VANCOUVER, British Columbia, Nov. 23, 2017 (GLOBE NEWSWIRE) — Evrim Resources Corp. (TSX-V:EVM) (“Evrim” or the “Company”) is pleased to announce the acquisition and initial exploration results of the Cuale gold property, an early-stage exploration property prospective for high sulphidation epithermal gold-silver in Jalisco, Mexico. The Cuale project was initially staked under the Callinan Royalties Generative Alliance (now owned by Altius Minerals Corporation (TSX:ALS)) with formal title granted to Evrim for 100% ownership in November 2017.
November 2, 2017 (Toronto, Ontario): Sable Resources Ltd. (“Sable” or the “Company”) (TSXV: SAE) is pleased to announce that it has entered into definitive agreements dated as of October 31, 2017 (the “Master Agreements”) providing for the acquisitions (the “Acquisitions”) by Sable of BlueJoint Resources Inc. (“BlueJoint”) and Western Canada Greenfields Group Inc. (“WCG”). Each of BlueJoint and WCG are private companies engaged in mineral exploration activities. The Acquisitions are subject to the satisfaction or waiver of certain customary closing conditions, including the approval of the TSX Venture Exchange (“TSXV”) and approval by shareholders of each of BlueJoint and WCG.
BlueJoint systematically explored 1.74 million hectares in 10 target areas considered highly prospective and underexplored for precious metal epithermal mineralization in Mexico. This systematic exploration consisted of 10,623 high-density stream sediment samples, 1636 rock samples and 1,122 soil samples as well as geologic mapping and mineral occurrence reviews. This work generated 143 new, previously unknown targets of which 96 await evaluation, 26 have been recommended for further work and two targets; Vinata and El Escarpe are drill ready and have completed independent technical reports prepared in compliance with National Instrument 43-101 (“NI 43-101”). Sable will acquire 100% of the mineral rights that cover these targets consisting of five mineral applications and one mineral title.
VANCOUVER, BRITISH COLUMBIA, November 9, 2016 – Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) (“Millrock”) is pleased to report that the first phase of surface exploration on the La Navidad gold project is near completion, and a drilling program has begun. The project, located in Sonora State, Mexico, 100 km north of the City of Hermosillo, targets orogenic gold deposits. Highlights of a rock sampling program include:
- 24 meters grading 0.9 grams per tonne gold;
- 12 meters grading 1.1 grams per tonne gold;
- 14 meters grading 0.8 grams per tonne gold.
A drilling program consisting of approximately 2,000 meters in nine drill holes is in progress and is planned for completion in December.
Vancouver, British Columbia / TheNewswire / October 18, 2017 – Harvest Gold Corporation (TSX.V:HVG) (“Harvest Gold” or the “Company”) and Evrim Resources Corp. (“Evrim”) (TSX.V:EVM) are pleased to announce soil sampling results from its Phase 1 exploration program at the high-grade Cerro Cascaron gold-silver project in Mexico.
The extensive soil sampling program covered an area of 4.5 kilometres by 1.6 kilometres north of the main gold vein field. Results have extended known veins, identified two new corridors and have highlighted a 1.4 kilometre-long, very strong gold-silver trend to the north of the highly prospective Serpiente Dorada vein. Highly anomalous soil samples, including one that assayed 1.38 grams per tonne (“g/t”) gold were also collected in the corridor where Serpiente Dorada intersects a newly identified, 1.8 kilometre long gold rich corridor (the “new vein corridor target”).
During the 37th week of the year (September 11th to September 17th, 2017), at least 27 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, Mexican fiscal authorities and Canadian mining companies maintain dialog on delayed tax reimbursements for $360 M. ON EXPLORATION, in Sonora, Canuc released results on phase I of drilling at is San Javier project, while SilvercCrest informed on phase II drill results from the Babicanora vein on its Las Chispas property. In Veracruz, Almadex disclosed results from one more hole from the Norte zone of its El Cobre property. In Durango Golden Minerals is to drill test its Mogotes project. ON MINING, MX Gold is on track to complete plant expansion, and presented results from metallurgical tests at Magistral, in Durango. Mexus Gold and MarMar Holdings announced first dore production at Santa Elena, in Sonora. US Antimony presented an update on its Mexican operations in Guanajuato, Queretaro and Zacatecas. Impact Silver presented drill results from El Paso vein at its Zacualpan property in Estado de Mexico. Starcore presented financial results for the first quarter. ON FINANCING, Silver One, Southern Silver and Defiance Silver opened, extended or closed tranches of financing for $8.25 M. Minera Alamos and Leagold started trading in the US. ON RESOURCES AND DEVELOPMENT; Silver Bull released high-grade results from underground channel sampling at Sierra Mojada, Coahuila. Capstone announced good drill intercepts at Cozamin, Zacatecas. Americas Silver presented an update on development work at San Rafael in Sinaloa. Oceanus announced an updated mineral resource for El Tigre, in Sonora. Levon finished an infill drilling campaign at Cordero in Chihuahua. Mexican Gold filed at SEDAR the resource estimate for Cerro Las Minas, Veracruz. ON DEALS AND CORPORATE ISSUES, Endeavour Silver and Capstone are to share mining concessions in Zacatecas, on an arrangement based in the elevation of mineralization.
ON MEXICO ISSUES
- Mexican fiscal authorities and Canadian mining companies maintain a table of dialog on delayed tax reimbursements for $360 M, according to José Antonio Meade (head of the IRS equivalent agency) and Bill Morneau (Canadian Finance minister). They pointed out at a joint press conference that the situation is to be solved by dialogue and under the legal framework, with the aim to avoid this situation to have an effect on Canadian investment in Mexico. Bill Morneau pointed out that the common objective is to keep Canadian companies taking opportunities in the mining sector; while Meade said that the intention is to create an adequate investment environment for companies to feel at ease, with confidence in Mexico as a country under the rule of law. According to the latter, 40% of Canadian investment in Mexico is on the mining sector.
- Canuc Resources Corp. released results from the phase I drill program at its San Javier project in Sonora. A total of seven holes have been drilled on the Santa Rosa vein, over 430 m of strike length. The vein has been confirmed an all holes, remaining open in all directions. Drill intercepts include 4.35 m @ 202 g/t Ag, 0.57 g/t Au, 2.7% Pb, 2.6% Zn; 3.32 m @ 326 g/t Ag; 6.0 m @ 1.74 g/t Au; 1.0 m @ > 1,000 g/t Ag, 3.83 g/t Au, 8.2% Pb, 4.3% Zn; 0.80 m @ 270 g/t Ag, 1.79 g/t Au, 2.1% Pb, 0.8% Zn, the last two intercepts in two splays of a new vein. To note is the 43 m intercept of thin quartz and barite stringers containing disseminates and patchy sulfides, including galena and sphalerite. The stockwork is hosted by quartzite, conglomerate and siltstone.
- SilverCrest Metals Inc. released phase II drill results from the Babicanora vein at its Las Chispas property in Sonora. True width intercepts in the Babicanora vein include 3.7 m @ 2.58 g/t Au, 333 g/t Ag; 3.6 m @ 0.14 g/t Au, 267 g/t Ag; 4.8 m @ 4.63 g/t Au, 251 g/t Ag; 0.5 m @ 4.78 g/t Au, 37 g/t Ag; 2.2 m @ 1.91 g/t Au, 139 g/t Ag; 1.9 m @ 0.29 g/t Au, 394 g/t Ag; 2.1 m @ 2.01 g/t Au, 160 g/t Ag. The average estimated true width and grade for 16 drill intercepts of the high-grade footprint is 4.0 m @ 2.88 g/t Au, 275 g/t Ag. The Babicanora vein has been traced on the surface for 3 km, of which SilverCrest has tested only 20% of that strike length.
- Almadex Minerals Ltd. disclosed results from the last hole at the Norte zone, in its El Cobre project in Veracruz. The hole intersected 273.50 m @ 0.59 g/t Au, 0.21% Cu; including 206.7 m @ 0.74 g/t Au, 0.26% Cu;, which in turn include 151.0 m @ 0.88 g/t Au, 0.30% Cu. This hole was drilled between two other mineralized holes to test for continuity.
- Golden Minerals Co. is to start a 1,500 m drilling program at its Mogotes property in Durango, on the third week of September 2017. The plan is to test 1.5 Km of silicification and breccias up to 500 m in width, partially controlled by a fault that juxtaposes Tertiary volcanic rocks with Cretaceous limestone. The zone is highly anomalous in arsenic and antimony, with erratic gold values of up to 1.8 g/t in surface rock samples.
- MX Gold Corp. confirmed being on track for plant expansion on its Magistral tailings project in Durango. Although on a non-43-101 complaint basis, the company estimates 1.2 M tonnes @ 2.06 g/t Au, 3.9 g/t Ag, a recovery rate of 76% Au, 45% Ag at a production rate of 30 K tonnes per year, and a life of project of 3.5 years.
- Mexus Gold US. Along with JV partner MarMar Holdings announced the production of the first dore from its Santa Elena mine in Sonora (not to mistake with First Majestic’s Santa Elena mine, also in Sonora). The ore currently being placed on the heaps averages 2 g/t Au, with an expected recovery rate of 76%. The goal is to bring production to 10,00 tonnes per day (tpd).
- United States Antimony Corp. reported successful production of antimony tri-sulfide per military MIL-A-a59D specification. Additional equipment is being installed to enter the market. SEMARNAT is expected to approve the cyanide circuit at the Puerto Blanco mill in Guanajuato for Los Juarez property (Queretaro) within 30 days. Powder magazines are being built at Soyatal (Queretaro) and a reopening a road at Guadalupe (Zacatecas).
- MX Gold Corp. performed metallurgical tests on samples from backhoe pits at its tailings Magistral project in Durango. The aim of the test was to confirm the results obtained by previous studies. Gold recoveries at the Met-Solve Lab in Surrey, BC, Canada, ranged from 72.4% to 89.9%, silver from 22.7% to 64.9% and copper form 14.9% to 54.4%.
- Impact Silver Corp. disclosed assay results from a drilling on the El Paso vein, at its Zacualpan property in Estado de Mexico (Mexico State). The hole intersected 3.38 m (TW) @ 834 g/t Ag. Including 1.26 m @ 1,448 g/t Ag. A new vein was encountered further down hole, with 1.3 m of core length @ 199 g/t Ag. Other drill holes intersected 1.4 m @ 122 g/t Ag; 1.6 m @ 113 g/t Ag on El Paso vein, and a further down hole 1.58 m core length intercept @ 240 g/t Ag. The El Paso vein passes less than one kilometer from Impact’s Guadalupe mill, and has been traced on the surface for 2.1 Km from El Paso adit, with widths ranging up to 13 m in the El Capulin adit. Better access on the San Felipe workings is to be completed in order to prepare underground drill stations.
- Starcore International Mines Ltd. reported financial results for the first quarter ended July 31, 2017. During the period 3.7 K Oz Au, 15.2 K Oz Ag were produced by milling 69.8 K tonnes of ore @ 1.97 g/t Au, 12.6 g/t Ag, with recoveries of 85.0% Au, 51.2% Ag at a cash cost of US$1,052 per gold equivalent ounce. Cash and short-term investment of CAD$7.4 M at the end of the period (San Martin mine, Queretaro).
- Silver One Resources Inc. is to conduct a non-brokered private placement aiming to raise gross proceeds of up to $4 M (Peñasco Quemado, Sonora).
- Minera Alamos Inc. has received approval for OTCQB listing in the United States (La Fortuna, Durango).
- Southern Silver Exploration Corp. extended the final closing of its previously announced brokered private placement until September 29, 2017. In total, the company has closed two tranches for total gross proceeds of $3 M (Cerro Las Minitas, Durango).
- Defiance Silver Corp. announced the closing of the first tranche of $1.25 M of a non-brokered private placement (San Acacio, Zacatecas).
- Leagold Inc. commenced trading on the OTCQX® Best Market in the United States, on September 15th, 2017 (Los Filos, Guerrero).
ON RESOURCES AND DEVELOPMENT
- Silver Bull Resources, Inc. released further assay results from channel sampling at its Sierra Mojada project in Coahuila. The channel sampling was continuous over the strike length of an east-west trending high angle structure on old mine workings, with the structure 2 to 3 meters in width in places. The 117 sample program results highlights a zone of sulfide mineralization 160 m below the surface with 94.5 m @ 9.7% Zn, 124 g/t Ag, 1.6% Pb, 0.46% Cu; including 31.5 m @ 22.4% Zn, 134 g/t Ag, 2.0% Pb, 0.2% Cu; 9.0 m @ 10.2% Zn, 21 g/t Ag; 10.5 m @ 432 g/t Ag, 1.1% Zn, 1.2% Cu (Note of editor for clarity.- The samples were not collected across mineralized widths).
- Capstone mining Corp. announced drill results of step-out drilling at its Cozamin mine in Zacatecas. Four holes have been completed near the southern limit of Capstone’s concessions with Endeavour’s concessions (see recent deal details between both companies below), with Highlighted drill intercepts of (estimated true width, “TW”) 14.4 m @ 2.2% Cu, including 6.3 m @ 4.4% Cu; 15.0 m @ 1.0% Cu, 0.4% Zn, 0.1% Pb, 19 g/t Ag; 4.6 m @ 3.0% Cu, 0.5% Zn, nil Pb, 54 g/t Ag. This zone is almost 600 m along strike from Cozamin’s current indicated mineral resource.
- Americas Silver Corp. informed on the Development of the San Rafael project, part of its Cosalá operations in Sinaloa. Development to the southern lobe of the Main Zone began in January, and ore is now mined from two development headings, with two levels being prepared for production. Ore from three additional headings will be added to the stockpile within the next week. The primary ramp to the bulk of the deposit is progressing, with 480 m of advance needed to reach the bottom of the Main Zone. Process plant modifications are progressing, with initial concentrate production from San Rafael expected before the end of September 2017.
- Oceanus Resources Corp. announced an updated mineral resource estimate for its El Tigre property in Sonora. The resource includes two open pit and two underground operations at the El Tigre and Fundadora veins. The open pit operations contain 430 K Oz Au, 14.3 M Oz Ag and 73 K Oz Au, 9.6 M Oz Ag as indicated and inferred resources respectively. The underground resources carry 6 K Oz Au, 1.3 M Oz Ag; 38 K Oz Au, 9.1 M Oz Ag as indicated and inferred resources respectively. The total hard rock resource is 25.9 M tonnes @ 0.52 g/t Au, 19g /t Ag, containing 436 K Oz Au, 15.7 M Oz Ag and 6.6 M tonnes @ 0.52 g/t Au, 89 g/t Ag as indicated and inferred resources respectively. The tailings resource is 939 K tonnes @ 0.27 g/t Au, 78 g/t Ag, containing 8 K Oz Au, 2.3 M Oz Ag; 1 K Oz Au, 254 K Oz Ag as indicated and inferred resources respectively.
- Levon Resources Ltd. completed 5,655 m of core drilling in 18 holes at its Cordero project in Chihuahua. “The 2017 holes were drilled to test for near surface, higher gold grades within multiple rhyolite intrusives that make up the volcanic Cordero Felsic Dome Complex, and higher grade mineralization in contact breccia bodies that could improve a starter open pit configuration in the southwest part of the Resource.” Assays are pending.
- Mexican Gold Corp. filed at SEDAR the technical report on the mineral resource estimate for its Las Minas project in Veracruz. The report states an inferred resource of 719 K Oz AuEq contained in 10.3 M tonnes @ 2.17 AuEq and total measured and indicated resources of 304 K Oz Au in 4.97 M tonnes @ 1.90 g/t AuEq.
ON DEALS AND CORPORATE ISSUES
- Endeavour Silver Corp. and Capstone Mining Corp. entered into an agreement under which Endeavour has the right to explore and mine for precious metals above 2,000 m elevation (meters above sea level, or “mas”) on Capstone’s the Toro del Cobre claim, adjacent to Endeavour’s Calicanto concessions in Zacatecas. Endeavour granted Capstone the right to explore and mine for base metals below the elevation of 2,000 m (mas). The deal was done on the understanding of mineralization zonation in the district, with precious metals mineralization over 2,000 m elevation and base metals occurring below that mark (Note of editor.- This type of deal is not common in Mexico, and reveals a “Think outside of the box” attitude by both companies).
- Magellan Gold Corp. and Rose Petroleum PLC signed a definitive and binding stock purchase agreement on Magellan’s acquisition of the mineral processing mill operation in San Dieguito de Arriba, Nayarit. The purchase total consideration is US$1.5 M, consisting of $1.0 M in cash and $500 K in Magellan stock, of which $100 K in cash has already been paid. Magellan has arranged $900 K in irrevocable bridge loans in support of its option to purchase the 200 tpd mill.
- Advance Gold Corp. is to acquire a 100% interest in the Tabasqueña silver mine in Zacatecas. Upon receipt of regulatory approval, Advance will issue Hot Spring Mining, a Mexican based corporation, 1 M common shares. Hot Spring is to retain a 2.5% NSR, of which Advance has the right to buy 1.5% at a rate of CAD$500 K per 0.5%.
- Dyna Resources Mexico, S.A. de C.V. announced that it has received a favorable ruling with the dismissal by a court in Veracruz of Goldgroup Resources Inc.’s amparo trial challenge to the US$48 M damages award previously granted in favor of Dyna.
- Orex Minerals Inc. was made aware that Canasil Resources Inc. has been named in a lawsuit brought by Pan American Silver Corp. with the BC Supreme Court, regarding the mineral claims making up the Sandra Escobar project in Durango. Orex earned 55% ownership on the project from Canasil, interest that could be impacted if Pan American Silver’s claim is proven.
Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.
On the picture below, the ignimbrites of the Sierra Madre in Chihuahua, near Batopilas. Photo by Jorge Cirett.
GOLDEN, Colo., Sept. 15, 2017 (GLOBE NEWSWIRE) — Golden Minerals Company (“Golden Minerals”, “Golden” or “the Company”) (NYSE American:AUMN) (TSX:AUMN) is pleased to share a business update, including:
- 1,500 meter initial drill program at its Mogotes property (Durango, Mexico) is scheduled to start the week of September 18, 2017
- Dewatering of El Quevar underground workings is planned to accommodate a potential drill program (Salta, Argentina)
- A re-modeling of El Quevar’s silver deposit resource is underway to identify a potentially economic resource in the core of the Yaxtche deposit
- Argentina Value Added Tax (“VAT”) refunds received totaling US$1.1 million in second and third quarters of 2017
- Further to the Company’s September 7, 2017 news release announcing the start of a new drill program at its Santa Maria property (Chihuahua, Mexico), three holes totaling 700 meters have been completed as of September 11, 2017, with drilling ongoing
Golden Minerals President and Chief Executive Officer Warren M. Rehn commented, “We are dedicated to unlocking the full value of our existing resources and infrastructure in Mexico and Argentina. The drill program at Mogotes is a first test of an extensive altered area that shows signs of being a productive epithermal system hosted in volcanic rocks within a few kilometers of our existing mills at Velardena. Surface values from channel samples show strongly anomalous gold, arsenic and antimony values associated with hydrothermal breccia veins and silicification along a major fault structure.
Southern Silver Exploration Corp (TSX-V: SSV; “Southern”) reported today on its surface float sampling program for the newly acquired Biznagas and Los Lencho claims located contiguous to the larger Cerro Las Minitas property, Durango State, Mexico.
These strategic claims were acquired and are being explored for possible epithermal vein systems, similar to productive veins at the nearby Avino Gold-Silver Mine and San Sebastian Mine which are different from the Skarn/CRD type mineralization identified at Southern’s flagship project Cerro Las Minitas.
Southern’s current surface program has been encouraging in this regard and has returned multiple float samples with strongly anomalous values of gold (0.25 to 1.28g/t Au), silver (11.6 to 57.2g/t Ag), arsenic (132 to 1155ppm), antimony (383 to 777ppm Sb) and mercury (6.1 to 45.9ppm Hg). Anomalous samples occur in three main clusters containing elevated silver values along a 7 kilometre NW-SE transect through the two claims as well as several other smaller target areas that require additional follow-up exploration.
VANCOUVER, BRITISH COLUMBIA, Jun 19, 2017 (Marketwired via COMTEX) — VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 19, 2017) – Riverside Resources Inc. (“Riverside” or the “Company”) (RRI)(otc pink:RVSDF)(frankfurt:R99), has completed an initial nine-hole diamond core drilling program at the 4 km2 Pitaya Target within the 36 km² Glor Gold Project (the “Project”), which is being explored with funding by partner, Centerra Gold Inc. (“Centerra”). The Project hosts five key target areas and is located approximately 8 km west of Alamos Gold’s El Chanate Mine in Sonora, Mexico. The recently completed drill program focused on the Pitaya Target located in the north-eastern sector of the Project, which had been defined by partner-funded soil geochemistry and induced polarization geophysical surveys and then further investigated with mechanical trenching and chip-channel sampling (see Company press releases issued on February 15 and April 17, 2017).
BRIDGEWATER, NOVA SCOTIA–(Marketwired – Dec. 19, 2016) – Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) (TSX VENTURE:SSE)(FRANKFURT:S6Q) is pleased to provide the latest results from its ongoing reconnaissance and sampling program at its recently acquired Encino De Oro project near Chinipas, Chihuahua, in Mexico. The field crew was led by Leonard J. Karr, CPG, and a third party Qualified Person for Silver Spruce.
To date, a total of 42 chip channel and grab samples have been taken from outcrop, subcrop and float over an area of 3 square kilometres at the Encino De Oro project. Assays of these samples range from a less than detectable to as much as 8 grams per tonne (“g/t”) gold (Au), and 77 g/t silver (Ag), with anomalous values of copper (Cu), lead (Pb), zinc (Zn), arsenic (As) and antimony (Sb).
During the first week of December at least twenty press releases were announced by companies working in Mexico, including two third quarter reports. ON MEXICO ISSUES, China is already the third biggest foreign player in Mexico. ON EXPLORATION, a PFS was completed on a property in Durango, while in Chihuahua a drilling campaign continues and another one is on the planning stage. In Sonora results from a drilling campaign on a gold property were released, as were surface rock chip results from one Li property. In Hidalgo a property was staked, showing interesting initial rock chip sample results, whereas in San Luis Potosi and Zacatecas assay results were released for a Li property. ON MINING, construction of a heap leach processing plant has begun in a project in Sonora, while in Sinaloa the high grade output was increased in one property, and development work continues in another one. In Queretaro a flotation mill continues with production tests. ON FINANCING, A C$10 M bought deal financing was completed by a company. ON RESOURCES, a technical report with a maiden resource was filed at SEDAR, and a PFS was completed on another, both from properties in Durango. ON DEALS AND CORPORATE ISSUES, the saga for the control of a property in Sinaloa continues, a property was optioned and one more sold, both in Sonora. A company is applying to be listed in USA and a second payment has been made on the option to earn interest on a tailings property in Durango.
ON MEXICO ISSUES
- Mexico sets its eyes in China for investment in mineral resources. China is already the third most active foreign player in the Mexican mining sector, according to Mario Cantu, General Coordinator of Mining at the Ministry of Economy. The Ministry of Economy is currently setting up a taskforce in a bid to streamline the process of permit approvals that clarify the requirements for purchasing and renting mining concessions.
- Telson Resources Inc. announced the completion of a pre-feasibility study (PFS) on its Tahuehueto property in Durango. The report states a proven mineral reserve of 3.3 M tonnes @ 3.4 g/t Au, 41 g/t Ag, 0.31% Cu, 1.1% Pb and 2.0% Zn, to be mined mainly by underground cut and fill method at a 790 tpd rate, with a mine life of 21 years. The reserves contain 356 K Oz Au, 4.38 M Oz Ag, 25 M Lbs Cu, 85.7 M Lbs Pb, and 161.3 M Lbs Zn.
- Levon Resources Ltd. intends to proceed next year with a drilling program on its Cordero project in Chihuahua, once the silver price moves up in a “sustained and positive way.” The program will target the center of the pit resource, in a claim acquired after the resource was delineated.
- Alix Resources Corp. reported more lithium-rich clay layers identified at its Electra project in Sonora. Assays from 31 samples returned 10 samples over 1,000 ppm Li. Clay layers are traced for approximately 4.5 km, over a surface up to 800 m in width.
- Kootenay Silver Inc. continues the drilling campaign on its La Cigarra project, in Chihuahua. Samples from six more holes have been sent for assaying, and drilling is now continuing on the La Soledad structure, where a breccia zone can attain eight meters in width.
- Prospero Silver Corp. staked a 4,690 ha mining concession in a high level epithermal vein system 85 km NW from Pachuca, in Hidalgo. The La Florida vein system is over 3.5 km long, with eight out of 22 samples returning 0.1 – 0.5 g/t Au and 1.4 – 11.1 g/t Ag, up to 525 ppm As, up to 6 ppm Hg and up to 6,860 ppm Sb. An additional structure, at least one kilometer long, returned on the only two samples 0.6, 0.61 g/t Au; 2, 2, g/t Ag; 1,595, 1,945 ppm As; and 1.7, 2.1 ppm Hg.
- Alset Energy Corp. released assay results for 30 samples collected by the previous owner of the company, for three of the salars: La Salada, Santa Clara and Caligüey. The results run from 340 to 1,680 ppm Li, a bit lower than the previous assay results of 411 to 2,590 ppm Li. Potassium values range from 1.57% to 4.78%. Studies on x-ray diffraction show none to very small amounts of smectite, which points to Li not being inside the clay structure and an easier extraction.
- Millrock Resources Inc. completed a ten hole 1,990 m drilling program at Los Chinos project in Sonora. The property is under a JV with Centerra, where the company can earn a 70% interest by funding US$5 M. Three target areas were tested; El Camino, La Tinaja and Pitalla zones. The best intersections were 4 m @ 0.69 g/t Au and 6.3 m @ 0.18 g/t Au.
- Corex Gold Corp. has begun construction of its heap-leach Santana project in Sonora. The initial step involves forming two heaps, one with jaw-crushed material and the other with fine crushed, to test metallurgical recoveries.
- Marlin Gold Mining Ltd. crushed 127.5 K tonnes of ore @ 5.26 g/t Au during November at its La Trinidad mine in Sinaloa. During the same period 21,567 Oz Au were stacked on the heaps, and 279 Oz Au recovered daily. Cash cost is estimated to be below $400 per gold ounce for the month.
- United States Antimony Corp. continues production testing with an alkaline leach plant in Guanajuato, to process material from its Los Juarez mine in Queretaro. The two options under consideration are to use the flotation mill and the alkaline leach circuit, or to use the flotation mill, alkaline leach circuit, and the cyanide leach plant for the mill tailings. To date tests have shown recoveries of 50%, 70% and 70% for Au, Ag and Sb respectively under the first option, and 90%, 90% and 70% for Au, Ag and Sb respectively under the second option.
- Americas Silver Corp. continues with the primary ramp development at its San Rafael project in Sinaloa, which is expected to reach commercial production in Q3 2017. The ramp is now 25 % complete, the electrical substation has been energized and water storage facilities have been constructed.
- DynaResource Inc. processed 5,075 tons of feed material @ 11.38 g/t Au grade at its pilot mill in its San Jose de Gracia property in Sinaloa. The pilot mill facility averaged 182 tpd output.
- SilverCrest Metals Inc. completed a CA$10 M bought deal financing (Las Chispas, Sonora).
- Orex Minerals Inc. filed on SEDAR a technical report for the first inferred resource estimate of the Sandra Escobar project in Durango. Utilizing 59 drill holes and a 45 g/t Ag cut-off base case, the inferred resource estimate yielded 9.8 M tonnes @ 106 g/t Ag, for a total of 33.3 M Oz Ag.
- Telson Resources Inc. announced the completion of a pre-feasibility study (PFS) on its Tahuehueto property in Durango. The reserves contain 356 K Oz Au, 4.38 M Oz Ag, 25 M Lbs Cu, 85.7 M Lbs Pb, and 161.3 M Lbs Zn. The total resource (inclusive of mineral reserves) includes 6.1 M tonnes @ 2.1 g/t Au, 48 g/t Ag, 0.375 Cu, 1.36% Pb, 2.25% Zn on the measured and indicated categories, and 3.5 M tonnes @ 1.5 g/t Au, 41.6 g/t Ag, 0.32% Cu, 1.33% Pb, 2.21% Zn on the inferred category, for total contained metal amounts of 634 K Oz Au, 12.6 M Oz Ag, 61.8 M Lb Cu, 265.3 M Lb Pb and 483.9 M Lb Zn.
ON DEALS AND CORPORATE ISSUES
- Dyna Resource de Mexico S.A. de C.V. has seized assets of Goldgroup Resources Inc. as part of a US$48 M damages award. A lien was approved upon stock certificates in the name of Goldgroup Resources Inc.
- Riverside Resources Inc. signed an option agreement with Silver Viper Minerals Corp. on its Clemente project in Sonora. Silver Viper can earn a 100% on the project by staged payments on five years to sum $750 K, delivering 2 M shares and investing $4 M during the life of the option, Riverside will retain a 2% NSR, same that can be bought for $4 M.
- Americas Silver Corp. has initiated the process to become listed on the NYSE MKT, and is to undergo a voting for a needed share consolidation in the procedure.
- Santacruz Silver Mining Ltd. has entered into an agreement with a private Mexican company based in Hermosillo (the “Hermosillo Group”) to sell 100% of its interest in the San Felipe project in Sonora. The deal involves a cash consideration of US$15 M, in three installments, with the final one on February 15, 2017.
- MX Gold Corp. has paid the second installment of $750 K in its agreement to gain 50% interest on the Magistral del Oro tailings project in Durango. Two more $750 K payments are to be made before January 19, 2017, to earn that 50% interest. The tailings have an historical (non 43-101 compliant) estimate of 1.25 M tonnes @ 2.06 g/t Au.
Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.
On the picture below, flow banding on a rhyodacitic dome, Zacatecas Altiplano. The flow bands are a few millimeters thick.