The Mining and Exploration News in Mexico: Highlights on the Second Week of October, 2021

By Jorge Cirett

During the 41st week of the year (October 11th to October 17th, 2021), at least 25 press releases were announced by companies working in Mexico. To note, six companies posted exploration advances on their properties, six released Q3 reports and one on commencement of mining, two on financing and eight more on project development or resource definition and one more on mining concessions acquisitions. ON MEXICO ISSUES, Mexico’s president presented a proposal to change the law in the energy industry, but also restricting lithium exploration and production to the government. Several other elements could be included in the bill, referred to as “strategic minerals”, without elaborating, although a government party senator named cobalt, niquel, rare earths and even copper. ON EXPLORATION, In Sonora, Benjamin Hill Mining released results from geophysical processing and from fluid inclusion studies that support a buried intrusive source for the mineralization at the Benjamin Hill property; Canuc Resources updated on its deep drilling program at San Javier; Colibri Resources received the permit to drill Evelyn. In Chihuahua, Kootenay silver increased land holdings at its Columba project. In Sinaloa, Vizsla Silver presented drilling results from the Tajitos zone at its Panuco project.   ON MINING, Guanajuato Silver commenced mining at El Cubo, in Guanajuato. First Majestic Silver, Golden Minerals, Gold Resource, Magna Gold, Aura Minerals and Avino Silver & Gold Mines presented its Q3 2021 reports. ON FINANCING, Candelaria Mining informed one of its lenders, Accendo Banco, had its operating permit revoked by Mexican authorities. Xali Gold announced Sun River Gold arranged a financing for US$6.5 M for the tailings project at El Oro, Estado de Mexico. ON RESOURCES AND DEVELOPMENT, GR Silver Mining filed a NI-43-101 technical report on the Plomosas project, Sinaloa. Orla Mining provided an update on the construction of the Camino Rojo Oxide project. Prime Mining released further drilling results from Los Reyes, Sinaloa. Fabled Silver Gold released underground drilling results for Santa Maria, in Chihuahua. GoGold Resources reported results from drilling at El Favor, on its Los Ricos North project located in Jalisco. Golden Tag resources is adding 4,500 m to its 2021 drilling program at San Diego, Durango. Capitan Mining reported results from drilling at El Capitan, in Durango. Zacatecas Silver is drilling the Panuco and Las Cruces areas, at its Zacatecas project, results pending.   ON DEALS AND CORPORATE ISSUES, Argonaut Gold acquired from Fresnillo PLC 4,791 ha in key concessions surrounding its San Agustin mine in Durango. ON SOCIAL RESPONSIBILITY, Minera Media Luna, Peñols, Newmont Peñasquito and Pan American Silver informed on community programs in education and health.

ON MEXICO ISSUES

  • Mexico is far from being a powerhouse in lithium production according to the Statistical Review of World Energy 2021 by BP. Australia, Chile and China hold 81.2% of reserves and 86.5% of lithium production, whereas Argentina, Brazil, Portugal, the United States and Zimbabwe account for 20.5% of reserves and 12.8% of the production. Camimex (Cámara Minera de México) points that the constitutional reform presented by the Mexican president lacks technical support, as even if there are several lithium projects in Mexico, none has proven economic viability. The most visible of these projects, in Sonora, is said to be the largest lithium prospect in the Globe, but its economic viability has still to be proven, as to date there is not a single mine of lithium in clays in the World.
  • Mexico will not grant lithium concessions, said the Mexican president. He stated that even if his electricity reform is not approved by congress, his government has the power to reject any request for a concession to mine lithium. “We will deny any request for a concession to mine lithium and we have the power to do so. We want this to be established in the constitution, lithium belongs to the state”.
  • Nationalistic views with control on “strategic minerals” have been voiced by Morena, the party in power in Mexico. Besides the explicit aim by the President to save all lithium extracting and processing activities for the government, his recent proposal also refers, without elaborating, to be applied in other “strategic minerals”. A senator form Morena mentioned these other minerals could include cobalt, nickel, rare earths and copper, although a spokeswoman from the Economy Secretariat mentioned that the list of strategic minerals was to be provided by the Mexican Geological Survey at a later date.

ON EXPLORATION

  • Canuc Resources Corp. updated on the exploration program at its San Javier project in Sonora. Three holes have been completed and a fourth one is in progress, currently at 922 m of depth and ongoing. Chalcopyrite has been encountered from 302 m and is still visible at 922 m of depth. “The drill hole has intersected a broad zone of variably stockworked and brecciated Barranca sediments with minor andesitic dykes. The Barranca sediments show contact metamorphism from about 461 m and downward, variable amounts of magnetite bearing veinlets, stringers and breccia matrix throughout”. The first two holes intercepted Barranca Formation sedimentary rocks with magnetite veinlets and best intercepts of 2.35 m @ 126 gpt Ag and 2.0 m @ 243 gpt Ag. The third hole was drilled on the Tarahumara Formation volcanic rocks for 500.5 m before being terminated due to drilling problems, intercepting several volcanic lithologies, chalcocite from 38 m of depth and sulfides including chalcopyrite from 332 m. Scattered gold and copper values on short intervals were intercepted, of up to 1.19 gpt Au and 0.41% Cu. Results for the current hole are still pending.
  • Colibri Resource Corp. received the needed permit to drill up to 56 holes at the Evelyn project in Sonora. “The fully funded drill program of up to 10,000 metres is expected to be conducted in two phases”.
  • Kootenay Silver Inc. increased its land holdings at its Columba project in Chihuahua. The company applied for a 10,825 hectare concession, supporting the decision to do so on the high-grade silver intercepts on drilling of the property.
  • Vizsla Silver Corp. presented the results from 23 new drill holes from the Tajitos vein at its Panuco project in Sinaloa. Highlighted true width intercepts comprise 1.38 m @ 1.16 gpt Au, 79 gpt Ag; 1.34 m @ 7.94 gpt Au, 960 gpt Ag; 0.70 m @ 4.16 gpt Au, 2,082 gpt Ag; 2.15 m @ 1.09 gpt Au, 188 gpt Ag; 1.38 m @ 2.83 gpt Au, 527 gpt Ag; 8.7 m @ 0.51 gpt Au, 99 gpt Ag; 1.99 m @ 2.46 gpt Au, 615 gpt Ag; 0.86 m @ 3.37 gpt Au, 315 gpt Ag; 1.39 m @ 3.26 gpt Au, 73 gpt Ag; 1.3 m @ 2.47 gpt Au, 600 gpt Ag; 1.50 m @ 9.90 gpt Au, 2,607 gpt Ag; 0.7 m @ 5.73 gpt Au, 1,115 gpt Ag; 4.38 m @ 1.62 gpt Au, 216 gpt Ag. The footprint of the Tajitos zone has been recognized for 800 m along strike and 300 m of depth.
  • Benjamin Hill Mining Corp. informed the seven kilometer long trend of epithermal mineralization at its Benjamin Hill project in Sonora is related to a well-defined magnetic anomaly. A magnetic high more than 12 kilometers long and 4 km wide lies beneath the surface, crossing the property in a N-NE orientation, with the Au-Cu mineralization parallel to the crest of the magnetic high.  “Our hypothesis explains that the magnetic anomaly corresponds to a partially exhumed fertile pluton. We suggest the mineralization seen at surface was driven by the heat engine of a buried pluton providing hydrothermal fluids that formed mineralized tabular bodies enriched with Au, Ag, and Cu (i.e. veins and breccias), as well as fluids that caused hydrothermal alteration halos (phyllic, epidote-magnetite and argillic alteration)…”.
  • Mammoth Resources Corp. updated on drilling at its Tenoriba project in Chihuahua. The company informed heavy rainfall during August and September is subduing by now, and that they expect an increase in the drilling rate that produced only 420 m of core in 8 weeks. “Mammoth intends to initially drill 2 – 4 holes within each target zone then move to another target zone to drill a similar number of holes”. Results on the first holes are pending.
  • Benjamin Hill Mining Corp. informed on results of fluid inclusion studies at its Benjamin Hill property in Sonora. The salinity and homogenization temperatures point to an epithermal system with an overprinting magmatic influence, and exhumation depths  between 150 m and 750 m in the mineralized structures. “This observation combined with recent geophysical data, supports the hypothesis of the existence of a mineralized plutonic source with a high possibility for Au-Cu metallic enrichment and porphyry potential”.

ON MINING

  • Guanajuato Silver Company Ltd. commenced to process silver-gold ore at its El Cubo mine and mill in Guanajuato. Prior to the start of mill operations, 20 K tonnes of material from El Cubo were mined and stockpiled, to be processed at 750 tonnes per day (tpd) in the plant with a capacity for 1,500 tpd, or over 500 K tonnes per year.
  • First Majestic Silver Corp. presented production results for the third quarte 2021, including figures from its three Mexican operations. At San Dimas, Durango, 214.2 K tonnes were processed at a rate of 2,328 tpd and a grade of 289 gpt Ag, 3.14 gpt Au, recovering 95% Ag, 96% Au to produce 20,767 Oz Au, 1.89 M Oz Ag. At Santa Elena in Sonora 234.9 K tonnes were processed grading 74 gpt Ag, 1.04 gpt Au, recovering 91% Ag, 96% Au to produce 508.6 K Oz Ag, 7,498 Oz Au. At La Encantada in Coahuila, 263.6 K tonnes were processed grading 134 gpt Ag, 0.02 gpt Au, recovering 80% Ag, 90% Au to produce 905 K Oz Ag, 114 Oz Au.
  • Golden Minerals Co. reported third quarter 2021 production from its Rodeo mine in Durango. The mill processed an average of 532 tpd at a grade of 4.0 gpt Au, recovering 76.5% Au to produce 4,777 Oz Au, 12,196 Oz Ag. Golden’s guidance for 2021 continues between 12 K – 14 K Oz Au and 25 K – 30 K Oz Ag.
  • Gold Resource Corp. presented preliminary third quarter 2021 production results. At its Arista mine in Oaxaca 98 K tonnes were milled at a rate of 1,353 tpd, grading 2.68 gpt Au, 91 gpt Ag, 0.37% Cu, 2.3% Pb, 4.8% Zn, to produce 6,933 Oz Au, 265.8 K Oz Ag, 1,808 tonnes Pb, 3,920 tonnes Zn. The cash cost per AuEq Oz was between $250-$290 and the AISC per AuEq Oz between $250-$290.
  • Magna Gold Corp. reported Q3 2021 production results. At San Francisco, in Sonora, 1.72 M tonnes were mined @ 0.46 gpt Au, and 4.52 M tonnes of waste moved (2.62 strip ratio), 1.76 M tonnes were processed @ 0.45 gpt Au, with 25,663 Oz Au placed in the pads to produce 19,102 Oz Au, 7,115 Oz Ag. The guidance for the year remains at 55-65 K Oz Au.
  • Aura Minerals Inc. announced preliminary production results for the third quarter of 2021, including figures from its Mexican operations. At Aranzazu, in Zacatecas, Aura produced 6,404 Oz Au, 106.1 K Oz Ag, 8.15 M Lb Cu, or 26,745 Oz AuEq.
  • Avino Silver & Gold Mines Ltd. released its production report for the third quarter 2021. The Avino mine in Durango successfully recommenced operations at a 1,000 to 1,500 tpd rate (with a 2,500 tpd plant capacity) with 58.2 K tonnes produced, 61,8 K tonnes processed (with aid of some stock piled material) grading 48 gpt Ag, 0.83 gpt Au, 0.58% Cu, recovering 86% Ag, 75% Au, 85% Cu to produce 77.9 K Oz Ag, 1,183 Oz Au, 685.5 K tonnes Cu.

ON FINANCING

  • Candelaria mining Corp. informed one of its lenders, Accendo Banco S.A. had its authorization to operate as a banking institution revoked by the Mexican National Banking and Securities Commission. “The Company has a US$9.0 million loan facility in place with Accendo and to date has drawn US$1.5 million under the loan facility. The Company anticipates that its ability to draw any further funds from its loan facility with Accendo may be impaired by these developments.” (Pinos, Zacatecas).
  • Xali Gold Corp. announced that Sun River Gold has arranged a financing of US$6.5 M to build an put in operation the tailings reprocessing operation at El Oro, Estado de México. “Sun River has the option to acquire 100% of the Tailings Project from Minera CCM by making staged payments totalling US$500,000 (paid), bring the tailings into commercial production by October 31, 2021 (extended to March 31, 2022 due to COVID), and grant to the Company a 5% NPI, Life of Mine royalty (the “Candente Royalty”) as well as the Municipality’s 8% NPI on production from the properties” (El dorado, Nayarit).

ON RESOURCES AND DEVELOPMENT

  • GR Silver Mining Ltd. filed a technical report on the Plomosas project, in Sinaloa. The report envisages 3.4 M Oz Ag, 53 K Oz Au, 73 M Lb Zn, 48 M Lb Pb (10.3 M Oz AgEq) in indicated resources and 8.6 M Oz Ag, 85 K Oz Au, 149 M Lb Zn, 116 M Lb Pb (21.0 M Oz AgEq) in inferred resources. The report includes information from over 100,000 meters of drilling in 476 historic and 80 new drill holes. A 14,000 meters drilling program with seven rigs is in progress.
  • Orla Mining Ltd. provided a construction update for the Camino Rojo Oxide project in Zacatecas. To date Camino Rojo is 89% complete with the ramp up of mining operations according to plan, and the crushing and conveying system, reclaim tunnel, overland conveyor and grasshopper conveyors completed. The Merrill-Crowe plant and refinery are 98% complete. In the year 757.1 K tonnes have been mined at a grade of 0.86 gpt Au, of which 511.2 K tonnes have been crushed and 220.2 K tonnes stacked.
  • Prime Mining Corp. informed on further drilling results from its Los Reyes project in Sinaloa. Highlighted true width (TW) intercepts comprise 11.8 m @ 6.12 gpt Au, 62 gpt Ag, (including 5.5 m @ 12.02 gpt Au, 61 gpt Ag); 13.1 m @ 3.36 gpt Au, 83 gpt Ag; 13.2 m @ 2.18 gpt Au, 31 gpt Ag; 8.4 m @ 2.85 gpt Au, 31 gpt Ag; 1.4 m @ 3.89 gpt Au, 13 gpt Ag in the Zapote South step out holes, and 3.8 m @ 14.51 gpt Au, 82 gpt Ag; 2.2 m @ 3.96 gpt Au, 9 gpt Ag; 2.1 m @ 5.55 gpt Au, 164 gpt Ag; 2.90 m @ 2.07 gpt Au, 248 gpt Ag; 3.9 m @ 1.90 gpt Au, 78 gpt Ag; 0.9 m @ 3.86 gpt Au, 448 gpt Ag; 4.0 m @ 1.55 gpt Au, 230 gpt Ag in the Tahonitas step out drilling. The boiling level at Zapote, with its corresponding higher grades, has been identified 50 m below previous reports, expanding the exploration targets.
  • Fabled Silver Gold Corp. released further assay results from its Santa Maria property in Chihuahua. The underground drilling was successful in intersecting a geochemically anomalous intrusive rock with a 54.6 m interval grading 0.02 gpt Au, 9 gpt Ag (including three intervals 1.5, 1.5 and 1.2 m in width grading 20, 21 and 23 gpt Ag respectively) and another hole returning 4.5 m @ 13 gpt Ag.
  • GoGold Resources Inc. reported results of 10 new holes from El Favor east zone, extending the mineralized strike by over 450 meters at its Los Ricos North project in Jalisco. Some of the core-length intervals intercepted comprise 27.0 m @ 0.44 gpt Au, 64 gpt Ag; 3.0 m @ 0.51 gpt Au, 86 gpt Ag; 22.3 m @ 0.31 gpt Au, 118 gpt Ag (including 1.0 m @ 3.96 gpt Au, 944 gpt Ag); 7.7 m @ 0.46 gpt Au, 147 gpt Ag; 24.2 m @ 0.45 gpt Au, 105 gpt Ag (including 2.0 m @ 4.16 gpt Au, 794 gpt Ag); 6.1 m @ 1.32 gpt Au, 328 gpt Ag; 2.1 m @ 0.63 gpt Au, 179 gpt Ag; 11.4 m @ 0.26 gpt Au, 136 gpt Ag (including 6.0 m @ 0.38 gpt Au, 179 gpt Ag); 20.1 m @ 0.22 gpt Au, 68 gpt Ag (including 1.0 m @ 2.59 gpt Au, 563 gpt Ag); 18.3 m @ 0.30 gpt Au, 98 gpt Ag (including 5.6 m @ 0.90 gpt Au, 255 gpt Ag). El Favor East mineralization is now known for 900 m, of which 600 m have been drilled.
  • Golden Tag Resources Ltd. announced the addition of 4,500 meters of diamond drilling to its exploration program for 2021 at its San Diego project in Durango. That meterage is in addition to the 4,716 meters already sunk and reported in 2021.   The program discovered epithermal mineralization near the surface, the following are some selected core-length intervals: 273.65 m @ 0.10 gpt Au, 43 gpt Ag, 0.2% Pb, 0.3% Zn (76 gpt AgEq); 50.17 m @ 0.05 gpt Au, 31 gpt Ag, 0.9% Pb, 0.7% Zn; 99.53 m @ 0.09 gpt Au, 27 gpt Ag, 0.7% Pb, 0.6% Zn; 25.55 m @ 0.08 gpt Au, 37 gpt Ag, 0.3% Pb, 0.6% Zn; 86.64 m @ 0.03 gpt Au, 39 gpt Ag, 0.9% Pb, 0.6% Zn; 169.83 m @ 0.04 gpt Au, 32 gpt Ag, 0.6% Pb, 0.8% Zn; 116.45 m @ 0.03 gpt Au, 42 gpt Ag, 0.6% Pb, 0.7% Zn; 134.37 m @ 0.13 gpt Au, 20 gpt Ag, 0.6% Pb, 0.7% Zn; 191.57 m @ 0.04 gpt Au, 35 gpt Ag, 0.8% Pb, 0.8% Zn.
  • Capitan Mining Inc. reported results form five reverse circulation (RC) drill holes at El Capitan, in Durango. Highlighted core length intervals comprise 6.1 m @ 0.15 gpt Au; 13.7 m @ 0.32 gpt Au; 44.2 m @ 0.13 gpt Au, 3 gpt Ag; 6.1 m @ 0.12 gpt Au, 5 gpt Ag; 10.7 m @ 0.12 gpt Au, 27.4 m @ 0.23 gpt Au; 62.5 m @ 0.38 gpt Au, 4 gpt Ag; 35.1 m @ 0.14 gpt Au; 21.3 m @ 0.19 gpt Au; 18.3 m @ 0.15 gpt Au; 6.1 m @ 0.29 gpt Au; 13.7 m @ 0.39 gpt Au, 4 gpt Ag; 85.3 m @ 0.16 gpt Au; 19.8 m @ 0.15 gpt Au, 4 gpt Ag.
  • Zacatecas Silver Corp. provided an update on the drilling program at Panuco, within its Zacatecas property in Zacatecas. Four drill holes were completed for a total of 1,088m at Panuco, while two more were completed at Las Cruces vein system and one more is ongoing. Results are pending.

ON DEALS AND CORPORATE ISSUES

  • Argonaut Gold Inc. has acquired key mineral concessions from Fresnillo PLC for a cash consideration of US$5.75 M. The acquired package comprises a 4,791-ha concession and four key small concessions totalling 27 ha, which will allow Argonaut to expand the pit, increase mineral reserves and extend mine life.

ON SOCIAL RESPONSIBILITY

  • Minera Media Luna informed on educational programs presented at communities in Guerrero.
  • Peñoles presented its company-wide water saving strategy on all its activities.
  • Newmont Peñasquito updated on activities with positive results in near-by communities.
  • Panamerican Silver informed on community health programs near its La Colorada mine in Zacatecas.

On the image below: Galena bearing milky quartz vein on a project in the Sonoran Desert. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the First Week of October, 2021. 

Phyllic alteration and Cu mineralization

By Miguel A Heredia

During the 40th week of the year (October 04th to October 10th, 2021), at least 26 press releases were announced by companies working in Mexico and 3 news published by the media, with nine reporting resources and developments, six communicating production and financial results, four informing on exploration results, four announcing financial topics, three disclosing deals and corporate issues, two commenting on Mexican issues and one discussing social issues.  ON MEXICO ISSUES, Members of the Mining Cluster of Chihuahua met with federal deputies of the Partido Acción Nacional (PAN) to let them know of the importance of mining not only in the state but in the entire country.  President AMLO announced a proposal that would put end the current system of lithium concessions and leave exploration and production in the hands of the State. ON EXPLORATION, In Baja, One World Lithium provided an update of its current drilling program at its Salar del Diablo project. In Sonora, Benjamin Hill provided an update of details on the recently released NI 43-101 report on its Benjamin Hill project.  In Chihuahua, Kootenay reported results from the last six holes collared at its Columba project. In Jalisco, Almadex announced Q4, 2021 plans for its San Pedro project. ON MINING, Endeavour Silver reported Q3, 2021 production results from their Mexican mine operations. Gatos Silver announced Q3, 2021 production results from its 70% owned Cerro Los Gatos mine in Chihuahua. GoGold presented quarterly and year ending September 2021 production results from its Parral Tailings project in Chihuahua. Great Panther announced Q3, 2021 production results from their Topia and Guanajuato Mine Complex mines in Durango and Guanajuato states respectively. McEwen reported Q3, 2021 production results from its El Gallo property in Sinaloa. Torex Gold announced Q3, 2021 production results from its El Limon-Guajes Mine Complex in Guerrero. ON FINANCING, Aztec Minerals announced the arrangement of a non-brokered private placement for gross proceeds of CAD $1.05M (Cervantes project, Sonora). Heliostar announced the commencement of a non-brokered private placement for gross proceeds of up to $2M that later on increased it to a maximum of $4M (Cumaro, Oso Negro and la Lola project in Sonora). Tarachi Gold announced a non-brokered private placement for gross proceeds of up to $500K (Magistral Mill and Tailings project, Durango). ON RESOURCES AND DEVELOPMENT, Almaden announced that it has resumed drilling activities at its Ixtaca project in Puebla. Excellon released results from its underground drilling program conducted at its the Platosa mine in Durango. Fabled reported results from its underground drilling program at its Santa Maria project in Chihuahua.  Golden Tag received approval from the Secretariat of Natural Resources and Environment (SEMARNAT) to build additional 41 drill pads at its San Diego property in Durango. GR Silver completed a 3D resistivity, IP and ground magnetic survey at its Plomosas project in Sinaloa. Impact Silver released results from its underground drilling program at Zacualpan mining district, State of Mexico. Minera Alamos provided an update on the ongoing pit optimization drilling program at its Santana property in Sonora. Silver Dollar received drilling permit for its la Joya project in Durango. Tarachi Gold reported results from the tailings drilling program at its Magistral Mill and Tailings project in Durango. ON DEALS AND CORPORATE ISSUES, Santacruz Mining informed that it is suspending operations at the Rosario Project in San Luis Potosi, and placing it on care and maintenance. Riverside reported on mining claims consolidation and expansion of its the La Union polymetallic project in Sonora. Sailfish entered into a binding letter of intent with 1287398 B.C. Ltd., to create a silver focused exploration and development company (Gavilanes property, Durango). ON SOCIAL RESPONSIBILITY, Fresnillo plc and its subsidiary Minera Penmont delivered an ambulance to representatives of the Red Cross in Caborca, Sonora.

ON MEXICO ISSUE

  • Members of the Mining Cluster of Chihuahua met with federal deputies of the Partido Acción Nacional (PAN) to let them know of the importance of mining not only in the state but in the entire country. Deductions of the mining exploration expenses as well as the electricity reform were some of the issues addressed to the deputies. According to the mining sector, if the electricity reform is approved, it will affect the competitiveness of mining. The Mining Cluster, in communion with government authorities, seeks to generate the development of local supply, as well as attracting greater mining investment in the state.
  • President AMLO announced a proposal that would put end the current system of lithium concessions and leave exploration and production in the hands of the State. However, the owner of the USD $420M project Bacanora Lithium stated that the Mexican government’s plans to bring lithium resources under state control will not affect progress in Sonora, since the new reforms will not affect lithium licenses already granted to private companies, as long as exploration work has already started and all licensing requirements have been met.

ON EXPLORATION

  • One World Lithium Inc., provided an update of its current drilling program at its Salar del Diablo project in Baja. The company announced that hole DDH-4 reached a depth of 381m on October 2, 2021 with an expected total depth of 600m. If the results of DDH-4 warrant it, other boreholes will be drilled in the area.
  • Benjamin Hill Mining Corp., provided an update of details on the recently released NI 43-101 report on its Benjamin Hill project in Sonora. “Detailed mapping at 1:1,000 scale has indicated the presence of a large magmatic-hydrothermal system, including mineralized structures, stockworks, sheeted veins, alteration halos, all of which are hosted in granitoids, an eroded skarn system, a volcaniclastic sequence, and volcanic rocks, as well local orogenic quartz veins. This large hydrothermal system could be co-genetic with a bimodal dike swarm mapped on the property and related to a buried fertile plutonic system, suggesting that geological structures and mineralization seen at surface are indicative of a Cu-Au porphyry system at depth”. Recommended activities to be conducted at the property over the next 2-3 months are completing the mapping and sampling on the areas of Caracahui, la Salada, Caracahui Norte and the Sonora Copper; mapping and channel sampling of the Cascabel and Guadalupe adits; dating studies of the plutonic rocks, prospection of the new areas generated by geochemistry (La Falsa, San Felix, and La Berrenda); and channel sampling on the Sonora Copper adit.
  • Almadex Minerals Ltd announced Q4, 2021 plans for its San Pedro project in Jalisco. The company reported that the property is fully permitted and is currently mobilizing a team and rig to site to conduct a drill testing prior to year-end.
  • Kootenay Silver Inc., reported results from the last six holes collared at its Columba project in Chihuahua. The company announced the best drill intercept to date in hole CDH-21-103 with 333 g/t Ag over 44m, including 805 g/t Ag over 17m, including 1,201 g/t Ag over 11m, including 2,035 g/t Ag over 6m, and a high of 9,840 g/t Ag over 0.92m.

ON MINING

  • Endeavour Silver Corp., reported Q3, 2021 production results from their Mexican mine operations. The next table shows the production for the third quarter 2021 by mine:
  • Gatos Silver Inc., announced Q3, 2021 production results from its 70% owned Cerro Los Gatos mine in Chihuahua. The company mined 242,899 tonnes and milled 234,054 tonnes of 256 g/t Ag, 0.3 g/t Au, 2.35% Pb, and 4.1% Zn with metallurgical recoveries of 89%, 63%, 91%, and 74% respectively, to produce 1.7M Oz Ag, 1.3K Oz Au, 10.8M Lb Pb, and 13.5M Lb Zn.
  • GoGold Resources Inc., presented quarterly and year ending September 2021 production results from its Parral Tailings project in Chihuahua. GoGold produced 221.2K Oz Ag, 3,437 Oz Au and 309.1K Lb Cu (526,044 Oz AgEq) in the quarter period for a total of 1.14 M Oz Ag, 13.45K Oz Au, and 1.05M Lb Cu (2.27M Oz AgEq) in the full year ending in September 2021.
  • Great Panther Mining Limited announced Q3, 2021 production results from their Topia and Guanajuato Mine Complex mines in Durango and Guanajuato states respectively. At Topia, Durango, the company processed 14, 433 tonnes of 373 g/t Ag, and 0.64 g/t Au with metallurgical recoveries of 93.7% and 72.2% respectively, to produce 162.2K Oz Ag, 215 Oz Au, 600.3K Lb Pb, and 777.3K Lb Zn (242K Oz AgEq or 2,847 Oz AuEq). At Guanajuato Mine Complex, Guanajuato, Great Panther processed 41,343 tonnes of 102 g/t Ag, and 1.64 g/t Au with metallurgical recoveries of 87.1% and 86.4% respectively, to produce 118K Oz Ag and 1,883 Oz Au (278K Oz AgEq or 3,271 Oz AuEq). “The Company has not yet been granted a permit from the Comisión Nacional del Agua (CONAGUA) to expand the TSF at the Guanajuato Mill Complex, which only has sufficient capacity to continue milling operations until December 2021. While the Company continues to proactively engage CONAGUA to expedite the permitting process, the operating assumption is that a permit will not be forthcoming and numerous longer-term solutions are currently being assessed, including processing ore at third-party facilities”.
  • McEwen Mining Inc., reported Q3, 2021 production results from its El Gallo property in Sinaloa. In Q3, El Gallo produced 560 Gold Equivalents Ounces (GEOs) from residual leaching of the heap leach pad.
  • Torex Gold Resources Inc., announced Q3, 2021 production results from its El Limon-Guajes Mine Complex in Guerrero. The company reported a gold production of 111,220 Oz. The company sold this production at an average realized gold price of USD $1,785 per Oz.

ON FINANCING

  • Aztec Minerals Corp., announced the arrangement of a non-brokered private placement for gross proceeds of CAD $1.05M. Part of the net proceeds will be used to conduct exploration work at its Cervantes porphyry Au-Cu project in Sonora.
  • Heliostar Metals Limited announced the commencement of a non-brokered private placement for gross proceeds of up to $2M that later on was increased to a maximum of $4M. Part of the gross proceeds will be used to conduct exploration work at the Cumaro, Oso Negro and la Lola project in Sonora.
  • Tarachi Gold Corp., announced a non-brokered private placement for gross proceeds of up to $500K. Proceeds of the private placement will be used for general working capital. (Magistral Mill and Tailings project, Durango).

ON RESOURCES AND DEVELOPMENT

  • Almaden Minerals Ltd., announced that it has resumed drilling activities at its Ixtaca project in Puebla. The company also informed that all fieldwork has been conducted in compliance with the Mexican Institute for Social Security (IMSS) since the Company’s Covid-19 protocols detected several COVID-19 cases amongst members of the Company’s local staff. All these individuals were immediately quarantined and supported by the company and one was hospitalized, who unfortunately passed away despite all best efforts. The company has established a COVID Committee that meets weekly to assess the COVID- 19 situation, ensure commitment to company protocols, and discuss opportunities for improvement in the protocols.
  • Excellon Resources Inc., released results from its underground drilling program conducted at its the Platosa mine in Durango. Highlights include hole EX21UG90 with 1,570 g/t Ag, 10.4% Pb, 29.6% Zn, and 0.1 g/t Au (2,860 g/t AgEq) over 7.5m, including 2,424 g/t Ag, 14% Pb, and 35% Zn (3,987 g/t AgEq) over 3.4m, plus 479 g/t Ag, 4.6% Pb, and 2% Zn (667 g/t AgEq) over 2.5m, including 1,758 g/t Ag, 16.5% Pb, and 7.5% Zn (2,441 g/t AgEq) over 0.5m; and hole EX21UG687 with 1,214 g/t Ag, 8.3% Pb, and 16.9% Zn (2,009 g/t AgEq) over 3.1m, including 2,530 g/t Ag, 16.7% Pb, and 19.3% Zn (3,623 g/t AgEq) over 1.2m. “Drilling from underground continues to define and expand known mineralization ahead of production at the 623 and NE-1S mantos. Drilling at Platosa will continue to target areas ahead of production and test the extent of mineralization around mine workings”. 
  • Fabled Silver Gold Corp., reported results from its 1,200m underground drilling program at its Santa Maria project in Chihuahua. Hole SMUG21-16 intersected 0.21 g/t Au,  120 g/t Ag, 0.1% Pb, 0.4% Zn, and 0.01% Cu (131 g/t AgEq) over 5.1m, including 0.6 g/t Au, 387 g/t Ag, 0.35% Pb, 0.6% Zn, and 0.01% Cu (418 g/t AgEq) over 1.3m. Hole SMUG21-17 drilled from the same setup but with different dip angle intersected 1.07 g/t Au, 106 g/t Ag, 0.05% Pb, and 0.2% Zn (161 g/t AgEq) over 3.95m, including 6.46 g/t Au, 490 g/t Ag, 0.3% Pb, 0.45% Zn, and 0.01% Cu (822 g/t AgEq) over 0.60m.
  • Golden Tag Resources Ltd., received approval from the Secretariat of Natural Resources and Environment (SEMARNAT) to build additional 41 drill pads at its San Diego property in Durango, increasing the total number of permissible pads to 55. The new permit is valid for a period of 4 years.
  • GR Silver Mining Ltd., completed a 3D resistivity, IP and ground magnetic survey at its Plomosas project in Sinaloa. This geophysical survey links San Marcial resource with the recent GAP area discovery and the San Juan resource. Elevated chargeability has been identified in the vicinities of San Marcial resource area; the magnetic survey shows several oriented magnetic features; and the resistivity data shows that important parts of the Plomosas project are separated into structural blocks controlled by NW-trending faults and mineralized structures. Early-stage field assessment of Ag-Au targets is underway and several of these are currently in the drill planning stage.
  • Impact Silver Corp., released results from its underground drilling program in the Lipton area of its Guadalupe Mine at Zacualpan mining district, State of Mexico. Significant drill intercepts were encountered in hole MPZ-UG-001-21 with 327 g/t Ag, 0.3% Pb, and 0.6% Zn over a true width (TW) of 2.5m; hole MPZ-UG-002-21 with 691 g/t Ag, 0.3%, and 0.7% over a TW of 1.29m; hole MPZ-UG-006-21 with 443 g/t Ag, 0.2% Pb, and 0.3% Zn over a TW of 1.90m; and hole MPZ-UG-014-21 with 472 g/t Ag, 0.2% Pb, and 0.5% Zn over a TW of 1.69m. The drill holes covered the vein systems over a strike length of 430m and a vertical distance of 200m.
  • Minera Alamos Inc., provided an update on the ongoing pit optimization drilling program at its Santana property in Sonora. Drilling highlights include hole S20-147D with 0.69 g/t Au over 248.8m from surface and ending in mineralization; hole S20-149D with 0.77 g/t Au over 152.7m from surface, including 1.39 g/t Au over 56.2m; and hole S21-160D with 0.51 g/t Au over 242.7m from 41.9 down hole.   
  • Silver Dollar Resources Inc., received permit for the next phase of drilling at its la Joya project in Durango. The company is cashed-up and eager to restart exploration drilling for the first time in over seven years.
  • Tarachi Gold Corp., reported results from the tailings drilling program at its Magistral Mill and Tailings project in Durango. A total of 37 vertical auger holes were completed to depths ranging from 1.3 to 14.5m with an average depth of 6.6m. The 171 gold tailings samples ranged in grade from 0.89 to 4.12g/t with an average of 2.04g/t Au.

ON DEALS AND CORPORATE ISSUES

  • Santacruz Silver Mining Ltd., informed that it is suspending operations at the Rosario Project in San Luis Potosi, and placing it on care and maintenance. This decision was made following an extensive review by management of the Rosario project operations and strategic options available including the potential sale of the operation.
  • Riverside Resources Inc., reported on mining claims consolidation and expansion of its the La Union polymetallic project. The acquisition of the La Famosa and Plomito small internal claims provided Riverside access to high-grade small scale mine properties increases its property total area to over 2,604 hectares. Riverside optioned these properties over 4 years term staged cash payments without any NSR.  At La Famosa, Riverside can earn 100% of interest in the property by making a total cash payment of USD $175K in staged cash payments starting with USD $10K in the first year anniversary, $USD 15K in the second year, USD $25 in the third year, USD $50K in the fourth year, and a final cash payment of USD $75,000. At Plomito, Riverside can earn 100% interest in the property by making a total cash payment of USD $165K in staged cash payments, starting with USD $10K in the first year anniversary, $USD 15K in the second year, USD $25 in the third year, USD $40K in the fourth year, and a final cash payment of USD $75,000.
  • Sailfish Royalty Corp., entered into a binding letter of intent with 1287398 B.C. Ltd., to create a focused exploration and development company (Pubco or Sailfish Silver as the proposed transaction). The plan is to transfer the Gavilanes Silver Project to Pubco in exchange for shares of Pubco.  

ON SOCIAL RESPONSIBILITY

  • Fresnillo plc and its subsidiary Minera Penmont delivered an ambulance to representatives of the Red Cross in Caborca, Sonora. With this action, the Mexican company strengthens the vehicle fleet of the health institution that is responsible for protecting the health of the people of Caborca.

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 phyllic alteration with Cu mineralization in a prospect in Sonora, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of August, 2021.

Cockade and quartz blade textures

By Miguel A Heredia

During the 34th week of the year (August 23th to August 29th, 2021), at least 14 press releases were announced by companies working in Mexico and 2 news published by the media, with six reporting resources and developments of their properties, five informing on exploration results, two discussing social issues, one communicating production and financial results, one announcing financial topics, and one disclosing deal and corporate issues.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Benjamin Hill confirmed the presence of gold and copper mineralization at depth at its Sonora Gold project, and Tocvan provided an update of its phase II drilling program at El Pilar project. In Chihuahua, Kootenay informed about the discovery of a potential new high-grade zone at its Columba project. In Sinaloa, Vizsla announced that it has resumed drilling at its flagship Panuco project and released new exploration drill results from the step-out drilling at the Napoleon Corridor.  ON MINING, Mexus Gold announced that the activated carbon system at its Santa Elena mine in Sonora is working as planned to produce gold.  ON FINANCING, Alamos Gold declared quarterly dividends of USD $0.025 per common share and announced it repurchased 600K shares at a cost of USD $4.5M (Mulatos mine, Sonora).  ON RESOURCES AND DEVELOPMENT, Discovery presented Q2, 2021 financial results and provided an update of key activities for its flagship Cordero project in Chihuahua. Fabled reported drill results from its newly upgraded 14,200m drilling program at its Santa Maria project in Chihuahua and informed that one hole intersected multiple mineralized sheeted vein structure over a true width of 150m. GoGold released results from six holes drilled at El Orito Zone at its Los Ricos North project in Jalisco and reported the completion of an IP survey to map out the sulphide rich zone along strike and dip. Golden Tag finished a geological interpretation program in partnership with Orix Geoscience at its San Diego project located in Durango.  GR Silver completed an initial resource estimate at its Plomosas project in Sinaloa. ON DEALS AND CORPORATE ISSUES, Bacanora Lithium provided an update on the litigation with the Estate of Colin Orr-Ewing in regard to its challenge to the validity of the lithium royalty over the Sonora Lithium Project. ON SOCIAL RESPONSIBILITY, Grupo Mexico Foundation supports reforestation of protected natural areas in the country. La Cantera Desarrollos Mineros provided financial support for the construction of a medical appointment center in the community of Ojo de Agua in Guanajuato.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Benjamin Hill Mining Corp (BHM), confirmed the presence of gold and copper mineralization at depth from channel samples collected underground in the Guadalupe and Cascabel adits at its Sonora Gold project. Highlights of the underground  samples collected over 2m intervals in the Guadalupe adit include 9.6 g/t Au and 0.5% Cu; 8.4 g/t Au and 0.3% Cu; 0.4 g/t Au and 4.3% Cu; 0.3 g/t Au and 3.5% Cu; and 0.2 g/t Au and 2.1% Cu. Highlights of the underground  samples collected over 1.5m interval in the Cascabel adit include 7.7 g/t Au and 0.4% Cu; 2.2 g/t Au and 0.4% Cu; 2.2 g/t Au and 0.7% Cu; 1.5 g/t Au and 2.9% Cu ; 1.3 g/t Au and 2.5% Cu; and 0.8 g/t Au and 2.4% Cu. Highlights of composites of channel samples from the underground sampling were calculated and include 1.54 g/t Au, 0.41% Cu, and 27 g/t Ag over 14m; 1.82 g/t Au,  0.88% Cu, and 44 g/t Ag over 7.5m; and 0.83 g/t Au, 0.38% Cu, and 19 g/t Ag over 7.5m. “The results of the underground sampling program proves that surface gold and copper mineralization extends to depth and supports BHM´s model of a copper-gold epithermal system. BHM geologists have previously mapped copper-gold mineralized structures over 8km cumulative length often attaining widths of 10´s of meters. The results of the adits sampling work supports the rational that the mineralized structures are drill ready targets”.
  • Tocvan Ventures Corp., provided an update from its phase II drilling program at El Pilar project in Sonora. The company drilled 3,500m in 20 RC holes and reported that it was successful in three key target areas: The Main Zone expansion with 30m to the northwest and a total of 150m to the southeast. The most significant results was encountered in hole JES-21-38 which intersected 0.71 g/t Au and 2 g/t Ag (0.73 g/t AuEq) over 29m, including 2.6 g/t Au over 3.1m, including 1.9 g/t Au over 6.1m, and 0.56 g/t Au over 24.4m; the 4 Trench Zone, where it defined a new mineralized trend over 500m strike, parallel to the Main Zone. The most significant drill intersect was encountered in hole JES-21-53 with 1.1 g/t Au and 2 g/t Ag, including 2.4 g/t Au and 3 g/t Ag over 4.6m, including 4.6 g7t Au and 3 g7t Ag over 1.5m; and the Triple Vein Zone where one hole drilled intersected a narrow silver-rich zone with gold. Hole JES-21-56 intersected 0.57 g/t Au and 139 g/t Ag over 1.5m.
  • Kootenay Silver Inc., informed that it has completed its Phase 3 drilling program which consisted of 12 holes and announced the discovery of a potential new high-grade zone at its Columba project in Chihuahua. Hole CDH-21-101 intersected 459 g/t Ag over 1.6m, including 1,190 g/t Ag over 0.5m and 127 g/t Ag over 1.1m. The company is planning to design a drill program to drill test this new area with high grade silver potential.
  • Vizsla Silver Corp., announced that it has resumed drilling at its flagship Panuco project in Sinaloa due to an increase of COVID-19 risk in the local community. The company expects to return to full capacity with ten rigs running at the project. Vizsla also reported new exploration drill results from the ongoing step-out drilling at the Napoleon Vein Corridor.  Highlights of the ongoing drilling on Napoleon North and South include hole NP-21-170 collared at Papayo Zone with 825 g/t Ag, 7.95 g/t Au, 0.6% Pb, and 1.4% Zn (1,564 g/t AgEq) over 11.4m including 11,431 g/t Ag, 100.5 g/ t Au, 3.6% Pb, and 9.9% Zn (20,413 g/t AgEq) over 0.7m on Josephine Vein, and 104 g/t Ag, 1.25 g/t Au, 2.2% Pb, and 5% Zn (382 g/t AgEq) over 3.3m on Napoleon Vein; hole NP-21-150 collared at Ojo de Agua Zone with 34 g/t Ag and 3.95 g/t Au, (401 g/t AgEq) over 2.9m; and hole NP-21-153 with 55 g/t Ag and 6.87 g/t Au (697 g/t AgEq) over 1.7m. Drilling has currently extended the mineralized footprint for over 2.5Km along the Napoleon Vein Corridor.

ON MINING

  • Mexus Gold US announced that the activated carbon system at its Santa Elena mine in Sonora is working as planned to produce gold. “Mexus is enlarging the heap leach pad and has purchased the liner and seaming equipment to complete the job. Increasing the pad will allow Mexus to run 24 hours a day 7 days a week at 12 liters per second representing a 110% increase over current flows”.

ON FINANCING

  • Alamos Gold Inc., declared quarterly dividends of USD $0.025 per common share and announced it repurchased 600K shares at a cost of USD $4.5M or USD $7.50 per share, under its Normal Course Issuer Bid thus far in August. The dividend is payable on September 30, 2021 to shareholders of record as of the close of business on September 16, 2021. (Mulatos mine, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Discovery Silver Corp., presented Q2, 2021 financial results and provided an update of key activities for its flagship Cordero project in Chihuahua. The company reported cash and cash equivalents and short term investment balance of CAD $88M. The Company’s cash position as of the date of this release is approximately CAD $84M. Discovery also reported results from its ongoing Phase 2 drilling campaign focused on reserve definition, resource expansion and high-grade vein delineation. Highlights of the reserve definition and resource expansion program include hole C21-481 with 75 g/t Ag, 0.45 g/t Au, 1.1% Pb, and 1% Zn (194 g/t AgEq) over 217.3m, including 99 g/t Ag, 0.54 g/t Au, 1.5% Pb, and 1.4% Zn (260 g/t AgEq) over 81.9m; hole C21-479 with 78 g/t Ag, 0.11 g/t Au, 1.7% Pb, and 2.8% Zn (260 g/t AgEq) over 132.6m, including 110 g/t Ag, 0.1 g/t Au, 2.4% Pb, and 5.9% Zn (448 g/t AgEq) over 46.3m, and 194 g/t Ag, 0.12 g/t Au, 4.2% Pb, and 9.6% Zn (748 g/t AgEq) over 21.5m; hole C21-476 with  51 g/t Ag, 0.09 g/t Au, 1.2% Pb, and 2.2% Zn (192 g/t AgEq) over 86.2m, including 97 g7t Ag, 0.16 g7t Au, 2.3% Pb, and 4.3% Zn (372 g/t AgEq) over 36.5m; hole C21-417 with 69 g/t Ag, 0.11 g/t Au, 0.7% Pb, and 3.7% Zn (258 g/t AgEq) over 65.9m; and hole C20-405 with 65 g/t Ag, 0.05 g/t Au, 1.2% Pb, and 1.3% Zn (165 g/t AgEq) over 128.2m, including 109 g/t Ag, 0.06% Au, 2% Pb, and 1.9% Zn (263 g/t AgEq) over 26.1m. Results from this bulk-tonnage drilling “has expanded the higher-grade bulk-tonnage domain by more than 250 m northeast, along strike in the South Corridor. This domain has now been defined over a strike length of approximately 1.4 km and drilled to a depth of 500 m and remains open below this”. Highlights from the high grade vein drilling on Josefina Vein Trend include hole C21-421 with 520 g/t Ag, 0.11 g/t Au, 3% Pb, and 9.8% Zn (1,043 g/t AgEq) over 4.1m; hole C21-457 with 1,570 g/t Ag, 16.25 g/t Au, 7% Pb, and 19% Zn (3,934 g/t AgEq) over 1.1m; and hole C21-435 with 1,960 g/t Ag,  0.32 g/t Au, 15.4% Pb, and 21.6% Zn (3,424 g/t AgEq) over 1.1m. Highlights from the high grade vein drilling on Todos Santos Vein Trend include hole C20-404 with 163 g/t Ag, 0.17 g/t Au, 2.8% Pb, and 3.1% Zn (403 g/t AgEq) over 2.2m; hole C21-409 with 160 g/t Ag, 0.39 g/t Au, 3.8% Pb, and 6.4% Zn (589 g/t AgEq) over 1m; and hole C21-418 with 160 g/t Ag, 0.27 g/t Au, 3.3% Pb, and 6.3% Zn (558 g/t AgEq) over 2.5m. The company also reported that its PEA study, which aimed to deliver a technically robust study that outlines one of the largest producing primary silver operations in the industry, is progressing well and announced that it is expected to be completed and delivered in Q4, 2021.
  • Fabled Silver Gold Corp., reported drill results from its newly upgraded 14,200m drilling program at its Santa Maria project in Chihuahua and informed that one of these holes intersected multiple mineralized sheeted vein structure over a true width of 150m. The table below shows the assay results from drill hole SM-20-25:

In addition, hole SM20-26 encountered 9 gold bearing veins and veinlets varying from 0.2 to 6m wide which returned grades greater than 0.5 g/t Au, while hole SM20-27 encountered only 3 veins and veinlets grading greater than 0.5 g/t Au.

  • GoGold Resources inc., released results from six holes drilled at El Orito Zone in its Los Ricos North project in Jalisco. The most significant drill intersect was from hole LRGO-21-062 which intersected 22 g/t Ag, 0.04 g/t Au, 0.09% Cu, 0.91% Pb, and 1.37% Zn (101 g/t AgEq) over 73.7m, including 73 g/t Ag, 0.07 g/t Au, 0.3% Cu, 5.5% Pb, and 3.1% Zn (339 g/t AgEq) over 5m, including 132 g/t Ag, 0.08 g/t Au, 1.08% Cu, 22.5% Pb, and 13% Zn (1,197 g/t AgEq) over 1.2m. The company also completed an IP survey aimed to map out the sulphide rich zone along strike and down dip. Drill results at El Orito Zone indicate that mineralization averages 30m in width for more than 700m in strike length and up to approximately 300 m in vertical depth from surface and is open in all directions.
  • Golden Tag Resources Ltd., finished a geological interpretation program in partnership with Orix Geoscience 2018 Inc., at its San Diego project located in Durango. This geological interpretation included a review of the lithology, alteration, structure and assays database to develop a current 3D geological model to better define locations of broad zones of skarn mineralization. The study determined that mineralization is concentrated at the Central Diorite contact and is associated with the development of both brown and green garnet skarns. “These broad zones of mineralized skarn are open to the north and at depth within the diorite and marble, as well as to the northwest and southeast of the currently modeled Fernandez Zone. Future drilling will be planned to drill these target areas.
  • GR Silver Mining Ltd., completed an initial resource estimate at its Plomosas project in Sinaloa. GR Silver reported indicated resources of 2.4M tonnes of 0.68 g/t Au, 44 g/t Ag, 0.9% Pb, and 1.2% Zn (133 g/t AgEq) for a total of 53K Oz Au, 3.4M Oz Ag, 48.1M Lb Pb, and 72.8M Lb Zn, and inferred resources of 5.8M tonnes of 0.46 g/t Au, 46 g/t Ag, 0.9% Pb, and 1.2% Zn (113 g/t AgEq) for a total of 85K Oz Au, 8.6M Oz Ag, 115.7M Lb Pb, and 148.6M Lb Zn.

ON DEALS AND CORPORATE ISSUES

  • Bacanora Lithium plc., provided an update on the litigation with the Estate of Colin Orr-Ewing in regard to its challenge to the validity of the lithium royalty over the Sonora Lithium Project. The Alberta Court has now issued its judgement that found in favor of the Estate of Colin Orr-Ewing. Bacanora intends to appeal this judgement on a point of law and maintains that the royalty is invalid on the grounds of misrepresentation and lack of consideration and intends to exhaust all legal avenues on behalf of all its shareholders.

ON SOCIAL RESPONSIBILITY

  • Grupo Mexico Foundation supports reforestation of protected natural areas in the country. The company has planted 82,340 trees and shrubs of 25 species in 10 Protected Natural Areas of Mexico City.
  • La Cantera Desarrollos Mineros provided financial support to the community of Ojo de Agua, Guanajuato for the construction of a medical appointment center in benefit of approximately 60 inhabitants.

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, cockade and quartz blade textures in an intermediate sulphidation epithermal vein system from a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of July, 2021

By Jorge Cirett

During the 29th week of the year (July 19th to July 25th, 2021), at least 19 press releases were announced by companies working in Mexico. To note, two companies posted exploration advances on their properties, two on quarterly reports and one in reopening plans, two on financing news, five more on project development or resource definition and two posted on deals or corporate issues. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Silver Spruce added a second rig to Drilling at El Diamante. In Chihuahua, Mammoth Resources informed on drill targeting at Tenoriba.  ON MINING, Fortuna Silver and Excellon Resources released Q2 2021 reports. Americas Gold and Silver updated on the re-opening plan at its Cosalá operations. ON FINANCING, Altaley Mining executed a 12 M loan agreement for the development of Tahuehueto. ON RESOURCES AND DEVELOPMENT, Mexican Gold Mining continues work on Cerro Las Minitas PEA. Sonoro Gold released results from surface rock chip sampling at Cerro Caliche. Southern Silver Exploration reported diamond drill results from Cerro Las Minitas. GoGold Resources released drilling results from Los Ricos North.  ON DEALS AND CORPORATE ISSUES, Sierra Madre Gold and Silver signed an option agreement on the acquisition of the La Tigra project in Nayarit. Vizsla Silver is to exercise the option to acquire 100% of the Panuco-Copala district in Sinaloa.  ON SOCIAL RESPONSIBILITY, Peñoles and Fresnillo PLC informed on the several projects that the companies provide for the education of young people on several areas of Mexico, especially in digital platforms. Conalep and the New Mexico Institute of Mining signed an agreement to enhance the learning of students across the borders.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Mammoth Resources Corp. informed on drill targeting activities at Tenoriba, in Chihuahua. “The Company has extended drill targets an additional 1.7 kilometres (km), for a total of over 4.0 km from its previously announced initial 2.4 km of the 3-dimensional (3D) modelling of its infill, Induced Polarization/Magnetometer (IP/Mag) geophysical survey”. Work in the project by previous operators, Mammoth and Centerra includes over 6,000 soil samples, more than 750 rock chip samples, 151 m of surface channel samples, 26 diamond drill holes, IP and magnetic geophysical surveys, mapping, and spectral identification of alteration minerals.
  • Silver Spruce Resources Inc. is to continue its phase 1 reverse circulation drilling at El Mezquite in Sonora. Seven holes have been already completed, and a second rig has been added to the property to complete the 2,475 m of drilling. “The Phase 1 RC program comprises 20 holes with a combined depth of 2,475 metres (950 metres completed) and will utilize eight drill pad locations focused around a 400m x 600m area with elevated precious metal values to 3.41 g/t Au and 387 g/t Ag”.

ON MINING

  • Fortuna Silver Mines Inc. reported production results for the second quarter 2021. At its San José mine in Oaxaca, 1.62 M Oz Ag, 10,266 Oz Au were produced from ore averaging 205 gpt Ag, 1.30 gpt Au. Production and cost guidance for 2021 is 5.8-6.5 M Oz Ag, 38-42 K Oz Au at an AISC of US$12.2-14.5 per Oz AgEq.
  • Excellon Resources Inc. announced Q2 2021 production results from its Platosa mine in Durango. A total of 21.8 K tonnes were mined, and 21.6 K tonnes were milled @ 489 gpt Ag, 5.14% Pb, 6.48% Zn, recovering 87.0% Ag, 78.6% Pb, 79.4% Zn, to produce 296 K Oz Ag, 1.93 M Lb Pb, 2.46 M Lb Zn.
  • Americas Gold and Silver Corp. provided an update on the re-opening plan of its Cosalá operations in Sinaloa. The Company and Government Labour inspectors jointly visited the mine and mill and both appear in good condition. “Mexican government inspectors from the Mexican Ministry of Labour will be in Cosalá this week to review the re‐start plans, which will allow the Company to begin recalling employees immediately following the completion of the inspection assuming compliance with the terms of the July 6, 2021 agreement“. The company expects the mine and the mill to be operating by the end of July, and the operation also has 70 K tonnes of ore stockpiled and ready to process.

ON FINANCING

  • Altaley Mining Corp. executed a US$12 M loan facility agreement with Accendo Banco S.A. Institución de Banca Múltiple, to complete the final part of it’s previously announced US$25 M Accendo syndicate funding plan to complete the construction and ramp-up of its Tahuehueto project in Durango (Campo Morado, Guerrero).
  • Zacatecas Silver Corp. announced that its common shares are eligible for electronic clearing and settlement through the Depositary Trust Co. in the United States. “DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible” (Zacatecas Silver, Zacatecas).

ON RESOURCES AND DEVELOPMENT

  • Mexican Gold Mining Corp. announced work continues to produce the PEA on its Las Minas project in Veracruz, within three weeks.
  • Sonoro Gold Corp. reported assay results from surface sampling at its Cerro Caliche property in Sonora. With 1,292 soil and rock samples collected, a 600 m southern extension and a 750 m extension were confirmed on the El Colorado-La Ventana and the Buena Suerte-San Quintin corridors, with 23.7 m @ 1.7 gpt Au (including 5.5 m @ 6.0 gpt Au) in the former and 52.6 m @ 0.2 gpt Au in the latter.
  • Southern Silver Exploration Corp. reported diamond hole drilling results from its Cerro Las Minitas project in Durango. Highlighted true width intervals comprise 1.4 m @ 719 gpt Ag, 14.2% Pb, 16.0% Zn; 0.4 m @ 541 gpt Ag, 0.1 gpt Au, 8.8% Pb, 4.0% Zn in the South Skarn target, and 0.5 m @ 452 gpt Ag, 0.5 gpt Au, 2.8% Pb, 0.6% Zn; 0.5 m @ 312 gpt Ag, 0.12 gpt Au, 2.8% Pb, 0.6% Zn in the Huizache chimney in the Mina La Bocona area. “Current modelling has identified three panels of mineralization at the South Skarn target, the largest of which can now be traced laterally for approximately 400 metres and up to 580 metres down-dip”.
  • GoGold Resources Inc. released results of eight diamond drill holes from El Orito area in the Los Ricos North project in Jalisco. Highlighted core length intervals comprise 41.2 m @ 10 gpt Ag, 0.01 gpt Au, 0.06% Cu, 0.3% Pb, 2.0% Zn; 33.3 m @ 19 gpt Ag, 0.03 gpt Au, 0.08% Cu, 1.1% Pb, 1.7% Zn; 13.0 m @ 30 gpt Ag, 0.02 gpt Au, 0.22% Cu, 0.3% Pb, 1.1% Zn; 3.0 m @ 19 gpt Ag, 0.02 gpt Au, 0.34% Cu, 1.3% Pb, 1.6% Zn; 18.0 m @ 51 gpt Ag, 0.09 gpt Au, 0.06% Cu, 0.4% Pb (including 1.9 m @ 230 gpt Ag, 0.34 gpt Au, 0.23% Cu, 1.0% Pb; 54.3 m @ 97 gpt Ag, 0.12 gpt Au, 0.70% Cu, 2.9% Pb, 5.4% Zn; 38.1 m @ 32 gpt Ag, 0.03 gpt Au, 0.17% Cu, 1.9% Pb, 2.7% Zn; 69.1 m @ 26 gpt Ag, 0.05 gpt Au, 0.14% Cu, 1.0% Pb, 1.6% Zn (including 4.0 m @ 149 gpt Ag, 0.25 gpt Au, 0.70% Cu, 3.2% Pb, 6.9% Zn). “The holes that the Company has drilled to date at El Orito have shown mineralization averaging approximately 30m in width for more than 700m in strike length and up to approximately 300m in vertical depth from surface and is open in all directions”.
  • Minera Alamos Inc. informed that its Santana project in Sonora continues to advance as programmed despite the above average rainfall to date in the area. The press release describes all the progress in leach solution systems, overliner placement, crushing and screening, grade procedures and mining.

ON DEALS AND CORPORATE ISSUES

  • Sierra Madre Gold and Silver Ltd. Entered into a purchase agreement with an option to joint venture with Industrial Minera México S.A. de C.V. (IMMSA) for the 357 ha. La Tigra project in Nayarit, 150 km north of its flagship’s Tepic project. The agreement involves payment of US$1.5 M over three years, with Sierra Madre obliged to produce a 43-101 technical report before the end of the period. IMMSA holds a 2.5% NSR royalty of which Sierra Madre can acquire 1.5% for US$1.5 M.
  • Vizsla Silver Corp. signed a binding agreement with Minera Rio Panuco S.A. de C.V. and executed a binding option exercise notice with Silverstone Resources which together constitute the acceleration and exercise of the option to acquire 100% of the Panuco-Copala district in Sinaloa. Vizsla has to pay $US4.25 M upon signing, issue US$12 M in Vizsla shares before August 10, 2021; and make a cash payment of $US6.1 M before February 2022.

ON SOCIAL RESPONSIBILITY

  • Peñoles and Fresnillo PLC  informed on the several projects that the companies support provide for the education of young people on several areas of Mexico, especially in digital platforms.
  • Conalep (Colegio Nacional de Estudios Profesionales y Tecnicos) and the New Mexico Institute of Mining and Technology signed an agreement to enhance the learning of Mexican and American students.

On the image below:  Intense quartz veining in a granitic intrusive rock in Sinaloa. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Third Week of July, 2021.

Vein-Bx hosted in volcanic rocks

By Miguel A Heredia

During the 28th week of the year (July 12th to July 18th, 2021), at least 29 press releases were announced by companies working in Mexico and 4 news published by the media, with nine communicating production and financial results, nine reporting on resources and developments of their properties, seven announcing financial rounds, four informing on exploration results, two commenting on Mexican issues and two discussing social issues.  ON MEXICO ISSUES, The Ministry of Economy of Mexico alerted the public about false information that is being disseminated on behalf of the “Undersecretariat of Mining” and recalled that it no longer exists. The Mexican Geological Service (SGM) and the Government of Hidalgo signed an agreement to join efforts on research and science to integrate a knowledge-creating system. ON EXPLORATION, In Sinaloa, Vizsla presented results from the first four holes collared at the Josephine Vein within its Panuco project. In Durango, Mithril released drilling result from its Copalquin property. In Zacatecas, Alien provided an update on the review and planning for the next phase of exploration on its Donovan 2 project. In Oaxaca, Inomin filed a NI43-101 technical report for its la Gitana project. ON MINING, Aura reported Q2, 2021 production from its Aranzazu mine in Zacatecas. First Majestic reported Q2, 2021 production results from their Mexican mine operations. Altaley presented Q2, 2021 production and financial results from its Campo Morado mine in Guerrero. Golden Minerals reported Q2, 2021 production results from its Rodeo mine in Durango. Gold Resource released Q2, 2021 production results from its Arista mine in Oaxaca. Magna Gold presented Q2, 2021 production results from its San Francisco mine in Sonora. McEwen reported Q2, 2021 production results from its El Gallo project, Sinaloa. Mexus announced that the company will be shipping approximately 1 tonne of activated carbon to USA for processing.  ON FINANCING, Almadex and Azucar Minerals granted stock options to certain directors, employees and consultants. Gatos Silver signed a definitive agreement to retire its portion of the Los Gatos JV term loan and announced a public offering to sell shares of its common stock (Los Gatos mine, Chihuahua). One World Lithium announced a non-brokered private placement for gross proceeds of up to CAD $2,025,000 (Salar del Diablo project, Baja California). Riverside informed that it is to receive USD $5.4M in exploration funding from BHP to advance four copper projects in Sonora. Orla Mining closed a non-broker prospectus financing for gross proceeds of USD $35M (Camino Rojo project, Zacatecas).  ON RESOURCES AND DEVELOPMENT, Discovery Silver released results from 13 drill holes collared at its Cordero project in Chihuahua. Fabled announced results from its ongoing drilling program at Santa Maria project in Chihuahua. Avino presented results from Phase 1 of the drill campaign conducted at its Avino mine in Durango. GoGold released results from eleven drill holes collared at its Los Ricos North project in Jalisco. Golden Tag presented results from a drill hole collared at the Fernandez Zone within its San Diego property in Durango. Great Panther announced Q2, 2021 production results from their Topia and Guanajuato Mine Complex located in Durango and Guanajuato respectively. IMPACT informed that it has completed phase 1 of the Veta Negra drilling program in the Zacualpan mining district, State of Mexico. Kootenay hired Blue Coast Research to conduct metallurgical testing on its la Negra property in Sonora. Prime Mining released drill results from its Los Reyes project in Sinaloa.  Silver Tiger announced that it continue intersecting high grade mineralization at its El Tigre project in Sonora.  ON DEALS AND CORPORATE ISSUES, no relevant news. ON SOCIAL RESPONSIBILITY, Grupo México donated 8,000 native trees to Hermosillo, Sonora. The Government of Zacatecas along with representatives of the mining companies Fresnillo plc and Capstone Gold began with the Tree Donation Program.

ON MEXICO ISSUES

  • The Ministry of Economy of Mexico alerted the public about false information that is being disseminated on behalf of the “Undersecretariat of Mining” and recalled that it no longer exists. Through a press release, the agency indicated that it has no relationship with the “Commission National Mining Reactivation and Sustainable Production Mexico 2021”, nor with the “Project for Reactivation and Sustainable Production”, nor with the “Guide to Good Operating Practices”, which is supposedly being prepared by the “Undersecretary of Mining of the Government of Mexico”. According to Article 243 of the Federal Criminal Code, the crime of falsifying public documents will be punishable by imprisonment from four to eight years.
  • The Mexican Geological Service (SGM) and the Government of Hidalgo signed an agreement to join efforts on research and scienceto integrate a knowledge-creating system, for the benefit of future generations. Objectives are established to work together on two projects: Comarca Minera Geopark and LABChico: Mineral del Chico Underground Laboratory.

ON EXPLORATION

  • Vizsla Silver Corp., presented results from the first four holes collared at the Josephine Vein within its Panuco project. Highlights include hole NP-21-132 with 2.16 g/t Au, 599 g/t Ag, 0.4% Pb, and 1% Zn (797 g/t AgEq)  over 2.5m, including 12.4 g/t Au, 3,320 g/t Ag, 1.8% Pb, and 4.9% Zn (4,431 g/t AgEq) over 0.3m; and hole NP-21-139 with 3.4 g/t Au, 426 g/t Ag, 1% Pb, and 5.5% Zn (869 g/t AgEq) over 1.45m, including 3.91 g/t Au, 502 g/t Ag, 1.2% Pb, and 6.8% Zn (1,020 g/t AgEq) over 1.15m. “Drilling intersected veining of 90m strike, 190m depth where it remains open.  Ground Electromagnetic (EM) has mapped the vein over 1.7 km”.
  • Mithril Resources Ltd., released drilling result from its Copalquin property in Durango. Bonanza grade was intersected in hole CDH-077 collared at El Refugio Area with 80.3 g/t Au and 705 g/t Ag over 8.26m, including 106 g/t Au and 913 g/t Ag over 6.26m, including 837 g/t Au and 6,680 g/t Ag over 0.77m. Other high grade intercepts were encountered in hole CDH-075 with 13.8 g/t Au and 83 g/t Ag over 2.7m, plus 10.9 g/t Au and 364 g/t Ag over 4.25m, including 16.3 g/t Au and 414 g/t Ag over 2.65m, plus 1.02 g/t Au and 17 g/t Ag over 2m, plus 0.84 g/t Au and 35 g/t Ag over 4.5m; and hole CDH-076 with 0.93 g/t Au and 16 g/t Ag over 2.4m, plus 2.06 g/t Au and 95 g/t Ag over 5m, plus 0.86 g/t Au and 39 g/t Ag over 1m. Drilling results continue expanding the El Refugio structure down dip with high-grade and bonanza grade gold-silver intercepts.
  • Alien Metals Ltd., provided an update on the review and planning for the next phase of exploration on its Donovan 2 project in Zacatecas. Alien has received this property back from Capstone after ceasing their agreement. After reviewing all the exploration work carried out at Donovan 2, Alien concluded that the original high-priority targets identified by Alien prior to Capstone’s involvement remain untested. In the eastern area of Donovan 2 property, a north-south grid to collect 55 Metal Mobile Ion (MMI) surface geochemical samples has been designed and work has commenced. “The Company is finalizing an initial 4-to-6 hole program for about 800m to target the Los Alamos and Cerro de la Cruz targets once a review of the current drilling permit status is completed, the MMI results are received and reprocessing of the geophysics are completed to ensure the Company has used every available piece of data to maximize confidence in the drilling program”. 
  • Inomin Mines Inc., filed a NI43-101 technical report for its la Gitana project located in Oaxaca. La Gitana is an advance property where a substantial near-surface, low-sulphidation, epithermal gold-silver mineral system has been outlined. “Previous drilling programs at La Gitana in 2004 – 2006 by Chesapeake Gold Corp., intersected gold-silver mineralization in a core zone 400 to 500m long, 50 to 150m wide and 50 to 300m depth, with grades ranging from 0.25 to 27.8 g/t gold and 5 to 2,330 g/t silver”.  The gold-silver mineralization is open to expansion to the southeast and at depth from drill-tested areas.  Inomine plans to conduct a phase 2 drilling campaign and complete a preliminary resource estimation.

ON MINING

  • Aura Minerals inc., reported Q2, 2021 production from its Aranzazu mine in Zacatecas. It produced 5,120 Oz Au, 84,263 Oz Ag, and 6.78M Lb Cu for a total of 22,590 GEO (Oz AuEq).
  • First Majestic Silver Corp., reported Q2, 2021 production and financial results from their Mexican mine operations. The table below, shows mine by mine figures:
MineOre ProcessedTonnes per DayAg Grade (g/t)Au Grade (g/t)Ag RecoveryAu RecoveryAg Oz ProducedAu Oz ProducedAgEq Oz produced
San Dimas202,3822,2243013.0795%96%1,868,03119,2273,176,725
Santa Elena234,3812,576811.1793%96%565,4538,4531,140,398
La Encantada242,8392,6691380.0278%90%840,541102847,502
TOTAL679,6027,4691671.3289%94%3,27,402527,7825,164,625
  • Altaley Mining Corporation presented Q2, 2021 production and financial results from its Campo Morado mine in Guerrero. The company milled 164.1K tonnes of 1.2 g/t Au, 129 g/t Ag, 1.1% Pb, and 4.5% Zn with metallurgical recoveries of 22%, 46%, 31%, and 74% respectively to produce 11.9K tonnes of Zn concentrate and 2.7K tonnes of Pb concentrate. Altaley reported revenues of USD $13.9M from the sale of Zn concentrates and USD $2.27M for the Pb concentrates for total revenue of USD $16.2M.
  • Golden Minerals Company reported Q2, 2021 production results from its Rodeo mine in Durango.  The company mined 164,954 tonnes from which it processed 49,552 tonnes of 3.6 g/t Au and 10 g/t Ag with metallurgical recoveries of 78% and 83.9% respectively to produce 3,452 Oz Au and 11,225 Oz Ag (3,230 Oz AuEq).
  • Great Panther Mining Limited announced Q2, 2021 production results from their Topia and Guanajuato Mine Complex located in Durango and Guanajuato respectively. At Topia, Durango, the company processed 15,520 tonnes of 432 g/t Ag, 1.07 g/t Au with metallurgical recoveries of 93.5% and 60.3% respectively, to produce 201,339 Oz Ag, 321 Oz Au, 799.7K Lb Pb, and 1.07M Lb Zn (3123K Oz AgEq or 3,674 Oz AuEq. At the Guanajuato Mine Complex, the company processed 40,477 tonnes of 118 g/t Ag and 1.58 g/t Au with metallurgical recoveries of 87.4% and 87.6% respectively, to produce 133K Oz Ag and 1,786 Oz Au (284.9K Oz AgEq or 3,352 Oz AuEq).
  • Gold Resource Corporation released Q2, 2021 production results from its Arista mine in Oaxaca. The company milled 129,590 tonnes from Arista and El Aguila mines with grades of 1.91 g/t Au, 79 g/t Ag, 0.36% Cu, 1.6% Pb, and 3.6% Zn at Arista mine and 2.58 g/t Au and 47 g/t Ag at El Aguila to produced 5.7K Oz Au, 270.3K Oz Ag, 817.6K Lb Cu, 2.7M Lb Pb, and 7.15M Lb Zn.
  • Magna Gold Corp., presented Q2, 2021 production results from its San Francisco mine in Sonora. It mined 1.23M tonnes  of 0.43 g/t Au and processed 1.35M tonnes (all sources) of 0.49 g/t Au to produce 11.7K Oz Au and 8.4K Oz Ag. The company sold 11.8K Oz Au and 8.4K Oz Ag.
  • McEwen Mining Inc., reported that it produced 1,300 Gold Equivalent Oz (GEOs) during Q2, 2021 at its El Gallo project, Sinaloa from residual leaching of the heap leach pad.
  • Mexus Gold US announced that the company will be shipping approximately 1 tonne of activated carbon to USA for processing which is believed to contain 4K grams of Au.

ON FINANCING

  • Almadex Minerals Ltd., granted stock options to certain directors, employees and consultants to purchase 757,800 common shares at an exercise price of $0.30 per share which expire on July 8, 2023 (El Chato project, Puebla).
  • Azucar Minerals Ltd., granted stock options to certain directors, employees and consultants to purchase 793,800 common shares at an exercise price of $0.11 per share which expire on July 8, 2023 (El Cobre project, Veracruz).
  • Gatos Silver Inc., signed a definitive agreement to retire its attributable portion of the los Gatos JV term loan which is approximately $154.8M, and announced a public offering to sell shares of its common stock to raise funds to achieve a more cost-efficient capital structure, including the potential extinguishment of the Los Gatos Joint Venture’s term loan, and to create additional liquidity in Gatos Silver’s common stock. The company plans to offer 6,500,000 shares of common stock and for certain selling stockholders to offer 1.82M shares of common stock. In addition, Gatos Silver and the selling stockholders intend to grant the underwriters a 30-day option to purchase up to 975K and 273K additional shares of common stock, respectively, at the public offering price, less underwriting discounts and commissions (Los Gatos mine, Chihuahua).
  • One World Lithium announced a non-brokered private placement for gross proceeds of up to CAD $2,025,000. It will allocate the net proceeds as follows: Salar del Diablo Lithium property southern and possible middle portion of the property drilling program CAD $750K; initial lab tests, design of and completing engineer design work for a pilot plant for the company’s critical fluid separation technology CAD $750K and CAD $525K for working capital.  
  • Riverside Resources Inc., informed that it is to receive USD $5.4M in exploration funding from BHP to advance four copper projects as part of the expanding copper exploration program with BHP in Sonora.  The properties to advance are Chuin, Palofierro, Sinoquipe, and Peñitas. Chuin and Palofierro are drill-ready properties, and drilling permits are underway, while Sinoquipe and Peñitas will be subject to Magneto-Telluric surveys which are expected to commence after contractors are secured.  This new funding of at least USD 5.4M is in addition to the USD $1.3M allocated for the next generative phase of exploration work, which began two months ago.
  • Orla Mining Ltd., closed a non-broker prospectus financing for gross proceeds of USD $35M consisting of 9,085,263 common shares priced at CAD $4.75 per common share. Part of the net proceeds will be used for development activities and at its Camino Rojo Oxide Gold Project in Zacatecas, and for general corporate purposes.

ON RESOURCES AND DEVELOPMENT

  • Discovery Silver Corp., released results from 13 drill holes collared at its flagship Cordero project in Chihuahua. These results are part of the recently completed phase 1 drill program and are going to be incorporated in a new resource estimate in Q3, 2021 and PEA in Q4, 2021. Highlights include hole C21-457 with 1,570 g/t Ag, 16.25 g/t Au, 7% Pb, and 19% Zn (3,934 g/t AgEq) over 1.1m; hole C21-435 with 122 g/t Ag, 0.06 g/t Au, 1.1% Pb, and 1.9% Zn (245 g/t AgEq) over 28.5m, including 1,960 g/t Ag, 0.32 g/t Au, 15.4% Pb, and 21.6% Zn (3,424 g/t AgEq) over 1.1m; hole C21-437 with 87 g/t Ag, 0.05 g/t Au, 0.9% Pb, and 0.8% Zn (157 g/t AgEq) over 58.8m, including 1,480 g/t Ag, 0.22 g/t Au, 13.1% Pb, and 20% Zn (2,789 g/t AgEq) over 1.2m; hole C21-436 with 1,385 g/t Ag, 0.49 g/t Ag, 7.5% Pb, and 10.9% Zn (2,139 g/t AgEq) over 1.4m; hole C21-435 with 385 g/t Ag, 1.15 g/t Au, 5.9% Pb, and 11.9% Zn (1,179 g/t AgEq) over 4.5m; and hole C21-459 with 420 g/t Ag, 0.32 g/t Au, 8.8% Pb, and 14.9% Zn (1,374 g/t AgEq) over 1.3m. In addition, “the company has completed 17,200 m (47 holes) as part of its Phase 2 drill program which will be ongoing through the remainder of the year. Phase 2 drilling will be focused on three key areas: (1) upgrading inferred resources for inclusion in a prefeasibility study; (2) resource expansion of bulk-tonnage mineralization; and (3) testing of the width, grade and continuity of the extensive high-grade vein systems that transect the deposit. There are currently four drill rigs operating on site”.
  • Fabled Silver Gold Corp., announced results from the current ongoing drilling program at its Santa Maria project in Chihuahua. The most significant drill intercept was encountered in hole SM20-20 with 2.5 g/t Au, 32 g/t Ag, 0.6% Pb, 0.5% Zn, and 0.03% Cu (161 g/t AgEq) over 30.7m, including 3.33 g/t Au, 41 g/t Ag, 0.8% Pb, 0.5% Zn, and 0.04% Cu (213 g/t AgEq) over 22.70m, including 5.61 g/t Au, 64 g/t Ag, 1.4% Pb, 0.9% Zn, and 0.06% Cu (353 g7t AgEq) over 11.60m, including 7.24 g/t Au, 80 g/t Ag, 1.9% Pb, 1.1% Zn, and 0.07% Cu (453 g/t AgEq) over 7.24m. “The Company has now completed drill holes SM20-01 to SM20-24 for a total of approximately 6,500 meters of the increased 9,200 meter drill program drilled to date. Hole SM20-25 is currently in progress”.
  • Avino Silver & Gold Mines Ltd., presented results from Phase 1 of the drill campaign, which is looking to add measured and indicated resources to its Avino mine in Durango. The most significant drill intersects on El Trompo Vein were encountered in holes  TR-21-01 with 0.56 g/t Au, 177 g/t Ag,  0.5% Pb, and .7% Zn (577 g/t AgEq) over 0.95m; and hole TR-21-03 with 0.42 g/t Au, 276 g/t Ag, 0.1% Cu, 0.3% Pb, and 0.1% Zn (322 g/t AgEq) over 2.75m. On the Santiago Vein, the most significant drill intercepts was encountered in hole ST-21-04 with 2.62 g/t Au, 643 g/t Ag, 0.25% Cu, 0.3% Pb, and 0.3% Zn (865 g/t AgEq) over 0.8m. On the La Malinche Vein, the best drill intersects were encountered in hole LM-21-04 with 1.68 g/t Au, 252 g/t Ag, 1.17% Cu, 0.9% Pb, and 10.3% Zn (820 g/t AgEq) over 1.4m; and hole LM-21-06 with 1.56 g/t Au, 364 g/t Ag, 2.9% Cu, 0.7% Pb, and 0.06% Zn (786 g/t AgEq) over 0.90m.
  • GoGold Resources Inc., released results from eleven drill holes collared at its Los Ricos North project in Jalisco. Drilling highlights include hole LRGCS-21-047 collared at Casados Area with 0.76 g/t Au and 145 g/t Ag (2.71 g/t AuEq or 203 g/t AgEq) over 22.6m, including 4.31 g/t Au and 864 g/t Ag (15.84 g/t AuEq or 1,188 g/t AgEq) over 2m; and hole LRGCS-21-056 also collared at Casados Area with 0.96 g/t Au and 187 g/t Ag (3.45 g/t AuEq or 259 g/t AgEq) over 45.9m, including 6.17 g/t Au and 1,050 g/t Ag (20.17 g/t AuEq or 1,513 g/t AgEq) over 4.5m, including 13.01 g/t Au and 2,034 g/t Ag (40.12 g/t AuEq or 3,009 g/t AgEq) over 2m, including  19.87 g/t Au and 2,877 g/t Ag (58.23 g/t AuEq or 4,367 g/t AgEq).
  • Golden Tag Resources Ltd., presented results from hole 21-58 drilled at a steep angle toward the southwest to test the top of the Fernandez Zone resource envelope within its San Diego property in Durango. This hole intersected 0.13 g/t Au, 151 g/t Ag, 1.4% Pb, 1.7% Zn and 0.12% Cu (306 g/t AgEq) over a length of 6.55m, plus 0.14 g/t Au, 96 g/t Ag, 1.9% Pb, 1.6% Zn, and 0.07% Cu (258 g/t AgEq) over 16.34 g/t AgEq, plus 0.04 g/t Au, 0.8% Pb, 0.8% Zn, and 0.06% Cu (111 g/t AgEq) over 191.57m. Future drilling will be designed to determine if the grade improvement can be extended to the west and at depth below hole 21-58.
  • IMPACT Silver Corp., informed that it has completed phase 1 of the Veta Negra drilling program in the Zacualpan mining district, State of Mexico. The most significant drill intercept was encountered in hole Z21-05 with 187 g/t Ag0.98 g/t Au, 1.2% Pb, and 2.5% Zn over 13.85m. “The Veta Negra vein system was mined historically as both an open pit and from underground. Two north-northwest trending parallel veins enclosed by stockwork mineralized host rock are currently being mined by IMPACT over widths averaging 14 metres in the open pit”.
  • Kootenay Silver Inc., hired Blue Coast Research to conduct metallurgical testing on its la Negra property in Sonora with the aim to further investigate the best recovery process for La Negra along the path towards an initial mineral resource estimate and a preliminary economic assessment (PEA).
  • Prime Mining Corp., released drill results from the Noche Buena deposit within its Los Reyes project in Sinaloa. Highlights include hole 21NB-06 with 1.29 g/t Au and 61 g/t Ag over a true width (TW) of 28.9m , including5.74 g/t Au and 108 g/t Ag over a TW of 3.6m; hole 21NB-09 with 2.89 g/t Au and 62 g/t Ag over a TW of 8.4m, including 18 g/t Au and 209 g/t Ag over a TW of 1.2m; hole 21NB-08 with 1.23 g/t Au and 28 g/t Ag over a TW of 8.9m, including 6.08 g/t Au and 91 g/t Ag over a TW of 0.9m; hole 21NB-10 with 0.7 g/t Au and 28 g/t Ag over a TW of 15.6m, including 3.73 g/t Au and 109 g/t Ag over a TW of 0.9m; hole 21NB-05 with 0.77 g/t Au and 48 g/t Ag over a TW of 2.9m, including 2.67 g/t Au and 140 g/t Ag over a TW of 0.4m; hole 21NB-11 with 1 g/t Au and 18 g/t Ag over a TW of 5.2m;and hole 21NB-07 with 0.65 g/t Au and 21 g/t Ag over 10.4m. “The Noche Buena deposit remains open at depth and further along strike”.
  • Silver Tiger Metals Inc., announced that it continue intersecting high grade mineralization at its El Tigre project in Sonora. Highlights from the ongoing drilling program include hole ET-21-231, collared at the Sooy Vein with 303 g/t Ag, 0.11 g/t Au, 0.13% Cu, 0.8% Pb, and 0.7% Zn (369 g/t AgEq) over 10.8m, including 801 g/t Ag, 0.35 g/t Au, 0.71% Cu, 3.1% Pb, and 2.8% Zn (2,063 g/t AgEq) over 0.5m, and 125 g/t Ag,  0.17 g/t Au, 0.06% Cu, 0.5% Pb, and 0.7% Zn (180 g/t AgEq) over 21.9m, including 534 g/t Ag, 0.09 g/t Au, 0.2% Cu, 2.4% Pb, and 4% Zn (749 g/t AgEq) over 1.5m; and hole ET-21-235 collared at the Benjamin Vein with 89 g/t Ag, 0.1 g/t Au, 0.12% Cu, 0.8% Pb, and 1.1% Zn (161 g/t AgEq) over 6.3m, including 391 g/t Ag, 0.13 g/t Au, 0.56% Cu, 3.6% Pb, and 4.4% Zn (686 g/t AgEq) over 1m.

 ON DEALS AND CORPORATE ISSUES

  • No relevant news.

ON SOCIAL RESPONSIBILITY

  • Grupo México donated 8,000 native trees to Hermosillo, Sonora. The procedures to request the specimens began six months ago through the civil association Actions for a Better World by Karina López Ivich, who is the director and also climate leader of Climate Reality.
  • The Government of Zacatecas along with representatives of the mining companies Fresnillo plc and Capstone Gold began with the Tree Donation Program. Mining companies settled in the entity, has set a goal of delivering 10 thousand trees with the commitment to plant them in suitable places, carry out the necessary care and maintenance and guarantee their survival.

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 volcanic-hosted epithermal vein-breccia from a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Third Week of June, 2021.

Quartz Vein-Breccia

By Miguel A Heredia

During the 24th week of the year (June 14th to June 20th, 2021), at least 15 press releases were announced by companies working in Mexico and 6 news published by the media, with seven reporting on resources and developments, five informing on exploration results, four commenting on Mexican issues, two announcing financial rounds, two discussing social issues, and one disclosing deals and corporate issues.  ON MEXICO ISSUES, Dhipna Yanssen Weichselbaum, head of the Federal Programs in Baja California explained that 12,000 people will be consulted in Mulegé to carry out the consultation of El Boleo. The Argentine Embassy in Mexico along with the Ministry of Mining of that country carried out a working seminar with the Mexican company Baluarte Minero (Industrias Peñoles and Fresnillo PLC). The consultation for the nationalization of lithium, proposed by President Andrés Manuel López Obrador, is not necessary, since, it is already owned by Mexico. ON EXPLORATION, In Sonora, Tocvan and its JV partner Colibri reported drill results from its the El Pilar project, and Tarachi started a second drilling program on its San Javier mining concession at La Colorada gold bearing breccia pipe. In Chihuahua, Mammoth reported results from an additional 1.7km of 3D geophysical modeling conducted at its Tenoriba project. In Nayarit, Sierra Madre provided an update on the activities developed at its Tepic project. ON MINING, no relevant news. ON FINANCING, Azucar granted stock options to certain directors and officers of the company (El Cobre project, Veracruz). Advance Gold closed a private placement financing for gross proceeds of $200K (Tabasqueña project, Zacatecas). ON RESOURCES AND DEVELOPMENT, Almaden completed a surface induced polarization geophysical (IP) program at its Ixtaca project in Puebla. GoGold released results from eight drill holes collared at its Los Ricos project in Jalisco. Silver Viper filed on SEDAR a NI 43-101 technical report supporting the maiden mineral resource estimate for its La Virginia project in Sonora. Torex released an updated mineral resource estimate for its media Luna project in Guerrero. Zacatecas Silver announced positive preliminary metallurgical test results from its Zacatecas Silver property. Excellon filed on SEDAR an independent NI 43-101 technical report for its La Platosa mine in Durango. Ridgestone announced that it filed on SEDAR a NI 43-101 technical report for its Guadalupe y Calvo project in Chihuahua.    ON DEALS AND CORPORATE ISSUES, SilverCrest presented results of its annual general meeting of shareholders (Las Chispas project, Sonora).    ON SOCIAL RESPONSIBILITY, Peñoles community center received population from 40 to 49 years for anticovid vaccine in Torreón. Peñoles and Fresnillo plc announced that they are training young Mexicans in seven states.

ON MEXICO ISSUES

  • Dhipna Yanssen Weichselbaum, head of the Federal Programs in Baja California explained that 12,000 people will be consulted in Mulegé to carry out the consultation of El Boleo. the procedure will consist of 2 phases: one is the publication of the call to know the expansion of the MIA project and then the citizen consultation that will take place in the communities of Santa Rosalía and San Ignacio, among others, which are related to the El Boleo mining company.
  • The Argentine Embassy in Mexico along with the Ministry of Mining of that country carried out a working seminar with the Mexican company Baluarte Minero (Industrias Peñoles and Fresnillo PLC). The group’s interest was particularly focused on the provinces of Neuquén, Rio Negro, Salta, Mendoza and San Juan, where Mexican businessmen expressed their intention to evaluate the possibility of investing in mining projects in the region. Technical experts and professionals from Baluarte Minero were informed about prospects for gold, silver, copper, potassium and lithium in Argentina.
  • According to experts of the Association of Mining Engineers, Metallurgists and Geologists of Mexico (AIMMGM), the consultation for the nationalization of lithium, proposed by President Andrés Manuel López Obrador, is not necessary, since, it is already owned by Mexico. Article 27 of the constitution clearly states that all mineral deposits that are in Mexican territory are property of the Nation, so it would not be necessary to nationalize lithium.

ON EXPLORATION

  • Tocvan Ventures Corp., and its JV partner Colibri Resource Corporation reported drill results from four RC holes collared at its the El Pilar project in Sonora. Highlights includes a drill intersection of 0.66 g/t Au over a length of 35.1m in hole JES-21-43 drilled at the Main Zone. This drill intercept includes 1.7 g/t Au over 13.7m, including 6.8 g/t Au and 7 g/t Ag over 3.1m. Tocvan is currently completing 3,500m of RC drilling in 20 holes comprising its Phase II program at Pilar. Thirteen RC holes are still pending of assay results.
  • Tarachi Gold Corp., started a second drilling program on its San Javier mining concession at La Colorada gold bearing breccia pipe. The plan is to drill four holes down-dip of the breccia pipe to test the continuity of the positive results encountered from the 2020 drill program performed at the property, which returned high grade intersections.
  • Mammoth Resources Corp., reported results from an additional 1.7km of 3D geophysical modeling conducted at its Tenoriba project in Chihuahua. “This additional 3D modelling shows similar strong correlation between IP/Mag  geophysical features and anomalous surface gold-in-soil, chips and channel samples together with numerous gold intervals in diamond drilling and extends these coincident features over this additional 1.7Km of a total of 4km of IP/Mag coverage over a larger 6km east-west trend of surface gold-silver mineralization at Tenoriba”.
  • Sierra Madre Gold and Silver Ltd., provided an update on the activities developed at its Tepic project in Nayarit. The company has already drilled over 80% of the 2,000m and is expected to be completed soon. This is part of the 20 RC holes panned for its phase 1 drilling program. RC drill results will be released once assaying is completed. Sierra Madre is preparing new drill permits to conduct a Phase 2 drill program for additional 100-200 holes. The company also has commenced a 2,700m Phase 1 trenching program for the central project area. It will help to provide information to consider designing the Phase 2 drill program. The company also announced that, mapping and sampling continue in the northern and eastern project areas with an emphasis on prospecting arroyos and creek beds for signs of mineralization.

ON MINING

  • No relevant news.

ON FINANCING

  • Azucar Minerals Ltd., granted stock options to certain directors and officers of the company to purchase an aggregate of 413K common shares at an exercise price of $0.13 per share which expire on June 14, 2023 (El Cobre project, Veracruz).
  • Advance Gold Corp., closed a private placement financing for gross proceeds of $200K. The company plans to use the proceeds to advance their lithium-potassium boron prospective salars in central Mexico and for general corporate purposes.

ON RESOURCES AND DEVELOPMENT

  • Almaden Minerals Ltd., completed a surface induced polarization geophysical (IP) program at its Ixtaca project in Puebla. The IP results are being processed and combined with geological, geochemical and geophysical data collected in the past to outline drill targets beneath the Southeast Alteration Zone and at depth beneath the Ixtaca deposit.
  • GoGold Resources Inc., released results from eight drill holes collared at the Casados deposit at its Los Ricos North project in Jalisco. The most significant drill intersection was encountered in hole LRGCS-21-043 with 0.12 g/t Au and 270 g/t Ag (3.72 g/t AuEq or 279 g/t AgEq) over 0.9m, plus 0.46 g/t Au and 135 g/t Ag (2.25 g/t AuEq or 169 g/t AgEq) over 0.46m, plus 0.43 g/t Au and 132 g/t Ag (2.19 g/t AuEq or 164 g/t AgEq) over 33.6m, including 0.88 g/t Au and 270 g/t Ag (4.48 g/t AuEq or 336 g/t AgEq) over 15.3m, including 1.78 g/t Au and 539 g/t Ag (8.97 g/t AuEq or 673 g/t AgEq) over 6.7m, including 3.77 g/t Au and 930 g/t Ag (16.17 g/t AuEq or 1,213 g/t AgEq) over 1.9m.
  • Silver Viper Minerals Corp., filed on SEDAR a NI 43-101 technical report supporting the maiden mineral resource estimate for its La Virginia project in Sonora. El Rubi Zone contains an indicated resource of 6,179,000 tonnes of 0.78 g/t Au and 35 g/t Ag for 154.3K Oz Au and 6.93M Oz Ag, and inferred resources of 3,255,000 tonnes of 0.9 g/t Au and 36 g/t Ag for 94.1K Oz Au and 3.75M Oz Ag in open pit category. Virginia, El Oriental, Las Huatas and Las Huatas South add and inferred resource of 6,622,000 tonnes of 0.71 g/t Au and 41 g/t Ag for 152.2K Oz Au and 8.74M Oz Ag in open pit category, and 277K tonnes of 1.92 g/t Au and 62 g/t Ag for an additional 14K Oz Au and 451.5K Oz Ag in the underground category. Gold and Silver Equivalents for Indicated resource equal 253,286 Oz AuEq or 17,730,000 Oz AgEq. Gold and Silver Equivalents for Inferred resource equal 445,176 Oz AuEq or 31,162,300 Oz AgEq.
  • Torex Gold Resources Inc., released an updated mineral resource estimate for its media Luna project in Guerrero. Torex reported indicated resources for 20.9M tonnes of 3.21 g/t Au, 32 g/t Ag, and 1.07% Cu (5.27 g/t AuEq) to contain 2.15M Oz Au, 21.3M Oz Ag, and 492M Lb Cu (3.54M Oz AuEq), and inferred resources for 18.9M tonnes of 2.11 g/t Au, 28 g/t Ag, and 1.04% Cu (4.08 g/t AuEq) to contain 1.28M Oz Au, 17.1M Oz Ag, and 431M Lb Cu (2.48M Oz AuEq).
  • Zacatecas Silver Corp., announced positive preliminary metallurgical test results from its Zacatecas Silver property, for both bulk flotation and sequential flotation recovery options,  with the bulk floatation flow-path producing a single gold, silver, lead and zinc rougher concentrate (15 minutes of floatation and 23% mass pull) with 697 g/t silver, 0.97 g/t gold, 1.67% zinc and 0.58% lead and recovering 96.2 % of the silver, 93.6% of the gold, 96.5% of the zinc and 92.1 % of the lead.
  • Excellon Resources Inc., filed on SEDAR an independent NI 43-101 technical report. This technical report documents a mineral resource statement for the Platosa Mine in Durango. The company reported measured + indicated resources for 317K tonnes of 485 g/t Ag, 5.3% Pb, and 5.5% Zn to contain 4.9M Oz Ag, 36.79M Lb Pb, and 38.78M Lb Zn, and inferred resources for 42K tonnes of 749 g/t Ag, 4.3% Pb, and 5.4% Zn to contain 1M Oz Ag, 4M Lb Pb, and 5M Lb Zn.
  • Ridgestone Mining Inc., announced that it filed on SEDAR a NI 43-101 technical report to support the maiden mineral resource estimate for its Guadalupe y Calvo project in Chihuahua. Ridgestone reported indicated resources for 6,427,444 tonnes of 50 g/t Ag and 1.05 g/t Au (1.72 g/t AuEq) to contain 10.43M Oz Ag and 217K Oz Au (356K Oz AuEq), and inferred resources for 3,074,146 tonnes of 94 g/t Ag and 3.4 g/t Au (4.65 g/t AuEq) to contain 9.3M Oz Ag and 335.6K Oz Au (460K Oz AuEq).

ON DEALS AND CORPORATE ISSUES

  • SilverCrest Metals Inc., presented results of its annual general meeting of shareholders held in Vancouver, BC, Canada (Las Chispas project, Sonora). 

ON SOCIAL RESPONSIBILITY

  • Industrias Peñoles S.A.B. de C.V., community center received population from 40 to 49 years and pregnant women of more than nine weeks of gestation for anticovid vaccine in Torreón. The inoculation is carried out by personnel of the General Hospital of the Zone from the Mexican Social Security Institute  # 18 (IMSS) as well as nurses from said mining company.
  • Industrias Peñoles S.A.B. de C.V., and Fresnillo plc announced that they are training young Mexicans in seven states. Both companies recognize that education plays an important role in people’s lives, because it provides them with new tools that contribute to improve their quality of life. In this sense, they teach specialized courses for girls, children and young people in various areas such as science, technology, engineering, human development, health, entrepreneurship and children’s literacy, among others.

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 quartz vein-bx in a low sulphidation epithermal system in a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Second Week of June, 2021

By Jorge Cirett

During the 23rd week of the year (June 7th to June 13th, 2021), at least 25 press releases were announced by companies working in Mexico. To note, six companies posted exploration advances on their properties, three posted on financing ($2.6M, $1.43 M, C$11.5 M) and one on a debt settlement with shares, six more on project development or resource definition and three posted on deals or corporate issues. ON MEXICO ISSUES, The bodies of seven miners killed on a coal mine collapse in Coahuila have been recovered. ON EXPLORATION, in Baja, Comet Resources commenced a drill program at Santa Teresa. In Sonora, Minaurum is re-commencing drilling at its Alamos Silver project; Silver Spruce commenced phase II ground exploration at Jackie; Tarachi Gold released RC drilling results from La Dura mine at its Tarachi project. Radius gold released ground exploration results from Maricela. In Sinaloa, Kootenay Silver released good drilling results at Copalito.  ON MINING, no relevant news. ON FINANCING, Santacruz Silver settled a C$4.5 M debt by issuing shares to debtors. Three companies informed on financing rounds: Silver Viper Minerals ($1.4 M, aggregate $6 M), Mammoth Resources ($2.6 M) and Defiance Silver (C$11.5 M). ON RESOURCES AND DEVELOPMENT, GR Silver Mining reported drill results from Plomosas, in Sinaloa. Endeavour Silver released high-grade intercepts at Terronera, Jalisco. Advance Gold released (low) lithium drilling results from the Saldivar Salar in San Luis Potosi. GoGold Resources reported drilling results from Los Ricos North in Jalisco. Golden Tag Resources released drilling results from a bulk tonnage target at San Diego, Durango. Golden Minerals reported assay results from expansion drilling at Rodeo, Durango.  ON DEALS AND CORPORATE ISSUES, Millrock Resources and Tocvan Ventures signed a letter of commitment in relation to El Picacho project in Sonora. Telson Mining completed its change name to Altaley Mining. VanGold Mining announced its name change to Guanajuato Mining. ON SOCIAL RESPONSIBILITY, Peñoles and Fresnillo PLC informed on actions the companies realize to help the environment. Mazapil inhabitants evaluated the water quality they receive with Minera Peñasquito support.

ON MEXICO ISSUES

  • The bodies of six of seven miners have been recovered after the collapse of a coal mine in Coahuila.
  • Luisa María Alcalde, head of the Secretariat of Work and Social Prevision informed the mine collapse in Coahuila that caused several fatalities was due to strong rains in the region.

ON EXPLORATION

  • Kootenay Silver Inc. released results from five holes at its Copalito project in Sinaloa. The holes are from the 5 Señores vein, which has now been tested on 600 m of its 1 km known extension. Highlighted core length results comprise 35 m @ 75 gpt Ag, 0.6 gpt Au, 0.1% Pb+Zn (126 gpt AgEq) which include 1.70 m @ 43 gpt Ag, 2.56 gpt Au, 0.8% Pb+Zn (218 gpt Ag) and 1.31 m @ 264 gpt Ag, 0.23 gpt Au, 2.3% Pb+Zn (326 gpt AgEq); 19.43 m @ 218 gpt Ag, 0.83 gpt Au, 1.5% Pb+Zn (306 gpt AgEq) including 7.97 m @ 330 gpt Ag, 1.23 gpt Au, 2.0% Pb+Zn (456 gpt AgEq); 15.0 m @ 61 gpt Ag, 0.75 gpt Au, 0.4% Pb+Zn (119 gpt Ag) including 2.0 m @ 220 gpt Ag, 3.79 gpt Au, 0.4% Pb+Zn (475 gpt AgEq); 12.0 m @ 66 gpt Ag, 0.17 gpt Au, 0.8% Pb+Zn (96 gpt AgEq) including 2.20 m @ 241 gpt Ag, 0.42 gpt Au, 0.8% Pb+Zn (289 gpt AgEq); 10.0 m @ 65 gpt Ag, 0.11 gpt Au, 0.3% Pb+Zn (79 gpt AgEq) including 1.68 m @ 210 gpt Ag, 0.45 gpt Au, 0.4% Pb+Zn (248 gpt AgEq).
  • Minaurum Gold Inc. informed on rig mobilization to its Alamos silver property in Sonora. “Drilling will focus on defining emerging silver shoots in previously explored veins as well as discovering new shoots in underexplored veins. Drill targets will be 100- to 150-metre step-outs of, up- and down-dip, and along-strike of mineralized vein zones, with allowances made for plunging shoots. Minaurum is also continuing reconnaissance work to the south and west in the Alamos project to develop new target veins for later drilling”. Some of the zones to be tested include the Europa-Guadalupe, San José, Minas Nuevas, Alessandra, Ana, Promontorio, Púlpito and Cotera.
  • Comet Resources Ltd. Commenced a 2,000 m diamond drilling program at Santa Teresa, in Baja California. This is the first drilling program since Premier Gold tested the property in 2008.
  • Radius Gold Inc. defined high grade and bulk tonnage targets at its Maricela project in Sonora. Rock chip sampling returned up to 3 m @ 4.46 gpt Au, 1,335 gpt Ag; 22.0 m @ 0.15 gpt Au, 39 gpt Ag; 4 m @ 1.23 gpt Au, 111 gpt Ag at Baby Gloria, 25.3 m @0.31 gpt Au, 62 gpt Ag; 10 m @ 0.62 gpt Au, 142 gpt Ag at Virgen de Plata, 4 m @ 0.45 gpt Au, 98 gpt Ag; 10.5 m @ 0.50 gpt Au, 105 gpt Ag at EL Arco; 6 m @ 1.03 gpt Au, 417 gpt Ag at Central. “The project hosts an epithermal silver & gold mineralized vein system extending approximately 1.5km long by 300m wide, within which occurs multiple veins, stockworks and breccias which at intersections have exposed widths +25 meters. Recent mapping and sampling (273 rock chips) identified 6 major veins with combined strike approximately of 5km”.
  • Silver Spruce Resources Inc. commenced phase II ground exploration at the 1,130 ha Jackie property in Sonora. “The work will be performed on a 100-hectare section of the Property with grid-controlled detailed geological mapping and rock sampling focused on a 25-hectare central block covering the core of the gold and silver discovery area with additional wider spaced grid mapping of the surrounding area”.
  • Tarachi Gold Corp. released results from surface reverse circulation holes drilled on La Dura mine within the Jabali concession at the Tarachi project in Sonora. Highlighted hole-length intervals comprise 3.0 m @ 0.63 gpt Au, 9.0 m @ 0.22 gpt Au, 3.0 m @ 0.37 gpt Au, 3.0 m @ 2.35 gpt Au; 1.50 m @ 1.56 GPT Au; 12.0 m @ 7.26 gpt Au (including 6.0 m @ 12.2 gpt Au); 3.0 m @ 1.68 gpt Au, 12.0 m @ 0.23 gpt Au. “The drill program tested the down-dip and potential southern plunge in areas of known gold bearing structures”. 

ON MINING

  • No relevant news.

ON FINANCING

  • Santacruz Silver Mining Ltd. announced the settling of a debt of C$4.47 M by issuing 10.3 M shares to Empresa Minera Manquiri S.A. and Minas Guilloyna S.A. de C.V. (Zimapan, Hidalgo).
  • Mammoth Resources Corp. closed its previously announced oversubscribed non-brokered private placement financing to raise up to $2.6 M in gross proceeds (Tenoriba, Chihuahua).
  • Silver Viper Minerals Corp. closed the final tranche of its non-brokered private placement for aggregate proceeds of $1.43 M. Aggregate profits under the offering were $6 M (La Virginia, Sonora).
  • Defiance Silver Corp. closed the previously announced brokered private placement for Gross proceeds of C$11.5 M (San Acacio, Zacatecas; Tepal, Michoacan).

ON RESOURCES AND DEVELOPMENT

  • GR Silver Mining Ltd. reported drill results from the Plomosas project in Sinaloa. Highlighted true width (TW) intercepts on the northern portion of the Plomosas mine area of polymetallic hydrothermal breccia comprise 16.2 m @ 75 gpt Ag, 0.25 Au, 0.7% Pb, 0.8% Zn, 0.1% Cu (including 5.8 m @ 171 gpt Ag, 0.41 gpt Au, 1.1% Pb, 0.7% Zn, 0.2% Cu); 7.6 m @ 227 gpt Ag, 0.27 gpt Au, 1.7% Pb, 1.4% Zn, 0.1% Cu; 10.7 m @ 12 gpt Ag, 2.48 gpt Au, 1.1% Pb, 1.5% Zn (including 1.5 m @ 17 gpt Ag, 15.81 gpt Au, 1.1% Pb, 3.9% Zn); 3.6 m @ 100 gpt Ag, 0.14 gpt Au, 0.2% Pb, 1.1% Zn, 0.5% Cu; 21.0 m @ 25 gpt Ag, 0.67 gpt Au, 1.6% Pb, 2.4% Zn, 0.1% Cu).
  • Endeavour Silver Corp. announced high-grade intercepts in a number of structures near the Terronera vein at Terronera, Jalisco. True width intercepts comprise 1.12 m @ 0.32 gpt Au, 170 gpt Ag; 2.14 m @ 3.97 gpt Au, 73 gpt Ag; 5.59 m @ 2.17 gpt Au, 177 gpt Ag; 1.35 m @ 9.78 gpt Au, 214 gpt Ag at San Simón, 1.41 m @ 2.20 gpt Au, 54 gpt Ag; 2.88 m @ 6.05 gpt Au, 1,056 gpt Ag; 1.98 m @ 3.38 gpt Au, 347 gpt Ag; 1.39 m @ 2.04 gpt Au, 66 gpt Ag at Fresno, 1.08 m @ 2.63 gpt Au, 25 gpt Ag at Lindero, 1.08 m @ 1.09 gpt Au, 445 gpt Ag at Pendencia, and 1.95 m @ 9.52 gpt Au, 148 gpt Ag; 1.07 m @ 2.81 gpt Au, 54 gpt Ag at Los Cuates.
  • Advance Gold Corp. announced results from four core holes at its Saldivar Salar in San Luis Potosí. One hole averaged 84 m @ 136 ppm Li (232 ppm peak value), 225 ppm B, 1.3 % K; a second hole averaged 77 m @ 142 ppm Li (229 ppm peak value), 213 ppm B, 1.3% K; a third hole averaged 53 m @ 130 ppm Li (214 ppm peak value), 230 ppm B, 1.2% K; a fourth hole returned 50 m @ 137 ppm Li (231 ppm peak value), 226 ppm B, 1.4% K. 
  • GoGold Resources Inc. released results from drilling on El Orito prospect at it Los Ricos North project in Jalisco. Highlighted core length intersections comprise 9.5 m @ 20 gpt Ag, 0.03 gpt Au, 0.10% Cu, 0.3% Pb, 0.7% Zn; 12.4 m @ 38 gpt Ag, 0.08 gpt Au, 0.23% Cu, 2.1% Pb, 3.8% Zn (including 2.6 m @ 93 gpt Ag, 0.09 gpt Au, 0.61% Cu, 5.3% Pb, 9.9% Zn); 3.0 m @ 222 gpt Ag, 1.93 gpt Au, 0.29% Cu, 2.7% Pb, 0.1% Zn; 44.3 m @ 23 gpt Ag, 0.04 gpt Au, 0.08% Cu, 0.7% Pb, 1.2% Zn (including 4.9 m @ 44 gpt Ag, 0.16 gpt Au, 0.16% Cu, 2.5% Pb, 3.5% Zn); 26.6 m @ 14 gpt Ag, 0.04 gpt Au, 0.07% Cu, 1.1% Pb, 1.3% Zn (including 5.1 m @ 38 gpt Ag, 0.17 gpt Au, 0.20% Cu, 4.5% Pb, 1.9% Zn); 29.4 m @ 36 gpt Ag, 0.06 gpt Au, 0.23% Cu, 2.2% Pb, 4.1% Zn; (including 6.3 m @ 90 gpt Ag, 0.09 gpt Au, 0.65% Cu, 5.2% Pb, 9.5% Zn); 23.0 m @ 61 gpt Ag, 0.08 gpt Au, 0.40% Cu, 2.4% Pb, 4.9% Zn; 58.0 m @ 31 gpt Ag, 0.04 gpt Au, 0.19% Cu, 1.2% Pb, 2.6% Zn. “mineralization averaging approximately 30m in width for more than 700m in strike length and up to approximately 300m in vertical depth from surface and is open in all directions….. The known strike length of the El Orito – El Favor structure is now approaching 2,500 meters and is still open in both directions”.
  • Golden Tag Resources Ltd. released results from a diamond hole at the Trovador zone of its San Diego project in Durango. Highlighted results comprise 8.40 m @ 0.58 gpt Au, 30 gpt Ag, 0.3% Pb, 0.4% Zn, 0.09% Cu; 86.64 m @ 0.03 gpt Au, 39 gpt Ag, 0.9% Pb, 0.6% Zn; 169.83 m @ 0.04 gpt Au, 32 gpt Ag, 0.6% Pb, 0.8% Zn, 0.05% Cu (including 14.47 m @ 0.03 gpt Au, 81 gpt Ag, 1.9% Pb, 2.2% Zn, 0.12% Cu); 116.45 m @ 0.03 gpt Au, 42 gpt Ag, 0.6% Pb, 0.7% Zn; 2.71 m @ 0.05 gpt Au, 97 gpt Ag, 0.5% Pb, 3.1% Zn, 0.35% Cu.
  • Golden Minerals Co. released initial results from its expansion drill program at its Rodeo open pit mine in Durango. Highlighted results comprise 14.65 m @ 3.94 gpt Au, 8 gpt Ag; 9.30 m @ 5.38 gpt Au, 10 gpt Ag; 3.70 m @ 7.02 gpt Au, 21 gpt Ag (including 0.90 m @ 21.09 gpt Au, 50 gpt Ag); 13.75 m @ 2.64 gpt Au, 10 gpt Ag, 6.35 m @ 1.41 gpt Au, 36 gpt Ag; 3.80 m @ 2.69 gpt Au, 26 gpt Ag.
  • GR Silver Mining Ltd. reported drill results from high-grade epithermal veining from La Colorada and San Juan veins at Plomosas, Sinaloa. Highlighted core length intervals comprise 9.0 m @ 710 gpt Ag, 1.82 gpt Au, 1.1% Pb, 0.3% Zn, 0.1% Cu (including 0.7 m @ 8,519 gpt Ag, 18.77 gpt Au, 8.9% Pb, 0.7% Zn, 0.2% Cu); 33.0 m @ 20 gpt Ag, 0.11 gpt Au, 0.5% Pb, 0.3% Zn; 11.1 m @ 139 gpt Ag, 0.69 gpt Au, 0.1% Pb, 0.2% Zn; 7.0 m @ 341 gpt Ag, 1.00 gpt Au, 0.2% Pb, p.6% Zn; 2.1 m @ 480 gpt Ag, 0.05 gpt Au, 0.2% Pb, 0.2% Zn. “The La Colorada vein is a hydrothermal breccia that contains Au-Ag-Pb-Zn values in a mineralized quartz and hematite matrix. It is hosted in andesite and ignimbrite country rock. Sphalerite, galena and acanthite (Ag-bearing mineral) are found in the quartz veins.”.

ON DEALS AND CORPORATE ISSUES

  • Millrock Resources Inc. signed a letter of commitment with Tocvan Ventures Corp. in relation to 2,414 ha El Picacho gold project in Sonora, west of the San Francisco mine. Tocvan must make make cash payments of US$2 M to the underlying concession owners over a five-year term to acquire 100% interest in the project, pay back taxes and Millrock is to retain a 2% NSR, of Which Tocvan may purchase back 1% for US$1 M.
  • Telson Mining Corp. is completing its name change to Altaley Mining Corp. on June 11, 2021 (Campo Morado, Guerrero).
  • VanGold Mining Corp. announced the name change to Guanajuato Mining Corp. to be effective from June 10, 2021 (El Cubo and El Pinguico, Guanajuato).

ON SOCIAL RESPONSIBILITY

  • Peñoles and Fresnillo PLC informed on actions the companies realize to help the environment.
  • Mesas Mazapil inhabitants informed on the supervision they do on the water source delivered by Minera Peñasquito.

On the image below:  Felsic volcanic rocks autobreccia with hematite rich matrix in Sinaloa. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of May, 2021

By Jorge Cirett

During the 21st week of the year (May 24th to May 30th, 2021), at least 33 press releases were announced by companies working in Mexico. To note, seven companies posted exploration advances on their properties, three presented mining related news, seven posted on financing (C$6M, $60 M, C$5 M, C$10 M, $2.6 M, $C$11.5 M) and one on share distribution, six more on project development or resource definition and two posted on corporate issues. ON MEXICO ISSUES, CanCham complained on the lack of clear policies and opacity on the rule of law that are affecting Canadian investments in Mexico.  The push from the Mexican government to create an institution to manage the lithium industry from the optics of sovereignty sees opposition from the mining industry, and reality. Camimex released a list of mining investments to be realized in the next few years, amounting to several billion dollars. ON EXPLORATION, in Sonora, Ridgestone Mining applied for drilling permits at Rebeico. Tocvan Ventures released results from drilling at Pilar. In Chihuahua, Kootenay Silver released high-grade results from drilling at Columba. In Durango, Mithril Resources, updated on drilling at Copalquin. In Sinaloa, Riverside Resources released surface sample results; Vizsla Silver informed on geophysical results supported by drilling, and more surveys to come; Brigadier Gold discovered bulk tonnage copper mineralization in trenching of soil anomalies. ON MINING, Impact Silver and Telson Mining presented Q1 2021 results. Magna Gold informed it has exceeded 3 M man-hours of work without lost-time incidents. ON FINANCING, Silver Bull Resources is to distribute 34.2 M shares of Arras Minerals among its shareholders. Six companies informed on financing rounds: Silver Viper Minerals (C$6 M), Vizsla Silver ($60 M), Reyna Silver (C$5 M), Sable Resources (C$10M, Defiance Silver (C$11.5 M) and Mammoth Resources ($2.58 M). ON RESOURCES AND DEVELOPMENT, Prime Mining released drilling results from Los Reyes. GR Silver Mining reported near surface drill results from Plomosas. GoGold Resources released drilling results from the Casados deposit at Los Ricos North. Discovery Silver released results from 12 drill holes targeting high-grade vein trends at Cordero. Sailfish Royalty filed a technical report with a new resource estimate for Gavilanes. Discovery Silver updated on exploration at Cordero, with 75,000 m of drilling completed on 178 holes, and four drills continuing the phase 2 program. Golden Tag announced the discovery of a shallow zone of epithermal mineralization at San Diego.   ON DEALS AND CORPORATE ISSUES, Mexus Gold informed Fresnillo PLC is reviewing its Santa Elena mine. Riverside Resources announced BHP is funding a third year of generative work in Sonora. ON SOCIAL RESPONSIBILITY, Peñoles and Fresnillo PLC informed on their policies and programs to aid in education on a wide range of communities. Minera San Xavier informed Cerro San Pedro in San Luis Potosi has been declared as “Cyanide Free Site” by the International Cyanide Management Institute.

ON MEXICO ISSUES

  • CanCham (Cámara de Comercio de Canadá en México) pointed out that the lack of clear policies and the opacity on rule of law is affecting Canadian investments, which show an 18% decrement in the last year, holding the investment of thousands of millions (Mexican number notation) of dollars in the energy, mining, pharmaceutical and agricultural sectors. These remarks were expressed by Enrique Zorrilla, Cancham’s president, in the meeting between the Commerce ministers of Mexico, Canada and the United States.
  • Mexico is preparing its strategy to develop the lithium market. The federal government intends to become a lithium producer by controlling several deposits, Bolivia’s advice and a commerce treatise to facilitate establishing an electric battery factory. The current government senate fraction is preparing a proposal to create the Instituto Nacional del Litio. (Lithium National Institute) and to declare lithium as Nation’s exclusive property (Note. – This federal initiative push misses the point that so far there is not a single lithium mine in Mexico, that its lithium in brines potential is limited at best, and that the economics of lithium extraction from clays -like in the Bacanora Lithium’s deposit in Sonora- is not yet clear).
  • Fernando Alanís, president of Camimex (Cámara Minera de México) informed that lithium deposits in Mexico have a very low grade, and lack the technology for its extraction, reason for which the country is far from becoming a world power in lithium production. Lithium presents in three kind of deposits: hard rock (pegmatites), brines (from salt lakes) and clays. Rock and brine lithium extraction accounts for 100% of the world production, whereas the extraction of lithium from clays is very energy intensive and expensive, not having a single producing mine in the entire planet.
  • Camimex released a table with the Mexican Mining Developments programmed for the next few years, same that reach US$7,820 Million in investment (Mexican number notation, equivalent to US$7.8 billion).

ON EXPLORATION

  • Mithril Resources Ltd. provided an update on drilling at its Copalquin project in Durango. The current program main focus is to extend the Refugio ore shoot down dip (presently 600 m along strike, 200 m down dip, 5 m in width), maiden drilling at Los Pinos target, extend three holes and deep exploration drilling at La Soledad and extend near-surface intercepts at El Cometa.
  • Ridgestone Mining Inc. commenced permitting for drill programs at Guadalupe y Calvo, Chihuahua, and Rebeico, Sonora.
  • Riverside Resources Inc. reported surface sample results from its La Silla project in Sinaloa. The highlighted samples from the El Ciruelo and El Roble targets returned 6.1 gpt Au, 80 gpt Ag; 5.6 gpt Au, 81 gpt Ag; 4.4 gpt Au, 35 gpt Ag; 3.5 gpt Au, 26 gpt Ag; 3.3 gpt Au, 20 gpt Ag; 2.6 gpt Au, 41 gpt Ag, on quartz veining, gossanous breccia and strongly oxidized andesite. El Ciruelo target extends for at least 1 km with a 1-5 m wide chalcedonic vein zone. El Roble vein extends for at least 300 m, reaching up to 2 m in width, with mineralization occurring also in the host rock.
  • Vizsla Silver Corp. provided an update on the recently completed geophysical survey completed at Panuco, in Sinaloa. A fixed loop electromagnetics (FLEM, or EM) was trialed and detected massive sulfide mineralization on the Napoleon and Josephine veins, proved with three massive sulfide intercepts in the latter. The Josephine vein has no known surface expression and runs parallel to the west of the main Napoleon trend. Mineralization at Tajitos is not related to massive sulfides and was not detected with EM. Vizsla is planning a property wide airborne EM-magnetic survey at Panuco.
  • Kootenay Silver Inc. announced high-grade results from the 5,000 m core drill program currently underway at Columba, Chihuahua. Highlighted core length intervals in the Hanging-Wall, F, and Footwall veins comprise 1.55 m @ 189 gpt Ag, 0.1%Pb, 0.2% Zn; 1.0 m @ 104 gpt Ag, 0.1% Zn; 2.44 m @ 217 gpt Ag, 0.1% Pb, 0.1% Zn; 2.94 m @ 321 gpt Ag, 0.2% Pb, 0.6% Zn (including 1.94 m @ 428 gpt Ag, 0.3% Pb, 0.7% Zn); 8.0 m @ 130 gpt Ag, 0.1% Pb, 0.2% Zn (including 2.9 m @ 265 gpt Ag, 0.1% Pb, 0.5% Zn); 1.95 m @ 104 gpt Ag, 0.1% Pb, 0.1% Zn; 9.0 m @ 354 gpt Ag, 0.1% Pb, 0.4% Zn (including 2.63 m @ 809 gpt Ag, 0.3% Pb, 0.4% Zn); 30.0 m @ 86 gpt Ag (including 2.37 m @ 425 gpt Ag, 0.2% Zn).
  • Brigadier Gold Ltd. announced the discovery of bulk tonnage type copper mineralization at its Picachos project in Sinaloa. Fifty meters on trenching of historic copper anomalies has returned XRF copper values ranging from 0.05 to 1.34% Cu and 20 to 284 ppm Ag. Brigadier has also completed mapping and sampling of the historic La Gloria mine, where a drill hole intercepted 1.0 m @ 6.26 gpt Au.
  • Tocvan Ventures Corp. released results for the first three holes of its phase-II drill program at Pilar, in Sonora. The drill program consists of 2,900 m of reverse circulation drilling in 17 holes, of which 14 are pending results. Highlighted down-hole intercepts comprise 29 m @ 0.71 gpt Au (including 6.1 m @ 1.9 gpt Au); 24.4 m @ 0.56 gpt Au (including 9.2 m @ 1.3 gpt Au, 14 gpt Ag); 6.1 m @ 0.48 gpt Au, 4 gpt Ag; 4.6 m @ 0.50 gpt Au, 11 gpt Ag.

ON MINING

  • Impact Silver Corp. presented its financial and operating results of Q1 2021. During the period 36.4 K tonnes were processed @ 162 gpt Ag to produce 156.9 K Oz Ag. “continued exploration on the north and south extensions of the Veta Negra Mine, trenching on the bulk tonnage gold target at Manto America in the central part of the district and exploration on the northwest (Pachuqueno) extensions of the Guadalupe Mine”.
  • Magna Gold Corp. has exceeded 3 M man-hours of work without lost-time incidents within all its operations, including contractors and suppliers. The last lost-time incident was in 2018, and the mine has not had a fatal accident in its 11 years history.
  • Telson Mining Corp. presented its first quarter 2021 financial and operating results. At Campo Morado in Guerrero, 174.4 K tonnes were processed to produce 11,013 tonnes Zn (74% Zn recovery), 1,908 tonnes Pb at cash cost $0.70 per Lb Zn and AISC of $0.90 per Lb Zn. During the period gross revenue was $21.2 M (Q1 2020: $19.0 M) and mine operating profit $5.25 M (Q1 2020: $0.26 M loss).

ON FINANCING

  • Silver Bull Resources Inc. announced its intent to distribute 34.2 M shares of Arras Minerals Corp. to Silver Bull shareholders. Silver Bull transferred mineral properties in Kazakhstan and received 36 M shares of Arras in return, making Arras an approximately 88%-owned subsidiary of Silver Bull (Sierra Mojada, Coahuila).
  • Silver Viper Minerals Corp. intends to undertake a non-brokered private placement financing to raise aggregate gross proceeds of up to C$6 M (La Virginia, Sonora).
  • Vizsla Silver Corp. entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters to buy units of the company for gross proceeds of $60 M (Panuco, Sinaloa).
  • Reyna Silver Corp. entered into an agreement with Eight Capital and Red Cloud Securities Inc. in connection with a private placement intended to raise up to C$5 M (Guigui and Batopilas, Chihuahua).
  • Sable Resources Ltd. entered into an agreement with Sprott Capital Partners LP and Eight Capital in connection with a bought deal private placement financing to raise up to C$10 M (Vinata, Chihuahua).
  • Mammoth Resources Corp. Announced a non-brokered private placement financing aiming to raise up to $2 M, same that by the next day had been increased to $2.58 M (Tenoriba, Chihuahua).
  • Defiance Silver Corp. has increased the size of its previously announced private placement with Red Cloud Securities Inc. for gross proceeds of up to C$11.5 M (Bolañitos and Pinguico, Guanajuato).

ON RESOURCES AND DEVELOPMENT

  • Prime Mining Corp. released additional results from its ongoing 15,000 m drill program at Los Reyes, Sinaloa. The Highlighted true width intercepts are from the Guadalupe East, Zapote South and the Estaca vein: 11.6 m @ 8.12 gpt Au, 725 gpt Ag; 5.6 m @ 11.95 gpt Au, 1,221 gpt Ag; 2.1 m @ 21.63 gpt Au, 1,960 gpt Ag; 2.0 m @ 11.17 gpt Au, 909 gpt Ag; 2.4 m @ 2.00 gpt Au, 121 gpt Ag; 1.4 m @ 10.50 gpt Au, 300 gpt Ag; 3.9 m @ 0.45 gpt Au, 37 gpt Ag; 0.6 m @ 93.80 gpt Au, 829 gpt Ag.
  • GR Silver Mining Ltd. reported near surface drill results from the Plomosas mine area in Sinaloa. Highlighted true width intervals comprise 11.9 m @ 84 gpt Ag, 2.3% Pb, 2.7% Zn, 0.1% Cu; 16.7 m @ 7 gpt Ag, 0.22 gpt Au, 0.1% Pb, 0.3% Zn; 10.8 m @ 3 gpt Ag, 0.20 gpt Au, 0.1% Pb, 0.4% Zn; 4.2 m @ 10 gpt Ag, 0.09 gpt Au, 0.1%Pb, 0.6% Zn, 0.1% Cu; 2.1 m @ 350 gpt Ag, 1.0% Pb, 0.4% Zn; 1.9 m @ 348 gpt Ag, 0.3% Pb, 0.3% Zn; 1.3 m @ 26 gpt Ag, 0.19 gpt Au, 3.3% Pb, 3.3% Zn; 1.0 m @ 128 gpt Ag, 1.00 gpt Au, 9.0% Pb, 9.7% Zn, 0.2% Cu; 2.6 m @ 45 gpt Ag, 0.60 gpt Au, 3.0% Pb, 0.9% Zn; 4.7 m @ 187 gpt Ag, 0.18 gpt Au, 2.2% Pb, 1.2% Zn, 0.1% Cu; 2.0 m @ 277 gpt Ag, 0.22 gpt Au, 0.2% Pb, 0.4% Zn; 1.9 m @ 283 gpt Ag, 0.82 gpt Au, 0.3% Pb, 1.0% Zn, 0.1% Cu.
  • GoGold Resources Inc. released results of nine holes on the Casados deposit at the Los Ricos North project in Jalisco. Highlighted core length intersects comprise 29.9 m @ 0.25 gpt Au, 70 gpt Ag; 15.5 m @ 0.27 gpt Au, 67 gpt Ag; 34.4 m @ 0.17 gpt Au, 67 gpt Ag; 5.3 m @ 0.65 gpt Au, 305 gpt Ag; 9.2 m @ 0.24 gpt Au, 109 gpt Ag (including 1.9 m @ 0.61 gpt Au, 442 gpt Ag); 60.5 m @ 0.21 gpt Au, 44 gpt Ag; 2.1 m @ 0.57 gpt Au, 322 gpt Ag; 54.1 m @ 0.37 gpt Au, 92 gpt Ag; 28.5 m @ 0.43 gpt Au, 100 gpt Ag (including 1.8 m @ 2.09 gpt Au, 418 gpt Ag); 14.0 m @ 0.46 gpt Au, 134 gpt Ag (including 5.3 m @ 1.04 gpt Au, 304 gpt Ag); 2.6 m @ 2.93 gpt Au, 610 gpt Ag.
  • Discovery Silver Corp. released results from 12 diamond drill holes testing the Josefina and Todos Santos high-grade vein trends at the Cordero project in Chihuahua. Highlighted intercepts on the Josefina vein trend comprise 41.5 m @ 97 gpt Ag, 0.04 gpt Au, 1.0% Pb, 2.5% Zn (including 4.1 m @ 520 gpt Ag, 0.11 gpt Au, 3.0% Pb, 9.8% Zn and 3.3 m @ 182 gpt Ag, 0.09 gpt Au, 3.4% Pb, 7.1% Zn); 13.1 m @ 112 gpt Ag, 0.13 gpt Au, 1.3% Pb, 2.2% Zn; 36.4 m @ 66 gpt Ag, 0.10 gpt Au, 0.3% Pb, 1.0% Zn; 87.4 m @ 38 gpt Ag, 0.06 gpt Au, 0.2% Pb, 1.0% Zn; 3.6 m @ 343 gpt Ag, 0.11 gpt Au, 1.7% Pb, 2.7% Zn; 19.3 m @ 40 gpt Ag, 0.06 gpt Au, 0.7% Pb, 1.4% Zn); 22.4 m @ 156 gpt Ag, 0.10 gpt Au, 1.7% Pb, 2.3% Zn (including 3.7 m @ 299 gpt Ag, 0.16 gpt Au, 3.9% Pb, 5.7% Zn). The Josefina vein trend includes two subparallel veins that run for 1.5 km, and has been tested to 370 m depth and remains open. The Todos Santos vein trend consists of two closely spaced veins, extends for at least 1.5 km along strike and 400 m of depth in old workings and drill holes. Highlighted intercepts comprise 62.0 m @ 19 gpt Ag, 0.28 gpt Au, 0.1% Pb, 2.0% Zn; 21.4 m @ 46 gpt Ag, 0.07 gpt Au, 0.8% Pb, 1.3% Zn; 1.9 m @ 113 gpt Ag, 0.04 gpt Au, 2.4% Pb, 3.2% Zn; 3.7 m @ 96 gpt Ag, 0.07 gpt Au, 1.8% Pb, 3.0% Zn; 2.1 m @ 160 gpt Ag, 0.27 gpt Au, 3.3% Pb, 3.6% Zn.
  • Sailfish Royalty Corp. filed a NI-43-101 technical report and estimate of mineral resources for the Gavilanes project in Durango.
  • Discovery Silver Corp. updated on its Cordero project in Chihuahua and informed that by the end of the first quarter 2021 had cash and cash equivalents for $94.7 M. At Cordero 75,000 m of drilling were completed in 178 holes in phase 1 drilling, providing information to be used in the bulk-tonnage preliminary economic assessment (PEA) underway. Phase 2 drilling continues with four rigs, focused on reserve definition, resource expansion and high-grade vein delineation. Bulk tonnage targeted drilling has returned up to 128.2 m @ 65 gpt Ag, 0.05 gpt Au, 1.2% Pb, 1.3% Zn; 131.6 m @ 48 gpt Ag, 0.09 gpt Au, 0.5% Pb, 1.1% Zn (including 37.1 m @ 119 gpt Ag, 0.22 gpt Au, 1.0% Pb, 1.2% Zn); 110.0 m @ 37 gpt Ag, 0.04 gpt Au, 0.8% Pb, 1.0% Zn; 85.6 m @ 53 gpt Ag, 0.05 gpt Au, 1.4% Pb, 1.7% Zn. Drilling on high-grade veins has returned up to 4.1 m @ 520 gpt Ag, 0.11 gpt Au, 3.0% Pb, 9.8% Zn in the Josefina vein; 4.0 m @ 377 gpt Ag, 0.28 gpt Au, 7.1% Pb, 3.4% Zn in the Todos Santos vein and 4.4 m @ 246 gpt Ag, 0.39 gpt Au, 6.5% Pb, 0.4% Zn on the Parcionera vein.
  • Golden Tag Resources Ltd. discovered a new zone of epithermal mineralization at the San Diego project in Durango. The new drill hole intercepted 10.0 m @ 0.55 gpt Au, 628 gpt Ag, 1.1% Pb, 3.6% Zn, 0.12% Cu, in a zone where previous drilling had returned 2.0 m @ 0.33 gpt Au, 161 gpt Ag, 0.3% Pb, 0.2% Zn, 0.04% Cu; 3.75 m @ 0.32 gpt Au, 125 gpt Ag, 1.5% Pb, 4.0% Zn, 0.12% Cu. “The hole intersected a series of epithermal breccias and quartz-carbonate veins within the Central Diorite intrusion from 73.0 to 92.70 m which are characterized by cavity filling banded quartz and carbonate veins with fluorite and associated sulfides comprised primarily of pyrite, sphalerite, galena, boulangerite, and arsenopyrite”.

ON DEALS AND CORPORATE ISSUES

  • Mexus Gold US. informed personnel from Fresnillo PLC is reviewing its Santa Elena mine in Sonora. The geologists are checking the potential for a disseminated deposit, as well as the quartz vein currently worked by Mexus.
  • Riverside Resources Inc. announced BHP and Riverside “have agreed on moving forward with a third year of generative funding for copper exploration in Sonora. The new budget is US$1.3 M for generative exploration work.

ON SOCIAL RESPONSIBILITY

  • Peñoles and Fresnillo PLC informed on their policies and programs to aid on education in a widespread communities.
  • Minera San Xavier has been declared as “Cyanide Free Site” by the International Cyanide Management Institute. Cerro San Pedro is the first mine in the world that has realized the dismantling process of the 110 m high heap that covers 102 hectares (1 square kilometer).

Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group. On the image below:  Quartz-tourmaline breccia from a project in Sinaloa. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the First Week of May, 2021.

Quartz vein displaying boiling texture.

By Miguel A Heredia

During the 18th week of the year (May 3th to May 9th, 2021), at least 39 press releases were announced by companies working in Mexico, with ten communicating production results, ten disclosing deals and corporate issues, eight informing on exploration results, six reporting on resources and development, and five announcing financial rounds.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Benjamin Hill Mining released additional sampling results from its Benjamin Hill property, Tocvan and its partner Colibri reported results of preliminary metallurgical testing from the El Pilar project, Tarachi presented drilling results from three holes collared at its La Dura mine, and Silver Spruce engaged Eagle Mapping to run a LiDAR survey at its Diamante project . In Chihuahua, Kootenay presented results from six holes drilled at its Columba project.  In Sinaloa, Brigadier announced drilling and rock sampling results from its Picachos property. In Durango, Mithril reported that it continues intersecting high-grade mineralization at El Refugio zone, within its Copalquin project.  ON MINING, Argonaut reported Q1, 2021 production and financial results from its Mexican mine operations. Equinox announced consolidated Q1, 2021 production and financial results from all their mine operations, including Los Filos and Mercedes mines in Guerrero and Sonora states respectively. Golden Minerals reported Q1, 2021 production and financial results from its Rodeo mine in Durango. First Majestic released Q1, 2021 production and financial results from its Mexican mine operations. Gatos Silver announced Q1, 2021 production and financial results from its Los Gatos property in Chihuahua. Great Panther presented Q1, 2021 production and financial results from its Topia and Guanajuato mines. McEwen reported the production of 1,300 Oz AuEq (GEOs) from residual leaching at El Gallo mine in Sinaloa during the first quarter of 2021. Mexus announced a successful blast at its Santa Elena mine in Sonora to produce approximately 10-15K tonnes of mineralized material. Santacruz reported consolidated 2020 full year production and financial results from its Mexican operations.  Sierra Metals announced Q1, 2021 production results from its Bolivar and Cusi mines in Chihuahua. ON FINANCING, Advance Gold granted stock options to its Directors, key employees, and consultants entitling them to purchase, in total, up to 1.8M options over a five year term (Tabasquena project, Zacatecas). Capitan Mining closed a non-brokered private placement for gross proceeds of CAD $3.2M (Peñoles property, Durango). GoGold closed a bought deal offering of 10M common shares for gross proceeds of CAD $25M (Los Ricos property, Jalisco). Heliostar closed a brokered private placement for gross proceeds of $5.6M (Cumaro project, Sonora). Telson informed that it has received the initial USD $2M proceeds from the total USD $5M silver stream agreement with Empress Royalty (Tahuehueto project, Durango). ON RESOURCES AND DEVELOPMENT, Endeavour intersected high-grade silver-gold mineralization at the Guanacevi mine in Durango. Zacatecas Silver announced it will commence a 10,000m drilling program at its Panuco silver project in Zacatecas, once it received the final drill permit. Golden Tag identified mineralized skarn shoots 265m above the current Fernandez Zone resource envelope at its San Diego property in Durango. GR Silver reported results from its ongoing drilling program at its Plomosas project in Sinaloa. VanGold provided initial results from its ongoing diamond drill program at its El Pinguico project in Guanajuato. Silver Viper released a maiden Au-Ag mineral resource estimate at its la Virginia project in Sonora.   ON DEALS AND CORPORATE ISSUES, Advance Gold appointed a new member to its Board of Directors (Tabasquena property, Zacatecas). Equinox announced results from its annual general meeting of shareholders (Los Filos mine, Guerrero). Great Panther announced the nomination of two new directors for election to its Board of Directors at its annual general meeting to be held on June 9, 2021 (Topia mine, Durango).  One World Lithium announced the engagement of an European consultant that may include individual introduction and corporate presentations (Salar del Diablo project, Baja California). Colibri signed a definitive deal with Silver Spruce on Diamante Gold and Silver project in Sonora.   GR Silver made the final option payment to SSR Mining to close the acquisition of 100% interest of San Marcial Silver project in Sinaloa. Magna Gold announced that it has made the final payment for the acquisition of its San Francisco mine in Sonora. Oroco entered into an agreement to increase its interest on Santo Tomas property in Sinaloa. Orogen provided an update about the royalty on the Ermitaño property in Sonora. Chinas’ Ganfeng Lithium said it has offered to buy the shares it does not already own in Mexico-focused Bacanora Lithium for up to 190M pounds (USD $264.5M).  ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Benjamin Hill Mining Corp., released additional sampling results from its Benjamin Hill property, in Sonora state, which comprises Sonora Gold and Sonora Copper concessions. A total of 447 chip/channel samples were collected during March and April, 2021 returning encouraging results with multiple samples ranging from 4 to 8 g/t Au, with a peak of 31.4 g/t Au.  The company has extended the mineralized structure for over 500m to the north-west, increasing the length of the mineralized structure now to 2,400m. “Fifty-nine samples returned gold values over 2 g/t Au with eight samples ranging from 7.5 g/t Au to 31.4 g/t Au. Nine samples taken from the Caracahui vein returned copper values over 1.0% with three samples above 2% and the best sample returning an impressive 8.3% Cu”. Geologists were also able to identify a large area of disseminated gold ranging from 350m to 600m in width. The company is planning to commence a drill testing program. It has already applied for drill permits and expects to receive permits within the next several weeks.
  • Tocvan Ventures Corp., and its partner Colibri Resource Corporation reported results of preliminary metallurgical testing from the El Pilar project in Sonora, which includes Au recoveries of 91.6% and 90.6% at a retention time of 48 hours from two composite samples collected from drill hole JES-20-32.
  • Tarachi Gold Corp., presented drilling results from three underground holes collared at its La Dura mine in Sonora. Significant drill intercepts were encountered in hole JAB-21-009 with 6.91 g/t Au over 63.4m, including 17.42 g/t Au over 9.3m, plus another interval with 17.37 g/t Au over 13.9m, including 33.66 g/t Au over 5.6m; and hole JAB-21-10 with 1.79 g/t Au over 42m. These drill results confirm the continuation of gold mineralization down-dip towards the east. “Based on the drilling and mapping done to date, gold is hosted in a 10-20m thick panel of heavily silicified rhyodacite striking roughly north-south, dipping to the east at an approximate angle of 30 and plunging to the south at 25°”.
  • Silver Spruce Resources Inc., engaged Eagle Mapping to run a LiDAR survey at its Diamante project in Sonora. “The LiDAR mapping over the property will provide another value-added 3D element to complement the geological and structural mapping, and enhance the topographic control for the Phase 1 drilling program”.
  • Kootenay Silver Inc., presented results from six holes drilled at its Columba project in Chihuahua. Significant drill intercepts were encountered in hole CDH-21-90 with 503 g/t Ag, 0.1% Pb, and 0.2% Zn over 1.2m, including 889 g/t Ag, 0.2% Pb, and 0.4% Zn over 0.55m, and 185 g/t Ag, 0.1% Pb, and 0.2% Zn over 3.94m, including 245 g/t Ag, 0.1% Pb, and 0.3% Zn over 2.4m, including 365 g/t Ag, 0.2% Pb, and 0.6% Zn over 0.6m; hole CDH-21-89 with 285 g/t Ag, 0.2% Pb, and 0.8% Zn over 6.9m, including 439 g/t Ag, 0.3% Pb, and 1.5% Zn over 0.27m, including 533 g/t Ag, 0.3% Pb, and 1.2% Zn over 0.65m, and other interval of 233 g/t Ag, 0.03% Pb, and 0.4% Zn over 4m, including 411 g/t Ag, 0.03% Pb, and 0.05% Zn over 1m; and hole CDH-21-87 with 200 g/t Ag over 4m, including 559 g/t Ag over 1.09m.
  • Brigadier Gold Limited, announced drilling and rock sampling results from its Picachos property located in Sinaloa. Hole DH-BGR-043 encountered 0.52 g/t Au, 5 g/t Ag, and 0.07% Cu over 14.5m, including 7.63 g/t Au, 11 g/t Ag, and 0.26% Cu over 0.5m. Brigadier has completed 4,538m in 43 holes to date. On the other hand, Brigadier continues mapping and sampling prospects and workings in the entire property. Encouraging results were obtained from El Placer Norte with samples returning 12.79 g/t Au and 8 g/t Ag over 1m wide, and 38.88 g/t Au and 22 g/t Ag over 0.5m. At El Cobre area, located about 650m NW of El Placer Norte area, the rock sampling returned 57 g/t Ag, 2.12% Cu, and 0.12% Pb over a width of 1.7m from the El Cobre Vein; 108 g/t Ag, 3.2% Cu, and 0.5% Pb over a width of 0.5m from El Herrero Vein; and 148 g/t Ag, 0.33% Cu, and 0.26% Pb over a width of 0.7m from the Calzada Vein.
  • Mithril Resources Ltd., reported that it continues intersecting high-grade mineralization at El Refugio zone, within its Copalquin project.  Highlights include hole CDH-63 with  5.32 g/t Au, 105 g/t Ag over 8m, including 29.9 g/t Au and 273 g/t Ag over 1.09m; hole CDH-62 with 4.12 g/t Au and 107 g/t Ag over 4.82m, including 7.94 g/t Au and 211 g/t Ag over 1.6m, plus 4.68 g/t Au and 22 g/t Ag over 2.1m, plus 0.48 g/t Au and 36 g/t Ag over 3.1m; and hole CDH-61 with 0.95 g/t Au and 25 g/t Ag over 7.75m, plus 0.95 g/t Au and 10 g/t Ag over 0.95m, plus 1.44 g/t Au and 76 g/t Ag over 15.77m. The drill results extended the high-grade mineralization 80m down dip and 180m further to the west and up to further 75m down dip. El Refugio continues to grow as a large high-grade Au-Ag target.

ON MINING

  • Argonaut Gold Inc., reported Q1, 2021 production and financial results from its Mexican mine operations. At El Castillo Complex in Durango The company milled 5,274,000 tons of 0.28 g/t Au to produce 29,243 Oz Au and 164,226 Oz Ag (31,175 AuEq Oz (GEOs)). Argonaut reduced the cash cost per Oz Au sold to USD $916. At La Colorada in Sonora , Argonaut mined 1,227,000 tonnes of 0.54 g/t Au to produce 15,894 Oz Au and 52,912 Oz Ag (16,516 GEOs). It reduced the cash cost per Oz Au sold to USD $765. The company also announced the discovery of  high-grade gold veins below  the El Crestón open pit which returned 44.6 g/t Au and 275 g/t Ag over 21.3m, including 98.9 g/t Au and 30 g/t Ag over 12.2m.
  • Equinox Gold Corp., announced consolidated Q1, 2021 production and financial results from all their mine operations, including Los Filos and Mercedes mines in Guerrero and Sonora states respectively. The company produced 129,233 Oz Au and sold 128,555 Oz Au at cash and AISC of USD $1,141 and USD $1,482 per Oz Au respectively. The company reported revenues of USD $229.7M, net income of USD $50.3M, adjusted EBITDA of USD $60.5M, cash and cash equivalents of USD $317.5M, net debt of USD $2290.8M, and operating cash flow before changes in non-cash working capital of USD $62M. Equinox also provided a 2021 production guidance of 600K to 665K Oz Au, of which 170K-190K will be produced at its Los Filos mine in Guerrero and 30K to 35K Oz Au, will be produced at its Mercedes mine in Sonora.
  • Golden Minerals Company reported Q1, 2021 production and financial results from its Rodeo mine in Durango. It produced 1,559 Oz AuEq in doré and sold 1,054 Oz AuEq. Golden reported revenue of USD $1.8M, cost of metals sold of USD $1.5M, and net operating margin of USD $0.2M.The company also reported cash and cash equivalents balance of USD $ 8M as of March 31, 2021, and a net loss of USD $3.2M.
  • First Majestic Silver Corp., released Q1, 2021 production and financial results from its Mexican mine operations. The table below shows figures by mine:

First Majestic reported revenues of USD $100.5M, mine operating earnings of USD $28.1M, net earnings of USD $1.9M, and a strong working capital of USD $232.8M, including USD $65M of undrawn revolving credit facility.

  • Gatos Silver Inc., announced Q1, 2021 production and financial results from its Los Gatos property in Chihuahua. Gatos mined 209,832 tonnes to produce 6,312 tonnes of Pb concentrates with grades of 6,314 g/t Ag, 5.6 g/t Au, 54.8% Pb, and 12.9% Zn, and 7,036 tonnes of Zn concentrate of 757 g/t Ag, 0.6 g/t Au, 1.4% Pb, and 55.2% Zn, to recover 1.5M Oz Ag, 1.1K Oz Au, 7.6M Lb Pb, and 8.6M Lb Zn, at an AISC cost, net of by-product credits of $19.76 per Oz Ag, which includes approximately $2.50 per Oz Ag related to non-recurring costs attributed to COVID-19 and lower produced ounces related to the power outage experienced earlier in the year. Gatos reported sales for $46.3M, operating expenses of $35.5M, other expenses of $3.9M, and net income of $6.9M.
  • Great Panther Mining Limited presented Q1, 2021 production and financial results from its Topia and Guanajuato mines. At Guanajuato mine complex, Guanajuato, it mined 40,321 tonnes and milled 39,665 tonnes of 124 g/t Ag and 1.53 g/t Au to produce 135,737 Oz Ag and 1,689 Oz Au (279,306 Oz AgEq) at cash and AISC of $22.57 and $33.42 per payable Oz Ag respectively. At Topia, Durango,  the company  mined 16,654 tonnes and milled 19,004 tonnes of 398 g/t Ag, 0.87 g/t Au, 2.93% Pb, and 3.6% Zn to produce 224,333 Oz Ag, 293 Oz Au, 1.18M Lb Pb, and 1.39M Lb Zn (363,318 Oz AgEq) at cash and AISC of $15.88 and $18.71 per payable Oz Ag respectively.
  • McEwen Mining Inc., reported the production of 1,300 Oz AuEq (GEOs) from residual leaching at El Gallo mine in Sinaloa during the first quarter of 2021.  Operations were disrupted for three weeks by a blockade of the mine entrance by members of the local community, which has been resolved.
  • Mexus Gold US announced a successful blast in the Quartz 2 vein area at its Santa Elena mine in Sonora to produce approximately 10-15K tonnes of mineralized material. The company believes this material will show between 2 to 4 g/t Au average.
  • Santacruz Silver Mining ltd., reported consolidated 2020 full year production and financial results from its Mexican operations. The company processed 201,585 tonnes to produce 1M Oz AgEq at cash and AISC of $23.04 and $24.41 per Oz AgEq respectively. The company sold 662.5K Oz AgEq. The company recorded revenues of $33,097 and a net loss of $1,493.
  • Sierra Metals Inc., announced Q1, 2021 production results from its Bolivar and Cusi mines in Chihuahua. At Bolivar mine, the company processed 371,608 tonnes of 0.19 g/t Au, 20 g/t Ag, and 0.77% Cu to produce 1,591 Oz Au, 197K Oz Ag, and 5.2M Lb Cu 7.28M Lb CuEq), at a cash and AISC of USD $1.58 and USD $2.91 per Lb CuEq respectively. At Cusi mine, Sierra Metals processed 76,602 tonnes of 0.16 g/t Au, 157 g/t Ag, and 0.2% Pb to produce 155 Oz Au, 313K Oz Ag, and 268K Lb Pb (334K Oz AgEq), at cash and AISC of USD $18.72 and USD $30.28 per Oz AgEq respectively.

ON FINANCING

  • Advance Gold Corp., granted stock options to its Directors, key employees, and consultants entitling them to purchase, in total, up to 1.8M options over a five year term expiring May 2025 at an exercise price of $0.08 per share.  (Tabasquena property, Zacatecas).
  • Capitan Mining Inc., closed a non-brokered private placement for gross proceeds of CAD $3.2M. Gross proceeds will be used to advance exploration and corporate development activities at its Peñoles property in Durango.
  • GoGold Resources Inc., closed a bought deal offering of 10M common shares at a price of CAD $2.50 per common share for gross proceeds of CAD $25M. Underwriters of the offering exercised their overallotment option in full for an additional 1.5M common shares for gross proceeds of approximately CAD $3.75M.  The net proceeds of the offering will be used to support the continued advancement of the Company’s Los Ricos North and South projects in Jalisco and for general corporate purposes.
  • Heliostar Metals Limited closed a brokered private placement for gross proceeds of $5.6M. Part of the gross proceeds will be used to advance Cumaro, Lola and Oso Negro projects in Sonora, as well as for working capital and general corporate purposes. 
  • Telson Mining Corporation informed that it has received the initial USD $2M proceeds from the total USD $5M silver stream agreement with Empress Royalty for its Tahuehueto project in Durango. The stream is part of a USD $25M full financing solution being provided by Empress, Accendo Bank and Endeavour Financial.

ON RESOURCES AND DEVELOPMENT

  • Endeavour Silver Corp., intersected high-grade silver-gold mineralization to expand the El Curso orebody at its Guanacevi mine in Durango. Significant drill interceptions were encountered in hole UCM-48 with 3.27 g/t Au and   2,753 g/t Ag (2,982 g/t AgEq) over a true width (TW) of 4.1m, including 0.6 g/t Au and 18,752 g/t Ag (18,794 g/t AgEq) over a TW of 0.3m; and hole UCM-50 with 4.29 g/t Au and 3,464 g/t Ag (3,764 g/t AgEq)  over a TW of 2.6m, including 25.7 g/t Au and 19,390 g/t Ag (21,189 g/t AgEq) over a TW of 0.3m. The Company is currently producing from three orebodies at Guanacevi: Milache, El Curso and SCS.  Exploration drilling is ongoing at El Curso and SCS.
  • Zacatecas Silver Corp., announced it will commence a 10,000m drilling program at its Panuco silver project in Zacatecas, once it received the final drill permit. The plan is to start drilling at its Panuco silver deposit and San Gill Breccia Zone by securing an access agreement with the Ejido “Panuco”. The Panuco Silver Deposit has an historic inferred mineral resource of 19,472,901 Oz AgEq (cut-off 100 g/t AgEq) from 3,954,729 tonnes at 153.2 g/t AgEq (136 g/t Ag, 0.14 g/t Au, 0.012% Pb, and 0.11% Zn). “San Gill Breccia Zone has a strike length of approximately 800m, is up to 40 m wide, and is most likely vertical.  The north-south orientation of the breccia is highly significant as gold-rich epithermal veins within the district are generally oriented north-south”.
  • Golden Tag Resources Ltd., identified mineralized skarn shoots 265m above the current Fernandez Zone resource envelope at its San Diego property in Durango.   Significant drill assays were encountered in hole 21-54 with 0.09 g/t Au, 27 g/t Ag, 0.7% Pb, 0.6% Zn, and 0.03% Cu (92 g/t AgEq) over 99.53m, including 0.25 g/t Au, 81 g/t Ag, 2.1% Pb, 2.2% Zn, and 0.1% Cu (286 g/t AgEq) over 18.43m, and others mineralized intervals of  0.12 g/t Au, 109 g/t Ag, 2.5% Pb, 1.7% Zn, and 0.04% Cu (287 g/t AgEq) over 1.64m and 0.5 g/t Au, 15 g/t Ag, 0.3% Pb, 0.3% Zn, and 0.01% Cu (83 g/t AgEq) over 12.35m; and hole 21-55 with 0.08 g/t Au, 37 g/t Ag, 0.3% Pb, 0.6% Zn, and 0.02% Cu (85 g/t AgEq) over 25.55m, including 0.04 g/t Au, 44 g/t Ag, 0.4% Pb, 0.8% Zn, and 0.02% Cu (100 g/t AgEq) over 10.9m, including 0.14 g/t Au, 45 g/t Ag, 0.3% Pb, 0.6% Zn, and 0.02% Cu (94 g/t AgEq) over 9.10m. This hole also intersected 0.96 g/t Au, 59 g/t Ag, 0.6% Pb, 0.4% Zn, and 0.03% Cu (183 g/t AgEq) over 0.5m, 0.2 g/t Au, 50 g/t Ag, 1% Pb, 0.5% Zn, and 0.02% Cu (125 g/t AgEq) over 0.79m, and 0.09 g/t Au, 83 g/t Ag, 0.5% Pb, 0.4% Zn, and 0.04% Cu (130 g/t AgEq) over 0.6m. “Drill results, in conjunction with results from previous drilling, have identified the existence of potential shoots of skarn mineralization commencing approximately 265 m above the Fernandez Zone, which could connect or be parallel to the western edge of Fernandez”.
  • GR Silver Mining Ltd., reported results from its ongoing drilling program at the San Juan Vein within its Plomosas project in Sinaloa. Significant drill intercepts were encountered in hole  SJS21-04 with 242 g/t Ag, 0.31 g/t Au, 0.4% Pb, and 0.8% Zn (310 g/t AgEq) over a true width (TW) of 10.5m, including 954 g/t Ag, 1.29 g/t Au, 1.2% Pb, 1.6% Zn, and 0.1% Cu (1,177 g/t AgEq) over a TW of 2m, including 1,184 g/t Ag, 2.27 g/t Au, 1.3% Pb, and 0.9% Zn (1,486 g/t AgEq) over a TW of 1m; hole LRD-52 with 311 g/t Ag, 0.08 g/t Au, 0.8% Pb, and 0.2% Zn (354 g/t AgEq) over a TW of 3.9m, including 781 g/t Ag, 0.21 g/t Au, 1.5% Pb, and 0.3% Zn (863 g/t AgEq) over a TW of 1m; and hole LRD-37 with 62 g/t Ag, 0.31 g/t Au, 0.6% Pb, and 0.4% Zn (126 g/t AgEq) over a TW of 20.2m, including 154 g/t Ag, 0.96 g/t Au, 1.2% Pb, and 0.4% Zn (308 g/t AgEq) over a TW of 5.7m. “The high-grade silver mineralization encountered in the San Juan Vein confirms continuity of the mineralization close to surface, 100m to the north along strike, and also correlates with previously identified high-grade mineralization at depth”.
  • VanGold Mining Corp., provided initial results from its ongoing diamond drill program at its El Pinguico project in Guanajuato.  Eight holes were drilled of which the two first holes were collared outside of the mine in the patio of the portal of adit 4. These holes were not intended as traditional exploration holes. Holes P21-01 and P21-02 were collared to test the purchased rig but encountered noticeable visible vein material, which the company now interprets to be extensions of the San Jose vein. A third hole, P21-03, was collared to test the area for further vein extensions, and intersected several intervals of significant gold and silver values, including 0.38 g/t Au and 88 g/t Ag (116 g/t AgEq) over 4.05m, including 1.5 g/t Au and 122 g/t Ag (242 g/t AgEq) over 1m, plus an additional higher-grade interval of  2.11 g/t Au and 505 g/t Ag (674 g/t AgEq) over 0.55m. The rig was moved into El Pinguico mine where the company drilled holes P21-05 to P21-08. Holes P21-05 and P21-06 intercepted   long sections of alteration crossing both San Jose and El Pinguico veins but only moderate widths of moderate Ag-Au values were encountered.  Hole P21-07 encountered quartz and carbonate material of an unknown vein and at the San Jose contact the hole intercepted broken, unconsolidated material (approximately 35% recovery) and a void causing to abandon the hole. Hole P21-08 encountered numerous intervals of good grade material, being the most significant one returning 8.81 g/t Au and 208 g/t Ag (913 g/t AgEq) over 0.75m. Four additional holes (P21-09 to P21-12) were drilled from San Jose Cross Cut #1 but assay results are pending.
  • Silver Viper Minerals Corp., released a maiden Au-Ag mineral resource estimate at its la Virginia project in Sonora.   El Rubi Zone contains an indicated resource of 6,179,000 tonnes of 0.78 g/t Au and 35 g/t Ag for 154.3K Oz Au and 6.93M Oz Ag, and inferred resources of 3,255,000 tonnes of 0.9 g/t Au and 36 g/t Ag for 94.1K Oz Au and 3.75M Oz Ag in open pit category. Virginia, El Oriental, Las Huatas and Las Huatas South add and inferred resource of 6,622,000 tonnes of 0.71 g/t Au and 41 g/t Ag for 152.2K Oz Au and 8.74M Oz Ag in open pit category, and 277K tonnes of 1.92 g/t Au and 62 g/t Ag for an additional 14K Oz Au and 451.5K Oz Ag in the underground category. Gold and Silver Equivalents for Indicated resource equal 253,286 Oz AuEq or 17,730,000 Oz AgEq. Gold and Silver Equivalents for Inferred resource equal 445,176 Oz AuEq or 31,162,300 Oz AgEq.

ON DEALS AND CORPORATE ISSUES

  • Advance Gold Corp., appointed a new member to its Board of Directors (Tabasquena property, Zacatecas).
  • Equinox Gold Corp., announced results from its annual general meeting of shareholders (Los Filos mine, Guerrero).
  • Great Panther Mining Limited announced the nomination of two new directors for election to its Board of Directors at its annual general meeting to be held on June 9, 2021 (Topia mine, Durango). 
  • One World Lithium Inc., announced the engagement of an European consultant that may include individual introduction and corporate presentations. The Agreement is for one year to May 04, 2022. The Consultant will be paid a monthly fee of 5,000 Euros   (CAD $7,400) and an option to purchase up to 800K common shares of the company at an exercise price of $0.11 per common share, being the closing price of the Company’s common shares on the Canadian Stock Exchange on May 4, 2021. The stock options are exercisable on or before May 04, 2023 and will be vested as to 200K options every two months from June 01 to December 01, 2021 (Salar del Diablo project, Baja California).
  • Colibri Resources Corporation signed a definitive deal with Silver Spruce on Diamante Gold and Silver project in Sonora.  Silver Spruce will have an option to acquire up to 50% of the property. To acquire 25% of the property, Silver Spruce has to pay USD $75K in cash to Colibri. Yaque and Silver Spruce will each then hold a 25% interest and manage the project as equal partners. To earn its initial 50% of the Diamante project from the original vendor, Yaque (together with Silver Spruce)agree to jointly design, permit and drill a minimum of 2,000 metres on the property within 24 months from the Execution Date of Yaque’s final agreement with the original Vendor.
  • GR Silver Mining Ltd., made the final option payment to SSR Mining to close the acquisition of 100% interest of San Marcial Silver project in Sinaloa. GR paid CAD $2.5M and issued 1.5M common shares to SSR.
  • Magna Gold Corp., announced that it has made the final payment of USD $5M to Argonaut Gold Inc., for the acquisition of its San Francisco mine in Sonora, and provided a promissory note for the remaining balance of USD $2,675,000 to be paid in four monthly installments commencing July, 6, 2021 and ending October 6, 2021. The promissory note bears uncompounded interest at a rate of 5% per annum.
  • Oroco Resource Corp., entered into an agreement to increase its interest on Santo Tomas property in Sinaloa.  Oroco will acquire 25 shares of Xochipala Gold SA de CV for USD $1.5M.
  • Orogen Royalties Inc., provided an update about the royalty on the Ermitaño property in Sonora, operated by its JV partner First Majestic Silver Corp. Orogen holds a 2% NSR of an indicated resources of 355K Oz Au and 5M Oz Ag, and inferred resources of 522K Oz Au and 11M Oz Ag.
  • Ganfeng Lithium Co., Ltd., said it has offered to buy the shares it does not already own in Mexico-focused Bacanora Lithium plc for up to 190M pounds (USD $264.5M). Ganfeng, which in February announced a plan to raise its stake in Bacanora from 17.41% to 28.88%, will acquire the remaining shares in the company for $67.5 pounds a share. The increase in Ganfeng’s stake to 28.88% is expected to complete shortly.

ON SOCIAL RESPONSIBILITY

  • No relevant news.

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 quartz vein with stibnite displaying boiling texture 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 Third Week of April, 2021

By Jorge Cirett

During the 15th week of the year (April 12th to April 18th, 2021), as a sign of the strong current activity, at least 43 press releases were announced by companies working in Mexico. To note, ten companies posted exploration advances on their properties, seven presented mining related news, six posted on financing or share options (including C$2.35 M, $3 M, C$14.1 M, C$5.6 M and $25 M), eight more on project development or resource definition and three posted on corporate issues. ON MEXICO ISSUES, Francisco Quiroga, the ex-secretary of Mining has been appointed ambassador in Germany. The Sonora Mining Cluster has two new female counselors. Napoleon Gomez Urrutia and its SNTMMS Union have been condemned to pay US$54 M to some of its affiliates. A new Coordination has been created in the Economy Secretariat to promote mining. The CTM Union opposes the outsourcing reform that would decrease the participation of workers in the profits of mining companies. ON EXPLORATION, In Sonora, Silver Spruce signed a LOI on the Diamante 1 and Diamante 2 projects; Ridgestone announced its exploration plan for the Rebeico property; Tocvan Ventures commenced phase II RC drilling at Pilar; Carlyle Commodities released good drilling results from Cecilia; Orogen informed its Lola and Sarape properties are being drilled by partners; Canuc Resources released information on the first drill hole on the present campaign at its San Javier Au-Ag project. In Chihuahua, Monarca Minerals signed a surface access agreement for its San Jose project; Kootenay Silver updated on drilling of its Columba project. In Sinaloa, Viszla Silver released drilling results from the Napoleon zone at its Panuco project. In San Luis Potosi and Zacatecas Advance Gold released results from auger sampling at several salars. ON MINING, Magna Gold, Fortuna Silver Mines, Sierra Metals, Excellon and First Majestic Silver released Q1 2021 production results. Consolidated Zinc announced the commencement of concentrate production from the recently refurbished plant at Plomosas in Chihuahua. ON FINANCING, Colibri Resources, Sonoro Gold, Santacruz Silver Mining, Heliostar Metals and Candelaria Mining released news on financing (with C$2.35 M, $3 M; $14.1 M, C$4 M and up to $25 M respectively). Defiance Silver completed its uplisting to the OTCQX Best Market ON RESOURCES AND DEVELOPMENT, Equinox Gold commenced the development of the Bermejal underground mine in Guerrero. Xali Gold submitted permit applications for the Mexico Mines Tailings project in El Oro, Estado de Mexico. Gatos Silver presented good drilling results from both extensions of the Cerro Los Gatos deposit in Chihuahua. Fabled Silver Gold released results from drilling at Santa Maria, Chihuahua. SilverCrest Metals released high-grade drilling results from several veins at Las Chispas, Sonora. Almaden Minerals is conducting an induced polarization survey at the Ixtaca deposit in Puebla. GoGold Resources released drilling results from El Favor zone at its Los Ricos North project in Jalisco. Golden Tag Resources released results from drilling at its San Diego property in Durango.   ON DEALS AND CORPORATE ISSUES, VanGold Mining closed with Endeavour Silver the acquisition of the El Cubo mine and mill complex in Guanajuato. Silver Spruce Resources signed a LOI with Colibri Resource on the Diamante 1 and Diamante 2 properties in Sonora. Empress Royalty executed a $5 M Silver Stream agreement with Telson Mining. ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • Francisco Quiroga Fernández, Mining ex-subsecretary was appointed ambassador of Mexico in Germany. Rare in the present administration, he’s a competent professional with experience in the private industry, and more than capable to develop and strengthen political and economic ties between the two countries.  
  • The Sonora Mining Cluster named Silvia Álvarez and Maria López Rosas as new counselors to the organism.
  • The Sindicato Nacional de Trabajadores Mineros, Metalúrgicos y Similares de La República Mexicana (a strong Mining Union) and its leader Napoleón Gómez Urrutia have lost a legal law suit and have been condemned by the Junta Federal de Conciliación y Arbitraje to pay US$54 M. The Union received these funds from the sale of the Cananea mine 15 years ago, and was supposed to deliver that money to the at the time workers of the company in charge. The union failed to deliver the funds to the miners.
  • The Mexican president ordered by decree the creation of the Coordination of Extractive Activities on the Economy Secretariat. Said unit is to coordinate the mining activities of the State and actions to promote national and foreign investments in mining, among other activities.
  • The CTM Union (Confederación de Trabajadores de México) opposes the reform on outsourcing that would lower the amount the miners receive as participation on the company’s annual profits.  

ON EXPLORATION

  • Silver Spruce Resources Inc. signed a letter of intention (LOI) on two properties in Sonora, Diamante 1 and Diamante 2 covering 1,057 hectares. Historical assays from samples in the Diamante 1 and Diamante 2 properties, which display epithermal intermediate sulfidation mineralization have returned up to 39.8 gpt Au, 3,460 gpt Ag, 7.3% Pb, 5.6% Zn. Diamante 1 has already six main targets, including the La Prieta-El Aguaje vein system, which runs for 2,000 m averaging 1 m in width. At Diamante 2 The Calton area displays two vein 900 m and 1,100 m in length, ranging from 0.30 m to 1.70 m in width. The El Cumbro-Mezquite Raizudo veins follow a structural trend 900 m long, displaying an average width of 1 meter.
  • Advance Gold Corp. released results from auger drilling sampling at all the salars it recently acquired in Zacatecas and San Luis Potosí. The 0.5 m to 1 m of depth samples returned highlighted results of up to 650 ppm boron (B), 1.91% Potassium (K) and 620 ppm Lithium (Li). The average grade of the samples was 247 ppm B, 1.17% K and 215 ppm Li.
  • Monarca Minerals Inc. executed and ratified by a Notary Public the surface access agreement with both the Ejido and Colonia on its San Jose silver project in Chihuahua. The company is now to apply for the environmental permit that will allow it to conduct its planned 5,000 m drilling campaign.
  • Ridgestone Mining Inc. announced an exploration plan for its 3,459 hectares Rebeico project in Sonora. The current phase will comprise geologic mapping, sampling and prospecting, with focus on the New Year zone, the Santa Elena outcrop and El Cobre mine.
  • Tocvan Ventures Corp. announced the start of phase II of its drilling program at the Pilar project in Sonora. The two-stage 4,000 m reverse circulation (RC) drill program will focus first on the “definition and expansion of the Main Zone, which during Phase I returned 94.6-meters at 1.6 g/t Au including 9.2m at 10.8 g/t Au and 38 g/t Ag”, and then to test the new targets across the property.
  • Kootenay Silver Inc. reported it has completed 12 core drill holes totalling 1,800 m as part of its 5,000 m campaign at its Columba project in Chihuahua. Kootenay has tested the F vein and is now testing an area east of the J-Z zone.
  • Carlyle Commodities Corp. released the first batch of drill results from the Cecilia project in Sonora. The program consisted of seven holes, of which results have been received for five. The best intercept was 24.2 m @ 1.51 gpt Au. Other core-length highlighted intervals comprise 1.30 m @ 0.69 gpt Au; 5.95 m @ 0.20 gpt Au, 3.10 m @ 0.52 gpt Au; 9.45 m @ 0.23 gpt Au; 1.00 m @ 0.55 gpt Au; 3.45 m @ 0.35 gpt Au; 4.30 m @ 0.29 gpt Au; 6.10 m @ 0.43 gpt Au; 3.00 m @ 0.87 gpt Au. “The first drill program from Carlyle and Riverside was focused on targeting the hydrothermal system identified at two principal elevations: 2,200 m and 1,900 m, respectively corresponding to the San Jose Target and the North Breccia Target…… to test the continuity of the mineralized structures at shallow depth”.  
  • Orogen Royalties Inc. announced the commencement of drilling programs on two of its properties in Sonora. At La Lola, partner Heliostar Metals Ltd. has initiated a 1,500 m drilling program. At the 57.8 square km Sarape project, Orogen and partner Hochschild PLC commenced a planned 3,000 m program. Eight holes will be drilled on 2.5 km of the Sarape vein. “In 2019, nine holes drilled within a 380-metre-long segment of the vein defined a structural dilation zone at 100-350 metres depth (Figure 2). In this zone the vein thickens to 23.6 metres in width..…. A deeper horizon will also be drilled to identify if the grade of the vein improves with depth”.
  • Canuc Resources Corp. informed on drilling advance at its San Javier Ag-Au project in Sonora. The first hole of a planned 6,000 m program was ended at 89.5 m in a fault zone. It intersected brecciated sedimentary rocks with stockwork veining and three intervals of massive magnetite breccia. “The 20-hole program is designed to test at least 4 magnetic features that underlie areas where a 2020 mapping and rock sampling program identified silver, gold and copper mineralization. At surface, the host rocks for three of these features are found to be magnetite breccia”. The program is focused on magnetic anomalies identified by a previous survey.
  • Viszla Silver Corp. released drilling results from step out drilling at the southern extension of the Napoleon prospect at its Panuco project in Sinaloa. The Napoleon vein has been mapped for more than 2.5 km and has four rigs drilling at the time. Highlighted true width intercepts comprise 4.46 m @ 890 gpt Ag, 19.99 gpt Au, 0.7% Pb, 1.8% Zn (including 0.92 m @ 3,804 gpt Ag, 91.91 gpt Au, 1.5% Pb, 3.5% Zn); 1.92 m @ 105.9 gpt Ag, 7.28 gpt Au, 0.7% Pb, 2.9% Zn (including 1.45 m @ 131 gpt Ag, 9.39 gpt Au, 0.8% Pb, 3.1% Zn)

ON MINING

  • Fortuna Silver Mines Inc. released production results for the first quarter 2021, including figures from its Mexican operations. At San José, in Oaxaca, 259.8 K tonnes @ 217 gpt Ag, 1.36 gpt Au were milled, recovering 90.8% Ag, 90.5% Au to produce 1.65 M Oz Ag, 10,301 Oz Au.
  • Consolidated Zinc Ltd. announced the 2021 zinc concentrate “benchmark treatment charge (TC) has been agreed between the major miners and smelters at US$159.00/t of concentrate, a reduction of 47% from last year’s benchmark treatment charge of US$299.75/t”. Treatment charges in 2020 represented 33% of total operating costs (before by-product credits) being the single largest operating cost (Plomosas, Chihuahua).
  • Magna Gold Corp. informed production levels have benefited from the accelerated stripping program, resulting in month to month growth in gold production, with 3,085 ounces in January, 2,670 ounces in February and 4,030 ounces in March. Magna anticipates the mine will return to full scale commercial production by June of this year, with 2021 guidance in the range of 55,000 to 65,000 Oz Au. During the Q1 2021, 619 K tonnes were mined @ 0.34 gpt Au, with 5.2 M tonnes of waste moved (8.40 strip ratio) to produce 9,785 Oz Au, 8.1 K Oz Ag.
  • Sierra Metals Inc. reported first quarter 2021 production reports, including figures from its Mexican properties. At Bolivar, in Chihuahua, 371.6 K tonnes were processed @ 0.77% Cu, 19.7 gpt Ag, 0.19 gpt Au, recovering 82.8% Cu, 83.6% Ag, 69.6% Au, to produce 5.2 M Lb Cu, 197 K Oz Ag, 1,591 Oz Au (7.3 M Lb CuEq). At Cusi, also in Chihuahua, 76.6 K tonnes were processed @ 15.2 gpt Ag, 0.16 gpt Au, 0.22% Pb, recovering 80.9% Ag, 39.6% Au, 81.5% Pb, to produce 313 K Oz Ag, 155 Oz Au, 298 K Lb Pb (334 K AgEq Oz Ag).
  • Consolidated Zinc Ltd. announced the first concentrate from the newly refurbished plant at its Plomosas property in Chihuahua has been produced.
  • Excellon Resources Inc. released Q1 2021 production results from the Platosa mine in Durango. At the site 21,212 tonnes were mined, 21,764 tonnes were milled @ 524 gpt Ag, 5.35% Pb, 6.73% Zn, recovering 89.7% Ag, 81.8% Pb, 74.7% Zn to produce 328.7 K Oz Ag, 2.1 M Lb Pb, 2.4 M Lb Zn, or 516.7 K Oz AgEq.
  • First Majestic Silver Corp. produced during the Q1 2021 2.9 M Oz Ag, 23,873 Oz Au, or 4.5 M Oz AgEq from its three mines in Mexico: San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila. The company completed 39,552 m in exploration drilling during the quarter, with 10 rigs at San Dimas, seven rigs at Santa Elena and two rigs at La Encantada.

ON FINANCING

  • Colibri Resource Corp. has closed a non-brokered private placement for CAD$2.35 M in gross profits. (Evelyn, Sonora).
  • Sonoro Gold Corp. has increased its non-brokered private placement to raise an aggregate of $3 M thorough the exercise of over allotment options (Cerro Caliche, Sonora).
  • Santacruz Silver Mining Ltd. closed its non-brokered private placement offering, for gross proceeds of CDN$14.1 M (Carrizales, Hidalgo).
  • Defiance Silver Corp. successfully completed an uplisting to the OTCQX Best Market (San Acacio, Zacatecas).
  • Heliostar Metals Ltd. is increasing the size of its C$4 M marketed private placement to raise up to C$5.6 M (La Lola, Sonora).
  • Candelaria Mining Corp. intends to raise up to $25 M to fund exploration activities at the Caballo Blanco district in Veracruz, and the Pinos project in Zacatecas.

ON RESOURCES AND DEVELOPMENT

  • Equinox Gold Corp. is commencing development of the Bermejal underground mine at its Los Filos project in Guerrero.
  • Xali Gold Corp. submitted permit applications for the Mexico Mines Tailings project in El Oro, Estado de México. The permits are to allow both the transportation and re-processing of the tailings at a new 25 hectares plant site located 5 Km from the current location. Xali’s is to pay the El Oro municipality an 8%  net profit interest (NPI). The project has an inferred resource of 1.27 M Tonnes grading 2.94 Au g/t, 75.12 Ag g/t, containing 119,900 Oz Au and 3.06 M Oz Ag.
  • Gatos Silver Inc. reported drilling results of delineation drilling at Cerro Los Gatos in Chihuahua. The program has demonstrated continuity in both the southeast and northwest projections of the current reserve. Highlighted true width drill results include: 9.5 m @ 0.11 gpt Au, 51 gpt Ag, 2.1% Pb, 3.1% Zn; 3.4 m @ 0.12 gpt Au, 122 gpt Ag, 5.0% Pb, 9.8% Zn, 0.2% Cu; 5.4 m @ 0.25 gpt Au, 121 gpt Ag, 1.5% Pb, 2.9% Zn; 7.2 m @ 0.14 gpt Au, 106 gpt Ag, 3.5% Pb, 3.4% Zn, 0.1% Cu; 2.6 m @ 0.21 gpt Au, 327 gpt Ag, 9.2% Pb, 3.8% Zn, 0.14% Cu; 12.0 m @ 0.15 gpt Au, 44 gpt Ag, 1.1% Pb, 4.0% Zn, 0.15% Cu; 2.8 m @ 0.20 gpt Au, 111 gpt Ag, 1.6% Pb, 3.9% Zn, 1.3% Cu; 1.9 m @ 0.12 gpt Au, 132 gpt Ag, 3.2% Pb, 9.9% Zn, 0.4% Cu; 7.2 m @ 0.06 gpt Au, 25 gpt Ag, 1.0% Pb, 10.3% Zn, 0.2% Cu; 5.7 m @ 0.17 gpt Au, 152 gpt Ag, 3.0% Pb, 4.4% Zn, 0.30% Cu.
  • Fabled Silver Gold Corp. released drilling results from its Santa Maria property in Chihuahua. The last sample on the last drill hole returned 75.9 gpt Ag, with 6.4 m of similar material awaiting results. Fabled is making a reinterpretation of previous work and testing the new targets identified. The ongoing 8,000 m drill program has been increased to at least 9,200 m. “This program will be focused underground to delineate the Santa Maria Central Structure with multi underground drill stations being prepared”.
  • SilverCrest Metals Inc. released additional in-fill and expansion drill results s from the Babi Vista vein splay, Babi Vista vein, Granaditas 1 vein, Granaditas 2 vein, and adjacent hangingwall and footwall veins in the Babicanora Area of its Las Chispas Project in Sonora. The results are from 78 holes totaling 29,308 m completed since the last news release for these veins, in areas with mineral resources or in close proximity. Average results for the Babi Vista vein splay comprise 0.91 true width @ 16.12 gpt Au, 1,351 gpt Ag, with individual intercepts of up to 1.04 m @ 185.65 gpt Au, 13,959 gpt Ag. Babi Vista Footwall and Granaditas 1 average 1.04 m @ 12.89 gpt Au, 1,884 gpt Ag, with the highest intercept running 0.40 m @ 114.0 gpt Au, 78,872 gpt Ag (7.89% Ag). The Babi Vista and Granaditas 2 vein average 0.67 m @ 4.56 gpt Au, 414 gpt Ag, while the Babi Vista Hangingwall averages 0.43 m @ 2.55 gpt Au, 249 gpt Ag.
  • Almaden Minerals Ltd. is conducting an induced polarization geophysical survey at the Ixtaca deposit in Puebla. “The work is designed to help define drill targets beneath the area of hydrothermal alteration called the Southeast Alteration (SE) zone and at depth beneath the Ixtaca deposit (“Ixtaca Deeps”). It is hoped that this geophysical survey, along with past survey results, will identify potential zones of veining like those in the Ixtaca deposit. The discovery drill hole in the original Ixtaca deposit area was planned in part based on high resistivity and chargeability results obtained in an earlier IP geophysical survey”.
  • GoGold Resources Inc. released results from six diamond drill holes from El Favor area at its Los Ricos North project in Jalisco. Highlighted core-length intervals comprise 69.3 m @ 108 gpt Ag, 0.49 gpt Au (including 15.3 m @ 392 gpt Ag, 1.76 gpt Au); 9.6 m @ 112 gpt Ag, 0.39 gpt Au; 59.0 m @ 119 gpt Ag, 0.32 gpt Au (including 5.0 m @ 361 gpt Ag, 0.90 gpt Au); 2.8 m @ 110 gpt Ag, 0.16 gpt Au; 16.1 m @ 97 gpt Ag, 0.21 gpt Au; 12.0 m @ 86 gpt Ag, 0.09 gpt Au; 3.2 m @ 204 gpt Ag, 0.15 gpt Au; 7.2 m @ 135 gpt Ag, 0.76 gpt Au; 23.3 m @ 92 gpt Ag, 0.22 gpt Au; 12.9 m @ 254 gpt Ag, 0.81 gpt Au (including 8.2 m @ 392 gpt Ag, 1.25 gpt Au).
  • Golden Tag Resources Ltd. released results from the first three holes of a 4,500 m campaign at its San Diego project in Durango. A hole in the Fernandez zone returned 50.17 m @ 105 gpt AgEq; Another hole intersected 127.3 m of skarn/Fernandez style mineralization, intersecting 35.46 m @ 0.06 gpt Au, 30 gpt Ag, 0.14% Pb, 0.24% Zn, 0.01% Cu (52 gpt AgEq) and 91.84 m @ 0.07 gpt Au, 15 gpt Ag, 0.31% Pb, 0.34% Zn, 0.01% Cu (49 gpt AgEq). Other holes intercepted 1.11 m @ 0.90 gpt Au, 142 gpt Ag, 0.13% Pb, 0.21% Zn, 0.02% Cu; 3.25 m @ 0.02 gpt Au, 237 gpt Ag, 0.41% Pb, 0.82% Zn, 0.08% Cu; 1.10 m @ 0.28 gpt Au, 195 gpt Ag, 1.70% Pb, 1.92% Zn, 0.07% Cu; 2.69 m @ 0.05 gpt Au, 355 gpt Ag, 0.30 % Pb, 0.41% Zn, 0.02% Cu; 8.41 m @ 0.02 gpt Au, 24 gpt Ag, 0.61% Pb, 0.49% Zn, 0.06% Cu.

ON DEALS AND CORPORATE ISSUES

  • VanGold Mining Corp. closed the acquisition of El Cubo mine and mill complex in Guanajuato with Endeavour Silver Corp..  The deal involved the payment of US$7 M in cash plus VAT and the delivery of 21.33 M shares of VanGold and a promissory note for $2.5 M a year from closing. El Cubo has 508 K tonnes grading 194 gpt Ag, 2.44 gpt Au containing 3.17 M Oz Ag, 39,860 Oz Au as indicated resources and 1.45 M tonnes @ 214 gpt Ag, 2.78 gpt Au containing 10 M Oz Ag, 129,900 Oz Au as inferred resources.
  • Silver Spruce Resources Inc. signed a letter of intention (LOI) with Colibri Resource Corp. to acquire up to 50% interest in four concessions in Sonora, comprising two properties, Diamante 1 and Diamante 2 covering 1,057 hectares. The projects are separated by 700 meters, and in close proximity to other Colibri properties. The initial cash payment by Silver Spruce is to be of $75 K (Note.- The details of the deal are lengthy and involve a third party, please take a look to the appropriate press release if interested in it).
  • Empress Royalty Corp. executed the US$5 M silver stream agreement on the Telson Mining Corp. owned Tahuehueto project in Durango. “Empress has now executed the US$5M silver stream agreement on production from Telson’s Tahuehueto project in Mexico. The US$5M Stream is on 100% of the payable silver production from Tahuehueto for the first 1,250,000 payable ounces; thereafter, the percentage will stepdown to 20% of the payable silver production to a maximum of 10 years from first production after which the Stream terminates”.

ON SOCIAL RESPONSIBILITY

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Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.

On the image below:  Disseminated and vein constrained sulfides in a porphyritic intrusive rock in split diamond core from Cerro San Pedro in San Luis Potosi. Picture by Jorge Cirett.