Highlights on the First Week of November, 2018. Mining and Exploration News in Mexico

IMG_4536 - copia

By Jorge Cirett

During the 44th week of the year (October 29th to November 4th, 2018), at least 26 press releases were announced by companies working in Mexico. Prize Mining, Southern Silver, Kootenay, Excellon, Colibri, Golden Minerals and Galore released advances in exploration. Consolidated Zinc and Telson released news on mining, while Endeavour, Excellon and  Great Panther reported Q3 financial results. Aloro Mining and Sonoro Metals reported news related to financing. Goldplay and SilverCrest reported on advances on its properties, while Silver Bull presented an updated resource base. Marlin Gold and Golden Reign advance on their acquisition agreement and Colibri entered into a purchase agreement with Yaque Minerals. Golden Minerals is acquiring the Yoquivo property in Chihuahua. ON MEXICO ISSUES, CAMIMEX presented figures on the state of the mining industry in Mexico. ON EXPLORATION, In Sonora, Colibri described its El Mezquite and Jackie projects. In Chihuahua Golden Minerals released high-grade results from its Yoquivo project, and Kootenay presented interesting results from early exploration on its Mecatona project. In Coahuila, Prize Mining is doing regional exploration on its Manto Negro project. In Durango, Southern Silver presented significant results from drilling on its CLM West claim group. In Zacatecas, Galore has received permit to drill on its El Alamo claim. ON FINANCING, Sonoro has completed a private placement for $500 K. Aloro Mining completed its placement for gross proceeds of C$800 K. ON RESOURCES AND DEVELOPMENT, Goldplay reported results from sampling historical core at its San Marcial project in Sinaloa. Silver Bull presented an updated resource on its Sierra Mojada project in Coahuila. SilverCrest presented high-grade results from infill drilling at its Las Chispas project in Sonora. A PEA is to be completed for a 1,000 to 1,500 tonne/day underground operation. ON DEALS AND CORPORATE ISSUES, Golden Reign, Marlin Gold and Sailfish Royalties continue to advance its purchase agreement. Colibri Resource is to acquire Yaque Minerals S.A. de C.V. owned by OnTop Capital. Golden Minerals holds an option to acquire the Yoquivo property in Chihuahua.

ON MEXICO ISSUES

  • In AIMMGM’s past conference in October, Fernando Alnis from CAMIMEX (Cámara Minera de México) presented figures from the mining industry in Mexico. Mineral royalties collected US$220 M in 2017, adding up to US$631 M on the last four years. An additional US$248 M were invested by companies in the communities and environment where they are located. Just in mining duties over concessions amounted to US$132.9 M. In the attractiveness index for investment, Mexico has gone from the 11th place in 2011 to the 44th place in 2018. At the same time our direct competitors for investment in the mining industry are doing better, Peru passed from the 39th to the 19th position, and Chile from the 6th to the 8th position. Points suggested to make of Mexico a mining country include improvements in security, a better infrastructure (railways, ports), certainty on land rights, a common ground with other mining countries in fiscal terms, administrative efficiency in the application and issuing of mining concession titles and certainty and transparency in the timely granting of permits.

ON EXPLORATION

  • Prize Mining Corp. engaged a consultant to compile a GIS database for a regional exploration program on its 17,659 ha Manto Negro project in Coahuila. The 3,000 m drill program continues with its focus on the Granizo and Pilar Grande areas.
  • Southern Silver Exploration Corp. reported drill results from its CLM West claim group, adjacent to its Cerro Las Minitas project in Durango. One of three holes intercepted 3.0 m @ 168 g/t Ag, while the other two returned strong (up to 0.1%) arsenic and antimony anomalies. “The mineralization represents the first significant silver intercept identified on the CLM West claim group where drilling is targeting new Ag-Au epithermal systems”.
  • Kootenay Silver Inc. staked 2,857 ha in Chihuahua, creating the Mecatona project. The Ag dominant epithermal system is hosted in veins and breccias, with one anomalous structure running for more than 1.7 km, and another zone hosting stockworks and quartz veinlets in an 80 m wide argillic alteration zone. Results from 78 samples collected at the property are as high as 735 g/t Ag, 6.94 g/t Au, 3.5% Pb, 8.0% Zn.
  • Excellon Resources Inc. received title to concessions that increases its land position to over 45,000 hectares on its consolidated “Evolución” property, within the Miguel Auza district in Durango, along strike to HECLA’s San Sebastian mine. As announced in previous press releases, initial drilling has already shown broad mineralized intersections with anomalous Au, Ag, Pb, Zn, “including discrete higher‐grade zones of carbonate veining, bladed calcite and silica with galena, sphalerite and pyrite”.
  • Colibri Resource Corp. described the El Mezquite and Jackie projects in Sonora, its new properties through the acquisition of Yaque Minerals S.A. de C.V. from On Top Capital Ltd. The 180 hectares Mezquite project contains an alteration zone 2 km by 1 km , within which are at least four zones of sulfide oxidation related to contacts with a silicified feldspar porphyry. Assay results from 321 rock chip samples returned 42 samples over 0.1 g/t Au, averaging 0.74 g/t Au and up to 3.41 g/t Au, 198 g/t Ag. The 1,130 ha Jackie project is 2 km south of El Mezquite, and abuts to the east with the Santana project, owned by Minera Alamos.
  • Golden Minerals Co. released high-grade results from sampling at its Yoquivo project in Chihuahua. Highlighted results comprise 6 m @ 5.9 g/t Au, 937 g/t Ag; 6 m @ 1.7 g/t Au, 399 g/t Ag from the Pertenencia vein. 4 m @ 2.3 g/t Au, 489 g/t Ag from the Central breccia zone. 2.9 m @ 1.7 g/t Au, 345 g/t Ag from the San Francisco vein. To date 756 samples have been collected, identifying a series of low-sulfidation quartz veins and breccias. A regional exploration program was launched to search for additional veins.
  • Galore Resources Inc. has been granted permits to begin a 12-hole, 3,000 m diamond core drill program at its El Alamo claim in Zacatecas. El Alamo consists of Cretaceous sediments, mostly limestone with some siltstone and chert, and major faults bounding the project. Alteration and mineralization are represented by silicification and iron-oxide bodies after sulfides. Some of the higher grade gold values are associated with extensively iron-oxide jasperoid breccias. A shallow drill percussion camping collared 35 holes in 2012, and defined a 500 long by 200 wide target zone.

ON MINING

  • Consolidated Zinc Ltd. presented its September 2018 quarterly activities report. The Group entered a 12 month toll treatment and offtake purchase agreement with Grupo Mexico to treat its ore at the Santa Eulalia’s concentrator plant, with mining at the Plomosas mine in Chihuahua beginning on September 13th 2018. A detailed costing study (DCS) was completed and incorporated into a bankable feasibility study (BFS). “During the quarter the Mexican Environmental Authority (PROFEPA) provided the Company with an MIA Exception (EPA exception) for the mine and processing plant area”. Cash balance at the end of the period was $0.61 M.
  • Telson Mining Corp. reported concluding a renewable power purchase agreement for its Campo Morado mine in Guerrero. The ten-year agreement sets the price for consuming 42.00 GW per year at a price that is 32% lower than the last nine-month average price paid at the site.
  • Endeavour Silver Corp. reported third quarter 2018 financial results. During the period silver production (1.43 M Oz) increased 13% and gold (12,968 Oz) decreased by 5%, with a silver equivalent production of 2.4 M Oz, and the Terronera pre-feasibility study was completed with improved project economics. On the financial side a net loss of $5.5 M was recorded, with EBITDA decreasing 8% to $5.6 M, mine operating cash flow decreased 20% to $9.6 M, cash cost rose to $8.86 per Oz Ag (net of gold credits) and All-in sustaining cost fell to $16.14 per Oz Ag, with a working capital of $57.4 M, whilst $5.6 M were raised through ATM financing.
  • Excellon Resources Inc. reported financial results for the third quarter 2018. During the period 10,974 of ore were produced, 17,907 tonnes processed (ore and stockpile), grading 416 g/t Ag, 3.47% Pb, 4.33% Zn (for ore) and 151 g/t Ag,1.36% Pb, 1.45% Zn (stockpile), recovering 89.9% Ag, 74.2% Pb, 78.2% Zn to produce 171.2 K Oz Ag, 824 K Lb Pb, 1,005 K Lb Zn. Revenue was $2.6 M ($7.6 M a year earlier) for a gross loss of $3.5 M from operations, cash cost of $29.94 per Ag Oz and All-in sustaining cost of $44.02 per Ag Oz. Financial results were impacted by lower production, lower by-product prices and associated price adjustments. Management changes were made at the Platosa mine, and now production and development rates have increased.
  • Great Panther Silver Ltd. presented third quarter 2018 financial results. During the period 92.9 K tonnes were milled to produce 448.8 K Oz Ag, 4,737 Oz Au (adding to 1.023 M Oz AgEq) at cash cost $12.79 per Ag Oz ($13.59 per AgEq Ag Oz), all-in sustaining cost $19.74 ($16.56 per AgEq Oz). The revenue was $11.7 M, with a net loss of 3.642 M, EBITDA of $(3.679) and a networking capital at end of period of $57.9 M. Lower metal prices, lower production levels and a large concentrate load that could not be shipped before the end of the period impacted on the lower results.

ON FINANCING

  • Aloro Mining Corp. closed a non-brokered private placement for gross proceeds of C$800 K. Agnico Eagle, which owns 8.7% of Aloro shares, bought half the issued shares. (Los Venados, Sonora).
  • Sonoro Metals Corp. completed a non-brokered private placement, for gross proceeds of $500 K (Cerro Caliche, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Goldplay Exploration Ltd. reported results from sampling historical drill core from its San Marcial project in Sinaloa. These results are said to support the open pit potential for the historical NI-43-101 resource at the property. Highlighted results comprise 47.8 m (TW) @ 93 g/t AgEq (including 17.3 m @ 160 g/t AgEq); 42.0 m @ 61 g/t AgEq (including 24.8 m @ 79 g/t AgEq); 9.4 m @ 126 g/t AgEq.
  • Silver Bull Resources Inc. provided an updated NI43-101 resource report for the Sierra Mojada project in Coahuila. The open pit resource includes a high grade zinc zone of 13.5 M tonnes @ 11.2% Zn and a high grade silver zone with 15.2 M tonnes @ 114.9 g/t Ag. The total measured and indicated resources 70.4 M tonnes @ 38.6 g/t Ag, 3.4% Zn containing 5.354 billion pounds zinc and 87.4 M ounces silver.Sierra Mojada Resource table1
  • SilverCrest Metals Inc. is to complete a preliminary economic assessment (PEA) for Las Chispas project in Sonora. A 1,000 to 1,500 tonne per day underground mining operation is being considered, with a counter-current decantation facility and Merrill Crowe recovery circuit similar to the nearby Santa Elena and Mercedes mines. Cyanidation with a possible add-on flotation circuit followed by intense leaching is being evaluated for the higher-grade ore, to raise the 86% Ag, 98% Au recovery with standard cyanidation only. SilverCrest is proceeding with the construction of a 500 m long, 4.5 m wide, 4.0 m high decline, and drifting 600 to 800 m along the mineralized structure to collect information on vein grade, width continuity, grade reconciliation, mineability and bulk sampling.
  • SilverCrest Metals Inc. reported the best drill intercept to date for its Las Chispas project in Sonora. Results from 7 drill holes from the in-fill program were released, with highlighted intervals (TW) comprising 9.9 m @ 14.4 g/t Au, 2,132 g/t Ag (this is the best intercept to date, including 4.5 m @ 30.3 g/t Au, 4,498 g/t Ag); 3.8 m @ 6.78 g/t Au, 1,090 g/t Ag; 3.5 m @ 33.06 g/t Au, 2,092 g/t Ag; 11.1 m @ 3.99 g/t Au, 580 g/t Ag; 5.1 m @ 4.16 g/t Au, 197 g/t Ag; The weighted average for the five holes on the Area 51 is 6.0 m @ 11.41 g/t Au, 1,369 g/t Ag. A total of 351 holes have been collared, for 94,735 m of core, with 119 drill intercepts grading more than 1,000 g/t AgEq.

ON DEALS AND CORPORATE ISSUES

  • Sailfish Royalty Corp. announced its shareholders voted in favor of the restructuring of the company’s gold stream on the San Albino project. The stream restructuring is a condition to the closing of the transaction in which Golden Reign Resources Ltd. will acquire all issued shares of Marlin Gold Mining Ltd. (Trinidad, Sinaloa).
  • Marlin Gold Mining Ltd. shareholders voted in favour of a special resolution to approve the plan of arrangement and certain connected transactions, pursuant to which Golden Reign Resources Ltd. (“Golden Reign”) will acquire all of the issued and outstanding shares of Marlin (Trinidad, Sinaloa).
  • Golden Reign Resources Ltd. and Marlin Gold Mining Ltd. have been granted the final court order from the Supreme Court of British Columbia approving the plan of arrangement pursuant to which Golden Reign will acquire all of the issued and outstanding common shares of Marlin (Trinidad, Sinaloa).
  • Colibri Resource Corp. entered into a share purchase agreement with OnTop Capital Ltd. to purchase all issued and outstanding shares of Yaque Minerals S. A. de C.V., a wholly owned subsidiary of OnTop. Yaque assets consist of El Mezquite and Jackie mineral exploration properties close to the Santana project owned by Minera Alamos in Sonora. “As consideration for the Transaction, Colibri has agreed to issue a convertible debenture in the amount of $1 million CDN bearing an annual interest rate of 2.5% which is convertible at any time, in whole or in part, over the next 5 years into common shares of Colibri at $0.20 per share for a total of up to 5 million shares”.
  • Golden Minerals Co. holds an option to purchase the six concessions that comprise the 2,367 hectares Yoquivo property in Chihuahua, for payments totaling $0.5 M over four years and subject to a 2% NSR royalty.

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 above, intermediate composition dike with chilled margins intruding andesitic volcanic rocks in Jalisco. Picture by Jorge Cirett.

Highlights on the Fourth Week of September, 2018. Mining and Exploration News in Mexico

 

Bladed quartz texture

By Miguel A Heredia

During the 39th week of the year (September 24th to September 30th, 2018), at least 19 press releases were announced by companies working in Mexico, with seven informing on exploration results, five announcing financing issues, four communicating deals and corporate issues, two reporting mining activities and one reporting on resources and developments.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Mexus Gold announced a drill program at the Julio Shear Zone within its Santa Elena project. In Chihuahua, Ethos Gold provided an update on its la Purisima project, and Harvest Gold announced that a drill program will commence shortly on its Cerro Cascaron project. In Coahuila, Discovery Metals released exploration results from its Puerto Rico project. In Jalisco, Evrim expanded gold mineralization at its Cuale project. In Veracruz, Azucar Minerals revealed drilling results from its El Cobre project. In Estado de Mexico, Impact reported sampling results from its Santa Teresa Au-Cu area. ON MINING, Telson provided an update on its Campo Morado mine in Guerrero and Goldcorp announced that will release Q3, 2018 results on October.  ON FINANCING, Defiance increased a loan facility from $700K to up to $1,120,810. Harvest Gold raised $980K from the purchase of 12.25M of warrants. Telson announced a non brokered private placement for CAD$6.5M. Avino closed a US$4.6M underwritten public offering.  Consolidated Zinc announced a share purchase plan to raise funds. ON RESOURCES AND DEVELOPMENT, Goldplay announced sampling results of historical core from its San Marcial project in Sinaloa.  ON DEALS AND CORPORATE ISSUES, Ethos Gold entered in an option agreement to expand its La Purisima project in Chihuahua. Southern Silver provided a corporate update (Cerro Las Minitas, Durango). Alamos Gold declared semi-annual dividend (Mulatos mine, Sonora) and Gold Resource monthly dividend (El Aguila mine, Oaxaca).

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Mexus Gold US, is to commence a drilling program at the 2,200m long by 300m wide Julio Shear Zone within its Santa Elena project in Sonora. The 12 hole core drill program “is to establish structural features, the types of mineralization and define up to 100K Oz Au resource in about a 500,000 ton resource block, building towards a future 43-101 report”.
  • Ethos Gold Corp., reported that has completed a rock sampling and geological mapping program on its La Purisima project in Chihuahua. “Work to date indicates at least five sub parallel north-west striking mineralized veins with significant broad vein enveloping areas of gold mineralized stockwork in intervening rock between the veins. Additionally, gold mineralized vein splays and stockwork zones diverge from the primary veining, usually into northeast trends”. Ethos has designed an angled holes drill program to test targets at its la Purisima property. Permitting for the drill program is now underway.
  • Harvest Gold Corporation, announced that a first phase drilling program will commence shortly on its Cerro Cascaron project in Chihuahua. The first phase plan for diamond drilling consists of 14 diamond drill holes comprising 3,000m to 3,500m in five of eight target areas on the property which have been defined by rock channel, grab and soil samples.  Planned drill hole depths range from 100m to 300m.
  • Discovery Metals Corp., released results from an underground channel sampling at its Puerto Rico project in Coahuila. Highlights results are 1.8m of 101 g/t Ag, 9.5% Pb and 20% Zn on “Manto 7”; 1.4m of 116 g/t Ag, 6.1% Pb, and 22.5% Zn on “Manto 12”; and 1.1m of 253 g/t Ag, 10.8% Pb, and 11.7% Zn on “Manto 8”; 0.8m of 279 g/t Ag, 27% Pb, and 26.5% Zn on “Chimney NW1”; 0.6m of 484 g/t Ag, 22.7% Pb, and 22.1% Zn; and 0.5m of 701 g/t Ag, 43.5% Pb, and 5.9% Zn.
  • Evrim Resource Corp., expanded outcropping Au mineralization at its Cuale project in Jalisco. Trenching on the La Gloria area extended the outcropping mineralization to the southwest where continuous mineralization remains open, and the CSAMT geophysical survey confirmed at least 200m of depth potential beneath the trenches. Highlights of the trenching sampling at la Gloria are T-6 with 158.8m of 1 g/t Au, including 90.8m of 1.44 g/t Au from 66m along the trench, and 14.8m of 5.19 g/t Au from 142m along the trench; and T-7 with 141.1m of 0.72 g/t Au, including 80m of 1.02 g/t Au from 107.1m along the trench, and 40m of 1.42 g/t Au from 145.1m along the trench. The sampling results define a NW trend of Au mineralization along 1,430m, including the North Dome Target that contains assays up to 11.9 g/t Au, and reveals a new drill target 1Km NW of the La Gloria trenches. The CSAMT geophysical survey also defined a prospective silica target extending 200-300 directly beneath the trenches at La Gloria area, doubling the depth potential. Evrim is interpreting all the results to refine and finalize drill hole location for the initial drilling program at its Cuale project.
  • Azucar Minerals Ltd., revealed drill results from its El Cobre project in Veracruz. Significant intersections are in hole EC-18-049, Norte Zone with 44m of 0.47 g/t Au and 0.32% Cu, including 10m of 0.88 g/t Au and 0.47% Cu, and 10m of 0.53% Au and 0.39% Cu, and hole EC-18-051 Norte Zone with 227m of 0.37 g/t Au and 0.14% Cu, including 12m of0.80 g/t Au and 0.32% Cu, 75.5m of 0.61 g/t Au and 0.19% Cu, 12.5m of 1.17 g/t Au and 0.33% Cu, and other interval of 118m of 0.70 g/t Au and 0.23% Cu, including 6m of 1.09 g/t Au and 0.34% Cu.
  • Impact Silver Corp., reported assay results from its Santa Teresa Au-Cu area within the Zacualpan District in Estado de Mexico. A recent sampling from the El Canelo vein systems at Santa Teresa averaged 6.5g/t gold over a true width of 1.66 meters along a strike length of 50 meters. The system remains open for expansion and parallel vein systems in the area are being mapped and sampled at this time.

ON MINING

  • Telson Mining Corporation, provided an update on its Campo Morado mine in Guerrero. The company made several upgrades in the mill processing plant to increase the grinding capacity of the mill to process up to 3,000 tonnes per day by the end of 2018. The company also conducted metallurgical testing obtaining favourable results for increasing the quality of Zn concentrates.

ON FINANCING

  • Defiance Silver Corp., increased a loan facility from $700K to $1.12M. This financing is to complete its proposed merger with ValOro Resources Inc. (San Acacio, Zacatecas).
  • Harvest Gold Corporation, announced that 12.25M of warrants were exercised for aggregate proceeds of $980K. (Cerro Cascaron, Chihuahua).
  • Telson Mining Corporation, announced a non-brokered private placement for CAD$6.5M. Net gross proceeds will be used for finalizing construction of its Tahuehueto mine in Durango.
  • Avino Silver & Gold Mines Ltd., closed a US$4.6M underwritten public offering, including the partial exercise of underwriters´ overallotment option. After deducting the underwriting discounts and commissions, the net proceeds are expected to be approximately US$4.1M (Avino mine, Durango).
  • Consolidated Zinc Limited, invited to its shareholders to participate in a share purchase plan with no brokerage cost to raise $1.5M (Plomosas mine, Chihuahua).

 

ON RESOURCES AND DEVELOPMENT

  • Goldplay Exploration Ltd., reported sampling results of historical core from its San Marcial project in Sinaloa. Significant results are 93m (TW 68m) of 104 g/t Ag or 165 g/t Ag Eq, including 10m of 324 g/t Ag or 508 g/t Ag Eq; 57m (TW 46m) of 122 g/t Ag or 270 g/t Ag Eq; 42m (TW 39.6m) of 80 g/t Ag or 153 g/t Ag Eq; 35m (TW 32m) of 38 g/t Ag or 64 g/t Ag Eq; 19.2m (TW 12.6m) of 130 g/t Ag or 144 g/t Ag Eq; 12m (TW 12m) of 419 g/t Ag or 467 g/t Ag Eq, including 6m of 939 g/t Ag or 1,012 g/t Ag Eq. These results, together with the historical results, reinforce open pit development potential at San Marcial. “The continuous sampling from the historical core is providing valuable information to expand and connect mineralized zones previously modeled in the historic resource”.

ON DEALS AND CORPORATE ISSUES

  • Ethos Gold Corp., entered in an option agreement in Chihuahua to earn a 100% right, title and interest in and to 897 hectares of mineral concessions contiguous to its La Purisima project. Ethos can exercise the option by paying the property owner US$550K and granting 2% NSR of which the company can purchase 1% by paying US$1.0M. It also includes advance NSR payments of US$25K on closing, US$35K by the first anniversary, US$35K by the second anniversary, and US$50K by the third anniversary and by each subsequent anniversary until commercial production is commenced. In addition, Ethos will assign 1.5M Ethos warrants, having a 5-year term, and each exercisable to purchase one Ethos common share at CAD$0.15 per share, with these warrants vesting as to 500K on closing, 500K vesting 18 months, and 500K vesting 36 months after closing.
  • Southern Silver Exploration Corp., announced the re-election of Directors at its annual general meeting and granted 800K incentive stock options to directors, officers and consultants.
  • Alamos Gold Inc., declared semi-annual dividend to its shareholders of US$0.01 per common share (Mulatos mine, Sonora)
  • Gold Resource Corporation, declared monthly dividend to its shareholders of 1/6 of a cent per common share (El Aguila mine, Oaxaca).

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,  bladed quartz texture in a low sulphidation epithermal project in Zacatecas, Mexico.  Photo by Miguel A Heredia.

 

Telson Mining Corporation Campo Morado Update

telson_campo morado update

Vancouver, British Columbia, Sept 24, 2018

Telson Mining Corporation (“Telson” or the “Company”) (TSX-V – TSN, OTC Pink – SOHFF, Frankfurt – TSGN (formerly SQ82)) is pleased to provide the following corporate update.

Several scheduled upgrades were recently made in the mill processing plant installations, including among others: i) changing of ball mill liners with newly designed liners that allow for the replacement of the past 5″ ball that were being used, with 3” balls, which increases the life of the liners; ii) conducting a review of the primary jaw crusher and initiation of adaptations for the installation of a secondary cone crusher, which will reduce the size of the ore feed to the mill from -7″ to -2″; and iii) revising the cyclones classification system to reduce the circulating load in grinding. These changes are all aimed at increasing the grinding capacity of the mill to facilitate reaching managements target of processing up to 3,000 tpd by the end of 2018.

Highlights on the Second Week of September, 2018. Mining and Exploration News in Mexico

Banded quartz epithermal vein

By Miguel A Heredia

During the 37th week of the year (September 10th to September 16th, 2018), at least 22 press releases were announced by companies working in Mexico, with ten informing on exploration results, six reporting on resources and developments, four communicating deals and corporate issues, and two announcing production results.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Riverside and Kootenay announced exploration results from its Cecilia and La Mina projects respectively. In Chihuahua, Harvest Gold began preparations to drill test its Cerro Cascaron project and Sable Resources released drilling results from its Margarita project.  In Sinaloa, Auxico reported sampling results from its Zamora project In Durango, Gainey announced a 1st phase of exploration at its Las Margaritas project, Orex commenced fieldwork exploration on its San Luis del Cordero project, and Prospero reported drilling results from its Buenavista project. In Zacatecas, Advance Gold started a phase 2 drilling program at its Tabasquena project. In Jalisco, Evrim announced trench and soil results from its Cuale project.  ON MINING, Starcore reported Q1 2018 results from its San Martin mine in Queretaro. US Antimony announced plans to increase its production of Sb, Au and Ag in Mexico. ON FINANCING, no relevant news. ON RESOURCES AND DEVELOPMENT, In Sonora, SilverCrest and Premier Gold released drilling results from its Las Chispas and Mercedes projects respectively. Aura provided an update at its Aranzazu mine in Zacatecas. Candelaria announced a PEA for its Pinos Gold project in Zacatecas.   McEwen reported that hopes to add 12 years of mine life at its El Gallo Complex in Sinaloa.  ON DEALS AND CORPORATE ISSUES, Evrim and First Majestic agreed to exercise the Ermitaño and Cumobabi option agreements in Sonora. New Gold announced the appointment of its new President and CEO (Cerro San Pedro mine, San Luis Potosi). Levon announced results from its annual general meeting (Cordero project, Chihuahua). Vangold withdrew its submission to acquire the San Carlos property in Guanajuato (El Pinguico mine, Guanajuato).

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Riverside Resources Inc., completed 11 N-S lines for soil sampling which returned strong multi-elements anomalies with Au, Pb, Cu, and other key elements. These results along with previous exploration work have outlined four new target areas on its Cecilia project in Sonora. Target 1 is a 4km long by 300m wide target where previous rock sampling has found up to 2 g/t Au in silicified conglomerates , but the soil anomaly is open in both directions beyond the 4 Km and more than 800m wide. Target 2 is a NE trending Ag, Pb, Au, Zn, Sb, Hg and Cu soil anomaly over 2km long and 600m wide in rock cracks with faults and host veining displaying a series of NW striking feeder dikes. Target 3 is a 1km long by 500m wide Au-Zn with minor Ag, Cu, Pb and Bi soil anomaly associated to a N-S trending fault system intersecting Paleozoic limestones. This target is also along the border edge of a magnetic high reported in a regional government geophysics survey likely associated with Pre Cambrian granitic basement.  Target 4 contains “high-grade gold samples in soils and alteration with jasperoid, silicification, and carbonate veining of the Paleozoic limestone that gives a potential limestone hosted Au with anomalous soil assays of Zn, Pb, Ag and Mn”.
  • Kootenay Silver Inc., announced that its partner Capstone Mining Corp., has commenced an exploration program on its la Mina project in Sonora. The exploration program will consists of detailed mapping and rock chip / stream sediment sampling to generate potential drill targets.
  • Harvest Gold Corporation, reported that Evrim Resources, its JV partner and operator on its Cerro Cascaron project in Chihuahua, has mobilized an advance team to the site to start preparations to drill test the property. The drill program, expected to commence at the end of September, will consist of 3,000 m to test the Cascaron Gold targets and the Cascarita Silver targets.
  • Sable Resources, released drilling results from its Margarita project in Chihuahua. Significant intersections are from hole M-DDH-18-09 with 6.5m of 111 g/t Ag Eq, including 3.5m of 153 g/t Ag; hole M-DDH-18-11 with 11.3m of 252 g/t Ag Eq, including 1.3m of 889 g/t Ag Eq; hole M-DDH-18-12 with 12.7m of 98 g/t Ag Eq, including 1.8m of 244 g/t Ag Eq. Additionally, Sable identified a low-grade stockwork style of mineralization evident in numerous holes. The most significant results are hole M-DDH-18-03 with 44.13m of 50 g/t Ag Eq, including 6.95m of 142 g/t Ag Eq; hole M-DDH-18-07 with 7.6m of 54 g/t Ag Eq, and hole M-DDH-18-12 with 21.35m of 37 g/t Ag Eq. “With the first stage of drilling now complete we will evaluate our results and formulate a plan for stage 2 drilling targeting further extensions of Margarita and the other adjacent parallel veins”.
  • Auxico Resources Canada Inc., reported high-grade sampling results from its Zamora project in Sinaloa. Significant results are 0.80m of 4Kg Ag and 29.2 g/t Au at La Franca claim, 600m southwest of the Campanillas mine along a structure that can be followed by at least 600m along strike. Mineralization consists of breccia-stockwork veining containing galena, sphalerite and possible silver sulphosalts, malachite and chalcopyrite. Other significant results are from Aguamas area where some channel samples returned 0.65m of 6.38 g/t Au and 23 g/t Ag; 0.70m of 14.7 g/t Au and 34 g/t Ag; 0.50m of 3.55 g/t Au and 108.7 g/t Ag; and 1.60m of 6.64 g/t Au and 220 g/t Ag.
  • Gainey Capital Corp., announced a phase 1 exploration program on its Las Margaritas project in Durango. Las Margaritas is a mineralized vein system that extends at least 1.5Km along strike and averages 1-2m in width. The 1st phase exploration program will consists of detailed mapping and sampling with the objective to identify prospective areas to generate the best drill targets.
  • Orex Minerals Inc., commenced an exploration program on its San Luis del Cordero project in Durango, where the company has an option to acquire 100% interest in the property from Exploraciones del Altiplano S.A. de C.V. Mineralization at San Luis del Cordero is characterized by skarn and epithermal vein Ag-Cu-Zn as a result of Tertiary-quartz-feldspar-porphyry intrusions affecting Jurassic and Cretaceous limestones, calcareous sandstones and shales. The project has seen several phases of exploration from different mining companies, including 16,400m drilled in 62 holes in the period 2000-2016. The property contains indicated resources of 662.6K tonnes of 121 g/t Ag, 0.78 % Cu and 1.1 % Zn for a total of 5.1M Oz Ag Eq, and inferred resources of 2, 785,300 tonnes of 144 g/t Ag, 0.75 % Cu and 1.45 % Zn, for a total of 24.4 M Oz Ag Eq.
  • Prospero Silver Corp., reported core drilling results from eleven holes totaling 2, 811m drilled at its Buenavista project in Durango. Mineralization drilled-tested at Buenavista consists of structurally controlled epithermal veins centered on a rhyolite dome complex. “All holes cut anomalous silver mineralization, with a best interval of 1.6m @ 353g/t Ag from 185.6m downhole, within a broader interval of 49m @ 43g/t Ag in hole BVF-18-05”.
  • Advance Gold Corp., started a second phase drilling program at its Tabasquena project in Zacatecas to test the La Tabasquena epithermal vein at a depth of 1,800m. Phase 2 will test below the gold discovery hole of phase 1. It also will test some of the potential feeder type targets and all of the veins below the oxide zone which goes down to an estimated 175 metres below surface.
  • Evrim Resources Corp., announced new trench and soil results from its Cuale project in Jalisco. Highlight results include the trench 2 which was extended from 29.4m to 184.1m with an average grade of 0.85 g/t Au, including 59.1m of 1.79 g/t Au, and including 21.6m of 4.18 g/t Au; Trench 4 , extended from 106.2m to 156.2m with an average grade of 9.57 g/t Au, including 64.6m of 20.85 g/t Au, and including 7.5m of 163.31 g/t Au; and Trench 5 which contains 174m of 0.62 g/t Au, including 70m of 1.16 g/t Au, and including 40m of 1.45 g/t Au. A soil grid with 200 metre spacing outlined a Au anomaly over the entire La Gloria prospect with grades >0.01 g/t Au of 2,300m by 800m with a central corridor of 1,700m by 300m >0.1 g/t Au extending north of the trenched area.  “The soil anomaly at higher elevation correlates with elevated silver, antimony, molybdenum, arsenic and low contents of manganese and zinc.  At lower elevations gold correlates with elevated copper, tellurium, arsenic, bismuth and iron”. “The new trench results expand the La Gloria zone to the northwest and the east with consistent gold mineralization.  Soil sampling indicates the La Gloria system footprint is measurably larger with the potential to host a significant deposit and/or additional mineralized centers within the La Gloria prospect”.   “The soil survey has a distinctive high sulphidation signature centred on a large gold in soil anomaly that is approximately 2,300 metres by 800 metres.  The results indicate a potential major system with significant upside for additional mineralized centers within the La Gloria prospect.”

ON MINING

  • Starcore International Mines Ltd., reported Q21 2018 results from its San Martin mine in Queretaro. Starcore milled 77,400 tonnes of 1.53 g/t Au and 49 g/t Ag to produce 3.3K Oz Au and 72.7K Oz Ag, with an all-in sustaining cost of US$ 1,215 for Eq Oz. Metallurgical recoveries were 88.1% for Au and 59.6% for Ag.
  • US Antimony Corporation, produced 131,184 Lb Sb and 1,244 short tonnes of zeolites in August 2018 and announced plans to increase its production of Sb, Au and Ag in Mexico. At its Wadley mine in San Luis Potosi, the general level will be reactivated by cleaning up the waste to provide access and transportation of the lower grade for the mill. At Sierra Guadalupe in Zacatecas, the Santa Monica drift will be restarted. The ore is primarily sulphides and can be upgraded to 60-70% Sb flotation concentrate at its Puerto Blanco Mill to make antimony tri-sulphide. At the Soyatal district in Queretaro, a buying program will be started to purchase direct shipping ore for its Madero smelter. The construction of the cyanide leach plant for the Los Juarez Au-Ag-Sb should allow pilot testing to commence during Q4 2018. The company also closed an agreement purchase, dismantle and transport an antimony plant from Reynosa, Tamaulipas. When installed, the equipment from the Reynosa plant will increase the capacity of the Madero Smelter in Coahuila to approximately 30,000,000 Lb per year of antimony oxide.

ON FINANCING

  • No relevant news.

 

ON RESOURCES AND DEVELOPMENT

  • SilverCrest Metals Inc., released drilling results from its Las Chispas project in Sonora and expanded the high grade at Babicanora Norte vein. Drill holes have intersected additional high-grade Ag-Au mineralization at Babicanora Norte vein which is located about 300m NE of Babicanora vein and apparently is connected with the Granaditas area which contains multiple veins to the southeast. The most significant results are 1.8 m of 15.11 g/t Au and 1,718 g/t Ag or 2,851 g/t Ag Eq, 1.6 m of 8.96 g/t Au and 1,078 g/t Ag or 1,750 g/t Ag Eq and 1.5 m of 4.22 g/t Au and 687 g/t Ag or 1 Kg Ag Eq. The drilling results of Babicanora Norte vein will be part of the upcoming updated resource which will include 8 of the 30 identified veins in the district.
  • Premier Gold Mines Limited, reported drilling results from the Rey de Oro deposit at its Mercedes mine in Sonora. Highlights results include hole UG-R018-013 which returned 12.64 g/t Au and 240.1 g/t Ag across 29.65 m (TW of 13.5 m), hole UG-R018-015 with 0.41 g/t Au and 3120.0 g/t Ag (91.0 oz/ton) across 1.52 m (TW of 1.06 m), and hole UG-R018-012 with 17.00 g/t Au and 321.0 g/t Ag across 1.1 m (TW of 0.8 m) and 4.47 g/t Au and 138.5 g/t Ag across 8.25 m (TW of 6.1 m). “Underground drilling at Rey de Oro consists of step-out and delineation drilling of this recently developed horizon. This drilling continues to intersect some of the widest vein intercepts on the property and demonstrate the potential to continue to extend the mine life at Mercedes”.
  • Aura Minerals Inc., provided an update at its Aranzazu mine in Zacatecas. Aura has obtained all the necessary permits and initiated the construction of the new tailings disposal system. “The Company expects the Aranzazu mine to achieve commercial production later this year and to achieve the average processing of 2,600 tonnes per day shortly thereafter”.
  • Candelaria Mining Corp., announced a PEA for its Pinos Gold project in Zacatecas. Highlight results from the PEA indicate an after tax net present value (NPV) of US$ 12M using a 5% discount rate, an after tax internal rate return (IRR) of 25%, and a 7 years life of mine with projected gold equivalent ounce (“GEO”) production of 89,000. The PEA includes a mineral resource estimate as of September 13, 2018. Measured resources (Dump) are 85,847 tonnes of 1.6 g/t Au and 83 g/t Ag for a total of 4,444 Oz Au and 229K Oz Ag. Indicated resources are 175,697 tonnes of 3.6 g/t Au and 47 g/t Ag for a total of 20.6K Oz Au and 268K Oz Ag. Inferred resources are 529,267 tonnes of 3.6 g/t Au and 48 g/t Ag for a total of 60.7K Oz Au and 811K Oz Ag. Average recovery for Au and Ag are 90 and 80% respectively. The company plans to have an annual production of 12,700 GEO with an overall average direct cash cost of %US 666 per GEO.
  • McEwen Mining Inc., reported that hopes to add 12 years of mine life at its El Gallo Complex in Sinaloa, combining mineralized sources from five locations that will be developed in two distinct process plant construction phases. McEwen plans to produce 47K Oz Au Eq per year.
  • Bacanora Lithium plc., announced plans to start the mine construction on its Sonora Lithium project in Sonora. $US 420M will be invested in the first phase and is expected to begin to operate in 2020.

ON DEALS AND CORPORATE ISSUES

  • Evrim Resources Corp., and First Majestic Silver Corp., agreed to exercise the Ermitaño and Cumobabi option agreements in Sonora. First Majestic has completed its 100% earn-in for both projects. First Majestic has paid $1.5M in cash to Evrim and has granted a 2% NSR in the case of Ermitaño project and 1.5% NSR in the case of Cumobabi project.
  • New Gold Inc., announced the appointment of its new President and CEO (Cerro San Pedro mine, San Luis Potosi).
  • Levon Resources Ltd., released results from its annual general meeting (Cordero project, Chihuahua).
  • Vangold Mining Corp., withdrew its submission to the TSX Venture Exchange to acquire the San Carlos property in Guanajuato.

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

On the picture above, a banded quartz vein in an intermediate sulphidation epithermal project in Zacatecas, Mexico.  Photo by Miguel A Heredia.

Highlights on the Third Week of July, 2018. Mining and Exploration News in Mexico

By Miguel A Heredia

During the 29th week of the year (July 16th to July 22th, 2018), at least 30 press releases were announced by companies working in Mexico, with twelve informing on exploration results, nine announcing production results, four reporting on resources and developments, three communicating deals and corporate issues, and two  announcing financing issues.  ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Baja California Norte, One World Lithium presented geophysical results from its Salar del Diablo project. In Sonora, Colibri reported drill results from its El Pilar project, Minaurum reported exploration results from its Promontorio-Quintera project, San Marco announced exploration results from its Chunibas exploration program, and Millrock and Azure provided an exploration update on their Mexican properties. In Chihuahua, Mammoth Resources announced drill results from its Tenoriba project. In Coahuila, Discovery Metals reported exploration results from its Puerto Rico project. In Sinaloa, Kootenay presented exploration results from its Copalito project. In Durango, Southern Silver announced an expansion of the exploration program at its Cerro Las Minitas project. In Zacatecas, Advance Gold reported drill results from its Tabasquena project.  In the Estado de México, Impact discovered new zones at its San Ramon mine.  ON MINING, Several companies reported Q2, 2018 results on its Mexican operations. In Sonora, Mexus provided an update on its 370-8 Brothers property in Sonora. In Chihuahua, Sierra Metals announced Q2 results from its Bolivar and Cusi mines while GoGold reported results from its Parral property. In Sinaloa, Americas Silver presented Q2 results from its Cosala operation. In Durango, Avino reported Q2 results from its Avino mine. In Oaxaca, Fortuna Silver announced Q2 2018 results from its San Jose mine. First Majestic presented Q2 2018 results from its Mexican operations in Sonora, Sinaloa, Chihuahua, Durango, Zacatecas, Jalisco and Estado de Mexico. In Puebla, Almaden announced an increase of the average mill feed grades for its Ixtaca property.  ON FINANCING, Bacanora Minerals dropped a $100M placing for its Sonora Lithium project in Sonora. Candente announced the approval to extend the purchase of 5M of share warrants. ON RESOURCES AND DEVELOPMENT, Aranzazu filed a NI 43-101 FS for the restart of operations at its Aranzazu mine in Zacatecas and updated the resource estimate. Starcore filed updated 43-101 technical report on its San Martin mine. Capstone filed a NI 43-101 technical report for its Cozamin mine in Zacatecas. Gold Resource announced an expansion of its Arista Mine in Oaxaca. ON DEALS AND CORPORATE ISSUES, Evrim announced results of its annual and special general meeting of shareholders.  Silver Spruce executed an offtake agreement for potential future production from its Pino de Plata project in Chihuahua.

ON MEXICO ISSUES

  • No relevant news.

 ON EXPLORATION

  • One World Lithium Inc., presented results from a geophysical survey conducted on its Salar del Diablo project in Baja California Norte. Three very large and highly conductive zones were identified by a Volterra TEM in loop survey. Zone 1 is > 100m thick and covers six square km. Zone 2 surrounds Zone 1 and is < 100m thick and covers 24 square km. Zone 3 is estimated to be approximately 200m thick and covers > 30 square km.
  • Colibri Resources Corporation, reported RC drilling results from its Pilar project in Sonora. Significant results are 61m of 0.75 g/t Au, including 1.5m of 17.3 g/t Au; 6m of 0.68 g/t Au; 3m of 5.40 g/t Au; and 34.5m of 0.32 g/t Au. The drill results extend the Main Zone´s mineralized envelope to the northwest and southeast by upwards of a total of 145m. It represents an increase of 52% in the length of the Main Zone. Potential is open in both directions of the mineralized zone.
  • Minaurum Gold Inc., discovered the extension of the Promontorio-Quintera and Nueva Europa veins at its Alamos Silver project in Sonora. The Promontorio-Quintera vein was mapped and extends for 1km and is cut-off and down-dropped by a northwest trending fault while the Nueva Europa vein was mapped for over 600m. The extensions have the potential to host virgin mineralization at depth. Surface sampling on Promontorio South vein returned 1.1m of 181 g/t Ag and 1.06% Cu, while at Nueva Europa South vein, a 0.8m long chip rock sample returned 52 g/t Ag and 0.54% Cu, and a dump sample returned 91 g/t Ag and 1% Cu.
  • San Marco Resources Inc., identified many new significant Cu-Ag occurrences at its Chunibas property in Sonora; conducted a portable X-ray fluorescence rock analysis on an area of 300m by 1,400m, indicating anomalous to significant copper values, and received assays from ninety six rock chip samples ranging from 0.1% to 1.34% Cu. The company also carried out a saw-cut continuous channel sampling returning 30m of 0.16% Cu and 3 g/t Ag, and 22m of 0.17% Cu and 2 g/t Ag. Now, the mineralized NW-SE corridor is 1.7Km long by 300m wide, and remains open along strike and down dip. San Marco has begun preparations to perform a drill program at its Chunibas property.
  • Millrock Resources Inc., provided and exploration update on their Mexican properties in Sonora and San Luis Potosi. In Sonora, at La Navidad project, a 2,900m drilling program has been recently completed to test the El Cobre and the Crossover targets. Complete results are anticipated in early August. At El Picacho project (Orogenic gold), drill targets are emerging from the exploration work conducted in the first half of 2018. The company has authorized a drill program to begin later in the summer. At Batamote, good geological signs of a porphyry copper deposit have been identified and a major company is currently evaluating the property. At Los Cuarenta project (low-sulphidation epithermal Au-Ag), Millrock has acquired an option to purchase a key internal claim called Santa Rosalia. Drilling targets have been developed and drilling permit is in place. In San Luis Potosi, the Guadalcazar project hosts a high-grade Ag-Pb-Zn skarn with good drill intersections and historic mine workings, with potential to expand the known deposit. Millrock has received an offer to form an option agreement.
  • Azure Minerals Limited., provided an exploration update on its Sara Alicia and El Alacran properties in Sonora. At the Sara Alicia project, the stage 2 drilling campaign confirmed near-surface, high-grade Au-Co mineralization with maximum grade returning 53.8 g/t Au over 0.90m and 2.82% Co over 0.80m. The best Au interception was 19.6m of 8.6 g/t Au, including 15.3m of 10.6 g/t Au, while the best Co interception was 3.65m of 1.19% Co, including 1.5m of 2.66% Co. At the El Alacran project, the drilling campaign indicated the southern expansion of Loma Bonita epithermal Au-Ag system based on the presence of silicified zones covered by fresh-rock and high-resistivity geophysical anomalies extending to depth. At Cerro Colorado the company geologists identified the presence of porphyry-type alteration and veining with trace copper and molybdenum mineralization, warranting follow-up work. Teck will continue exploring the property with drilling planned to restart in Q3 2018.
  • Mammoth Resources Inc., announced drill results from its Tenoriba project in Chihuahua. Results are from the Masuparia area, in the central portion of the 6 km long trend of gold mineralization on the property. Significant results are 3m of 0.19 g/t Au and 10 g/t Ag in hole TEN 17-09 and multiple intersections in hole TEN 17-10 such as 4.5m of 0.42 g/t Au and 8 g/t Ag; 4.5m of 0.45 g/t Au and 3 g/t Ag, 22.5m of 0.35 g/t Au and 4 g/t Ag, 3m of 1.31 g/t Au and 50 g/t Ag, 3m of 0.65 g/t Au and 5 g/t Ag, and 24m of 0.31 g/t Au and 4 g/t Ag.
  • Discovery Metals Inc., reported underground channel sample results from the San Jose mine within its Puerto Rico project in Coahuila. Assay results represent 140m of workings and were collected at 3-5m intervals along both sides of the entire length of the developed workings. Mineralization is related to mantos, chimneys and faults. Mantos range from 0.5m to 1.5m in width (restricted by dimensions of workings) and are open in all directions laterally along strike and dip. Fourteen samples from mantos returned an average of 229 g/t Ag, 9.3% Pb, 17.6% Zn, and 0.3% Cu. Chimney widths range from 1m to 6m, with the main part of the chimney having a width of 5-6m, while the mineralized faults widths range from 0.4m to 1.4m, and are open along strike and at depth. Thirty three samples from chimneys and faults returned an average grade of 50 g/t Ag, 3.5% Pb, 4% Zn, and 0.8% Cu. The company is currently carrying out a detail structural study on the entire property to identify controls on mineralization. Additionally, it is planning to conduct a magnetic survey in preparation for drilling later in 2H 2018.
  • Kootenay Silver Inc., presented sampling results from its Copalito project in Sinaloa. Copalito is a low-sulphidation epithermal vein system. At least 4 main veins and numerous smaller veins have been identified, with individual veins found to be up to 15m wide and at least 2km long along strike. Eleven samples (5 chips and 6 grabs) on Cobriza vein returned grades from 47 to 2.5 kg/t Ag and 0.03 to 2.7 g/t Au, while twenty two samples on El Pilar vein returned grades from 2 to 166 g/t Ag and 0.04 to 1.05 g/t Au. Mapping and sampling on the La Chiva and Cinco Señores veins in the southern area of Copalito is ongoing. All the results will be used to determine grade distribution along the veins for drill targeting.
  • Sothern Silver Exploration Corp., announced an expansion of the exploration program at its Cerro Las Minitas project in Durango, with the mobilization of a second drill rig. The objective is to drill 2,000m of core to test multiple Ag-Au quartz veins within the recently acquired CLM West claim. Drill targets were identified by mapping and ground geophysics, and a sampling program of over 6000 float and rock chip samples throughout a >10km by 5km N-S corridor underlying the 207 square km CLM West claim package.
  • Advance Gold Corp., reported phase 1 drill results from its Tabasquena project in Zacatecas. Significant results are 10.5m of Au-Ag mineralization including 1.7m of 9.46 g/t Au and 37 g/t Ag, 0.55m of 12.65 g/t Au and 28 g/t Ag, and 0.55m of 6.31 g/t Au and 42 g/t Ag. The company is planning a second phase drill program to test the recently discovered veins and explore for new ones, as well as to follow-up on the high-grade gold intersections.
  • Impact Silver Corp., discovered new zones at its San Ramon mine through an underground drill program. Significant results with intersections 100m south of the current levels of the San Ramon mine are 2.04m of 0.23 g/t Au, 661 g/t Ag, 1.28% Pb, and 3.28% Zn; 4.97m of 0.12 g/t Au, 354 g/t Ag, 0.57% Pb and 1.48% Zn; and 1.25m of 0.1 g/t Au, 259 g/t Ag, 0.34% Pb and 1.14% Zn. The zone remains open for further extension vertically above for nearly 300m and to the south.

ON MINING

  • Mexus Gold US, provided and update on its 370-8 Brothers property in Sonora. VAT leaching test of oxidized sulphide ore reported that 50% of the sulphides remain as encapsulated Au and Ag bearing mineralization, with As, Pb and Zn, making difficult its extraction by simple gravity and/or cyanide leaching, unless they are pretreated via roasting to eliminate the sulphur. “About 80 tons of this oxidized ore was crushed to < 3 inches and put in a steel tank and leached for a period of 25 days.  Eight head assay samples were taken averaging 1g/t Au and 50 g/t Ag with one sample showing 30 g/t Au and another sample with 800 g/t Ag.  Solution was assayed daily for a week showing recoveries of 1.25% in gold and 13% in silver with a slow increase after a week and large cyanide consumption.  The solution was assayed after 3 weeks and turned out to have minimum increase up to 26% in silver and gold remaining the same”.
  • Sierra Metals Inc., reported Q2 results from its Bolivar and Cusi mines in Chihuahua. At Bolivar mine, a total of 272K tonnes were processed at grades of 0.15 g/t Au, 17 g/t Ag, and 0.97% Cu to produce 911 OZ Au, 110K Oz Ag, and 4.7M Lb Cu, with metallurgical recoveries of 71.81%, 75.53% and 81.33% respectively. At Cusi mine, a total of 46.4K tonnes were processed at grades of 0.16 g/t Au, 156 g/t Ag, 0.4% Pb, and 0.3% Zn, to produce 96 Oz Au, 190K Oz Ag, and 287K Lb Pb, with metallurgical recoveries of 39.8% Au, 81.66% Ag, 77.22% Pb and 0% Zn.
  • GoGold Resources Inc., presented Q2 2018 results from its Parral operation in Chihuahua. GoGold processed 447K tonnes of tailings material to produce 164K Oz Ag and 1,630 Oz Au.
  • Americas Silver Corporation, announced results from its Cosala operation in Sinaloa. On Q2, 2018, the company milled 139K tonnes of 42 g/t Ag to produce 94K Oz Ag, 2.9M Lb Pb, and 8.7M Lb Zn
  • Avino Silver & Gold Mines Ltd., presented Q2 2018 results from its Avino mine in Durango. The company processed 184.7K tonnes of 0.42 g/t Au, 70 g/t Ag, and 0.45% Cu to produce 1,734 Oz Au, 323 Oz Ag, and 1.48M Lb Cu, with metallurgical recoveries of 75%, 81% and 90% respectively.
  • Fortuna Silver Mines Inc., reported Q2 2018 results from its San Jose mine in Oaxaca. Fortuna milled 134K tonnes of 1. 86 g/t Au and 268 g/t Ag to produce 14.4K Oz Au and 2M Oz Ag with metallurgical recoveries of 91.54% and 91.67% respectively.
  • First Majestic Silver Corp., announced Q2, 2018 production results from its Mexican operations. At Santa Elena mine in Sonora, a total of 228K tonnes of 2.3 g/t Au and 120 g/t Ag were milled to produce 11K Oz Au and 535K Oz Ag. At San Dimas mine in Sinaloa, a total of 85.7K tonnes of 4.3 g/t Au and 307 g/t Ag were processed to produce 11.3K Oz Au and 809K Oz Ag. At La Encantada mine in Chihuahua, a total of 238K tonnes of 83 g/t Ag were processed to produce 23 Oz Au and 325K Oz Ag. At La Parrilla mine in Durango, a total of 123.6K tonnes of 131 g/t Ag, 1.4% Pb and 1.5% Zn were milled to produce 235 Oz Au and 361K Oz Ag, 1.6M Lb Pb, and 1.4M Lb Zn. At Del Toro mine in Zacatecas, a total of 65.8K tonnes of 117 g/t Ag and 2.7% Pb were processed to produce 73 Oz Au, 167.6K Oz Ag, and 2.3M Lb Pb. At San Martin mine in Jalisco, a total of 74.4K tonnes of 0.6 g/t Au and 203 g/t Ag were milled to produce 1,331 Oz Au and 138.4K Oz Ag. At La Guitarra mine in Estado de Mexico, a total of 35.7K tonnes of 1.5 g/t Au and 154 g/t Ag were milled to produce 1400 Oz Au and 138.4K Oz Ag. Unfortunately, First Majestic announced the temporary suspension of work at its la Guitarra mine scheduled to start on August 1st. It is until economic conditions improve or the property is sold.
  • Almaden Minerals Ltd., announced an increase of the average feed mill grades of 39% for Au and 47% for Ag from bulk ore sort test for its Ixtaca project in Puebla. Applying the ore sort process, the metallurgical recovery is 88% for Au and 93% for Ag and reduces the environmental footprint over the life of mine by reducing process tailings, water usage and energy requirements and CO2 “The detailed impact of the ore sorting results on the Ixtaca project will be evaluated as part of the ongoing Feasibility Study, which is anticipated to be completed in 2018”.

ON FINANCING

  • Bacanora Lithium plc., dropped a $100M placing for its Sonora Lithium project in Sonora, citing “difficult market conditions”.
  • Candente Gold Corp., announced the approval to extend the exercise period of 5M of share purchase warrants from August 12, 2018 to August 12, 2020.

 ON RESOURCES AND DEVELOPMENT

  • Aura Minerals Inc., filed a NI 43-101 FS for the restart of operations at its Aranzazu mine in Zacatecas. The company also updated the mineral resource and reserve estimates. Measured + indicated resources are 12.5M tonnes of 1.08 g/t Au, 20 g/t Ag, and 1.61% Cu for a total of 435K Oz Au, 8M Oz Ag and 444.4M Lb Cu. Proven and probable reserves are 4.6M tonnes of 1.17 g/t Au, 19 g/t Ag, and 1.72% Cu, for a total of 174K Oz Au, 2.8M Oz Ag, and 176.4M Lb Cu. (Mineral reserves are inclusive of mineral resources). The orebody consists of seven mineralized domains and has a strike length of 1.5km, width up to 250m and 600m depth. The mineral resource estimate is based on 1,336 holes for a total of 219,586m.
  • Starcore International Mines Ltd., filed an updated 43-101 technical report for its San Martin mine in Queretaro in which reported mineral resources and reserves as of April 30, 2018. Total proven + probable reserves are 1.65M tonnes of 2.11 g/t Au and 33 g/t Ag for a total of 154.4K Oz Au Eq. Total indicated + inferred resources are 1.5M tonnes of 1.94 g/t Au and 25 g/t Ag for a total of 113K Oz Au Eq. The total mineral reserves and resources are 3.1M tonnes of 2.03 g/t Au and 29 g/t Ag for a total of 267.3K Oz Au Eq.
  • Capstone Mining Corp., filed a NI 43-101 technical report for its Cozamin mine in Zacatecas. In this TR, Capstone reported a mineral resource estimate which was announced on the past June 05, 2018.
  • Gold Resource Corporation, announced significant drill interceptions of 23.39m @ 2 g/t Au, 200 g/t Ag, 0.58% Cu, 3.1% Pb, and 9% Zn, including 1.66m of 8.92g/t Au, 1.3Kg/t Ag, 0.93% Cu, 6.3% Pb and 8.8%Zn, and 9.94m @ 2.16 g/t Au, 95 g/t Ag, 0.82% Cu, 4.1% Pb and 12% Zn, including 3.1m @ 3.99 g/t Au, 177 g/t Ag, 1.01% Cu, 7% Pb, and 14.5% Zn to expands the Switchback´s strike length by approximately 100m, and discovered a new structure in the Arista vein system intercepting 2.08m @ 1.98 g/t Au, 1.6Kg Ag/ton, 0.25% Cu, 1% Pb, and 2.2% Zn, including 0.9m of 3.31 g/t Au, 2.7Kg/t Ag, 0.45% Cu, 2% Pb, and 4.1% Zn.

ON DEALS AND CORPORATE ISSUES

  • Evrim Resources Corp., announced results of its annual and special general meeting of shareholders. (Cuale project, Jalisco).
  • Silver Spruce Resources Inc., executed an offtake agreement with IBB International Holdings Limited for potential future production from its Pino de Plata project in Chihuahua. “The Company has agreed to deliver any and all future production from the Pino de Plata project for a period of at least ten years, commencing with the first delivery. The ten-year term of the agreement will automatically extend by successive one-year terms, unless either party expresses written desire o terminate the agreement. The purchase price of the delivered production will be at a three percent (3%) discount to the London Metals Exchange metals pricing on the dates of delivery to the buyer”.

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

On the picture above, a diatreme breccia in a prospect in Durango, Mexico. Photo by Miguel A Heredia.

 

 

 

AMERICAS SILVER CORPORATION PROVIDES SECOND QUARTER PRODUCTION AND COST UPDATE  

americas silver reports Q2 2018 result

TORONTO, ONTARIO—July 19, 2018—Americas Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas Silver” or the “Company”) today announced production and operating cost results for the second quarter of 2018 on a consolidated basis and individually for its Cosalá Operations and Galena Complex. All figures are in U.S. dollars unless otherwise indicated.

Highlights on the Second Week of June, 2018. Mining and Exploration News in Mexico

116 - copia

By Jorge Cirett

During the 24th week of the year (June 11th to June 17th, 2018), at least 16 press releases were announced by companies working in Mexico. Four companies updated on exploration advances, and one the commencement of mining activities. Four companies announced financing rounds, loans and bonds for an aggregate of over $55 M. One company disclosed news on drilling near resources and development while one other released metallurgical test results. ON MEXICO ISSUES, mining companies are awaiting a Supreme Court resolution on a Zacatecas State tax imposition on mining. ON EXPLORATION, In Sonora, Aloro updated on exploration work at Los Venados; Colibri finished drilling at El Pilar, and released results from a soil survey; Colibri disclosed drilling results by Agnico at its Pitaya project. In Veracruz, Azucar Minerals started a drilling campaign on the Norte zone and the north part of the Villa Rica zone at its El Cobre porject. ON MINING, Mexus started pilot mining at its 8 Hermanos property in Sonora. ON FINANCING, Alamaden raised $9.4 M; Starcore launched a private placement for CDN$3 M; Telson paid US$8 M and obtained a loan for US$8.5 M; Endeavour Silver is to sell common shares for an aggregate of up to $35.7 M. ON RESOURCES AND DEVELOPMENT, SilverCrest Metals released high-grade results from drilling of the Granaditas vein on Las Chispas project, in Sonora. Azure Minerals released metallurgical test results from Oposura, also in Sonora. ON DEALS AND CORPORATE ISSUES, Starcore decided not to go ahead with the acquisition of the Santa Fe property in Sinaloa. Defiance Silver entered into an agreement to acquire Mag Silver’s properties in the Zacatecas District.

ON MEXICO ISSUES

  • Fresnillo PLC and Mag Silver Corp. are awaiting a Supreme Court (Suprema Corte de la Nación) resolution on a mining duty attached to environmental impact, set by the state of Zacatecas. The federal government challenged the State’s right to impose such a duty back in 2017.

ON EXPLORATION

  • Aloro Mining Corp. updated on its exploration of the Los Venados project in Sonora. Mapping and sampling have defined a rhyodacitic volcanic dome associated with high sulfidation style alteration with Au-Bi-Mo anomalies. Several felsic dome/silica breccia complexes have been located, with the highest priority target on the dome at the southeast part of the property, where gold in soil anomalies and IP anomalies coincide. A new environmental report is being submitted to the authorities, seeking permit for 12 reverse circulation holes.
  • Colibri Resource Corp. completed the final 900 m of its 3,000 m phase 1 drilling program on its Pilar project in Sonora. Samples have been taken to the lab and results are pending. A 56 sample soil survey returned 10 samples greater than 0.1 g/t Au, and 3 samples over 1 g/t Au.
  • Colibri Resource Corp. released results from drilling on its Pitaya project in Sonora, by joint venture partner Agnico Eagle. Highlighted results from the last four holes comprise 9 m @ 0.26 g/t Au; 26 m @ 0.19 g/t Au; 34 m @ 0.22 g/t Au. During 2016-2017, Agnico drilled 7,641 m in 27 drill holes.
  • Azucar Minerals Ltd. has begun drilling the North zone and the north end of the Villa Rica zone of its El Cobre project in Veracruz. Preparations for this drilling campaign include surface and soil geologic and alteration focused mapping and sampling. “The current drilling at Villa Rica is focused on the Naranjo zone, a new area of exposed porphyry alteration and mineralisation located approximately 500 metres north of the previous Villa Rica drilling and about 1.2 kilometres south of the Norte Zone.”

ON MINING

  • Mexus Gold US begun mining at the 8 Brothers/370 project in Sonora. “The company has mined 1000 tons of material containing an average of 9 grams Au and 50 grams Ag per ton. This material is currently being run through a crushing system and placed into an aerated VAT holding tank”. Its portable Merril Crowe system has been installed and tested.

ON FINANCING

  • Almaden Minerals Ltd. closed its previously announced non-brokered private placement, raising gross proceeds of $9.44 M. Finders fees of $384.9 K cash and finder warrants of 192,450 shares at $1.35 until June 7, 2020 were paid to arms-length, licensed securities dealers on a portion of the offering (Ixtaca, Puebla).
  • Starcore International Mines Ltd. launched a private placement of secured bonds for CDN$3 M. “The Bonds will bear interest at 8% per annum, payable on maturity, and will mature 24 months from the date of closing” (San Martin mine, Queretaro).
  • Telson Mining Corp. announced the payment of US$8 M to Nyrstar Mining Ltd. as partial payment, and entered into a loan agreement with Nyrstar Canada (Holdings) Ltd. that converts the final US$8.5 M due on the Campo Morado acquisition agreement into a loan that extends the payment terms for eight months. The principal due is US$8.5 M that are to be paid starting July 13, 2018 with a monthly minimum of US$1 M plus interest, plus 70% of the free cash flow generated by Telson and any monthly excess cash balance above US$500 K.
  • Endeavour Silver Corp. is to sell from time to time and its discretion common shares for an aggregate of up to US$35.7 M, through “at the market” distributions (Terronera, Jalisco).

ON RESOURCES AND DEVELOPMENT

  •  SilverCrest Metals Inc. announced new drill results for the Granaditas vein at its Las Chispas property in Sonora. Highlighted true width (TW) intervals comprise 1.5 m @ 3.63 g/t Au, 190 g/t Ag; 1.8 m @ 12.14 g/t Au, 1,440 g/t Ag (including 0.40 m @ 47.50 g/t Au, 5,620 g/t Au); 1.3 m @ 3.24 g/t Au, 339 g/t Ag; 1.2 m @ 1.23 g/t Au, 114 g/t Ag. The vein has a high-grade footprint currently at 150 m long by 100 m high and 1.5 m average true width, grading 5.69 g/t Au, 596 g/t Ag.
  • Azure Minerals Ltd. released metallurgical test work results on its Oposura project in Sonora. Azure highlights a 34% overall increase in the recovery of Pb and Zn using a dense media separation technique.

ON DEALS AND CORPORATE ISSUES

  • Starcore International Mines Ltd. completed its due diligence and review of the Santa Fe project in Sinaloa, under a previously signed LOI (letter of intent). Starcore will not be proceeding with the acquisition.
  • Defiance Silver Corp. entered into an agreement to acquire Mag Silver’s Zacatecas silver district holdings. Mag Silver is to receive 5 M common shares of Defiance, approximately a 5% investment position. Defiance is to receive a 100% interest in the Lagartos project, along with a regional database. The company is to control 1,506 ha, including 65% of the Veta Grande vein and the San Acacio silver deposit.

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, intense kaolinitization of felsic volcanic rocks on a shallow epithermal system in Guanajuato. Picture by Jorge Cirett.

 

Pan American Silver Provides Update on the Dolores Mine

Pan American Silver Provides Update on the Dolores Mine

VANCOUVERJune 4, 2018 /CNW/ – Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) (the “Company”) today announces that the security situation on the access roads to the Dolores mine has improved following increased patrol and enforcement by the Mexican authorities. As a result, road transport of diesel fuel, cement and other supplies to the mine has now resumed. The Company will increase the use of its private, secured airstrip to transport people to and from the mine site until the situation normalizes.

Highlights on the Fourth Week of April, 2018. Mining and Exploration News in Mexico

On the picture above, a banded quartz-barite vein in a prospect in Chihuahua state, Mexico. Photo by Miguel A Heredia.

By Miguel A Heredia

During the 17th week of the year (April 23th to April 29th, 2018), at least 19 press releases were announced by companies working in Mexico, with seven informing on exploration results, six reporting Q1 2018 results, two announcing financing, three communicating deals and corporate issues, and  two reporting on resources & development. ON MEXICO ISSUES, Argonaut has taken legal measures to re-activate its explosive permit at its la Colorada mine in Sonora. ON EXPLORATION, In Sonora, Aztec Minerals & Kootenay presented drilling results from its Cervantes property and Azure reported recoveries and concentrate grades at its Oposura project. In Sinaloa, Goldplay received drill permit for its El Habal project. In Chihuahua, Mammoth announced drilling results from its Tenoriba project.  In Zacatecas, Goldcorp presented drilling results from the Santa Rosa target near its Peñasquito Mine, and signed a LOI with Frisco to explore key regional targets at the Mazapil Valley. Prospero provided its plan work for the remainder of 2018 for its exploration projects in Mexico. ON MINING, Agnico Eagle reported Q1 results on its La India mine in Sonora, and Pinos Altos y Mascota mines in Chihuahua. Goldcorp reported Q1 results from its Peñasquito mine in Zacatecas. Capstone announced Q1 results from its Cozamine mine in Zacatecas. New Gold presented Q1 results from its San Pedro mine in San Luis Potosi. ON FINANCING, Oroco closed a private placement for $900K. First Mexican entered into an arrangement to secure a credit facility loan for up to $10M. ON RESOURCES AND DEVELOPMENT, In Sonora, SilverCrest filed a mineral resource estimate on its Las Chispas project. In Chihuahua, Agnico reported development progress and expansion drilling results on their satellite deposits within its Pinos Altos and Creston mines, as well as at its La India mine in Sonora.  ON DEALS AND CORPORATE ISSUES, Bacanora Lithium announced director changes and the grant of options (Sonora Lithium project, Sonora). Capstone reported voting results from its annual general meeting (Cozamine mine, Zacatecas). Westminster announced VP appointment (El Cobre, Sonora).

ON MEXICO ISSUES

  • Argonaut Gold Inc., reported that the court has rescheduled the hearing pertaining the explosives permit from its la Colorada mine in Sonora to May 16, 2018. The company estimates it has sufficient ore to continue operations until the end of July, however, is taking legal measures to re-activate its explosive permit and re-commence blasting activities as soon as possible.

ON EXPLORATION

  • Aztec Minerals Corp. & Kootenay Silver Inc., reported drilling results from the California target at the center of a gold geochemical anomaly within its Cervantes property. The most significant results are 160m of 0.77 g/t Au, 0.13% Cu, and 3.4 g/t Ag, including 80m of 1.0 g/t Au, 0.11% Cu and 4 g/t Ag.
  • Azure Minerals Limited, reported flotation test results showing significant improvements of recoveries and concentrate grades at its Oposura project. Zinc and lead recoveries of 85.6% and 84% achieve concentrate grades of 57.2% and 61.4% respectively. Silver recovery in the lead concentrate is 67.1% at a concentrate grade of 323.8 g/t Ag. The positive metallurgy has reduced significantly the processing and marketing risk and has enhanced the project potential.
  • Goldplay Exploration Ltd., received a drill permit to carry out a 4,000m drilling program at its El Habal project in Rosario, Sinaloa. The goal of the drilling program is to test low sulphidation epithermal mineralization targets generated by mapping and sampling of shallow underground workings along with a CSMAT geophysical survey.
  • Mammoth Resources Corp., announced drilling results from the Los Carneritos target within its Tenoriba project in Chihuahua. Significant results are 126.8m of 0.47 g/t Au and 7.2 g/t Ag, including 58.2m of 0.73 g/t Au and 4 g/t Ag or 25m of 1.1 g/t Au and 2.7 g/t Ag; and 14.9m of 0.58 g/t Au and 3 g/t Ag. “These diamond drill holes at Los Carneritos extend the strike length of gold mineralization on the property a total of almost four km within a High Sulphidation system with mineralization open at least one km both to the east and west of this four km trend where gold has been sampled on surface”.
  • Goldcorp Inc., presented initial drilling results from the Santa Rosa target near its Peñasquito Mine in Zacatecas. Significant intersections are 164m of 1.06 g/t Au, in disseminated, intrusive-hosted mineralization within dacite porphyry dykes, along with a 22m of 3.46 g/t Au interception of skarn mineralization. “The Santa Rosa system is interpreted as a quartz porphyry complex intruding a contemporaneous volcanic pile underlain by Lower Jurassic to Upper Cretaceous carbonate stratigraphy”. Goldcorp also signed a LOI with Minera Frisco to explore, under a JV agreement, key regional targets in the Mazapil Valley near Peñasquito Mine.
  • Prospero Silver Corp. & Fortuna Silver Inc., provided a plan work for the remainder of 2018 on their different JV exploration projects in Mexico. In Chihuahua, they planned to drill the Bermudez and Trias projects with a program of 1,200m each. In Durango, a 3,450m drilling program will be conducted at their Buenavista project. In Hidalgo, they plan to drill a fourth hole by the end of the year at their Pachuca SE project. All the projects are low sulphidation epithermal style targets, with Buenavista in Durango displaying some characteristics of intermediate sulphidation affinity, like elevated base metals levels at depth in the system.

ON MINING

  • Agnico Eagle Mines Limited., reported results on their Mexican operations. The company processed 1.7M tonnes from its La India mine in Sonora with a grade of 0.74 g/t Au to produce 23K Oz Au at cash cost of $700 USD per Oz Au produced. In Chihuahua, Agnico processed 519 K tonnes and 475K tonnes from their Pinos Altos and Creston mines respectively, with grades of 2.62 g/t Au and 0.67 g/t Au to produce 41.8K Oz Au and 12K Oz Au correspondingly. Total cash cost per Oz Au produced are $758 USD and $865 USD in that order. At Pinos Altos, production is transitioning from open pit to underground mining with a higher cost associated.
  • Goldcorp Inc., reported results from its Peñasquito mine in Zacatecas. On Q1 2018, Goldcorp milled 8.96M tonnes with grades of 0.54 g/t Au, 23.5 g/t Ag, 0.19%Pb and 0.64% Zn to produce 98K Oz Au, 5.2M Oz Ag, 27M Lb Pb and 88.7M Lb Zn, at cash cost of $708 USD per Oz Au produced.
  • Capstone Mining Corp., announced results from its Cozamine mine in Zacatecas. On Q1 2018, Capstone produced 4,285 tonnes of Cu at cash cost of $0.71 USD per Lb Cu produced.
  • New Gold Inc., presented results from its San Pedro mine in San Luis Potosi. On Q1, New Gold produced 4.5K Oz Au and 0.1 M Oz Ag from residual leaching. Cerro San Pedro finished active mining in Q2 2016.

ON FINANCING

  • Oroco Resource Corp., closed a non-brokered private placement for $900K. Net proceeds will be used for exploration expenditures (Santo Tomas, Sinaloa).
  • First Mexican Gold Corp., entered into an arrangement to secure a credit facility loan for up to $10M. The funds will be used to bring into production the Karen Zone within its Guadalupe project in Sonora.

ON RESOURCES AND DEVELOPMENT

  • SilverCrest Metals Inc., filed the mineral resource estimate on its Las Chispas project in Sonora. The Inferred resource estimate encompasses 3.44M tonnes of 3.63 g/t Au and 296 g/t Ag for a total of 401.6K Oz Au and 32.7M Oz Ag contained.
  • Agnico Eagle Mines Limited, announced that the Sinter and Cubiro satellite deposits within its Pinos Altos mine are currently being developed to be mined from underground and a small open pit the first, and from underground the second. Both are expected to commence production in Q4 2018 and Q1 2019 respectively. It also conducted 3,450m of infill drilling on Q1 2018 at its Reyna de Plata deposit to convert inferred resources to indicated mineral resources. Significant results are 22.9m of 2 g/t Au and 53 g/t Ag; 17.7m of 0.9 g/t Au and 12 g/t Ag; and one hole with 9.6m of 1.7 g/t Au and 27 g/t Ag, and 3.6m of 4.2 g/t Au and 144 h/t Ag. At Reyna de Plata, mineralization style is low sulphidation epithermal veins hosting inferred mineral resources of 110 K Oz Au and 3.9M Oz Ag in 5.8M tonnes of 0.59 g/t Au and 21 g/t Ag at open pit depth, as well as 93K Oz Au and 1.4M Oz Ag from 1.2M tonnes of 2.35 g/t Au and 35 g/t Ag at underground depth. At the Madrono Zone, Agnico drilled 5,073m of infill and exploration drilling in 24 holes, within its Creston mine. Significant results are 16.2m of 2.2 g/t Au and 47 g/t Ag, 6.7m of 3.1 g/t Au and 38 g/t Ag, 7.5m of 2.2 g/t Au and 28 g/t Ag, and 7.8m of 1.4 g/t Au and 27 g/t Ag. Madrono hosts underground indicated mineral resources of 56K Oz Au and 863K Oz Ag hosted in 858K tonnes of 2.03 g/t Au and 31.3 g/t Ag, and inferred mineral resources of 144K Oz Au and 2.6M Oz Ag in 1.94M tonnes of 2.31 g/t Au and 41 g/t Ag. In Sonora, Agnico is conducting drilling programs focused on extending near pit mineralization at its La India mine as well as on other near-mine targets. On Q1 2018, the company drilled 6,833 m in 49 holes distributed at El Realito and Chipriona targets. Significant results are 58.5m of 0.6 g/t Au and 21 g/t Ag; 14.1m of 2.4 g/t Au and 3 g/t Ag, including 3.2m of 6.8 g/t Au and 5 g/t Ag; 18m of 0.6 g/t Au and 216 g/t Ag; and 56.3m of 0.9 g/t Au and 34 g/t Ag, including 28.9m of 1.4 g/t Au and 40 g/t Ag.

ON DEALS AND CORPORATE ISSUES

  • Bacanora Lithium plc., announced director changes and grant options (Sonora Lithium project, Sonora).
  • Capstone Mining Corp., reported voting results from its 2018 annual general meeting (Cozamine mine, Zacatecas).
  • Westminster Resources Ltd., announced VP appointment (El Cobre, Sonora).

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