General Meeting

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

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Advanced argillic alteration

By Miguel A Heredia

During the 47th week of the year (November 19th to November 25th, 2018), at least 14 press releases were announced by companies working in Mexico, with five informing on exploration results, three reporting on advances on their properties, three disclosing deals and corporate issues, two announcing financing issues, and one related to a law proposal to force miners to seek permission from the communities. ON MEXICO ISSUES, a law proposal is being presented by a MORENA senator to force miners to seek permission from the communities around their mining projects. ON EXPLORATION, In Sonora, Aloro Mining mobilized a RC drill rig to its Los Venados project, Mexus Gold commenced a drilling program on its Santa Elena project, and Millrock announced a new drilling program at its La Navidad project. Millrock also reported results from its El Picacho project.  In Coahuila, Silver Bull completed a VTEM and Magnetic geophysical survey on its Sierra Mojada project. In Veracruz, Azucar Minerals reported drilling results from its El Cobre project.  ON MINING, no relevant news. ON FINANCING, Goldplay announced a private placement intended to raise up to CAD$ 1.5M. Mexican Gold closed the first tranche of a non-brokered private placement for $2.06M. ON RESOURCES AND DEVELOPMENT, Minera Alamos received a positive notification from SEMARNAT for the development of its la Fortuna project in Durango.  SilverCrest filed a technical report and updated mineral resource estimate for its Las Chispas project in Sonora. Torex reported in-fill and step-out drilling results from its El Limón-Guajes mine complex in Guerrero.  ON DEALS AND CORPORATE ISSUES, Consolidated Zinc held its 2018 annual general meeting (Plomosas mine, Chihuahua), Avino announced management changes (Avino mine, Durango), and Kootenay entered in an option agreement to acquire a 100% of interest of the Columba property in Chihuahua.

ON MEXICO ISSUES

  • Communities’ consultation. A law proposal is being presented by a MORENA senator to force miners to seek permission from the communities around their mining projects. Proposed initiatives include empowering the Ministry of Economy to declare certain zones as not viable for mining, and revoke permits and existing concessions that had a negative social impact. They also contemplate charging Mexican agencies with overseeing the social and environmental impact of mining activities. The news caused the Grupo Mexico and Peñoles stocks to tumble 5.4% and 4.7% respectively on the Mexican Stock Exchange.

ON EXPLORATION

  • Aloro Mining Corp., mobilized a RC drill rig to its Los Venados project in Sonora while a bulldozer continues the construction of drill pads and access roads to other drill sites. This is the first time that the southern portion of the property is going to be drill-tested.
  • Mexus Gold US, commenced a drilling program on the Julio II zone within its Santa Elena project in Sonora.
  • Millrock Resources Inc., announced that a new drilling program is underway at its La Navidad project in Sonora, where the company has a JV option with Centerra Gold Inc. Seven holes totaling 1,500m were planned to test the northwest portion of the property, being 4 holes at the El Tigre prospect where Au has been detected by soil sampling in the vicinity of historic mine workings, and 3 holes at the El Chupadero prospect where decalcification and jasperoid replacement suggests the presence of intrusion-related gold mineralization. Millrock also reported that a 2,007.80m drilling program was completed at its El Picacho project in Sonora. Unfortunately, only narrow Au-bearing intersections were encountered. Highlights include 1m of 0.72 g/t Au in Hole P18-004D, 1m of 2 g/t Au in Hole P18-007D, and 0.5m of 5.7 g/t Au in Hole P18-008D.
  • Silver Bull Resources Inc., completed a 5,297line km helicopter-borne VTEM and Magnetic geophysical survey on its Sierra Mojada project in Coahuila. The airborne survey covered 4 main regional prospects including the main deposit at its Sierra Mojada property. It targeted over 50 km of the regional San Marcos Fault, due to this structure is considered to be the main control of the mineralization in the district. This survey is part of a work program conducted under a JV option with its partner South 32 Limited.
  • Azucar Minerals Ltd., announced results from its ongoing drilling program at the El Cobre project in Veracruz. Highlights from drilling at the Villa Rica target are 161.20m of 0.23 g/t Au and 0.15% Cu in Hole EC-18-052, including 18m of 0.51 g/t Au and 0.43% Cu, and another interval of 10m of 0.60 g/t Au and 0.48% Cu, and 116.30m of 0.21 g/t Au and 0.16% Cu in Hole EC-18-054, including 12.40m of 0.85 g/t Au and 0.39% Cu.

ON MINING

  • No relevant news.

ON FINANCING

  • Goldplay Exploration Ltd., announced a private placement intended to raise up to CAD$ 1.5M
  • Mexican Gold Corp., closed the first tranche of a non-brokered private placement for $2.06M. Net proceeds will be used to continue exploration on the Company’s Las Minas project located in the State of Veracruz, Mexico, to make the final property payment, and for general working capital purposes.

 ON RESOURCES AND DEVELOPMENT

  • Minera Alamos Inc., received a positive notification from SEMARNAT regarding the Company´s permit applications (MIA / ETJ) for the development of its la Fortuna project in Durango. It allows Minera Alamos to initiate applications for other permits required in advance of any commercial mine production.
  • SilverCrest Metals Inc., filed a technical report and updated mineral resource estimate for its Las Chispas project in Sonora. There are no material differences in the mineral resources disclosed in the press release dated September 19, 2018.
  • Torex Gold Resources Inc., reported in-fill and step-out drilling results in the Sub-Sill Zone of its El Limón-Guajes mine complex in Guerrero. Highlights from the drilling program include 8.1m of 30.2 g/t Au, 38 g/t Ag, and 4.3% Cu in Hole SST-101, 3.6m of 48.9 g/t Au, 6 g/t Ag, and 0.1% Cu in Hole SST-118, and 4.6m of 34.4 g/t Au, 13 g/t Ag, and 0.9% Cu in Hole SSUG-059. The deposit remains open in several directions.

ON DEALS AND CORPORATE ISSUES

  • Consolidated Zinc Limited, held its 2018 annual general meeting and advised that the company increased 32% of the mineral resources and filed a bankable FS assessing the viability of its Plomosas mine in Chihuahua.
  • Avino Silver & Gold Mines Ltd., announced the retirement of its CFO and commenced a selection process to find a replacement. (Avino mine, Durango).
  • Kootenay Silver Inc., entered in an option agreement to acquire a 100% ownership of the Columba property in Chihuahua. This property covers a large high-grade silver epithermal system with several veins varying from 0.5 to up to 6.0m in width which have been mapped for over 200m up to 2Km in length. Sampling has returned grades of up to 692 g/t Ag. Kootenay can acquire a 100% of the property by making staged payments over a 4-year period totaling US$ 3.29 M with an initial payment of US$ 15K, first and second years payments totaling US$ 75K and US$ 150K respectively. The Agreement includes a work commitment of US$ 250K by the first anniversary and US$ 750K by the second anniversary of the Agreement. Upon earn-in the vendors retain a 2% NSR of which 1% can be purchased by the Company for US$ 750K.

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, advanced argillic alteration in a skarn-epithermal mineralized system in Durango, Mexico.  Photo by Miguel A Heredia.

 

Galore Announces Results of its Annual General Meeting and the Grant of Stock Options

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Vancouver, BC: Galore Resources Inc. (TSX-V: GRI) (the “Company”) is pleased to report that at the Annual and Special General Meeting of its shareholders held November 8, 2018 (the “ASGM”), the Company experienced a very strong turnout of votes. A total of 43 votes were received, representing 68,454,243 shares or 55.86% of the Company’s issued share capital. All resolutions proposed and voted on at the meeting were approved and duly passed.

Azure Minerals Limited ABN 46 106 346 918 Notice of Annual General Meeting and Explanatory Memorandum

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NOTICE IS GIVEN that an Annual General Meeting of Shareholders of Azure Minerals Limited ABN 46 106 346 918 (Company) will be held at The Celtic Club, 48 Ord Street, West Perth, Western Australia on 30 November 2018 at 10.00am (WST) for the purpose of transacting the business referred to in this Notice of Annual General Meeting.

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

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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.

 

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

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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.

Levon Resources Announces AGM Results

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levon announces AGM results

September 14, 2018 – Vancouver, British Columbia: Levon Resources Ltd. (“Levon” or the “Company”) (TSX: LVN; OTCQX: LVNVF) is pleased to announce that the nominees listed in the management information circular dated August 14, 2018 were elected as directors of the Company at the annual general meeting of shareholders of the Company (the “Meeting”) held on September 14, 2018. At the Meeting, the shareholders also approved setting the number of directors at five and the appointment of the Company’s auditors.

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

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Marble breccia cemented by FeOx

By Miguel A Heredia

During the 31st week of the year (July 30th to August 05th, 2018), at least 20 press releases were announced by companies working in Mexico, with six informing on exploration results, five announcing production results, five communicating deals and corporate issues, two reporting on resources and developments, and two  announcing financing issues.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Chihuahua, Silver Spruce received approval to drill its Pino de Plata project, Radius Gold-Pan American Silver announced a JV agreement to explore and drill the Amalia project, and VVC reported drilling results from its Samalayuca property. In Sinaloa, Goldplay reported drilling results from its El Habal project. In Durango, First Mining signed an agreement to option its Las Margaritas gold project to Gainey.  ON MINING, Several companies reported Q2, 2018 results on its Mexican operations. In Sonora, Alamos Gold announced Q2, 2018 results from their Mulatos and Chanate mines. In Sinaloa, McEwen provided Q2, 2018 results from its El Gallo mine. In Durango, Excellon announced Q2, 2018 results from its La Platosa mine. Great Panther reported Q2, 2018 results from their mining operations in Mexico and Peru. In Guerrero, Telson presented Q2, 2018 results from its Campo Morado mine. ON FINANCING, VVC announced a non-brokered private placement for $CA 1.5M. Colibri Resource negotiated an agreement to provide debt financing in an amount up to CAD $400K.  ON RESOURCES AND DEVELOPMENT, Premier Gold provided an exploration update on its Mercedes mine in Sonora.  Sierra Metals filed a NI 43-101 technical report for its Cusi mine in Chihuahua.  ON DEALS AND CORPORATE ISSUES, Goldplay secured eligibility for its shares and appointed its VP Corporate Development and Exploration. SilverCrest announced the resignation of one of its Directors. Equinox Gold announced court approval of the arrangement for the Solaris Copper spinout. VVC announced that its Annual General meeting for shareholders will be held on August 21. Radius Gold and Pan American silver entered in an agreement to explore the Amalia project in Chihuahua.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Silver Spruce Resources Inc., received approval for drilling its Pino de Plata project in Chihuahua. The company plans to perform a first phase of 1,500m of diamond drilling to test high grade targets identified with surface sampling, with a follow-up phase 2 where results warrant. The first drill target is El Terrero, an area of 2 square km area showing disseminated epithermal mineralization in intrusive rocks, where surface sampling returned up to 557 g/t Ag along with anomalous Au, Cu, Pb and Zn values. Six holes are planned with targeted depths to 100m. A second target is the Teodora Vein, where surface sampling reported up to 553 g/t Ag with anomalous values of Au, Cu, Pb and Zn. Three holes are proposed with planned depths to 100m. The third target is the Santa Elena Gossan, an area of 20 square km where surface rock sampling on carbonate replacement mineralization in limestone/marble and sandstone/hornfels assayed up to 349 g/t Ag with anomalous base metal values. Three to five holes are proposed in this target area with planned depths to 100m.
  • Radius Gold Inc., and Pan American Silver Corp., entered in a JV agreement to explore the Amalia project in Chihuahua. This option agreement is to explore a corridor of 3.5km of strike length and 600m of vertical interval, where 3 high grade targets showing epithermal Ag-Au mineralization in veins, vein breccias, and disseminated have been identified following the trace of a large regional fault zone. The Campamento target is a 500m by 70m zone of intense silicification and brecciation with massive and stockwork veining. A chip channel sampling returned 62m of 0.43 g/t Au and 98 g/t Ag. High grade has been also identified in this target with the most significant result returning 4.5m of 10.3 g/t Au and 202 g/t Ag. Radius and Pan American plan to drill test 100m to 250m below surface. The Guadalupe target is a high grade andesite structurally controlled breccia zone located 450m south along strike from the Campamento target and 250m lower in the geological section. A continuous chip sampling on the Guadalupe target returned 7m of 3.62 g/t Au and 1,048 g/t Ag, and 4m of 3.92 g/t Au and 888 g/t Ag. The Dulces target is a vein located 800m NE of Campamento target at the same elevation and occurs within an extensive argillic-altered andesite and related gold in soil anomaly. Sampling has returned 1m of 34 g/t Au and 13 g/t Ag, and 1.5m of 114.5 g/t Au and 57 g/t Ag.
  • VVC Exploration Corporation, reported drill results from its Samalayuca project in Chihuahua. The phase 3 was planned to drill 3,000m and begun in May 2018 with 8 holes completed to date. Results of the three first holes were 30m of 0.34% Cu and 6 g/t Ag, including 14m of 0.54% Cu and 10 g/t Ag; 7m of 0.39% Cu and 7 g/t Ag; and 25m of 0.43% Cu and 7 g/t Ag. These results extend the copper mineralization at La Gloria zone previously drilled in 2017.
  • Goldplay Explorations Ltd., announced initial results of four drill holes from its El Habal project in Sinaloa. The most significant results are 77.5m of 0.43 g/t Au, including 9.45m of 2.05 g/t Au, and 15.4m of 1.35 g/t Au. The mineralization intersected consisted of a series of mineralized breccias, structures/zone faults present in a 6km long mineralized corridor which represent a high-level gold system hosted by a volcanic sequence with intrusives and related hydrothermal fluids.
  • First Mining Gold Corp., and Gainey Capital Corp., signed an option agreement in which Gainey can acquires 100% of the Las Margaritas Gold project in Durango. Under the terms of the four year option agreement, Gainey can elect to make either annual share or cash payments to First Mining in the following amounts:

 

 

 

 

  1. Upon completion, Gainey will obtain 100% ownership of the Las Margaritas project and First Mining will retain a 2% net smelter returns (“NSR”) royalty, with Gainey having the right to buy back 1% of the NSR royalty for USD$1,000,000 up until the first anniversary of the commencement of commercial production at the project.

ON MINING

  • Alamos Gold Inc., presented Q2 2018 results from their Mulatos and El Chanate mines in Sonora. At Mulatos, the company produced 50.6K Oz Au at an all-in sustaining cost (AISC) per ounce of gold sold of $854. At El Chanate, Alamos produced 10.1K Oz Au at an AISC per ounce of gold sold of $1,442.
  • McEwen Mining Inc., reported Q2 2018 results from its El Gallo Fenix mine in Sinaloa. The compnay produced 10.8K GEOs (Silver and gold production are presented as GEOs). Total cash costs and AISC per GEO were $783 and $816 respectively.
  • Excellon Resources Inc., announced Q2 2018 results from its La Platosa mine in Durango. In Q2, 2018, the company milled 16.1K tonnes of 507 g/t Ag, 5.7% Pb, and 8.4% Zn to produce 277.7K Oz Ag, 1.8M Lb Pb, and 2.8M Lb Zn. Metallurgical recoveries for Ag, Pb, and Zn were 89.6%, 80.2%, and 82.2% respectively.
  • Great Panther Silver Limited, reported results from their mining operations in Mexico and Peru for the Q2, 2018 period. The company did not release detail information from its Mexican operations (Topia mine in Durango and Guanajuato Mine Complex in Guanajuato).
  • Telson Mining Corporation, presented Q2, 2018 results from its Campo Morado mine in Guerrero. The company processed 162.5K tonnes to produce 19.3M Lb Zn, and 1.3M Lb Pb, with metallurgical recoveries of 73.3% and 31.2% respectively.

ON FINANCING

  • VVC Exploration Corporation, announced a non-brokered private placement for $CA 1.5M. VVC has raised to date $CA 1.15M and expects to complete the rest $CA 350K in August.
  • Colibri Resource Corporation, negotiated an agreement with two shareholders to provide debt financing in an amount of up to CAD$400K.

 ON RESOURCES AND DEVELOPMENT

  • Premier Gold Mines Limited, provided an exploration update on its Mercedes mine in Sonora. The company announced the extension of a high grade vein system on its El Rey de Oro deposit. Significant underground drilling results are 16.55m of 6.21 g/t Au and 102 g/t Ag, 21.95m of 36.65 g/t Au and 171 g/t Ag, 20.5m of 8.1 g/t Au and 121 g/t Ag, and 9.2m of 8.33 g/t Au and 67.7 g/t Ag. Additionally, the company is conducting an underground drilling program to define the high grade Aida target located to the west of the main Mercedes vein where previous drilling has intersected a broad zone of low-grade mineralization with assays of up to 0.64 g/t Au and 0.79 g/t Ag across 31.5 metres. Premier also has the plan to drill test the Marianas vein once the drift has been established in H2 2018, and will go on with the definition and step-out drilling at Diluvio and Lupita areas that were recently brought into production.
  • Sierra Metals Inc., filed a NI 43-101 technical report for its Cusi mine in Chihuahua. The company released results of the PEA study. Results from the PEA include an after-tax net present value (NPV) of US$92.2 Million at an 8% discount rate, an after-tax internal rate of return (IRR) of 75%, a plant processing rate of currently 650 tonnes per day (TPD) growing to 1,200 TPD by Q1 2019 and 2,700 TPD by mid-2021, and a mine life of 9 years based on existing Mineral Resource Estimate.

ON DEALS AND CORPORATE ISSUES

  • Goldplay Exploration Ltd., appointed its VP Corporate Development and Exploration and secured eligibility by the Depositary Trusts Company for its shares on the OTC marketplace where the company trades under the symbol “GLYXF” (El Habal, Sinaloa).
  • SilverCrest Metals Inc., announced the resignation of one of its Directors. (Las Chispas, Sonora).
  • Equinox Gold Corp., announced final court approval of the arrangement for the Solaris Copper spinout (La Verde, Michoacan).
  • VVC Exploration Corporation, announced that its Annual General meeting of shareholders will be held on August 21 (Samalayuca, Chihuahua).
  • Radius Gold Inc., and Pan American Silver Corp., entered in a JV agreement to explore the Amalia project in Chihuahua. Pan American can earn an initial 65% of the property by making cash payments to Radius totaling $US 1.5M (of which $US 100K has been already paid), and expending $US 2M on exploration over four years, and can acquires an additional 10% by advancing the property to a FS.

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 marble breccia cemented by FeOx in an Iron Mine in Coahuila, Mexico. Photo by Miguel A Heredia.

Equinox Gold Announces Results from Annual and Special Meeting, Including Shareholder Approval of the Solaris Copper Spinout

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20180726-EQX-PR-AGMResults

Equinox Gold Corp. (TSX-V: EQX, OTC: EQXGF) (“Equinox Gold” or “the Company”) is pleased to announce that Equinox Gold shareholders approved all matters voted on at the annual and special meeting held earlier today, including the appointment of KPMG LLP as the Company’s auditor, reapproval of the Company’s rolling stock option plan and amendments to the Company’s restricted share unit plan. Shareholders also approved the transfer of copper assets to Solaris Copper Inc. (“Solaris Copper”), as outlined below, and the adoption of certain security-based compensation arrangements and an advance notice policy for Solaris Copper.

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

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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.

 

 

 

Evrim Resources Announces the Results of its Annual and Special General Meeting of Shareholders and Adoption of Rights Plan

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evrim announces results of its AGM

Vancouver B.C. – July 20, 2018: Evrim Resources Corp. (TSX.V: EVM) (“Evrim” or the “Company”) is pleased to announce the results of its Annual and Special General Meeting of Shareholders (the “Meeting”) held on July 16, 2018 in Vancouver, British Columbia. All resolutions voted on at the meeting were approved with greater than 99% support.