The Mining and Exploration News in Mexico: Highlights on the Second Week of October, 2021

By Jorge Cirett

During the 41st week of the year (October 11th to October 17th, 2021), at least 25 press releases were announced by companies working in Mexico. To note, six companies posted exploration advances on their properties, six released Q3 reports and one on commencement of mining, two on financing and eight more on project development or resource definition and one more on mining concessions acquisitions. ON MEXICO ISSUES, Mexico’s president presented a proposal to change the law in the energy industry, but also restricting lithium exploration and production to the government. Several other elements could be included in the bill, referred to as “strategic minerals”, without elaborating, although a government party senator named cobalt, niquel, rare earths and even copper. ON EXPLORATION, In Sonora, Benjamin Hill Mining released results from geophysical processing and from fluid inclusion studies that support a buried intrusive source for the mineralization at the Benjamin Hill property; Canuc Resources updated on its deep drilling program at San Javier; Colibri Resources received the permit to drill Evelyn. In Chihuahua, Kootenay silver increased land holdings at its Columba project. In Sinaloa, Vizsla Silver presented drilling results from the Tajitos zone at its Panuco project.   ON MINING, Guanajuato Silver commenced mining at El Cubo, in Guanajuato. First Majestic Silver, Golden Minerals, Gold Resource, Magna Gold, Aura Minerals and Avino Silver & Gold Mines presented its Q3 2021 reports. ON FINANCING, Candelaria Mining informed one of its lenders, Accendo Banco, had its operating permit revoked by Mexican authorities. Xali Gold announced Sun River Gold arranged a financing for US$6.5 M for the tailings project at El Oro, Estado de Mexico. ON RESOURCES AND DEVELOPMENT, GR Silver Mining filed a NI-43-101 technical report on the Plomosas project, Sinaloa. Orla Mining provided an update on the construction of the Camino Rojo Oxide project. Prime Mining released further drilling results from Los Reyes, Sinaloa. Fabled Silver Gold released underground drilling results for Santa Maria, in Chihuahua. GoGold Resources reported results from drilling at El Favor, on its Los Ricos North project located in Jalisco. Golden Tag resources is adding 4,500 m to its 2021 drilling program at San Diego, Durango. Capitan Mining reported results from drilling at El Capitan, in Durango. Zacatecas Silver is drilling the Panuco and Las Cruces areas, at its Zacatecas project, results pending.   ON DEALS AND CORPORATE ISSUES, Argonaut Gold acquired from Fresnillo PLC 4,791 ha in key concessions surrounding its San Agustin mine in Durango. ON SOCIAL RESPONSIBILITY, Minera Media Luna, Peñols, Newmont Peñasquito and Pan American Silver informed on community programs in education and health.

ON MEXICO ISSUES

  • Mexico is far from being a powerhouse in lithium production according to the Statistical Review of World Energy 2021 by BP. Australia, Chile and China hold 81.2% of reserves and 86.5% of lithium production, whereas Argentina, Brazil, Portugal, the United States and Zimbabwe account for 20.5% of reserves and 12.8% of the production. Camimex (Cámara Minera de México) points that the constitutional reform presented by the Mexican president lacks technical support, as even if there are several lithium projects in Mexico, none has proven economic viability. The most visible of these projects, in Sonora, is said to be the largest lithium prospect in the Globe, but its economic viability has still to be proven, as to date there is not a single mine of lithium in clays in the World.
  • Mexico will not grant lithium concessions, said the Mexican president. He stated that even if his electricity reform is not approved by congress, his government has the power to reject any request for a concession to mine lithium. “We will deny any request for a concession to mine lithium and we have the power to do so. We want this to be established in the constitution, lithium belongs to the state”.
  • Nationalistic views with control on “strategic minerals” have been voiced by Morena, the party in power in Mexico. Besides the explicit aim by the President to save all lithium extracting and processing activities for the government, his recent proposal also refers, without elaborating, to be applied in other “strategic minerals”. A senator form Morena mentioned these other minerals could include cobalt, nickel, rare earths and copper, although a spokeswoman from the Economy Secretariat mentioned that the list of strategic minerals was to be provided by the Mexican Geological Survey at a later date.

ON EXPLORATION

  • Canuc Resources Corp. updated on the exploration program at its San Javier project in Sonora. Three holes have been completed and a fourth one is in progress, currently at 922 m of depth and ongoing. Chalcopyrite has been encountered from 302 m and is still visible at 922 m of depth. “The drill hole has intersected a broad zone of variably stockworked and brecciated Barranca sediments with minor andesitic dykes. The Barranca sediments show contact metamorphism from about 461 m and downward, variable amounts of magnetite bearing veinlets, stringers and breccia matrix throughout”. The first two holes intercepted Barranca Formation sedimentary rocks with magnetite veinlets and best intercepts of 2.35 m @ 126 gpt Ag and 2.0 m @ 243 gpt Ag. The third hole was drilled on the Tarahumara Formation volcanic rocks for 500.5 m before being terminated due to drilling problems, intercepting several volcanic lithologies, chalcocite from 38 m of depth and sulfides including chalcopyrite from 332 m. Scattered gold and copper values on short intervals were intercepted, of up to 1.19 gpt Au and 0.41% Cu. Results for the current hole are still pending.
  • Colibri Resource Corp. received the needed permit to drill up to 56 holes at the Evelyn project in Sonora. “The fully funded drill program of up to 10,000 metres is expected to be conducted in two phases”.
  • Kootenay Silver Inc. increased its land holdings at its Columba project in Chihuahua. The company applied for a 10,825 hectare concession, supporting the decision to do so on the high-grade silver intercepts on drilling of the property.
  • Vizsla Silver Corp. presented the results from 23 new drill holes from the Tajitos vein at its Panuco project in Sinaloa. Highlighted true width intercepts comprise 1.38 m @ 1.16 gpt Au, 79 gpt Ag; 1.34 m @ 7.94 gpt Au, 960 gpt Ag; 0.70 m @ 4.16 gpt Au, 2,082 gpt Ag; 2.15 m @ 1.09 gpt Au, 188 gpt Ag; 1.38 m @ 2.83 gpt Au, 527 gpt Ag; 8.7 m @ 0.51 gpt Au, 99 gpt Ag; 1.99 m @ 2.46 gpt Au, 615 gpt Ag; 0.86 m @ 3.37 gpt Au, 315 gpt Ag; 1.39 m @ 3.26 gpt Au, 73 gpt Ag; 1.3 m @ 2.47 gpt Au, 600 gpt Ag; 1.50 m @ 9.90 gpt Au, 2,607 gpt Ag; 0.7 m @ 5.73 gpt Au, 1,115 gpt Ag; 4.38 m @ 1.62 gpt Au, 216 gpt Ag. The footprint of the Tajitos zone has been recognized for 800 m along strike and 300 m of depth.
  • Benjamin Hill Mining Corp. informed the seven kilometer long trend of epithermal mineralization at its Benjamin Hill project in Sonora is related to a well-defined magnetic anomaly. A magnetic high more than 12 kilometers long and 4 km wide lies beneath the surface, crossing the property in a N-NE orientation, with the Au-Cu mineralization parallel to the crest of the magnetic high.  “Our hypothesis explains that the magnetic anomaly corresponds to a partially exhumed fertile pluton. We suggest the mineralization seen at surface was driven by the heat engine of a buried pluton providing hydrothermal fluids that formed mineralized tabular bodies enriched with Au, Ag, and Cu (i.e. veins and breccias), as well as fluids that caused hydrothermal alteration halos (phyllic, epidote-magnetite and argillic alteration)…”.
  • Mammoth Resources Corp. updated on drilling at its Tenoriba project in Chihuahua. The company informed heavy rainfall during August and September is subduing by now, and that they expect an increase in the drilling rate that produced only 420 m of core in 8 weeks. “Mammoth intends to initially drill 2 – 4 holes within each target zone then move to another target zone to drill a similar number of holes”. Results on the first holes are pending.
  • Benjamin Hill Mining Corp. informed on results of fluid inclusion studies at its Benjamin Hill property in Sonora. The salinity and homogenization temperatures point to an epithermal system with an overprinting magmatic influence, and exhumation depths  between 150 m and 750 m in the mineralized structures. “This observation combined with recent geophysical data, supports the hypothesis of the existence of a mineralized plutonic source with a high possibility for Au-Cu metallic enrichment and porphyry potential”.

ON MINING

  • Guanajuato Silver Company Ltd. commenced to process silver-gold ore at its El Cubo mine and mill in Guanajuato. Prior to the start of mill operations, 20 K tonnes of material from El Cubo were mined and stockpiled, to be processed at 750 tonnes per day (tpd) in the plant with a capacity for 1,500 tpd, or over 500 K tonnes per year.
  • First Majestic Silver Corp. presented production results for the third quarte 2021, including figures from its three Mexican operations. At San Dimas, Durango, 214.2 K tonnes were processed at a rate of 2,328 tpd and a grade of 289 gpt Ag, 3.14 gpt Au, recovering 95% Ag, 96% Au to produce 20,767 Oz Au, 1.89 M Oz Ag. At Santa Elena in Sonora 234.9 K tonnes were processed grading 74 gpt Ag, 1.04 gpt Au, recovering 91% Ag, 96% Au to produce 508.6 K Oz Ag, 7,498 Oz Au. At La Encantada in Coahuila, 263.6 K tonnes were processed grading 134 gpt Ag, 0.02 gpt Au, recovering 80% Ag, 90% Au to produce 905 K Oz Ag, 114 Oz Au.
  • Golden Minerals Co. reported third quarter 2021 production from its Rodeo mine in Durango. The mill processed an average of 532 tpd at a grade of 4.0 gpt Au, recovering 76.5% Au to produce 4,777 Oz Au, 12,196 Oz Ag. Golden’s guidance for 2021 continues between 12 K – 14 K Oz Au and 25 K – 30 K Oz Ag.
  • Gold Resource Corp. presented preliminary third quarter 2021 production results. At its Arista mine in Oaxaca 98 K tonnes were milled at a rate of 1,353 tpd, grading 2.68 gpt Au, 91 gpt Ag, 0.37% Cu, 2.3% Pb, 4.8% Zn, to produce 6,933 Oz Au, 265.8 K Oz Ag, 1,808 tonnes Pb, 3,920 tonnes Zn. The cash cost per AuEq Oz was between $250-$290 and the AISC per AuEq Oz between $250-$290.
  • Magna Gold Corp. reported Q3 2021 production results. At San Francisco, in Sonora, 1.72 M tonnes were mined @ 0.46 gpt Au, and 4.52 M tonnes of waste moved (2.62 strip ratio), 1.76 M tonnes were processed @ 0.45 gpt Au, with 25,663 Oz Au placed in the pads to produce 19,102 Oz Au, 7,115 Oz Ag. The guidance for the year remains at 55-65 K Oz Au.
  • Aura Minerals Inc. announced preliminary production results for the third quarter of 2021, including figures from its Mexican operations. At Aranzazu, in Zacatecas, Aura produced 6,404 Oz Au, 106.1 K Oz Ag, 8.15 M Lb Cu, or 26,745 Oz AuEq.
  • Avino Silver & Gold Mines Ltd. released its production report for the third quarter 2021. The Avino mine in Durango successfully recommenced operations at a 1,000 to 1,500 tpd rate (with a 2,500 tpd plant capacity) with 58.2 K tonnes produced, 61,8 K tonnes processed (with aid of some stock piled material) grading 48 gpt Ag, 0.83 gpt Au, 0.58% Cu, recovering 86% Ag, 75% Au, 85% Cu to produce 77.9 K Oz Ag, 1,183 Oz Au, 685.5 K tonnes Cu.

ON FINANCING

  • Candelaria mining Corp. informed one of its lenders, Accendo Banco S.A. had its authorization to operate as a banking institution revoked by the Mexican National Banking and Securities Commission. “The Company has a US$9.0 million loan facility in place with Accendo and to date has drawn US$1.5 million under the loan facility. The Company anticipates that its ability to draw any further funds from its loan facility with Accendo may be impaired by these developments.” (Pinos, Zacatecas).
  • Xali Gold Corp. announced that Sun River Gold has arranged a financing of US$6.5 M to build an put in operation the tailings reprocessing operation at El Oro, Estado de México. “Sun River has the option to acquire 100% of the Tailings Project from Minera CCM by making staged payments totalling US$500,000 (paid), bring the tailings into commercial production by October 31, 2021 (extended to March 31, 2022 due to COVID), and grant to the Company a 5% NPI, Life of Mine royalty (the “Candente Royalty”) as well as the Municipality’s 8% NPI on production from the properties” (El dorado, Nayarit).

ON RESOURCES AND DEVELOPMENT

  • GR Silver Mining Ltd. filed a technical report on the Plomosas project, in Sinaloa. The report envisages 3.4 M Oz Ag, 53 K Oz Au, 73 M Lb Zn, 48 M Lb Pb (10.3 M Oz AgEq) in indicated resources and 8.6 M Oz Ag, 85 K Oz Au, 149 M Lb Zn, 116 M Lb Pb (21.0 M Oz AgEq) in inferred resources. The report includes information from over 100,000 meters of drilling in 476 historic and 80 new drill holes. A 14,000 meters drilling program with seven rigs is in progress.
  • Orla Mining Ltd. provided a construction update for the Camino Rojo Oxide project in Zacatecas. To date Camino Rojo is 89% complete with the ramp up of mining operations according to plan, and the crushing and conveying system, reclaim tunnel, overland conveyor and grasshopper conveyors completed. The Merrill-Crowe plant and refinery are 98% complete. In the year 757.1 K tonnes have been mined at a grade of 0.86 gpt Au, of which 511.2 K tonnes have been crushed and 220.2 K tonnes stacked.
  • Prime Mining Corp. informed on further drilling results from its Los Reyes project in Sinaloa. Highlighted true width (TW) intercepts comprise 11.8 m @ 6.12 gpt Au, 62 gpt Ag, (including 5.5 m @ 12.02 gpt Au, 61 gpt Ag); 13.1 m @ 3.36 gpt Au, 83 gpt Ag; 13.2 m @ 2.18 gpt Au, 31 gpt Ag; 8.4 m @ 2.85 gpt Au, 31 gpt Ag; 1.4 m @ 3.89 gpt Au, 13 gpt Ag in the Zapote South step out holes, and 3.8 m @ 14.51 gpt Au, 82 gpt Ag; 2.2 m @ 3.96 gpt Au, 9 gpt Ag; 2.1 m @ 5.55 gpt Au, 164 gpt Ag; 2.90 m @ 2.07 gpt Au, 248 gpt Ag; 3.9 m @ 1.90 gpt Au, 78 gpt Ag; 0.9 m @ 3.86 gpt Au, 448 gpt Ag; 4.0 m @ 1.55 gpt Au, 230 gpt Ag in the Tahonitas step out drilling. The boiling level at Zapote, with its corresponding higher grades, has been identified 50 m below previous reports, expanding the exploration targets.
  • Fabled Silver Gold Corp. released further assay results from its Santa Maria property in Chihuahua. The underground drilling was successful in intersecting a geochemically anomalous intrusive rock with a 54.6 m interval grading 0.02 gpt Au, 9 gpt Ag (including three intervals 1.5, 1.5 and 1.2 m in width grading 20, 21 and 23 gpt Ag respectively) and another hole returning 4.5 m @ 13 gpt Ag.
  • GoGold Resources Inc. reported results of 10 new holes from El Favor east zone, extending the mineralized strike by over 450 meters at its Los Ricos North project in Jalisco. Some of the core-length intervals intercepted comprise 27.0 m @ 0.44 gpt Au, 64 gpt Ag; 3.0 m @ 0.51 gpt Au, 86 gpt Ag; 22.3 m @ 0.31 gpt Au, 118 gpt Ag (including 1.0 m @ 3.96 gpt Au, 944 gpt Ag); 7.7 m @ 0.46 gpt Au, 147 gpt Ag; 24.2 m @ 0.45 gpt Au, 105 gpt Ag (including 2.0 m @ 4.16 gpt Au, 794 gpt Ag); 6.1 m @ 1.32 gpt Au, 328 gpt Ag; 2.1 m @ 0.63 gpt Au, 179 gpt Ag; 11.4 m @ 0.26 gpt Au, 136 gpt Ag (including 6.0 m @ 0.38 gpt Au, 179 gpt Ag); 20.1 m @ 0.22 gpt Au, 68 gpt Ag (including 1.0 m @ 2.59 gpt Au, 563 gpt Ag); 18.3 m @ 0.30 gpt Au, 98 gpt Ag (including 5.6 m @ 0.90 gpt Au, 255 gpt Ag). El Favor East mineralization is now known for 900 m, of which 600 m have been drilled.
  • Golden Tag Resources Ltd. announced the addition of 4,500 meters of diamond drilling to its exploration program for 2021 at its San Diego project in Durango. That meterage is in addition to the 4,716 meters already sunk and reported in 2021.   The program discovered epithermal mineralization near the surface, the following are some selected core-length intervals: 273.65 m @ 0.10 gpt Au, 43 gpt Ag, 0.2% Pb, 0.3% Zn (76 gpt AgEq); 50.17 m @ 0.05 gpt Au, 31 gpt Ag, 0.9% Pb, 0.7% Zn; 99.53 m @ 0.09 gpt Au, 27 gpt Ag, 0.7% Pb, 0.6% Zn; 25.55 m @ 0.08 gpt Au, 37 gpt Ag, 0.3% Pb, 0.6% Zn; 86.64 m @ 0.03 gpt Au, 39 gpt Ag, 0.9% Pb, 0.6% Zn; 169.83 m @ 0.04 gpt Au, 32 gpt Ag, 0.6% Pb, 0.8% Zn; 116.45 m @ 0.03 gpt Au, 42 gpt Ag, 0.6% Pb, 0.7% Zn; 134.37 m @ 0.13 gpt Au, 20 gpt Ag, 0.6% Pb, 0.7% Zn; 191.57 m @ 0.04 gpt Au, 35 gpt Ag, 0.8% Pb, 0.8% Zn.
  • Capitan Mining Inc. reported results form five reverse circulation (RC) drill holes at El Capitan, in Durango. Highlighted core length intervals comprise 6.1 m @ 0.15 gpt Au; 13.7 m @ 0.32 gpt Au; 44.2 m @ 0.13 gpt Au, 3 gpt Ag; 6.1 m @ 0.12 gpt Au, 5 gpt Ag; 10.7 m @ 0.12 gpt Au, 27.4 m @ 0.23 gpt Au; 62.5 m @ 0.38 gpt Au, 4 gpt Ag; 35.1 m @ 0.14 gpt Au; 21.3 m @ 0.19 gpt Au; 18.3 m @ 0.15 gpt Au; 6.1 m @ 0.29 gpt Au; 13.7 m @ 0.39 gpt Au, 4 gpt Ag; 85.3 m @ 0.16 gpt Au; 19.8 m @ 0.15 gpt Au, 4 gpt Ag.
  • Zacatecas Silver Corp. provided an update on the drilling program at Panuco, within its Zacatecas property in Zacatecas. Four drill holes were completed for a total of 1,088m at Panuco, while two more were completed at Las Cruces vein system and one more is ongoing. Results are pending.

ON DEALS AND CORPORATE ISSUES

  • Argonaut Gold Inc. has acquired key mineral concessions from Fresnillo PLC for a cash consideration of US$5.75 M. The acquired package comprises a 4,791-ha concession and four key small concessions totalling 27 ha, which will allow Argonaut to expand the pit, increase mineral reserves and extend mine life.

ON SOCIAL RESPONSIBILITY

  • Minera Media Luna informed on educational programs presented at communities in Guerrero.
  • Peñoles presented its company-wide water saving strategy on all its activities.
  • Newmont Peñasquito updated on activities with positive results in near-by communities.
  • Panamerican Silver informed on community health programs near its La Colorada mine in Zacatecas.

On the image below: Galena bearing milky quartz vein on a project in the Sonoran Desert. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the First Week of October, 2021. 

Phyllic alteration and Cu mineralization

By Miguel A Heredia

During the 40th week of the year (October 04th to October 10th, 2021), at least 26 press releases were announced by companies working in Mexico and 3 news published by the media, with nine reporting resources and developments, six communicating production and financial results, four informing on exploration results, four announcing financial topics, three disclosing deals and corporate issues, two commenting on Mexican issues and one discussing social issues.  ON MEXICO ISSUES, Members of the Mining Cluster of Chihuahua met with federal deputies of the Partido Acción Nacional (PAN) to let them know of the importance of mining not only in the state but in the entire country.  President AMLO announced a proposal that would put end the current system of lithium concessions and leave exploration and production in the hands of the State. ON EXPLORATION, In Baja, One World Lithium provided an update of its current drilling program at its Salar del Diablo project. In Sonora, Benjamin Hill provided an update of details on the recently released NI 43-101 report on its Benjamin Hill project.  In Chihuahua, Kootenay reported results from the last six holes collared at its Columba project. In Jalisco, Almadex announced Q4, 2021 plans for its San Pedro project. ON MINING, Endeavour Silver reported Q3, 2021 production results from their Mexican mine operations. Gatos Silver announced Q3, 2021 production results from its 70% owned Cerro Los Gatos mine in Chihuahua. GoGold presented quarterly and year ending September 2021 production results from its Parral Tailings project in Chihuahua. Great Panther announced Q3, 2021 production results from their Topia and Guanajuato Mine Complex mines in Durango and Guanajuato states respectively. McEwen reported Q3, 2021 production results from its El Gallo property in Sinaloa. Torex Gold announced Q3, 2021 production results from its El Limon-Guajes Mine Complex in Guerrero. ON FINANCING, Aztec Minerals announced the arrangement of a non-brokered private placement for gross proceeds of CAD $1.05M (Cervantes project, Sonora). Heliostar announced the commencement of a non-brokered private placement for gross proceeds of up to $2M that later on increased it to a maximum of $4M (Cumaro, Oso Negro and la Lola project in Sonora). Tarachi Gold announced a non-brokered private placement for gross proceeds of up to $500K (Magistral Mill and Tailings project, Durango). ON RESOURCES AND DEVELOPMENT, Almaden announced that it has resumed drilling activities at its Ixtaca project in Puebla. Excellon released results from its underground drilling program conducted at its the Platosa mine in Durango. Fabled reported results from its underground drilling program at its Santa Maria project in Chihuahua.  Golden Tag received approval from the Secretariat of Natural Resources and Environment (SEMARNAT) to build additional 41 drill pads at its San Diego property in Durango. GR Silver completed a 3D resistivity, IP and ground magnetic survey at its Plomosas project in Sinaloa. Impact Silver released results from its underground drilling program at Zacualpan mining district, State of Mexico. Minera Alamos provided an update on the ongoing pit optimization drilling program at its Santana property in Sonora. Silver Dollar received drilling permit for its la Joya project in Durango. Tarachi Gold reported results from the tailings drilling program at its Magistral Mill and Tailings project in Durango. ON DEALS AND CORPORATE ISSUES, Santacruz Mining informed that it is suspending operations at the Rosario Project in San Luis Potosi, and placing it on care and maintenance. Riverside reported on mining claims consolidation and expansion of its the La Union polymetallic project in Sonora. Sailfish entered into a binding letter of intent with 1287398 B.C. Ltd., to create a silver focused exploration and development company (Gavilanes property, Durango). ON SOCIAL RESPONSIBILITY, Fresnillo plc and its subsidiary Minera Penmont delivered an ambulance to representatives of the Red Cross in Caborca, Sonora.

ON MEXICO ISSUE

  • Members of the Mining Cluster of Chihuahua met with federal deputies of the Partido Acción Nacional (PAN) to let them know of the importance of mining not only in the state but in the entire country. Deductions of the mining exploration expenses as well as the electricity reform were some of the issues addressed to the deputies. According to the mining sector, if the electricity reform is approved, it will affect the competitiveness of mining. The Mining Cluster, in communion with government authorities, seeks to generate the development of local supply, as well as attracting greater mining investment in the state.
  • President AMLO announced a proposal that would put end the current system of lithium concessions and leave exploration and production in the hands of the State. However, the owner of the USD $420M project Bacanora Lithium stated that the Mexican government’s plans to bring lithium resources under state control will not affect progress in Sonora, since the new reforms will not affect lithium licenses already granted to private companies, as long as exploration work has already started and all licensing requirements have been met.

ON EXPLORATION

  • One World Lithium Inc., provided an update of its current drilling program at its Salar del Diablo project in Baja. The company announced that hole DDH-4 reached a depth of 381m on October 2, 2021 with an expected total depth of 600m. If the results of DDH-4 warrant it, other boreholes will be drilled in the area.
  • Benjamin Hill Mining Corp., provided an update of details on the recently released NI 43-101 report on its Benjamin Hill project in Sonora. “Detailed mapping at 1:1,000 scale has indicated the presence of a large magmatic-hydrothermal system, including mineralized structures, stockworks, sheeted veins, alteration halos, all of which are hosted in granitoids, an eroded skarn system, a volcaniclastic sequence, and volcanic rocks, as well local orogenic quartz veins. This large hydrothermal system could be co-genetic with a bimodal dike swarm mapped on the property and related to a buried fertile plutonic system, suggesting that geological structures and mineralization seen at surface are indicative of a Cu-Au porphyry system at depth”. Recommended activities to be conducted at the property over the next 2-3 months are completing the mapping and sampling on the areas of Caracahui, la Salada, Caracahui Norte and the Sonora Copper; mapping and channel sampling of the Cascabel and Guadalupe adits; dating studies of the plutonic rocks, prospection of the new areas generated by geochemistry (La Falsa, San Felix, and La Berrenda); and channel sampling on the Sonora Copper adit.
  • Almadex Minerals Ltd announced Q4, 2021 plans for its San Pedro project in Jalisco. The company reported that the property is fully permitted and is currently mobilizing a team and rig to site to conduct a drill testing prior to year-end.
  • Kootenay Silver Inc., reported results from the last six holes collared at its Columba project in Chihuahua. The company announced the best drill intercept to date in hole CDH-21-103 with 333 g/t Ag over 44m, including 805 g/t Ag over 17m, including 1,201 g/t Ag over 11m, including 2,035 g/t Ag over 6m, and a high of 9,840 g/t Ag over 0.92m.

ON MINING

  • Endeavour Silver Corp., reported Q3, 2021 production results from their Mexican mine operations. The next table shows the production for the third quarter 2021 by mine:
  • Gatos Silver Inc., announced Q3, 2021 production results from its 70% owned Cerro Los Gatos mine in Chihuahua. The company mined 242,899 tonnes and milled 234,054 tonnes of 256 g/t Ag, 0.3 g/t Au, 2.35% Pb, and 4.1% Zn with metallurgical recoveries of 89%, 63%, 91%, and 74% respectively, to produce 1.7M Oz Ag, 1.3K Oz Au, 10.8M Lb Pb, and 13.5M Lb Zn.
  • GoGold Resources Inc., presented quarterly and year ending September 2021 production results from its Parral Tailings project in Chihuahua. GoGold produced 221.2K Oz Ag, 3,437 Oz Au and 309.1K Lb Cu (526,044 Oz AgEq) in the quarter period for a total of 1.14 M Oz Ag, 13.45K Oz Au, and 1.05M Lb Cu (2.27M Oz AgEq) in the full year ending in September 2021.
  • Great Panther Mining Limited announced Q3, 2021 production results from their Topia and Guanajuato Mine Complex mines in Durango and Guanajuato states respectively. At Topia, Durango, the company processed 14, 433 tonnes of 373 g/t Ag, and 0.64 g/t Au with metallurgical recoveries of 93.7% and 72.2% respectively, to produce 162.2K Oz Ag, 215 Oz Au, 600.3K Lb Pb, and 777.3K Lb Zn (242K Oz AgEq or 2,847 Oz AuEq). At Guanajuato Mine Complex, Guanajuato, Great Panther processed 41,343 tonnes of 102 g/t Ag, and 1.64 g/t Au with metallurgical recoveries of 87.1% and 86.4% respectively, to produce 118K Oz Ag and 1,883 Oz Au (278K Oz AgEq or 3,271 Oz AuEq). “The Company has not yet been granted a permit from the Comisión Nacional del Agua (CONAGUA) to expand the TSF at the Guanajuato Mill Complex, which only has sufficient capacity to continue milling operations until December 2021. While the Company continues to proactively engage CONAGUA to expedite the permitting process, the operating assumption is that a permit will not be forthcoming and numerous longer-term solutions are currently being assessed, including processing ore at third-party facilities”.
  • McEwen Mining Inc., reported Q3, 2021 production results from its El Gallo property in Sinaloa. In Q3, El Gallo produced 560 Gold Equivalents Ounces (GEOs) from residual leaching of the heap leach pad.
  • Torex Gold Resources Inc., announced Q3, 2021 production results from its El Limon-Guajes Mine Complex in Guerrero. The company reported a gold production of 111,220 Oz. The company sold this production at an average realized gold price of USD $1,785 per Oz.

ON FINANCING

  • Aztec Minerals Corp., announced the arrangement of a non-brokered private placement for gross proceeds of CAD $1.05M. Part of the net proceeds will be used to conduct exploration work at its Cervantes porphyry Au-Cu project in Sonora.
  • Heliostar Metals Limited announced the commencement of a non-brokered private placement for gross proceeds of up to $2M that later on was increased to a maximum of $4M. Part of the gross proceeds will be used to conduct exploration work at the Cumaro, Oso Negro and la Lola project in Sonora.
  • Tarachi Gold Corp., announced a non-brokered private placement for gross proceeds of up to $500K. Proceeds of the private placement will be used for general working capital. (Magistral Mill and Tailings project, Durango).

ON RESOURCES AND DEVELOPMENT

  • Almaden Minerals Ltd., announced that it has resumed drilling activities at its Ixtaca project in Puebla. The company also informed that all fieldwork has been conducted in compliance with the Mexican Institute for Social Security (IMSS) since the Company’s Covid-19 protocols detected several COVID-19 cases amongst members of the Company’s local staff. All these individuals were immediately quarantined and supported by the company and one was hospitalized, who unfortunately passed away despite all best efforts. The company has established a COVID Committee that meets weekly to assess the COVID- 19 situation, ensure commitment to company protocols, and discuss opportunities for improvement in the protocols.
  • Excellon Resources Inc., released results from its underground drilling program conducted at its the Platosa mine in Durango. Highlights include hole EX21UG90 with 1,570 g/t Ag, 10.4% Pb, 29.6% Zn, and 0.1 g/t Au (2,860 g/t AgEq) over 7.5m, including 2,424 g/t Ag, 14% Pb, and 35% Zn (3,987 g/t AgEq) over 3.4m, plus 479 g/t Ag, 4.6% Pb, and 2% Zn (667 g/t AgEq) over 2.5m, including 1,758 g/t Ag, 16.5% Pb, and 7.5% Zn (2,441 g/t AgEq) over 0.5m; and hole EX21UG687 with 1,214 g/t Ag, 8.3% Pb, and 16.9% Zn (2,009 g/t AgEq) over 3.1m, including 2,530 g/t Ag, 16.7% Pb, and 19.3% Zn (3,623 g/t AgEq) over 1.2m. “Drilling from underground continues to define and expand known mineralization ahead of production at the 623 and NE-1S mantos. Drilling at Platosa will continue to target areas ahead of production and test the extent of mineralization around mine workings”. 
  • Fabled Silver Gold Corp., reported results from its 1,200m underground drilling program at its Santa Maria project in Chihuahua. Hole SMUG21-16 intersected 0.21 g/t Au,  120 g/t Ag, 0.1% Pb, 0.4% Zn, and 0.01% Cu (131 g/t AgEq) over 5.1m, including 0.6 g/t Au, 387 g/t Ag, 0.35% Pb, 0.6% Zn, and 0.01% Cu (418 g/t AgEq) over 1.3m. Hole SMUG21-17 drilled from the same setup but with different dip angle intersected 1.07 g/t Au, 106 g/t Ag, 0.05% Pb, and 0.2% Zn (161 g/t AgEq) over 3.95m, including 6.46 g/t Au, 490 g/t Ag, 0.3% Pb, 0.45% Zn, and 0.01% Cu (822 g/t AgEq) over 0.60m.
  • Golden Tag Resources Ltd., received approval from the Secretariat of Natural Resources and Environment (SEMARNAT) to build additional 41 drill pads at its San Diego property in Durango, increasing the total number of permissible pads to 55. The new permit is valid for a period of 4 years.
  • GR Silver Mining Ltd., completed a 3D resistivity, IP and ground magnetic survey at its Plomosas project in Sinaloa. This geophysical survey links San Marcial resource with the recent GAP area discovery and the San Juan resource. Elevated chargeability has been identified in the vicinities of San Marcial resource area; the magnetic survey shows several oriented magnetic features; and the resistivity data shows that important parts of the Plomosas project are separated into structural blocks controlled by NW-trending faults and mineralized structures. Early-stage field assessment of Ag-Au targets is underway and several of these are currently in the drill planning stage.
  • Impact Silver Corp., released results from its underground drilling program in the Lipton area of its Guadalupe Mine at Zacualpan mining district, State of Mexico. Significant drill intercepts were encountered in hole MPZ-UG-001-21 with 327 g/t Ag, 0.3% Pb, and 0.6% Zn over a true width (TW) of 2.5m; hole MPZ-UG-002-21 with 691 g/t Ag, 0.3%, and 0.7% over a TW of 1.29m; hole MPZ-UG-006-21 with 443 g/t Ag, 0.2% Pb, and 0.3% Zn over a TW of 1.90m; and hole MPZ-UG-014-21 with 472 g/t Ag, 0.2% Pb, and 0.5% Zn over a TW of 1.69m. The drill holes covered the vein systems over a strike length of 430m and a vertical distance of 200m.
  • Minera Alamos Inc., provided an update on the ongoing pit optimization drilling program at its Santana property in Sonora. Drilling highlights include hole S20-147D with 0.69 g/t Au over 248.8m from surface and ending in mineralization; hole S20-149D with 0.77 g/t Au over 152.7m from surface, including 1.39 g/t Au over 56.2m; and hole S21-160D with 0.51 g/t Au over 242.7m from 41.9 down hole.   
  • Silver Dollar Resources Inc., received permit for the next phase of drilling at its la Joya project in Durango. The company is cashed-up and eager to restart exploration drilling for the first time in over seven years.
  • Tarachi Gold Corp., reported results from the tailings drilling program at its Magistral Mill and Tailings project in Durango. A total of 37 vertical auger holes were completed to depths ranging from 1.3 to 14.5m with an average depth of 6.6m. The 171 gold tailings samples ranged in grade from 0.89 to 4.12g/t with an average of 2.04g/t Au.

ON DEALS AND CORPORATE ISSUES

  • Santacruz Silver Mining Ltd., informed that it is suspending operations at the Rosario Project in San Luis Potosi, and placing it on care and maintenance. This decision was made following an extensive review by management of the Rosario project operations and strategic options available including the potential sale of the operation.
  • Riverside Resources Inc., reported on mining claims consolidation and expansion of its the La Union polymetallic project. The acquisition of the La Famosa and Plomito small internal claims provided Riverside access to high-grade small scale mine properties increases its property total area to over 2,604 hectares. Riverside optioned these properties over 4 years term staged cash payments without any NSR.  At La Famosa, Riverside can earn 100% of interest in the property by making a total cash payment of USD $175K in staged cash payments starting with USD $10K in the first year anniversary, $USD 15K in the second year, USD $25 in the third year, USD $50K in the fourth year, and a final cash payment of USD $75,000. At Plomito, Riverside can earn 100% interest in the property by making a total cash payment of USD $165K in staged cash payments, starting with USD $10K in the first year anniversary, $USD 15K in the second year, USD $25 in the third year, USD $40K in the fourth year, and a final cash payment of USD $75,000.
  • Sailfish Royalty Corp., entered into a binding letter of intent with 1287398 B.C. Ltd., to create a focused exploration and development company (Pubco or Sailfish Silver as the proposed transaction). The plan is to transfer the Gavilanes Silver Project to Pubco in exchange for shares of Pubco.  

ON SOCIAL RESPONSIBILITY

  • Fresnillo plc and its subsidiary Minera Penmont delivered an ambulance to representatives of the Red Cross in Caborca, Sonora. With this action, the Mexican company strengthens the vehicle fleet of the health institution that is responsible for protecting the health of the people of Caborca.

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 phyllic alteration with Cu mineralization in a prospect in Sonora, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Third Week of September, 2021

By Jorge Cirett

During the 37th week of the year (September 13th to September 19th, 2021), at least 19 press releases were announced by companies working in Mexico. To note, four companies posted exploration advances on their properties, one posted on quarterly reports, three on mining issues, two on financing or shares and seven more on project development or resource definition and one more on a property acquisition. ON MEXICO ISSUES, silver mining investments boosted. ON EXPLORATION, in Sonora, Benjamin Hill Mining filed a NI43-101 technical report on the Benjamin Hill property, and later in the week released gold-rich surface samples assays. In Chihuahua, Mammoth Resources commenced drilling at Tenoriba. In Durango, Canasil Resources presented results from drilling at Nora. ON MINING, Americas Gold and Silver started to recall its workforce at Cosalá in Sinaloa. Starcore International presented its quarterly report. Mexus Gold completed its first substantial gold sale. Tarachi Gold released metallurgical results for El Jabali, in Sonora. ON FINANCING, SilverCrest Metals was included on a top performer list of the TSX. Vizsla Silver completed the spin out of Vizsla Copper. ON RESOURCES AND DEVELOPMENT, Argonaut Gold continues to find high-grade gold under El Creston pit at La Colorada in Sonora. Impact Silver bought another drill rig for Zacualpan, in Estado de Mexico. Fabled Silver presented results from surface drill holes at Santa Maria, in Chihuahua. Hecla Mining updated on exploration at San Sebastian, in Durango. GoGold Resources released drilling results from El Favor deposit at its Los Ricos North project. Sonoro Gold presented a PEA on its Cerro Caliche project in Sonora. Golden Minerals released results from 20 RC holes at Rodeo, in Durango.   ON DEALS AND CORPORATE ISSUES, Tocvan Ventures completed the acquisition of Millrock’s Picacho concessions in Sonora. ON SOCIAL RESPONSIBILITY, Peña Colorada informed on works to benefit inhabitants of three communities in Colima.

ON MEXICO ISSUES

  • Silver mining investments in Mexico boosted by a production shortfall and ecological demand. Mining companies in Mexico are investing in growth on the outlook of silver demand surpassing production in the transition to the abandonment of fossil fuels. Silver use is augmenting in the construction of photovoltaic panels, and is also a key component in the construction of electric vehicles. Silver production has fallen from 899 M Oz in 2016 to 784 M Oz in 2020, although a rebound from the pandemic is estimated at 848 M Oz for 2021. Mexico was the largest silver producer in the world in 2020, with 180 M Oz.  
  • The AIMMG (Asociación de Ingenieros de Minas, Metalurgistas y Geólogos de México) 2021 conference is to be held in Acapulco, Guerrero, in October 19 to 22.

ON EXPLORATION

  • Benjamin Hill Mining Corp. filed a NI-43-101 technical report on the Benjamin Hill property in Sonora. There are six active areas of exploration in the 6,000 ha property: Caracahui (high grade Au-Ag-Cu epithermal veins), Caracahui North (specularite bearing veins), Sonora Copper (two wide structures up to 30 m wide, Au-Cu-Ag bearing), La Falsa (stockwork) and La Berrenda (historical mine and Au-Cu in stream sediments). Recommended further work includes completion of surface and underground mapping and sampling, petrography, dating of intrusive rocks, further prospecting and diamond drilling of the most prospective targets.
  • Monarca Minerals Inc. completed another three RC holes at its San Jose project in Chihuahua. “all of the drill hole intersected exoskarn and/or endoskarn mineralization with sulfide minerals ….. The sulfide minerals observed were dominantly pyrite, with very fine grained dark sulfide minerals, which appear to be sphalerite and galena in some cases. Chalcopyrite was locally observed”. Results are pending.
  • Mammoth Resources Corp. commenced its diamond drilling program at Tenoriba in Chihuahua. Five target zones are to be tested along a 4 km east-west trend incorporating over 3,000 soil, chip and channel samples and 26 prior drill holes. Two rigs are on site to test the targets generated by the 3D modelling of surface and geophysical data.
  • Canasil Resources Inc. presented results from the fourth hole of the 2021 follow up drill campaign at Nora, in Durango. Highlighted true width intercepts comprise 11.29 m @ 5.31 gpt Au, 336 gpt Ag, 0.17% Zn, including 1.35 m @ 9.00 gpt Au, 487 gpt Ag and 1.81 m @ 9.54 gpt Au, 729 gpt Ag and 1.81 m @ 9.43 gpt Au, 666 gpt Ag. “The high-grade mineralized bands in core drill holes NRC-21-09 ………. and NRC-21-12 are defining the highest-grade zone of the Candy vein structure, and point to increasing grades and widths to depth, and along strike to the north of the central panel tested to date”.
  • Benjamin Hill Mining Corp. released high-grade assay results from the Caracahui and Caracahui North zones at its Benjamin Hill property in Sonora. Highlighted results include 31.4 gpt Au, 1.0% Cu, 31 gpt Ag; 16.2 gpt Au, 16 gpt Ag; 15.9 gpt Au, 0.4% Cu, 3 gpt Ag; 15.1 gpt Au, 0.5% Cu, 139 gpt Ag; 8.5 gpt Au, 1.3% Cu, 18 gpt Ag; 7.5 gpt Au, 34 gpt Ag; 4.8 gpt Au, 1.2% Cu, 109 gpt Ag from Caracahui North, and 31.4 gpt Au, 158 gpt Ag; 15.1 gpt Au, 139 gpt Ag; 4.8 gpt Au, 109 gpt Ag, 4.1 gpt Au, 83 gpt Ag; 3.3 gpt Au, 94 gpt Ag; 2.8 gpt Au, 110 gpt Ag; 2.6 gpt Au, 110 gpt Ag, 0.7 gpt Au, >200 gpt Ag; 0.2 gpt Au, 172 gpt Ag; 0.5 gpt Au, 140 gpt Ag at the Caracahui zone.  

ON MINING

  • Americas Gold and Silver Corp. started to recall its workers to re-commence operations at its Cosalá operations in Sinaloa.
  • Starcore International Mines Ltd. reported results for the quarter ending July 31, 2021. During the period the San Martin mine in Queretaro milled 56.3 K tonnes @ 1.64 gpt Au, 20.9 gpt Ag, recovering 88.3% Au, 52.1% Ag to produce 2.6 K Oz Au, 19.8 K Oz Ag at cash cost 1,177 per Oz AuEq. Cash and short-term investments of $4.9 M at the end of July.
  • Mexus Gold US. completed the first substantial sale of gold produced at its Santa Elena mine in Sonora, with 76.5 Oz Au sold.
  • Tarachi Gold Corp. released metallurgical test results on samples from its Jabali project in Sonora. Three samples from drill core responded well to cyanide leaching, with an average of 94.8% Au, 48.5% Ag recoveries. “Further metallurgical investigation on representative samples is recommended to better optimize process conditions and determine sample variability.

ON FINANCING

  • SilverCrest Metals Inc. announced the company has been included in the Toronto Stock Exchange ‘s 2021 TSX30, a flagship program recognizing the 30 top performing TSX stocks s over a three-year period based on dividend-adjusted share price appreciation. In this period the shares of SilverCrest rose 286% (Las Chispas, Sonora).
  • Vizsla Silver Corp. announced the effective date for the spin-out of its British Columbia copper asset to Vizsla Copper Corp. is September 20, 2021 (Panuco, Sinaloa).

ON RESOURCES AND DEVELOPMENT

  • Argonaut Gold Inc. continues to encounter high-grade gold mineralization in three distinct veins below El Crestón pit at La Colorada, in Sonora. Highlighted core length intercepts comprise 38.1 m @ 9.10 gpt Au, 127 gpt Ag (including 4.6 m @ 51.9 gpt Au, 28 gpt Ag) in the South vein; 29.0 m @ 3.62 gpt Au, 10 gpt Ag (including 4.6 m @ 17.4 gpt Au, 29 gpt Ag) in the North vein; 22.9 m @ 6.7 gpt Au, 30 gpt Ag (including 1.5 m @ 90.0 gpt Au, 15 gpt Ag). “Drilling and mine operations have currently defined over 800 metres of strike length along the veins….” which remain open along strike and reach at least 250 m below the planned bottom of the pit. The company is evaluating the possibility of developing an underground mine at the site.
    • Impact Silver Corp. purchased a surface drill rig for exploration at its Royal Mines of Zacualpan project in Estado de Mexico. “This brings the total Company-owned drill fleet to two surface and two underground rigs”.  
    • Fabled Silver Gold Corp. presented results from three surface drill holes at its Santa Maria project in Chihuahua. All holes intercepted a series of sheeted veinlets and a diorite dike at depth that is thought to be the source of mineralization at depth. The first hole of this release intercepted up to 1.15 m @ 0.51 gpt Au, 26 gpt Ag; the second hole up to 0.40 m @ 0.84 gpt Au, 21, gpt Ag, 0.15% Pb, 0.15% Zn; the third hole up to 0.90 m @ 1.57 gpt Au, 122 gpt Ag, 3.7% Pb, 14.3% Zn, 0.14% Cu. Gold grades appear to increase with depth.
    • Hecla Mining Co. update on exploration at its projects, including San Sebastian in Durango. “Drilling completed in the El Bronco vein targeted gaps in the drill data. While we have had good vein widths and grades at the current level of drilling at El Bronco, continuity of grade has been challenging. Analysis of the geochemistry, vein phase stratigraphy, and vein textures all indicate that the current levels of drilling at both the El Bronco and El Tigre veins are high in the epithermal system”.
    • GoGold Resources Inc. released the results from eight drill holes from El Favor deposit at Los Ricos North project in Jalisco. Highlighted core length intercepts include: 16.3 m @ 0.05 gpt Au, 44 gpt Ag; 0.9 m @ 0.31 gpt Au, 233 gpt Ag; 68.7 m @ 0.12 gpt Au, 71 gpt Ag (including 3.2 m @ 0.88 gpt Au, 431 gpt Ag); 108.0 m @ 0.16 gpt Au, 47 gpt Ag (including 16.1 m @ 0.65 gpt Au, 153 gpt Ag); 73.7 m @ 0.26 gpt Au, 66 gpt Ag (including 2.5 m @ 1.32 gpt Au, 515 gpt Ag); 8.6 m @ 0.15 gpt Au, 67 gpt Ag; 58.8 m @ 0.28 gpt Au, 90 gpt Ag (including 4.8 m @ 1.71 gpt Au, 423 gpt Ag); 48.1 m @ 0.28 gpt Au, 83 gpt Ag (including 3.0 m @ 1.79 gpt Au, 219 gpt Ag); 43.7 m @ 0.17 gpt Au, 56 gpt Ag.
    • Sonoro Gold Corp. presented the results of a preliminary economic assessment (PEA) including an updated mineral resource estimate on Cerro Caliche in Sonora. The report envisages: An after-tax NPV (5%) of US$41.5 M with an IRR of 32.4% at US$1,750/Oz Au and US$22/Oz Ag; 7 years of Life of Mine (LOM) producing 325 K Oz AuEq, recovering 74% Au, 27% Ag with crushing to p80 of ½”; initial capex of US$32.2 M; All-In sustaining cost of US$1,462/Oz AuEq. The updated mineral resource estimate for the open pit operation is 26.7 M tonnes @ 0.41 gpt Au, 3.43 gpt Ag on measured and indicated resources and 5.4 M tonnes @ 0.40 gpt Au, 7.34 gpt Ag on inferred resources. The report also notes a range of potential mineralization of 19.2 to 34.4 M tonnes that could contain 204 to 365 K Oz Au, 1.7 to 3 M Oz Ag.
    • Golden Minerals Co. released assay results from 20 diamond drill holes and commenced a reverse circulation drill program for resource definition at its Rodeo mine in Durango.  Here some of the highlighted intervals: 78.7 m @ 1.06 gpt Au, 10 gpt Ag (including 13.9 m @ 2.88 gpt Au, 4 gpt Ag); 70.0 m @ 0.56 gpt Au, 6 gpt Ag (including 14.2 m @ 1.07 gpt Au, 15 gpt Ag); 64.4 m @ 0.85 gpt Au, 9 gpt Ag; 26.0 m @ 0.82 gpt Au, 6 gpt Ag; 16.8 m @ 0.74 gpt Au, 7 gpt Ag; 29.1 m @ 0.58 gpt Au, 6 gpt Ag; 47.0 m @ 0.58 gpt Au, 3 gpt Ag; 27.5 m @ 0.64 gpt Au, 2 gpt Ag; 31.6 m @ 0.39 gpt Au; 34.6 m @ 0.73 gpt Au, 4 gpt Ag. “Drilling has intersected several wide zones of disseminated gold mineralization and has identified several additional high-grade zones that appear to be hosted in a series of silicified structures running parallel to the high-grade gold zones currently being mined”.

    ON DEALS AND CORPORATE ISSUES

    • Tocvan Ventures Corp. completed their due diligence process and executed the final agreement to acquire Millrock’s Resources option to acquire up to 100% interest in the 2,414 ha Picacho mining concessions in Sonora. Tocvan must make payments of US$1.99 M to the underlying private concession owners over a five-year term to acquire 100% interest.

    ON SOCIAL RESPONSIBILITY

    • Peña Colorada informed on works to benefit inhabitants of three communities in Colima.

    On the image below:  Bladed calcite replacement form a project in northern Sonora. Picture by Jorge Cirett.

    The Mining and Exploration News in Mexico: Highlights on the First Week of September, 2021

    By Jorge Cirett

    During the 34th week of the year (August 30th to September 5th, 2021), at least 21 press releases were announced by companies working in Mexico. To note, four companies posted exploration advances on their properties, four posted on mining or quarterly reports, seven on financing or shares and four more on project development or resource definition. ON MEXICO ISSUES, Camimex informed on direct and indirect employment generated by the mining industry. In 2020, Mexico was the top silver producer in the world. Sixty percent of foreign held mining projects are idle. Mexico is the ninth top producer of gold in the world, with 41.3 tonnes produced in 2020. ON EXPLORATION, in Chihuahua, Monarca Minerals completed the first two RC holes at San Jose. In Sinaloa, Vizsla Silver released results from 19 holes on the Naploleon area of the Panuco project. Durango, Canasil Resources released results from two diamond holes at Nora. In Guanajuato, Guanajuato Silver informed drilling continues at Pinguico.  ON MINING, Altaley Mining and Santacruz Silver reported second quarter 2021 results. Torex Gold released its multi-year production outlook for el Limon Guajes complex, aiming to produce 1.59 to 1.75 M Oz Au in 2021-2024. Guanajuato Silver commenced infill drilling at El Cubo. ON FINANCING, Prime Mining reported the exercise of warrants for C$9.5 M; Silver Spruce announced a financing round for up to $1 M; Mithril plans to raise up to A$3.3 M. Silver Wolf shares are now eligible for electronic clearing in the USA. SilverCrest completed the second scheduled drawdown of US$30 M. Candelaria Mining announced a non-brokered private placement for $7.8 M, on which Agnico Eagle subscribed for a $6 M consideration. ON RESOURCES AND DEVELOPMENT, Cheasapeake Gold filed a NI43-101 report on the Metates heap leach project. Zacatecas Silver is to commence drilling at Panuco. Sonora Gold reported surface assay results from Cerro Caliche. GR Silver Mining commenced 1,500 m of underground resource expansion drilling at San Marcial. ON DEALS AND CORPORATE ISSUES, No relevant news. ON SOCIAL RESPONSIBILITY, Torex Gold, Autlán, Industrias Peñoles, Fortuna Silver and Almaden Minerals informed on social responsibility actions by the companies on communities and society.

    ON MEXICO ISSUES

    • Camimex (Cámara Minera de México) informed that during the first half of 2021 the mining industry generated 40,895 new direct jobs and more than 2 million new indirect jobs, boasting salaries 36% higher than the national average.  Also, during 2020 the industry invested US$3,532 M (US$3.5 billion, in American notation) and is posed to invest further US$5,034 M (US$5 billion in American notation) in 2021 and a total of more than US$24,000 M (US$24 billion in American notation) in the next six years.  
    • Mexico was the top producer of silver in the world in 2020, with 5,541 tonnes, China and Peru stand in the second and third place producing 3,443 tonnes and 2,991 tonnes respectively.
    • There are 1,190 mining projects funded by foreign capital in Mexico, but 6 of each 10 are idle, regardless of the increase in metal prices. Of the 1,190 projects, 754 are idle, 307 in exploration, 78 in production, 43 in development and 8 have closed. One of the issues affecting the mining industry in Mexico is the fiscal load, with taxes on profit of 52.7%, same tax burden that in other countries is lower: USA 30.2%, Canada 34.6%, Chile 35.7%, Peru 39.9%.
    • Mexico is the ninth producer of gold in the world, tied with Uzbekistan. Gold production during the first half of 2021 was 41,325 kg, which is 30% higher than a year before. This is the first yearly increase in gold production since the historic high of 2015, when 60,325 kg were produced. Sonora produced 29.8% of the total amount, Zacatecas 18.8% and Chihuahua 16.1%. Five companies produced almost 60% of the total, Fresnillo PLC, Newmont (Peñasquito), Torex Gold, Agnico Eagle and Alamos Gold.

    ON EXPLORATION

    • Monarca Minerals Inc. informed on the completion of the first two drill holes at the San Jose project in Chihuahua. Both RC holes intersected endoskarn and exoskarn mineralization with pyrite and fine grained sulfides (probably galena and sphalerite) and local chalcopyrite. Both holes targeted geophysical anomalies.
    • Canasil Resources Inc. released results from the second and third holes of the 2021 drill program at Nora, in Durango. Highlighted true-width intervals comprise 7.18 m @ 2.05 gpt Au, 344 gpt Ag, 0.4% Pb, 0.8% Zn (including 1.87 m @ 4.42 gpt Au, 541 gpt Ag, 0.9% Pb, 1.9% Zn and 0.94 m @ 2.92 gpt Au, 766 gpt Ag, 1.0% Pb, 2.1% Zn); 0.94 m @ 5.91 gpt Au, 316 gpt Ag, 0.8% Pb, 1.7% Zn; 0.94 m @ 7.0 gpt Au, 279 gpt Ag; 0.94 m @ 2.13 gpt, 203 gpt Ag; 5.33 m @ 1.14 gpt Au, 157 gpt Ag (including 1.85 m @ 2.45 gpt Au, 284 gpt Ag); 1.36 m @ 1.30 gpt Au, 302 gpt Ag; 3.29 m @ 6.44 gpt Au, 884 gpt Ag, 0.2% Zn; 0.90 m @ 1.65 gpt Au, 431 gpt Ag, 0.1% Zn; 1.53 m @ 20.59 gpt Au, 1,290 gpt Ag, 0.1% Pb, 0.3% Zn; 2.71 m @ 2.76 gpt Au, 250 gpt Ag, 0.1% Zn. “Gold-silver mineralization is hosted within two structurally-controlled epithermal veins, Candy and Nora… The fault structure hosting the Candy vein has been traced for a distance of over 3 km…. The second vein, Nora, is found 600 metres northeast of the Candy vein and can be traced for 230 metres with widths of over 9.0 metres”.
    • Vizsla Silver Corp. released the results from 19 new holes targeting the Napoleon vein resource area at its Panuco project in Sinaloa. Highlighted true-width results comprise 1.46 m @ 10.74 gpt Au, 188 gpt Ag, 1.3% Pb, 3.5% Zn; 3.01 m @ 3.62 gpt Au, 40 gpt Ag, 0.8% Pb, 4.0% Zn; 3.40 m @ 3.10 gpt Au, 110 gpt Ag, 1.2% Pb, 1.1% Zn; 1.40 m @ 6.49 gpt Au, 114 gpt Ag, 0.8% Pb, 8.0% Zn; 5.93 m @ 11.35 gpt Au, 185 gpt Ag, 0.5% Pb, 2.2% Zn; 6.33 m @ 1.79 gpt Au, 52 gpt Ag, 0.2% Pb, 1.1% Zn. To date 105 holes on the Napoleon resource area define an average vein width of 3.5 m @ 3.11 gpt Au, 161 gpt Ag, 0.45% Pb, 1.3% Zn. A maiden resource estimate is planned for Q1 2022.
    • Guanajuato Silver Company Ltd. informed that drilling continues at El Pinguico project in Guanajuato.

    ON MINING

    • Altaley Mining Corp. released its financial and operating results for Q2 2021. At Campo Morado, Guerrero, the company processed 164 K tonnes at 1,803 tonnes per day, grading 4.5% Zn, 0.34% Cu, 129 gpt Ag, 1.16 gpt Au, recovering 74% Zn, 31% Pb, at cash cost $0.48per Lb Zn and an AISC of $0.77 per Lb Zn.
    • Santacruz Silver Mining Ltd. reported its financial and operating results for the second quarter 2021. The company operating the Zimapan and Rosario mines in Hidalgo and San Lusi Potosi respectively, processed 172.3 K tonnes to produce 799 K Oz Ag at cash cost $55.48 per tonne, cash cost $19.87 per Oz Ag, an AISC of $23.74 per Oz Ag. Revenue increased to $13.7 M and gross profits to $3.8 M.
    • Torex Gold Resources Inc. informed on the multi-year outlook for production at its El Limon Guajes mining complex in Guerrero. Torex plans to produce at El Limon Guajes 430-470 K Oz Au in 2021, 430-470 K Oz Au in 2021, 400-450 K Oz Au in 2023 and 330-350 K Oz Au in 2024 (1.59-1.74 M Oz Au, total). “The current production outlook assumes production from the ELG open pits through mid-2024, and stable production from the ELG Underground through to at least the end of 2024 and likely longer based on exploration results”.
    • Guanajuato Silver Company Ltd. announced that infill and expansion drilling has commenced at its El Cubo mine in Guanajuato.

    ON FINANCING

    • Prime Mining Corp.  reports the exercising of warrants for gross proceeds of C$9.52 M, resulting in a cash position of C$31.9 M. “From the 15,000 metre (“m”) Phase 1 diamond drill program at Los Reyes completed in June 2021, 29 unreported holes are expected to be released in the coming weeks” (Los Reyes, Sinaloa).
    • Silver Wolf Exploration Ltd. announced its shares are now eligible for electronic clearing and settlement in the United States (Ana Maria, Durango).
    • SilverCrest Metals Inc. announced the completion of the second scheduled drawdown of US$30 M on its previously announced US$120 Million project financing facility with an affiliate of RK Mine Finance (Las Chispas, Sonora).
    • Silver Spruce Resources Inc. announced a private placement to gather up to $1 M (El Mezquite, Sonora).
    • Candelaria Mining Corp. announced a non-brokered private placement geared to raise up to $7.8 M in gross proceeds (Caballo Blanco, Veracruz).
    • Agnico Eagle Mines Ltd. is subscribing 13.333 M units of Candelaria Mining Corp., for a total consideration of $6 M. On closing of the private placement, Agnico is to own 15.94% of the issued and outstanding shares of Candelaria (Pinos Altos, Chihuahua).
    • Mithril Resources Ltd. Is planning to raise up to A$3.3 M through a share placement (Coplaquin, Durango).

    ON RESOURCES AND DEVELOPMENT

    • Chesapeake Gold Corp. filed a NI-43-101 technical report on the Metates sulfide heap leach project in Durango. The company has shipped selected drill core samples for metallurgical testing in Vancouver. “The Company will prioritize the intrusive and intrusive breccia portions of the Metates orebody with results of the testwork to be released on an ongoing basis. First results are expected in earlyQ1 2022”.
    • Zacatecas Silver Corp. informed drilling to commence at the Panuco deposit and San Gill breccia zone on its Zacatecas Silver project. The Phase One program is to include 10,000 m of drilling. “A total of three veins will be drilled — Panuco NW, Panuco Central and Tres Cruces — which remain open at depth and along strike. These are high-priority drill targets”.
    • Sonoro Gold Corp. reported assay results from surface sampling at its Cerro Caliche project in Sonora. “Surface rock samples were collected from several well-defined vein and gold mineralized structures by channel sampling perpendicular across measured veins and wall rocks with sample lengths ranging from 0.4 to 2.0 meters. Assay results from 17 samples returned grades between 2.5 and 14.3 grams of gold per tonne”. These assays are from extensions to significant structural corridors at the Buena Suerte and El Colorado zones.
    • GR Silver Mining Ltd. commenced the initial 1,500 m underground resource expansion diamond drill program at San Marcial, in Sinaloa. The program will test down-dip and along strike extensions to the existing NI-43-101 resource and new targets defined by a recent geophysical program.

    ON DEALS AND CORPORATE ISSUES

    • No Relevant News.

    ON SOCIAL RESPONSIBILITY

    • Minera Media Luna (Torex Gold) informed on medical supplies to some communities in Guerrero.
    • Autlán received for second consecutive year the Ethics and Values award granted by CONCAMIN (Confederación de Cámaras Industriales).
    • Peñoles received the Ethics and Values, and the Health and Wellbeing awards granted by CONCAMIN (Confederación de Cámaras Industriales).
    • Minera Cuzcatlán (Fortuna Silver) informed on aid to local communities near its San José mine in Oaxaca.
    • Fresnillo and Industrias Peñoles informed on aid to communities and organizations thorough the country.
    • Minera Gorrión (Alamaden Minerals informed on the way it is letting the communities know about its current drilling program in Puebla.

    On the image below:  Low sulfidation epithermal quartz veining from a project in northern Sonora. Picture by Jorge Cirett.

    The Mining and Exploration News in Mexico: Highlights on the Third Week of August, 2021

    By Jorge Cirett

    During the 33rd week of the year (August 16th to August 22nd, 2021), at least 22 press releases were announced by companies working in Mexico. To note, four companies posted exploration advances on their properties, four posted on mining/quarterly reports, two on mining issues, four on financing or shares  and five more on project development or resource definition and one more on a property acquisition. ON MEXICO ISSUES, No relevant news. ON EXPLORATION, in Sonora, Aloro Mining informed on continuation of drilling at Los Venados. In Chihuahua, Radius Gold announced one more drilling campaign at Amalia. In Sinaloa, Vizsla Silver updated on exploration at Panuco. In Nayarit, Xali Gold submitted drilling applications for El Dorado.    ON MINING, Americas Gold and Silver, Prime Mining, First Majestic Silver, and Impact Silver presented second quarter 2021 reports. Mexus Gold shipped its first activated carbon. Gold Resource halted activities due to increase in COVID cases among its workforce. ON FINANCING, Candelaria Mining will not complete the proposed private placement. Galore Resources is to extend the expiry date of some warrants. Kootenay Silver is to spin-out its Canadian assets into another company. Magna Gold closed the previously announced private placement for C$10 M. ON RESOURCES AND DEVELOPMENT, Sierra Metals announced a 10,000 tpd PEA for its Bolivar mine in Chihuahua. Fabled Silver Gold released more results from drilling at Santa Maria. Excellon Resources released high grade Ag-Pb-Zn drilling results from Platosa. GoGold Resources informed on results of drilling at the Casados deposit at Los Ricos project. Sonoro Gold reported results of metallurgical tests at Cerro Caliche.  ON DEALS AND CORPORATE ISSUES, Starcore International Mines acquired the Tecouitla claims in Sonora. ON SOCIAL RESPONSIBILITY, No relevant news.

    ON MEXICO ISSUES

    • No relevant news.

    ON EXPLORATION

    • Xali Gold Corp. informed exploration permit applications have been submitted for El Dorado project in Nayarit. The plus 2,000 m program envisaged will test potential lateral extensions to high-grade zones to better define plunging mineralization shoots, and collection of a bulk sample from El Hundido mine.
    • Radius Gold Inc. announced that the phase five drilling campaign has commenced at its Amalia project in Chihuahua. Pan American Silver Corp., the project operator plans to deploy a second rig to test El Cuervo target.
    • Aloro Mining Corp. informed that Alamos Gold Inc. is to resume the reconnaissance drill program on the Los Venados claims in Sonora. Alamos has already exceeded its first year exploration commitment; the current program is focused on outcropping low sulfidation epithermal mineralization.
    • Vizsla Silver Corp. provided an update on its Panuco project in Sinaloa. Due to the current rise in Covid cases in Sinaloa, Vizsla will keep the current pause in activities at the property until the end of the month, and then gradually increase activities through September. Resource drilling is being done at Napoleon (950 x 350 m area) and Tajitos (550 m x 300 m area), exploration drilling is testing the Napoleon, Cinco Señores, Cordon de Oro and Animas Corridors. Preliminary metallurgical testing is being done on Napoleon vein material, and geotechnical and hydrogeological studies are being conducted. Drilling programmed for the remainder of 2021 comprises 35,000 m.  

    ON MINING

    • Americas Gold and Silver Corp. reported second quarter 2021 consolidated financial and operational results. For Mexico, the company reported that it “signed an agreement with the Mexican Ministries of Economy, Interior and Labour along with union representatives committing to a re‐opening at the Cosalá Operations.    The agreement contemplates immediate right to possession of the property with joint inspections coordinated by the Ministry of Labor, so that the mine and mill can re‐start operations in a safe and sustainable manner”. (Note from writer. – The mine was paralyzed by a dispute between two unions over a year ago, with strong political connotations).
    • Prime Mining Corp. reported its operational and financial results for the fourth quarter of fiscal year 2021, end in April 2021. During April the company completed a private placement for gross proceeds of CAN$28.75 M. Also in the period, drilling at Los Reyes in Sinaloa intersected up to 20.1 m @ 3.25 gpt Au, 389 gpt Ag, 3.8 m @ 3.69 gpt Au, 305 gpt Ag, 4.5 m @ 8.95 gpt Au, 74 gpt Ag; 18.7 m @ 1.96 gpt Au, 63 gpt Ag; 39.0 m @ 0.7 gpt Au, 29 gpt Ag. Cash at the end of the period stood at Can$32 M.
    • First Majestic Silver Corp. announced the consolidated financial results for the second quarter 2021. During the period the company processed 826.2 K tonnes, to produce 3.27 M Oz Ag, or 6.43 Oz AgEq at $13.89 per Oz AgEq and an AISC of $19.42 per Oz AgEq. In Mexico, the production came from San Dimas, in Durango, La Encantada, in Coahuila, and Santa Elena, in Sonora.
    • Mexus Gold US. confirmed the first shipment of activated carbon from its Santa Elena mining operation in Sonora (Not to mistake with First Majestic’s Santa Elena mine, also in Sonora).
    • Gold Resource Corp. informed that as result of a steep climb in COVID-19 infections, the company is reducing its activities at the Don David mine in Oaxaca. The measure is to last for at least ten days. “The operations will continue with those employees and contractors who have agreed to stay in the camp for periods longer than the usual rotation to create a bubble”.
    • Impact Silver Corp. announced its financial and operational results for the second quarter 2021. The cash balance at the end of the quarter was $22.4 M. The mill processed 37.8 K tonnes @ 147 gpt Ag to produce 150.3 K Oz Ag. Some results of its ongoing 10,000 m drilling campaign include 9.8 m @ 211 gpt Ag and 13.85 m @ 186 gpt Ag.

    ON FINANCING

    • Candelaria Mining Corp. informed that the company will not be proceeding with the proposed brokered private placement previously announced (Pinos, Zacatecas, Guerrero).
    • Galore Resources Inc. proposed to extend the expiry date of 5.6 M share purchase warrants from September 2021 to September 2024 (Dos Santos, Zacatecas).
    • Kootenay Silver Inc. board approved a spin-out of 80% of its Canadian exploration assets. Once the arrangement becomes effective, Kootenay shareholders will own shares in two public companies, one focusing in Mexico and the other in Canada (Columba, Chihuahua).
    • Magna Gold Corp. closed the previously announced private placement of C$10 M convertible debentures (San Francisco, Sonora).

    ON RESOURCES AND DEVELOPMENT

    • Sierra Metals Inc. announced a 10 K tonnes per day positive preliminary economic assessment (PEA) to include iron ore production at its Bolivar mine in Chihuahua. The report envisages an updated after-tax net present value (NPV) of US$361 M at an 8% discount rate, an IRR of 27.9%, net after-tax cash flow of US$650 M with a life of mine (LOM) copper grade of 0.72% and iron ore at 13.5%, an operating cost of US$25.62/tonne and US$1.50 per Lb CuEq, to produce 55 M Lb Cu in 14 years. Current indicated resources stand at 19.4 M tonnes @ 0.77% Cu, 15.1 gpt Ag, 0.21 gpt Au, 13.8% Fe, containing 149.1 K tonnes Cu, 9.4 M Oz Ag, 127.8 K Oz Au, and inferred resources at 21.4 M tonnes @ 0.78% Cu, 14.2 gpt Ag, 0.21 gpt Au, containing 167.1 K tonnes Cu, 9.8 M Oz Ag, 145.6 K Oz Au.
    • Fabled Silver Gold Corp. announced more results from surface drilling at its Santa Maria project in Chihuahua. Highlighted core length intervals comprise 0.85 m @ 0.98 gpt Au, 10 gpt Ag; 0.80 m @ 0.09 gpt Au, 63 gpt Ag, 0.3% Pb, 0.6% Zn; 20.10 m @ 0.18 gpt Au, 35 gpt Ag, 1.1% Pb, 0.7% Zn, 0.09% Cu (including 5.90 m @ 0.30 gpt Au, 97 gpt Ag, 3.3% Pb, 1.5% Zn, 0.25% Cu).
    • Excellon Resources Inc. released results from underground drilling at Platosa, in Durango. Some of the highlighted core length intervals: 3.0 m @ 227 gpt Ag, 2.3% Pb, 2.0% Zn, 0.1 gpt Au; 1.3 m @ 360 gpt Ag, 10.1% Pb, 10.2% Zn; 1.3 m @ 692 gpt Ag, 9.3% Pb, 6.3% Zn; 1.2 m @ 544 gpt Ag, 5.9% Pb, 3.9% Zn; 1.6 m @ 1,647 gpt Ag, 12.3% Pb, 11.6% Zn, 0.1gpt Au; 5.2 m @ 1,051 gpt Ag, 12.1% Pb, 13.1% Zn, 0.2 gpt Au (including 2.3 m @ 1,985 gpt Ag, 22.8% Pb, 17.2% Zn); 2.5 m @ 784 gpt Ag, 7.7% Pb, 13.9% Zn, 0.3 gpt Au; 3.1 m @ 581 gpt Ag, 5.7% Pb, 11.4% Zn, 0.1 gpt Au; 1.4 m @ 1,050 gpt Ag, 3.4 % Pb, 2.0% Zn; 3.1 m @ 289 gpt Ag, 2.2% Pb, 3.7% Zn. “Drilling from underground continues to define and expand known mineralization ahead of production at the 623, NE-1 and NE-1S Mantos. Most significantly, drilling into the 623 and NE-1 Mantos continues to improve understanding and confidence, and extend mineralization in these areas”.
    • GoGold Resources Inc. informed on results from seven drill holes at the Casados deposit at the Los Ricos North project in Jalisco. Highlighted core length intervals: 19.0 m @ 0.54 gpt Au, 131 gpt Ag (including 1.3 m @ 5.16 gpt Au, 1,319 gpt Ag); 9.5 m @ 0.50 gpt Au, 233 gpt Ag; 41.6 m @ 1.25 gpt Au, 218 gpt Ag (including 8.9 m @ 4.71 gpt Au, 698 gpt Ag); 19.2 m @ 0.53 gpt Au, 185 gpt Ag (including 8.5 m @ 1.14 gpt Au, 594 gpt Ag); 8.2 m @ 0.26 gpt Au, 82 gpt Ag. “The Casados Veins strike nearly E-W, dips 45o to the north and is hosted in andesitic tuffs and is exposed on surface for about 400 metres along strike…… A zone of silicification up to 50 metres wide envelopes the vein and this resistant outcrop forms a steep ridge along the strike of the vein, particularly on the north or hanging wall side”.
    • Sonoro Gold Corp. reported results from metallurgical tests on mineralized material from Cerro Caliche in Sonora. The column metallurgical test returned an average of 74% recovery of gold for the 80% minus 12.5 mm feed material. The 4.7 tonnes sample was obtained from ten PQ (8.5 cm diameter) holes totaling 428 lineal meters. Little to no sulfur and organic carbon were observed on the testing. “There were no obvious variations in gold recovery related to ore zone or material type (vein breccia vs. stock work)”.

    ON DEALS AND CORPORATE ISSUES

    • Starcore International Mines Ltd. informed on the acquisition of the 3,088 hectares Tecoutila claims from Minera Tecouitla, S.A. de C.V.. Previous exploration in the property reported nine veins with lengths of up to 2.1 Km, widths of 0.5 to 1.1 m and grades of up to 10.30 gpt Au, 241 gpt Ag.

    ON SOCIAL RESPONSIBILITY

    • No relevant news.

    On the image below:  Workings and vein trace on a project in northern Sonora. Picture by Jorge Cirett.

    The Mining and Exploration News in Mexico: Highlights on the First Week of August, 2021

    By Jorge Cirett

    During the 31st week of the year (August 2nd to August 8th, 2021), at least 34 press releases were announced by companies working in Mexico. To note, seven companies posted exploration advances on their properties, twelve posted on mining/quarterly reports and eight more on project development or resource definition. ON MEXICO ISSUES, No relevant news. ON EXPLORATION, in Sonora, Aztec Minerals informed on soil sampling results at Cervantes; Canuc released information on current drilling at San Javier; Silver Spruce completed a 2,485 m RC drill program at El Mezquite. In Chihuahua, Monarca Minerals obtained the drill permit for San José. In Sinaloa, Brigadier Gold discovered silver rich copper mineralization associated to a porphyritic intrusive. In Durango, Silver Wolf Exploration informed on mapping and sampling at Ana Maria. In Oaxaca, Madoro Metals informed on skarn mineralization sampling at Yautepec.    ON MINING, Excellon Resources, Starcore International, Consolidated Zinc, McEwen Mining, Equinox Gold, Torex Gold, Golden Minerals and Great Panther Mining presented quarterly reports. Equinox Gold reported the end of the illegal blockade at Los Filos. Altaley initiated a metallurgical testing program at Campo Morado. Avino Silver announced the re-start of mining operations at Avino. Guanajuato Silver is stockpiling material from El Cubo mine. ON FINANCING, Altaley Mining informed there is no reason for the decline in its stock price. ON RESOURCES AND DEVELOPMENT, Fabled Silver released drilling results from Santa Maria. Orla Mining provided high-grade drill results from the Camino Rojo sulfide deposit. Orex Minerals informed on metallurgical results from Coneto. Prime Mining reported drilling results from Los Reyes. Defiance Silver released drill results from its Zacatecas project. Mexican Gold Mining announced a positive PEA on Las Minas. Discovery Silver released drill results from Cordero. Mag Silver reported results from 2020 drilling at Juanicipio.  ON DEALS AND CORPORATE ISSUES, No relevant news. ON SOCIAL RESPONSIBILITY, No relevant news.

    ON MEXICO ISSUES

    • No relevant news.

    ON EXPLORATION

    • Silver Wolf Exploration Ltd. informed on exploration at its 2,549 hectares Ana Maria project in Durango. Four field geologists and a consulting senior geologist are working in the property, mapping and collecting 290 rock chip samples to date. Hyperspectral and lidar drone surveys have been carried out, and an IP geophysical program is being planned. 
    • Madoro Metals Corp. provided an update on exploration on the southern portion of the Yautepec property in Oaxaca. Skarn mineralization has returned up to 1,200 gpt Ag, 4.0% Cu, 20.0% Pb, 5.0% Zn, 45 ppm Mo, 2.74% As, 1,620 ppm Ba, 1.4 ppm Hg, 285 ppm Sb. “The skarn-hornfels complex lies just outside of the recently mapped southwestern margin of the Yautepec caldera …….. The area lies 13 kilometers distant from similar polymetallic Ag-base metal mineralization found along the eastern caldera margin at the historically identified Las Minas area”.
    • Aztec Minerals Corp. updated on exploration at its 3,649 hectares Cervantes property in Sonora. A 477-soil sample program was completed in a 100 by 100 meters grid covering 518 ha; additionally 110 rock chip samples were collected. The soil sampling returned up to 3,605 ppb Au, 1,380 ppm Cu and 52 ppm Mo, whereas the rock chip samples returned up to 21.3 ppm Au, 2,300 ppm Cu, 625 ppm Mo. The soil sampling completed in this program elevates the total covered by such a survey to 1,200 ha, or 35% of the project area.
    • Brigadier Gold Ltd. informed on a silver-rich copper discovery at its Picachos project in Sinaloa. A 110 m trench dug in the Las Colinas prospect returned results of 9.0 m @ 135 gpt Ag, 0.05 gpt Au, 0.2% Cu, 0.3% Pb, 0.1% Bi, 47 ppm W (including 2 m @ 478 gpt Ag, 0.08 gpt Au, 0.2% Cu, 0.5% Pb, 0.3% Bi). “The significance of this geological finding is that these mineralized porphyritic apophyses with associated copper and other metals may expand at depth and intensify”.
    • Canuc Resources Corp. informed on exploration advances at its San Javier project in Sonora. A drill hole targeting a magnetic high encountered massive magnetite at 343 m of depth, and is still on it at 380 m. Sphalerite, marmatite and chalcopyrite have been identified in stringers during preliminary logging, and are to be sampled. Six high-grade silver samples were sent for mineralogical studies, with most of the silver minerals consisting of halides (AgCl, AgBr, AgI, AgF) and acanthite.
    • Silver Spruce Resources Inc. announced the completion of the phase 1 reverse circulation drilling at El Mezquite in Sonora. A total of 2,485 m were drilled in twenty holes on a 400 by 600 m area. “Collars were defined by several northeast-trending veins, structural lineaments and oxide/sulphide transitions interpreted from geological mapping, precious metal assays, multi-element geochemistry, epithermal alteration assemblages and coincident 3D IP chargeability anomalies”.
    • Monarca Minerals Inc. obtained the environmental permit (Informe Preventivo) to complete its planned 5,000 m drill program at its San José project in Chihuahua. Drilling is expected to commence within the next four weeks.

    ON MINING

    • Excellon Resources Inc. reported second quarter 2012 financial results. During the period 21.8 K tonnes were mined, 21.6 K tonnes milled at La Platosa, Durango, averaging 489 gpt Ag, 5.14% Pb, 6.48% Zn, recovering 87.0% Ag, 78.6% Pb, 79.4% Zn, to produce 296 K Oz Ag, 1.93 M Lb Pb, 2.46 M Lb Zn, or 489 K Oz AgEq. Cash cost was $11.96 per Ag Oz and AISC  $26.69 per Ag Oz.
    • Starcore International Mines Ltd. filed the results for the year ended April 30, 2021. During the year the San Martin mine in Queretaro milled 225.5 K tonnes @ 1.63 gpt Au, 24.7 gpt Ag, recovering 87.3% Au, 57.5% Ag, to produce 10.5 K Oz Au, 103.4 K Oz Ag, or 11.8 K Oz AuEq. The mine operating cash cost per AuEq Oz was US$1,056.
    • Consolidated Zinc Ltd. presented its quarterly activities report. Commercial production commenced at the refurbished Plomosas plant in Chihuahua, with 8,655 tonnes mined, 9,079 tonnes processed @ 15.1% Zn, 7.4% Pb, 54 gpt Ag, with recoveries of 52.5% Zn, 41.2% Pb.
    • Equinox Gold Corp. reported that the illegal community blockade at its Los Filos mine in Guerrero has been removed, and regular operations resumed on all areas.
    • Altaley Mining Corp. initiated a metallurgical testing program to increase base and precious metals recoveries at its Campo Morado mine in Guerrero. Testing by the previous operator in 2013 achieved 45-65% Au and 75-81% Ag, while current recoveries are 20% Au, 40% Ag. “The Leachox process is a partial sulphide oxidation process for the recovery of gold and silver from sulphide minerals….. but central to the Leachox process is the Aachen shear reactor. In the leach process, it enhances the kinetics and reduces reagent consumptions (oxygen, cyanide, and lime) which otherwise can be prohibitive”.
    • Avino Silver & Gold Mines Ltd. announced mining operations restarted at its Avino mine in Durango. “Management expects throughput at the mill will ramp-up quickly to levels prior to shut down. In addition, we are infill-drilling the oxide tailings resource that sits within our tailings storage facility, as well as continuing the previously reported exploration drill program”.
    • McEwen Mining Inc. reported its second quarter 2021 results, including figures from its operations in Mexico. At El Gallo, in Sinaloa, residual leaching produced 1,300 AuEq Oz from the leach pad. “The residual leaching activities at El Gallo are expected to wind down in early 2022”.
    • Equinox Gold Corp. delivered its second quarter 2021 financial and operating results, including information from its Mexican operations. During the period the acquisition of Premier Gold Mines Ltd. taking 100% control of the Mercedes mine in Sonora. Its updated production guidance for 2021 includes 120-140 K Oz Au from Los Filos and 30-35 K Oz Au from Mercedes, at cash cost of $1,590-$1,660 and $750-$800 respectively. “The primary change to gold production guidance is from Los Filos, where illegal blockades during the quarter disrupted mining activities and delayed access to higher-grade ore”. Production guidance was reduced by 50 K Oz Au due to these illegal blockades.
    • Torex Gold Resources Inc. reported financial and operational results for the second quarter 2021. During the period 118,054 Oz Au were produced, generating free cash flow of $21.9 M, taking the net cash to $191.5 M. The new mineral resource update of 3.54 M Oz AuEq at 5.27 gpt Au on indicated resources for Media Luna was released past June. The expansion of the open pit at El Limón was approved and is expected to result in the increase of 150 K Oz Au in additional production, providing a smoother transition to the Media Luna deposit mining. The Media Luna feasibility study is to contemplate a conventional mining basis, although a smaller satellite deposit could be developed with the proprietary Muckahi mining system.
    • Golden Minerals Co. provided financial results for the second quarter 2021. The company obtained a $2.5 M net operating margin related to the Rodeo mine operations in Durango., where 3,634 Oz Au were produced. The mill in Velardeña processed the Rodeo ore at a rate of greater than 500 tpd during May and June. Cash and cash equivalents were $6.9 M by the end of the quarter.
    • Great Panther Mining Ltd. announced consolidated financial results for the second quarter 2021, including figures from its Mexican operations. A total of 56 K tonnes were milled in Mexico averaging 327 gpt AgEq.
    • Guanajuato Silver Company Ltd. is stockpiling ore from El Cubo mine in Guanajuato in advance of the recommencement of operations at El Cubo mill. The mineralized material is coming from the 2175, 1850 and Cebolletas stopes, which are summarized as the Villalpando stopes, same that will provide most of the material for the operation of the plant in the immediate future.

    ON FINANCING

    • Altaley Mining Corp. advised there is no operational or financial reason for the decline in its stock price (Campo Morado, Guerrero).

    ON RESOURCES AND DEVELOPMENT

    • Fabled Silver Gold Corp. released drilling results from its Santa María Project in Chihuahua. Highlighted core length results comprise 9.0 m @ 0.10 gpt Au, 50 gpt Ag; 1.50 m @ 0.06 gpt Au, 144 gpt Ag; 5.40 m @ 0.41 gpt Au, 29 gpt Ag; 2.20 m @ 0.11 gpt Au, 122 gpt Ag; 3.70 m @ 0.18 gpt Au, 26 gpt Ag; 2.90 m @ 0.06 gpt Au, 93 gpt Ag (including 1.15 m @ 0.07 gpt Au, 191 gpt Ag). New underground drilling stations are being planned to better define the structures.
    • Orla Mining Ltd. provided results of oriented in-fill core drilling at its Camino Rojo sulfide deposit in Zacatecas. Highlighted core length intervals in the press release comprise 108.0 m @ 2.38 gpt Au; 111.0 m @ 2.63 gpt Au; 58.5 m @ 2.51 gpt Au; 115.5 m @ 2.11 gpt Au; 64.6 m @ 3.04 gpt Au; 55.5 m @ 4.47 gpt Au; 55.5 m @ 4.95 gpt Au; 58.5 m @ 2.10 gpt Au; 87.0 m @ 2.27 gpt Au; 44.7 m @ 3.26 gpt Au. “The drill results confirm the presence of wide, higher-grade gold zones within the sulphide mineral resource, and the Company intends to further explore the potential for open pit or underground bulk mining methods”.
    • Orex Minerals Inc. informed its joint venture partner (55%) Fresnillo PLC has received metallurgical testing results for the Coneto project in Durango. Recoveries in seven zones with head grades of 0.80-3.00 gpt Au, 9-229 gpt Ag averaged 66.1 to 98.5% Au and 72.9 to 92.3% Ag.
    • Prime Mining Corp. reported drill results from six holes collared on San Miguel East, at its Los Reyes project in Sinaloa. Highlighted true width (tw) intervals comprise 7.5 m @ 2.50 gpt Au, 118 gpt Ag (including 3.4 m @ 4.57 gpt Au, 140 gpt Ag); 15.0 m @ 1.02 gpt Au, 51 gpt Ag (including 3.0 m @ 4.11 gpt Au, 13 gpt Ag); 1.4 m @ 1.59 gpt Au, 5 gpt Ag; 5.6 m @ 0.82 gpt Au, 7 gpt Ag; 0.7 m @ 1.55 gpt Au; 3.8 m @ 1.58 gpt Au, 14 gpt Ag, 1.4 m @ 1.18 gpt Au, 42 gpt Ag. “Discovery of the Fresnillo structure within San Miguel East’s current and expanding open-pit boundary is favorable and will reduce the stripping ratio of waste rock. Results from our initial drilling at Las Primas are early stage and very promising with the potential to add another deposit within the area of our existing eight deposits”.
    • Defiance Silver Corp. released drill results from its Zacatecas project in Zacatecas. Highlighted core-length results comprise 3.15 m @ 0.09 gpt Au, 118 gpt Ag, 0.2% Zn (including 1.25 m @ 0.20 gpt Au, 254 gpt Ag); 2.22 m @ 0.01 gpt Au, 138 gpt Ag; 16.47 m @ 0.17 gpt Au, 106 gpt Ag, 0.3% Zn (including 8.28 m @ 0.17 gpt Au, 166 gpt Ag, which in turn includes 4.55 m @ 0.12 gpt Au, 241 gpt Ag, 0.2% Zn).
    • Mexican Gold Mining Corp. announced a positive preliminary economic assessment (PEA) study for its Las Minas project in Veracruz. A new mineral resource estimate of 4.13 M tonnes @ 1.96 gpt Au, 4.6 gpt Ag, 1.08% Cu, 14.8% Magnetite in indicated resources and 5.20 M tonnes @ 1. 44 gpt Au, 6.0 gpt Ag, 0.95% Cu, 17.5% Magnetite in inferred resources, containing 443 K AuEq Oz and 361 K AuEq Oz respectively, with the estimated recoveries of 80% Au, 70% Ag, 90% Cu, 90% Magnetite. The PEA envisages an 8.5-year mine life with cash cost of $786 per AuEq Oz and an AISC of US$928 per AuEq Oz.
    • Discovery Silver Corp. released results from 21 diamond drill holes at its Cordero project in Chihuahua. Highlighted core length intercepts comprise 132.6 m @ 78 gpt Ag, 0.11 gpt Au, 1.7% Pb, 2.8% Zn, or 260 gpt AgEq (including 46.3 m @ 110 gpt Ag, 0.10 gpt Au, 2.4% Pb, 5.9% Zn; 77.1 m @ 55 gpt Ag, 0.12 gpt Au, 1.4% Pb, 1.8% Zn, or 190 gpt AgEq (including 19.6 m @ 137 gpt Ag, 0.25 gpt Au, 3.7% Pb, 3.2% Zn); 86.2 m @ 51 gpt Ag, 0.09 gpt Au, 1.2% Pb, 2.2% Zn or 192 gpt AgEq (including 36.5 m @ 97 gpt Ag, 0.16 gpt Au, 2.3% Pb, 4.3% Zn); 81.4 m @ 43 gpt Ag, 0.05 gpt Au, 0.9% Pb, 2.5% Zn, or 184 gpt AgEq (including 44.6 m @ 60 gpt Ag, 0.07 gpt Au, 1.3% Pb, 3.4% Zn). The upcoming resource estimate is to be released later this quarter.
    • Mag Silver Corp. reported results from 2020 drilling on the Juanicipio project (56%/44% Joint Venture between Fresnillo PLC and Mag Silver) in Zacatecas. Highlighted true width intercepts comprise 21.0 m @ 357 gpt Ag, 0.9 gpt Au, 1.6% Pb, 3.1% Zn, 0.2% Cu (including 6.1 m @ 1,023 gpt Ag, 1.6 gpt Au, 2.2% Pb, 1.7% Zn, 0.3% Cu); 18.1 m @ 198 gpt Ag, 3.9 gpt Au, 4.2% Pb, 10.0% Zn, 0.4% Cu in the Valdecañas Vein Deep Zone; 3.1 m @ 3,584 gpt Ag, 5.7 gpt Au, 0.5% Pb, 0.6% Zn; 5.2 m @ 1,356 gpt Ag, 3.3 gpt Au, 0.2% Pb, 0.2% Zn in the Valdecañas Vein Bonanza Zone; 10.3 m @ 112 gpt Ag, 0.6 gpt Au, 3.2% Pb, 6.2% Zn, 0.1% Cu; 7.6 m @ 101 gpt Ag, 2.4 gpt Au, 2.9% Pb, 3.5% Zn, 0.2% Cu in the Anticipada vein; 0.90 m @ 580 gpt Ag, 2.7 gpt Au in the Venadas vein; 1.9 m @ 607 gpt Ag, 9.8 gpt Au in the Valentina vein. A core length interval of 278.9 m @ 31 gpt Ag, 1.3% Zn, 0.1% Cu was obtained in the Skarn zone surrounding the Valdecañas Vein at depth.

    ON DEALS AND CORPORATE ISSUES

    • No relevant news.

    ON SOCIAL RESPONSIBILITY

    • No relevant news.

    On the image below:  Low sulfidation epithermal quartz vein from a project in northern Sonora. Picture by Jorge Cirett.

    The Mining and Exploration News in Mexico: Highlights on the Fourth Week of July, 2021

    By Jorge Cirett

    During the 29th week of the year (July 19th to July 25th, 2021), at least 19 press releases were announced by companies working in Mexico. To note, two companies posted exploration advances on their properties, two on quarterly reports and one in reopening plans, two on financing news, five more on project development or resource definition and two posted on deals or corporate issues. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Silver Spruce added a second rig to Drilling at El Diamante. In Chihuahua, Mammoth Resources informed on drill targeting at Tenoriba.  ON MINING, Fortuna Silver and Excellon Resources released Q2 2021 reports. Americas Gold and Silver updated on the re-opening plan at its Cosalá operations. ON FINANCING, Altaley Mining executed a 12 M loan agreement for the development of Tahuehueto. ON RESOURCES AND DEVELOPMENT, Mexican Gold Mining continues work on Cerro Las Minitas PEA. Sonoro Gold released results from surface rock chip sampling at Cerro Caliche. Southern Silver Exploration reported diamond drill results from Cerro Las Minitas. GoGold Resources released drilling results from Los Ricos North.  ON DEALS AND CORPORATE ISSUES, Sierra Madre Gold and Silver signed an option agreement on the acquisition of the La Tigra project in Nayarit. Vizsla Silver is to exercise the option to acquire 100% of the Panuco-Copala district in Sinaloa.  ON SOCIAL RESPONSIBILITY, Peñoles and Fresnillo PLC informed on the several projects that the companies provide for the education of young people on several areas of Mexico, especially in digital platforms. Conalep and the New Mexico Institute of Mining signed an agreement to enhance the learning of students across the borders.

    ON MEXICO ISSUES

    • No Relevant News.

    ON EXPLORATION

    • Mammoth Resources Corp. informed on drill targeting activities at Tenoriba, in Chihuahua. “The Company has extended drill targets an additional 1.7 kilometres (km), for a total of over 4.0 km from its previously announced initial 2.4 km of the 3-dimensional (3D) modelling of its infill, Induced Polarization/Magnetometer (IP/Mag) geophysical survey”. Work in the project by previous operators, Mammoth and Centerra includes over 6,000 soil samples, more than 750 rock chip samples, 151 m of surface channel samples, 26 diamond drill holes, IP and magnetic geophysical surveys, mapping, and spectral identification of alteration minerals.
    • Silver Spruce Resources Inc. is to continue its phase 1 reverse circulation drilling at El Mezquite in Sonora. Seven holes have been already completed, and a second rig has been added to the property to complete the 2,475 m of drilling. “The Phase 1 RC program comprises 20 holes with a combined depth of 2,475 metres (950 metres completed) and will utilize eight drill pad locations focused around a 400m x 600m area with elevated precious metal values to 3.41 g/t Au and 387 g/t Ag”.

    ON MINING

    • Fortuna Silver Mines Inc. reported production results for the second quarter 2021. At its San José mine in Oaxaca, 1.62 M Oz Ag, 10,266 Oz Au were produced from ore averaging 205 gpt Ag, 1.30 gpt Au. Production and cost guidance for 2021 is 5.8-6.5 M Oz Ag, 38-42 K Oz Au at an AISC of US$12.2-14.5 per Oz AgEq.
    • Excellon Resources Inc. announced Q2 2021 production results from its Platosa mine in Durango. A total of 21.8 K tonnes were mined, and 21.6 K tonnes were milled @ 489 gpt Ag, 5.14% Pb, 6.48% Zn, recovering 87.0% Ag, 78.6% Pb, 79.4% Zn, to produce 296 K Oz Ag, 1.93 M Lb Pb, 2.46 M Lb Zn.
    • Americas Gold and Silver Corp. provided an update on the re-opening plan of its Cosalá operations in Sinaloa. The Company and Government Labour inspectors jointly visited the mine and mill and both appear in good condition. “Mexican government inspectors from the Mexican Ministry of Labour will be in Cosalá this week to review the re‐start plans, which will allow the Company to begin recalling employees immediately following the completion of the inspection assuming compliance with the terms of the July 6, 2021 agreement“. The company expects the mine and the mill to be operating by the end of July, and the operation also has 70 K tonnes of ore stockpiled and ready to process.

    ON FINANCING

    • Altaley Mining Corp. executed a US$12 M loan facility agreement with Accendo Banco S.A. Institución de Banca Múltiple, to complete the final part of it’s previously announced US$25 M Accendo syndicate funding plan to complete the construction and ramp-up of its Tahuehueto project in Durango (Campo Morado, Guerrero).
    • Zacatecas Silver Corp. announced that its common shares are eligible for electronic clearing and settlement through the Depositary Trust Co. in the United States. “DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible” (Zacatecas Silver, Zacatecas).

    ON RESOURCES AND DEVELOPMENT

    • Mexican Gold Mining Corp. announced work continues to produce the PEA on its Las Minas project in Veracruz, within three weeks.
    • Sonoro Gold Corp. reported assay results from surface sampling at its Cerro Caliche property in Sonora. With 1,292 soil and rock samples collected, a 600 m southern extension and a 750 m extension were confirmed on the El Colorado-La Ventana and the Buena Suerte-San Quintin corridors, with 23.7 m @ 1.7 gpt Au (including 5.5 m @ 6.0 gpt Au) in the former and 52.6 m @ 0.2 gpt Au in the latter.
    • Southern Silver Exploration Corp. reported diamond hole drilling results from its Cerro Las Minitas project in Durango. Highlighted true width intervals comprise 1.4 m @ 719 gpt Ag, 14.2% Pb, 16.0% Zn; 0.4 m @ 541 gpt Ag, 0.1 gpt Au, 8.8% Pb, 4.0% Zn in the South Skarn target, and 0.5 m @ 452 gpt Ag, 0.5 gpt Au, 2.8% Pb, 0.6% Zn; 0.5 m @ 312 gpt Ag, 0.12 gpt Au, 2.8% Pb, 0.6% Zn in the Huizache chimney in the Mina La Bocona area. “Current modelling has identified three panels of mineralization at the South Skarn target, the largest of which can now be traced laterally for approximately 400 metres and up to 580 metres down-dip”.
    • GoGold Resources Inc. released results of eight diamond drill holes from El Orito area in the Los Ricos North project in Jalisco. Highlighted core length intervals comprise 41.2 m @ 10 gpt Ag, 0.01 gpt Au, 0.06% Cu, 0.3% Pb, 2.0% Zn; 33.3 m @ 19 gpt Ag, 0.03 gpt Au, 0.08% Cu, 1.1% Pb, 1.7% Zn; 13.0 m @ 30 gpt Ag, 0.02 gpt Au, 0.22% Cu, 0.3% Pb, 1.1% Zn; 3.0 m @ 19 gpt Ag, 0.02 gpt Au, 0.34% Cu, 1.3% Pb, 1.6% Zn; 18.0 m @ 51 gpt Ag, 0.09 gpt Au, 0.06% Cu, 0.4% Pb (including 1.9 m @ 230 gpt Ag, 0.34 gpt Au, 0.23% Cu, 1.0% Pb; 54.3 m @ 97 gpt Ag, 0.12 gpt Au, 0.70% Cu, 2.9% Pb, 5.4% Zn; 38.1 m @ 32 gpt Ag, 0.03 gpt Au, 0.17% Cu, 1.9% Pb, 2.7% Zn; 69.1 m @ 26 gpt Ag, 0.05 gpt Au, 0.14% Cu, 1.0% Pb, 1.6% Zn (including 4.0 m @ 149 gpt Ag, 0.25 gpt Au, 0.70% Cu, 3.2% Pb, 6.9% Zn). “The holes that the Company has drilled to date at El Orito have shown mineralization averaging approximately 30m in width for more than 700m in strike length and up to approximately 300m in vertical depth from surface and is open in all directions”.
    • Minera Alamos Inc. informed that its Santana project in Sonora continues to advance as programmed despite the above average rainfall to date in the area. The press release describes all the progress in leach solution systems, overliner placement, crushing and screening, grade procedures and mining.

    ON DEALS AND CORPORATE ISSUES

    • Sierra Madre Gold and Silver Ltd. Entered into a purchase agreement with an option to joint venture with Industrial Minera México S.A. de C.V. (IMMSA) for the 357 ha. La Tigra project in Nayarit, 150 km north of its flagship’s Tepic project. The agreement involves payment of US$1.5 M over three years, with Sierra Madre obliged to produce a 43-101 technical report before the end of the period. IMMSA holds a 2.5% NSR royalty of which Sierra Madre can acquire 1.5% for US$1.5 M.
    • Vizsla Silver Corp. signed a binding agreement with Minera Rio Panuco S.A. de C.V. and executed a binding option exercise notice with Silverstone Resources which together constitute the acceleration and exercise of the option to acquire 100% of the Panuco-Copala district in Sinaloa. Vizsla has to pay $US4.25 M upon signing, issue US$12 M in Vizsla shares before August 10, 2021; and make a cash payment of $US6.1 M before February 2022.

    ON SOCIAL RESPONSIBILITY

    • Peñoles and Fresnillo PLC  informed on the several projects that the companies support provide for the education of young people on several areas of Mexico, especially in digital platforms.
    • Conalep (Colegio Nacional de Estudios Profesionales y Tecnicos) and the New Mexico Institute of Mining and Technology signed an agreement to enhance the learning of Mexican and American students.

    On the image below:  Intense quartz veining in a granitic intrusive rock in Sinaloa. Picture by Jorge Cirett.

    The Mining and Exploration News in Mexico: Highlights on the Second Week of July, 2021

    By Jorge Cirett

    During the 27th week of the year (July 5th to July 11th, 2021), at least 22 press releases were announced by companies working in Mexico. To note, six companies posted exploration advances on their properties, four on quarterly production and one about the end of an illegal blockade 17 months long, one posted on financing, five more on project development or resource definition and one posted an update on a law suite. ON MEXICO ISSUES, the illegal blockade on Americas Gold and Silver Cosalá operations in Sinaloa was terminated. Mexico has fallen 13 places on the Fraser’s Index on Mining Attractiveness, affected by perceptions on security and rule of law. ON EXPLORATION, in Sonora, Benjamin Hill Mining released surface assay results high in Cu and Au; Tocvan Ventures released results from RC drilling at Pilar. In Sinaloa, Brigadier Gold released drilling and underground sampling results from Picachos. In Durango, Canasil started drilling at Nora. In Zacatecas, Zacatecas Silver signed surface access agreements to the San Gill zone at its Zacatecas Silver project. In Oaxaca, Madoro Metals updated on exploration at Yautepec. ON MINING, GoGold Resources, Gatos Silver, Endeavour Silver and Torex Gold presented second quarter 2021 production results. Americas Gold and Silver signed an agreement with several ministries to reopen Its Cosalá operations in Sinaloa.  ON FINANCING, Gold79 Mines commenced trading on the OTCQB Venture Market in USA. Minaurum Gold closed a financing round for C$9.2 M. ON RESOURCES AND DEVELOPMENT, Southern Silver released drilling results from Cerro Las Minitas in Durango. GR Silver Mining, reported drill hole results from Plomosas in Sinaloa. Capitan Mining reported RC holes results from Peñoles, Durango. Guanajuato Silver provided drilling results from Pinguico, Guanajuato. Fabled Silver reported underground drilling results from Santa Maria, Chihuahua. ON DEALS AND CORPORATE ISSUES, Excellon Resources informed on a legal suite regarding the Miguel Auza mine in Zacatecas. ON SOCIAL RESPONSIBILITY, Fresnillo PLC, Minera Autlán and Newmont Peñasquito informed on activities supporting sports, the environment and community equipment in different localities.

    ON MEXICO ISSUES

    • Mexico has fallen 13 places in the Fraser’s Index of Mining attractiveness from 2008 to 2020. Investment also saw a 42.8% reduction in the same period, including some effect by the pandemic. Security, labor regulations, political instability, lack of mining concessions and a nationalization streak in the current government were cited as deterrents to investment in the country. Those viewpoints are reflected in less investment, less employment and fewer opportunities to find new orebodies, factors that will lead to  reductions in production and taxes to be paid in the coming years.
    • The illegal blockade on Americas Gold and Silver Cosalá operations is off. After 17 months of illegal blockade, the negotiations aided by the federal government can hardly be called a success. Events like this one add to the deterioration on the global perception of Mexico as a good place for mining investment.
    • The AIMMGM (Asociación de Ingenieros de Minas, Metalurgista y Geólogos de México) stated through its president Sergio Almazán, that investment in the Mexican mining sector has been affect by the lack of certitude.

    ON EXPLORATION

    • Benjamin Hill Mining Corp. released assay results from surface sampling at the Caracahui, Caracahui Norte and Sonora Copper areas from its Sonora Gold property in Sonora. Some of the highlighted comprise: 0.1 gpt Au, 12.2% Cu, 80 gpt Ag; 1.7 gpt Au, 10.2% Cu, 15 gpt Ag; 4.4% Cu, 8 gpt Ag; 0.2 gpt Au, 4.3% Cu, 25 gpt Ag; 1.2 gpt Au, 2.4% Cu, 98 gpt Ag; 0.1 gpt Au, 1.9% Cu, 3 gpt Ag; 0.6 gpt Au, 1.5% Cu, 24 gpt Ag; 2.2 gpt Au, 0.9% Cu, 17 gpt Ag; 15.9 gpt Au, 0.4% Cu, 3 gpt Ag; 3.3 gpt Au, 0.1% Cu, 47 gpt Ag; 2.5 gpt Au, 0.1% Cu, 65 gpt Ag; 2.4 gpt Au, 0.5% Cu, 7 gpt Ag; 2.2 gpt Au, 0.9% Cu, 17 gpt Ag; 2.0 gpt Au, 0.3% Cu, 53 gpt Ag. “The recent advancement of exploration on the Sonora Gold concession has identified expansive copper mineralization along broadly continuous structural trends which have not yet been fully explored”.
    • Canasil Resources Inc. announced the start of the 2021 drill program at the Nora project in Durango. The initial focus is to test below, between and on strike extensions from high-grade Au and Ag intercepts from the 2020 program. Highlighted true width intercepts from the previous campaign include 2.40 m @ 4.78 gpt Au, 351 gpt Ag; 1.49 m @ 11.86 gpt Au, 378 gpt Ag and 3.05 m @ 3.71 gpt Au, 489 gpt Ag, with Pb, Zn, Cu credits.
    • Brigadier Gold Ltd. released drilling and underground sampling results from its Picachos project in Sinaloa. Highlighted underground sampling results comprise 0.3 m @ 31.4 gpt Au, 11 gpt Ag, 0.2% Cu, 0.5% Pb, 2% Zn; 3.2 m @ 7.43 gpt Au, 0.1% Pb, 0.2% Zn; 0.9 m @ 4.64 gpt Au, 0.1% Pb, 0.1% Zn; 0.5 m @ 38.88 gpt Au, 22 gpt Ag, 0.4% Cu, 1.7% Pb, 1.5% Zn; 1.0 m @ 12.79 gpt Au, 8 gpt Ag, 0.1% Cu, 0.9% Pb, 0.9% Zn. A surface trench returned 8 m @ 2.14 gpt Au, 0.1% Pb. Highlighted core length intervals comprise 6.5 m @ 0.26 gpt Au, 6 gpt Ag; 60.3 m @ 0.41 gpt Au, 0.2% Zn (including 4.5 m @ 0.56 gpt Au, 0.1% Pb, 0.1% Zn and 7.5 m @ 0.98 gpt Au, 0.1% Zn); 113 m @ 0.19 gpt Au, 0.1% Pb, 0.2% Zn (including 1 m @ 6.89 gpt Au, 0.1% Zn; 4 m @ 1.85 gpt Au; 1 m @ 5.51 gpt Au, 0.1% Zn); 123 m @ 0.27 gpt Au, 0.1% Pb, 0.2% Zn (including 4 m @ 1.08 gpt Au; 4 m @ 1.10 gpt Au, 0.4% Pb, 1.7% Zn; 1 m @ 3.51 gpt Au, 0.1% Pb).
    • Madoro Metals Corp. provided an update on recent exploration results from its Yautepec project in Oaxaca. A previously unknown 7 km long trend of epithermal alteration was found in the southern part of the project by company geologists. Highlighted results comprise 0.10 m @ 12.35 gpt Au, 1,250 gpt Ag in a quartz vein grab sample within a stockwork complex 400 by 200 m in the Tecolote zone; 0.10 m vein @ 0.54 gpt Au, 0.16% Cu, 1.3% Zn on the Southern Dike zone.
    • Zacatecas Silver Corp. completed access agreements with landowners at the San Gill breccia zone and San Gill vein system at its Zacatecas Silver project in Zacatecas. Environmental reports have been sent to SEMARNAT for the drilling of the Panuco and San Gill systems, and a third one is being prepared for El Cristo zone.
    • Tocvan Ventures Corp. released results from six reverse circulation drill holes at its Pilar project in Sonora. The phase II program sunk over 3,500 m in 20 holes, highlighted core length intervals comprise 44.22 m @ 0.41 gpt Au, 4 gpt Ag (including 7.63 m @ 1.66 gpt Au, 7 gpt Ag); 47.27 m @ 0.75 gpt Au, 5 gpt Ag (including 12.20 m @ 1.12 gpt Au and 19.82 m @ 1.06 gpt Au).

    ON MINING

    • GoGold Resources Inc. reported production of 315.6 K Oz Ag, 3,170 Oz Au, 120 tonnes Cu during the second quarter of 2021 at its Parral tailings project in Chihuahua.
    • Americas Gold and Silver Corp. signed an agreement with the Mexican Ministries of Economy, Interior and Labour committing to a reopening of its Cosalá operations in Sinaloa, shut by an illegal blockade spanning 17 months. “After the long period of denied access, the agreement contemplates immediate right to possession of the property with a joint inspection coordinated by the Ministry of Labor this Thursday, so that the mine can restart operations in a safe and sustainable manner”.  
    • Gatos Silver Inc. released its production report for the second quarter of 2021, which constitute a record for the company. A total of 240 K tonnes were mined, 230.6 K tonnes were milled at a daily rate of 2,535 tonnes, with an average grade of 322 gpt Ag, 0.35 gpt Au, 2.51% Pb, 4.41% Zn, with recoveries of 89% Ag, 63% Au, 90% Pb, 75% Zn, to produce 2.1 M Oz Ag, 1.5 K Oz Au, 11.2 M lb Pb, 14.5 M Lb Zn in Pb and Zn concentrates.
    • Endeavour Silver Corp. reported production results for the second quarter 2021. During the period 1.07 M Oz Ag, 11,166 Oz Au were produced. The El Cubo mine in Guanajuato was sold to Guanajuato Silver Corp..
    • Torex Gold Resources Inc. released production results for Q2 2021. At its El Limón-Guajes mine in Guerrero, a total of 118,050 Oz Au was produced, with an average plant throughput of 11,980 tpd, average underground ore mined of 1,420 tpd and an average open pit ore mined of 12,430 tpd.

    ON FINANCING

    • Gold 79 Mines Ltd. commenced trading on the OTCQB Venture Market in the United States, operated by the OTC Markets Group Inc., under the stock symbol AUSVF (Taviche , Oaxaca).
    • Minaurum Gold Inc. closed a previously announced bought deal public offering, for gross proceeds of C$9.2 M. Due to the demand, the offering was upsized from the original gross proceeds of C$7 M. The offering included an investment from Crescat Capital (Alamos Silver, Sonora).

    ON RESOURCES AND DEVELOPMENT

    • Southern Silver Exploration Corp. released drilling results that extend mineralization at the South Skarn and La Bocona areas at its Cerro Las Minitas project in Durango. True width core intervals comprise 1.8 m @ 161 gpt Ag, 0.1 gpt Au, 4.9% Pb, 3.0% Zn (including 0.4 m @ 422 gpt Ag, 0.4 gpt Au, 13.2% Pb, 9.1% Zn); 2.6 m @ 159 gpt Ag, 0.1 gpt Au, 2.4% Pb, 3.5% Zn; 14.0 m @ 162 gpt Ag, 0.2 gpt Au, 1.4% Pb, 0.5% Zn; 1.1 m @ 227 gpt Ag, 0.1 gpt Au, 3.7% Pb, 1.9% Zn. As of May 2019, the indicated resources stood at 37.5 M Oz Ag, 40 M Lb Cu, 303 M Lb Pb, 897 M Lb Zn; and inferred resources at 45.7 M Oz Ag, 76 M Lb Cu, 253 M Lb Pb, 796 M Lb Zn.
    • GR Silver Mining Ltd. reported results from the final drill holes to be incorporated in to the incoming resource estimation on the Plomosas mine area of the Plomosas project in Sinaloa. True width highlighted intervals comprise 29.5 m @ 1.13 gpt Au, 0.1% Zn (including 9.1 m @ 2.12 gpt Au, 0.1% Pb, 0.1% Zn); 6.4 m @ 0.81 gpt Au, 0.1% Zn; 3.6 m @ 163 gpt Ag, 0.05 gpt Au, 6.4% Pb, 3.7% Zn, 0.2% Cu; 6.1 m @ 120 gpt Ag, 0.48 gpt Au, 2.8% Pb, 0.7% Zn, 0.1% Cu; 0.9 m @ 5.24 gpt Au, 0.2% Pb, 0.2% Zn; 11.8 m @ 328 gpt Ag, 0.19 gpt Au, 0.5% Pb, 1.2% Zn; 1.0 m @ 680 gpt Ag, 0.04 gpt Au, 0.6% Pb, 2.4% Zn; 4.9 m @ 143 gpt Ag, 1.2% Pb, 4.3% Zn.
    • Capitan Mining Inc. reported results for four reverse circulation drill holes from the Capitan deposit at its Peñoles project in Durango. Highlighted intervals comprise 56.4 m @ 0.58 gpt Au, 14 gpt Ag (including 10.7 m @ 0.99 gpt Au, 16 gpt Ag); 38.1 m @ 0.26 gpt Au; 6.1 m @ 0.28 gpt Au, 5 gpt Ag; 187.5 m @ 0.23 gpt Au, 1 gpt Ag (including 29.0 m @ 0.51 gpt Au, 3 gpt Ag); 10.7 m @ 0.25 gpt Au, 4 gpt Ag; 41.1 m @ 0.24 gpt Au, 5 gpt Ag. Capitan Mining expects to complete a 6,000 m reverse circulation program during the summer whilst continuing exploration work on additional targets.
    • Guanajuato Silver Company Ltd. provided drilling results from El Pinguico, Guanajuato. Highlighted core length results comprise 1.65 m @ 2.45 gpt Au, 125 gpt Ag; 7.95 m @ 1.35 gpt Au, 39 gpt Ag (including 0.75 m @ 8.81 gpt Au, 208 gpt Ag); 8.10 m @ 1.00 gpt Au, 93 gpt Ag (including 0.90 m @ 5.96 gpt Au, 476 gpt Ag). GS Silver is planning a 3,800 m 18-hole strong drill program, with the aim of estimating resources.
    • Fabled Silver Gold Corp. announced results from underground drilling at the Santa Maria property in Chihuahua. Results comprise 9.90 m @ 0.08 gpt Au, 17 gpt Ag, minor (<0.1%) Pb-Zn-Cu; 1.20 m @ 0.08 gpt Au, 13 gpt Ag, minor Pb-Zn-Cu; 18.0 m @ 0.24 gpt Au, 20 gpt Ag, minor Pb-Zn-Cu; 2.40 m @ 0.06 gpt Au, 36 gpt Ag, minor Pb-Zn-Cu; 0.80 m @ 0.24 gpt Au, 302 gpt Ag, 0.1% Pb, 0.25% Zn; 6.30 m @ 0.04 gpt Au, 17 gpt Ag, minor Pb-Zn-Cu.

    ON DEALS AND CORPORATE ISSUES

    • Excellon Resources Inc. informed on the legal action regarding the Antigua concession within its Evolution project in Durango. A subsidiary of Excellon, San Pedro Resources SA de CV has been mandated in court to pay US$23 M in damages for not having in operation the Miguel Auza mine. “Excellon understands from an initial electronic notice that San Pedro’s appeal of this decision to the federal courts of Mexico was dismissed on July 1, 2021, despite the decision not being supported by the evidence, facts or law”.

    ON SOCIAL RESPONSIBILITY

    • Fresnillo PLC informed on the re-activation of sports programs in Coahuila.
    • Minera Autlán supports an environmental project in Hidalgo.
    • Fresnillo PLC backs the environment in Durango, aiding the El Porvenir sustainable forest.
    • Newmont Peñasquito installed a solar powered pumping system at El Nuevo Vergel, Zacatecas.

    On the image below:  Structure in andesitic rocks exposed on a road cut in Sonora. Picture by Jorge Cirett.

    The Mining and Exploration News in Mexico: Highlights on the Fourth Week of June, 2021

    By Jorge Cirett

    During the 25th week of the year (June 21st to June 28th, 2021), at least 34 press releases were announced by companies working in Mexico. To note, seven companies posted exploration advances on their properties, six posted on financing, warrants extension, options distribution or option payments received, eight more on project development or resource definition and four posted on deals or corporate issues. ON MEXICO ISSUES, there is a new illegal blockade at Los Filos in Guerrero. Canadian Mining companies are suffering the results of the asylum provided by Canada to Mexican union leader Napoleon Gómez Urrutia. ON EXPLORATION, in Sonora, Riverside is receiving funding for exploration of five properties; Ridgestone released surface sample results from Rebeico; Colibri completed an IP survey on Evelyn. In Chihuahua, Kootenay is to rehabilitate underground workings at Columba. In Sinaloa, GR Silver initiated a drilling campaign in the Rosario district. In Durango, Mithril intersected bonanza grade mineralization in drill holes at Copalquin. In Jalisco, Xali Gold identified targets at its Tepic project. ON MINING, Mexus Gold produced some gold at Santa Elena in Sonora. Fresnillo paid US$176.2 M in taxes to the Mexican government in 2020. Santacruz Silver reported a fatality at is Rosario mine in San Luis Potosi. ON FINANCING, Reyna Silver, Wealth Minerals and Southern Silver reported on financing rounds for C$6.06 M, $675 K and $3 M respectively. Vizsla Silver granted options, Radius Gold received $400 K as payment from Pan American Silver related to an earn-in agreement on the Amalia project. Advance Gold extended the expiry date of some warrants. ON RESOURCES AND DEVELOPMENT, Guanajuato Silver informed on advance at getting the El Cubo and Pinguico mines back to production. Minera Alamos informed construction has been completed at Santana, in Sonora. Fabled Silver Gold released drilling results from Santa Maria, in Chihuahua. Discovery Silver released results from drilling targeting bulk mining mineralization at Cordero, in Chihuahua. Vizsla Silver released interesting drilling results from Panuco, in Sinaloa. Silver Dollar signed a surface access agreement at La Joya, in Durango. Oroco Resources received the environmental permit to drill at Santo Tomas, in Sinaloa. ON DEALS AND CORPORATE ISSUES, Vizsla Silver is to spin a Canadian copper asset, forming Vizsla Copper. Fortuna Silver and Roxgold received a recommendation for their business combination. David Jones is on Benjamin Hill as a technical advisor. Orogen Royalties is to trade on the OTCQX ON SOCIAL RESPONSIBILITY, Peñoles, Fresnillo PLC, the Chihuahua Mining cluster and Minera Peñasquito informed on actions the companies realize to help communities and the environment. Great Panther published its sustainability report. Newmont launched its Climate Strategy Report.

    ON MEXICO ISSUES

    • Equinox Gold Corp. informed an illegal blockade has temporarily suspended mining activities at Los Filos, Guerrero. the illegal blockades are led by “a group of unionized employees and members of the Xochipala community, both of whom are demanding payments in excess of their contractual agreements.
    • Americas Gold & Silver continues its fight against Napoleón Gómez Urrutia union. The company has had its San Rafael mine in Cosalá, Sinaloa, under siege for 18 months by the section 333 of the Sindicato de Trabajadores Mineros, Metalurgicos, Siderurgicos y Similares de la República Mexicana (the union led by Napoleón Gómez Urrutia). The company asked the Canadian government for help on what they see as an illegal blockade disguised as a dispute for the Union to control the company’s personnel collective contract (speaking of retribution, Canadian Mining companies are paying for the asylum Canada provided to the Union leader, and are set to pay dearly if do not fight back).

    ON EXPLORATION

    • Riverside Resources Inc. informed BHP is funding exploration in five projects in Sonora, acquired under the BHP-Riverside Exploration Funding Agreement. A total of US$1.3 M over two years was allocated for generative funding, with an additional US$1 M in specific work programs. Riverside anticipates two projects will see a maiden drill campaign on 2021, of five under evaluation. The Chuin and Palofierro projects are the most advanced, while Sinoquipe, Penitas and Montosa projects are to follow suite. Magneto-teluric (MT) and gravity geophysics, green-mineral, whole rock and prospecting are being used for vectoring and district evaluations.
    • GR Silver Mining Ltd. initiated a 14,000 m exploration drill program in the Rosario district in Sinaloa.  Seven drill rigs are being mobilized to dill vein systems covering a combined 75 km strike length of the Plomosas, San Marcial and La Trinidad project areas. Some of the targets include the GAP area, Loma Dorada structure.
    • Xali Gold Corp. identified drill targets that can extend known mineralization at its Cocula project in Jalisco. These drill targets were identified on a 3D model, and are designed to test potential extensions to previously defined zones. The project displays two styles of mineralization, gold-silver as dissemination in oxidized breccias near surface and higher-grade gold silver and base metals in structures containing stockwork quartz veining.
    • Ridgestone Mining Inc. released assay results from sampling on recent mapping at its Rebeico project in Sonora. Sampling at El Cobre mine returned up to 1.0 m @ 3.5% Cu, 0.32 gpt Au, 32 gpt Ag, 0.136% Mo on the main structure. Regional mapping returned up to 1.2 m @ 1.06% Cu, 2.40 gpt Au, 6 gpt Ag in a quartz vein and 1.5 m @ 0.08% Cu, 3.45 gpt Au in a breccia. “The El Cobre mine was put into production by Asarco during the sixties and was developed on two levels, with the upper level having over 230 metres of drift development and the lower level having over 100 metres long of drift development at a depth of 180 metres below surface. The main structure, with widths varying from 1 to 5 metres, has been emplaced within a granodiorite intrusive and remains open along strike and at Depth”.
    • Kootenay Silver Inc. announced the signing of a contract with Tlasa Obras Mineras S. de R.L. de C.V. to rehabilitate the historic underground workings of the F vein at the Coulmba project in Chihuahua. Work is expected to take four months.
    • Colibri Resource Corp. reported the completion of the previously announced IP survey at Evelyn, in Sonora. The IP survey consisted of 38-line km of 3D-IP covering the eastern half of the Evelyn project. “…the highest chargeability response is spatially associated with the Main Zone within the Cerro Rojo target area…. the Company has decided to extend the IP survey to the western boundary thus completing 3D IP coverage over most of the property”.
    • Mithril Resources Ltd. released drill results from its Copalquin project in Durango. Highlighted core length results comprise: 6.8 m @ 74 gpt Au, 841 gpt Ag (including 2.1 m @ 235 gpt Au, 2,554 gpt Ag); 4.61 m @ 1.87 gpt Au, 89 gpt Ag; 7.60 m @ 2.34 gpt Au, 144 gpt Ag; 1.0 m @ 2.64 gpt Au, 167 gpt Ag; 6.0 m @ 1.41 gpt Au, 66 gpt Ag; 1.80 m @ 2.38 gpt Au, 53 gpt Ag; 1.05 m @ 2.36 gpt Au, 95 gpt Ag; 0.50 m @ 28.9 gpt Au, 471 gpt Ag; 1.66 m @ 2.41 gpt Au, 153 gpt Ag. Drilling continues along El Refugio structure, and soil sampling is in progress to define the structure a further 1.3 km to the west.

    ON MINING

    • Mexus Gold US. informed its Santa Elena mine in Sonora produced 20 Oz Au last week and confirmed the presence of 30 ounces more on the activated carbon cells.
    • Fresnillo PLC. presented a report on the payments to the governments of Mexico, Chile and Peru. In Mexico, Fresnillo paid US$ 139.3 M in taxes, US$1.48 M in royalties and US$35.4 M in concession fees, for a total of US$176.2 M.
    • Santacruz Silver Mining Ltd. reported a fatality at its Rosario project in San Luis Potosi. ”The accident took place at the Membrillo mine as a result of a rock fall”.

    ON FINANCING

    • Vizsla Silver Corp. granted 4.15 M options to directors, officers, employees and consultants (Panuco, Sinaloa).
    • Reyna Silver Corp. has over-sold the offering and completed a brokered private placement for gross proceeds of C$6.06 M (GuiGui, Chihuahua).
    • Radius Gold Inc. reported that Pan American Silver, its joint venture partner in at the Amalia project in Chihuahua, has paid a scheduled US$400 K property payment to Radius, and plans further drilling at the project. “Exploration completed at Amalia includes 31 holes for 10,588m of diamond core drilling, primarily at the San Pedro zone on the Amalia structure. The next targets to be drill tested are El Cuervo…. and at California”.
    • Wealth Minerals Ltd. closed the second tranche of the placement, for gross proceeds of $675 K (Coronado, Chihuahua).
    • Southern Silver Exploration Corp. closed the non-brokered private placement financing for gross proceeds of $3 M (Cerro Las Minitas, Durango).
    • Advance Gold Corp.  applied to the TSX Venture Exchange to extend the expiry date on 3.08 M share purchase warrants issued pursuant to the private placement financing in July 2019, by one year, to July 9, 2022 (Tabasqueña, Zacatecas).

    ON RESOURCES AND DEVELOPMENT

    • Guanajuato Silver Company Ltd. informed on staffing mill and mine refurbishment at El Cubo, Guanajuato. Also the company is doing metallurgical studies on El Cubo and Pinguico deposits.
    • Minera Alamos Inc. informed all construction has now been completed at Santana, in Sonora. “All construction has now been completed with the full leach pad now lined and available for stacking….. First loading of mined material from the Nicho Norte pit commenced earlier this month …in preparation for the commissioning of leach operations around the end of the June”.
    • Fabled Silver Gold Corp. released drilling results from its ongoing campaign at Santa Maria, Chihuahua. Highlighted core length results comprise 10.50 m @ 0.38 gpt Au, 31 gpt Ag, 0.2% Pb, 1.0% Zn Cu (including 1.20 m @ 1.37 gpt Au, 51 gpt Ag, 0.6% Pb, 4.2% Zn); 27.50 m @ 0.19 gpt Au, 20 gpt Ag (including 1.20 m @ 0.52 gpt Au, 163 gpt Ag, 0.3% Pb, 1.0% Zn); 19.65 m @ 0.44 gpt Au, 52 gpt Ag, 0.3% Pb, 0.6% Zn (including 7.90 m @ 0.74 gpt Au, 104 gpt Ag, 0.5% Pb, 1.2% Zn); 1.00 m @ 0.33 gpt Au, 322 gpt Ag, 0.3% Pb, 0.4% Zn.
    • Discovery Silver Corp. released results from 12 drill holes targeting bulk-mining mineralization at its Cordero project in Chihuahua. Highlighted results comprise 65.9 m @ 69 gpt Ag, 0.11 gpt Au, 0.7% Pb, 3.7% Zn; 143 m @ 39 gpt Ag, 0.13 gpt Au, 0.4% Pb, 1.3% Zn; 59.5 m @ 54 gpt Ag, 0.08 gpt Au, 0.9% Pb, 1.5% Zn; 86.0 m @ 33 gpt Ag, 0.17 gpt Au, 0.3% Pb, 1.2% Zn; 82.3 m @ 44 gpt Ag, 0.06 gpt Au, 0.7% Pb, 1.5% Zn; 59.4 m @ 48 gpt Ag, 0.06 gpt Au, 1.0% Pb, 2.0% Zn; 48.9 m @ 85 gpt Ag, 0.08 gpt Au, 0.6% Pb, 1.1% Zn.
    • Vizsla Silver Corp. provided results for fourteen holes from the Napoleon prospect at the Panuco project in Sinaloa. Highlighted true width results comprise 3.73 m @ 2.85 gpt Au, 105 gpt Ag, 0.7% Pb, 1.4% Zn; 2.62 m @ 5.51 gpt Au, 476 gpt Ag, 1.5% Pb, 1.1% Zn; 8.36 m @ 5.58 gpt Au, 372 gpt Ag, 0.2% Pb, 0.9% Zn (including 2.31 m @ 18.88 gpt Au, 1,306 gpt Ag, 0.7% Pb, 2.1% Zn; 3.21 m @ 0.94 gpt Au, 30 gpt Ag, 0.1% Pb, 0.9% Zn; 3.45 m @ 1.81 gpt Au, 43 gpt Ag, 0.3% Pb, 1.2% Zn; 11.34 m @ 3.11 gpt Au, 88 gpt Ag, 0.3% Pb, 2.1% Zn; 4.87 m @ 3.70 gpt Au, 112 gpt Ag, 0.3% Pb, 1.5% Zn.
    • GoGold Resources Inc. informed on results from seven drill holes from El Favor deposit at its Los Ricos North project in Jalisco. Highlighted core length results comprise: 15.0 m @ 0.41 gpt Au, 136 gpt Ag (including 6.4 m @ 0.80 gpt Au, 258 gpt Ag); 20.6 m @ 0.13 gpt Au, 44 gpt Ag; 10.6 m @ 0.09 gpt Au, 38 gpt Ag; 6.5 m @ 0.17 gpt Au, 81 gpt Ag; 63.7 m @ 0.11 gpt Au, 47 gpt Ag (including 9.1 m @ 0.54 gpt Au, 186 gpt Ag); 61.3 m @ 0.56 gpt Au, 243 gpt Ag (including 9.3 m @ 2.06 gpt Au, 973 gpt Ag); 9.4 m @ 0.10 gpt Au, 45 gpt Ag; 6.8 m @ 0.12 gpt Au, 136 gpt Ag; 4.8 m @ 0.25 gpt Au, 88 gpt Ag; 14.4 m @ 0.17 gpt Au, 49 gpt Ag; 35.2 m @ 0.17 gpt Au, 43 gpt Ag. “Three of the four major veins (Salomon, Guitarrillas and Los Chivos) appear to converge into a 100m wide zone at the western end of the El Favor deposit in the vicinity of the Hundido Pit….”.
    • Silver Dollar Resources Inc. entered into a formal surface access agreement with the ejido Noria de Pilares, at its La Joya project in Durango.
    • Oroco Resources Corp. received approval by SEMARNAT to conduct a drilling program at its Santo Tomas project in Sinaloa. The permit allows for 46 drill locations to test the Brasiles gossan zone and the Western blind target, both supported by a 3D IP survey, and nine drill locations on the North zone for confirmation and expansion drilling.

    ON DEALS AND CORPORATE ISSUES

    • Vizsla Silver Corp. informed on the approval of the proposed plan of arrangement on which Vizsla Silver is to spin-out its British Columbia exploration assets to Vizsla Copper Corp. (Panuco, Sinaloa).
    • Fortuna Silver Mines Inc. and Roxgold Inc. informed two leading proxy advisory firms have recommended that both Fortuna and Roxgold shareholders vote for the proposed business combination (San Jose, Oaxaca).
    • Benjamin Hill Mining Corp. announced the appointment of David M. Jones, M.Sc., as technical advisor to the company (Sonora Gold, Sonora).
    • Orogen Royalties Inc. announced its shares have been qualified to trade on the OTCQX Best Market (Ermitaño, Sonora).

    ON SOCIAL RESPONSIBILITY

    • Peñasquito informed its water purification plant in Cedros has increased its capacity to 400 cubic meters per day. The community, which doubled its population since the development of the mine, receives the water at no cost. There are two other water purification plants run by the company at the Mesas and Charcos communities.
    • Greath Panther Mining published its 2020 sustainability report, describing its safety performance, Covid prevention, zero sanctions, decrease in water consumption, community engagement, gender opportunities and diversity policy.
    • The Chihuahua Mining Cluster is aiding in the community effort to extinguish forest fires in the Sierra Madre.
    • Newmont Corp. launched its first Climate Strategy Report, which outlines the Company’s climate-related risks and opportunities, strategic planning, and pathways to achieving climate targets.
    • Industrias Peñoles informed on the reforestation effort with native species in La Laguna region (Coahuila-Durango).
    • Peñoles and Fresnillo PLC are to support micro business and auto-development economic proyects in Caborca, Sonora.

    On the image below:  Sheeted quartz veining in granodioritic intrusive rocks in Sinaloa. Picture by Jorge Cirett.

    The Mining and Exploration News in Mexico: Highlights on the Third Week of June, 2021.

    Quartz Vein-Breccia

    By Miguel A Heredia

    During the 24th week of the year (June 14th to June 20th, 2021), at least 15 press releases were announced by companies working in Mexico and 6 news published by the media, with seven reporting on resources and developments, five informing on exploration results, four commenting on Mexican issues, two announcing financial rounds, two discussing social issues, and one disclosing deals and corporate issues.  ON MEXICO ISSUES, Dhipna Yanssen Weichselbaum, head of the Federal Programs in Baja California explained that 12,000 people will be consulted in Mulegé to carry out the consultation of El Boleo. The Argentine Embassy in Mexico along with the Ministry of Mining of that country carried out a working seminar with the Mexican company Baluarte Minero (Industrias Peñoles and Fresnillo PLC). The consultation for the nationalization of lithium, proposed by President Andrés Manuel López Obrador, is not necessary, since, it is already owned by Mexico. ON EXPLORATION, In Sonora, Tocvan and its JV partner Colibri reported drill results from its the El Pilar project, and Tarachi started a second drilling program on its San Javier mining concession at La Colorada gold bearing breccia pipe. In Chihuahua, Mammoth reported results from an additional 1.7km of 3D geophysical modeling conducted at its Tenoriba project. In Nayarit, Sierra Madre provided an update on the activities developed at its Tepic project. ON MINING, no relevant news. ON FINANCING, Azucar granted stock options to certain directors and officers of the company (El Cobre project, Veracruz). Advance Gold closed a private placement financing for gross proceeds of $200K (Tabasqueña project, Zacatecas). ON RESOURCES AND DEVELOPMENT, Almaden completed a surface induced polarization geophysical (IP) program at its Ixtaca project in Puebla. GoGold released results from eight drill holes collared at its Los Ricos project in Jalisco. Silver Viper filed on SEDAR a NI 43-101 technical report supporting the maiden mineral resource estimate for its La Virginia project in Sonora. Torex released an updated mineral resource estimate for its media Luna project in Guerrero. Zacatecas Silver announced positive preliminary metallurgical test results from its Zacatecas Silver property. Excellon filed on SEDAR an independent NI 43-101 technical report for its La Platosa mine in Durango. Ridgestone announced that it filed on SEDAR a NI 43-101 technical report for its Guadalupe y Calvo project in Chihuahua.    ON DEALS AND CORPORATE ISSUES, SilverCrest presented results of its annual general meeting of shareholders (Las Chispas project, Sonora).    ON SOCIAL RESPONSIBILITY, Peñoles community center received population from 40 to 49 years for anticovid vaccine in Torreón. Peñoles and Fresnillo plc announced that they are training young Mexicans in seven states.

    ON MEXICO ISSUES

    • Dhipna Yanssen Weichselbaum, head of the Federal Programs in Baja California explained that 12,000 people will be consulted in Mulegé to carry out the consultation of El Boleo. the procedure will consist of 2 phases: one is the publication of the call to know the expansion of the MIA project and then the citizen consultation that will take place in the communities of Santa Rosalía and San Ignacio, among others, which are related to the El Boleo mining company.
    • The Argentine Embassy in Mexico along with the Ministry of Mining of that country carried out a working seminar with the Mexican company Baluarte Minero (Industrias Peñoles and Fresnillo PLC). The group’s interest was particularly focused on the provinces of Neuquén, Rio Negro, Salta, Mendoza and San Juan, where Mexican businessmen expressed their intention to evaluate the possibility of investing in mining projects in the region. Technical experts and professionals from Baluarte Minero were informed about prospects for gold, silver, copper, potassium and lithium in Argentina.
    • According to experts of the Association of Mining Engineers, Metallurgists and Geologists of Mexico (AIMMGM), the consultation for the nationalization of lithium, proposed by President Andrés Manuel López Obrador, is not necessary, since, it is already owned by Mexico. Article 27 of the constitution clearly states that all mineral deposits that are in Mexican territory are property of the Nation, so it would not be necessary to nationalize lithium.

    ON EXPLORATION

    • Tocvan Ventures Corp., and its JV partner Colibri Resource Corporation reported drill results from four RC holes collared at its the El Pilar project in Sonora. Highlights includes a drill intersection of 0.66 g/t Au over a length of 35.1m in hole JES-21-43 drilled at the Main Zone. This drill intercept includes 1.7 g/t Au over 13.7m, including 6.8 g/t Au and 7 g/t Ag over 3.1m. Tocvan is currently completing 3,500m of RC drilling in 20 holes comprising its Phase II program at Pilar. Thirteen RC holes are still pending of assay results.
    • Tarachi Gold Corp., started a second drilling program on its San Javier mining concession at La Colorada gold bearing breccia pipe. The plan is to drill four holes down-dip of the breccia pipe to test the continuity of the positive results encountered from the 2020 drill program performed at the property, which returned high grade intersections.
    • Mammoth Resources Corp., reported results from an additional 1.7km of 3D geophysical modeling conducted at its Tenoriba project in Chihuahua. “This additional 3D modelling shows similar strong correlation between IP/Mag  geophysical features and anomalous surface gold-in-soil, chips and channel samples together with numerous gold intervals in diamond drilling and extends these coincident features over this additional 1.7Km of a total of 4km of IP/Mag coverage over a larger 6km east-west trend of surface gold-silver mineralization at Tenoriba”.
    • Sierra Madre Gold and Silver Ltd., provided an update on the activities developed at its Tepic project in Nayarit. The company has already drilled over 80% of the 2,000m and is expected to be completed soon. This is part of the 20 RC holes panned for its phase 1 drilling program. RC drill results will be released once assaying is completed. Sierra Madre is preparing new drill permits to conduct a Phase 2 drill program for additional 100-200 holes. The company also has commenced a 2,700m Phase 1 trenching program for the central project area. It will help to provide information to consider designing the Phase 2 drill program. The company also announced that, mapping and sampling continue in the northern and eastern project areas with an emphasis on prospecting arroyos and creek beds for signs of mineralization.

    ON MINING

    • No relevant news.

    ON FINANCING

    • Azucar Minerals Ltd., granted stock options to certain directors and officers of the company to purchase an aggregate of 413K common shares at an exercise price of $0.13 per share which expire on June 14, 2023 (El Cobre project, Veracruz).
    • Advance Gold Corp., closed a private placement financing for gross proceeds of $200K. The company plans to use the proceeds to advance their lithium-potassium boron prospective salars in central Mexico and for general corporate purposes.

    ON RESOURCES AND DEVELOPMENT

    • Almaden Minerals Ltd., completed a surface induced polarization geophysical (IP) program at its Ixtaca project in Puebla. The IP results are being processed and combined with geological, geochemical and geophysical data collected in the past to outline drill targets beneath the Southeast Alteration Zone and at depth beneath the Ixtaca deposit.
    • GoGold Resources Inc., released results from eight drill holes collared at the Casados deposit at its Los Ricos North project in Jalisco. The most significant drill intersection was encountered in hole LRGCS-21-043 with 0.12 g/t Au and 270 g/t Ag (3.72 g/t AuEq or 279 g/t AgEq) over 0.9m, plus 0.46 g/t Au and 135 g/t Ag (2.25 g/t AuEq or 169 g/t AgEq) over 0.46m, plus 0.43 g/t Au and 132 g/t Ag (2.19 g/t AuEq or 164 g/t AgEq) over 33.6m, including 0.88 g/t Au and 270 g/t Ag (4.48 g/t AuEq or 336 g/t AgEq) over 15.3m, including 1.78 g/t Au and 539 g/t Ag (8.97 g/t AuEq or 673 g/t AgEq) over 6.7m, including 3.77 g/t Au and 930 g/t Ag (16.17 g/t AuEq or 1,213 g/t AgEq) over 1.9m.
    • Silver Viper Minerals Corp., filed on SEDAR a NI 43-101 technical report supporting the maiden mineral resource estimate for its La Virginia project in Sonora. El Rubi Zone contains an indicated resource of 6,179,000 tonnes of 0.78 g/t Au and 35 g/t Ag for 154.3K Oz Au and 6.93M Oz Ag, and inferred resources of 3,255,000 tonnes of 0.9 g/t Au and 36 g/t Ag for 94.1K Oz Au and 3.75M Oz Ag in open pit category. Virginia, El Oriental, Las Huatas and Las Huatas South add and inferred resource of 6,622,000 tonnes of 0.71 g/t Au and 41 g/t Ag for 152.2K Oz Au and 8.74M Oz Ag in open pit category, and 277K tonnes of 1.92 g/t Au and 62 g/t Ag for an additional 14K Oz Au and 451.5K Oz Ag in the underground category. Gold and Silver Equivalents for Indicated resource equal 253,286 Oz AuEq or 17,730,000 Oz AgEq. Gold and Silver Equivalents for Inferred resource equal 445,176 Oz AuEq or 31,162,300 Oz AgEq.
    • Torex Gold Resources Inc., released an updated mineral resource estimate for its media Luna project in Guerrero. Torex reported indicated resources for 20.9M tonnes of 3.21 g/t Au, 32 g/t Ag, and 1.07% Cu (5.27 g/t AuEq) to contain 2.15M Oz Au, 21.3M Oz Ag, and 492M Lb Cu (3.54M Oz AuEq), and inferred resources for 18.9M tonnes of 2.11 g/t Au, 28 g/t Ag, and 1.04% Cu (4.08 g/t AuEq) to contain 1.28M Oz Au, 17.1M Oz Ag, and 431M Lb Cu (2.48M Oz AuEq).
    • Zacatecas Silver Corp., announced positive preliminary metallurgical test results from its Zacatecas Silver property, for both bulk flotation and sequential flotation recovery options,  with the bulk floatation flow-path producing a single gold, silver, lead and zinc rougher concentrate (15 minutes of floatation and 23% mass pull) with 697 g/t silver, 0.97 g/t gold, 1.67% zinc and 0.58% lead and recovering 96.2 % of the silver, 93.6% of the gold, 96.5% of the zinc and 92.1 % of the lead.
    • Excellon Resources Inc., filed on SEDAR an independent NI 43-101 technical report. This technical report documents a mineral resource statement for the Platosa Mine in Durango. The company reported measured + indicated resources for 317K tonnes of 485 g/t Ag, 5.3% Pb, and 5.5% Zn to contain 4.9M Oz Ag, 36.79M Lb Pb, and 38.78M Lb Zn, and inferred resources for 42K tonnes of 749 g/t Ag, 4.3% Pb, and 5.4% Zn to contain 1M Oz Ag, 4M Lb Pb, and 5M Lb Zn.
    • Ridgestone Mining Inc., announced that it filed on SEDAR a NI 43-101 technical report to support the maiden mineral resource estimate for its Guadalupe y Calvo project in Chihuahua. Ridgestone reported indicated resources for 6,427,444 tonnes of 50 g/t Ag and 1.05 g/t Au (1.72 g/t AuEq) to contain 10.43M Oz Ag and 217K Oz Au (356K Oz AuEq), and inferred resources for 3,074,146 tonnes of 94 g/t Ag and 3.4 g/t Au (4.65 g/t AuEq) to contain 9.3M Oz Ag and 335.6K Oz Au (460K Oz AuEq).

    ON DEALS AND CORPORATE ISSUES

    • SilverCrest Metals Inc., presented results of its annual general meeting of shareholders held in Vancouver, BC, Canada (Las Chispas project, Sonora). 

    ON SOCIAL RESPONSIBILITY

    • Industrias Peñoles S.A.B. de C.V., community center received population from 40 to 49 years and pregnant women of more than nine weeks of gestation for anticovid vaccine in Torreón. The inoculation is carried out by personnel of the General Hospital of the Zone from the Mexican Social Security Institute  # 18 (IMSS) as well as nurses from said mining company.
    • Industrias Peñoles S.A.B. de C.V., and Fresnillo plc announced that they are training young Mexicans in seven states. Both companies recognize that education plays an important role in people’s lives, because it provides them with new tools that contribute to improve their quality of life. In this sense, they teach specialized courses for girls, children and young people in various areas such as science, technology, engineering, human development, health, entrepreneurship and children’s literacy, among others.

    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 quartz vein-bx in a low sulphidation epithermal system in a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia.