TORONTO, Aug. 17, 2018 (GLOBE NEWSWIRE) — VVC Exploration Corporation (“VVC” or the “Company”) (TSX-V:VVC) today announced assay results from 6 additional diamond drill holes (DDH) from the ongoing drilling program at its Samalayuca Copper Property (the “Property”) in northern Chihuahua State, Mexico. A total of eleven DDH’s have now been completed in the Gloria Extension Zone (GEZ). The results from five of these holes (SC17-22, SC17-23, SC18-24, SC18-25 and SC18-26) have previously been reported. All eleven DDH’s which tested the zone intersected significant copper mineralization as detailed in the table below.
August 16, 2018, Vancouver, BC – Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF – the “Company” or “Goldplay”) is pleased to announce initial results from sampling of the first of 22 historical core drill holes completed in 2010, on the Company’s San Marcial Project in Mexico. These drill holes were not incorporated in the historical NI 43-101 resource completed in 2008 (“historical resource”) and thus represent an opportunity for resource expansion. The results to date have successfully demonstrated continuity of the silver, lead, zinc and gold mineralization down dip and revealed new geological features, supporting upside opportunity for the discovery of new mineralized zones at San Marcial. The core sampling program has successfully identified a high-grade mineralized zone hosted in hydrothermal breccias close to major geological structures cross cutting a highly altered volcanic sequence
Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce high grade gold sampling results on its 100% owned Malé gold project (“Malé” or “Property”) located approximately 100 kilometers south east of the city of Hermosillo in the state of Sonora, Mexico. The Malé property was acquired through Kootenay’s generative exploration program.
VANCOUVER, B.C., AUGUST 08, 2018 – One World Lithium Inc. (CSE-OWLI) (“OWL”) (the “Company”) has accepted the Lithium Partnership’s (the “LP”) the final report summarising the Phase 2 pre drilling programs, which incorporates all the geochemical, geophysical and geological data necessary to select drill hole locations.
TORONTO, Aug. 7, 2018 /CNW/ – Sable Resources (TSX.V: SAE) (the “Company” or “Sable”) is pleased to announce results from the third drill hole targeting the Margarita Vein in its ongoing 12-hole drill program at the Margarita Project, Chihuahua State, Mexico. Hole M-DDH-18-06 is located between previously released holes M-DDH-18-04 and M-DDH-18-05 (Sable Press Release dated July 26 2018) and confirms vein continuity between these two holes over a distance of 500m. MDDH-18-06
intersected the Margarita Vein at a depth of 40 meters from surface and returned a
weighted average grade of 514g/t AgEq over an intercept of 12.4 meters. True widths are estimated to be 90% of the intercept based on vein to core angle. Detailed drill results, location plan, sections and core photos are available from the Sable website.
Marble breccia cemented by FeOx
By Miguel A Heredia
During the 31st week of the year (July 30th to August 05th, 2018), at least 20 press releases were announced by companies working in Mexico, with six informing on exploration results, five announcing production results, five communicating deals and corporate issues, two reporting on resources and developments, and two announcing financing issues. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Chihuahua, Silver Spruce received approval to drill its Pino de Plata project, Radius Gold-Pan American Silver announced a JV agreement to explore and drill the Amalia project, and VVC reported drilling results from its Samalayuca property. In Sinaloa, Goldplay reported drilling results from its El Habal project. In Durango, First Mining signed an agreement to option its Las Margaritas gold project to Gainey. ON MINING, Several companies reported Q2, 2018 results on its Mexican operations. In Sonora, Alamos Gold announced Q2, 2018 results from their Mulatos and Chanate mines. In Sinaloa, McEwen provided Q2, 2018 results from its El Gallo mine. In Durango, Excellon announced Q2, 2018 results from its La Platosa mine. Great Panther reported Q2, 2018 results from their mining operations in Mexico and Peru. In Guerrero, Telson presented Q2, 2018 results from its Campo Morado mine. ON FINANCING, VVC announced a non-brokered private placement for $CA 1.5M. Colibri Resource negotiated an agreement to provide debt financing in an amount up to CAD $400K. ON RESOURCES AND DEVELOPMENT, Premier Gold provided an exploration update on its Mercedes mine in Sonora. Sierra Metals filed a NI 43-101 technical report for its Cusi mine in Chihuahua. ON DEALS AND CORPORATE ISSUES, Goldplay secured eligibility for its shares and appointed its VP Corporate Development and Exploration. SilverCrest announced the resignation of one of its Directors. Equinox Gold announced court approval of the arrangement for the Solaris Copper spinout. VVC announced that its Annual General meeting for shareholders will be held on August 21. Radius Gold and Pan American silver entered in an agreement to explore the Amalia project in Chihuahua.
ON MEXICO ISSUES
- No relevant news.
- Silver Spruce Resources Inc., received approval for drilling its Pino de Plata project in Chihuahua. The company plans to perform a first phase of 1,500m of diamond drilling to test high grade targets identified with surface sampling, with a follow-up phase 2 where results warrant. The first drill target is El Terrero, an area of 2 square km area showing disseminated epithermal mineralization in intrusive rocks, where surface sampling returned up to 557 g/t Ag along with anomalous Au, Cu, Pb and Zn values. Six holes are planned with targeted depths to 100m. A second target is the Teodora Vein, where surface sampling reported up to 553 g/t Ag with anomalous values of Au, Cu, Pb and Zn. Three holes are proposed with planned depths to 100m. The third target is the Santa Elena Gossan, an area of 20 square km where surface rock sampling on carbonate replacement mineralization in limestone/marble and sandstone/hornfels assayed up to 349 g/t Ag with anomalous base metal values. Three to five holes are proposed in this target area with planned depths to 100m.
- Radius Gold Inc., and Pan American Silver Corp., entered in a JV agreement to explore the Amalia project in Chihuahua. This option agreement is to explore a corridor of 3.5km of strike length and 600m of vertical interval, where 3 high grade targets showing epithermal Ag-Au mineralization in veins, vein breccias, and disseminated have been identified following the trace of a large regional fault zone. The Campamento target is a 500m by 70m zone of intense silicification and brecciation with massive and stockwork veining. A chip channel sampling returned 62m of 0.43 g/t Au and 98 g/t Ag. High grade has been also identified in this target with the most significant result returning 4.5m of 10.3 g/t Au and 202 g/t Ag. Radius and Pan American plan to drill test 100m to 250m below surface. The Guadalupe target is a high grade andesite structurally controlled breccia zone located 450m south along strike from the Campamento target and 250m lower in the geological section. A continuous chip sampling on the Guadalupe target returned 7m of 3.62 g/t Au and 1,048 g/t Ag, and 4m of 3.92 g/t Au and 888 g/t Ag. The Dulces target is a vein located 800m NE of Campamento target at the same elevation and occurs within an extensive argillic-altered andesite and related gold in soil anomaly. Sampling has returned 1m of 34 g/t Au and 13 g/t Ag, and 1.5m of 114.5 g/t Au and 57 g/t Ag.
- VVC Exploration Corporation, reported drill results from its Samalayuca project in Chihuahua. The phase 3 was planned to drill 3,000m and begun in May 2018 with 8 holes completed to date. Results of the three first holes were 30m of 0.34% Cu and 6 g/t Ag, including 14m of 0.54% Cu and 10 g/t Ag; 7m of 0.39% Cu and 7 g/t Ag; and 25m of 0.43% Cu and 7 g/t Ag. These results extend the copper mineralization at La Gloria zone previously drilled in 2017.
- Goldplay Explorations Ltd., announced initial results of four drill holes from its El Habal project in Sinaloa. The most significant results are 77.5m of 0.43 g/t Au, including 9.45m of 2.05 g/t Au, and 15.4m of 1.35 g/t Au. The mineralization intersected consisted of a series of mineralized breccias, structures/zone faults present in a 6km long mineralized corridor which represent a high-level gold system hosted by a volcanic sequence with intrusives and related hydrothermal fluids.
- First Mining Gold Corp., and Gainey Capital Corp., signed an option agreement in which Gainey can acquires 100% of the Las Margaritas Gold project in Durango. Under the terms of the four year option agreement, Gainey can elect to make either annual share or cash payments to First Mining in the following amounts:
- Upon completion, Gainey will obtain 100% ownership of the Las Margaritas project and First Mining will retain a 2% net smelter returns (“NSR”) royalty, with Gainey having the right to buy back 1% of the NSR royalty for USD$1,000,000 up until the first anniversary of the commencement of commercial production at the project.
- Alamos Gold Inc., presented Q2 2018 results from their Mulatos and El Chanate mines in Sonora. At Mulatos, the company produced 50.6K Oz Au at an all-in sustaining cost (AISC) per ounce of gold sold of $854. At El Chanate, Alamos produced 10.1K Oz Au at an AISC per ounce of gold sold of $1,442.
- McEwen Mining Inc., reported Q2 2018 results from its El Gallo Fenix mine in Sinaloa. The compnay produced 10.8K GEOs (Silver and gold production are presented as GEOs). Total cash costs and AISC per GEO were $783 and $816 respectively.
- Excellon Resources Inc., announced Q2 2018 results from its La Platosa mine in Durango. In Q2, 2018, the company milled 16.1K tonnes of 507 g/t Ag, 5.7% Pb, and 8.4% Zn to produce 277.7K Oz Ag, 1.8M Lb Pb, and 2.8M Lb Zn. Metallurgical recoveries for Ag, Pb, and Zn were 89.6%, 80.2%, and 82.2% respectively.
- Great Panther Silver Limited, reported results from their mining operations in Mexico and Peru for the Q2, 2018 period. The company did not release detail information from its Mexican operations (Topia mine in Durango and Guanajuato Mine Complex in Guanajuato).
- Telson Mining Corporation, presented Q2, 2018 results from its Campo Morado mine in Guerrero. The company processed 162.5K tonnes to produce 19.3M Lb Zn, and 1.3M Lb Pb, with metallurgical recoveries of 73.3% and 31.2% respectively.
- VVC Exploration Corporation, announced a non-brokered private placement for $CA 1.5M. VVC has raised to date $CA 1.15M and expects to complete the rest $CA 350K in August.
- Colibri Resource Corporation, negotiated an agreement with two shareholders to provide debt financing in an amount of up to CAD$400K.
ON RESOURCES AND DEVELOPMENT
- Premier Gold Mines Limited, provided an exploration update on its Mercedes mine in Sonora. The company announced the extension of a high grade vein system on its El Rey de Oro deposit. Significant underground drilling results are 16.55m of 6.21 g/t Au and 102 g/t Ag, 21.95m of 36.65 g/t Au and 171 g/t Ag, 20.5m of 8.1 g/t Au and 121 g/t Ag, and 9.2m of 8.33 g/t Au and 67.7 g/t Ag. Additionally, the company is conducting an underground drilling program to define the high grade Aida target located to the west of the main Mercedes vein where previous drilling has intersected a broad zone of low-grade mineralization with assays of up to 0.64 g/t Au and 0.79 g/t Ag across 31.5 metres. Premier also has the plan to drill test the Marianas vein once the drift has been established in H2 2018, and will go on with the definition and step-out drilling at Diluvio and Lupita areas that were recently brought into production.
- Sierra Metals Inc., filed a NI 43-101 technical report for its Cusi mine in Chihuahua. The company released results of the PEA study. Results from the PEA include an after-tax net present value (NPV) of US$92.2 Million at an 8% discount rate, an after-tax internal rate of return (IRR) of 75%, a plant processing rate of currently 650 tonnes per day (TPD) growing to 1,200 TPD by Q1 2019 and 2,700 TPD by mid-2021, and a mine life of 9 years based on existing Mineral Resource Estimate.
ON DEALS AND CORPORATE ISSUES
- Goldplay Exploration Ltd., appointed its VP Corporate Development and Exploration and secured eligibility by the Depositary Trusts Company for its shares on the OTC marketplace where the company trades under the symbol “GLYXF” (El Habal, Sinaloa).
- SilverCrest Metals Inc., announced the resignation of one of its Directors. (Las Chispas, Sonora).
- Equinox Gold Corp., announced final court approval of the arrangement for the Solaris Copper spinout (La Verde, Michoacan).
- VVC Exploration Corporation, announced that its Annual General meeting of shareholders will be held on August 21 (Samalayuca, Chihuahua).
- Radius Gold Inc., and Pan American Silver Corp., entered in a JV agreement to explore the Amalia project in Chihuahua. Pan American can earn an initial 65% of the property by making cash payments to Radius totaling $US 1.5M (of which $US 100K has been already paid), and expending $US 2M on exploration over four years, and can acquires an additional 10% by advancing the property to a FS.
Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.
On the picture above, a marble breccia cemented by FeOx in an Iron Mine in Coahuila, Mexico. Photo by Miguel A Heredia.
PREMIER GOLD MINES LIMITED (“Premier” or “The Company”) (TSX:PG) is pleased to provide an exploration update, including the confirmation of high grade extensions, at the Company’s 100%-owned Mercedes Mine, located in the State of Sonora, Mexico.The ongoing 40,000 metre surface and underground drill programs include definition and expansion of the main gold bearing horizons and testing new zones on the property.
August 1, 2018, Vancouver, BC – Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF – the “Company” or “Goldplay”) is pleased to announce initial results of four drill holes of the Company’s first phase of its core drilling program, at its 100%-owned El Habal Project, Sinaloa, Mexico. The program has successfully identified near-surface continuity of gold mineralization. Four drill holes were completed at El Habal, totaling 1045.85 meters
Derelict buildings on the Pozos District, Guanajuato.
By Jorge Cirett
During the 30th week of the year (July 23rd to July 29th, 2018), at least 14 press releases were announced by companies working in Mexico. Canasil, Endeavour Silver, Goldcorp and Sable updated on exploration advances. Fresnillo, Coeur and Agnico Eagle released Q2 2018 reports. Silver Bull closed the initial tranche of a financing round. Mexican Gold, SilverCrest Metals, Endeavour Silver, Coeur Mining, Agnico Eagle, Excellon and Minera Alamos reported advances on the development or exploration of their resource base. ON MEXICO ISSUES, The Mexican Core Shack now counts with displays from three properties in Chihuahua. ON EXPLORATION, In Chihuahua, Sable Resources released drilling results with good silver values from its Margarita property. In Zacatecas Canasil released drilling results from the Esperanza project; Endeavour Silver published drilling results from the Calicanto property; Goldcorp disclosed exploration efforts at its Santa Rosa project and the recent signing of a JV with Frisco to explore the Mazapil Valley. ON MINING Fresnillo, Coeur Mining and Agnico Eagle released Q2 2018 reports. ON FINANCING, Silver Bull closed the initial tranche of a financing round, gathering $2.83 M. ON RESOURCES AND DEVELOPMENT, Mexican Gold, SilverCrest, Endeavour Silver, Coeur Mining, Agnico Eagle, Excellon and Minera Alamos updated on exploration efforts to increase the resource base at their properties. ON DEALS AND CORPORATE ISSUES, No relevant news.
ON MEXICO ISSUES
- The Mexican Core Shack added images of core from La Cigarra in Chihuahua, at https://gambusinoprospector.com/mexican-core-shack/chihuahua/la-cigarra/0 . The Mexican Core Shack now displays three properties located in Chihuahua: Los Gatos, Santa Maria and La Cigarra. New core will be uploaded every week.
- Canasil Resources Inc. released results from one more drill hole at its Esperanza project in Zacatecas. The samples returned 1.92 m (true width, or TW) @ 190 g/t Ag, 0.13 g/t Au, 1.35% Zn, 0.22% Pb, 0.06% Cu, within 12.20 m @ 68 g/t, 0.11 g/t Au, 1.0 % Zn, 0.17% Pb, 0.07% Cu. This intercept is 225 m below the surface, 50 m below and 25 m by the side of a previous intercept, opening the southeast extension of the La Esperanza vein for additional drilling. “Drilling has traced the La Esperanza vein over a strike distance of 425 metres and to a depth of 350 metres and remains open for expansion both to the northwest and southeast along strike and to depth”.
- Endeavour Silver Corp. published drilling results from the Calicanto, Santa Fe and Misie-Karla veins at the Calicanto property in Zacatecas. Some of the highlighted results comprise: 1.2 m (TW) @ 10.5 g/Au, 42 g/t Ag; 1.0 m @ 4.39 g/t Au, 20 g/t Ag; 1.0 m @ 2.65 g/t Au, 15 g/t Ag; 0.8 m @ 0.26 g/t Au, 498 g/t Ag; 0.9 m @ 7.38 g/t Au, 141 g/t Ag; 2.7 m @ 2.05 g/t Au, 120 g/t Ag; 1.3 m @ 5.79 g/t Au, 121 g/t Ag; 1.1 m @ 5.54 g/t Au, 269 g/t Ag; 1.0 m @ 0.30 g/t Au, 589 g/t Ag. The Calicanto property is located close to El Compas mine, potentially providing further growth to the new operation.
- Goldcorp Inc. informed on its exploration efforts in Mexico. At its Santa Rosa project in Zacatecas, 7,624 m of diamond drilling have been completed in the first half of 2018, with 2,121 m in the second quarter. Santa Rosa “is interpreted as a quartz porphyry complex intruding a contemporaneous volcanic pile underlain by Lower Jurassic to Upper Cretaceous carbonate stratigraphy”. Drilling continues “to intersect broad low grade gold mineralization associated with dacitic porphyry dykes as well as high grade skarn style mineralization in adjacent carbonate rocks…”. On June 20, 2018, Minera Frisco, S.A.B. and Goldcorp entered into a JV arrangement to amalgamate 23,300 ha of exploration ground on the Mazapil Valley, with Goldcorp as manager overseen by a technical committee with equal representation. Drilling of the near-mine JV target Santa Cruz was commenced on the second quarter.
- Sable Resources Ltd. Released results from two drill holes on the Margarita vein at its Margarita property in Chihuahua. Results confirm vein strike continuity for at least 500 m to a depth of 50 m from surface. True width of the intervals is estimated to be 90% of the intercept, comprising 4.25 m @ 430 g/t Ag, 0.18% Pb, 0.66% Zn; 8.70 m @ 169 g/t Ag, 0.12% Pb, 0.59% Zn; 4.35 m @ 30 g/t Ag, 1.06% Pb, 0.56% Zn. Systematic drill testing will continue “along the 1.6 km of known extension of the Margarita vein and along the other three veins identified within the property limits”.
- Fresnillo PLC. released second quarter production results for 2018, period during which 234 K Oz Au and 15.34 M Oz Ag were produced. At the Fresnillo mine in Zacatecas 3.8 M Oz Ag, 10,953 Oz Au, 5,052 tonnes Pb, 7,979 tonnes Zn were produced from treating 620.9 K tonnes of ore @ 211 g/t Ag, 0.70 g/t Au, 0.9% Pb, 1.74% Zn. At the Saucito mine in Zacatecas, 5.23 M Oz Ag, 22,908 Oz Au, 5,327 tonnes Pb, 7,549 tonnes Zn were produced by processing 723.3 K tonnes of ore @ 263 g/t Ag, 1.28 g/t Au, 0.86% Pb, 1.64% Zn. At the Ciénega mine in Durango, 16,689 Oz Au, 1.52 M Oz Ag, 1,352 tonnes Pb, 1,231 tonnes Zn were produced by milling 330.9 K tonnes of ore @ 1.65 g/t Au, 166 g/t Ag, 0.67 % Pb, 0.77 % Zn. At San Julián in Chihuahua, production comes from two sources: phase I veins and phase II veins (disseminated). From phase I veins 19,584 Oz Au, 1.26 M Oz Ag, were produced from processing 289.8 K tonnes @ 2.12 g/t Au, 144.6 g/t Ag. From phase II veins (disseminated) 513 Oz Au, 2.27 M Oz Ag, 1,493 tonnes Pb, 5,254 tonnes Zn were produced by treating 540.3 K tonnes of ore @ 0.07 g/t Au, 156.7 g/t Ag, 0.42% Pb, 1.26% Zn. At La Herradura mine in Sonora, 117,886 Oz Au, 363 K Oz Ag were produced by processing 5.6 M tonnes of ore (33.6 M tonnes hauled) @ 0.76 g/t Au, 2.6 g/t Ag. At Nochebuena in Sonora, 45,308 Oz Au, 18 K Oz Ag were produced by treating 4.55 M tonnes of ore (22 M tonnes hauled) @ 0.54 g/t Au, 0.18 g/t Ag
- Coeur Mining Inc. reported second quarter 2018 financial results, including figures from its operations In Mexico. At Palmarejo in Chihuahua, 33,702 Oz Au, 2.07 M Oz Ag were produced by milling 344 .1 K tonnes of ore @ 3.42 g/t Au, 213.4 g/t Ag, with recoveries of 89.9% Au, 87.5% Ag.
- Agnico Eagle Mines Ltd. reported second quarter 2018 results, with figures from its Mexican operations. At Pinos Altos in Chihuahua, 603 K tonnes were processed at a rate of 6.626 tpd (tonnes per day) @ 2.43 g/t Au, to produce 43,646 Oz Au at a production cost of $796 per OZ Au. “In 2018, Pinos Altos is transitioning into a predominantly underground mining operation, with associated higher costs”. At La India in Sonora, 1.56 M tonnes of ore were processed at a rate of 17,099 tpd @ 0.65 g/t Au at a total cash cost of $691 per Au Oz. At the satellite operation Creston Mascota 255 K tonnes of ore were processed at a rate of 2,802 tpd @ 0.51 g/t Au to produce 8,716 Oz Au at a total cash cost of $978 per Au Oz.
- Silver Bull Resources Inc. closed the initial tranche of its private placement for gross proceeds of $2.83 M. An aggregate cash commission on the initial tranche of $184 K was paid (Sierra Mojada, Coahuila).
ON RESOURCES AND DEVELOPMENT
- Mexican Gold Corp. reported results from continued sampling at historical mines on the Changarro zone of its Las Minas property in Veracruz. The Changarro – La Perdida zone is 600 m East of the current resource, extends more than 400 m by 850 m on surface, and contains proximal (garnet-magnetite-sulfide) and distal (jasperoid-magnetite-tremolite-wollastonite) skarn mineralization. Highlighted results include 2 m @ 5.1 g/t Au, 14 g/t Ag; 2 m @ 5.0 g/t Au, 2 g/t Ag; 1.4 m @ 11.1 g/t Au, 1 g/t Ag; 2 m @ 27.3 g/t Au, 12 g/t Ag; 2 m @ 16.7 g/t Au, 12 g/t Ag; 2 m @ 7.8 g/t Au, 3 g/t Ag.
- SilverCrest Metals Inc. released drilling results from the drilling of the Babicanora Norte vein at its Las Chispas property in Sonora. Some of the highlighted intercepts (TW) comprise: 2.2 m @ 61.4 g/t Au, 2,833 g/t Ag (including 0.4 m @ 305 g/t Au, 13,889 g/t Ag); 1.4 m @ 1.88 g/t Au, 206 g/t Ag; 1.2 m @ 2.89 g/t Au, nil Ag; 1.3 m @ 1.50 g/t Au, 176 g/t Ag; 1.4 m @ 51.43 g/t Au, 2,838 g/t Ag (including 0.4 m @ 153.5 g/t Au, 7,430 g/t Ag); 2.1 m @ 6.54 g/t Au, 795 g/t Ag. Argentite, native silver, chalky white silver oxides, free gold, acanthite and polybasite (Las Chispas is a famous site locality for polybasite crystals) have been identified in the mineralized intervals. The vein has now high-grade intercepts over 900 m of longitude and 75 to 125 m in height. A new unnamed vein between the Babicanora and Babicanora Norte veins has also been identified, returning 0.5 m @ 2.43 g/t Au, 182 g/t Ag; 0.5 m @ 2.80 g/t Au, 198 g/t Ag.
- Endeavour Silver Corp. informed that the El Compas mine in Zacatecas currently has an output of 250 tonnes per day (tpd). The La Plata mill has completed commissioning, and ramp up has taken production to 170 tpd, aiming to end July with a 250 tpd throughput. Management forecasts commercial production will be achieved during the current quarter.
- Coeur Mining Inc. informed that, at its Palmarejo property in Chihuahua, as many as four rigs continued targeting expansion of the Nacion and Zapata resources and definition of the recently-discovered Madero and Rampa veins and the Jacobo and Portales veins. “Up to three rigs focused on capitalized, resource conversion drilling at Independencia and Guadalupe. Both expansion and conversion drilling levels are expected to continue at the current accelerated pace throughout the second half of the year”.
- Agnico Eagle Mines Ltd. informed that its Pinos Altos mine in Chihuahua is transitioning into a predominantly underground mining operation with associated higher costs, reason for which the development of satellite deposits is key to the operation. During the Q2 development of the Sinter and Cubiro satellite deposits continued, with Sinter envisaged as an underground an open pit operation and Cubiro as an underground operation with the potential to supply high-grade ore. Other deposit, Reyna de Plata, hosts 110 K Oz Au, 3.9 M Oz Ag (5.8 M tonnes @ 0.59 g/t Au, 21 g/t Ag) at open pit depth, as well as 93 K Oz Au, 1.4 M Oz Ag (1.2 M tonnes @ 2.35 g/t Au, 35 g/t Ag) at underground depth. “There is growth potential down-dip from the 2.5-kilometre-long deposit and along an additional 1.5 kilometres of structure immediately to the east of the deposit”. “Recent results at Madrono are encouraging for the potential of open pit deposits in the Madrono, Santa Martha and Madera veins, as well as significant high gold grades supporting a potential underground mining scenario”.
- Agnico Eagle Mines Ltd. disclosed that exploration for satellites deposits to its La India mine in Sonora is focusing ate the El Realito zone, 1.5 Km to the NE. Initial indicated mineral resources of 112 K Oz Au, 643 K Oz Ag (5.0 M tonnes @ 0.70 g/t Au, 4 g/t Ag and inferred resources of 18 K Oz Au, 97 K Oz Ag (1.4 M tonnes @ 0.40 g/t Au, 2 g/t Ag) have been declared. In here mineralization is associated to steep parallel structural corridors of breccia that brought precious metals into favorable volcanic rock layers. El Realito remains open to the NE and SW.
- Agnico Eagle Mines Ltd. acquired the 42,000 ha Santa Gertrudis gold property in Sonora in November 2017. “Three favorable geological trends with a potential strike length of 18 kilometres have been identified on the property with limited drilling between deposits”. To the end of Q2 2018, 9,152 m have been drilled in 54 holes mainly in three zones: Corral, Greta and Cristina (more than 4 km apart from each other). Some of the highlighted results include: At Greta, 9.4 m @ 4.7 g/t Au, 18 g/t Ag; 7.5 m @ 1.1 g/t Au; 9.9 m @ 5.3 g/t Au; 6.8 m @ 0.4 g/t Au, 15 g/t Ag; 4.4 m @ 1.2 m g/t Au, 13 g/t Ag. At Cristina, 69.7 m @ 1.0 g/t Au, 5 g/t Ag; 40.8 m @ 0.9 g/t Au, 8 g/t Ag. At Corral, 21.5 m @ 0.9 g/t Au, 2 g/t Ag; 7.7 m @ 1.5 g/t Au, 15 g/t Ag; 13.3 m @ 2.1 g/t Au, 9 g/t Ag.
- Agnico Eagle Mines Ltd. informed that on the first half of 2018 57 diamond drill holes (19,124 m) were completed at its El Barqueño property in Jalisco. “Approximately 35,000 metres of drilling is expected to be completed in 2018 at the El Barqueno project, with a principal focus on testing new target areas. Exploration expenditures in 2018 are expected to total approximately $9.7 million”.
- Excellon Resources Inc. announced an updated mineral resource estimate for the Platosa mine in Durango. The updated resource includes 17,120 m of additional surface and underground drilling completed from August 2016 to March 2018. Indicated resources comprise 485 K tonnes @ 549 g/t Ag, 5.6% Pb, 5.9% Zn, containing 8.56 M Oz Ag, 59.7 M Lb Pb, 62.9 M Lb Zn; inferred resources comprise 13 K tonnes @ 516 g/t Ag, 4.7% Pb, 6.5% Zn, containing 216 K Oz Ag, 1.34 M Lb Pb, 1.86 M Lb Zn. Two diamond rigs are testing near mine targets to the north and west of the mine. At the Jaboncillo target, detailed mapping, surface sampling and an initial 3D induced polarization survey were carried out during the second quarter.
- Minera Alamos Inc. submitted to SEMARNAT (environmental agency) the studies to expand its Santana project operations in Sonora. Granting of the permit will provide the flexibility to go from a bulk mining test to commercial scale once the production decision is made.
ON DEALS AND CORPORATE ISSUES
- Discovery Metals Corp. No relevant news.
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, derelict buildings on the Pozos District, Guanajuato. Picture by Jorge Cirett.