Two rigs currently drilling on 120 hole, 7,000m resource drill-out of Oposura
• Additional exploration drilling will test for extensions and repetitions
• Mineral resource estimate aimed for early 2018
• Six rigs now operating across three projects, delivering continual news flow
over coming months Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to advise that two diamond core rigs are drilling on its 100%-owned Oposura zinc-lead-silver project, located in the northern Mexican state of Sonora.
Azure’s first drilling program at its flagship project is designed to enable the Company to complete a Mineral Resource estimate by the end of March 2018.
Commenting on the drilling, Azure Managing Director, Mr Tony Rovira, said, “This is a very exciting time for Azure. With drilling underway at Oposura, the Company now has six rigs turning on three different projects, delivering a continual news flow over the next few months.
“Programs range from first-pass drilling on the exciting Sara Alicia gold-cobalt prospect to the resource drill-out program at Oposura, as well as deep exploration drilling being undertaken at Alacrán by our partner Teck Resources.”
During the 41st week of the year (October 9th to October 15th, 2017), at least 24 press releases were announced by companies working in Mexico, including seven quarterly reports. ON MEXICO ISSUES: The Secretaría de Economía announced the liberation of over 195 K hectares of ground for staking. ON EXPLORATION: Eight companies disclosed exploration efforts during the week: In Sonora, Azure Minerals is about to start drilling its Oposura and Sara Alicia projects; Canuc Resources released underground and surface rock sampling results from its San Javier project; Colibri Resource released an exploration update of its Evelyn project; Silver Viper is drilling its Clemente project. In Sinaloa Chesapeake Gold commenced a 5,000 m drilling program focused in two prospects on its Yarely project. In Coahuila, Discovery Metals received the environmental permit to drill five of its projects; Silver Bull Resources released the results from the first two underground holes to test high grade structural feeders at its Sierra Mojada project. ON MINING: Endeavour Silver, Capstone Mining, Leagold Mining, Great Panther Silver, Alamos Gold, Gogold Resources and Alamos Gold reported preliminary third quarter results. Torex Gold signed a 25 year land agreement with the Puente Balsas Sur Ejido, needed for the exploration and operation of its Media Luna project in Guerrero. Telson Resources received the environmental permit for mine and related infrastructure on its Tahuehueto project in Durango. ON FINANCING: Colibri Resources settled a $10 K debt by issuing shares to one of its directors. Sierra Metals entered into an open market agreement with a consortium to raise up to $55 M on the NYSE market. Fortuna Silver’s CEO bought approximately US$430 K shares of the company in the open market. Oroco Resources intends to complete a non-brokered private placement to raise up to $600 K. ON RESOURCES AND DEVELOPMENT: Fortuna Silver released exploration results from its San Jose property in Oaxaca, including high-grade drilling results. ON DEALS AND CORPORATE ISSUES: No Relevant news.
ON MEXICO ISSUES
- The Secretaría de Economía (Bureau of Economy) released the long due and eagerly awaited second release of previously held land of 2017, ground that is now going to be open for mining concession applications. Over 44 K hectares of reduced land (from eleven concessions), 131 K hectares of abandoned concessions (95) and almost 20 K hectares of cancelled concessions (96) are to be available in one month for staking by individuals and corporations.
- Azure Minerals Ltd. is about to start drilling at its Oposura and Sara Alicia projects in Sonora. The environmental permit has been granted for both projects. At Oposura a total of 7,000 m of drilling is planned in 120 holes on a 1,400 by 400 m area. At Sara Alicia geological mapping, rock chip channel sampling, gridded soil sampling, and initial target identification has been completed. A zone of high grade gold and cobalt with samples of up to 39 g/t Au and up to 6% Co has been identified and is to be drill tested with 5-6 holes for a total of 450-500 m of diamond core.
- Canuc Resources Corp. reported high grade silver and gold from recent sampling of underground workings, and from the surface of the Carranza breccia zone at its San Javier project in Sonora. “Road construction, trenching and drill platform preparation have been completed and surface mapping and sampling are ongoing.” The focus is on the breccia zones found at the intersections of the two fault trends. Results include 0.5 m @ 10.3 g/t Au, 250 g/t Ag; 0.5 m @ 8.0 g/t Au, 246 g/t Ag; 1.23 m @ 6.0 g/t Au, 174 g/t Ag; 1.2 m @ 10.5 g/t Au, 220 g/t Ag; 1.6 m @ 9.5 g/t Au, 150 g/t Ag; 1.6 m @ 11.3 g/t Au, 100 g/t Ag; 0.9 m @ 5.1 g/t Au, 17,200 g/t Ag; 1.3 m @ 1.9 g/t Au, 6,230 g/t Ag; 1.4 m @ 2.0 g/t Au, 2,395 g/t Ag; 0.7 m @ 1.6 g/t Au, 150 g/t Ag; 2.5 m @ 1.1 g/t Au, 600 g/t Ag; 3.0 m @ 1.2 g/t Au, 470 g/t Ag.
- Chesapeake Gold Corp. commenced a 5,000 m diamond drill program at its 68,000 has Yareli project in Sinaloa. The phase I program is to focus on the Central and Loretos prospects. “At Central prospect Initial drill holes will test the four subparallel north – northwest trending stockwork structures up to one kilometre in length and associated extensive breccia bodies..” At Loretos three widely spaced holes are planned to test the west side of a “V” shaped IP anomaly which is over 3 km long and one km wide.
- Colibri Resource Corp. released a report on its 506 hectare Evelyn project in Sonora. Geological and structural mapping, as well as rock chip sampling were conducted. The property is underlain by Jurassic rhyolites, andesites and sandstones. Prospects highlighted include the Mine Working shear zone, the Cerro Rojo Fault and the Quartz Vein Swarm. Of 74 samples collected, 33 returned values greater than 0.1 g/t Au.
- Discovery Metals Corp. received drill permits for five of its projects from the Mexican environmental regulator, SEMARNAT. These permits cover the La Kika, Renata, Santa Rosa, La Minerva, and Jemi-Rare projects in northern Coahuila.
- Silver Bull Resources Inc. provided the results from two drill holes of its underground drill program targeting high-grade structures at its Sierra Mojada project in Coahuila. The first hole intersected 7 m @ 121 g/t Ag, 0.52% Cu, including 2 m @ 376 g/t Ag, 3.0% Cu. The second hole intersected 25.5 m @ 294 g/t Ag, 0.96% Cu, including 11.5 m @ 486 g/t Ag, 1.13% Cu and 4 m @ 966 g/t Ag, 2.0% Cu, with the hole entering and ending in an unmapped working. The results confirm the East-West continuity of the first of three structures to be drilled.
- Silver Viper Minerals Corp. is performing a 2,000 m drilling program at its Clemente project in Sonora. The diamond drilling is designed to target the down dip projection of the steep dipping quartz shear vein and adjacent quartz veining observed in accessible historical mine workings.
- Endeavour Silver Corp. reported production results for the third quarter 2017. At Guanaceví in Durango, 74.6 K tonnes were produced at a rate of 811 tonnes per day (tpd) @ 250 g/t Ag, 0.57 g/t Au and recoveries of 87.2% Ag, 89.5% Au, to produce. 522.9 K Oz Ag, 1,224 Oz Au. At Bolañitos, in Guanajuato, 114.5 K tonnes were produced at a rate of 1,245 tpd @ 85 g/t Ag, 2.15 g/t Au and recoveries of 81.1% Ag, 82.4% Au, to produce 253.8 K Oz Ag, 6,523 Oz Au. At El Cubo in Guanajuato, 133.6 K tonnes were produced at a rate of 1,452 tpd @ 135 g/t Ag, 1.35 g/t Au and recoveries of 83.7% Ag, 83.3% Au, to produce 485.4 K Oz Ag, 5,901 Oz Au. In July the production decision was made on El Compas project in Zacatecas. In August were received the permits for the mine and plant at Terroneras, Jalisco. Pending are the permits for the waste dumps and tailings areas.
- Torex Gold Resources Inc. signed a long term, common land lease agreement with the Puente Sur Balsas Ejido for the use of the land required for the exploration, construction and mining of minerals at its Media Luna project in Guerrero. The 25 year agreement can be revoked at the company’s discretion, with one year’s notice.
- Telson Resources Inc. received the environmental permit (MIA) authorizing the construction of a mineral processing facility, related mining facilities, plus infrastructure and necessary underground development at its Tahuehueto project in Durango.
- Capstone Mining Corp. announced production results for the quarter terminating at the end of September 2017. At Cozamin higher throughput than planned saw 223.8 K tonnes mined from underground and 223.4 K tonnes processed at a rate of 2,429 tpd, averaging 1.98% Cu, 0.8% Zn, 0.08% Pb, 42 g/t Ag; recoveries stood at 96.1% Cu, 65.7% Zn, 7.0% Pb, 79.7% Ag, to produce 15,688 tonnes of Cu concentrate, 2,463 tonnes of Zn concentrate and 20 tonnes of lead concentrate.
- Leagold Mining Corp. disclosed Q3 2017 gold production at the Los Filos mine in Guerrero. During the period the Los Filos mine produced 47,766 Oz Au.
- Great Panther Silver Ltd. released production results for the third quarter 2017. At the Guanajuato Mine Complex in Guanajuato, 76.1 K tonnes were milled @ 155 g/t Ag, 2.54 g/t Au; with recoveries of 89.8% Ag, 88.1% Au, to produce 341.6 K Oz Ag, 5,471 Oz Au. At Topia in Durango, 18 K tonnes were milled @ 362 g/t Ag, 0.97 g/t Au; with recoveries of 91.1% Ag, 67.1% Au, to produce 191.2 K Oz Ag, 377 Oz Au.
- Alamos Gold Inc. reported production for the third quarter 2017, including figures from its Mexican operations. At Mulatos (including La Yaqui) 36,300 Oz Au were produced, and 14,900 Oz Au at El Chanate, both in Sonora.
- GoGold Resources Inc. announced production for the quarter terminated at the end of September 2017. At its Parral tailings operation 353.4 K Oz Ag were produced. An improvement on the recoveries by changing agglomeration and heap parameters can be seen in the graphic below.
- Hecla Mining Co. reported preliminary production results for the third quarter 2017, including figures from its Mexican operations. At San Sebastian in Durango, the mill operated at 397 tpd to produce 880.9 K Oz Ag, 8,199 Oz Au.
- Colibri Resources Corp. has issued shares in the amount of $10,000 to settle an outstanding indebtedness due to Ed Stringer, a director of the company (Evelyn, Sonora).
- Sierra Metals Inc. entered into an open market Sale Agreement with Jefferies LLC, C. Wainwright & Co, LLC Scotia Capital (USA) Inc. and Noble Capital Markets Inc., on which the company may during the term of the agreement sell common shares in the NYSE up to the amount US$55 M in gross proceeds. No common shares will be offered or sold in Canada (Cusi and Bolivar mines, both in Chihuahua).
- Fortuna Silver Mines Inc. announced that Jorge A. Ganoza, CEO of the company increased his equity position in Fortuna by acquiring 131,800 common shares on the open market, valued at close to US$430 K. (San Jose, Oaxaca).
- Oroco Resource Corp. intends to complete a non-brokered private placement to raise up to $600 K of gross proceeds (Xochilapa, Guerrero).
ON RESOURCES AND DEVELOPMENT
- Fortuna Silver Mines Inc. updated exploration efforts at its San José mine in Oaxaca, where four rigs are testing the Trinidad-Bonanza-Stockwork complex, the Trinidad North Extension and the sub-parallel Victoria vein (formerly Ocotlan vein). Relevant estimated true width intercepts (TW) comprise 4.1 m @ 247 g/t Ag, 1.8 g/t Au; 21.0 m @ 153 g/t Ag, 0.9 g/t Au; 3.6 m @ 281 g/t Ag, 1.2 g/t Au; 4.5 m @ 356 g/t Ag, 3.5 g/t Au; 3.7 m @ 1,106 g/t Ag, 6.3 g/t Au in the Victoria vein, and 6.7 m @ 218 g/t Ag, 1.3 g/t Au; 2.2 m @ 195 g/t Ag, 1.1 g/t Au; 2.2 m @ 195 g/t Ag, 1.1 g/t Au at the Trinidad/Bonanza veins and Stockwork.
ON DEALS AND CORPORATE ISSUES
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, secondary copper minerals around a quartz veinlet with oxidized sulfides, which is cutting an intrusive rock on a prospect of the Durango Altiplano. Photo by Jorge Cirett.
• Maiden drilling program starts with 5 holes planned for 450m
• High priority drill targets include old mine workings and outcrop containing
high grade gold and cobalt mineralisation
Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to advise that diamond drilling of the first hole of a five-hole program has started on its 100%-owned Sara Alicia goldcobalt project, located in the northern Mexican state of Sonora (see Figure 1).
High grade gold and cobalt mineralisation was historically exploited by small-scale underground mining in the 1930s. Azure’s first-pass sampling of surface and underground exposures confirmed the presence of this mineralised zone, returning high grades of gold and cobalt up to maximum values of 39g/t gold and 7% cobalt (see Photo 1 and refer ASX announcement of 23 August).
A reconnaissance drill program has been designed to test this zone with an initial five holes totalling approximately 450m of diamond core planned (see Figure 2 for hole locations). A followup drill program may be undertaken, depending upon initial results.
All approvals granted for diamond drilling at Oposura and Sara Alicia
• Drilling expected to start on both projects within a week
• Two drill rigs at Oposura will enable resource estimation in early 2018
• Sara Alicia drilling to test high-grade gold-cobalt mineralisation
Azure Minerals Limited (ASX: AZS) (Azure or the Company) is pleased to advise that it is about to start drilling campaigns on both its new flagship Oposura zinc-lead-silver and the highlyprospective Sara Alicia gold-cobalt projects in the northern Mexican state of Sonora. The projects, both recently added to Azure’s Mexican portfolio, have received all required approvals from the environmental authorities and drilling is expected to start within a week.
During the 34th week of the year (August 20th to August 26th, 2017), at least 20 press releases were announced by companies working in Mexico, including two quarterly reports. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Azure is soon to release drilling results from the Oposura project, while Colibri is planning to drill the Pilar property near Suaqui. In Hidalgo Prospero intends to drill the El Petate property. In Zacatecas Arian Silver completed the drilling of three lithium salars. ON MINING, Impact Silver and Santacruz Silver reported second quarter production results for 2017. ON FINANCING, no relevant news for the first time in the year. ON RESOURCES AND DEVELOPMENT, Monarca is trying to secure surface rights at its Tejamen property in Durango. Mexican Gold is to realize a geophysical survey at Las Minas in Veracruz. Telson Resources has received permits for tailings facilities in Durango. Silver Bull identified a new zone of sulfide mineralization at Sierra Mojada, Coahuila. Almaden released drilling results from inside the planned pit at Tuligtic, Puebla. Consolidated Zinc released high-grade drilling intercepts at Plomosas, Chihuahua. Bacanora Minerals provided an update on the FS of the Sonora Lithium project. Americas Silver released drilling results from the Cosalá mine complex in Sinaloa. ON DEALS AND CORPORATE ISSUES, Sonora Metals started trading on the OTCQB Venture Market. Azure Minerals acquired the gold-cobalt Sara Alicia property in Sonora.
ON MEXICO ISSUES
- Azure Minerals Ltd. is advancing on the planning and approval process of an upcoming drilling campaign at its newly-acquired Oposura Zn-Pb-Ag project in Sonora. The previous owner drilled 994 m in 16 diamond drill holes, assay results for which are expected shortly. “Significant sulphide mineralisation, including massive, banded and disseminated, was observed in most holes.”
- Azure Minerals Ltd. acquired the Sara Alicia property in Sonora (see note below). The 9 hectares concession covers all the historical mine workings and observed Au-Co and Cu-Zn-Ag manto mineralization exposures related to the intrusion of a granodiorite porphyry into a thick limestone sequence. Sampling on the Au-Co zone returned 2.5 m @ 39.0 g/t Au, 6.1% Co; 2.5 m @ 12.5 g/t Au, 6.9% Co; 3.0 m @ 5.7 g/t Au, 2.4% Co; 2.1 g/t Au, 3.2% Co; while sampling at the Cu-Zn-Ag zone returned 2.4 m @ 2.2% Cu, 2.4% Zn, 84 g/t Ag; 1.0 m @ 3.4% Cu, 3.1% Zn, 124 g/t Ag; 3.5 m @ 2.1% Cu, 4.2% Zn, 54 g/t Ag; 2.5 m @ 5.2% Cu, 2.5% Zn, 170 g/t Ag; 1.5 m @ 2.1%Cu, 3.2% Zn, 133 g/t Ag.
- Prospero Silver Corp. intends to begin drilling in September at the El Petate project in Hidalgo, funded by strategic partner Fortuna Silver Mines Inc. High level epithermal alteration is exposed over a 5×4 km area, showing a robust mineralized system with additional potential to host a carbonate replacement deposit at depth. Surface sampling returned a continuous channel sample of 67.5 m @ 0.93 g/t Au. A total of 2,800 m on 29 holes has been proposed to Fortuna.
- Colibri Resources Corp. is planning three tranches of RC drilling (10,000 m) at its recently acquired Pilar gold project in Sonora. The surface rights agreement has been signed on friendly terms.
- Arian Silver Corp. completed the first phase of auger drilling on its three lithium projects in Zacatecas. The drilling of 28 holes resulted in 214 samples that have been sent for assay at ALS Global. The results are expected in about three or four weeks.
- Impact Silver Corp. released its financial and production results for the second quarter of 2017. Most of the production was from the San Ramon Deeps, Cuchara, Mirasol and San Patricio mines at its Zacualpan property in Mexico State. The average silver feed to the mill was 173 g/t Ag, to produce 227.5 K ounces of silver. Exploration work is focused on larger and higher-grade targets at Alacran and Alacran North. The cash position at the end of the period was $6.8 M, with net working capital of $8.6 M.
- Santacruz Silver Mining Ltd. reported second quarter 2017 production results. At the Rosario project in San Luis Potosi 28 k tonnes were milled @ 42 g/t Ag (172 g/t AgEq), recovering 87% Ag, to produce 33.2 K Oz Ag, 298 Oz Au, 40 tonnes Pb, 408 tonnes Zn (124.7 K Oz AgEq). At Veta Grande in Zacatecas 29.7 k tonnes were milled @ 102 g/t Ag (218 g/t AgEq), recovering 64% Ag, to produce 56.1 K Oz Ag, 174 Oz Au, 198 tonnes Pb, 317 tonnes Zn (145.9 K Oz AgEq). At Rosario the focus has been on increasing the input from the Membrillo vein and the Cinco Estrellas property. At Veta Grande the focus is in through-put maximization and grade control.
ON RESOURCES AND DEVELOPMENT
- Monarca Minerals Inc. is trying to secure the surface rights at Tejamen, Durango. To date Monarca has met with senior government officials at the Federal, State and Municipal level, earning full support for the project, and contact with the leaders of the community has been initiated aiming to become a responsible Community partner. A new deeper drilling program is being planned to follow high grade feeder veins and test the base of the volcanic rocks over sedimentary rocks where manto and carbonate replacement mineralization might occur; initial work is to involve re-logging all drilling samples of the previous campaigns.
- Mexican Gold Corp. has commenced field work preparation for ground magnetic and time domain electromagnetic surveys at its Las Minas project in Veracruz. The surveys aim to identify targets for the upcoming 3,000 m diamond drill program by contractor K.D.L. Mexico S.A. de C.V. at the Cinco Señores, Las Minillas and El Dorado/Juan Bran zones.
- Telson Resources Inc. has received permits from Semarnat for reactivation of the existing tailings disposal facility and for the construction of a new larger tailings facility for the Tahuehueto project in Durango. The permitted capacity of over 13 M cubic meters can accommodate more than 30 years of production at the planned 1,000 tonnes per day mining rate.
- Silver Bull Resources Inc. identified a new massive sulfide zone at its Sierra Mojada project in Coahuila. This zone lies within a 1.4 km long chargeability anomaly within which other two zones of sulfide mineralization that present high grade Zn-Pb-Cu. Approximately 280 m of previously non-accessible workings were opened and 19 samples collected with results like: 2.34 m @ 1,315 g/t Ag, 9.0% Cu; 2.32 m @ 392 g/t Ag, 0.4% Zn, 1.8% Cu; 1.4 m @ 329 g/t Ag, 42% Zn, 3.2% Cu; 1.52 m @ 713 g/t Ag, 3.4% Zn, 0.1% Pb, 1.1% Cu; 1.13 m @ 1,130 g/t Ag, 22.2% Zn, 3.3% Pb, 12.9% Cu; 2.00 m @ 495 g/t Ag, 7.1% Zn, 2.7% Pb, 1.1% Cu; 2.00 m @ 33 g/t Ag, 8.1% Zn, 3.4% Pb, 0.1% Cu; 2.0 m @ 42 g/t Ag, 1.5% Zn, 2.4% Pb, 0.2% Cu; 2.0 m @ 73 g/t Ag, 19.2% Zn, 4.8% Pb, 0.3% Cu: 2.0 m @ 491 g/t Ag, 24.7% Zn, 0.4% Pb, 1.6% Cu; 2.0 m @ 277 g/t Ag, 19.6% Zn, 18.3% Pb, 0.7% Cu.
- Almaden Minerals Ltd. released high-grade drilling results from a previously undrilled area inside the planned pit at its Tuligtic project in Puebla. The hole reported intersected 74.5 m @ 0.66 g/t Au, 45 g/t Ag; 64.30 m @ 0.79 g/t Au, 74 g/t Ag; 46.85 m @ 0.49 g/t Au, 68 g/t Ag.
- Consolidated Zinc Ltd. reported new high-grade results from underground sampling from the Las Espadas West stope area. Significant assays include 1.0 m @ 22.2% Zn, 3.5% Pb, 20 g/t Ag; 1.5 m @ 28.8% Zn, 13.2% Pb, 41 g/t Ag; 1.2 m @ 36.3% Zn, 12.8% Pb, 50 g/t Ag; 1.5 m @ 37.9% Zn, 12.3% Pb, 36 g/t Ag; 1.0 m @ 33.2% Zn, 6.9% Pb, 32 g/t Ag; 1.0 m @ 20.4% Zn, 10.8% Pb, 25 g/t Ag. Mineralization is coarse grained massive sulfides, comprising low iron sphalerite and galena at a ratio of around 2 to 3:1.
- Bacanora Minerals Ltd. provided an update on the feasibility study (FS) for a 35,000 tonnes per year lithium carbonate operation that is to be completed in late 2017. A sodium sulfate (Na2SO4) roast has been developed over the more expensive gypsum (Ca2SO4) roast previously contemplated. “Ausenco Engineers is currently undertaking ﬁnal plant layout, capital equipment tenders and ﬂow sheet optimization work.” Mechanical and metallurgical optimization of the Hermosillo plant is underway, while the mine plan optimization continues. On the energy supply side five independent proposals have been received, including gas and electrical sources. Long term debt funding is being sought for the construction phase, which should take 18 months.
- Americas Silver Corp. released results from drilling at the Zone 120 deposit, adjacent to the San Rafael development project, part of the Cosalá property in Sinaloa. Highlighted true width (TW) recent intercepts include 61.4 m @ 306 g/t Ag, 0.23 g/t Au, 0.8% Cu (including 9.4 m @ 932 g/t Ag, 0.82 g/t Au, 1.9% Cu and 9.4 m @ 479 g/t Ag, 0.29 g/t Au, 1.1% Cu); 39.6 m @ 205 g/t Ag, 0.28 g/t Au, 0.5% Cu; 22.8 m @ 138 g/t Ag, 0.22 g/t Au, 0.37% Cu; 18.1 m @ 113 g/t Ag, 0.08 g/t Au, 0.2% Cu.
ON DEALS AND CORPORATE ISSUES
- Sonora Metals Corp. has started trading on the OTCQB Venture Market. The company owns the over 1,000 ha San Marcial property in Sonora, which contains the old Soledad and San Marcial mines.
- Azure Minerals Ltd. has acquired the Sara-Alicia gold-cobalt project in southern Sonora. The property saw limited underground mining of gold and cobalt in the 1930’s. To get hold of the property the company successfully obtained the revocation of the recently cancelled mining concession, and a further payment of US$125,000 will be made to the family once commercial production is achieved, no NSR to be paid. The company is to wait for the liberation of a recently expired surrounding 22,000 has tenement to apply for further terrain.
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, artisanal rock mill, or “tauna”, in the Sierra Madre of Chihuahua. Photo by Jorge Cirett.
Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to announce that it has further broadened and strengthened its Mexican exploration portfolio with the purchase of the Sara Alicia goldcobalt project, located in the northern state of Sonora.
Azure Managing Director Mr Tony Rovira also commented, “During Azure’s recent search for an advanced stage precious metal / base metal project, which culminated in the recently announced acquisition of the Oposura Project, the Company identified many early stage properties with good potential. One of the absolute stand-outs was the Sara Alicia gold-cobalt project.
“Cobalt deposits are virtually unknown in Mexico, which makes the identification by our exploration team of a property containing high-grade gold and cobalt mineralisation very commendable. This was an opportunity too good to pass up and its acquisition has added an extra dimension to our Company’s project portfolio.
“Spectacular grades returned from our first sampling program indicate that this under-explored property holds potential for the definition of a body of high grade gold-cobalt mineralisation, as well as for copperzinc-silver mineralisation. We look forward to drilling Sara Alicia this year, along with progressing our flagship project Oposura.”
During the 2nd week of the year (9th to 15th January, 2017) at least 31 press releases were announced by companies working in Mexico, including ten preliminary production reports for 2016. ON EXPLORATION, nine companies presented exploration updates, reflecting fairly strong activity in this new year. A company completed soil surveys in a project in Sinaloa, and another in Sonora. Also in Sonora, a project generator presented 2016 results and presented plans for the year, while a mining company released high grade gold drilling results on its brownfield and mine site exploration. In Zacatecas, results from surface exploration were received in one project, while another property received the needed drilling permit. On Nayarit, three more holes have been completed in a property. Anomalous but still interesting drilling results were received for a project in Guerrero. In Chihuahua, results from underground channel sampling in a silver project were released, whereas in Oaxaca, a polymetallic vein system continues to expand, showing high grade drill intercepts on a 200 m step out. ON MINING, Torex Gold, US Antimony, Endeavour Silver, HECLA Mining, Great Panther, Fortuna Silver, Timmins Gold, Capstone, Premier Gold, Pan American Silver, and Gold Resource presented 2016 production figures. A company presented the 2016 production figures, and plans for the coming years in a copper mine in Baja California Sur. ON FINANCING, Two companies reported financing exercises for a total of $16.4 M in gross proceeds. ON RESOURCES, one company filed NI-43-101 reports for two projects in Sonora and Nayarit. ON DEALS AND CORPORATE ISSUES, an agreement on the sale of one of the major gold operations in Mexico has been completed. An agreement on the option of a past producing mine in Guanajuato was achieved between a junior Canadian company and a local Mexican enterprise. A company with projects in Sonora remains in operations suspension on the TSX.
- Silver One Resources Inc. has completed soil geochemical surveys over its La Frazada property in Sinaloa and at Peñasco Quemado in Sonora. Results are pending.
- Arian Silver Corp. released high grade results from its surface sampling program at its San Celso property in Zacatecas. Results include 1.05 m @ 396 g/t Ag, 1.8 m @ 146 g/t Ag, 1.1 m @ 116 g/t Ag, 2.2 m @ 286 g/t Ag, 0.5 m @ 350 g/t Ag, 0.45 m @ 347 g/t Ag and 1.15 m @ 254 g/t Ag.
- Gainey Capital Corp. announced that two of three holes to be drilled on the La Higuerita mineralized zone at its El Colomo property in Nayarit have been completed and samples shipped for assay. Four more holes are to be drilled between the Higuerita and Nueva Victoria zones, which are 250 m apart.
- Defiance Silver Corp. has received the necessary permits for drilling up to 60,000 m on its San Acacio property in Zacatecas. The permit is valid for 4.5 years. Defiance will now finalize its program for the 1.2 km of vein strike length that hosts the San Acacio deposit, and eventually explore the 4.4 km of the vein that has yet to see modern exploration.
- Minaurum Gold Inc. released results from its 4,200 m program in its Biricu property in the Guerrero Gold Belt. Four of the nine holes intercepted anomalous gold values, including 17 m @ 230 ppb Au and 117.8 m @ 191 ppb Au. Surface mapping and drilling indicates the favorable contact between the Mezcala and Morelos Formations is shallower further north in the Punto Rojo area.
- Premier Gold Mines Ltd. released 2016 exploration results from several areas at its Mercedes mine in Sonora, where 27,442 m of drilling were completed in 135 core holes during the period. At the Mercedes/Barrancas/Lagunas area drill intercepts include 8.2 m @ 11.9 g/t Au, 81 g/t Ag; 0.9 m @ 7.3 g/t Au, 260 g/t Ag. At Diluvio drill intercepts include 12.5 m @ 16.0 g/t Au, 13 g/t Ag; 4.5 m @ 29.2 g/t Au, 49 g/t Ag; 21.0 m @ 3.2 g/t Au, 21 g/t Ag; 4.5 m @ 9.5 g/t Au, 20 g/t Ag; 25 m @ 3.1 g/t Au, 7 g/t Ag; 26 m @ 3.0 g/t Au, 9 g/t Ag; 13.5 m @ 17.2 g/t Au, 33 g/t Ag; 61.6 m @ 3.7 g/t Au, 11 g/t Ag. “Mineralization at Diluvio is distinct from other Mercedes deposits in that it consists of two or more gently-dipping “Manto” type ore bodies that could be amenable to bulk underground mining or higher grade narrow vein mining.” At Rey de Oro target (open pit and underground target) intercepts include 13.7 m @ 3.7 g/t Au, 21 g/t Ag; 10 m @ 1.9 g/t Au, 36 g/t Ag; 17.6 m @ 1.4 g/t Au, 49 g/t Ag; 21.7 m @ 3.7 g/t Au, 23 g/t Ag; 13.9 m @ 9.9 g/t Au, 122 g/t Ag; 4.6 m @ 68.4 g/t Au, 72 g/t Ag.
- Kootenay Silver Inc. released results from underground adit channel sampling at its La Cigarra property in Chihuahua. 17.5 m @ 130 g/t Ag, 0.13 g/t Au (includes 2.0 m @ 536 g/t Ag, 1.0 m @ 569 g/t Ag); 5.5 m @ 173 g/t Ag, 0.15 g/t Au; 12.0 m @ 49 g/t Ag, 0.11 g/t Au; 6.0 m @ 28 g/t Ag, 0.18 g/t Au. These results will aid in the definition of new targets on the deposit.
- Gold Resource Corp. announced a significant expansion of its Switchback vein system, with a greater than 200 m step-out drill interception at the Aguila’s project Arista mine. At least 6 vein were cut, with intercepts like: 4.05 m @ 1.25 g/t Au, 117 g/t Ag, 1.0% Cu, 2.1% Pb; 12.9% Zn; 1.10 m @ 2.36 g/t Au, 566 g/t Ag, 0.55% Cu, 0.7% Pb, 1.2% Zn; 3.28 m @ 0.87 g/t Au, 257 g/t Ag, 0.18% Cu, 0.3% Pb, 0.5% Zn. The discovery outcrop of the Switchback system is evident in a ridge approximately 300 m further on strike to the NW from this intercept.
- Millrock Resources Inc. presented 2016 results and plans for 2017. During 2016 signed an option agreement with Centerra Gold Inc. on Los Chinos and Los Cuarenta projects in Sonora, drilling at Los Chinos and completing surface exploration at Los Cuarenta. For 2017 Millrock and Centerra signed a 250 K alliance agreement for exploration in Sonora; drilling of the Los Cuarenta project is planned for the spring.
- Torex Gold Resources Inc. poured 279,937 Oz Au during its first year of operations at its El Limon-Guajes mine in Guerrero. The company plans to sell 350 – 380 K Oz Au during 2017, at cash cost $525 – $575 and AISC $775 – $825 per Au Oz sold. The exploration budget for 2017 is $10 M.
- US Antimony Corp. has started mining in its Mexican antimony and gold and silver properties, aiming to produce 50 K Lb Sb during January. During 2016 the company produced 277.8 K Lb of direct shipping ore @ 35.9% Sb at its Wadley mine in San Luis Potosi; at Soyatal, Queretaro, 155.3 K Lb of mill concentrate @ 24.6% Sb were produced, whereas at Los Juarez in Queretaro, the company is awaiting the permit on the cyanide leach plant. The flotation mill is to start the process of a 19 K ton stockpile of Los Juarez ore to test recovery rates.
- Endeavour Silver Corp. reported 2016 production of 5.4 M Oz Ag and 57,375 Oz Au, or 9.7 M Oz Ag/Eq. At Guanaceví in Durango, 367.4 K tonnes were processed (1,007 tonnes per day) at a grade of 232 g/t Ag, 0.51 g/t Au (recoveries of 86.3% Ag, 88.4% Au) to produce 2.36 M Oz Ag and 5,328 Oz Au. At Bolañitos in Jalisco 507.7 K tonnes were processed (1,391 tonnes per day) at a grade of 81 g/t Ag, 2.31 g/t Au (recoveries of 79.6% Ag, 81.5% Au) to produce 1 M Oz Ag and 30,720 Oz Au. At El Cubo 583.8 K tonnes were treated (1,599 tonnes per day) at a grade of 123 g/t Ag, 1.41 g/t Au (recoveries of 87.4% Ag, 80.6% Au) to produce 2 M Oz Ag, 21,327 Oz Au. Over 16.km of mine development were carried out on the three mining units, and more than 34,000 trees were planted, receiving the annual “Socially Responsible Company Award” on the three units.
- HECLA Mining Co. produced 17.2 M Oz Ag (48% increase) and 233,929 Oz Au (24% increase) during 2016 in its operations in several countries. At San Sebastian in Durango, 4.3 M Oz Ag and 34,042 Oz Au were produced.
- Great Panther Silver Ltd. produced 2 M Oz Ag and 22,238 Oz Au during 2016. At the Guanajuato Mine Complex 320.9 K tonnes were milled @ 163 g/t Ag, 2.43 g/t Au (recoveries of 87.9% Ag, 86.4% Au) to produce 1.47 M Oz Ag and 21,626 Oz Au. At the Topia mine in Durango 55.8 K tonnes were milled @ 354 g/t Ag, 0.56 g/t Au (recoveries of 90.4% Ag, 60.6% Au) to produce 574 K Oz Ag, 612 Oz Au, 1,034 tonnes Pb and 1,496 tonnes Zn.
- Fortuna Silver Mines Inc. reported 2016 production, which includes numbers from its San Jose mine in Oaxaca, where 905.4 K tonnes were milled (2,596 tonnes per day) at a grade of 228 g/t Ag, 1.72 g/t Au (recoveries of 92.3% Ag, 92.1% Au) to produce 6.1 M Oz Ag and 46,018 Oz Au. That production was reached at AISC $8.4 per silver ounce. Major capital investments for 2017 include $6.5 M for mine development, $2.2 M for equipment and infrastructure, $6.5 M tailings on a filtration plant expansion and $7 M for brownfield exploration (31,00 m of drilling, 600 m of underground development for drilling).
- Capstone Mining Corp. announced production results for 2016, which include figures on its Cozamin mine in Zacatecas, where 1 M tonnes of ore were milled (2,736 tonnes per day) at a grade of 1.51% Cu, 0.66% Zn, 0.07% Pb, 43 g/t Ag (recoveries of 94.8% Cu, 63% Zn, 18.7% Pb, 72.4% Ag) to produce 53,744 tonnes of copper concentrate (26.6% Cu, 566 g/t Ag), 8,866 tonnes of zinc concentrate (47.3% Zn) and 222 tonnes of Pb concentrate (58.4% Pb, 3,155 g/t Ag). During the period 13,956 tonnes of payable copper were shipped.
- Timmins Gold Corp. reported production results for 2016. At San Francisco, in Sonora, during the period 7.65 M tonnes of ore grading 0.58 g/t Au were processed, 3.96 M tonnes of low grade ore @ 0.24 g/t Au were stockpiled and 14.9 tonnes of waste moved (2.00 strip ratio) to accomplish the production of 100,322 Oz Au and 56,325 Oz Ag. Ore was processed at an average daily rate of 20,909 tonnes per day. Guidance for 2017 is between 70 K and 75 K Oz Au at cash costs of US$900 to US$950 per gold ounce. Mining operations at San Francisco are expected to continue to 2023 producing 450 K to 500 K Oz Au. At Ana Paula, in Guerrero, the feasibility study test work is advancing, with the 20,000 m drilling nearing completion. The feasibility study should be complete by mid-2017, and construction permits received before the end of the year.
- Premier Gold Mines Ltd. produced 22,760 Oz Au in 2016 on its Mercedes mine in Sonora. Forecast for 2017 is the production of 85 K – 90 K Oz Au, at cash cost $680 – $710 per Au Oz and AISC $810 – $840 per Au Oz. Mercedes exploration budget for 2017 is $4.7 M, including some 20,000 m of drilling; The planned expansion and mine development is budgeted at $7.9 M.
- Pan American Silver Corp. reported its operational results for 2016. The company produced 5.8 M Oz Ag, 2,930 Oz Au at La Colorada, Zacatecas, at cash cost $6.15; at Dolores, Chihuahua, produced 3.84 M Oz Ag, 102,760 Oz Au, at cash cost -$1.08 and 1.86 M Oz Ag, 8,380 Oz Au at Alamo Dorado, Sonora, at cash cost $16.02. The La Colorada mine is expected to mine 1,500 tonnes per day in 2017, to produce 6.4 to 6.9 M Oz Ag; the new underground mine at Dolores is to extract 1,500 tonnes per day by the end of 2017, with total production of 4.0 to 4.5 M Oz Ag and 109,100 to 115,000 Oz Au, whereas the Alamo Dorado mine in Sonora will cease processing stockpiled inventory during the first quarter 2017, and enter the reclamation phase. The company is to spend $21 M on near-site and regional exploration in the countries it operates, with a 110,000 meters drill program. The company plans regional exploration in Mexico and Peru.
- Gold Resource Corp. announced preliminary 2016 production. The company produced at its El Aguila mine in Oaxaca 27,629 Oz Au, 1.86 M Oz Ag, 1,035 tonnes of copper, 4,049 tonnes of lead and 14,302 tonnes of zinc during the period.
- Camrova Resources Inc. informed that the Boleo mine in Baja California Sur produced 14,284 tonnes of copper cathode, double from 2015, but short of the targeted 22,574 tonnes for 2016, due to a variety of factors (union action, a hurricane, lower grade feed etc.). Production for 2017 is aimed to double that of 2016. The mine plans to produce 2.0 M tonnes of ore from surface and 0.7 M tonnes from underground operations, to average 1.24% Cu, with recoveries of 84% Cu. Surface operations strip ratio is expected to exceed 8:1, to mine 1.16% Cu open pit ore. The 2017 budget is still 130 M short of funding. The life of mine plan extends to 2031, with average mine production of 3.2 M tonnes of ore (1.9 M tonnes surface, 1.2 M tonnes underground), for a total of 45.9 M tonnes @ 1.3% Cu, 0.07% Co, 0.5% Zn.
- Mx Gold Corp. announced its intention to undertake a private placement to raise up to $2.6 M gross proceeds (Magistral del Oro, Chihuahua).
- Timmmins Gold Corp. issued 36,400,000 units additionally and pursuant to the company’s short form prospectus dated November 28, 2016, for total net proceeds amounting $13.8 M (San Francisco mine in Sonora, Ana Paula project in Guerrero).
- Silver One Resources Inc. filed two NI-43-101 technical reports on the La Frazada and Peñasco Quemado silver properties in Nayarit and Sonora respectively. Both properties had resource estimates by the previous owner, Silvermex Resources Ltd. At La Frazada there is a Measured and Indicated resource of 4.7 M Oz Ag, 42.4 M Lb Pb+Zn and an Inferred resource of 3.8 M Oz Ag, 41 M Lb Pb+Zn. At Peñasco Quemado there is a Measured and Indicated resource of 9.6 M Oz Ag.
ON DEALS AND CORPORATE ISSUES
- VanGold Resources Ltd. entered into an agreement with Exploraciones Mineras del Bajio, SA de CV to acquire a 100% interest on El Pingüico property in Guanajuato. Vangold will pay US$20 K on execution, US$30 K on receipt of TSX approval, issue 5 M common shares and make a final payment of US$50 K six months from TSX approval. A 4% NSR and 15% NPI is to be paid on stockpile minerals, and 3% NSR (1% can be purchased back for US$1 M) and 5% NPI on mined mineralization. The 71 has. Property includes the old Pinguico mine with a NON-43-101 compliant estimate of 320 K tonnes @ 1.16 g/t Au on an underground stockpile.
- Goldcorp Inc. entered into a share purchase agreement with Leagold Mining Corp. to sell its Los Filos mine in Guerrero. Goldcorp will receive $438 M, consisting of $279 M in cash, $71 M in Leagold common shares and certain tax receivables of $88 M. At the close of the transaction Goldcorp will own 30% of Leagold shares.
- Colibri Resource Corp. announced that its shares remain halted at the TSX, pending reception and review of documentation regarding the acquisition of Canadian Gold Resources.
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, makeshift tauna remains south of La Rumorosa, Baja California.
VANCOUVER, BC–(Marketwired – January 13, 2017) – Camrova Resources Inc. (formerly Baja Mining Corp.), (the “Company”) (TSX VENTURE: CAV) (OTCQB: BAJFF) is pleased to report that Tom Ogryzlo (Interim CEO) and Nigel Kirkwood (CFO), recently attended a meeting of the Board of Directors of Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. (“MMB”) at site where they were presented with an update on operations for 2016, the MMB Business Plan and Budget for 2017 and an updated LOM Plan containing projections through to 2031, when mining operations are forecast to terminate.
Camrova management also went underground to observe the recent progress that has been made through application of the newly introduced mining methods. The Company is now able to provide an update on developments relating to the mining activities and process plant.
VANCOUVER, British Columbia, Jan. 06, 2017 (GLOBE NEWSWIRE) — MX Gold Corp. (TSX-V:MXL) (FSE:ODV) (OTCQX:MXLGF) (the “Company” or “MX Gold”) is pleased to announce it intends to undertake a private placement financing of up to 20,800,000 units (each, a “Unit”) at a price of $0.125 per Unit for gross proceeds of up to $2,600,000. Each Unit will consist of one common share in the capital of the Company (each, a “Share”) and one non-transferable common share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to purchase one Share (each, a “Warrant Share”) at a price of $0.20 per Warrant Share for a period of three years from closing of the financing.
VANCOUVER, BC–(Marketwired – October 14, 2016) – Baja Mining Corp. (“Baja” or the “Company”) (TSX VENTURE: BAJ) (OTCQB: BAJFF) announced today that the previously announced consolidation (the “Consolidation”) of the Company’s issued and outstanding common shares on the basis of one (1) post-consolidation common share (each, a “Common Share”) for every twenty (20) pre-consolidation common shares and the change of the Company’s name from “Baja Mining Corp.” to “Camrova Resources Inc.” will be effective on October 17, 2016. The Common Shares will begin trading on a post-consolidated basis and under the new Company name on the TSX Venture Exchange (the “TSX-V”) under the trading symbol “CAV” at market open on Monday, October 17, 2016.