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

Banded quartz texture

By Miguel A Heredia

During the 45th week of the year (November 5th to November 11th, 2018), at least 36 press releases were announced by companies working in Mexico, with thirteen communicating mining activities, seven disclosing deals and corporate issues, seven informing on exploration results, six announcing financing issues, and 3 reporting on advances on their properties. ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Aloro commenced the road construction and building of drill pads on its Los Venados project, San Marco Resources announced the commencement of a drilling program at its Chunibas project, Sonoro reported drill results from its Cerro Caliche project, and Minaurum discovered two new vein zones at its Alamos Silver project. In Coahuila, Discovery Metals completed a 40 line-km ground magnetometer survey at its Monclova project.  ON MINING, Alio Gold, Americas Silver, Argonaut, Avino, Consolidated Zinc, First Majestic, Fortuna Silver, Hecla, Pan American Silver, Premier Gold, Santacruz Mining, and US Antimony reported production results from their Mexican operations. ON FINANCING, Auxico Gold closed a non-brokered private placement for $315K. GoGold closed the US$12M sale of the Santa Gertrudis royalty with Metalla Royalty and Streaming Ltd. Impact Silver announced a non-brokered private placement to raise up to $1.5M. Telson Mining received $5M from Trafigura Mexico for the second tranche of the loan agreement announced on December 18, 2017. Silver Spruce consolidated its common shares and proposed to complete a non-brokered private placement to raise up to $1.5M. Golden Minerals reported its Q3 2018 financial results. ON RESOURCES AND DEVELOPMENT, Kootenay designed a drilling program aimed to expand resources at its la Cigarra deposit in Chihuahua. Hecla released in-fill drilling results for its San Sebastian mine in Durango. ON DEALS AND CORPORATE ISSUES, Capstone Mining made reductions to its organizational structure (Cozamin mine, Zacatecas). Defiance Silver and ValOro Resources signed a definitive merger agreement (San Acacio project, Zacatecas). Golden Goliath announced that Desarrollos Mineros El Aguila (subsidiary of Fresnillo plc) exercised the option agreement on its Uruachic project in Chihuahua. New Gold (Cerro San Pedro mine, San Luis Potosi) and Prize Mining (Manto Negro project, Coahuila) appointed their Chief Financial Officer respectively. Golden Reign and Marlin Gold completed business combination to form Mako Mining Corp (La Trinidad mine, Sinaloa).

ON MEXICO ISSUES

No relevant news.

ON EXPLORATION

  • Aloro Mining Corp., commenced a 3.6km road construction and building of 12 permitted drill pads at its Los Venados project in Sonora. “The road construction will open up new exposures for sampling in mineralized areas and structure that were previously undercover”.
  • San Marco Resources, commenced a drilling program at its Chunibas project in Sonora where they have a JV agreement with Antofagasta plc. The drilling program will consists of initial 1,500m comprised in six holes with the goal of testing down dip and along strike high-grade Cu-Ag mineralized mantos hosted in volcanic rocks in different stratigraphic levels. The manto-type mineralization has been identified along a corridor of 1.7km long and at least 300m wide.
  • Sonoro Metals Corp., reported results from the initial 13 drill holes from its Cerro Caliche project in Sonora. Significant intersections are: Hole SCR-002 with 27.43m of 0.6 g/t Au and 7 g/t Ag; Hole SCR-003 with 30.48m of 0.5 g/t Au and 8 g/t Ag; Hole SCR-004 with 39.62m of 0.9 g/t Au and 9 g/t Ag, including 6.09m of 2.9 g/t Au and 20 g/t Ag; Hole SCR-005 with 10.67m of 0.7 g/t Au and 21 g/t Ag, and 10.67m of 0.6 g/t Au and 1 g/t Ag; Hole SCR-006 with 10.67m of 1.2 g/t Au and 21 g/t Ag, including 6.1m of 2 g/t Au and 26 g/t Ag; Hole SCR-007 with 22.86m of 0.9 g/t Au and 13 g/t Ag, including 4.57m of 2.2 g/t Au and 20 g/t Ag; and SCR-008 with 36.58m of 0.5 g/t Au and 4 g/t Ag. “The drilling has further confirmed that mineralization in the Los Japoneses zone remains open in all directions, including at depth.”
  • Minaurum Gold Inc., discovered two new vein zones at its Alamos Silver project in Sonora: the San Jose vein, a NNE trend structure hosted in a fault zone which can be traced for at least 3km long, and the Santa Rosa vein, a stringer-quartz veinlets structural zone that runs for at least 300m along strike. The discovery of the new veins was through its ongoing district-scale reconnaissance program. Sampling on the San Jose vein returned grades ranging from anomalous up to 1,995 g/t Ag, 2.5% Cu, and 1.9% Zn, while sampling on the Santa Rosa vein only retuned anomalous values.
  • Discovery Metals Corp., completed a 40 line-km ground magnetic survey at its Monclova project in Coahuila to cover three targets: Real Viejo with 23 lines spaced 50m apart, Corrales with 17 lines spaced 100m apart, and Soledad with 12 lines spaced 50m apart. “Results of the Real Viejo survey highlight a linear magnetic high parallel to the mapped mineralized and altered zone along the southern boundary of the Monclova intrusive complex centered on the Project. This suggests continuity of the alteration and/or mineralization along the contact and provides support for the holes planned to test this zone. Interestingly, similar magnetic high zones occur across the neighboring Corrales target. Both linear magnetic highs as well as linear lows are highlighted by the survey and represent prospective targets on the Project. Results at the northern Soledad grid also highlight similar geometries”.

ON MINING

  • Alio Gold Inc., reported Q3 production results from its San Francisco mine in Sonora. Alio produced 11.6K Oz Au and 3.9K Oz Ag at an AISC of $1,315 per Oz produced.
  • Americas Silver Corporation, produced 323K Oz Ag, 7.5M Lb Pb, and 7.9M Lb Zn during the Q3-2018 from its Cosala operations in Sinaloa and Galena Complex in Idaho.
  • Argonaut Gold Inc., announced Q3 2018 production results from their Mexican operations. At the El Castillo mine in Durango, Argonaut mined 2, 267,000 tonnes of 0.33 g/t Au, to produce 10.3K Oz Au and 4.8K Oz Ag (10.4K GEOs or Gold Eq Oz). At the San Agustin mine in Durango, the company mined 1, 747,000 tonnes of 0.34 g/t Au to produce 15.7K Oz Au and 52.9K Oz Ag (16.5K GEOs). At its La Colorada mine in Sonora, Argonaut mined 1.2M tonnes of 0.33 g/t Au to produce 7K Oz Au and 16.2K Oz Ag (7.3K GEOs).
  • Avino Silver & Gold Mines Ltd., milled 193, 645 tonnes during Q3 2018 to produce 2.2K Oz Au, 342K Oz Ag, and 992K Lb Cu (704.4K Oz Ag Eq) at an AISC of $11.15 per payable Oz Ag Eq.
  • Consolidated Zinc Limited, reported the October 2018 production from its Plomosas mine in Chihuahua. The company milled 237 tonnes of 12.9% Zn and 3.3 % Pb to produce 68.3K Lb Zn and 17.6K Lb Pb.
  • First Majestic Silver Corporation, released Q3 2018 production results from their Mexican operations. The table below shows the quarterly operating and cost parameters at each of the mining operations:

  • Fortuna Silver Mines Ltd., milled 262, 710 tonnes during Q3 2018 at grades of 1.6 g/t Au and 258 g/t Ag to produce 12.4K Oz Au and 1.99M Oz Ag, with metallurgical recoveries of 91% for Au and Ag.
  • Hecla Mining Company, released Q3 production results from its San Sebastian mine in Durango. During Q3 2018, Hecla produced 3.7K Oz Au and 522K Oz Ag.
  • Pan American Silver Corp, reported Q3 2018 production results from each of their mining operations. At La Colorada, Zacatecas the company produced 1.1K Oz Au and 2M Oz Ag. At its Dolores mine in Chihuahua, Pan American Silver produced 33.1K Oz Au and 1M Oz Ag.
  • Premier Gold Mines Limited, announced Q3 2018 production results from its Mercedes mine in Sonora. The company processed 159,608 tonnes of 3.52 g/t Au and 39 g/t Ag with metallurgical recoveries of 96.6% and 43.7% respectively, to produce 17.5K Oz Au and 88.4K Oz Ag at an AISC of $1,059 per Oz produced.
  • Santacruz Silver Mining , released Q3 2018 production results from their Mexican mining operations.  At Veta Grande, Zacatecas, the company processed 42,011 tonnes with 0.26 g/t Au, 77 g/t Ag,  0.8% Pb and 1.94 % Zn to produce  140 Oz Au, 62.2K Oz Ag, 590.8K Lb Pb and 952.4K Lb Zn. At El Rosario, San Luis Potosi, Santacruz processed 15,965 tonnes of 0.26 g/t Au, 0.2% Pb and 1.6% Zn to produce 85 Oz Au, 18.4K Oz Ag, 72.7K Lb Pb, and 467.4 Lb Zn.
  • Torex Gold Resources Inc., processed 1,246,000 tonnes with 2.6 g/t Au during Q3 2018 from its El Limon-Guajes Mine Complex in Guerrero. The quarterly production was 100.4K Oz Au with a metallurgical recovery of 89%.
  • US Antimony Corporation, released its September and October 2018 production results. In September, US Antimony produced 141.2 K Lb Sb and 1,394 tonnes of zeolites, while in October produced 123.5 Lb Sb and 1,065 tonnes of zeolites.

ON FINANCING

  • Auxico Resources Canada Inc., closed a non-brokered private placement for gross proceeds of $315K (Zamora project, Sinaloa).
  • GoGold Resources Inc., closed the US$12M sale of its Santa Gertrudis royalty with Metalla Royalty and Streaming Ltd. GoGold took US$6M of the US$12M sale price in common shares of Metalla, which represent 9.9% of the Metalla shares outstanding.
  • Impact Silver Corp., announced a non-brokered private placement to raise up to $1.5M to explore its Zacualpan project in Mexico State for additional high potential precious metals as well as Au-Cu targets.
  • Telson Mining Corporation, received $5M from Trafigura Mexico S.A. de C.V., for the second tranche of the loan agreement for the construction of its 1,000 tpd Tahuehueto mine in Durango.
  • Silver Spruce Resources Inc., consolidated its common shares and proposed to complete a non-brokered private placement to raise up to $1.5M. The consolidation of its common shares is one new share for five old shares.
  • Golden Minerals Company, reported revenue of approximately $1.9M in Q3 2018 related to the oxide plant lease and costs of approximately $0.7M related to the services Golden provides under the terms of the lease, for a net margin of $1.2M. Other operating income of $3.2 million included $3.0 million from the sale of Golden’s remaining interest in the Celaya project in Guanajuato to The Electrum Group LLC, as well as pro‐rated income from the farm‐out of the Company’s Zacatecas properties to Santacruz Silver. Exploration expenses were $1.1 million in the third quarter, reflecting increased exploration and project evaluation activities at the Santa Maria project in Chihuahua as well as other projects in Mexico.

 

ON RESOURCES AND DEVELOPMENT

  • Kootenay Silver Inc., designed a program of 15,000m of drilling over 62 holes aimed to expand resources along the extensions of its La Cigarra deposit in Chihuahua. The drilling program will be conducted on four target areas where the company believes there is untested potential to increase resources. “The plan would entail primarily exploration step out drilling of known mineralization and some infill drilling of the successful La Borracha program earlier this year”. “The four areas Kootenay plans to target are the La Borracha high grade (the mineralized trend located 1,000 meters northwest from the northern boundary of the Resource), the La Borracha Connection (connecting La Borracha with the San Gregorio area of the Resource), Gap (a very under drilled area between the main San Gregorio and Las Carolinas zones that currently comprise the Resource) and the Carolinas Extension (the strike extension of the Resource to the southeast)”.
  • Hecla Mining Company, released in-fill drilling results for its San Sebastian mine in Durango. The in-fill drilling was conducted in the central portion of the polymetallic zone along the Francine Vein. Additionally, exploration core drilling was also conducted toward shallower oxide mineralization along the West and East Francine vein areas, the recently discovered South Vein, and at the Esperanza Vein target area. At the Francine vein, the in-fill drilling program intersected high grade mineralization. Highlights include 1.37m of 591 g/t Ag, 4.8% Cu, 16% Pb and 13.5% Zn and 2.25m of 227 g/t Ag, 1.8% Cu, 3.5% Pb, and 6% Zn. The drilling also intercepted narrow but high-grade mineralization along the East Francine vein on new zones of vein-hosted oxide mineralization. Significant intersections are 1.46m of 485 g/t Ag and 0.3 g/t Au, and 2.83m of 299 g/t Ag and 2.2 g/t Au. Mineralization in this area is defined over 1,200 feet along strike and 800 feet down-dip and this new zone could represent an important new source of oxide mineralization. At the West Francine vein, the drilling program encountered also narrow intervals of high grade. Highlights include 0.64m of 1,791 g/t Ag and 0.62 g/t Au. Mineralization in this area is open laterally and at depth. Follow-up, offset drilling is in progress. At the Esperanza vein, exploration drilling commenced but results are pending. Reconnaissance RC drilling discovered a new blind vein under soil cover in the Saladillo Valley. This new vein, referred as the South vein, intercepted significant mineralized intervals such as 2.83m of 392 g/t Ag and 2.5 g/t Au, 2.86m of 187 g/t Ag and 0.93 g/t Au, and 2.86m of 174 g/t Ag and 1.24 g/t Au. Drilling for the remainder of the year will continue to focus on expanding resources and evaluate near-surface oxide mineralization at the West Francine Vein, South Vein, and Esperanza Vein areas.

ON DEALS AND CORPORATE ISSUES

  • Capstone Mining Corp., announced management changes and made reduction of its organizational structure to improve financial and operating performance and save approximately $5M per year in corporate general and administrative expenses (Cozamin mine, Zacatecas).
  • Defiance Silver Corp., and ValOro Resources Inc., signed a definitive merger agreement dated on November 5, 2018. The ValOro shareholders will receive 0.71 common shares of Defiance for each share of ValOro held. “Upon completion of the Transaction, the combined company will have approximately 119 million common shares outstanding, of which former shareholders of Defiance will own approximately 87% and the former shareholders of ValOro will own approximately 13%” (San Acacio project, Zacatecas).
  • Golden Goliath Resources Ltd., announced that Desarrollos Mineros El Aguila S.A. de C.V., a wholly subsidiary of Fresnillo plc, exercised the option agreement on its Uruachic project in Chihuahua by making a final payment of US$2.3M. Golden Goliath still holds a royalty on the several optioned properties in the Uruachic mining district.
  • Golden Reign Resources and Marlin Gold Mining Ltd., completed business combination to form Mako Mining Corp. Prior to the closing of the arrangement, the companies completed the amendment to the Gold Purchase Agreement with Sailfish Royalty Corp., and the Marlin reorganization.

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, banded quartz texture in a hot spring epithermal system in Durango, Mexico.  Photo by Miguel A Heredia.

TAMINO MINERALS STARTS EXPLORATION PROGRAM AND FINANCING UPDATE

tamino-minerals-starts-exploration-program-and-financing-update

Tamino Minerals, Inc. ( OTC PINK : TINO ) is pleased to update its shareholders and followers on the exploration program and direct investment funding initiatives.

Tamino Minerals is actively working with its geologists to start the exploration program on 2 of our Mining Exploration Projects. The programs are expected to begin during Q3 2018 and last approximately 6 months.

GOLDPLAY PROVIDES A CORPORATE UPDATE ON ITS MEXICAN PROJECTS

GOLDPLAYNewsRelease-181005-FINAL

October 5, 2018, Vancouver, BC – Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF – the “Company” or “Goldplay”) is pleased to provide a corporate update on the Company’s Mexican projects. While the current focus is on updating the resource on the San Marcial Project, plans are being finalized for the exploration of new targets on the El Habal Project, both located in the rich Rosario Mining District of Sinaloa, Mexico.

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

 

Bladed quartz texture

By Miguel A Heredia

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

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

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

ON MINING

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

ON FINANCING

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

 

ON RESOURCES AND DEVELOPMENT

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

ON DEALS AND CORPORATE ISSUES

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

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

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

 

Evrim extends outcropping gold mineralization at Cuale and defines a new drill target over 1,000 metres northwest of La Gloria trenches

evrim_2018-09-25-NR

Vancouver B.C. — September 26, 2018Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is pleased to announce new trenching, rock chip and geophysical results from the Phase 3 exploration program at its 100%-owned Cuale high sulphidation epithermal gold project in Jalisco, Mexico.The new trenches extend the La Gloria outcropping mineralization to the southwest where continuous mineralization remains open, while the Controlled Source Audio-magnetotellurics (CSAMT) geophysical survey confirms at least 200 metres of depth potential directly beneath the trenches.Rock chip sampling has defined a 1,430 metre northwest trend of gold mineralization and confirms a new drill target at the North Dome over 1,000 metres northwest of the La Gloria trenches.

Riverside Outlines Four New Target Areas At The Cecilia Project In Sonora, Mexico

Riverside_11092018_nr

September 11, 2018 – Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSXV: RRI) (OTCQB: RVSDF) (FSE: R99), is pleased to have received the first set of regional soil geochemistry from the Cecilia 1 concession at the 100%-owned Cecilia Gold Project (the “Project”) in northeastern Sonora, Mexico. The soil survey covered approximately 30% of the recently acquired 50 km2 Cecilia 1 concession (see Figure 1 and press release dated March 5, 2018), and has expanded the targeting around the previously known central Cerro Magallanes area of the Cecilia Project. The Company continues to advance and refine the known central targets and is also placing equal priority on new property-wide target generation.

Radius Gold mobilizes drill team for Amalia Project, Mexico and defines drill targets at Coyote Project, Elko, Nevada

Radious_Aug272018

Vancouver, Canada: Radius Gold Inc. (TSX-V: RDU) is pleased to announce mobilization of a drill team to explore Radius’s high-grade gold-silver Amalia Project located in Chihuahua, Mexico. The drill program, operated by Radius and funded by Pan American Silver, is expected to commence in September. Radius is also pleased to announce it has completed a large detailed CSAMT geophysical survey, geological mapping and geochemical sampling at its 100% owned Coyote hot-springs epithermal gold project near Elko, Nevada and is on track to commence Radius-funded drilling this season at Coyote.

DRILLING COMMENCES AT ALACRÁN

AzureMinerals_180827

Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to advise that project operator Minera Teck S.A. de C.V. (Teck), a 100% owned subsidiary of Canada’s largest diversified resource company, Teck Resources Limited, has commenced its second drilling campaign on the Alacrán Project (“Alacrán” or “project”), located in Sonora State, Mexico

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

naranjillo_gto 1 - copia

By Jorge Cirett

During the 34th week of the year (August 20th to August 26th, 2018), at least 17 press releases were announced by companies working in Mexico. Aztec Minerals, Discovery Metals, and SilverCrest Metals released advances in exploration. Grupo Mexico and Santacruz Silver Mining released its Q2 2018 results. SilverCrest Metals, Silver Bull, Avino Silver and Prize Mining reported news on financing. Azure Minerals reported advances on the PEA and new drilling of one of its projects. ON MEXICO ISSUES, The Mexican Core Shack now counts with displays from three properties in Chihuahua, two in Durango and two in Estado de Mexico. ON EXPLORATION, In Sonora, Aztec Minerals released results from surface sampling along drill roads on its Cervantes project. In Coahuila, Discovery Metals released results from underground sampling at its Puerto Rico project.   ON MINING Grupo Mexico and Santacruz Silver released its Q2 2018 reports. Grupo Mexico is to re-open its San Martin mine in Zacatecas.  ON FINANCING, Silver Bull and Prize Mining closed final tranches of financing for gross proceeds of US$3.79 M and $7.62 M respectively. ON RESOURCES AND DEVELOPMENT, Azure Minerals is advancing the PEA on its Oposura property in Sonora, and announcing a new drilling campaign. SilverCrest released more drilling results from its Las Chispas project in Sonora. ON DEALS AND CORPORATE ISSUES, Alio Gold announced several changes in senior management, as well as at its corporate head office in Vancouver, related to the recent focus on its operating mines.

ON MEXICO ISSUES

ON EXPLORATION

  • Aztec Minerals Corp. released surface sampling results from the California prospect within its Cervantes project in Sonora. The rock chip channel samples were collected along drill roads, returning 75 m @ 0.11 g/t Au; 222 m @ 0.47 g/t Au; 84 m @ 0.40 g/t Au; 183 m @ 0.32 g/t Au; 81 m @ 0.53 g/t Au; 33 m @ 0.26 g/t Au; 111 m @ 0.02 g/t Au. Aztec’s CAD$182 K phase 2 exploration program “of geological mapping, rock, soil and sediment sampling and airborne magnetic and radiometric surveys is focused on better defining additional drill targets” on the 3,649 hectares property. Soil surveys highlight strong gold anomalies at the California north, Purisima East, Purisima West and Jacob soil grids, with individual samples returning up to 3.3 g/t Au. The Cervantes property is held under an option to purchase agreement with Kootenay Silver Inc.
  • Discovery Metals Corp. reported the second batch of underground channel sampling results from the San Jose mine at its Puerto Rico project in Coahuila. “San Jose contains approximately 630m of underground drifts and stopes over four levels (from bottom to top: the Chuyon, Haulage, Rope and Upper levels) that span an approximate vertical extent of 50m and cover a horizontal extent of approximately 80m by 80m. All four levels host strongly mineralized mantos, chimneys and faults. Channel samples were collected at 3-5m intervals along both sides of the entire length of the developed workings”. Individual samples are as high as 1.2 m @ 10 g/t Ag, 46.2% Zn, 0.2% Pb, 0.2% Cu; 0.7 m @ 154 g/t Ag, 38.2% Zn, 0.6% Pb, 0.1% Cu; 1.0 m @ 18 g/t Ag, 30.2% Zn, 0.1% Pb, 2.6% Cu; 1.0 m @ 445 g/t Ag, 3.5% Zn, 26.3% Pb, 0.6% Cu.discoverymetals_nr-2018-08-2311

ON MINING

  • Santacruz Silver Mining Ltd. reported operating results from the Veta Grande project in Zacatecas and the Rosario project in San Luis Potosi, for the second quarter 2018. At Veta Grande, 52 K tonnes @ 70 g/t Ag, 0.17 g/t Au, 1.14% Zn, 0.41% Pb (161 g/t AgEq) were processed, with a 45% Ag recovery, to produce 36.7 K Oz Ag, 59 Oz Au, 111 tonnes Pb, 164 tonnes Zn. At Rosario, 15.4 K tonnes @ 44 g/t Ag, 0.26 g/t Au, 2.54% Zn, 0.23% Pb (212 g/t AgEq) were processed, with 89% Ag recovery, to produce 19.4 K Oz Ag, 84 Oz Au, 31 tonnes Pb, 344 tonnes Zn.
  • Grupo México is to reopen its San Martin mine in Zacatecas, with an investment of US$77 M. The mine was closed eleven years ago due to a labor dispute with the Sindicato Nacional de Trabajadores Mineros, led by Napoleon Gomez Urrutia. The mine workers have now changed to the Sindicato Nacional de Trabajadores de la Exploración, Explotación y Beneficio en Minas de la República Mexicana, ending the closure by strike of the mine. The mine is to have a 32 years life span, creating directly 600 jobs and indirectly 3,000 more.
  • Grupo México reported its second quarter 2018 results. During the period sales increased 19%, while the EBITDA rose to US$1,316 M, and capital investments rose to US$434 M.

ON FINANCING

  • SilverCrest Metals Inc. has been approved to list its common shares on the New York Stock Exchange (Las Chispas, Sonora).
  • Silver Bull Resources Inc. completed the second and final tranche of its previously announced private placement, for aggregate gross proceeds of USD$957.5 K. Under the first tranche of the private placement Silver Bull accrued USD$2.831 M (Sierra Mojada, Coahuila).
  • Avino Silver & Gold Mines Ltd- filed a shelf registration statement on Form F-3 with the Securities and Exchange Commission (SEC), that is to allow the company to raise up to US$25 M (Avino, Durango).
  • Prize Mining Corp. closed the third and final tranche of the recently announced non-brokered private placement, raising $500 K and taking the total aggregate of gross proceeds to $7.62 M (Manto Negro, Coahuila).

ON RESOURCES AND DEVELOPMENT

  • Azure Minerals Ltd. announced that the preliminary economic assessment (PEA) on its Oposura project in Sonora remains on track to be reported in the third quarter of 2018. The study envisions open pit and room and pillar underground extraction. The resource includes 2.1 Mt (tonnes) @5.3% Zn, 2.9% Pb, 17.2 g/t Ag in the indicated category and 0.8 Mt @ 4.3% Zn, 2.5% Pb, 16.5 g/t Ag in the inferred category.
  • SilverCrest Metals Inc. announced new drill results from the Granaditas vein and the new Granaditas Dos vein at its Las Chispas property in Sonora. These veins are approximately 40 m apart and may intersect to the southeast. Highlighted true width (TW) intercepts include 1.2 m @ 5.6 g/t Au, 15 g/t Ag; 1.3 m @ 4.2 g/t Au, 229 g/t Ag; 1.2 m @ 3.10 g/t Au, 4.0 g/t Ag in the Granaditas vein, 0.5 m @ 1.8 g/t Au, 149 g/t Ag; 0.4 m @ 2.4 g/t Au, 421 g/t Ag; 2.9 m @ 294 g/t Ag; 1.2 m @ 1.2 g/t Au, 162 g/t Ag in the Granaditas Dos vein and 0.9 m @ 1.0 g/t Au, 82 g/t Ag; 1.4 m @ 2.5 g/t Au, 799 g/t Ag in an unnamed vein. The high-grade footprint in the Granaditas Vein currently measures approximately 200 m long by 200 m high and is open in most directions. The high-grade footprint in the Granaditas Dos (2) Vein currently measures approximately 100 m long by 100 m high and is open in most directions.
  • Azure Minerals Ltd. recommenced drilling at its Oposura project in Sonora. This campaign is focused on infill drilling and more widely spaced resource extensional drilling.

ON DEALS AND CORPORATE ISSUES

  • Alio Gold Inc. announced changes related to the recent focus on its operating mines San Francisco in Sonora and Florida Canyon in Nevada, which include the previously announced temporary suspension of exploration and development at its Ana Paula project in Guerrero, and the here stated termination of the Vice-president of project development Project Manager and the Chief Executive Officer. “The Company has also taken steps to reduce costs at the Ana Paula project site in Mexico while maintaining a level of local employment and community engagement…..the Company has also implemented a number of changes at its corporate office in Vancouver which in total are expected to reduce the corporate overhead by approximately $1.2 million over the next 12 months.“
  • Defiance Silver Corp. renegotiated and extended the terms of its San Acacio Project option agreement. “The project vendor has agreed to postpone a substantial amount of the payments due in 2018 to September 27, 2020. As a result, Defiance will be making four quarterly payments of US$226,900 totaling US$907,600 in year one and four quarterly payments of US$250,000 totaling US$1,000,000 in year two with the final option payment due September 2020.”

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, the silicified and alunite bearing ridge beyond the farming fields is interpreted as the water table interface in a shallow epithermal system, in Guanajuato. Picture by Jorge Cirett.