Vancouver, British Columbia / TheNewswire / October 18, 2017 – Harvest Gold Corporation (TSX.V:HVG) (“Harvest Gold” or the “Company”) and Evrim Resources Corp. (“Evrim”) (TSX.V:EVM) are pleased to announce soil sampling results from its Phase 1 exploration program at the high-grade Cerro Cascaron gold-silver project in Mexico.
The extensive soil sampling program covered an area of 4.5 kilometres by 1.6 kilometres north of the main gold vein field. Results have extended known veins, identified two new corridors and have highlighted a 1.4 kilometre-long, very strong gold-silver trend to the north of the highly prospective Serpiente Dorada vein. Highly anomalous soil samples, including one that assayed 1.38 grams per tonne (“g/t”) gold were also collected in the corridor where Serpiente Dorada intersects a newly identified, 1.8 kilometre long gold rich corridor (the “new vein corridor target”).
October 18, 2017 – Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI), is pleased to provide an update on Riverside-owned projects and upcoming growth plans during the final months of 2017. Riverside enters the fall season with C$4,000,000 in cash and less than 45,000,000 shares outstanding. The Company continues to advance its project portfolio through a combination of self-funded and partner-funded exploration programs, with a catalyst-rich six months ahead. Riverside will be providing a subsequent update on partner-funded exploration results and go-forward plans, including drilling in the near future. The summary below outlines some of the key developments and status updates for the projects Riverside geologists have been working on during the last quarter.
During the 41st week of the year (October 9th to October 15th, 2017), at least 24 press releases were announced by companies working in Mexico, including seven quarterly reports. ON MEXICO ISSUES: The Secretaría de Economía announced the liberation of over 195 K hectares of ground for staking. ON EXPLORATION: Eight companies disclosed exploration efforts during the week: In Sonora, Azure Minerals is about to start drilling its Oposura and Sara Alicia projects; Canuc Resources released underground and surface rock sampling results from its San Javier project; Colibri Resource released an exploration update of its Evelyn project; Silver Viper is drilling its Clemente project. In Sinaloa Chesapeake Gold commenced a 5,000 m drilling program focused in two prospects on its Yarely project. In Coahuila, Discovery Metals received the environmental permit to drill five of its projects; Silver Bull Resources released the results from the first two underground holes to test high grade structural feeders at its Sierra Mojada project. ON MINING: Endeavour Silver, Capstone Mining, Leagold Mining, Great Panther Silver, Alamos Gold, Gogold Resources and Alamos Gold reported preliminary third quarter results. Torex Gold signed a 25 year land agreement with the Puente Balsas Sur Ejido, needed for the exploration and operation of its Media Luna project in Guerrero. Telson Resources received the environmental permit for mine and related infrastructure on its Tahuehueto project in Durango. ON FINANCING: Colibri Resources settled a $10 K debt by issuing shares to one of its directors. Sierra Metals entered into an open market agreement with a consortium to raise up to $55 M on the NYSE market. Fortuna Silver’s CEO bought approximately US$430 K shares of the company in the open market. Oroco Resources intends to complete a non-brokered private placement to raise up to $600 K. ON RESOURCES AND DEVELOPMENT: Fortuna Silver released exploration results from its San Jose property in Oaxaca, including high-grade drilling results. ON DEALS AND CORPORATE ISSUES: No Relevant news.
ON MEXICO ISSUES
- The Secretaría de Economía (Bureau of Economy) released the long due and eagerly awaited second release of previously held land of 2017, ground that is now going to be open for mining concession applications. Over 44 K hectares of reduced land (from eleven concessions), 131 K hectares of abandoned concessions (95) and almost 20 K hectares of cancelled concessions (96) are to be available in one month for staking by individuals and corporations.
- Azure Minerals Ltd. is about to start drilling at its Oposura and Sara Alicia projects in Sonora. The environmental permit has been granted for both projects. At Oposura a total of 7,000 m of drilling is planned in 120 holes on a 1,400 by 400 m area. At Sara Alicia geological mapping, rock chip channel sampling, gridded soil sampling, and initial target identification has been completed. A zone of high grade gold and cobalt with samples of up to 39 g/t Au and up to 6% Co has been identified and is to be drill tested with 5-6 holes for a total of 450-500 m of diamond core.
- Canuc Resources Corp. reported high grade silver and gold from recent sampling of underground workings, and from the surface of the Carranza breccia zone at its San Javier project in Sonora. “Road construction, trenching and drill platform preparation have been completed and surface mapping and sampling are ongoing.” The focus is on the breccia zones found at the intersections of the two fault trends. Results include 0.5 m @ 10.3 g/t Au, 250 g/t Ag; 0.5 m @ 8.0 g/t Au, 246 g/t Ag; 1.23 m @ 6.0 g/t Au, 174 g/t Ag; 1.2 m @ 10.5 g/t Au, 220 g/t Ag; 1.6 m @ 9.5 g/t Au, 150 g/t Ag; 1.6 m @ 11.3 g/t Au, 100 g/t Ag; 0.9 m @ 5.1 g/t Au, 17,200 g/t Ag; 1.3 m @ 1.9 g/t Au, 6,230 g/t Ag; 1.4 m @ 2.0 g/t Au, 2,395 g/t Ag; 0.7 m @ 1.6 g/t Au, 150 g/t Ag; 2.5 m @ 1.1 g/t Au, 600 g/t Ag; 3.0 m @ 1.2 g/t Au, 470 g/t Ag.
- Chesapeake Gold Corp. commenced a 5,000 m diamond drill program at its 68,000 has Yareli project in Sinaloa. The phase I program is to focus on the Central and Loretos prospects. “At Central prospect Initial drill holes will test the four subparallel north – northwest trending stockwork structures up to one kilometre in length and associated extensive breccia bodies..” At Loretos three widely spaced holes are planned to test the west side of a “V” shaped IP anomaly which is over 3 km long and one km wide.
- Colibri Resource Corp. released a report on its 506 hectare Evelyn project in Sonora. Geological and structural mapping, as well as rock chip sampling were conducted. The property is underlain by Jurassic rhyolites, andesites and sandstones. Prospects highlighted include the Mine Working shear zone, the Cerro Rojo Fault and the Quartz Vein Swarm. Of 74 samples collected, 33 returned values greater than 0.1 g/t Au.
- Discovery Metals Corp. received drill permits for five of its projects from the Mexican environmental regulator, SEMARNAT. These permits cover the La Kika, Renata, Santa Rosa, La Minerva, and Jemi-Rare projects in northern Coahuila.
- Silver Bull Resources Inc. provided the results from two drill holes of its underground drill program targeting high-grade structures at its Sierra Mojada project in Coahuila. The first hole intersected 7 m @ 121 g/t Ag, 0.52% Cu, including 2 m @ 376 g/t Ag, 3.0% Cu. The second hole intersected 25.5 m @ 294 g/t Ag, 0.96% Cu, including 11.5 m @ 486 g/t Ag, 1.13% Cu and 4 m @ 966 g/t Ag, 2.0% Cu, with the hole entering and ending in an unmapped working. The results confirm the East-West continuity of the first of three structures to be drilled.
- Silver Viper Minerals Corp. is performing a 2,000 m drilling program at its Clemente project in Sonora. The diamond drilling is designed to target the down dip projection of the steep dipping quartz shear vein and adjacent quartz veining observed in accessible historical mine workings.
- Endeavour Silver Corp. reported production results for the third quarter 2017. At Guanaceví in Durango, 74.6 K tonnes were produced at a rate of 811 tonnes per day (tpd) @ 250 g/t Ag, 0.57 g/t Au and recoveries of 87.2% Ag, 89.5% Au, to produce. 522.9 K Oz Ag, 1,224 Oz Au. At Bolañitos, in Guanajuato, 114.5 K tonnes were produced at a rate of 1,245 tpd @ 85 g/t Ag, 2.15 g/t Au and recoveries of 81.1% Ag, 82.4% Au, to produce 253.8 K Oz Ag, 6,523 Oz Au. At El Cubo in Guanajuato, 133.6 K tonnes were produced at a rate of 1,452 tpd @ 135 g/t Ag, 1.35 g/t Au and recoveries of 83.7% Ag, 83.3% Au, to produce 485.4 K Oz Ag, 5,901 Oz Au. In July the production decision was made on El Compas project in Zacatecas. In August were received the permits for the mine and plant at Terroneras, Jalisco. Pending are the permits for the waste dumps and tailings areas.
- Torex Gold Resources Inc. signed a long term, common land lease agreement with the Puente Sur Balsas Ejido for the use of the land required for the exploration, construction and mining of minerals at its Media Luna project in Guerrero. The 25 year agreement can be revoked at the company’s discretion, with one year’s notice.
- Telson Resources Inc. received the environmental permit (MIA) authorizing the construction of a mineral processing facility, related mining facilities, plus infrastructure and necessary underground development at its Tahuehueto project in Durango.
- Capstone Mining Corp. announced production results for the quarter terminating at the end of September 2017. At Cozamin higher throughput than planned saw 223.8 K tonnes mined from underground and 223.4 K tonnes processed at a rate of 2,429 tpd, averaging 1.98% Cu, 0.8% Zn, 0.08% Pb, 42 g/t Ag; recoveries stood at 96.1% Cu, 65.7% Zn, 7.0% Pb, 79.7% Ag, to produce 15,688 tonnes of Cu concentrate, 2,463 tonnes of Zn concentrate and 20 tonnes of lead concentrate.
- Leagold Mining Corp. disclosed Q3 2017 gold production at the Los Filos mine in Guerrero. During the period the Los Filos mine produced 47,766 Oz Au.
- Great Panther Silver Ltd. released production results for the third quarter 2017. At the Guanajuato Mine Complex in Guanajuato, 76.1 K tonnes were milled @ 155 g/t Ag, 2.54 g/t Au; with recoveries of 89.8% Ag, 88.1% Au, to produce 341.6 K Oz Ag, 5,471 Oz Au. At Topia in Durango, 18 K tonnes were milled @ 362 g/t Ag, 0.97 g/t Au; with recoveries of 91.1% Ag, 67.1% Au, to produce 191.2 K Oz Ag, 377 Oz Au.
- Alamos Gold Inc. reported production for the third quarter 2017, including figures from its Mexican operations. At Mulatos (including La Yaqui) 36,300 Oz Au were produced, and 14,900 Oz Au at El Chanate, both in Sonora.
- GoGold Resources Inc. announced production for the quarter terminated at the end of September 2017. At its Parral tailings operation 353.4 K Oz Ag were produced. An improvement on the recoveries by changing agglomeration and heap parameters can be seen in the graphic below.
- Hecla Mining Co. reported preliminary production results for the third quarter 2017, including figures from its Mexican operations. At San Sebastian in Durango, the mill operated at 397 tpd to produce 880.9 K Oz Ag, 8,199 Oz Au.
- Colibri Resources Corp. has issued shares in the amount of $10,000 to settle an outstanding indebtedness due to Ed Stringer, a director of the company (Evelyn, Sonora).
- Sierra Metals Inc. entered into an open market Sale Agreement with Jefferies LLC, C. Wainwright & Co, LLC Scotia Capital (USA) Inc. and Noble Capital Markets Inc., on which the company may during the term of the agreement sell common shares in the NYSE up to the amount US$55 M in gross proceeds. No common shares will be offered or sold in Canada (Cusi and Bolivar mines, both in Chihuahua).
- Fortuna Silver Mines Inc. announced that Jorge A. Ganoza, CEO of the company increased his equity position in Fortuna by acquiring 131,800 common shares on the open market, valued at close to US$430 K. (San Jose, Oaxaca).
- Oroco Resource Corp. intends to complete a non-brokered private placement to raise up to $600 K of gross proceeds (Xochilapa, Guerrero).
ON RESOURCES AND DEVELOPMENT
- Fortuna Silver Mines Inc. updated exploration efforts at its San José mine in Oaxaca, where four rigs are testing the Trinidad-Bonanza-Stockwork complex, the Trinidad North Extension and the sub-parallel Victoria vein (formerly Ocotlan vein). Relevant estimated true width intercepts (TW) comprise 4.1 m @ 247 g/t Ag, 1.8 g/t Au; 21.0 m @ 153 g/t Ag, 0.9 g/t Au; 3.6 m @ 281 g/t Ag, 1.2 g/t Au; 4.5 m @ 356 g/t Ag, 3.5 g/t Au; 3.7 m @ 1,106 g/t Ag, 6.3 g/t Au in the Victoria vein, and 6.7 m @ 218 g/t Ag, 1.3 g/t Au; 2.2 m @ 195 g/t Ag, 1.1 g/t Au; 2.2 m @ 195 g/t Ag, 1.1 g/t Au at the Trinidad/Bonanza veins and Stockwork.
ON DEALS AND CORPORATE ISSUES
Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.
On the picture below, secondary copper minerals around a quartz veinlet with oxidized sulfides, which is cutting an intrusive rock on a prospect of the Durango Altiplano. Photo by Jorge Cirett.
Mexican Gold Corp. (“Mexican Gold” or the “Company”) (TSX-V: MEX / OTCMKTS: SRXLF / FRA: 4QW1 is pleased to announce that resource expansion drilling has intersected long intervals of strong chalcopyrite, bornite and magnetite mineralization totaling 77.2 metres at the El Dorado / Juan Bran zone at its Las Minas property.
Hole LM-17-ED-40 intersected a 21 metre interval of chalcopyrite, bornite and magnetite mineralization at a depth of 83.0 metres and continuing to 104 metres. A second interval of 56.2 metres starting at 123.6 metres and continuing to 179.8 metres contains stronger mineralization (see Figure 1: LM-17-ED-40 Example of Chalcopyrite Mineralization). The upper 21 metre mineralized interval is outside the outline of the mineral resource estimate, and the lower intersection extended the mineralization a further 23 metres below the resource lower constraint. The true widths of the mineralized intervals are approximately 94% of the reported intersections.
TORONTO, Oct. 12, 2017 (GLOBE NEWSWIRE) — Discovery Metals Corp. (TSX-V:DSV) (“Discovery Metals” or the “Company”) is pleased to announce that it has been granted drill permits for five of its projects from Mexican regulator SEMARNAT (Mexico’s Secretary of Environment and Natural Resources).
The Company has option agreements on seven projects (including the five for which permits have just been granted), all located in northern Coahuila State within an historic high-grade and past producing silver-zinc-lead belt. All projects display alteration and mineralization styles suggestive of carbonate-replacement style mineralization, and include numerous historical artisanal workings. The projects have not been explored with modern methods and all are virtually undrilled. The newly granted permits cover the La Kika, Renata, Santa Rosa, La Minerva, and Jemi-Rare projects.
Discovery Metals President and CEO, Taj Singh commented: “This is a significant step for us. Our company came into existence in August, so we are very pleased to have received these permits in such a short time. Our newly-formed team has been working diligently to develop a detailed exploration plan and has prioritized a number of high-impact targets. We expect to be drilling on at least one project before the end of the year.”
Dieppe, New Brunswick–(Newsfile Corp. – October 11, 2017) – Colibri Resource Corporation (TSXV: CBI) (“Colibri” or the “Company”) is pleased to announce the release of a report by Dr. Jonathan Nourse, Professor and Chair of the Geological Sciences Department at the California State Polytechnic University in Pomona, California.
Dr. Nourse’s report summarizes results of his reconnaissance including geological mapping, rock chip sampling and structural investigations conducted on the 506 hectare Evelyn property. Dr. Nourse walked approximately half of the property and focused on sampling and mapping endeavors on outcrops that had quartz veins with hematite. In addition to several isolated occurrences of anomalous gold, his work identified three important gold-bearing zones (described below) that yielded multiple assays between 0.5 and 26 grams per ton Au.
During the 40th week of the year (October 2nd to October 8th, 2017), at least 25 press releases were announced by companies working in Mexico, including two quarterly reports. ON MEXICO ISSUES: a blockade to Goldcorp’s Peñasquito mine entrance in Zacatecas was lifted by assembling a government sponsored round table to assess protesters arguments. ON EXPLORATION: Activity seems to be gaining pace, with ten companies presenting press releases on their properties. In Sonora, Silver Viper has commenced the first drilling campaign on its Clemente project; Aztec Minerals disclosed interesting Au-Cu values from trenches at its Cervantes project; Canuc Resources released drilling results from its San Javier property. In Chihuahua, Sierra Metals informed on thick high-grade intercepts from drill testing deep geophysical targets at its Bolivar mine; Radius Gold disclosed initial rock chip sampling from its Los Tarros property; Harvest Gold announced exploration results on the Cascaritas prospect within its Cerro Cascaron project. In Sinaloa, Santana Minerals released metallurgical results from its Cuitaboca property. In Zacatecas and San Luis Potosi Alset Minerals released lithium and potassium results from auger drilling on 13 additional salars. In Veracruz Almadex Minerals disclosed good assay results on a long interval of its last hole at El Cobre; Mexican Gold informed that the first hole of a new drill campaign at its Las Minas property intersected two mineralized intervals containing chalcopyrite and bornite. ON MINING: Telson announced that mill clean up and refurbishment is nearing completion at its Campo Morado mine in Guerrero. US Antimony is to increase production at three of its four mines in Mexico. Americas Silver produced its first lead and zinc concentrates from the San Rafael mine in Sinaloa. Alio Gold and Coeur Mining presented third quarter 2017 reports. ON FINANCING: Southern Silver closed the final tranche of its private placement, raising $502 K; Azure Minerals is to seek shareholder approval to share consolidation. ON RESOURCES AND DEVELOPMENT: Candelaria Mining retracted the environmental permit on its Caballo Blanco project in Veracruz. Kootenay Silver announced assay results from drilling by partner Pan American Silver on its La Negra prospect in Sonora. ON DEALS AND CORPORATE ISSUES: Magellan Resources announced that its purchase of the SDA mill in Nayarit remains on track to completion. Radius Gold signed a binding agreement with a private Mexican company on Los Tarros property in Chihuahua. Prospero Silver received authorization from the TSX on a related third party agreement.
ON MEXICO ISSUES
- Goldcorp suffered entrance blockades at Peñasquito, in Zacatecas. For a week the entrance to the Peñasquito mine in Zacatecas was blocked by protesters. The blockade was terminated by the establishment, aided by the federal government, of a round table to discuss the protesters grievances. The table is to be leaded by the Zacatecas State government.
- Silver Viper Minerals Corp. has mobilized a drill rig to its Clemente project in Sonora. The drill program envisages 2,000 m of diamond core drilling, focusing on the El Mundo and Nuevo Mundo areas, where Ag-Au-base metals mineralization is hosted by quartz shear veins, quartz stockworks and hematitic vein breccias. The best sample to date is from the El Mundo area is 0.5 m wide @ 1,895 g/t Ag, 4.46 g/t Au, 1.9% Pb, 1.6% Zn. The environmental permit for drilling has been approved, with land and access permit agreements in place.
- Kootenay Silver Inc. reported that Aztec Minerals Corp. disclosed attractive sampling results from trenching in the Jasper prospect at the Cervantes property in Sonora (which is under option from the former by the latter). The new manual trenching connected two previous trenches, extending Cu-Au-Mo mineralization for 92.3 m @ 0.52% Cu, 0.62 g/t Au, 76 ppm Mo, staying open in both directions. The rock is highly leached quartz feldspar porphyry with chrysocolla and neotocite as oxide copper minerals. A 50 by 50 m soil grid was completed over the Jasper project.
- Alset Minerals Corp. released results from auger sampling on 13 additional salars in Zacatecas and San Luis Potosi. “Of the 13 salars sampled, 9 had average lithium grades exceeding 200 ppm, with 4 salars averaging lithium grades of around 400 ppm and higher…”. Dry lake sediment samples were collected using a hand-held motorized auger, or a hammer and hollow-tube sampling method, and assaying the material collected between 0.5 and 1.0 m of depth. The Caliguey salar averaged 769 ppm Li and 3.4% K; the Hernandez salar averaged 556 ppm Li, 1.6% K; the Chapala salar averaged 416 ppm Li, 1.2% K.
- Almadex Minerals Ltd. disclosed assays for the last hole at the Norte area of its El Cobre property in Veracruz. Noteworthy intervals comprise 481.65 m @ 0.67 g/t Au, 0.27% Cu, including 187.25 m @ 1.02 g/t Au, 0.33% Cu (from 354.00 to 541.25 m). The hole was drilled to test for continuity of mineralization between two other holes within the area.
- Sierra Metals Inc. informed that the first four holes to test 22 high priority targets identified with the recently completed Titan 24 geophysical survey intersected wide high-grade copper bodies in three different zones with no previously known mineralization. The intercepts include 25.3 m @ 0.38 g/t Au, 31 g/t Ag, 1.55% Cu, 1.95% Zn; 28.65 m @ 0.34 g/t Au, 34 g/t Ag, 1.97% Cu, 0.91% Zn; 13.05 m @ 1.79 g/t Au, 37 g/t Ag, 2.05% Cu; 33.4 m @ 0.10 g/t Au, 32 g/t Ag, 1.04% Cu, 0.20% Zn. The four intercepts are deep seated, between 340 m and 492.90 m in the core, along length (Note of compiler.- This seems a significant discovery).
- Canuc Resources Corp. announced that the third hole at its San Javier project in Sonora intersected the Santa Rosa vein in two splays, the first with 0.37 m @ 156 g/t Ag, 0.39 g/t Au, 1.0% Pb, 5.6% Zn, and the second with 1.48 m @ 1,514 g/t Ag, 2.91 g/t Au, 4.2% Pb, 5.6% Zn. Canuc has concluded the agreement to acquire the Tule 1 concession, which envelops the property to the NE, adding considerable strike length to the Santa Rosa vein. In the NE land package is the Carranza breccia zone, with 11 m @ 274 g/t Ag on the surface, and the Cerro Colorado breccia zone, with 11.3 m @ 285 g/t Ag.
- Radius Gold Inc. has signed a binding agreement with a private Mexican company to option the 473 has Los Tarros project in Chihuahua. Several breccia bodies occur within a 3.5 km by 1 km area, with the largest breccia exceeding 250 m by 250 m. The volcanic hosted explosive breccias are cemented by silica and iron oxides. The average of 26 samples collected is 1.42 g/t Au, 66 g/t Ag. At the Rosario breccia (>150 m by 60 m) an old pit returned 10 m @ 2.95 g/t Au, 18 g/t Ag, staying open in all directions. Other significant breccia bodies include Regalito, La Bufa (the only one hosted in granodiorite), San Nicolas and San Miguel.
- Mexican Gold Corp. informed that step-out drilling at its Las Minas property in Veracruz intersected two intervals of chalcopyrite-bornite-magnetite mineralization in the first hole drilled beyond the current western limit of the El Dorado/Juan Bran zone. A 3.0 m interval contains magnetite and an estimated chalcopyrite content of up to 3% by volume. An 8.0 m interval further downhole is a mineralized exoskarn with up to an estimated 5% chalcopyrite by volume, and visible bornite and magnetite. Assays are pending on these core-length intervals.
- Santana Minerals Ltd. reported good results from initial metallurgical test work on composite samples from three drill holes from the Mojardina prospect at its Cuitaboca project in Sinaloa. A 75 micron, 48 hours, bottle-roll standard carbon in leach test on the three holes returned 93.1%, 95.3%, 98.4% silver recoveries respectively; the rougher flotation test achieved 93.6%, 88.2%, and 86.8% silver respectively.
- Harvest Gold Corp. identified six silver-rich polymetallic veins at the Cascarita prospect of its Cerro Cascaron Project in Chihuahua. High grade silver with strong Pb and Zn values were sampled in historic adits. The six veins are within a 900 m by 300 m corridor, attain up to 3.3 m in width and display colloform and drusiform quartz textures, as well as local amethyst quartz. Vein textures indicating boiling are preserved at one of the veins, as quartz pseudomorphs after bladed calcite. Results include 1.4 m @ 114 g/t Ag, 5.2% Pb, 1.3% Zn; 2.0 m @ 127 g/t Ag, 8.7% Pb, 0.5% Zn; 2.3 m @ 311 g/t Ag, 1.6% Pb, 0.3% Zn; 2.1 m @ 245 g/t Ag, 6.4% Pb, 0.5% Zn; 3.3 m @ 104 g/t Ag, 2.4% Pb, 0.5% Zn.
- Telson Resources Inc. announced that mill clean up and refurbishment is nearing completion at its Campo Morado mine in Guerrero. Underground mining is being ramped up, having delivered 25 K tonnes to the coarse ore patio. Ore crushing is operational, putting 5 K tonnes to the crushed ore stockpile. Commercial production at a 1,400 tonnes per day (tpd) is projected to be achieved during October, while production levels to the 2,500 tpd mill capacity is to take 6 to 12 months.
- United States Antimony Corp. plans to increase production at three of its four mines in Mexico. At Wadley, in San Luis Potosi, the gravity mill will process lower grade ore (not direct shipping ore), which could results in a 25-50% increase in production. At Soyatal in Queretaro, direct shipping ore is to be produced once new powder magazines are built. In Zacatecas a mine road to the Guadalupe mines is to be repaired, allowing mining to be resumed at the Santa Monica mine. The Los Juarez mine in Queretaro is awaiting a permit from SEMARNAT for the cyanide circuit at the Puerto Blanco mill.
- Americas Silver Corp. announced that the first lead and zinc concentrates produced from its San Rafael project at its Cosalá operation in Sinaloa were produced during the last week of September. Commercial production is expected to be reached before the end of the fourth quarter, when the Nuestra Señora mine is expected to enter in care and maintenance.
- Alio Gold Inc. released 3rd quarter preliminary production results from its San Francisco mine in Sonora. 1.9 M tonnes of ore @ 0.40 g/t Au and 5.2 M tonnes of waste were moved (3.15 waste to ore strip ratio) to produce 19,429 Oz Au, 8,808 Oz Ag. Production guidance stays on track to produce 88 -90 K Oz Au during 2017.
- Coeur Mining Inc. disclosed third quarter 2017 production results, including figures from its Mexican operations. At Palmarejo, in Chihuahua, 413.1 K tonnes were milled @ 172 g/t Ag, 2.49 g/t Au, achieving recoveries of 83.6% Ag, 83.1% Au, to produce 1.91 M Oz Ag, 28,948 Oz Au
- Southern Silver Exploration Corp. closed the final tranche of its previously reported private placement, for gross proceeds of $502 K. The three tranches gathered total gross proceeds of $3.58 M (Cerro Las Minitas, Durango).
- Azure Minerals Ltd. is to seek shareholder approval for consolidation of the issued capital through the conversion of every twenty existing shares into one share.
ON RESOURCES AND DEVELOPMENT
- Candelaria Mining Corp. decided to retract the environmental permit for the Caballo Blanco project in Veracruz, citing the current political climate and upcoming state and federal elections. “…The postponing of the permit will allow Candelaria to optimize certain aspects of the project and improve upon existing and establish new relationships with our stakeholders. “
- Kootenay Silver Inc. announced the results of 13 infill drill holes completed by Pan American Silver Corp. on its La Negra property in Sonora. Highlighted intercepts are 34.3 m @ 159 g/t Ag (including 8.2 m @ 306 g/t Ag); 17.1 m @ 192 g/t Ag (including 3.55 m @ 597 g/t Ag); 48.7 m @ 281 g/t Ag (including 1.95 m @ 3,004 g/t Ag, 1.0 m @ 2,146 g/t Ag, 5.35 m @ 558 g/t Ag); 21.0 m @ 274 g/t Ag (including 1.1 m @ 3,018 g/t Ag); 31.8 m @ 403 g/t Ag (including 8.85 m @ 1,098 g/t Ag); 29.25 m @ 138 g/t Ag; 38.7 m @ 289 g/t Ag (including 7.6 m @ 674 g/t Ag); 76.35 m @ 236 g/t Ag; 53.8 m @ 174 g/t Ag (including 12.15 m @ 308 g/t Ag); 5.35 m @ 571 g/t Ag.
ON DEALS AND CORPORATE ISSUES
- Magellan Gold Corp. announced that its purchase of the SDA mill in Nayarit is on track to be closed by the end of October 2017.
- Radius Gold Inc. has signed a binding agreement with a private Mexican company to option the 473 has Los Tarros project in Chihuahua. Radius can earn a 100% interest in the project by making an immediate payment of US5 K, and staged payments over four years totaling US$1.68 M, of which US$1.2 M is a final payment at the end of the four year period. A 2% NSR can be bought by Radius for US$1 M for each 1%.
- Prospero Silver Corp. has received TSX approval of the option to own agreement with Exploraciones Altiplano S.A. de C.V. regarding Altiplano’s Buenavista claims in Durango. The agreement constitutes a “related party transaction” under the TSX policies.
Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.
On the picture below, the Peña Colorada mine pit in Colima. Photo by Jorge Cirett.
October 6, 2017, Vancouver, BC – Prospero Silver Corp. (TSXV: PSL) (“Prospero” or the “Company“) is pleased to announce that it has received final TSX Venture Exchange approval of the option to own agreement (the “Option Agreement“) between the Company, its Mexican subsidiary Minera Fumarola, S. A. de C. V., and Exploraciones del Altiplano, S.A. de C.V. (“Altiplano“). The Option Agreement provides the Company with an option to earn a 100% right, title and interest in and to Altiplano’s Buenavista claims located in Durango, Mexico, subject to the reservation by Altiplano of a 2% net smelter return royalty. For full particulars, please see the Company’s news release of August 1, 2017.
A director of the Company owns or controls, indirectly over 20% of the issued shares of Altiplano. Pursuant to TSXV Policy 5.9 and Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions (“MI 61-101“), the Option Agreement constitutes a “related party transaction” as a result of the director’s relationship with Altiplano. The Company relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the transaction did not exceed 25% of the Company’s market capitalization.
Vancouver, Canada: Radius Gold Inc. (TSX-V: RDU) is pleased to announce new high grade channel sampling results from its recently optioned Amalia Project located in the State of Chihuahua, Mexico (see company news release dated 22 June 2017). Initial exploration results have been received from 272 surface and underground rock chip samples, including the following highlights from continuous chip sampling:
- 4m at 6.04 g/t Au and 1702 g/t Ag from Guadalupe Target
- 30m at 0.58 g/t Au and 151 g/t Ag from Campamento Target
- 1.5m at 114 g/t Au and 57 g/t Ag from Dulces Target
The Amalia Project is located 25 km SW of the historic Guadalupe y Calvo mining district in Chihuahua and hosts high grade epithermal silver-gold mineralization. The Project is unexplored, with only minor historic artisanal-scale mining of surface outcrop known. Epithermal Au-Ag mineralization has been sampled by Radius in several veins, vein breccias and disseminated zones over 3.5km of strike length and a 600m vertical interval following the trace of a large regional fault zone. After optioning the 380ha project in June 2017, Radius staked an additional 10,000 hectares surrounding the Amalia Project, covering 3 new regional target areas. Radius established a 10 man camp at Amalia and completed an initial exploration program comprising geological mapping, prospecting and channel sampling of the main targets.
TORONTO, Ontario, September 19, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce high grade intercepts in the step-out drilling in the quadrant to the northwest of the current Sub-Sill resource area, associated with its El Limon-Guajes Mine (ELG) in Southwest Mexico. Highlighted intercepts from this step-out program include 41.4 g/t Au over 19.3m in a 40-meter step-out to the north, in borehole SST-71. To the northwest, in a 130-meter step-out, borehole SST-91 intercepted 35.9m of 5.7 g/t Au, including 3.5m of 32.2 g/t Au, and another 3.5m of 14.1 g/t Au. In a more westerly direction, in a 240-meter step-out, borehole SST-88 intercepted 11.6 g/t Au over 3.6 meters. The Company also announced results of an additional 15 holes of the in-fill program that will contribute to the next resource estimate, including 32.2 g/t Au over 29.3m in borehole SST-72.