VANCOUVER, BC – (June 23, 2017) – Silver Bull Resources, Inc. (TSX: SVB; OTCQB: SVBL) (“Silver Bull” or the “Company“) is pleased to announce its intention to complete a private placement (the “Private Placement“) of up to 21,398,550 units (the “Units“) of the Company at a price of CDN$0.08 per Unit. Each Unit will consist of one common share in the capital of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“). Each Warrant entitles the holder to acquire one Common Share at a price of CDN$0.13 until the second anniversary of closing of the Private Placement.
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June 22, 2017 — Vancouver, B.C. – Prospero Silver Corp (PSL.V; the “Company” or “Prospero”) is pleased to announce that drilling has started at the Matorral project in in the Santa Maria del Oro camp, Durango State, Mexico.
The drilling is part of a planned 6,900m program to test 3 of Prospero’s projects under the terms of the recent strategic investment from Fortuna Silver Mines Inc. ((NYSE: FSM, TSX: FVI)). Prospero is planning to drill four holes at Matorral project, followed by eight holes at its Petate project, and then by eight holes at Pachuca SE (see Prospero news release dated May 30, 2017). This drilling program is under the terms of Prospero’s strategic agreement with Fortuna Silver Mines. Drill collar maps for Matorral will be available shortly on Prospero’s website.
Premier Gold Mines Limited (TSX-PG) is pleased to provide an update of ongoing exploration and development programs at multiple project sites. The 2017 programs include surface exploration, sustained drilling efforts and development initiatives at several operations.
Underground drilling along strike from the Corona de Oro mine workings has discovered additional high-grade mineralization with intercepts including 116.39 g/t Au & 120.7 g/t Ag across 1.5 metres and 19.84 g/t Au & 700.4 g/t Ag across 3.2 metres.
Development has now reached the Diluvio deposit, located along trend from the Lupita mine workings. Surface and underground drilling continues to define the mineralized horizon prior to mine planning. Step-out drilling has expanded the Diluvio deposit with intercepts up to 10.92 g/t Au & 84.8 g/t Ag across 3.05 metres and 5.17 g/t Au & 13.5 g/t Ag across 30.60 metres.
Underground development (drifting) is underway to access the Marianas Zone, located down-plunge of the Lagunas mine workings. Underground drilling to convert the Marianas Zone from resource to reserve will commence in late 2017.
VANCOUVER, BC – June 22, 2017 – SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce additional drill results for the Babicanora Vein within the Las Chispas Property (the “Property”) located in Sonora, Mexico. These further drilling results, combined with results announced on March 2, 2017, show an increased high grade footprint within the Babicanora Vein (see attached Figures). The Babicanora Vein is one of 19 epithermal veins that have been identified to date on the Property, which historically was one of the largest silver-gold producers in Sonora. As part of the Company’s ongoing Phase II exploration program, four drills are currently working at the Las Chispas, William Tell, Varela, Giovanni and Babicanora veins, with further results anticipated over the next several months.
VANCOUVER, B.C. Almadex Minerals Limited (“Almadex” or the “Company”) (TSX-V: AMZ; OTCQB: AXDDF) is pleased to announce it has received assay results from holes EC-17-021 and EC-17-022 of the 2017 Norte Zone drilling program. EC-17-021 was drilled at an azimuth of 000 from a new pad, located about 285 meters to the south
from pad EC-16-010. Hole EC-17-022 was drilled from the same pad as hole EC-16-020 but to the north at an azimuth of 000 degrees. Hole EC-17-021 intersected significant mineralisation starting at a depth of 93 meters. Hole EC-17-022 helps define the mineralised zone along strike and provides a significant stepout from the previous hole drilled from this collar, EC-17-020. Highlights from holes EC-17-021 and 22 include the following intercepts which are also shown on the attached plan and sections:
Hole EC-17-021 NORTE ZONE, 000 Az, -60 dip
From 93.00 to 246.50, 153.50 meters @ 0.68 g/t gold and 0.27% copper
Including 95.50 to 179.50, 84.00 meters @ 0.96 g/t gold and 0.37% copper
From 273.00 to 440.00, 167.00 meters @ 0.27 g/t gold and 0.12% copper
Including 337.00 to 401.00, 64.00 meters @ 0.50 g/t gold and 0.21% copper
Hole EC-17-022 NORTE ZONE, 000 Az, -40 dip
From 120.91 to 376.55, 255.64 meters @ 0.26 g/t gold and 0.17% copper
Including 129.91 to 188.55, 58.64 meters @ 0.38 g/t gold and 0.23% copper
And 200.55 to 346.55, 146.00 meters @ 0.27 g/t gold and 0.18% copper
And 262.55 to 294.55, 32.00 meters @ 0.43 g/t gold and 0.24% copper
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports that further to the Company’s press release of May 29, 2017 wherein it announced that it had acquired an exclusive five year right to explore, develop and mine the Membrillo silver-zinc-lead-gold vein structure (the
“Membrillo Prospect”) located approximately four km from the Company’s Rosario Project mill facility located near Charcas, San Luis Potosi, Mexico, Santacruz provides the following update. Santacruz’s mining activities at the Membrillo Prospect have been focused on drifting to access the Membrillo vein that generally strikes NW-SE and dips approximately 45 to 60 degrees to the southwest. This underground development has intersected a previously unknown E-W striking vein structure that dips approximately 50 to 52 degrees to the Southwest and is infilled by quartz, carbonate and sulfide minerals. This previously unknown vein is now known as the San Rafael vein. To date the Company has completed approximately 68 meters of drifting on Level 1 along the San Rafael vein where the true width of the vein is approximately 0.50 to 1.6 meters wide.
THUNDER BAY, ONTARIO–(Marketwired – June 20, 2017) – Mexican Gold Corp. (“Mexican Gold” or the “Company”) (TSX VENTURE:MEX) is pleased to announce a 3,000 metre diamond drilling program for its Las Minas gold – copper – silver project. The drilling program targets expansion of the recently discovered mineralization at the Cinco Senores zone as well as step-out drilling at the El Dorado / Juan Bran zone to extend the on-strike and down-dip mineralization. Additionally, a field exploration program, consisting of trenching, sampling and mapping will be carried out at the Santa Cruz zone to test the upward continuation of the zone above the area of previous drilling. Trenching, sampling and mapping will also be undertaken at the Pueblo Nuevo concession to further outline the quartz veins recently sampled at the site.
Brian Robertson, President and CEO, stated, “The exploration program is focused on three high priority mineralized zones at Las Minas. The program combines a geophysical survey with expansion and discovery diamond drilling and preliminary field exploration work. We believe the program will expand the resource at El Dorado – Juan Bran and lead to the discovery of new zones of mineralization at both Cinco Senores and Santa Cruz. The Pueblo Nuevo concession, with its numerous historical high-grade mines, is a high-priority target area.”
VANCOUVER, June 19, 2017 /PRNewswire/ – GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL) (“Great Panther”; the “Company”) announces that surface drilling at its San Ignacio Mine, part of the Guanajuato Mine Complex (the “GMC”), has confirmed the continuation of strong gold-silver mineralization along strike of the current mine workings.
The drilling, which is ongoing, initially targeted the southeasterly strike extension of the Melladito vein structures, in particular, where this vein set is intersected and cut by, the Plateros vein trend. The result of this intersection is a thickening of the veins, highlighted by hole ESI16-174, which returned a combined estimated true width of 19.24 metres averaging 6.36g/t gold (Au) and 261g/t silver (Ag). This comprised 4.65 metres of 4.81g/t Au and 275g/t Ag in the Melladito vein and 14.59 metres of 6.86g/t Au and 257g/t Ag in the Plateros vein. The extent of this thicker portion of vein intersection is not yet known and additional drilling and mine development will be required to determine its size and significance. Nonetheless, several other holes returned excellent indications of high gold and silver grades as presented in the table below.
TORONTO, Ontario, June 19, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce high grade intercepts for the first 25 holes of its infill drilling program at the Sub-Sill deposit, associated with its El Limon-Guajes Mine (ELG) in Southwest Mexico. Highlighted intercepts from this program include 39.1 g/t Au over 9.7m, including114.1 g/t Au over 2.9m, in borehole SST-49; 107.3 g/t Au over 3.1m in borehole SST-50; 32.1 g/t Au over 13.0m, including 68.9 g/t Au over 4.0m in borehole SST-54; and 27.3 g/t Au over 14.8m, including 62.1 g/t Au over 4.9m in borehole SST-47.
Fred Stanford, President & CEO of Torex stated: “The purpose of this infill diamond drill program is to upgrade a million tonnes of Inferred Sub-Sill resource to the Measured and Indicated categories, to facilitate mine planning and the determination of a maiden mineral reserve. Of the 50 planned infill diamond drill holes, 41 have been completed to date, and assays have been received for 25 of those holes. To date, the ‘hit ratio’ has been 96%, with 24 holes intercepting high grade gold mineralization. This exceptional demonstration of the continuity of the gold mineralization has held true across the current resource area, including at the periphery. This bodes well for the mine planning efforts and indicates the potential for resource expansion with step-out drilling. The timing is excellent as the access ramp is now through the sill and progressed 40 meters into the less prospective endoskarn, and is less than 10 meters from intersecting the highly prospective exoskarn.” He added, – “The step-out diamond drill program is getting underway as the infill program is completed. The step-out program comprises approximately 7,500 meters in 31 holes that test the area adjacent to the current resource and then out to the periphery of the prospective area for Sub-Sill expansion. This drill program is expected to be completed through the second half of the year and we look forward to sharing those results.”
During the 24th week of the year (June 12th to June 18th, 2017), at least 19 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, the Mexican government released ground for staking for the first time in over two years. ON EXPLORATION, in Sonora Millrock and Centerra are to explore the Navidad project, while Canuc released information on the San Javier project. In Chihuahua VVC Exploration obtained a coveted drilling permit, and Harvest Gold disclosed high-grade rock sampling results from Cerro Cascaron. In Guanajuato, Vangold released results from an extensive rockchip program at its Pinguico property. ON MINING, no relevant news . ON FINANCING, Southern Silver closed the first tranche of a placement, raising $2.5 M. ON RESOURCES AND DEVELOPMENT, Mexus Gold announced the arrival of a secondary crusher and the installation of an atomic absorption lab at its Santa Elena mine in Sonora. ON DEALS AND CORPORATE ISSUES, Millrock and Western Mining. Entered into an agreement for the purchase of the Navidad property in Sonora. Nyrstar and Telson completed the transaction on the Campo Morado mine sale in Guerrero. San Marco sold to Goldcorp the La Pinta 06 concession in Zacatecas. Discovery Metals is to buy from private owners the La Kika concession in Coahuila.
ON MEXICO ISSUES
- The Direccin General de Regulación Minera released the first liberty announcement in more than two and a half years, to liberate ground for staking. The release includes 104 concessions that have been reduced in size, and a new title issued, 43 concessions relinquished by the concessionaires and 40 concessions cancelled by payment defaults. It is hoped the agency now can liberate ground on a steady manner (A bigger release was promised on October of 2015).
- Millrock Resources Inc. and Centerra Gold Inc. are to explore the recently optioned (see below) La Navidad gold project in Sonora. The 25 K hectares project presents gold mineralization hosted by low-angle faults related to the Magdalena Core Complex, with a zone of faults traced over 2.2 Km and 300-600 m surface width. Historic drill intercepts include 13.2 m @ 2.09 g/t Au; 6.6 m @ 1.34 g/t Au; 3.3 m @ 2.03 g/t Au; 19.5 m @ 0.84 g/t Au; 14.9 m @ 0.66 g/t Au; 8.3 m @ 1.03 g/t Au.
- Mammoth Resources Corp. released results from its surface channel sampling at its Tenoriba project in Chihuahua. At the Moreno zone 11.5 m (true width, or TW) were cut @ 0.64 g/t Au, while at Carnertios (3 km to the ENE) the samples returned 15.5 m @ 0.99 g/t Au and 7.0 m @ 1.28 g/t Au.
- Canasil Resources Inc. informed that the last drilling campaign at its Esperanza project in Zacatecas extends the known well-mineralized envelope on the Esperanza vein over 400 m of strike length and 350 m of depth, open in all directions. Based on alteration in volcanic rocks and geophysics, Canasil has outlined a 5 km long target for further exploration, as well as the presence of four other untested veins.
- VVC Exploration Corp. announced that the SEMARNAT (Environmental Agency) has approved the application for advanced exploration drilling at its Salamayuca copper project in Chihuahua. The program envisages core drilling in up to 53 locations at the site.
- Canuc Resources Corp. released compiled information from work done by the Santa Rosa Silver Mining Corp. on the San Javier project in Sonora, subsequent to 2012. Mineralization appears as vein and vein-breccia zones 1 to 4.5 m in width, alteration zones associated to the margins of felsic to intermediate dykes and quartz-stockwork breccia zones than can be much wider. At Colorado, the silica clay alteration is at least 11 m wide, with 11.2 m returning 284 g/t Ag, while the Carranza zone locally attains 31 m in width, with 11 m returning 283 g/t Ag. Nine prospects are located on a 2.4 km long corridor.
- Harvest Gold Corp. disclosed rock sampling results at Cerro Cascaron project in Chihuahua. At La Cascarita two samples returned 3 m @ 1,170 g/t Ag, 2.7 g/t Au, 1.0% Zn; 1.3 m @ 331 g/t Ag, 0.07 g/t Au, 1.6% Pb. A select sample from the Serpiente Dorada vein returned 826 g/t Au, and six other samples from the main vein field returned between 0.25 and 38.0 g/t Au.
- Vangold Mining Corp. released exploration results from its El Pinguico project in Guanajuato. To date 452 rock samples have been collected from surface and underground locations, results include (no widths provided) 3.4 g/t Au, 450 g/t Ag; 3.8 g/t Au, 331 g/t Ag; 4.1 g/t Au, 354 g/t Ag; 12.6 g/t Au, 1,490 g/t Ag; 5.5 g/t Au, 403 g/t Ag; 4.6 g/t Au, 350 g/t Ag; 9.2 g/t Au, 63 g/t Ag; 13.9 g/t Au, 278 g/t Ag. The program confirms the El Pinguico/El Carmen vein extends to the south, connecting with the La Joya, La Joyita and El Pirul vein systems, extending mineralization 1.5 km from the midpoint of the property.
- No Relevant News.
- Southern Silver Corp. closed the first tranche of the previously reported brokered private placement, for gross proceeds of $2.5 M (Cerro Las Minitas, Durango).
ON RESOURCES AND DEVELOPMENT
- Mexus Gold US. announced the arrival of a secondary crusher to its Santa Elena mine in Sonora (not to mistake with First Majestic’s Santa Elena mine, also in Sonora), and reported assays for samples near the Don Julio vein system, reporting results of 8.3; 0.7; 1.9; 5.8; 5.0 ; 1.1; 1.3 g/t Au. The atomic absorption machine has been installed.
- Consolidated Zinc Ltd. announced that two more drill holes at its Plomosas mine in Chihuahua have intersected 1.75 m and 0.80 m of massive and semi-massive sulphide mineralization. Furthermore, 33 rock chip samples were collected over 150 m strike in underground workings, with massive and semi-massive sphalerite and galena mineralization in the Las Espadas area.
ON DEALS AND CORPORATE ISSUES
- Millrock Resources Inc. entered into an option agreement to purchase La Navidad project from a private Mexican firm, Western Mining S.A. de C.V.. To complete the 100% interest purchase, 2.5 M in option payments to Western may be made over a four-year period. An initial payment of 125 K has been made. Three further option payments of 125 K each may be made at annual intervals. A final option payment of $2 M could be made to complete the purchase of the mineral rights. Through its agreement with Millrock, Centerra has the option to earn an 80% interest in La Navidad by funding all the financial obligations in the underlying agreement between Millrock and Western.
- Nyrstar NV. Announced the completion of the sale of its Campo Morado mine in Guerrero to Telson Resources Inc. for a total cash consideration of USD 20 M, and the potential for additional future proceeds through a variable price agreement linked to production from the mine. The Campo Morado poly-metallic mine can process 2,500 tonnes per day, with the mining concessions covering over 12 thousand hectares. During 2014 the mine processed 657 k tonnes @ 1.2 g/t Au, 115 g/t Ag, 4.6% Zn, 1.2% Cu, 0.9% Pb.
- San Marco Resources Inc. entered into an agreement to sell its La Pinta 06 concession in Zacatecas to Goldcorp Inc. for US$225 K and a 1% NSR.
- Discovery Metals Corp. (formerly Ayubowan Capital Ltd.) entered into a mineral exploration and option agreement to acquire the La Kika concession in Coahuila from private vendors. On closing US $45 K are to be paid, and the company is to incur in not less than US $2 M in exploration expenditures, half of which is a firm commitment, and the issuance of an aggregated 1 M shares to the vendors. A 30% royalty on the operating profit of direct shipping operations (for the first 450 K tonnes), or a 2% NSR otherwise.
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, setting up a geophysical survey in northeastern Chihuahua, circa year 2000. Photo by Jorge Cirett.