The Mining and Exploration News in Mexico: Highlights on the Second Week of August, 2019

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By Jorge Cirett

During the 32nd week of the year (August 5th to August 11th, 2019), at least 36 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, The president of Mexico announced in a political rally that no more mining concessions are to be granted during his term in office. ON EXPLORATION, In Chihuahua, Kootenay has mobilized a drill rig to its Columba property. In Coahuila, Discovery Metals released high-grade results from underground sampling at Minerva. In Zacatecas, Alien Metals carried out surface sampling at Los Campos, Donovan and San Celso projects; Advance Gold started an IP survey at Tabasqueña. ON MINING, Gold Resource, Premier Gold, Hecla Mining, Golden Minerals, First Majestic, Coeur Mining, Argonaut Gold, Pan American Silver, Avino Silver, Endeavour Silver, Alio Gold, Torex Gold, Fortuna Silver and GoGold reported second quarter production and/or financial results for the second quarter. Mexus Gold poured first gold at its Santa Elena mine in Sonora. ON FINANCING, Excellon Resources entered into an agreement with a sole bookrunner for gross proceeds of $10 M. Santacruz Silver granted options to its directors, officers, employees, consultants and advisors. Oroco closed a first tranche for $900 K. Impact Silver completed the first series of a round of financing for $2.4 M in gross proceeds.   ON RESOURCES AND DEVELOPMENT, US Antimony continues mining at Los Juarez, Queretaro. Hecla presented drill results from San Sebastian, Durango. Orla Mining filed the FS on Camino Rojo Oxide project. VVC Exploration approved the construction of a pilot plant on its Northern Mexico Copper project. Minera Alamos received the needed environmental approval for mine construction at Santana, Sonora. Goldplay Exploration compiled all the exploration information on a 6 km trend outside the known resource in San Marcial, Sinaloa ON DEALS AND CORPORATE ISSUES, Discovery Metals filed an early warning report in respect to its holdings in Levon Resources. Tamino Minerals is working to remove the stop sign to become current on the OTC. Minera Alamos reported the retirement from the Board of Directors of Mr. Chester Millar, (a long time player in the Mexican Mining scene). Mako Mining informed the near completion of production from La Trinidad mine in Sinaloa. Chesapeake Gold re-purchased a 1% NSR from Wheaton Precious Metals. ON SOCIAL RESPONSIBILITY. Argonaut Gold engaged in multiple community projects during the second quarter on its operations at San Agustin (Durango), El Castillo (Durango), La Colorada (Sonora) and La Paz (Baja California Sur).

ON MEXICO ISSUES

  • No more mining concessions in my term: AMLO. The president of Mexico, Andres Manuel Lopez Obrador, announced this Sunday (August 11th, 2019) in a political rally in Concepcion del Oro, Zacatecas, that under his term no more mining concessions are to be granted. “To give concessions of the mining regions to national and foreign companies was a policy forwarded since the time of (Carlos) Salinas de Gortari, and up to 80 million hectares were delivered for mining exploitation. To grasp it: let’s think in our territory. Mexico has 200 million hectares, and 80 million hectares, about 40 percent of the national territory. Never in History so much of our sovereign soil had been transferred”, he said. He also reiterated that current concessions are to continue, but no new ones are to be delivered. “We are not to cancel (the concessions), but we are not to continue delivering new concessions for mining exploitation. Because it was too much what was delivered. If we analyze it, we are going to conclude that it wasn’t delivered to produce, but to speculate financially ………. With what has been delivered they have to produce. That’s the main purpose and not speculation. What we ask the mining companies is, first, take care of the environment, that no territory is destroyed, not to act as it is done in other countries”. He asked for Mexican miners to be paid as in the United States, or Canada, and that the same environmental rules be applied, also making a call for the salaries of workers to be raised, with the same benefits. (Editor’s note.- All the president arguments can be easily refuted to show that granting mining concessions is, and has been, very helpful for the country and countless of Mexicans. But there is no valid argument to present to the president that on the one hand is calling for more investment, while in the other hand is closing the door to it.)

ON EXPLORATION

  • Kootenay Silver Inc. has mobilized a drill rig to commence a 3,000 m core drill program at its Columba project in Chihuahua. “The first 12 holes of the drill program will be designed to test the F vein where underground development work extended to 200 meter depth and the historic mining occurred”.
  • Alien Metals Ltd. carried out some surface rock sampling at its Donovan, Los Campos and San Celso projects in Zacatecas, results pending.
  • Advance Gold Corp. started a 800 x 500 m 3D induced polarization (IP) geophysical survey on its Tabaqueña project, Zacatecas. The goal of the survey is to assess the depth potential below the near surface mineralized zone that was encountered in the andesites, with the graphitic phyllites below still open at depth.
  • Discovery Metals Corp. released assay results for 112 underground samples from its drill permitted Minerva Ag-Zn-Pb project in Coahuila. Highlighted results from the Minerva mine include 0.4 m @ 8,880 gpt Ag, 8.7% Zn, 43.2% Zn, 2.30% Cu, 0.3 m @ 1,200 gpt Ag, 24.8% Zn, 18.2% Pb, 0.15% Cu; 0.2 m @ 1,340 gpt Ag, 20.8% Zn, 19.6% Pb, 0.11% Cu; 0.9 m @ 517 gpt Ag, 5.7% Zn, 3.3% Pb, 0.07% Cu in veins, 0.3 m @ 1,485 gpt Ag, 8.6% Zn, 32.1% Pb, 0.10% Cu; 0.3 m @ 1,145 gpt Ag, 10.8% Zn, 34.8% Pb, 0.10% Cu; 0.5 m @ 220 gpt Ag, 34.6% Zn, 13.2% Pb, 0.05% Cu; 0.4 m @ 1,050 gpt Ag, 5.8% Zn, 26.4% Pb; 1.4 m @ 131 gpt Ag, 22.2% Zn, 2.7% Pb, 0.04% Cu in mantos. Underground samples from the Concordia area returned 0.7 m @ 848 gpt Ag, 2.7% Zn, 12.5% Pb, 0.24% Cu; 0.8 m @ 320 gpt Ag, nil Zn, 13% Pb, 0.06% Cu; 1.1 m @ 267 gpt Ag, 0.4% Zn, 6.3% Pb, 0.06% Cu in vein and limestone. At Tercia area, samples from a small working in diorite returned 0.5 m @ 226 gpt Ag, 0.2% Zn, 15.5% Pb; 0.5 m @ 181 gpt Ag, 0.2% Zn, 10.0% Pb; 1.3 m @ 124 gpt Ag, 3.2% Zn, 6.1% Pb in breccias (fault zones?).

ON MINING

  • Mexus Gold US. has poured gold at its Santa Elena mine in Sonora (not to mistake for First Majestic’s Santa Elena mine, also in Sonora). The company recovered gold from its first heap leach pad using its Merrill Crowe gold recovery system. Mexus continues to mine and crush ore for the 2nd lift on heap leach pad #1.
  • Gold Resource Corp. presented production results for the second quarter 2019. At the Oaxaca’s Mining Unit 7,881 Oz Au, 466.5 K Oz Ag, 482 tonnes Cu, 2,304 tonnes Pb, 6,054 tonnes Zn were produced. At the Arista mine 115.8 K tonnes were milled @ 1.87 gpt Au, 92 gpt Ag, 0.40% Cu, 1.96% Pb, 4.77% Zn. At the Aguila open pit mine 8,872 tonnes were milled @ 1.39 gpt Au, 43 gpt Ag. At the Mirador mine 6,737 tonnes were milled @ 1.10 gpt Au, 201 gpt Ag. The company had $7.93 M of cash and cash equivalents by the end of the period.
  • Premier Gold Mines Ltd. reported operating results for the second quarter 2019, including figures from its Mexican operations. At Mercedes, in Sonora, 167.6 K tonnes were milled @ 3.0 gpt Au, 27.2 gpt Ag, recovering 95.9% Au, 35.0% Ag to produce 15,532 Oz Au, 51,354 Oz Ag. Co-product cash cost was $1,053 per Oz Au, and the co-product all-in-sustaining cost was $1,254 per Oz Au. On by-product basis, cash cost was 1,044 per Oz Au and AISC $1,252 per OZ Au. A total of 11,281 m of drilling targeted the Diluvio, Marianas and Barrancas veins “to replace reserves support mine production, test extensions of the main mine trends and to test new geological targets.”
  • Hecla Mining Co. presented second quarter 2019 results, including figure from its operations in Mexico. At San Sebastian, Durango, 463.7 K Oz Ag, 3,547 Oz Au were produced at by-product cash cost $9.22 per Oz Ag and by-product AISC$15.50.
  • Golden Minerals Co. released financial results for the second quarter 2019. An important point on the report is the still to be completed $22 M sale of the Velardeña, Santa Maria and Rodeo properties, as well as the Velardeña mill, to Grupo Autlan. Golden had a net loss of $2.5 M , ending the period with $1.8 M in cash and cash equivalents.
  • First Majestic Silver Corp. announced financial results for the second quarter 2019. During the period 3.2 M Oz Ag, 6.4 M OZ AgEq were produced at cash cost $6.84 per Oz Ag, and AISC $ 14.76 per Oz Ag on a consolidated basis from its San Dimas (Durango), Santa Elena (Sonora), La Encantada (Coahuila), San Martin (Jalisco), La Parrilla (Durango), Del Toro (Zacatecas). At the end of the period the company had $94.5 M in cash and cash equivalents.First Majestic production table1
  • Coeur Mining Inc. reported second quarter 2019 financial results, including figures from its Mexican operations. At Palmarejo, in Chihuahua, 447.7 K tonnes were milled @ 2.18 gpt Au, 147 gpt Ag, recovering 87.7% Au, 81.8% Ag, to produce 28,246 Oz Au, 1.73 M Oz Ag at adjusted CAS $741 per Oz Au and adjusted CAS $9.17 per Oz Ag. Production started and is to be ramped up 400 tonnes per day (tpd) at La Nacion deposit.
  • Argonaut Gold Inc. announced its operating and financial results for the second qurter of 2019. At Cerro del Gallo in Guanajuato, Argonaut is advancing on the pre-feasibility study, whereas at San Antonio in Baja California participated in a public information meeting regarding the environmental impact assessment process, while advancing in environmental permitting. At El Castillo, Durango, 2.3 M tonnes of ore @ 0.39 gpt Au, 3.49 M tonnes of waste were moved at a rate of 64 K tonnes per day (tpd) to produce 14,361 Oz Au, 29,791 Oz Ag at cash cost $976 per gold equivalent ounce. At San Agustin (Durango), 1.96 M tonnes of ore @ 0.39 gpt Au, 1.41 M tonnes waste were moved at 37 K tpd to produce 12,684 Oz Au, 43,097 Oz Ag at cash cost $910 per gold equivalent ounce. At La Colorada (Sonora) 1.19 M tonnes of ore @ 0.46 gpt Au, 5.9 M tonnes of waste were moved at 78 K tpd to produce 11,723 Oz Au, 35,485 Oz Ag at cash cost $894 per gold equivalent ounce.
  • Pan American Silver Corp. reported unaudited results for the second quarter 2019, including figures from its Mexican operations. At La Colorada, in Zacatecas, 2.04 M Oz Ag, 1.1 K Oz Au were produced at cash cost $2.82 per Oz Ag and AISC $5.07 per Oz Ag. At Dolores, in Chihuahua, 1.23 M Oz Ag, 28.5 K Oz Au were produced at cash cost $6.87 per Oz Ag and AISC $22.30 per Oz Ag. “Drilling at the La Colorada mine has further defined the skarn mineralization, indicating a high concentration of base metal and silver mineralization over large widths”. By the end of the period the company had cash and shorth-term investments for $138.8 M, and working capital of $793.1 M.
  • Avino Silver & Gold Mines Ltd. released consolidated financial results for the second quarter 2019. During the period 200.9 K tonnes were milled to produce 426.1 K Oz Ag, 1,609 Oz Au, 1.14 M Lb Cu, or 599.5 K Oz AgEq, with consolidated cash cost per AgEq ounce of $10.89, and AISC $13.10 per AgEq ounce. At the end of the quarter Avino held $3.4 M of cash, and a working capital of $8.7 M.
  • Endeavour Silver Corp. released its financial results for the second quarter 2019. Consolidated production from its Guanacevi (Durango), Bolañitos (Guanajuato), El Cubo (Guanajuato) and El Compas (Zacatecas) mines was 1.06 M Oz Ag, 9,558 Oz Au, or 1.8 M Oz AgEq at an all-in-sustaining cost of $20.90 per Oz Ag net of gold credits. During the period received the final tailings permit for its Terronera project in Jalisco, and reported positive drill results from Bolañitos and Guanacevi.
  • Alio Gold Inc. reported second quarter 2019 results, including figures from its operations in Mexico. At San Francisco, in Sonora, produced 10,230 Oz Au, 5,112 Oz Ag, with a by-product cost of $1,077 per Oz Au and an AISC of $1,079 per Oz Au. In January 2019 Alio stopped active mining in the San Francisco pit and focused on processing the low grade stockpile, which is to continue until the end of the year, after which only residual leaching is to go on.
  • Torex Gold Resources Inc. announced financial and operating results for the second quarter 2019. At El Limon-Guajes in Guerrero, 145.7 K tonnes per day (tpd) were moved, including 19,890 tpd of ore @ 2.91 gpt Au, with a recovery of 88% Au to produce 113,645 Oz Au at cash cost $605 and AISC $760. The Muckahi mining system is said to be on the way to demonstrate its efficacy by year end. Torex released a maiden underground mineral resource estimate for El Limon Deep of 797 K tonnes @ 5.52 gpt Au, containing 171 K Oz Au as an indicated mineral resource. The company had a cash balance of $131 M by the end of June.
  • Fortuna Silver Mines Inc. presented consolidated financial results for the second quarter 2019, including figures from its Mexican operations. At San Jose, Oaxaca, 271 K tonnes were milled at a rate of 3,045 tpd, grading 273 gpt Ag, 1.78 gpt Au, with a recovery of 91% Ag, 90% Au to produce 2.16 M Oz Ag, 13,204 Oz Au at cash cost $6.20 per Oz Ag and an AISC of $9.3 per Ag Oz. By the end of the period Fortuna held $77.2 M in cash and cash equivalents.
  • GoGold Resources Inc. reported second quarter results 2019. During the period GoGold produced 451 K Oz Ag from the Parral tailings. By the end of June the company had $9.0 M in cash and marketable securities and no debt.

ON FINANCING

  • Excellon Resources Inc. entered into an agreement with Cormark Securities Inc. as sole bookrunner and lead underwriter to buy units of the company for gross proceeds of approximately $10 M (Platosa, Durango).
  • Santacruz Silver Mining Ltd. granted 8.5 M stock options options to its directors, officers, employees, consultants and advisors (Veta Grande, Zacatecas; Rosario, San Luis Potosi).
  • Oroco Resource Corp. closed the first tranche of the previously announced non-brokered private placement for gross proceeds of $900 K (Santo Tomas, Sinaloa).
  • Impact Silver Corp. completed the first series of the third tranche of the non-brokered private placement previously announced and updated, receiving aggregate gross proceeds of $2.44 M. The company intends to complete a second series of the third tranche for gross proceeds of $554.2 K. Impact has paid $56 K to Infor Financial Inc. and $50 K to Canaccord Genuity Corp. as finders fee (Zacualpan, Estado de Mexico).

ON RESOURCES AND DEVELOPMENT

  • United States Antimony Corp. continues mining in two open pits at Los Juarez mine in Queretaro. At the Puerto Blanco mill in Guanajuato maintenance and improvements are being made to support increased production. At the Puerto Blanco leach circuit the plastic liner and fire assay equipment have been purchased. At the Madero smelter in Coahuila, The caustic leach plant has been tested and is operational to produce gold, silver, and antimony.
  • Hecla Mining Co. added new mineralization by drilling on the Middle and El Toro veins, potentially adding oxide mine life to San Sebastian, in Durango. Near-surface mineralisation has been defined by drilling for over 1,200 m along strike and 160 m of depth. Recent intercepts include 2.40 m @ 874 gpt Ag, 11.5 gpt Au; 1.50 m @ 398 gpt Ag, 1.86 gpt Au; 3.41 m @ 236 gpt Ag, 3.42 gpt Au. “Preliminary engineering studies have begun to evaluate the potential of both open pit and underground mining options at El Toro and drilling in this area is planned to continue through the third quarter.”
  • Orla Mining Ltd. filed a technical report on its Camino Rojo project, Zacatecas. The company previously released the results of the feasibility study (FS) for the oxide part of the mineralized body, which envisages the movement of 44 M tonnes @ 0.73 gpt Au, 14.2 gpt Ag to leach pads, and a recovery of 64% Au, 17% Ag.
  • VVC Exploration Corp. board of directors approved the start of a pilot mine on the Gloria Zones of its Northern Mexico Copper Project (Samalayuca) in Chihuahua. The plan envisions open pit mining and heap leach extraction by electrowinning (SX-EW) starting at 2 K tonnes per day (tpd) of mineralized material, scalable to 4 K tpd.
  • Minera Alamos Inc. received the approval of the environmental impact statement (Manifestación de Impacto Ambiental, or MIA) by SEMARNAT, the regulatory federal environmental agency, rendering the company with the key approvals for the construction of  commercial scale mining facilities at its Santana project in Sonora.
  • Goldplay Exploration Ltd. compiled all the exploration information supporting that its San Marcial project in Sinaloa has a strong precious metal potential, beyond the already defined resource. Five known areas over a 6 km trend include: Nava, with trench sampling of up to 24 m @ 2.1 gpt Au; Chachalaca Micuines, where several rock chip samples returned 1m @ 1.0 – 5.0 gpt Au, and up to 0.9 m @ 13.3 gpt Au; Guacamayo, with a trench interval returning 24 m @ 219 gpt Ag, 0.25 gpt Au; Resource area, on which recent assays of drill holes identified new gold mineralisation outside the resource, with true width intervals (tw) of 1.0 m @ 2.5 gpt Au, 8.4 m @ 0.7 gpt Au, 12 m @ 0.2 gpt Au; Faisanes, where recently a drill hole interval of tw 0.9 m @ 204.6 gpt Au.

ON DEALS AND CORPORATE ISSUES

  • Discovery Metals Corp. filed an early warning report in respect of its holdings in Levon Resources Ltd., now beneficially owns or controls 117.1 M Levon Shares, representing all of the issued and outstanding Levon Shares. Discovery did not own or control, directly or indirectly, any shares in Levon prior to the Arrangement. (Puerto Rico, Coahuila; Cordero, Chihuahua).
  • Tamino Minerals Inc. informed that “The company is not planning to complete a REVERSE SPLIT at this moment and is not in the company’s plans to do this.” Furthermore stating that “no dilution is guaranted” as its latest DTCC Share Position Report shows that the company has 149.8 M common shares in the float. The company is also working on preparing financial statements in order to remove the stop sign to become current on the OTC Markets (El Volcan, Sonora).
  • Minera Alamos Inc. reported the retirement from the Board of Directors of Mr. Chester Millar. Mr Millar (born 1927) was involved in multiple heap leach mining projects in Mexico for several decades, and is included in the Canadian Mining Hall of Fame since 2008 (Note by editor.- our sincere thanks and respect to Chester Millar for his contributions to the mining industry in Mexico).
  • Mako Mining Corp. informed gold production from the Trinidad mine in Sinaloa is nearing completion. Mining operations ceased at the end of March, and most of the crushing plant has been moved to another project in Nicaragua. The company has been unsuccessful in receiving any proceeds from the claim due to the damages sustained at La Trinidad from Hurricane Willa in October 2018, and legal actions have commenced against the insurer provider and their reinsurers. “Discussions are underway with the mining contractor for La Trinidad and the Mexican government regarding significant payables still outstanding at our Mexican subsidiary that holds La Trinidad”. Mako believes that the company has properly structured its Mexican subsidiary in a way that these liabilities do not extend outside of Mexico, whereby any proceeds from the sale of the equipment, or success in the insurance litigation, will be for the benefit of Mako. Discussions are proceeding with the mining contractor with the goal of reaching a mutually acceptable settlement. Finally, all other assets held in Mexico are to be sold or liquidated on due course (Note of editor.- From the outside, and with no further information other than what’s on the press release, the remarks on the isolation of the parent company from any litigation while leaving the country with debts outstanding are the kind of practices that make foreign companies easy targets for interest groups on any country. In short, please do not do that).
  • Chesapeake Gold Corp. has exercised an option to re-purchase a one percent (1.0%) net smelter returns royalty (NSR) on its Metates Au-Ag-Zn project, Durango. The NSR was purchased from Wheaton Precious Metals Co., a subsidiary of Wheaton Precious Metals Corp. for US$9.0 M.

ON SOCIAL RESPONSIBILITY

  • Argonaut Gold Inc. engaged in multiple community projects during the second quarter of 2019. Received the nationally awarded Environmental Socially Responsible Company recognition at the El Castillo Complex for the seventh consecutive year, and held an opening ceremony of a new plant nursery at San Agustin (also in Durango). At La Colorada (Sonora), San Juan del Rio (Durango) and San Antonio (Baja California Sur) hosted a Children’s Day celebration. At La Colorada (Sonora) assisted, in collaboration with the State of Sonora Secretariat of Education and Culture, with the rehabilitation of educational facilities and donated computers, as well as hosted a women’s community workshop in La Colorada. Finally, hosted a health and wellness community workshop in La Paz, Baja California Sur.

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 veinlets and quartz filed breccia in metamorphic rocks of a project in Oaxaca. Picture by Jorge Cirett

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No more mining concessions in my term: AMLO.- El Financiero

https://elfinanciero.com.mx/nacional/no-habra-mas-concesiones-mineras-en-el-sexenio-amlo

The Mexican president, Andres Manuel Lopez Obrador announced this Sunday that under his government no more mining concessions are going to be delivered.

While on a political rally in Concepcion del Oro, Zacatecas, he stated that in 36 years 80 million hectares were concessioned, equivalent to 40 percent of the national territory.

He also accused business owners of using those permits only to speculate financially.

“To give concessions of the mining regions to national and foreign companies was a policy forwarded since the time of (Carlos) Salinas de Gortari and up to 80 million hectares were delivered for mining exploitation. To grasp it: let’s think in our territory. Mexico has 200 million hectares, and 80 million hectares, about 40 percent of the national territory. Never in History so much of our sovereign soil had been transferred”, he said.

He reiterated that current concessions are to continue, but no new ones are to be delivered.

“We are not to cancel (the concessions), but we are not to continue delivering new concessions for mining exploitation. Because it was too much what was delivered. If we analyze it, we are going to conclude that it wasn’t delivered to produce, but to speculate financially”, he said.

“With what has been delivered they have to produce. That’s the main purpose and not speculation. What we ask the mining companies is, first, take care of the environment, that no territory is destroyed, not to act as it is done in other countries”, he added.

He asked for Mexican miners to be paid as in the United States, or Canada, and that the same environmental rules be applied.

He made a call for the salaries of workers to be raised, with the same benefits.

As he has said in other rallies, Lopez Obrador warned that ONG’s are not to receive funds from the government budget.

“These realized intermediation work. It was supposed that these (ONG’s) delivered goods to the people and it wasn’t so. These kept the budget or a good amount of the budget and -hardly- purchased stocks of foods, distributed weevil bearing beans and kept must of the funds received”

The Mining and Exploration News in Mexico: Highlights on the Second Week of February, 2019.

“Quartz blade” texture in a low sulphidation epithermal vein

By Miguel A Heredia

During the seventh week of the year (February 11th to February 17th, 2019), at least 32 press releases were announced by companies working in Mexico, with twelve communicating production results, seven informing on exploration results, six disclosing deals and corporate issues, three announcing financing rounds, three reporting on resources and development of their properties, and one discussing Mexican issues. ON MEXICO ISSUES, Michael Harvey, director of Corporate Affairs for GoldCorp declared that Zacatecas has lost attractiveness for mining.  ON EXPLORATION, In Sonora, Silver One commenced a 1,000m drilling program at its Peñasco Quemado project,  SilverCrest reported drill results and discover of the Babi Sur Vein within its Las Chispas project, and Silver Viper provided an update of the 2018 drilling program at its La Virginia project. In Chihuahua, Evrim and its partner, Harvest Gold reported drilling results from its Cerro Cascaron project, and Ethos received permits for trenching and drilling its La Purisima Au project. In Jalisco, Evrim reported drilling results from its Cuale project. In the State of Mexico, Candente commenced a drilling program to explore near surface drill targets at its El Oro project.  ON MINING, Alio provided an update of the operation of its San Francisco mine in Sonora. Hecla reported Q4, 2018 production results from its San Sebastian mine and Avino reported full 2018 year production from its Avino mine in Durango. Capstone presented Q4 and full year 2018 production results from its Cozamin mine in Zacatecas. Santacruz Silver announced Q4 and full year 2018 production results from their Mexican operations. Telson released full year 2018 production results from its Campo Morado mine in Guerrero.  Consolidated Zinc presented January 2019 production results from its Plomosas mine in Chihuahua. Fortuna reported and confirmed no contamination of soil at its San Jose mine in Oaxaca.  ON FINANCING, Auxico closed a non-brokered private placement for gross proceeds of $400K (Zamora project, Sinaloa). Riverside announced a private placement to raise gross proceeds for CAD$1.5M (Cecilia project, Sonora). Magna Gold announced a proposed non-brokered private placement for gross proceeds of up to CAD$3.2M (Mercedes project, Sonora).  ON RESOURCES AND DEVELOPMENT, Fortuna Silver announced results from the brownfield exploration program conducted at its San Jose mine in Oaxaca.  Torex announced infill drill results from its El Limon Deep project in Guerrero. Bacanora Lithium provided an update of the H2 activities developed at its Sonora Lithium project in Sonora. Hecla increased mineral resource at its San Sebastian mine in Durango. ON DEALS AND CORPORATE ISSUES, Sonoro announced management appointments (Cerro Caliche, Sonora).  Prospero Silver provided an update of its option agreement with Fortuna Silver on its Pachuca SE property in Hidalgo. Great Panther announced the approval from their shareholders to acquire Beadell Resources and change its name to Great Panther Mining Limited (Topia mine, Durango). Evrim granted 200K stock options to their employees (Cuale project, Jalisco). Magna Gold provided an update of its option agreement to acquire 100% interest on the Mercedes property in Sonora. Telson announced that they have identified a sophisticated concentrate theft from its Campo Morado mine in Guerrero during its transportation to the Trafigura warehouses in the Manzanillo port.

 ON MEXICO ISSUES

  • Michael Harvey, director of Corporate Affairs for GoldCorp Inc., declared that Zacatecas has lost attractiveness for mining after the Supreme Court of Justice of the Nation (SCJN) declared constitutional 4 taxes called ecological (Extraction of Minerals, Emission of Gases to the Atmosphere, Emission of Contaminants to the Soil, Subsoil and Water and the Deposit and Storage of Residues) on the mining sector. It sends a very negative signal about the stability of the investment in Zacatecas.

ON EXPLORATION

  • Silver One Resources Inc., commenced a 1,000m drilling program at its Peñasco Quemado project in Sonora. The drilling program will test three targets selected on coincidental geochemical and geophysical anomalies. The company will test two targets in the eastern part of the property: a) the down-dip extension of the drill defined historic Ag resource area, interpreted as a shallow southwest-dipping replacement manto, coincident with a low-intermediate resistivity anomaly, and b) the along-strike extension of the historic Ag resource area as identified by strong > 3 km long southeast trending Zn, Pb, Ba, and Mn in soil anomalies and partially coincident with geophysical anomalies. In the western part of the property, Silver One will test strong Zn, Pb, and Cu soil anomalies with coincidental geophysics in an area drill tested by Silvermex in 2008 where significant intersections were encountered as that in Hole PQRC51 with 4.5m of 340 g/t Ag at a depth of 88m from surface.
  • SilverCrest Metals Inc., reported drill results and discover of the Babi Sur Vein within its Las Chispas project in Sonora. Highlights results are Hole BAS18-31 which intersected 2.2m (TW) of 18.78 g/t Au and 2,147 g/t Ag (3,556 g/t AgEq), and Hole BAS18-07 with 2.2m of 4.63 g/t Au and 209 g/t Ag (556 g/t AgEq). “The high-grade footprint of the Babi Sur Vein has been drill intercepted with 14 core holes over approximately 1.5 km strike length. Of the 14 intercepts with an average true width of 1.4 metres, six are greater than 400 g/t AgEq (400 to 3,555 g/t AgEq)”.
  • Silver Viper Minerals Corp., provided an update of the 2018 drilling program conducted at its La Virginia project in Sonora. 4,753m were completed in 20 core drill holes, over five distinct prospect areas, distributed along 11km of the prospective structural trend. “The highlight of 2018 was El Rubi, a never-before drilled showing, located some 1.5km north of any previous drilling.  El Rubi returned a best result of 6m true width (13.3m core length) averaging 3.16 g/t gold and 228g/t silver for a gold equivalent grade of 6.42g/t Au”.
  • Ethos Gold Corp., received the approved permits for trenching and drilling its La Purisima Au project in Chihuahua. Ethos announced the commencement of the trenching program and expects to start the drilling program in March, 2019. The target area is at least 2km long and has not seen modern and systematic exploration. The company has estimated an initial and modest budget of approximately US$350K to conduct trenching and drilling at La Purisima project.
  • Evrim Resources Corp., and its partner Harvest Gold Corp., reported drill results from their Cerro Cascaron project in Chihuahua. Nine core drill holes were completed at Serpiente Dorada, San Pedro, and Cascarita target areas for a total of 1,885m. Assay results have been received for only seven of the nine holes drilled to date. Significant drill interceptions were encountered in Hole SPT 18-01 (Serpiente Dorada target area) with 6.5m of 3.29 g/t Au and 6 g/t Ag, including 1m of 20.1 g/t Au and 22 g/t Ag, and Hole SPED 19-02 (San Pedro target area) with 4.8m of 1.02 g/t Au and 13 g/t Ag and 0.35m of 5.39 g/t Au and 24 g/t Ag.
  • Evrim Resources Corp., released additional drilling results from its Cuale project in Jalisco. Evrim has received assays from ten core drill holes completed in 2018 for a total of 2,179m. Significant drill intersections were encountered in Hole GLR18-04 with 32m of 0.83 g/t Au from surface, including 22m of 1.06 g/t Au, and a deeper interval with 12m of 0.34% Cu; Hole GLR18-09 with 11m of 0.31 g/t Au from 36m downhole, and Hole GLD18-10 with 4m of 0.42% Cu from 136m downhole.
  • Candente Gold Corp., begun a drilling program to test near surface drill targets at its El Oro project in the State of Mexico. “The Company remains committed to pursue drill targets previously developed on the San Rafael vein in the Mexico-Esperanza mine border area where three holes intersected high grades of gold and silver (30.7 g/t Au over 1.9m; 18.1 g/t Au and 137 g/t Ag over 0.4m, and 16.7 g/t Au and 32 g/t Ag over 1.4m) in the San Rafael and parallel veins as well as disseminated gold (1.0 g/t Au over 75m) in the overlying porous tuff horizon and has decided to develop more shallow targets as well”. The first target to be drill tested is the Cortaduras area which is about 6.5km west of the San Rafael vein and 5km west of the Veta Verde vein from which 6.4M Oz Au and 74 M Oz Ag (8M Oz AuEq) were produced historically in 4 mines.

ON MINING

  • Alio Gold Inc., reported that 528,770 tonnes of stockpile with a grade of 0.31 were stacked on the leach pads. Au production for the month of January was consistent with Q4 production at approximately 3,890 Oz (subject to finalization and refinery adjustments). Alio also announced that they have sufficient stockpiles to operate at this capacity throughout 2019 while the company continues developing an engineered plan for recommencing mining activities.
  • Hecla Mining Company, presented Q4, 2018 production results from its San Sebastian mine in Durango. Hecla processed 156,733 tonnes at the mill to produce 2.04M Oz Ag and 14,979 Oz Au.
  • Avino Silver & Gold Mines Ltd., released full 2018 production results from its Avino mine in Durango. In 2018, the company produced 1.28M Oz Ag, 8,100 Oz Au, and 4.8M Lb Cu (or 2.8 M Oz AgEq).
  • Capstone Mining Corp., presented Q4 and full year 2018 production results from its Cozamin mine in Zacatecas. In Q4, 2018, Capstone produced 9.3M Lb Cu for a total of 155.2M Lb Cu produced in the full year. Zn production in 2018 totaled 15M Lb Zn.
  • Santacruz Silver Mining Ltd., announced Q4 and full year production results from their Mexican operations. At its Veta Grande mine in Zacatecas, Santacruz milled 36,719 tonnes of 81 g/t Ag to produce 58.9K Oz Ag, 113 Oz Au, 660.8K Lb Pb, and 891K Lb Zn. In the full year, 150,281 tonnes were milled with a grade of 73 g/t Ag to produce 190.3K Oz Ag, 367 Oz Au, 1.76M Lb Pb, and 2.5M Lb Zn. At its El Rosario mine in San Luis Potosi, the company milled 16,676 tonnes of 42 g/t Ag to produce 18.9K Oz Ag, 131 Oz Au, 89.6K Lb Pb, and 358.4 Lb Zn. In the full year, Santacruz milled 61,184 tonnes of 43 g/t Ag to produce 72.4K Oz Ag, 379 Oz Au, 286.7 Lb Pb, and 2.3M Lb Zn.
  • Telson Mining Corporation, released full year production results from its Campo Morado mine in Guerrero. In 2018, Telson processed 585,601 tonnes of 1.02 g/t Au, 118 g/t Ag, 1.1% Pb, 4.3% Zn, and 0.37% Cu to produce 2,870 Oz Au, 622.3K Oz Ag, 4M Lb Pb, 36.3M Lb Zn, and 373.3K Lb Cu.
  • Consolidated Zinc Limited, presented January 2019 production results from its Plomosas mine in Chihuahua. The company mined 3,530 tonnes of 10.3% Zn and 3.3% Pb to produce 813K Lb Zn and 262K Lb Pb, with metallurgical recoveries of 84% and 85% respectively.
  • Fortuna Silver Mines Ltd., reported and confirmed that the overflow of the contingency pond at its San Jose mine in Oaxaca did not contaminate soils, and therefore no remediation is required. PROFEPA has already completed its investigation and confirmed the no contamination of soils from the overflow.

ON FINANCING

  • Auxico Resources Canada Inc., closed a non-brokered private placement for gross proceeds of $400K (Zamora project, Sinaloa).
  • Riverside Resources Inc., announced a plan to complete a non-brokered private placement to raise gross proceeds for CAD$1.5M. Net proceeds will be used to drill its Cecilia gold project in Sonora.
  • Magna Gold Corp, announced a proposed non-brokered private placement for gross proceeds of up to CAD$3.2M.

ON RESOURCES AND DEVELOPMENT

  • Fortuna Silver Mines Inc., reported results from the brownfield exploration program conducted at its San Jose mine in Oaxaca. The brownfield exploration program comprised 50.904m in 105 holes completed with up to six rigs in 2017 and 2018. Victoria is a primary target explored by underground drilling in which 27,302m in 53 holes were collared. Drill highlights include Hole SJOM781 with 13.5m (TW) of 119 g/t Ag and 0.57 g/t Au, Hole SJOM789 with 3m (TW) of 404 g/t Ag and 2.81 g/t Au, Hole SJOM794 with 6.3m (TW) of 213 g/t Ag and 1.24 g/t Au, Hole SJOM830 with 5.3m (TW) of 273 g/t Ag and 2.1 g/t Au, and Hole SJOM833 with 7.8m (TW) of 217 g/t Ag and 1.72 g/t Au. “Following the successful exploration results for 2018, the Company has allocated US$4.5 million to continued brownfield exploration at San Jose in 2019, including an estimated 11,500 meters of surface and underground diamond drilling and 450 meters of underground development for exploration drilling”.
  • Torex Gold Resources Inc., released results of the first 32 holes of its infill drill program completed at its El Limon Deep Zone project in Guerrero, which is the downdip extension of mineralization below the El Limon open pit. Significant drill intersections were encountered in Hole LDUG-026 with 8.5m of 25 g/t Au, Hole LDUG-013 with 7.5m of 24.9 g/t Au, Hole LDUG-021 with 15.2m of 16.8 g/t Au, and Hole LDUG-002 with 45.9m of 12.5 g/t Au.
  • Bacanora Lithium Plc., provided an update of the H2, 2018 activities developed at its Sonora Lithium project in Sonora. Bacanora has secured US$240M as part of the financing package to construct an initial 17,500 tpa Li carbonate operation and continues discussions with industry and strategic financial parties with regards to completing Sonora’s finance package. The company also obtained and unrestricted access to develop and operate the Sonora mine secured following acquisition of La Ventana and La Joya mineral concessions for US$2.9M with the final consideration settled in August 2018. The processing plant sites change of land use permission was approved and augments the Manifestación de Impacto Ambiental (MIA-Environmental impact assessment permissions) for the project and the MIA for permanent road construction previously approved in 2018.These developments enable the project to commence construction, immediately after the project financing package is completed.
  • Hecla Mining Company, increased reserves and mineral resources at its San Sebastian mine in Durango. Proven reserves are 22,000 tonnes of 121 g/t Ag and 2.48 g/t Au (85K Oz Ag and 2K Oz Au contained), and probable reserves are 206,000 tonnes of 407 g/t Ag and 3.11 g/t Au (2.7M Oz Ag and 21K Oz Au contained). Total proven and probable reserves are 228,000 tonnes of 382 g/t Ag and 3.11 g/t Au (2.79M Oz Ag and 23K Oz Au contained).Indicated resources at San Sebastian are 2,243,000 tonnes of 202 g/t Ag, 1.55 g/t Au, 2.5% Pb, 3.5% Zn, and 1.6% Cu (14.7M Oz Ag, 115K Oz Au, 68.12M Lb Pb, 95.7M Lb Zn, and 44.3M Lb Cu contained). Inferred resources are 3,487,000 tonnes of 205 g/t Ag, 1.24 g/t Au, 1.7% Pb, 2.5% Zn, and 1.3% Cu (22.9M Oz Ag, 143K Oz Au, 27.1M Lb Pb, 39M Lb Zn, and 19.9M Lb Cu contained). Hecla also presented Q4 2018 drill results conducted with three core drill rigs and one RC drill. One underground drill rig completed in-fill drilling in the central and upper portion of the oxide zone along the Middle vein. Additionally, two core drill rigs tested shallower oxide mineralization along the West Francine, Esperanza veins and El Toro vein. Highlights drill results at the Middle vein are 3.6m of 2,080 g/t Ag and 6.84 g/t Au, at West Francine are 0.43m of 295 g/t Ag and 0.62 g/t Au, and at El Toro vein are 3.6m of 305 g/t Ag and 4.04 g/t Au, and 3.05m of 127 g/t Ag and 4.04 g/t Au.

ON DEALS AND CORPORATE ISSUES

  • Sonoro Metals Corp., announced the appointment of its Executive Director and Corporate Secretary (Cerro Caliche, Sonora).
  • Prospero Silver Corp., announced that TSX approved its option agreement with Fortuna Silver Mines Inc., in which Fortuna can earn up to 70% interest in the Pachuca SE property in Hidalgo.
  • Great Panther Silver Limited, announced the approval from their shareholders to acquire Beadell Resources Limited and to change its name to Great Panther Mining Limited.
  • Evrim Resources Corp., granted 200K options to their employees. The stock options are exercisable at a price of $0.32 per share for a period of five years.
  • Magna Gold Corp., provided an update of its option agreement on the Mercedes property in Sonora, to acquire 100% interest in two mining concessions for a four year period. These mining concessions cover approximately 345 hectares and Magna is entitled to acquire 100% interest by paying to the seller an aggregate of US$1.34M plus VAT of 16% in installments commencing on the 6th month from the effective date, and ending  on the 48th from the effective date; issue to the seller 3% NSR capped at US$3.5M and subject to the right of Magna to acquire all the NSR at a price of US$0.5M  per percentage point within the first three years of commercial production of the Mercedes property, and conditional on the completion of a going public transaction within six months of the effective date, issue 2,442, 105 common shares.
  • Telson Mining Corp., announced that the company has identified a sophisticated criminal operation to intercept concentrate trucks, remove some part of the Campo Morado concentrates and replace the same with lower quality concentrates. Now the company has taken measures to eliminate this issue with increased security including performing monitored and guarded concentrate transport from the mine to point of sale.

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, “quartz blade” texture in a low sulphidation epithermal vein system in a prospect in Jalisco, Mexico.  Photo by Miguel A Heredia.

Explotación minera en el mar, opción o pesadilla

https://www.eleconomista.com.mx/opinion/Explotacion-minera-en-el-mar-opcion-o-pesadilla-20180504-0041.html

La explotación minera de fondos oceánicos será pronto una realidad. Sus impactos ambientales están siendo intensamente evaluados por instituciones académicas y agencias internacionales, mientras la ingeniería avanza lo suficiente para colocarla como opción viable y rentable, en muchos casos, superior a la minería en tierra. Crece la escasez de minerales metálicos y no metálicos en yacimientos terrestres accesibles y de costo aceptable, mientras el reciclaje es insuficiente y la demanda aumenta exponencialmente por la industria electrónica y la fabricación de baterías para vehículos eléctricos. Níquel, cobalto, tungsteno, platino, rodio, manganeso y otros metales son indispensables para nuevas tecnologías electrónicas, y el fósforo es insumo vital para la manufactura de fertilizantes esenciales en la agricultura. El impacto ambiental de actividades mineras en tierra llega a ser devastador en cuanto a ecosistemas y paisajes, deforestación, y contaminación de aguas, suelos y atmósfera.

Highlights on the Fourth Week of November 2016, Mineral Exploration in Mexico

The fourth week of November marks the first anniversary of this post being published.

A year ago, the lack of a comprehensive and widely available abstract of Mexican mining and exploration news was noted. Giving that news releases from companies working in Mexico range from 10 to 40 in number on any given week, it is difficult for all industry professionals to keep track of all that is going on (imagine finding and reading 25 press releases every week for a year). We, at Gambusino Prospector de Mexico, decided to fill this gap, and this week marks the first anniversary. November of last year clearly was not the best of times in mining; if we speak in terms of cycles, 2015 was clearly in the low part of the graph, we just didn’t know if the bottom was nearby. The clear signs of a more optimistic market were seen in March and April of 2016, but we noted that in the third week of November, $35 M had been raised by six companies working in Mexico, that fact constituted a preliminary post, followed by the first “Highlights” on the fourth week of November, with $26.7 M in financing by three more companies. In hindsight, those were probably the signs of investors looking again into commodities for the first time in several years. A year later the outlook is now optimistic, even if not yet a boom, with metal prices recovering, and some mining companies having announced increases in their exploration budget in the mid part of the year. Two silver discoveries in Mexico reinforce the point; Mesa de Plata in Sonora (Azure Mining) and Sandra Escobar in Durango (Orex Gold-Canasil). We look forward to see this trend continuing to give shape to the next boom.

The fourth week of November marks the first anniversary of this post being published. During this week at least eleven press releases were announced by companies working in Mexico, including one third quarter report. ON MEXICO ISSUES, two large Mexican corporations protested against new proposed regulations in Zacatecas. ON EXPLORATION, drilling is focused on brown field high grade silver-gold targets in a property in Mexico State; results from drilling point to the discovery of a new orebody in a Chihuahua silver property, whereas in Sinaloa good results from RC drilling strengthen the case for a silver project. ON MINING, a company in Sonora decided to use a Merryl Crowe system in its project, one more reported third quarter results, and another one added new equipment to its plant in Zacatecas. ON FINANCING, one company completed a bought deal for US$10 M, while one more closed a convertible debenture financing of $1 M. ON DEALS AND CORPORATE ISSUES, A company entered into an agreement to extend an option on three mining concessions in Veracruz.

ON MEXICO ISSUES

  • Peñoles and Fresnillo, two of the biggest Mexican mining companies, expressed their disagreement on a proposed new tax to enterprises that produce contamination in Zacatecas.

ON EXPLORATION

  • Impact Silver Corp. is focusing underground drilling on larger and higher grade targets at Guadalupe South and San Ramon extensions, on its Zacualpan mine in Mexico State. From surface, drilling is to test extensions of the Mirasol silver mine and San Patricio. San Patricio was discovered and partially drilled in 2007-2008, with results including 4.6 m @ 242 g/t Ag and 1.9 m @ 346 g/t Ag.
  • Kootenay Silver Inc. provided results from the first 11 holes on the RAM structure, on its La Cigarra project in Chihuahua. The Ram structure is 700 m to the west and south of the La Cigarra silver deposit, the drill program tested a 400 m strike length of the 3,800 m long structure. Most of the drill intercepts are shallow, and include: 18 m @ 89.9 g/t Ag, 6 m @ 166.5 g/t Ag, 16.5 m @ 58.8 g/t Ag, 31.1 m @ 27.6 g/t Ag and 14.7 m @ 56.4 g/t Ag.
  • Santana Minerals Ltd. announced RC drill results from the Mojardina Loop area of the Cuitaboca project in Sinaloa. Results include 35 m @ 221 g/t Ag, from surface, including 14 m @ 453 g/t Ag; 10 m @ 56 g/t Ag, 31 m @ 32 g/t Ag; 16 m @ 58 g/t Ag; 17 m @ 50 g/t Ag; 11 m @ 45 g/t Ag, 45 m @ 45 g/t Ag; 24 m @ 47 g/t Ag. The drill program continues now at the Jesus Maria breccia, and then to Mojardina South.

ON MINING

  • Mexus Gold US. and JV partner Ma Mar announced its intention to use a Merryl Crowe system to recover gold at its Santa Elena mine in Sonora (not to mistake with First Majestic’s Santa Elena mine, also in Sonora).
  • Impact Silver Corp. announced its financial and production results for the third quarter, 2016. Production on its Zacualpan property in Mexico State was 229 K Oz Ag, primarily from the Oscar Cuchara (42%), San Ramon Deeps (40%) and the Mirasol mines (18%). Cash position was $8.2 M at the end of the period.
  • Santacruz Silver Mining LTD. installed a 4 K tonnes/day lead thickener and filter press to its Veta Grande Mill in Zacatecas. Metal recoveries are now 70% and 88% for silver and lead respectively.

ON FINANCING

  • Avino Silver & Gold Mines Ltd. entered into an underwriting bought deal agreement, for gross proceeds of approximately US$10 M.
  • VVC Exploration Corp. announced the closing of a convertible debenture financing of approximately CA$1.38 M or US$1.04 M.

ON DEALS AND CORPORATE ISSUES

  • Source Exploration Corp. has entered into a definitive agreement to extend the option contract on three concessions on its Las Minas project in Veracruz. The term of the option agreement has been extended for one year for consideration of $180 K.

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, chalcedonic quartz veinlet in argillitized felsic tuff, interpreted as part of the upper levels of an epithermal system in Zacatecas.

014-copia

Highlights on the first week of April 2016, Mineral Exploration in Mexico

On the first week of April, noteworthy news releases included only five announcements of results for the first quarter of the year. US Antimony, Capstone Mining, Endeavour Silver, Coeur Mining and GoGold Resources reported production from their mines in Queretaro, Zacatecas, Durango, Guanajuato and Chihuahua. To note and support is decision by Torex Gold of not falling for the covert extortion implicit in the illegal blockade of its Limon-Guajes mine in Guerrero, and temporarily shutting operations until the matter is resolved. As an industry we should now expect the state and federal governments to enforce the law. If there is any room for disagreement, it should be addressed by legal means, as in any civilized country. Cyprium Mining closed a round of financing, to be used for work in its Chihuahua properties.

On Financing

  • Cyprium Mining Corp. announced the closing of the first tranche of a private placement for gross proceeds of C$382 K dollars, to be used at its El Potosi property in Chihuahua.
  • Southern Silver Exploration Corp. announced the closing of a non-brokered private placement for gross proceeds of $600 K dollars, to be used at its properties El Oro in New Mexico, USA and Cerro Las Minitas in Durango Sate, Mexico.

On Mining

  • Torex Gold Resources Inc. informed a temporary suspension of activities at its El Limon-Guajes mine, until further notice, due to an illegal blockade. The unsubstantiated claims can be easily refuted with environment monitoring data and the company decided to suspend operations until the authorities re-establish law and order.
  • US Antimony Corp. announced it has begun mill testing with material dug from the Reynaldo pit at its Los Juarez property in Queretaro.
  • Capstone Mining Corp. announced production results for the first quarter, including data from its Cozamin mine in Zacatecas, where it produced 3,660 tonnes of copper, 812 tonnes of zinc, 34 tonnes of lead and over 266 K Oz of silver. The production was achieved by processing 243,900 tonnes of ore at a rate of 2,680 t/day with grades of 1.59% Cu, 0.62% Zn, 0.07% Pb and 48 g/t Ag. Recoveries are 94.4% for copper, 53.3% for zinc, 18.8% for lead and 70.9% for silver. Their guideline for 2016 aims to cash cost of $1.50 per Cu pound and Fully-loaded All-In cost fo $2.10 per Cu pound, including by-product credits.
  • Endeavour Silver Corp. reported production results for its three silver mines in Mexico, Guanacevi in Durango, and Bolañitos and El Cubo in Guanajuato. The total production of 1.5 M Oz Ag and 15,960 Oz Au in the third quarter was obtained by processing over 400K tonnes of ore, according to the following table:Endeavour Silver Q1 2016 table1
  • Coeur Mining Inc. announced first quarter production of 933 K ounces of silver and 14,668 ounces of gold at its Palmarejo mine in Chihuahua. 215.6K tonnes were mined underground and 35.2K on the surface, with the former averaging 130.9 g/t Ag and 2.17 g/t Au, while the latter averages 130.0 g/t Ag and 1.24 g/t Au. Total production at Palmarejo for the quarter was 933K ounces of silver and 14.6K ounces of gold, with recoveries of over 89% and 92% for silver and gold respectively. Production guidance for 2016 is 3.8 – 4.3 million silver ounces and 67,000 – 72,000 gold ounces.
  • GoGold Resources Inc. produced 335K AgEq ounces during the first quarter of2016, with cash cost averaging $6.78 per AgEq ounce.

In the image below, mudslides at Cerro La Cotorra, Tenochtitlan, Chiapas, as seen after the 2003 hurricane season.

Mudslide, Cerro La Cotorra SE2