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

 

By Miguel A Heredia

During the 19th week of the year (May 7th to May 13th, 2018), at least 40 press releases were announced by companies working in Mexico, with eight informing on exploration results, nine reporting Q1 2018 results, four announcing financing, sixteen communicating deals and corporate issues, and  seven reporting on resources & development. ON MEXICO ISSUES, Fernando Alanis Ortega was appointed President of CAMIMEX for the period 2018-2010. Investment in the mining sector reached $4,287 M USD in 2017, representing an increase of 14.3%. ON EXPLORATION, In Sonora, Colibri Resource reported drilling results at its El Pilar project, and Azure provided an update on its El Alacran project. In Chihuahua, Sable commenced a 4,000m diamond drill program on its Margarita project; Prospero and Fortuna revised its 2018 work program for Bermudez and Trias projects in Chihuahua, and Buenavista project in Durango.  In Zacatecas-Durango, Canasil announced plans to resume drilling at its La Esperanza project. In Guerrero, Alio announced that a regional exploration work is underway on its Ana Paula project. In Oaxaca, Megastar signed an option agreement to acquire a mining project. ON MINING, Alio Gold, Pan American Silver, Americas Silver, Excellon, GoGold, Hecla, Premier Gold, and Torex reported Q1 2018 results from their Mexican operations. Gainey completed upgrade of its Huajicori mill in Nayarit. ON FINANCING, Almaden announced a non-brokered private placement for $7M.  Minaurum raised $4.7M in its first tranche of a total $6M non-brokered private placement. Prize Mining announced a non-brokered private placement for $2M. Silver Spruce closed a non-brokered private placement for $287.7K. ON RESOURCES AND DEVELOPMENT, Alio initiated the construction of a 1,200m underground decline at its Ana Paula project in Guerrero. Hecla provided an exploration update on its San Sebastian Mine.  Leagold reported underground drilling results for its Los Filos mine in Guerrero. Premier Gold filed a technical report for its Mercedes mine in Sonora.  Sierra Metals reported mine development at its Cusi and Bolivar mines in Chihuahua during Q1 2018 period. US Antimony reported progress on the construction of the leach plant for the Los Juarez Au-Ag-Sb deposit in Queretaro. ON DEALS AND CORPORATE ISSUES, Alamos Gold, Endeavour, Excellon, and Fortuna reported results of its 2018 annual general meetings. Alamos also announced changes to its Board of Directors. Almadex approved spinout transaction. Great Panther announced the departure of its COO. Canuc announced the appointments of its CFO and Corporate Secretary. New Gold announced the appointment of its President and CEO. Candente reached an agreement with 3rd Eye Research to retain IR services. First Majestic completed the acquisition of Primero Mining. Goldplay received approval on the San Marcial option agreement in Sinaloa with SSR Mining. One World Lithium announced the granting of stock options. Primero announced receipt of Mexican antitrust clearance for arrangement with First Majestic. MX Gold signed a definitive agreement to sell interest at its Magistral project in Durango.

ON MEXICO ISSUES

  • Fernando Alanis Ortega, was appointed President of the Mexican National Chamber of Mines (CAMIMEX) for the period 2018-2010, replacing the outgoing Daniel Chavez Carreon.
  • CAMIMEX, reported that the investment in the mining sector reached $4,287 M USD in 2017. Although this represents an increase of 14.3% over the previous year, it is still 48.5% lesser that the invested record in 2012 which reached $8,043M USD.

ON EXPLORATION

  • Colibri Resource Corporation, reported drilling results from its El Pilar project in Sonora. Highlights are 9m of 8.16 g/t Au, including 1.5m of 33.4 g/t Au. The company has completed 2,117m in 20 RC holes “aimed to test for continuity within previously interpreted zones of mineralization, test for extensions to the known mineralization, and explore locally for new zones of gold mineralization”.
  • Azure Minerals Limited, provided an update on results from its El Alacrán project in Sonora, currently operated by Minera Teck S.A. de C.V. Teck drilled 14 holes to test extensions of Au mineralized zones at Loma Bonita area. Results suggest potential expansion of the Loma Bonita epithermal Au-Ag mineralized system at depth south towards Cerro San Simon, where four holes were drilled to test resistivity anomalies. Teck also drilled four holes at Cerro Colorado Zone to test mapped targets and geophysical anomalies generated by IP surveys and airborne magnetics, confirming potential for porphyry copper mineralization. Geological, geochemical and geophysical surveys are being carried out in H1, 2018 and will be followed by further drilling in H2, 2018.
  • Sable Resources Ltd., commenced a 4,000m diamond drill program to test 1.7km of Ag-bearing epithermal quartz veins at its margarita project in Chihuahua. The aim is to test for high-grade precious metal horizon 200m below mineralized surface samples.
  • Prospero Silver Corp., and Fortuna Silver Mines Inc., revised its 2018 exploration program, deciding to conduct a 6,000m drill program to test targets at its Buenavista, project in Durango, as well as at its Bermudez and Trias projects in Chihuahua.
  • Canasil Resources Inc., announced plans to resume drilling at its La Esperanza project in Zacatecas-Durango. The drill program was designed to test the northwestern and southeastern extension of the La Esperanza vein 50m below of the high grade found in hole ES-17-16.
  • Alio Gold Inc., announced that a regional exploration work is underway on its Ana Paula project in Guerrero which includes an airborne magnetic survey targeting further breccia or skarn targets.
  • Megastar Development Corporation, signed an option agreement with Paradex Inc., and Minera ZalameraA. de C.V., to acquire 100% of the Rama de Oro project in Oaxaca. “The Project is hosted by caldera-related Tertiary volcanic rocks (e.g. El Aguila model) crosscut by hydrothermal veining inferred to be related to late-stage granitic magmatism locally exposed as dikes and underlying the adjacent ‘Nueve Puntos’ mountain”. Exploration work on the property has identified a 4 square-Km zone of quartz veining, silicification, and clay alteration of volcanic rocks. Sampling on this altered zones have returned anomalous values of Au, Ag, As, Hg, and Sb, suggesting the upper part of a precious metal epithermal system.
  • Prize Mining Corporation, reported sampling results at its Manto Negro Copper project in Coahuila. Significant results include 6m of 2.73% Cu and 58 g/t Ag, 5.2m of 1.78% Cu and 40 g/t Ag, and 7m of 1.65% Cu and 36 g/t Ag.

ON MINING

  • Alio Gold Inc., announced Q1 results from its san Francisco mine in Sonora, Alio produced 17.6K Oz Au and ~9K Oz Ag at an AISC of $1,262 per Oz Au.
  • Pan American Silver Corp., reported results from its Dolores and La Colorada mines in Chihuahua and Zacatecas states respectively. Au and Ag production during the period of Q1, 2018 was 34.4K Oz Au and 1.2M Oz Ag at Dolores mine and 1K Oz Au and 1.65M Oz Ag at La Colorada mine.
  • Americas Silver Corporation, reported Q1 2018 results from its Cosala operations in Sinaloa. Americas processed 163.8K tonnes to produce 397K Oz Ag, 7.6 M Lb Pb, and 7.3M Lb Zn.
  • Excellon Resources Inc., reported Q1 2018 results from its La Platosa mine in Durango. The company processed 18.9K tonnes (including 5.9K tonnes of historical stockpile) at average grades of 359 g/t Ag, 3.8% Pb, and 6.4% Zn to produce 194.5K Oz Ag, 1.3M Lb Pb, and 1.8M Lb Zn.
  • Gainey Capital Corp., completed upgrade of its Huajicori mill in Nayarit to process 300 tonnes per day.
  • GoGold Resources Inc., announced Q1 2018 results from its Parral Tailings project in Chihuahua. The company stacked 439.3K tonnes on the leach pad to produce 265.6K Oz Ag and 1908 Oz Au.
  • Hecla Mining Company, reported Q1 2018 results from its San Sebastian mine in Durango. The mine produced 512K Oz Ag and 4,500 Oz Au.
  • Premier Gold Mines Limited, announced Q1 2018 results from its Mercedes mine in Sonora. The company milled 168.3K tonnes of 2.91 g/t Au and 31.8 g/t Ag to produce 15K Oz Au and 57.4K Oz Ag.
  • Torex Gold Resources Inc., reported Q1 2018 results from its El Limón-Guajes Mine Complex in Guerrero. Torex processed 785K tonnes of 3.29 g/t Au to produce 67.2K Oz Au at an AISC of $954 per ounce.

ON FINANCING

  • Almaden Minerals Ltd., announced a non-brokered private placement for $7M. Net proceeds will be used for exploration and development of its Ixtaca project in Puebla.
  • Minaurum Gold Inc., raised $4.7M in its first tranche of a total $6M non-brokered private placement. Net proceeds will be used for its ongoing exploration program at the Alamos Silver project in Sonora.
  • Prize Mining Corporation, announced a non-brokered private placement for $2M. Net proceeds will be used to conduct a geological, diamond drill and engineering assessment on its Manto Negro Copper project in Coahuila The aim is to produce a 43-101 compliant mineral resource.
  • Silver Spruce Resources Inc., closed a non-brokered private placement for $287.7K. Net proceeds will be used at Its Pino de Plata project in Chihuahua, aimed to drill target sites on the property.

ON RESOURCES AND DEVELOPMENT

  • Alio Gold Inc., initiated the construction of a 1,200m underground decline at its Ana Paula project, which is expected to be completed in Q3 2018. It will enable commencement of the first phase of the proposed underground diamond drill program, which will consist of 12,000 m in 55 holes. The company completed a six-hole 3,800m drill program below the proposed open pit to better define the geometry of the complex high-grade breccia and know the mineralization extent. Alio is also currently carrying out a drilling program on a high priority surface target 150m north of the proposed open pit, on which a detailed geological mapping at a scale 1:2,000 will be conducted.
  • Hecla Mining Company, provided and exploration update on its San Sebastian mine in Durango. An Infill drill program is been conducted to expand high-grade polymetallic zones similar to the Hugh Zone on the Middle and Francine veins, as well as oxide mineralization along the Professor and Francine veins. Significant results are 1.34m of 135 g/t Ag, 23.5% Pb, 18.5% Zn, and 7.9% Cu on the polymetallic zone, and 1.58m of 1,200 g/t Ag and 4.98 g/t Au on the oxide mineralization. At West Middle vein, the most significant intercepts are 1.34m of 317 g/t Ag, 10.1% Pb, 18% Zn, and 3% Cu, and 0.85m of 304 g/t Ag, 8.5% Pb, 9.4% Zn, and 3.8% Cu.
  • Mexican Gold Corp., reported step-out drilling results from the El Dorado / Juan Bran and Santa Cruz zones within its Las Minas projects in Veracruz. Significant interceptions are 8m of 1.06 g/t Au and 6 g/t Ag, including 6m of 1.36 g/t Au and 8 g/t Ag; 6m of 2.52 g/t Au and 10 g/t Ag; 14m of 1.96 g/t Au and 0.3 g/t Ag, including 6m of 3.49 g/t Au and 0.5 g/t Ag; and 24m of 1.24 g/t Au and 3 g/t Ag, including 10m of 2.12 g/t Au and 4 g/t Ag. The drill results tested the continuity of mineralization at El Dorado / Juan Bran zone and extended the mineralized zone to depth as well as cutting multiple mineralized intervals in the upward extension of the Santa Cruz zone.
  • Leagold Mining Corporation, reported underground drilling results for its Los Filos mine in Guerrero. Highlights are 4.1m of 24.2 g/t Au, 6.95m of 23.6 g/t Au, and 9.1m of 8.7 g/t Au from the Nukay, Conchita and Creston Rojo deposits respectively. The aim of the drilling program which comprises over 12,000m to date from 62,000m planned for 2018 is to identify additional resources along the contact of the circular intrusive orebodies.
  • Premier Gold Mines Limited, filed a technical report to release  updated mineral reserves for its Mercedes Mine in Sonora, with 3.3M tonnes of 3.94 g/t Au containing 417K Oz Au, and measured and indicated mineral resources for 3.68M tonnes of 4.32 g/t Au containing 511K Oz Au.
  • Sierra Metals Inc., reported mine development at its Cusi and Bolivar mines in Chihuahua during Q1, 2018. At Cusi, mine development totaled 676m. The company also carried out 1,448m of underground infill drilling, and 7,398m from surface. At Bolivar, mine development totaled 1,177m, with 650m to prepare stops for mine production, 466m to deepening ramps and developing service ramps for ventilation and pumping, and 61m of raises.
  • US Antimony Corporation, reported progress on the construction of the leach plant for the Los Juarez Au-Ag-Sb deposit in Queretaro. Testing and shake-down of the plant is anticipated in Q4 2018.

ON DEALS AND CORPORATE ISSUES

  • Almadex Minerals Limited., approved a spinout transaction of its early stage exploration projects, royalties interests, and certain other assets. Almadex will be re-named Azucar Minerals Ltd., upon closing of the transaction.
  • Candente Gold Corp., reached an agreement with 3rd Eye Research to retain IR services.
  • First Majestic Silver Corp., completed the acquisition of Primero Mining Corp. With the arrangement now completed the Primero´s shares will be delisted from the TSX. The company also announced the termination of the silver purchase agreement with Wheaton

Precious Metals Corp., relating to the San Dimas mine.

  • Goldplay Exploration Ltd., received the approval to acquire the 100% of the San Marcial, Sinaloa option agreement with SRR Mining. Goldplay will pay, over a three year option period, $2.6 M in cash, issue 3.5M common shares, and incur in exploration expenses for $3M.
  • Primero Mining Corp., announced receipt of Mexican antitrust clearance for the arrangement with First Majestic.
  • MX Gold Corp., signed a definitive agreement to sell its 50% interest on its Magistral project in Durango for a purchase price of US$4.5M.

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, an oxidized quartz vein with a high content of disseminated pyrite in a prospect in Oaxaca, Mexico. Photo by Miguel A Heredia.

 

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

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

By Miguel A Heredia

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

ON MEXICO ISSUES

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

ON EXPLORATION

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

ON MINING

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

ON FINANCING

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

ON RESOURCES AND DEVELOPMENT

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

ON DEALS AND CORPORATE ISSUES

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

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

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

By Miguel A Heredia

During the 11th week of the year (March 12th to March 18th, 2018), at least 17 press releases were announced by companies working in Mexico, with seven announcing exploration results, seven reporting deals and corporate issues, and two providing Q4 and annual 2017 results. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Sonora, Azure provided an update of exploration results at its Alacran project. In Coahuila, Discovery Metals announced drill results from its La Kika project in Coahuila, Prize Mining reported sampling results at its manto Negro copper project, and Silver Bull presented drill results on its Sierra Mojada project. In Hidalgo, Prospero announced drill results at its Pachuca SE project.  In Michoacan, Geologix presented 2017 exploration results from its Tepal project. In Guerrero, Alio reported drill results on its Ana Paula project.  ON MINING, Impact reported Q4 and 2017 annual financial and production results at its Zacualpan Mine in Mexico State. Fortuna announced Q4 and 2017 production results at its San Jose Mine in Oaxaca.   ON FINANCING, Colibri closed a second tranche of a private placement for $135K.  ON RESOURCES AND DEVELOPMENT, no relevant news. ON DEALS AND CORPORATE ISSUES, Evrim issued a remainder to holders to exercise their warrants on March 19, otherwise they will expire. Geologix granted incentive stock options to its personnel. Plata Latina announced debt restructuring. Primero reported shareholders voted in favour of the First Majestic transaction. Southern Silver announced initial analyst coverage report on its Cerro Las Minitas project in Durango. Rock Teck announced its intention to the vendors to proceed with the acquisition of the Nogalito lithium property in Sonora. Orla Mining announced the appointment of its CFO.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Azure Minerals Limited, Azure announced that Minera Teck S.A. de C.V. has already logged and sampled all drill core from the eleven hole diamond drilling program completed in December 2017 at its Alacran project in Sonora. All samples were submitted to lab and results are expected to arrive next month. Teck also has informed Azure that it will be continuing its planned geological, geochemical and geophysics surveys in the first half of 2018, to be followed by more drilling in the second half of the year.
  • Discovery Metals Corp., reported 1st phase drill results at its la Kika project in Coahuila. Significant results were 1.1m of 10.4% Zn, including 16.7% Pb over 0.6m, 7m from surface, and 1.5m of 12.8% Zn, including 30.6% Pb over 0.4m, 7m from surface. A property-wide geochemical survey identified a 1.5km by 0.8km coincident Zn-Pb anomaly. This result opens the potential to the north of the property. Detail mapping, property-wide geophysics, and trenching work are currently underway. The company also announced that a mapping and sampling program is ongoing at its Monclova and Puerto Rico projects to generate drill targets.
  • Prize Mining Corporation, announced sampling results at its manto Negro copper project in Coahuila. Highlights comprises 7m of 2.6% Cu & 212 g/t Ag, including 1.25m of 5.46% Cu and 404 g/t Ag at Pilar Grande mine, 0.3m of 5.5% Cu and 711 g/t Ag at level 4 of Pilar Grande Mine, and 0.25m of 45.5% Cu and >1.5K Ag at Los Ojitos. Other significant results are 1.85m of 3% Cu and 275 g/t Ag, including 0.65m of 4.44%Cu and 565 g/t Ag, and 1.35m of 1.73% Cu and 332 g/t Ag, including 0.3m of 4.9%Cu and 1,140 g/t Ag.
  • Silver Bull Resources Inc., presented drill results of the final three drill holes collared in the newly discovered Sulphide Zone, which sits under the previously defined Oxide Zone at its Sierra Mojada project in Coahuila. Highlights include 10m @ 347 g/t Ag, 20.7% Zn, 1.25% Cu, and 1.35% Pb; 3m @ 303 g/t Ag, 20.1% Zn, 1.53% Cu, and 1.18% Pb; and 1m @ 127 g/t Ag, 21.1% Zn, 0.29% Cu, and 3.14% Pb. The recent drilling has extended the Oxide and Sulphide Zones to over 150m each along strike with high grade silver and copper to the north, and high grade silver, copper, and zinc to the south.
  • Prospero Silver Corp., announced results of the 3 holes comprised in the initial drilling program at its Pachuca SE project in Hidalgo. The intercepts were 1.35m of 227 g/t Ag, 12m of 0.39 g/t Au and 33 g/t Ag (8-10m true thickness), and 0.75m of 6.4 g/t Au and 75 g/t Ag.
  • Geologix Explorations Inc., presented results of the 2017 exploration program at its Tepal project in Michoacan. Company geologists developed a new structurally controlled exploration model for both property and regional scale and identified undrilled areas within and surrounding the three proposed PEA pits. They also discovered an unknown and untested high-sulphidation epithermal system underlying the Tepal property, which is now being prepared for drilling later this year.
  • Alio Gold Inc, reported drill results at its Ana Paula project in Guerrero. These holes were collared south of the proposed pit and on the southern edge of the alteration halo. Highlights include 19m of 6.45 g/t Au from 367m to 386m, and 55.70m of 1.3 g/t Au from 57.60m to 113.30m. IN addition, Alio has commenced a regional exploration work including an airborne magnetic survey targeting further breccia or skarn mineralization.

ON MINING

  • Impact Silver Corp., reported Q4 and year-end 2017 production results at its mine in Zacualpan, Estado de Mexico. Impact milled 194,266 tonnes in 2017 to produce 907.8K Oz Ag with a mill grade of 172 g/t Ag from.
  • Fortuna SilverMines Inc., announced Q4 and annual 2017 production results at its San Jose Mine in Oaxaca. On Q4, Fortuna milled 271.3K tonnes to produce 2M Oz Ag & 15K Oz Au, milling 1M tonnes during 2017 for a total annual production of 7.5M Oz Ag & 56K Oz Au.

ON FINANCING

  • Colibri Resources Corporation, closed a second tranche of over-subscribed private placement for $135K. Total gross proceeds raised between the first and second tranche were $1,212,098.

ON RESOURCES AND DEVELOPMENT

  • No relevant news.

ON DEALS AND CORPORATE ISSUES

  • Evrim Resources Corp., issued a remainder to holders to exercise their warrants by March 19, 2018 before their expiration date (Cerro Cascaron, Chihuahua).
  • Plata Latina Minerals Corporation, entered into a debt settlement agreement with the major shareholder of the company. The debt related to a promissory note of $CAD 250K, bearing interest at 10% per annum (Naranjillo, Guanajuato).
  • Primero Mining Corp., reported shareholders voted in favour of the transaction with First Majestic. With the acquisition of Primero, First Majestic adds to its portfolio one of the largest and richest precious metals mine in Mexico (Tayoltita-San Dimas, Durango).
  • Southern Silver Exploration Corp., announced initial analyst coverage report by Fundamental Research Corp., entitled “Significant resource expansion in Durango” (Cerro Las Minitas, Durango).
  • Rock Teck Lithium Inc., announced to the vendors its intention to proceed with the acquisition of the Nogalito lithium property in Sonora.
  • Geologix Explorations Inc., granted incentive stock options to its employees, directors, officers, and consultants (Tepal, Michoacan).
  • Orla Mining Ltd., announced the appointment of its CFO (Camino Rojo, Zacatecas).

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 below, a moly-copper manto in a prospect in Coahuila State, Mexico. Photo by Miguel A Heredia.

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

By Miguel A Heredia

During the 5th week of the year (January 29nd to February 4th, 2018), at least 24 press releases were announced by companies working in Mexico, with one reporting its full year 2017 results, one providing 2018 guidance for its mining operations, and six announcing financing rounds. ON MEXICO ISSUES, Torex announced that the illegal blockade by an external Union at its ELG Mine Complex in Guerrero has been removed. ON EXPLORATION, In Sonora, Aztec Minerals and Kootenay Silver released good drill results from its Cervantes project; SilverCrest Metals Inc released additional high-grade drill results for its Las Chispas project in Sonora, with ten to fifteen thousand meters of drilling planned for the first semester of 2018. In Chihuahua, Harvest Gold prepares to conduct a first phase drilling at its Cerro Cascaron Au-Ag project. ON MINING, Americas Silver presented annual production results for 2017, and Alio Gold provided 2018 guidance for its San Francisco Mine in Sonora. ON FINANCING, Bacanora Minerals announced equity offering with NextView Capital for CAD$ 53,5M. First Majestic completed the offering of $USD 150M of convertible senior notes due 2023. Orla Mining has agreed to increase the size of its previously announced CAD$ 25.48 M bought deal offering to CAD$ 26.75M. Palamina Corp. announced a non-brokered private placement for $2M. Torex Gold announced a CAD$55 M bought deal. Consolidated Zinc announced a fundraising for $1.96 M. San Marco announced proceeds of $208K by exercised of warrants.  ON RESOURCES AND DEVELOPMENT, Consolidated Zinc announced positive results from a Scope Study at its Plomosas project, in Chihuahua, and plans more drilling to increase resource tonnage during Q1 2018. Mexican Gold announced that a drill contract for 3,000m has been signed to expand resources at its Las Minas project in Veracruz. Premier Gold Mines Limited announced plans to define and expand mineralization at its Mercedes Mine in Sonora. ON DEALS AND CORPORATE ISSUES, Mexus Gold US acquired in Sonora the Mabel-Dana project from Pacific Comox. Minera Alamos and Corex Gold announced that have entered into a definitive agreement to combine the two companies. MX Gold announced that the British Columbia Securities Commission issued a Cease Trade Order against the company as a result of failing to disclose Mineral reserves under National Instrument 43-101 on its Magistral project in Durango. For the same reason, the company was suspended by TSX. Canuc released that it has completed a vertical amalgamation with its wholly-owned subsidiary Santa Rosa Silver Mining Corporation to simplify the corporate structure of Canuc.  Vangold Mining granted stock options for 2.6M shares to officers, directors, consultants and employees. The company has received its Legal Identity Number to trade shares on the Stuttgart, Munich and Frankfurt Stock Exchanges.

ON MEXICO ISSUES

  • Torex Gold announced that the illegal blockade at its ELG Complex Mine by an external Union has been peacefully removed by the Guerrero State authorities. Torex now has access to the entire mine facilities. Rule of law has finally been reestablished!

ON EXPLORATION

  • Aztec Minerals / Kootenay Silver, released initial drill results of five of its phase 1, 15 holes, 3000m drill program at its Cervantes project in Sonora. The California and Jasper targets were drilled, where mineralization seems to be related to a porphyry gold (silver, copper) sulfide system. Drill highlights of the holes totaling 810m include 139m @71 g/t Au from surface, including 20m of 2.1g/t Au and 2m of 5.52 g/t Au; and 117m @ 0.63 g/t Au from 2-119m depth, including 43m of 1.18 g/t Au and 2m of 5.52 g/t Au, both in the California target. Two drill holes at the Jasper target intercepted anomalous but sub-economic copper-gold-molybdenum oxide mineralization from surface to bottom. The rest of the drilling program at Cervantes is underway.
  • Harvest Gold, announced that a drill permit to conduct 14 diamond holes comprising 300-3500m in 5 out of 8 target areas on its Cerro Cascaron project in Chihuahua is expected to be received by Mid-February. Six holes will test Serpiente Dorada and Julieta targets, a 1.8km long Au-Ag soil anomaly that average 200 ppb Au with the peak being 1,380 ppb Au. Three holes more will test high grade Au-Ag veins at San Pedro target. Sampling results of the San Pedro vein returned 0.8m @ 19 g/t Au and 72 g/t Ag, within 2.6m @ of 6.5 g/t Au and 28 g/t Ag.  The drill program also considers some holes in Carabina target to test two areas of high grade Au-Ag surface samples, and in Cascarita target to test 350m of strike length along a larger (900m) polymetallic Ag-Pb-Zn vein breccia system defined by both underground and surface sampling. Adit sampling returned five channel sample cuts with widths of 1.4 to 3.3m with grades between 231 and 542 g/t equivalent Ag.  A phase two drill program consisting of an additional 3,700m in 12 holes have been planned to test Dolores, San Pedro, El Salto, Cascarita, La Puerta, Carabina and Julieta targets.
  • San Marco Resources Inc., announced its plan for 2018 on its Mexican projects in Sonora. The company wants to drill the 1068 porphyry copper-gold-moly project; release assay results from the chip-channel sampling conducted at its new Chunibas Cu-Au discover; continue exploration at its Chunibas project and release metallurgical results.
  • SilverCrest Metals Inc., released additional phase 2 drill results for its Las Chispas project in Sonora, expanding Babicanora high-grade footprint from 1km to 1.3Km along strike length. Potential is open along strike and to depth. Drilling returned significant intersections such as 3.5m of true width @05 g/t Au and 1,074.5 g/t Ag (4,153 g/t Ag equivalent), and 3.8m @ 12.3 g/t Au and 1,411 g/t Ag (2,321 g/t Ag equivalent). SilverCrest also expects to release a maiden resource estimate during the first quarter of 2018.

ON MINING

  • Americas Silver Corporation announced annual 2017 production results from its Cosala, San Rafael and El Cajón mines in Sinaloa. During the year, 690.5K tonnes were milled @ 104 g/t Ag, to produce 2.05M Oz Ag, 25.4 M Lb Pb, 11.6 M Lb Zn, and 1.2M Lb Cu, with a cash cost of USD$ 9.37 per Ag Oz and an all-in sustaining cost of USD$ 13.12 per Ag Oz. Commercial production was declared at its San Rafael Mine on December 19, 2017. The company also drilled seven holes during the fourth quarter of 2017 at the Zone 120 deposit, which is part of its Cosala operation. Drill results include 23.4m of 259 g/t Ag, 0.40 g/t Au, and 0.5% Cu, and 7.2m of 335 g/t Ag, 0.23 g/t Au, and 0.55% Cu.  A 20,000m drill program is to test extensions and in-filling drilling of the Zone 120, and explore the potential connection in the one km distance between El Cajón and Zone 120 areas.
  • Alio Gold Inc., provided 2018 guidance for its San Francisco Mine in Sonora. Alio expects to increase production on the range of 90K to 100K Oz Au this year compared to 83.5K Oz Au produced in 2017. To meet this goal, Alio has increased mining flexibility and the ability to deliver consistent ore feed to the leach pad. The total capital expenditure for 2018 is expected to be in the order of $2.5 to $3.0 M and will be spent on mine site exploration drilling and expansion of the heap leach pad phase 6B.

ON FINANCING

  • Bacanora Minerals Ltd., announced that the equity offering with NextView Capital, a leading Chinese institutional fund management group, is ongoing and worth CAD$ 53.5M (Sonora Lithium, Sonora).
  • First Majestic Silver Corp., First Majestic completed its previously offering of $USD 150M of convertible senior notes due 2023. Net proceeds are intended to be used to fund cost and expenses associated with the acquisition of Primero Mining Corp., and for general corporate purposes (Six mines in Mexico).
  • Orla Mining Ltd., has agreed to increase the size of its previously announced CAD$ 25.5M bought deal offering to CAD$ 26.75M, along with an over-allotment option to purchase additional units at the offering price. If the over-allotment option is exercised, the aggregate gross proceeds of the offering will be CAD$ 30.77M (Camino Rojo, Zacatecas). Palamina Corp., announced a non-brokered private placement offering for aggregate gross proceeds of $2M (Santuario, Hidalgo).
  • Torex Gold announced that has entered in a bought deal with a syndicate of underwriters CAD$ 55M on gross proceeds. Part of the net proceeds will be used for its working capital obligations during the re-start of ELG Mine Complex in Guerrero. Torex also announced an extension of waiver on liquidity covenant with its lenders, lowering the liquidity covenant from USD$ 50M to USD$ 30M (El Limón-Guajes, Guerrero).
  • Consolidated Zinc Ltd., announced the raising of $1.96M gross proceeds (Plomosas, Chihuahua).

ON RESOURCES AND DEVELOPMENT

  • Consolidated Zinc Ltd., completed a scope study with positive results to recommencing mining at its Plomosas Mine in Chihuahua, and announced that a feasibility study (FS) is ongoing targeting larger scale production than that assessed in the scope study, which was focused on mining Tres Amigos resources in level 5, comprising 544K tonnes @2% Zn, 2.1% Pb, and 14 g/t Ag. A drill program is planned to increase resources tonnage during the first quarter of 2018. The company also released high-grade results up to 35% Zn+Pb at its Alfonsitos prospect within Plomosas property, and high-grade Zn assays up to 42.7% Zn+Pb from underground areas nearby Juarez Mine.
  • Mexican Gold Corp., announced that a drill contract for 3,000 m has been signed to expand resources at the El Dorado / Juan Bran and the high-grade El Dorado Dike contact zones at its Las Minas project in Veracruz. The drill program also includes the Cinco Señores and Nopaltepec mineralized zones to test geophysical targets and extend known areas of mineralization.
  • Premier Gold Mines Limited announced a USD$ 10.8M exploration budget to define and expand mineralization at its Mercedes Mine in Sonora for 2018. The plan is to extend the underground workings in the Marianas deposit for detailed drilling and mine planning to establish reserves for mining in 2019. Full development of the Rey de Oro deposit is also a high priority and that is to include US$6.3 million in expansionary capital and US$6.8 million in sustaining capital. An updated mineral reserve and resource estimate for its Mercedes Mine during the first quarter of 2018.

ON DEALS AND CORPORATE ISSUES

  • Mexus Gold US acquired in Sonora the Mabel-Dana project from Pacific Comox as a stock trade agreement. Historic reserve estimate are 41K Oz Au on 1.2M tonnes @7 g/t Au and 23 g/t Ag. A summary technical report is expected to be released in the next two weeks.
  • Minera Alamos Inc. & Corex Gold Corporation entered into a definitive agreement to combine the two companies and become a Mexican gold development company with a market capitalization of about CAD$ 50M, CAD$ 6M in cash, and three high-quality Au-Ag projects: Santana-Los Verdes in Sonora, La Fortuna in Durango and Guadalupe de los Reyes in Sinaloa, each offering near-term production potential and low capital cost advantages.
  • San Marco Resources Inc., announced the appointment of Christian Grijalva as its VP Exploration for San Marco and San Marco Resources Mexico S.A. de C.V. (Chunibas, Sonora).
  • MX Gold Corp., announced that the British Columbia Securities Commission issued a Cease Trade Order after failing to disclose for first time mineral reserves under the national Instrument 43-101 on its Magistral project in Durango. Also, the TSX suspended the company to trade common shares as a result of the Cease Trade Order. MX Gold is working to address the deficiencies to get reinstatement of trading at TSX.
  • Canuc Resource Corporation completed a vertical amalgamation with its wholly-owned subsidiary Santa Rosa Silver Mining Corporation to simplify the corporate structure of Canuc (San Javier Ag-Au project in Sonora). The shares of the subsidiary were cancelled without any repayment of capital in respect of them.
  • Vangold Mining Corp., granted incentive stock options for 2.6M common shares at $0.20 per share for a five year term to officers, directors, consultants and employees. The company also announced that it has received its Legal Identity Number to trade shares on the Stuttgart, Munich and Frankfurt Exchanges (El Pinguino Mine in Guanajuato).

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

On the picture below, vuggy silica texture with hematite staining from a prospect in Jalisco State. Photo by Miguel A Heredia.

Vangold Grants Options Confirms LEI Registration

vangold grants options

Vancouver, British Columbia–(Newsfile Corp. – February 1, 2018) – Vangold Mining Corp. (TSX: VAN) (OTC: VGLDF) (“Vangold” or “the Company”) has granted, subject to regulatory approval, incentive stock options to officers, directors, consultants and employees to acquire up to 2,600,000 common shares at $0.20 per share for a five year term, in accordance with its Stock Option Plan.

Highlights on the First Week of January, 2018. Mineral Exploration in Mexico

During the 1st week of the year (January 1st to January 8th, 2018), at least nine press releases were announced by companies working in Mexico. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Azure informed Teck drilled 11 holes on a 4,905 m drill program on the El Alacrán project; Colibri is planning a drilling program at its El Pilat project. In Sinaloa, Santana released drill results on its Cuitaboca project. ON MINING, Leagold informed the production of 191.2 K Oz Au during 2017 at Los Filos mine in Guerrero. ON FINANCING, Mammoth settled debt with shares and granted options to management and directors; SilverCrest Metals granted options to directors, officers, employees and consultants, while its president entered into a private placement with the company.  ON RESOURCES AND DEVELOPMENT; Sierra Metals updated its resource estimate on El Cusi mine, Chihuahua, with over 40 M Oz Ag, 38 K Oz Au, 83 M Lb Pb, 96 M Lb Zn in measured, indicated and inferred resource categories. Premier Gold updated on exploration realized during 2017 on its Mercedes property in Sonora, boasting several wide high-grade drill intervals on several prospects. ON DEALS AND CORPORATE ISSUES, no relevant news.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Santana Minerals Ltd. provided an update on the exploration of its Cuitaboca project in Sinaloa. Three reverse circulation (RC) holes were drilled on the Las Animas/Evangelina structures, returning 11 m @ 32 g/t Ag; 2 m @ 44 g/t Ag; 2 m @ 52 g/t Ag in one hole, 2 m @ 51 g/t Ag; 29 m @ 34 g/t Ag; 13 m @ 23 g/t Ag in other hole and 10 m @ 23 g/t Ag. At Mojardina South five holes were drilled, returning 66 m @ 36 g/t Ag; 7 m @ 110 g/t Ag; 53 m @ 47 g/t Ag; 8 m @ 157 g/t Ag; 15 m @ 100 g/t Ag; 12 m @ 102 g/t Ag. Current drilling at La Plata prospect is testing a 2 km strike length of high grade mineralization previously identified by trenching.
  • Azure Minerals Ltd. informed that Teck Resources Ltd. completed their first drilling campaign at the El Alacrán property on Sonora. After exercising the back-in clause to earn an ownership interest in the project, Teck carried during 2017 geological mapping, surface geochemical sampling and geophysical (IP and CSAMT) surveys, confirming two high priority targets, on which 11 holes totaling 4,905 m were completed. Teck is expected to deliver the results in February 2018.
  • Colibri Resource Corp. has plans for a two-phase drilling program on the Main Zone of its El Pilar gold project in Sonora. To date, Colibri has defined an in-house resource on the Main Zone deposit of 700 K tonnes @ 1.9 g/t Au (Non 43-101 compliant). The new program is designed to expand this resource and define it by NI-43-101 standards.

ON MINING

  • Leagold Mining Corp. achieved mid-point of guidance of production at it Los Filos mine in Guerrero, with 191,195 Oz Au. Since the Los Filos acquisition on April 7, 2017, the mine has produced 145,192 oz of gold.

Leagold production 20171

ON FINANCING

  • Mammoth Resources Corp. settled debts totaling $21 K owed to certain insiders by issuing shares, and granted 783 K stock options to management and directors of the company (Tenoriba, Chihuahua).
  • SilverCrest Metals Inc. entered into a private placement agreement with its new president, Christopher Ritchie, for CAD$750 K. Also 955 K stock options were granted to directors, officers, employees and consultants of the company (Las Chispas, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Sierra Metals Inc. updated its mineral resource estimate for the Cusi mine in Chihuahua. The resource estimate includes drilling from 2014 to August 2017, and a further 48,684 m drilled afterwards on the Santa Rosa de Lima structure. The resource estimate includes 362 K tonnes @ 225 g/t Ag, 0.13 g/t Au, 0.55% Pb, 0.68% Zn as Measured; 4.2 M tonnes @ 217 g/t Ag, 0.21 g/t Au, 0.64% Pb, 0.66% Zn as indicated and 1.6 M tonne @ 158 g/t Ag, 0.16 g/t Au, 0.54% Pb, 0.84% Zn as inferred; containing 31.8 M Oz Ag, 30.2 K Oz Au, 63.4 M Lb Pb, 66.2 M Lb Zn in the measured and indicated category, and 8.3 M Oz Ag, 8.3 K Oz Au, 19.6 M Lb Pb, 30.4 M Lb Zn in the inferred category.
  • Premier Gold Mines Ltd. updated on exploration at its Mercedes mine in Sonora, where 349 core holes were drilled during 2017. On the Mercedes vein trend, highlighted results in the Barrancas, Brecha Hill and CasaBlanca comprise 12.20 m @ 69.5 g/t Au, 112 g/t Ag (including 3.05 m @ 226 g/t Au, 63 g/t Ag); 15.25 m @ 22.9 g/t Au, 73 g/t Ag; 17.0 m @ 12.0 g/t Au, 50 g/t Ag; 3.45 m @ 58.3 g/t Au; 74 g/t Ag; 3.05 m @ 23.9 g/t Au, 151 g/t Ag; 7.65 m @ 13.7 g/t Au, 132 g/t Ag; 3.75 m @ 12.2 g/t Au, 231 g/t Ag. At Diluvio-Lupita highlighted results comprise 6.0 m @ 19.6 g/t Au, 11 g/t Ag; 19.0 m @ 7.35 g/t Au, 1.9 m @ 14 g/t Au, 131 g/t Ag. At Rey de Oro highlighted results comprise 6.0 m @ 70.5 g/t Au (including 1.0 m @ 413 g/t Au, 16 g/t Ag). The newly discovered Axis vein as well as several other target areas is to be tested systematically during 2018.

ON DEALS AND CORPORATE ISSUES

  • 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 below, argillitized porphyritic intrusive with minor quartz veining, in a prospect of the Durango Altiplano. Photo by Jorge Cirett.

SD intrusive3 - copia

SilverCrest Announces Stock Option Grant

SilverCrest_20180104

VANCOUVER, BC – January 4, 2018 – SilverCrest Metals Inc. (“SilverCrest” or the “Company”) announces the grant of stock options under its Stock Option Plan to purchase an aggregate of 955,000 common shares of the Company at an exercise price of $1.94 per share for a five year term expiring January 4, 2023. The stock options were granted to directors, officers, employees and consultants of the Company and are subject to necessary regulatory approvals.

The stock options shall vest as to 25% of the Optioned Shares on each of April 4, 2018, July 4, 2018, October 4, 2018 and January 4, 2019, respectively.