources at La Luz are 126K tonnes of 192 g/t Ag and 13.6 g/t Au to contain 779K Oz Ag and 55K Oz Au. Inferred resources at La Luz are 58K tonnes of 145 g/t Ag and 12.15 g/t Au to contain 269K Oz Ag and 23K Oz Au. Probable combined mineral reserves of Terroneras and La Luz are 5,587,000 tonnes of 208 g/t Ag and 2.33 g/t Au to contain 37.44M Oz Ag and 419K Oz Au (mineral resources are inclusive of mineral reserves).

ON DEALS AND CORPORATE ISSUES

  • Alamos Gold Inc., announced results from its annual general meeting of shareholders (Mulatos mine, Sonora), and the retirement of one of its Directors and the appointment of its replacement.
  • Argonaut Gold Inc., released voting results from its annual general meeting of shareholders (El Castillo mine, Durango).
  • Endeavour Silver Corp., announced results from its annual general meeting of shareholders, and the appointment of its newest Director (Guanacevi mine, Durango).
  • Great Panther Mining Limited, announced the appointment of a new Director (Topia mine, Durango).
  • Leagold Mining Corporation, presented voting results from its annual general meeting of shareholders (Los Filos mine, Guerrero).
  • McEwen Mining Inc., announced two management changes: its new CFO and the General Manager for its Nevada operation (Fenix project, Sinaloa).
  • Oroco Resource Corp., confirmed that a favourable court decision on the Santo Tomas concession has been received by its Mexican legal council. The company also announced that a criminal complaint against Aztec and its president Ron Arnold has been field with the Procuraduría General de Justicia de la Ciudad de Mexico (Santo Tomas project, Sinaloa).
  • Defiance Silver Corp., appointed new Director and Executive Chairman (San Acacio project, Zacatecas).
  • Sable Resources, announced that the TSX accepted the file documentation of its option agreement on the Margarita project in Chihuahua with Minas Guilloyna and Cia. Minera La Perla. Sable can earn 100% right, title, and interest in the Margarita project by satisfying the CAD $3.5M purchase price through the issuance of shares or cash or a combination of both over a three years period. To date, Sable has paid CAD $50K in cash and issued 200K shares (CAD $30K) to vendors during the execution of the agreement, issued 500K shares or cash equivalent (CAD $470K) on May 30, 2018), and has to issue CAD $500K worth of shares or cash equivalent on or before May 30, 2019, CAD $500K worth of shares or cash equivalent on or before November 30, 2019, and CAD $2M worth of cash or shares on or before May 30, 2020.

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, flow banding rhyolites at a locality in Guanajuato, Mexico.  Photo by Miguel A Heredia.

 

 

Silver Spruce Fieldwork Continues to Expand Drill Target Areas andIdentify New Veins at Pino de Plata

SilvverSpruce_09042019_nr

April 9, 2019 – Bridgewater, NS – (TSXV:SSE)(Frankfort-S6Q1) – Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) is pleased to announce that its ongoing field exploration work continues to expand the known mineralized areas and has identified additional drill targets for its upcoming program at the Pino de Plata project in western Chihuahua State, Mexico.

Highlights on the First Week of December, 2018. Mining and Exploration News in Mexico

Mesothermal quartz vein.

By Miguel A Heredia

During the 49th week of the year (December 3rd to December 9th, 2018), at least 15 press releases were announced by companies working in Mexico, with seven informing on exploration results, four reporting on advances on their properties, four disclosing deals and corporate issues, and one communicating production results. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Sonora, Colibri announced plans to conduct a structural geology interpretation on its El Pilar project, Mexus Gold completed a drill program on its Santa Elena project, and Sonoro reported drill results from its Cerro Caliche project.  In Chihuahua, Radius Gold and its partner Pan American Silver announced drill results from its Amalia project, and Mammoth provided an update on exploration activities from its Tenoriba project. In Zacatecas, Advance Gold provided an update on exploration plans for its Tabasquena project. In Jalisco, Evrim reported drill results from its Cuale project.  ON MINING, US Antimony reported Sb monthly production from their Mexican operations. ON FINANCING, no relevant news. ON RESOURCES AND DEVELOPMENT, Colibri clarified its resource estimation at its El Pilar project in Sonora. Avino released drill results from its Avino open pit mine area in Durango. Gold Resource announced drill results and expanded its Arista mine in Oaxaca. US Antimony announced an update on the leach plant for the Los Juarez Au-Ag-Sb property in Queretaro.  Minera Alamos provided a year-end development update on its Santana project in Sonora. ON DEALS AND CORPORATE ISSUES, Candelaria acquired the remaining 40% ownership of its Pinos property in Zacatecas. Colibri announced its intention to sell its Pitaya property interest in Sonora. Mexican Gold acquired 100% interest in three concessions at its Las Minas project in Veracruz. Radius announced its intention to issue shares for its Amalia project option payment.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Colibri Resource Corporation, announced that a structural geology interpretation will be conducted on its El Pilar project in Sonora to generate targets to drill-test.
  • Mexus Gold US, completed 736m of core drilling in 9 holes at its Santa Elena project in Sonora. 200 core samples were collected and sent to the lab for assays. Assay results are pending and will provide the guide for the next exploration stage toward locating a potential low angle shear zone Au and Ag resource.
  • Sonoro Metals Corp., reported drill results from 17 holes and expanded mineralization at its Cerro Caliche project in Sonora. Significant intersections are in Hole SCR-014 with 21.33m of 0.44 g/t Au and 4 g/t Ag; Hole SCR-015 with 10.67m of 0.51 g/t Au and 1 g/t Ag, and 19.81m of 0.35 g/t Au and 2 g/t Ag; Hole SCR-021 with 32m of 0.55 g/t Au and 11 g/t Ag, including 3.05m of 2.13 g/t Au and 65 g/t Ag; Hole SCR-019 with 19.81m of 0.52 g/t Au and 7 g/t Ag; Hole SCR-022 with 13.71m of 0.75 g/t Au, and 14 g/t Ag; Hole SCR-029 with 9.14m of 0.86 g/t Au and 6 g/t Ag and 15.24 m of 0.72 g/t Au and 4 g/t Ag; Hole SCR-024 with 13.72m of 0.68 g/t Au and 11 g/t Ag, including 4.57m of 1.5 g/t Au and 24 g/t Ag; and Hole SCR-030 with 22.86m of 0.72 g/t Au and 3 g/t Ag, including 10.67m of 1.26 g/t Au and 3 g/t Ag.
  • Radius Gold Inc., and Pan American Silver, announced initial drill results from its Amalia project in Chihuahua. 1,909m in 9 holes were drilled by Radius and tested three target zones: Campamento-San Pedro, Guadalupe and Dulces across a strike length of 1.8Km following the trace of a large regional fault and associated epithermal Au and Ag mineralization. Significant intersections encountered at the Campamento-San Pedro target area are in Hole AMDD18-003 with 30m of 0.3 g/t Au and 65 g/t Ag; Hole AMDD18-08 with 1m of 2.28 g/t Au and 521 g/t Ag and 5m of 0.59 g/t Au and 571 g/t Ag; and Hole AMDD18-09 with 26m of 7.08 g/t Au and 517 g/t Ag, including 5m of 14.71 g/t Au and 1,378 g/t Ag. Mineralization at the Campamento target is open in all directions. At Guadalupe and Dulces target zones none significant drill intersections were encountered.
  • Mammoth Resources Corp., provided an update on exploration activities developed during the period 2017-2018 at its Tenoriba project in Chihuahua. Mammoth vacated the property in late June until early October due to the rainy season. Geologist returned to the field to sample gaps in the drill core between intervals of reported mineralization which had not previously been sampled and to perform maintenance on roads in and around the project area following the seasonal rains. The company run IP and Magnetic geophysical surveys to cover approximately 40% of the property. Based on geophysical features, surface geology and geochemistry sampling results, Mammoth drilled 2,705m in 13 holes in the period 2017-2018 to test numerous targets. Significant drill intersections were encountered in 9 out of 11 holes reported. Based on previous results the company has decided to cover with IP and Magnetic geophysical surveys the remaining 60% of the property to define areas for future drilling and also to perform additional drilling to test the porphyry potential in the El Moreno-Cerro Colorado areas.
  • Advance Gold Corp., provided an update on exploration plans on its Tabasquena project in Zacatecas. Advance is exploring for a large epithermal vein system and plans to drill-test a feeder system type target named SG3.
  • Evrim Resources Corp., reported initial drill results from its Cuale project in Jalisco. A total of 1,167m have been completed of a planned 3,000m program. Evrim released assay results from four of the five drill holes targeting the La Gloria prospect with the most significant results in Hole GLR18-01 with 14m of 1.92 g/t Au and another deeper interval with 10.2m of 1.58% Cu; Hole GLR18-02 with 17m of 0.52 g/t Au; and Hole GLR18-03 with 29m of 0.87 g/t Au. The company has moved the rig near the North Dome target to drill-test additional targets.

ON MINING

  • US Antimony Corporation, reported that 160.8K Lb Sb were produced during November, 2018 from their Mexican operations (Soyatal, Queretaro and Wadley, San Luis Potosi).

ON FINANCING

  • No relevant news.

 ON RESOURCES AND DEVELOPMENT

  • Colibri Resource Corporation, clarified its resource estimation at its El Pilar project in Sonora. The company had released previously an in-house resource calculation of 700,000 tonnes of 1.9 g/t Au but it included historical drill holes reported by a previous operator, whereby this estimation is not NI 43-101 compliant and should not be relied upon.
  • Avino Silver & Gold Mines Ltd., released results from 11 holes drilled on the Avino vein stockwork system at its Avino open pit mine in Durango. 924.65m were drilled at the western end of the open pit in an area called El Hundido. Significant results are in Hole ET-18-03 with 05m of 0.03 g/t Au, 93 g/t Ag,  and 0.15% Cu, including 8.40m of 0.01 g/t Au, 325 g/t Ag, and 0.22% Cu; Hole ET-2018-04 with 3.95m of 1.47 g/t Au, 323 g/t Ag, and 0.30% Cu; Hole ET-2018-11 with 18.85m of 0.62 g/t Au, 84 g/t Ag, and 0.15% Cu, including 4.15m of 0.6 g/t Au, 144 g/t Ag, and 0.07% Cu and 1.25m of 2.81 g/t Au, 344 g/t Ag, and 1.69% Cu; and Hole Et-2018-12 with 1.10m of 0.60 g/t Au, 408 g/t Ag, and 1.88% Cu and other interval with 21.05m of 0.35 g/t Au, 79 g/t Ag, and 0.58% Cu, including 5.25m of 0.53 g/t Au, 155 g/t Ag, and 0.85% Cu, and 4.55m of 0.76 g/t Au, 121 g/t Ag, and 1.40% Cu. Based on these encouraging results, the company is adding easily accessible mineable resources.
  • Gold Resource Corporation, released drill results from the Switchback vein system as well as from a newly discovered mineralized veins at a target called Andesite Hill. These results extend the strike length by approximately 100m to the northwest and expand the vertical extent in depth and height at its Arista mine in Oaxaca. Significant results at the Switchback vein system are in Hole 518013 with 4.17m of 4.17 g/t Au, 63 g/t Ag, 0.68% Cu, 0.8% Pb, and 1.5% Zn, including 1.25m of 7.45 g/t Au, 102 g/t Ag, 0.63% Cu, 1.1% Pb, and 1.8% Zn; and Hole 518020 with 16.95m of 6.21 g/t Au, 80 g/t Ag, 0.52% Cu, 1.8% Pb, and 4.5% Zn, including 2.2m of 9.28 g/t Au, 81 g/t Ag, 0.87% Cu, 2.0% Pb, and 8.9% Zn, and including 1.3m of 25.1 g/t Au, 244 g/t Ag, 0.91% Cu, 2.4% Pb, and 5.1% Zn. Highlights at the Andesite Hill target are in Hole 518010 with 1.13m of 0.46 g/t Au, 77 g/t Ag, 0.35% Cu, 2.2% Pb, and 4.1% Zn and 0.48m of 1.42 g/t Au, 342 g/t Ag, 0.11% Cu, 0.3% Pb, and 0.3% Zn; and Hole 518011 with 0.30m of 5.47 g/t Au, 2,510 g/t Ag, 0.58% Cu, 0.8% Pb, and 1.6% Zn, and 2.29m of 4.01 g/t Au, 580 g/t Ag, 0.36% Cu, 3.8% Pb, and 5% Zn, including 0.72m of 5.89 g/t Au, 739 g/t Ag, 0.32% Cu, 1.7% Pb, and 7% Zn.
  • US Antimony Corporation, announced an update on the leach plant for the Los Juarez Au-Ag-Sb property in Queretaro, reporting that most of the equipment for the Puerto Blanco Plant is being installed at the Puerto Blanco Mill. Projects underway include finishing the tailings pond, wiring, plumbing, and completing the building.
  • Minera Alamos Inc., provided a year-end development update on its Santana project in Sonora. The company mined from Nicho Norte 50K tonnes of mineralized material to run heap leach tests to evaluate grades, recoveries, reagent consumptions, etc. Minera Alamos also reported that the Phase 1 drill program was successful on the Nicho Main Area where the holes intersected significant intervals including 127m of 0.81 g/t Au, 80.4m of 1.05 g/t Au, and 93.5m of 0.65 g/t Au. It also discovered the Divisadero porphyry target located approximately 200m north of the Nicho Norte Zone where a drill hole intersected 95.7m of 0.85 g/t Au, 10 g/t Ag and 0.33% Cu.   A Phase 2 drill program will commence shortly to follow-up on new discoveries made at Santana. Minera Alamos has been active in developing a strategy that allows them to take a decision to develop and construct the mine in Q1 2019 if the results are positive.

ON DEALS AND CORPORATE ISSUES

  • Candelaria Mining Corp., acquired the remaining 40% ownership of its Pinos project in Zacatecas by issuing 7,075,472 common shares to Minera Apolo S.A. de C.V.
  • Colibri Resource Corporation, entered in an agreement with Agnico Eagle Mines Limited to sell its Pitaya project interest in Sonora. Considerations in connection with the sale transaction could be paid by one of more third parties in cash or securities or a combination of cash and securities with Colibri receiving its proportionate share or paid by a lump sum cash payment from Agnico in the amount of $500K.
  • Mexican Gold Corp., acquired 100% interest in the Pepe, Pepe Tres and San Jose concessions at its Las Minas project in Veracruz by making a final payment of US$ 866,666. The owners will retain a 1.5% NSR of which one third may be purchased by US$ 500K at any time. Mexican Gold also has a right of first refusal in the event that the owners intend to transfer all or part of the remaining 1% royalty.
  • Radius Gold Inc., announced its intention to issue 74, 183 common shares to the project owners in accordance of its option to acquire a 100% interest of the Amalia property in Chihuahua. The shares will be issued at a deemed price of $0.90 per share.

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, a mesothermal quartz vein in an Au orogenic prospect in Oaxaca, Mexico.  Photo by Miguel A Heredia.