Bacanora Announces Formal Appointment of Non-Executive Directors

http://www.marketwatch.com/story/bacanora-announces-formal-appointment-of-non-executive-directors-2017-06-09-91602253

CALGARY, ALBERTA, Jun 09, 2017 (Marketwired via COMTEX) — CALGARY, ALBERTA–(Marketwired – June 9, 2017) – BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (BCN)(aim:BCN), the Canadian and London listed lithium exploration and development company, is pleased to announce the formal appointment of Dr. Andres Antonius and Mr. Junichi Tomono to the Board as Non-Executive Directors.

As noted in the announcement dated 15 May 2017, following approval by the Board of Bacanora the appointments were subject to the completion of standard regulatory reviews in accordance with the AIM Rules for Companies. These reviews have now been completed. As a result, the appointment to the Board of both Dr. Antonius, a Mexican national who has held positions in the Government of Mexico, the private sector and academia, and Mr. Tomono, head of the Speciality Metals and Alloys department of leading Japan-based global trading company Hanwa Co., LTD. (“Hanwa”), will now take full effect. There are no additions or changes to the information disclosed on Dr. Antonius and Mr. Tomono in the announcement dated 15 May 2017 which is required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.

Wealth Announces USD 15 Million Private Placement and Initial Application to Oslo Stock Exchange

http://www.wealthminerals.com/news/2017/06/02/wealth-announces-usd-15-million-private-placement-and-initial-application-to-oslo-stock-exchange

FOR IMMEDIATE RELEASE….Vancouver, British Columbia: Wealth Minerals Ltd. (the “Company” or “Wealth”) – (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt: EJZN), announces a private placement of common shares of the Company (the “Shares”) for gross proceeds of up to USD 15 million (the “Placement”) at the price of CAD 1.50 per Share.

The Placement will consist of a brokered portion in the amount of up to USD 10 million and a non-brokered portion in the amount of up to USD 5 million. Advisory fees and/or finder’s fees will be payable on the Placement. Wealth has formed a consortium of Norwegian investment banks to conduct the brokered portion of the Placement.

All Shares issued in the Placement will have a hold period in Canada of four months from the closing of the Placement. All Shares issued in the non-brokered portion of the Placement are expected to be listed on the Oslo OTC or Merkur Market operated by the Oslo Stock Exchange.

The completion of the Placement is subject to the customary conditions, including, receipt of the requisite corporate and regulatory approvals, completion of due diligence by the agents in connection with the brokered portion of the Placement, and acceptance for filing of the Placement by the TSX Venture Exchange.

Highlights on the Fourth Week of May, 2017. Mineral Exploration in Mexico

During the 21st week of the year (May 22nd to May 28th, 2017), at least 25 press releases were announced by companies working in Mexico. ON EXPLORATION, Zenith announced sample results from its brine project in Zacatecas. The bulk of exploration press releases relate to work in Sonora, with San Marco commencing exploration of the Oregano project, Minaurum identifying two new structures at its Alamos Silver project (formerly La Quintera), Goldex presenting the exploration status of the Mingeo project, Oceanus presenting drilling results from El Tigre and Alix announcing metallurgical results for its Agua Fria project.  ON MINING, An illegal strike and union blockade paralyzed operations at First Majestic’s La Encantada mine in Coahuila, Fortuna Silver presented financial results for Q1 2017 and Torex reported a fatal accident at its Limon-Guajes mine in Guerrero. ON FINANCING, five companies announced some form of financing, with Evrim closing a private placement for $4.3 M, Arian raising £600 K, West Minster $678 K and Mexican Gold 1.8 M, Bacanora signing a subscription agreement for US$9.6 M and Coeur ending the purchase of 2021 tender notes for $117.9 M. ON RESOURCES AND DEVELOPMENT, Consolidated Zinc has defined new geophysical targets in Plomosas, Chihuahua, Marlin released high grade results from drilling within the pit area in La Trinidad mine in Sinaloa and Almadex Mnerals reported new drill results from El Cobre in Veracruz. ON DEALS AND CORPORATE ISSUES, Goldex entered into a LOI to acquire the Mingeo property in Sonora.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Zenith Minerals Ltd. has released high grade lithium results from its Zacatecas brine project. Lithium is up to 1,046 ppm on the San Juan lagoon, where a 4 km x 2 km zone with sediment samples over 100 ppm was defined. A passive seismic survey confirmed the presence of a sedimentary basin beneath the surface salt lakes, with a layer 50 to 70 m thick recognized through the area and a yet unconfirmed deeper layer at 150-180 m of depth. A reservoir of brine has to exist to advance the project, with the next exploration steps involving an electrical based geophysical survey followed by drilling.
  • San Marco Resources Inc. commenced exploration at its Oregano project in Sonora. Within the 73 K hectares concession application there is a set of quartz veins interpreted as the shallow part of an epithermal system, with true widths of the veins appearing to be in the 5 to 15 m range. Vein textures include lattice, bladed and cockade features, with quartz varieties including chalcedony, opaline, silica replacing calcite and cryptocrystalline. Initial continuous diamond saw cut channel sampling has returned 23.5 m @ 0.33 g/t Au, 9 g/t Ag; 14.3 m @ 0.31 g/t Au, 5 g/t Ag; 31.4 m @ 0.12 g/t Au, 15 g/t Ag; 16.6 m @ 0.12 g/t Au, 10 g/t Ag.
  • Minaurum Gold Inc. identified two new well mineralized vein systems at its Alamos Silver project (La Quintera). The Europa-Palomas and El Tigre veins lie in a down-faulted block, and their structural model indicates a high level system. The Europa-Palomas vein system can be traced for 1.4 km, with Chips and dumps sampling returning up to 1,085 g/t Ag, 1.3% Cu, 3.1% Pb, 5.3% Zn. The El Tigre vein has been mapped for over 800 m, and chip sampling has returned up to 438 g/t Ag, 0.3% Cu, 1.6% Pb, 11.5% Zn.
  • Goldex Resources Corp. presented the exploration status of the Mingeo property, which it has under a letter of intent (LOI). The property “lies within the carbonate rocks of the Mural or Morita Formation Cretaceous siltstones and Paleozoic carbonate sedimentary rocks of the Sonoran Bisbee-Cananea rift basin. One of the main mineralized structures consists of a low angle dipping quartz epithermal vein/manto with approximately 15° to 20° dip to the NE and a thickness that ranges from 0.50 to approximately 3 metres. Mineralization has been observed to comprise medium grained disseminated pyrite, arsenopyrite, minor chalcopyrite and rare galena”.
  • Oceanus Resources Corp. reported recent drilling assay results from its El Tigre property in Sonora: 67.6 m @ 1.24 g/t Au, 19 g/t Ag (including 23.4 m @ 2.77 g/t Au, 40 g/t Ag); 37.7 m @ 0.62 g/t Au, 12 g/t Ag; 9.0 m @ 0.18 g/t Au, 125 g/t Ag.
  • Alix Resources Corp. announced metallurgical results from lithium bearing clays at its Agua Fria project in Sonora. The acid leach process achieved 99% extraction over four hours with no roasting or expensive reagents required.

ON MINING

  • First Majestic Silver Corp. announced “that a rogue group of union workers have halted activities and blocked the access at the La Encantada mine in Coahuila. The illegal blockade arose after some of the unionized individuals did not agree with the bonus that the company and the National Union of Miners, Metallurgists, Steelworkers and Similar Workers of Mexico (National Union), agreed to offer the miners in lieu of profit sharing.”
  • Fortuna Silver Mines Inc. reported financial results for the first quarter 2017. At San Jose in Oaxaca 267.3 K tonnes were milled (3,108 tonnes per day, or TPD) @ 226 g/t Ag, 1.67 g/t Au, recovering 92% and 91% respectively to produce 1.79 M Oz Ag, 13,116 Oz Au at cash cost $1.35 and AISC $6.61 per silver ounce net of by-product credits. Cash and cash equivalents stood at 191.2 M at the end of the period.
  • Torex Gold Resources Inc. reported a fatal accident at its El Limon-Guajes mine in Guerrero. An employee of a contractor was fatally injured when its truck rolled down a berm on El Limon Sur pit.

ON FINANCING

  • Evrim Resources Corp. has closed its private placement for gross proceeds of $4.3 M (Ermitaño, Sonora; Cerro Cascaron, Chihuahua).
  • Bacanora Minerals Ltd. has entered into a subscription agreement with Capital Research and Management Co. under which Capital will subscribe Bacanora shares for US$9.6 M (Sonora, Lithium project, Sonora).
  • Coeur Mining Inc. announced the expiration date of the previously announced cash tender offer to purchase its 7.85% senior notes due 2021, with $117.9 M of the notes validly tendered, or 66.2% of the 2021 outstanding notes (Palmarejo, Chihuahua).
  • Arian Silver Corp. has raised £600 K before expenses (lithium properties, Zacatecas).
  • Westminster Resources Ltd. closed the first tranche of a private placement, raising gross proceeds of $978 K, and expects to close a second tranche of up to an additional $462 K (El Cobre, Sonora).
  • Mexican Gold Corp. closed a non-brokered private placement for gross proceeds of 1.8 M (Las Minas, Veracruz)

ON RESOURCES AND DEVELOPMENT

  • Consolidated Zinc Ltd. has defined new geophysical targets by reprocessing the magnetic and gravity data collected during the 2016 survey on its Plomosas project in Chihuahua. One of the main points is the interpretation of an intrusive body at depth that could explain the origins of mineralization in the Plomosas mine area. Geochemical vectoring is also being evaluated to assist in determining the presence of such intrusive body.
  • Marlin Gold Mining Ltd. released high grade drill results from the south part of the Taunas pit on its Trinidad mine in Sinaloa. Intercepts include 63.35 m @ 7.57 g/t Au (including 10.0 m @ 29.3 g/t Au); 11.90 m @ 2.53 g/t Au; 10.0 m @ 1.12 g/t Au.
  • Almadex Minerals Ltd. released assay results from drilling at the Norte zone in its El Cobre project in Veracruz. Intercepts results comprise 45.0 m @ 0.65 g/t Au, 0.28% Cu in one hole, and 378 m @ 0.65 g/t Au, 0.28% Cu (including 74.8 m @ 0.65 g/t Au, 0.25% Cu; 28.6 m @ 1.31 g/t Au, 0.57% Cu; 96 m @ 0.76 g/t Au, 0.28% Cu; 59.4 m @ 0.95 g/t Au, 0.33% Cu) in another hole.

ON DEALS AND CORPORATE ISSUES

  • Goldex Resources Corp. has entered into a Letter of Intent (LOI) for an option to acquire a 51% interest in the Mingeo property with Mingeo International S.A. de C.V. by spending US$500 K by April 2020, and another US$500 K by 2022. The Property consists of six concessions totaling approximately 1947 hectares and is located within the major porphyry belt of Sonora.

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

On the picture below, irregular oxidized sulfide veining in a felsic volcanic rock, Central Chiapas. Photo by Jorge Cirett.

Oxidized sulfide veinlet, La Javia SE, 2m from sample 18595

LITHIUM EXTRACTIONS UP TO 99% FROM AGUA FRIA, MEXICO

http://www.alixresources.com/index.php?page=news&id=1235

May 24th, 2017, Vancouver, BC, Canada – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces results of successful metallurgical work on Agua Fria lithium bearing clays.

HIGHLIGHTS

  • Acid leach at 50C achieves 99% lithium extraction
  • Short leach time – only 4 hours
  • No roasting required
  • No expensive reagents required.

Bacanora Announces Completion of Equity Financing

http://www.marketwatch.com/story/bacanora-announces-completion-of-equity-financing-2017-05-24-17160180

CALGARY, ALBERTA, May 24, 2017 (Marketwired via COMTEX) — CALGARY, ALBERTA–(Marketwired – May 24, 2017) – BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (BCN)(aim:BCN), the Canadian and London listed lithium exploration and development company, has entered into a Subscription Agreement (the “Subscription”) with Capital Research and Management Company (“Capital”). Under the terms of the Subscription, Capital has agreed to subscribe for 8,573,925 new Common Shares in Bacanora (the “Subscription Shares”) at a price of 86 pence (approximately C$1.51) per ordinary share, raising gross proceeds of approximately £7.4 million (approximately US$9.6 million / approximately CAD $13 million) for the Company.

Zenith Minerals – High-Grade Surface Lithium Results at Zacatecas Brine Project

http://www.zenithminerals.com.au/aurora/assets/user_content/file/ZNC%202017/170524%20ZNC_High%20Grade%20Lithium%20Results%20-%20Zacatecas.pdf

Zenith Minerals Limited (“Zenith” or “the Company”) is pleased to advise that results of the field programs in Mexico funded by Bradda Head have returned highly encouraging surface results up to 1046ppm lithium from new surface sediment samples taken on salt pans in the Zacatecas Lithium Project in central Mexico (Figure 1). The samples were collected as part of a systematic surface sampling program designed to assess lithium levels in sediments up to 1.0 metre below the surface of the salt pans. The program has outlined a large 4km by 2km strong lithium anomaly (values greater than 300ppm lithium) on the San Juan concession (Figure 2).

Highlights on the Third Week of May, 2017. Mineral Exploration in Mexico

During the 20th week of the year (May 15th to May 21st, 2017), at least 27 press releases were announced by companies working in Mexico. ON EXPLORATION, In Chihuahua Kootenay has begun drilling at La Cigarra, whereas Levon started drilling at Cordero. In Zacatecas Alset has sent the first drill samples for assay and Defiance commenced a drill program at San Acacio. In Veracruz Mexican Gold announced one high grade gold drill intercept  at Las Minas.  ON MINING, Fortuna presented financial results 2016. Mexus keeps advancing to production at Santa Elena in Sonora. ON FINANCING, three companies announced private placements, or increased placements for $7.8 M. One company completed and offering to reduce paid interest on outstanding notes for 300 M. ON RESOURCES AND DEVELOPMENT, Alio announced a PFS on its Ana Paula project in Guerrero, while Almaden Minerals presented a PFS, on Ixtaca, in Puebla. Consolidated Zinc continues drilling to get a resource on its Plomosas mine in Chihuahua. ON DEALS AND CORPORATE ISSUES, SilverCrest Metals began trading at the OTCQX® Best Market, Fortuna is getting up to date with its SEC filings, Mexican Gold has bought two more concessions at its Las Minas project in Veracruz and Colibri received confirmation that it is to resume trading on May 18th.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Kootenay Silver Inc. has initiated a 7,500 m drill program at its La Cigarra project in Chihuahua. The program is to focus on the expansion of the current mineral resource by first targeting an 800 m expanse between Las Venadas and Las Carolinas zones.
  • Levon Resources Ltd. starts a 5,000 m core drilling campaign at its Cordero project in Chihuahua. The holes are being drilled in the Cordero felsic dome complex in the central portion of the resource, looking for better grades near the surface.
  • Alset Minerals Corp. has completed one drill hole and five auger holes at La Salada, the first of seven salars to be drilled in Zacatecas. Soil and brine samples were collected and sent for assay.
  • Mexican Gold Corp. announced that step-out drilling at the Cinco Señores zone, in its Las Minas project in Durango, has indicated a potential parallel mineralized zone. One hole intersected 2.0 m @ 10.8 g/t Au, 42 g/t Ag, 2.8% Cu.
  • Defiance Silver Corp. commenced a drill program at its San Acacio property in Zacatecas, with the aim to expand the current deposit. Previous drilling at Esperanza intersected 12.7 m grading 297 g/t AgEq, and at Almaden 8.3 m @ 278 AgEq. A third target to be tested is the Quartz-Pyrite Breccia. Previous drilling includes intercepts of 17.0 m @ 110 g/t Ag, 0.1 g/t Au (including 8.1 m @ 222 g/t Ag, 0.2 g/t Au); 16.7 m @ 101 g/t Ag, 0.75 g/t Au (including 3.2 m @ 419 g/t Ag, 0.8 g/t Au); 10.1 m @ 100 g/t Ag, 0.56 g/t Au. These intercepts display lead and zinc values of up to 1.9% and 4.6% respectively.

ON MINING

  • Fortuna Silver Mines Ltd. presented full year 2016 financial results, with a net income of $17.8 M on revenue of $213 M. At San Jose in Oaxaca 273 K tonnes were milled (3,103 tonnes per day, TPD) @ 225 g/t Ag, 1.69 g/t Au, recovering 92% Ag, 92% Au, to produce 1.82 M Oz Ag, 13,660 Oz Au at cash cost $1.85 and all-in sustaining cost $6.73 per silver ounce, net of by-product Au credits.
  • Mexus Gold US. has completed two holding ponds and a heap leach pad, commenced a cyanide drip system on the heap and started the Merryl Crowe recovery system at its Santa Elena mine in Sonora (not to mistake with First Majestic’s Santa Elena mine, also in Sonora). Smelting the first 250 pounds of precipitate is the next step to be accomplished in May.

ON FINANCING

  • Geologix Explorations Inc. intends to carry a private placement for proceeds of up to $1 M (Tepal, Michoacan).
  • Mexican Gold Corp. announced an increase on its private placement, from $1.5 M to $1.8 M (Las Minas, Veracruz).
  • New Gold Inc. announced that it has completed its offering of $300 million aggregate principal amount of 6.375% Senior Notes due 2025, intending to use the net proceeds to fund the redemption of its outstanding $300 million 7.00% Senior Notes due 2020 on or about June 3, 2017.
  • Southern Silver Exploration Corp. announced a private non-brokered placement intended to raise $5 M (Cerro Las Minitas, Durango).
  • Fortuna Silver Mines Ltd. announced that “The Company will not be proceeding with the brokered private placement announced on April 4, 2017 and April 27, 2017”.

ON RESOURCES AND DEVELOPMENT

  • Alio Gold Inc. announced the pre-feasibility study (PFS) results on its Ana Paula project in Guerrero. The report defines 13.4 M tonnes @ 2.36 g/t Au as proven and probable mineral reserves, containing 1.02 M Oz Au. The scope of the PFS involves an open-pit with a mine life of 7.5 years to produce 868 K Oz Au on an 85% recovery rate. A capital cost of $137.2 M and an NPV of $223 M and IRR of 34% after tax at $1,250/oz Au. “Mineralization occurs in the complex breccia, granodiorite, monolithic breccia, hornfels and limestoneshale. The bulk of the high grade mineralization at Ana Paula is centered on the complex breccia domain which is surrounded by a high-grade mineralized halo, mainly granodiorite. “
  • Almaden Minerals Ltd. has filed the pre-feasibility study (PFS) on its Ixtaca project in Puebla.
  • Consolidated Zinc Ltd. is drilling to determine the full scope and geometry of the Carola South and Tres Amigos zones, both with high-grade zinc recent results, as both areas are to be included in the upcoming resource update.

ON DEALS AND CORPORATE ISSUES

  • SilverCrest Metals Inc. has begun trading on the OTCQX® Best Market under its existing ticker symbol “SVCMF”, operated by OTC Markets Group, providing a better platform to reach U.S. investors (Las Chispas, Sonora).
  • Fortuna Silver Mines Inc. has filed its 2016 annual financial documents, complying with SEC requirements. The company still has to file the Q1 2017 financial statements, and is planning to comply by May 24th, 2017.
  • Mexican Gold Corp. Acquired two mining concessions at its Las Minas project in Veracruz. The company paid $150 K plus VAT for 100% interest on the properties, while the previous private owner is to retain 1.5% NSR, of which 0.5% can be purchased by $500 K. The Pueblo Nuevo concession covers 97.5 has with several historical underground mines, including one with 21 levels. The veins in marble and diorite are 100 to 300 m in length, and 0.50 to 3.0 m in width. Of three samples collected, one returned 11.99 g/t Au, 41 g/t Ag, 1.3% Cu over 1 m and one other 0.2 m @ 28 g/t Au, 14 g/t Ag. The 43 hectares La Luz concession covers an area prospective for skarn mineralization akin to the adjacent Las Minas area.
  • Colibri Resources Corp. has received confirmation from the TSX Venture Exchange that its shares will resume trading on May 18th.

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

On the picture below, incipient brecciation sealed by oxidized sulfide in a volcanic rock, Central Chiapas. Photo by Jorge Cirett.

Breccia, La Javia SE 2

Alset Minerals Intersects Brine In New Wells At La Salada Salar, Zacatecas, Mexico

https://alsetenergy.ca/news/2017/alset-minerals-intersects-brine-in-new-wells-at-la-salada-salar-zacatecas-mexico

Vancouver, British Columbia: Alset Minerals Corp. (TSXV: ION) (“Alset” or “the Company”) is pleased to provide an update on the progress of the drilling at La Salada salar in Zacatecas, Mexico. La Salada is the first of seven salars to be drilled. All of these salars are currently under license to Alset. These salars are covered by 11 mineral concessions in which Alset owns a 100% interest (see Company news release dated 12th April 2017). In total the seven salars cover an area of approximately 3480 hectares (8600 acres).

As of May 12, 2017, one diamond drill hole and five auger holes were completed. Soil and brine samples were recovered from these holes and were delivered to independent lab personnel on May 12, 2017. These samples have been submitted for geochemical analysis, mineralogical studies and leach testing of the soils. The drilling program is ongoing and the Company will provide updates on drilling progress and on lab results as soon as they are available.

Highlights on the Second Week of May, 2017. Mineral Exploration in Mexico

During the 19th week of the year (May 8th to May 14th, 2017), at least 31 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, Mexico was in 2016 the major producer of silver in the world for the seventh year in a row. ON EXPLORATION, In Sonora Riverside Resources initiated exploration on its Cecilia project and SilverCrest reported the discovery of a new high-grade silver vein at its Las Chispas project. Arian Silver presented lithium results from its projects in Zacatecas.  ON MINING, Eleven companies presented first quarter 2017 financial results: Hecla, Golden Minerals, Pan American, Excellon, GoGold, Premier Gold, Avino, Americas Silver, Sierra Metals, Aura Minerals and Mag Silver. ON FINANCING, Only one company, Alset Minerals, presented a press release relating to a $369 K financing round. ON RESOURCES AND DEVELOPMENT, Avino Silver presented an update in exploration and the expansion project on the process facilities, and a PEA on the tailings project. Hecla presented an update on exploration activities at San Sebastian. Argonaut presented an exploration update on its recently acquired property adjacent to El Castillo mine. Candelaria presented an updated technical report on the Caballo Blanco property. Consolidated Zinc presented more high-grade zinc results from Plomosas, and Timmins/Alio presented an optimization plan on the San Francisco mine. ON DEALS AND CORPORATE ISSUES, Red Tiger received failure-to-file cease trade orders from the Ontario securities Commission. Prospero closed a deal with Fortuna for $1.5 M. Mexico Gold closed a debt with shares. Timmins Gold is now formally Alio Gold.

ON MEXICO ISSUES

  • Mexico kept during 2016 the title as the major silver producer of the world for the seventh year in a row, producing 182.6 M Oz, even with a small drop in production relative to 2015. For this year the Mexican production is expected to rise by 2.5 M Oz of silver, aided by the production of the San Julian and Palmarejo mines in Chihuahua. On a world basis the silver production fell by 32.6 M Oz, or 0.6%, to 885.8 M Oz.

ON EXPLORATION

  • Riverside Resources Inc. has initiated an extensive rock-chip sampling campaign at its Cecila project in Sonora, with the aim of increasing the extent of the known zones of gold mineralization. Surface access agreements are in place.
  • Arian Silver Corp. reported assay results from sampling from its three recently optioned lithium properties in Zacatecas. Results are up to 120 ppm Li at Columpio, 88 ppm Li at Pozo Hondo and 158 ppm Li at La Abundancia.
  • SilverCrest Metals Inc. discovered an unmined high grade vein immediately adjacent to Las Chis0pas main vein. The new vein has been named Giovvani, appears to be continuous for 400 to 500 m and 150 to 200 m along dip, averaging 2.0 m in thickness. Giovvani vein intercepts include 1.0 m @ 0.05 g/t Au, 306 g/t Ag; 2.3 m @ 0.7 g/t Au, 125 g/t Ag; 2.1 m @ 1.7 g/t Au, 215 g/t Ag; 2.1 m @ 3.4 g/t Au; 330 g/t Ag (including 0.6 m @ 10.8 g/t Au, 890 g/t Ag); 0.5 m @ 7.5 g/t Au, 1,095 g/t Ag; 2.3 m @ 3.6 g/t Au, 578 g/t Ag; 0.9 m @ 4.4 g/t Au, 564 g/t Ag.

ON MINING

  • Hecla Mining Co. presented first quarter 2017 financial and operating results, including figures from its operations in Mexico. At San Sebastian in Durango, 750.8 K Oz Ag, 6,284 Oz Au were produced, operating at 407 tpd. The cash cost after by-product credits was negative $3.27 per Ag Oz, the AISC after by-product credits was $0.43 per Ag Oz. Cash and cash equivalents stand at 176.8 M. Recent drill intercepts include 1.86 m @ 124 g/t Au, 12,420 g/t Ag; 1.92 m @ 25.5 g/t Au, 3,866 g/t Ag; 0.73 m @ 1.5 g/t Au, 572 g/t Ag; 0.94 m @ 3.7 g/t Au, 379 g/t Ag; 1.10 m @ 24 g/t Au, 6,118 g/t Ag; 2.13 m @ 0.9 g/t Au, 385 g/t Ag.
  • Golden Minerals Co. provided financial results for the first quarter 2017. During March the lease on the Velardeña oxide mill to Hecla Mining Co. was further lengthened until December 2018. During January 2017 was released an estimate of mineralized material for the Rodeo property in Durango. In February 2017 a preliminary economic assessment (PEA) was completed for the company’s Santa Maria property in Chihuahua. Electrum Global Holdings L.P. has been drilling the Celaya property in Guanajuato, as part of an earn-in agreement. Cash and cash equivalents stand at $2.1 M at the end of 2017, with no debt.
  • Pan American Silver Corp. presented first quarter results 2017, including figures from its operations in Mexico. Production was 1.63 M Oz Ag, 870 Oz Au; 0.96 M Oz Ag, 24,390 Oz Au, and 0.35 M Oz Ag, 1,330 Oz Au respectively at La Colorada in Zacatecas, Dolores in Chihuahua and Alamo Dorado in Sonora.
  • Excellon Resources Inc. reported Q1 2017 financial results. During the period the company processed 11.9 K tonnes @ 317 g/t Ag, 2.9% Pb, 4.1% Zn, with recoveries of 89.8% Ag, 81.3% Pb, 81.8% Zn to produce 108 K Oz Ag, 610 K Lb Pb, 838 K Lb Zn. The mine dewatering optimization plan has now 6 of 12 pumps working, with the water level droping by more than 2.8 m. Cash and cash equivalents of $5.7 M at the end of the period, and net working capital totaled $6.2 M.
  • GoGold Resources Inc. released financial results for Q1 2017. During the period the company sold 413 K Oz AgEq Oz for revenue of $7.1 M, operating at cash cost $9.80 per AgEq Oz and AISC $11.76 per AgEq Oz (Parral tailings, Chihuahua; Santa Gertrudis, Sonora).
  • Premier Gold Mines Ltd. announced operational and financial results, including figures from its Mercedes mine in Sonora, where 166.8 K tonnes were milled @ 4.34 g/t Au, 44 g/t Ag, to produce 22,164 Oz Au, 88.6 K Oz Ag. Recoveries were 95.4% Au and 37.3% Ag. And cash in co-product basis was $675 per Au Oz sold, and all-in sustaining cost of $785 per Au Oz. The 2017 drilling program has been increased to 50,000 m, with currently five rigs working from the surface and four from underground. Cash and cash equivalents stood at $110.7 M at the end of March.
  • Avino Silver & Gold Mines Ltd. presented the financial results for Q1 2017, period during which revenue was $8.1 M and net income after taxes $0.7 M. At the end of March the company had $17.7 M of cash and cash equivalents (Avino and San Gonzalo, Durango).
  • Americas Silver Corp. reported operational and financial results for the first quarter of 2017, period during which revenues of $15.2 M and a net loss of ($0.2) were obtained. The company purchased an option on the San Felipe project in Sonora for total payments of $7.0 M plus VAT. The cash balance at the end of March was $17.6 M (San Rafael, Cosalá, Sinaloa).
  • Sierra Metals Inc. reported Q1 2017 financial results, with revenue of $54.5 M. At Bolivar in Chihuahua, cash cost was $1.14 per CuEq pound, and AISC was $ 1.89 per CuEq pound. At Cusi, in Chihuahua, cash cost per AgEq Oz was $10.82, and AISC per AgEq Oz was $22.72. The company had $38.0 M in cash and cash equivalents at the end of the period.
  • Aura Minerals Inc. presented financial results for Q1, 2017, which include $34.9 M in revenue, and a net loss of ($5.02 M), (Aranzazu, Zacatecas)
  • Mag Silver Corp. disclosed financial results for the first quarter of 2017. A new resource estimate and design upgrades for the Juanicipio (Zacatecas) JV project with Fresnillo is to be completed on the second quarter. A 20,000 m 2017 exploration drill program was initiated after the quarter end. The company had cash and cash equivalents totaling $132.4 M at the end of the period.

ON FINANCING

  • Alset Minerals Corp. has filed documents with the TSX seeking final approval on their previously announced non-brokered private placement for gross proceeds of $369 K (Lithium properties, Zacatecas).

ON RESOURCES AND DEVELOPMENT

  • Avino Silver & Gold Mines Ltd. informed the installation of a fourth mill and flotation circuit on its San Avino mine is on progress, a positive PEA (Preliminmary Economic Assessment) was presented last April on the re-treating of the Avino mine tailings, a study is in progress to weight the different options to tailings management (backfill on underground, pit or new tailings dam). A 3,000 m, 18 holes, infill drill program has been expanded to include further 20 holes to test the gap zone between San Luis and Elena Tolosa, aiming to update the category of the resource. A small scale test pilot project is underway to test the reduction of bismuth content (to avoid smelter penalties) from the concentrate. At San Gonzalo testing of the zinc circuit continues in the effort to improve gold and silver recoveries.
  • Hecla Mining Co. updated development and exploration work at its San Sebastian mine in Durango. The company expects to transition from open pit to underground by the end of 2017. A ramp is under construction to connect the new portal with the existing workings. Drilling has focused on resource definition along the Middle and Francine veins, recently defining more than 9.6 km of mineralized strike length.
  • Argonaut Gold Inc. completed 11,540 m in 75 reverse-circulation (RC) holes at the North Target of its El Castillo mine in Durango. The North Target lies within the 420 hectare San Juan mineral concession recently acquired from Fresnillo PLC., and the drilling is part of an ongoing infill RC drill program outward from El Castillo open pit. Results include 99.1 m @ 0.64 g/t Au; 141.7 m @ 0.49 g/t Au; 153.9 m @ 0.53 g/t Au; 138.7 m @ 0.58 g/t Au, 111.3 m @ 0.54 g/t Au; 141.7 m @ 0.68 g/t Au.
  • Candelaria Mining Corp. announced an updated NI 43-101 technical report for the Caballo Blanco property in Veracruz. The report incorporates the results of 55 drill holes collared in 2012, which were not included in the last resource calculation. The new report includes 31.2 M tonnes @ 0.52 g/t Au as an indicated resource containing 521 K Oz Au, and 8.6 M tonnes grading 0.34 g/t Au containing 95 K Oz Au as an inferred resource.
  • Consolidated Zinc Ltd. confirmed the presence of high grade zinc on the Tres Amigos North zone, at its Plomosas property in Chihuahua. Six initial drill holes completed returned intervals as high as 1.5 m @ >30% Zn, 0.6% Pb, 52 g/t Ag; 1.85 m @ >30% Zn, 0.2% Pb, 11 g/t Ag; 0.5 m @ >30% Zn, 0.6% Pb; 0.5 m @ >30% Zn, 0.3% Pb. Other results include 2.2 m @ 2.8% Zn, 1.1% Pb; 0.6 m @ 6.6% Zn, 1.4% Pb; 0.5 m @ 5.9% Zn, 0.3% Pb; 0.6 m @ 8.5% Zn, 0.3% Pb; 0.6 m @ 5.3% Zn, 2.2% Pb.
  • Timmins Gold Corp. (in process to change name to Alio Gold Corp.) informed of a revitalization plan (i.e. pit push back) for its San Francisco mine in Sonora. Under this plan the production guidance is increased to 86 – 92 K Oz Au for 2017, and an average of 103 K Oz Au for a further six years at cash cost of $900 and AISC $935 per Au Oz. The updated reserves at San Francisco stand at 54.8 M tonnes @ 0.53 g/t Au containing 928.7 K Oz Au, measured and inferred resources of 74.8 M tonnes @ 0.54 g/t Au that contain 1.3 M Oz Au and 0.7 M tonnes of inferred resources containing 13 K Oz Au. The expansion capital adds up to $ 44.9 M from 2017 to 2019.

ON DEALS AND CORPORATE ISSUES

  • Red Tiger Mining Inc. has received failure-to-file cease trade orders from the Ontario securities Commission. The company aims to file the required 2016 annual filings by July 17, 2017 (La Luz, Sonora).
  • Prospero Silver Corp. closed the previously announced C$1.5 M strategic investment from Fortuna Silver Mines Inc. “Prospero will allocate C$1.2 million to drill testing selected projects and C$300k will be allocated towards Prospero’s generative efforts in Mexico. Fortuna will have the right to select one of the projects within 18 months from signing of the definitive agreement to joint venture with Prospero, potentially earning in to a 70% interest by spending US$8 million over 6 years and completing a Preliminary Economic Analysis on the selected property” (El Petate, Hidalgo)
  • Mexican Gold Corp. has issued an aggregate of 1.66 M shares to settle a debt of $478.9 K to certain officers and directors of the company (Las Minas, Veracruz).
  • Timmins Gold Corp. has formally changed name to Alio Gold Corp., expecting to be listed under the new name and ticker symbol on the Toronto Stock Exchange on March 16th.

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

On the picture below, shear zone within a granodioritic protolith, Central Chiapas. Photo by Jorge Cirett.

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Initiation of coverage by Align Research

http://www.ariansilver.com/assets/docs/nr/nr-2017-05-15-align-research-20170512143837.pdf

Arian Silver Corporation (“Arian Silver” or the “Company”), is pleased to announce that a commissioned research report has been published by Align Research. Certain highlights from the report are presented below and the full version of the report is available to download via the following link: http://www.alignresearch.co.uk/cpt-company/arian-silver/. Attractive silver and lithium projects at a compelling valuation Arian Silver listed on AIM in 2006 and brought the San José silver mine in Mexico back into production. However, low silver prices led to the mine being handed over to its creditors in 2016. Undaunted, the same team is now broadening the exploration focus for Arian to become a lithium play.