MX Gold Corp. Announces Private Placement

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.

Baja Mining Announces Effective Date of Share Consolidation and Name Change

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.

Baja Mining Announces Share Consolidation and Name Change

Vancouver, October 5, 2016 – Baja Mining Corp. (“Baja” or the “Company”) (TSX-V: BAJ – OTC: BAJFF) wishes to announce that further to the approval received from shareholders of the Company at the annual and special meeting (the “Meeting”) held on December 16, 2015, and as described in more detail in the management information circular of the Company dated November 4, 2015, based on market conditions and other factors the board of directors of the Company (the “Board”) has authorized a consolidation of the issued and outstanding common shares of the Company (the “Common Shares”) on the basis of one (1) post-consolidation Common Share for every twenty (20) pre-consolidation Common Shares (the “Consolidation”). In connection with the Consolidation, the Board has also decided to change the Company’s name from “Baja Mining Corp.” to “Camrova Resources Inc.”.

Sediment–Hosted Copper Deposits

Sediment-Hosted Copper deposits (SHCD) occur within sedimentary basins, generally at the contact between subaerial red-bed sequences and overlying marine or lacustrine shales, siltstones, sandstones, or carbonate rocks (Kirkham, 1989), consisting of relatively thin (generally <30 m and commonly < 3 m) sulfide-bearing zones from moderate-temperature (50°-150°C), moderate to high salinity (from 7 to + 30 eq. wt % NaCl), oxidized fluids (hematite-buffered) at oxidation-reduction interfaces (REDOX fronts). These deposits appear in a variety of sedimentary rocks with a variety of reductants. The configuration of the mineralized zone ranges from sheet like, with extensive horizontal dimensions, to tabular or roll-front geometries, with limited horizontal dimensions (Kirkham, 1989).

Approximate synonymous for SHCD are Diagenetic Sedimentary Copper, Red-Bed Copper, Stratiform Copper, Kupferschiefer type, Sandstone Copper, Shale-Hosted Copper, Reduced facies Copper, Sabkha Copper, and Revett Copper.

Sediment Hosted Copper Deposits are valuable because:

  • They are the second most important source of copper worldwide after Porphyry Copper deposits.
  • The world most importance source of cobalt (60%)
  • Important producer of by-product silver
  • SHCD contains consistent grades and lateral continuity along bedding (1.2 to 5% Cu), and
  • SHCD may contain large resources of by-product Au, U, platinum-group, and rare-earth elements.

Some of the most common features of the SHCD are:

  • They are stratabound.
  • Restricted to a narrow range of layers within a sedimentary sequence but do not necessarily follow sedimentary bedding.
  • Epigenetic and diagenetic, that is, they are formed after the host sediment is deposited, but in most cases, prior to lithification of the host.
  • They form independently of igneous processes.
  • Uniform lateral continuity of mineralization along bedding.
  • A major thickness of permeable, coarse-grained, red-bed clastic sediments in the immediate footwall of the cupriferous zone.
  • Temporal and spatial association of host rocks with strata formed in warm arid climates (evaporitic units, red-beds).
  • Deposition of Cu from aqueous, chloride-rich solutions upon crossing the redox front between footwall red beds and reduced, sulphide-bearing grey beds of the host strata
  • Associated with rift basins filled with continental red-beds+-bimodal volcanic strata.
  • Deposits are normally closely associated with evaporite sequences which provide an oxidizing environment, source for large sulfur volumes, and high salinity brines for metal transport.
  • Mineralization normally is associated with the presence of reduced, high-organic sedimentary units above and / or lateral to oxidized red-bed sequences. Oxidized units are hematite-bearing with the notable absence of iron sulphides. Oxidized units normally contain a high permeability prior to and often after mineralization.
  • Zoning, where recognized, is commonly from hematite-rich, sulfide barren zones to chalcocite-bornite-chalcopyrite-pyrite zones. It is interpreted as the basin-ward precipitation of ore fluids.

 Genetic implications for SHCD are:

  • There must be an oxidized source rock.
  • There must be a brine source to mobilize copper.
  • There must be a source of reduced fluid to precipitate copper and form a deposit.
  • There have to be conditions favourable for fluid mixing.

Although there are multiple occurrences of SHCD worldwide, the supergiant deposits are present in only three basins: the Paleoproterozoic Kodaro-Udokan basin of Siberia, the Neoproterozoic Katangan basin (Central African Copperbelt), and the Permian Zechstein basin of northern Europe (Hitzman et al, 2010).

In the picture below is one of the multiple outcrops of chrysocolla-rich sandstone at Cuatro Ciénegas, Coahuila, Mexico. These Cu-Ag bearing mantos sit above red-beds units. (Photo extracted from the Brigadier Gold Limited´s website).

chrysocolla-rich sandstones in cuatrocienegas_coah


  • Hitzman, M.W., Selley, D., and Bull, S., 2010, Formation of Sedimentary Rock-Hosted Stratiform Copper Deposits Through Earth History: Economic Geology, v.105, pp 627-639.
  • Kirkham, R. V., 1989, Distribution, settings, and genesis of sediment-hosted stratiform copper deposits: Geological Association of Canada Special Paper36, p 3–38.

Baja Corporate Update — Boleo Project, Cinto Colorado, MMB Shareholders Agreement and Board Retirement

VANCOUVER, BC–(Marketwired – July 11, 2016) – – Baja Mining Corp. (“Baja” or the “Company”) (TSX VENTURE: BAJ) (OTCQB:BAJFF) reports that Tom Ogryzlo – Interim CEO and Director, and Nigel Kirkwood – CFO, visited the Boleo Mine on June 17, 2016, to attend a board meeting of Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. (“MMB”) and tour the Boleo process plant, underground and open pit mining.

At the MMB board meeting, MMB management provided an update on recent activities at Boleo and for the year to date through May 2016.

Baja Corporate Update — Boleo Ramp-up and 2016 MMB Budget

VANCOUVER, BC–(Marketwired – February 29, 2016) – Baja Mining Corp. (“Baja” or the “Company”) (TSX VENTURE: BAJ) (OTCQB: BAJFF) is pleased to report that Tom Ogryzlo — Interim CEO and Director, and Wolf Seidler — Director, visited the Boleo Mine on February 19, 2016, and met with operations management of Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. (“MMB”) to discuss progress at Boleo, including both the underground and open pit mining and the process plant production ramp-up.

Baja Class Action Settlement Approved and Suit Dismissed

Vancouver, February 22, 2016 – Baja Mining Corp. (“Baja” or the “Company”) (TSX-V: BAJ – OTC: BAJFF) is pleased to report that the previously disclosed settlement of the Donohue class action has been approved by the Ontario Superior Court of Justice and, as part of the settlement, the action has been dismissed.  In news releases dated October 6, 2015 and November 9, 2015, Baja announced the execution of a settlement agreement (the “Settlement”) between the parties to the Donohue class action litigation (the “Action”) providing among other things that the Action would be dismissed, no liability would be admitted, and the Settlement Amount would be $11,000,000, inclusive of administration and legal costs of the class, and of any other costs or expenses related to the Action or the Settlement.  The Settlement Amount will be covered by Baja’s insurers.

Baja Corporate Update

Vancouver, January 7, 2016 – Baja Mining Corp. (“Baja” or the “Company”) (TSX-V: BAJ – OTC: BAJFF) is pleased to provide an update on the Cinto Colorado Tailings Project and to report on management’s latest visit to the Boleo Project on December 17, 2015.  Further to its news release dated July 2, 2015, the Company is pleased to report that initial metallurgical test work on samples taken from the Cinto Colorado leach/precipitation/flotation (LPF) tailings located in Santa Rosalia, adjacent to the Boleo mine site, have yielded positive results. The Company engaged Met-Solve Laboratories (“Met-Solve”) in Langley, BC to undertake and coordinate the testing, which was supervised by Dr. Dreisinger, with Dr. Thomas Glück, the former Director of Process Technology at Baja and a co-author of the 2010 Boleo Technical Report, as project manager.


Baja Corporate Update — Boleo Ramp-up and Revised MMB Shareholders’ Agreement

VANCOUVER, BC–(Marketwired – November 10, 2015) – Baja Mining Corp. (“Baja” or the “Company”) (TSX VENTURE: BAJ) (OTCQB: BAJFF) is pleased to report that its Executive Management (Tom Ogryzlo – Interim CEO, Nigel Kirkwood – CFO and David Dreisinger – VP Metallurgy ) visited the Boleo Project on October 30 and 31, 2015, and met with operations management of Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. (“MMB”) to discuss progress at Boleo, including the process plant production ramp-up and both the underground and open pit mining.