Explotación minera en el mar, opción o pesadilla

https://www.eleconomista.com.mx/opinion/Explotacion-minera-en-el-mar-opcion-o-pesadilla-20180504-0041.html

La explotación minera de fondos oceánicos será pronto una realidad. Sus impactos ambientales están siendo intensamente evaluados por instituciones académicas y agencias internacionales, mientras la ingeniería avanza lo suficiente para colocarla como opción viable y rentable, en muchos casos, superior a la minería en tierra. Crece la escasez de minerales metálicos y no metálicos en yacimientos terrestres accesibles y de costo aceptable, mientras el reciclaje es insuficiente y la demanda aumenta exponencialmente por la industria electrónica y la fabricación de baterías para vehículos eléctricos. Níquel, cobalto, tungsteno, platino, rodio, manganeso y otros metales son indispensables para nuevas tecnologías electrónicas, y el fósforo es insumo vital para la manufactura de fertilizantes esenciales en la agricultura. El impacto ambiental de actividades mineras en tierra llega a ser devastador en cuanto a ecosistemas y paisajes, deforestación, y contaminación de aguas, suelos y atmósfera.

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

By Jorge Cirett

During the 10th week of the year (March 5th to March 11th, 2018), at least 24 press releases were announced by companies working in Mexico, and three articles on mining matters in Mexico published by newspapers. ON MEXICO ISSUES, the Fraser Institute released the results of the 2017 survey on Mining Attractiveness by Jurisdiction, with Mexico stagnant at mid table due to low results on taxation regime, labor disruptions and security perception. The Sonora government is supporting the mining industry with the signature of a collaboration agreement with the Economy Bureau. The governors of Chihuahua and Oaxaca attended the PDAC in Toronto for promoting mining investment in their respective states. Other delegations present were from Durango and Zacatecas. ON EXPLORATION, In Sonora Riverside announced a bigger land position at its Cecilia project; Oceanus has mapped the favorable El Tigre Formation rock package for 5 km in strike length at its El Tigre property; Mexus Gold updated on exploration of its 8 Hermanos property; Millrock disclosed interesting low grade drilling results from its Navidad property; Azure has started the second drill campaign at its Sara Alicia Au-Co property. In Chihuahua VVC Minerals received the permit for drilling its Samalayuca property; Radius updated on exploration at its Amalia project. In Guanajuato, Vangold started the phase two of drilling at its Pinguico property. ON MINING, two companies, Americas Silver and Santacruz Silver presented production results for the quarter and/or full year 2017. Magellan Gold announced the restart of its mill in Nayarit.  ON FINANCING, Canuc Resources closed a $1.1 M financing round, Colibri closed the first tranche of a financing round netting $1.08 M. Vangold announced the opening of a financing round for raising up to $2 M. Santacruz Silver obtained a US$2.3 M private loan. Starcore closed a financing round for $125 K with an insider.  ON RESOURCES AND DEVELOPMENT, Levon Resources released an updated mineral resource report for its Cordero project in Chihuahua. Alio Gold provided an exploration update at its Ana Paula project in Guerrero. Leagold updated its mineral resource estimate for its Los Filos mine and the Bermejal Underground deposits in Guerrero. ON DEALS AND CORPORATE ISSUES, Sonoro Metals acted on the LOI to option a group of properties adjacent to its Cerro Caliche property in Sonora. Autlan is to acquire all shares from Metallorum (it already controls an undisclosed percentage), which owns the Lluvia de Oro mine in Sonora.

ON MEXICO ISSUES

  • Mexico stays about the same on the investment attractiveness index published yearly by the Fraser Institute. Mexico fell to the 50 (of 91 jurisdictions surveyed) position from the 44 (of 104) on the 2016 survey, affected mainly by low rankings in security, taxation regime and labor regulations/work disruptions. In 2014 Mexico was on the 24 position of 122 surveyed. Chile ranked 8 and Peru 19 on the 2017 survey. Below is the table for the perception of the taxation regime (which presents the effect of the recently imposed royalties as a hard fact). The security perception ranking, along the other rankings can be seen at the following link: (https://www.fraserinstitute.org/sites/default/files/survey-of-mining-companies-2017.pdf).Taxation Regime Index, Fraser Institute 20171
  • The Sonora government is supporting the development of the mining industry in the state with the signature of a collaboration agreement with the Economy Bureau (Secretaría de Economía). The agreement looks to promote investment, better technical assessments, training and cut red tape. The mining industry represents 17% of the state’s GDP, with the state providing 31% of Mexico’s mining production. Sonora’s Governor Claudia Pavlovich has been pushing a proposal on the Deputies Chamber to install a 100% deduction of exploration expenses on the year these are incurred.
  • The governors of Chihuahua and Oaxaca attended the PDAC in Toronto Canada to promote mining investment on their states. Both Javier Corral (Chihuahua) and Alejandro Murat (Oaxaca) attended the Mexico Mining Day 2018 and had personal interviews with companies doing business in their states or trying to set a foothold there. Other delegations present were from Durango and Zacatecas.

ON EXPLORATION

  • VVC Minerals Corp. received the permit for drilling at its Samalayuca property in Chihuahua. The SEMARNAT permit approved 22 new drilling sites, in addition to 13 already approved. The drilling is to focus on La Gloria Extension area, La Concha pit area, La Zorra zone and the Julianna, Suerte and Trinidad areas. The completed and proposed drilling cover 7 Km of strike length on the property.
  • Vangold Mining Corp. concludes phase 1 drilling, starts phase 2 drilling at El Pinguico property in Guanajuato. Vangold completed five of 15 drill holes targeting the underground stockpiles (backfill) on the El Pinguico vein, with poor recoveries and grades. While a better method of assessing these stockpiles is researched, the company has initiated the phase 2 drilling campaign targeting the lower El Pinguico vein extension below the old workings, 300 m below the surface.
  • Riverside Resources Inc. announced that it has been granted the mineral rights to the Cecilia 1 concession, increasing the ground held on the Cecilia project in Sonora to almost 6,000 hectares. Epithermal Au-Ag mineralization is associated to a rhyolite flow-dome setting.
  • Oceanus Resources Corp. updated on its exploration efforts on El Tigre property in Sonora. The El Tigre Formation is the rock package that host the historic El Tigre mine, which operated from 1903 to 1938, producing 353 K Oz Au and 67.4 M Oz Ag; the favorable El Tigre Formation has been now traced for 5 km.
  • Mexus Gold US. presented an update on exploration of its 8 Hermanos and Scorpio_370 claims in Sonora. Mexus controls 2,800 hectares in an area with sedimentary rocks intruded by granodiorite, dioritic dikes and a diorite porphyry, all covered in turn by Tertiary volcanic tuffs and flows. Three samples from the 370 concession returned 9 g/t Au, 41 g/t Ag; 47 g/t Au, 33 g/t Ag; 10 g/t Au, 8 g/t Ag. Porphyry copper potential is highlighted on a report (no alteration is described).
  • Radius Gold Inc. provided an update on exploration at the Amalia project in Chihuahua. The 10,380 ha project has Au-Ag mineralization defined over 2 km of strike length in high level chalcedonic veins, stockworks and breccias and deeper level structurally controlled higher grade mineralization. “Radius continues to advance the Amalia project and is currently permitting drilling and bulldozer trenching.” Recent channel sampling returned 4.5 m @ 10.3 g/t Au, 202 g/t Ag, extending the total strike length of the high-level epithermal mineralization of the Campamento zone to 500 m.
  • Millrock Resources Inc. reported on first phase core drilling at its La Navidad project in Sonora, funded by earn-in partner Centerra Gold. In total, 2,130 m were drilled in 12 holes, with several anomalous intersections, like: 17.2 m @ 0.75 g/t Au (including 1 m @ 9.05 g/t Au); 15.65 m @ 0.60 g/t Au; 18.30 m @ 0.33 g/t Au; 18.0 m @ 0.12 g/t Au; 6.00 m @ 0.26 g/t Au; 5.90 m @ 0.45 g/t Au; 57.0 m @ 0.29 g/t Au; 16.6 m @ 0.35 g/t Au.
  • Azure Minerals Ltd. announced the start of the second drilling campaign on its Sara Alicia project in Sonora. “The Sara Alicia mineralised zone consists of carbonate rocks intruded by a porphyry. This intrusive event caused strong alteration and mineralising reactions in the limestones to form a skarn body which hosts massive and semi-massive sulphides containing the cobalt and gold mineralisation”. The first phase of this drilling campaign is to comprise 1,000 m in 10-12 holes, targeting along-strike and down-dip extensions. The second phase is planned to complete a 50 x 50 m drill pattern over the mineralized body.

ON MINING

  • Americas Silver Corp. reported 4Q and year-end financial results for 2017, including some figures from its operations in Mexico. The San Rafael mine in Sinaloa declared commercial production on December 19, 2017, and was constructed for $16.3 M, 32% lower than the initial project guidance. For 2018 the company plans to produce 1.6 to 2.0 M Oz Ag and 7.2 to 8.0 M Oz AgEq. Cash balance at the end of December was $9.3 M, with net working capital of $11.8 M.
  • Santacruz Silver Mining Ltd. reported operating results for the fourth quarter and full year 2017. Santacruz produced 865.4 K Oz AgEq during the year, including 139.7 K Oz AgEq during the fourth quarter. At Veta Grande in Zacatecas 102.1 K tonnes were milled @ 100 g/t Ag (127 g/t AgEq) and Ag recovery of 61% to produce 201.3 K Oz Ag, 424 Oz Au, 466 tonnes Pb, 803 tonnes Zn during the year. At Rosario in San Luis Potosi, 78.9 K tonnes were milled @ 52 g/t Ag (205 g/t AgEq) and a recovery of 85% Ag to produce 112.6 K Oz Ag, 1,007 Oz Au, 157 tonnes Pb, 1,489 tonnes Zn during the same period.
  • Magellan Gold Corp. announced it has rehired employees and is restarting its 100% owned SDA mill in Nayarit. Operations are initially to reprocess tailing located at the site, with recovery of precious metals expected to defray holding costs of the mill while new ore sources are acquired. The mill last operated in November 2017 and processed third-party ore on a toll basis.

ON FINANCING

  • Canuc Resources Corp. closed a non-brokered private placement financing with gross proceeds of $1.1 M (San Javier, Sonora).
  • Colibri Resource Corp. has closed an over-subscribed first tranche on its previously announced $1 M financing, raising gross proceeds of $1.077 M. Total gross proceeds to be raised between the two tranches is expected to be $1.2 M (Pilar, Sonora).
  • Vangold Mining Corp. announced a non-brokered private placement financing to raise up to $2 M, and fund the phase 2 drill program targeting the lower El Pinguico vein extension, and general working capital.
  • Santacruz Silver Mining Ltd. has arranged a loan from a private Bolivian mining company, for US$2.3 M. The loan bears interest at 9% per annum, is repayable July 1st, 2018, and is unsecured (Veta Grande, Zacatecas; Rosario, San Luis Potosi).
  • Starcore International Mines Ltd. announced the closing of its non-brokered private placement to an insider, for gross proceeds of $125 K (San Martin, Queretaro).

ON RESOURCES AND DEVELOPMENT

  • Levon Resources Ltd. announced an updated NI-43-101 mineral resource estimate and a 2018 preliminary economic assessment (PEA) for the Cordero project in Chihuahua. The new estimate includes 990 M tonnes of ore @ 12.8 g/t Ag, 0.37% Zn, 0.17% Pb, 0.04 g/t Au as indicated resources and 282.2 M tonnes @ 20.7 g/t Ag, 0.75% Zn, 0.30% Pb, 0.04 g/t Au as inferred resources. The said resource contains 595 M Oz Ag, 1.63 M Oz Au, 12.7 B Lb Zn, 5.6 B Lb Pb in the indicated and inferred categories. The PEA includes an open pit mining rate of 40 K tpd (tonnes per day) to produce mineral concentrate, an annual production of 8 M Oz Ag, 44.8 K tonnes Zn, 31.1 K tonnes Pb, 11,900 Oz Au. Over the 29 year mine life on the PEA, 231 M Oz Ag, 2,863 M Lb Zn, 1,992 M Lb Pb would be produced.” Metallurgy is simple (side by side lead and zinc conventional flotation mills) with 88% overall recoveries after three rounds of bench-scale testing”.
  • Alio Gold Inc. provided an update on exploration of its Ana Paula project in Guerrero. To date 1,300 m of the planned 3,800 m of surface drilling have been completed (two of six diamond drill holes), intersecting breccia mineralization as expected and awaiting assay results. Two new breccia targets were discovered by mapping within 1.5 km of the limit of the proposed pit, showing magmatic and hydrothermal breccia mineralization with traces of pyrite and arsenopyrite.
  • Leagold Mining Corp. has filed a NI-43-101 technical report for the Los Filos mine in Guerrero. For Los Filos and Bermejal Underground deposits, measured and indicated resources amount to 13.53 M Oz Au, while inferred resources stand at 6.28 M Oz Au (Almost 20 million ounces of gold!).  Los Filos Resources1Los Filos Resources1 - copia

ON DEALS AND CORPORATE ISSUES

  • Sonoro Metals Corp. has executed on the letter of intent (LOI) of an option agreement on the Rosario group of properties in Sonora. The Rosario concessions are adjacent to Sonoro’s Cerro Caliche property, covering 403.5 hectares, thereby increasing Sonoro’s land holdings in the area to 1,455 hectares. Sonoro is to acquire 100% interest on the property by paying the vendor (a Tucson resident) US$1.6 M payable in escalating cash installments over 72 months, with the initial installment of US$60 K payable on execution. The vendor is to retain 2% NSR, same that can be bought by Sonoro by US1 M for each one percent.
  • Compañía Minera Autlán SAB de CV. is to acquire all the shares of Metallorum Holding, which owns the Lluvia de Oro mine in Sonora. The company is to invest US$25 M in the next three years to increase its manganese and ferroalloys production capacity.

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, beautiful quartz vein with bladed calcite pseudomorphs at the museum of El Oro mining district in Estado de Mexico.

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Highlights on the Fourth Week of March, 2017. Mineral Exploration in Mexico

During the 12th week of the year (March 20th to March 26th, 2017), at least 21 press releases were announced by companies working in Mexico. ON EXPLORATION, Southern Silver and Orex Minerals reported drilling results from their respective projects in Durango. Riverside disclosed interesting trench assay results from its project in Sonora, Silver Bull presented the results from deep drilling in Coahuila, Canasil reported drilling results from a project in Zacatecas/Durango and Alset received needed drilling permits in Zacatecas. ON MINING, Argonaut gold, Excellon, Premier Gold and Santacruz presented operating and/or financial results for 2016. ON FINANCING, Starcore closed the sale of a surface land package, and Primero Mining obtained an extension on a loan. ON RESOURCES AND DEVELOPMENT, Argonaut presented drilling results that support a potential pit expansion in Sonora, Consolidated Zinc disclosed assay results from underground sampling on its Chihuahua property, Pan American Silver filed a technical report on SEDAR regarding its mine in Chihuahua and Mexus US informed of advances on the commissioning of its Sonora mine.  ON DEALS AND CORPORATE ISSUES, Lithium Australia increased its stake on a lithium property in Sonora.

ON EXPLORATION

  • Southern Silver Exploration Corp. reported drilling results for two holes at its Cerro Las Minitas project in Durango. Results include 9.9 m (True width) @ 48 g/t Ag, 0.3% Pb, 3.6% Zn; 2.9 m @ 26 g/t Ag, 0.5% Pb, 3.0% Zn; 9 m @ 601 g/t Ag, 7.1% Pb, 17.9% Zn. The results table mentions “dilution” ranging from 38% to 61%, meaning perhaps poor core recovery.
  • Riverside Resources Inc. reported assays from trench sampling at its Glor project in Sonora, funded by partner Centerra Gold Inc. Results from the Pitaya target area include 105 m @ 0.49 g/t Au, 84 m @ 0.53 g/t Au, 12 m @ 0.64, 36 m @ 0.34 g/t Au. A first-phase drill program is being planned, with 2,000 m to test the Pitaya zone and previously reported induced polarization anomalies.
  • Silver Bull Resources Inc. disclosed assay and geologic results from five deep holes (515-833 m depth) targeting high grade feeder structures at its Sierra Mojada property in Coahuila. Assay results include 50 m @ 0.15% Cu, 27 g/t Ag, 115 m @ 0.25% Zn, 81 m @ 0.64% Zn, with this last interval including 17 m @ 65 g/t Ag and 41 m @ 1.4% Pb. The holes intercepted 180, 360 and 460 m of intense silica alteration resulting in total replacement of the original country rock in places. The company interprets these results as the proximal halo to an intrusive rock source, thus providing a vectoring for future drill holes.
  • Canasil Resources Inc. has received assay results for three more holes at its La Esperanza project in Durango/Zacatecas. Intercepts include 0.7 m @ 0.3 g/t Au, 131 g/t Ag, 0.64% Zn, 0.23% Pb, 0.84% Cu; 2.1 m @ 38 g/t Ag, 0.5% Zn, 0.14% Pb; 2.5 m @ 63 g/t Ag, 0.5% Zn, 0.15% Pb; 4.1 m @ 33 g/t Ag, 1.0% Zn, 0.6% Pb; 1.5 m @ 51 g/t Ag, 1.9% Zn, 1.4% Pb. A further drill hole is in progress, increasing the current program to 2,00 m in seven holes.
  • Alset Energy Corp. has received the necessary environmental permits for drilling its La Salada lithium property in Zacatecas. The company intends to drill two holes, and make a 100-meter grid for subsurface sampling of the salar.
  • Orex Minerals Inc. informed that project partner Fresnillo PLC completed a phase-V exploration diamond drilling program with 11 holes in 5,214.9 m. Results include 1.22 m @ 1.5 g/t Au, 28 g/t Ag; 0.65 m @ 2.3 g/t Au, 42 g/t Ag; 31.6 m @ 0.42 g/t Au; 14.5 m @ 0.56 g/t Au; 1.0 m @ 1.31 g/t Au; 1.0 m @ 2.12 g/t Au; 0.9 m @ 0.40 g/t Au, 402 g/t Ag; 0.4 m @ 0.48 g/t Au, 812 g/t Ag; 0.9 m @ 1.01 g/t Au, 67 g/t Ag.

ON MINING

  • Argonaut Gold Inc. presented financial and operating results for 2016, which includes figures from its operations in Mexico. At El Castillo in Durango, 11.1 M tonnes of ore and 16.4 M tonnes of waste were extracted, while moving 75 K tonnes per day (tpd), at a grade of 0.37 g/t Au, producing 62,235 Oz Au at cash cost $884 per Au Oz. At La Colorada in Sonora, 11.1 M tonnes of ore and 16.4 M tonnes of waste were moved, with the ore grading 0.55 g/t Au to produce 56,492 Oz Au and 184.5 K Oz Au. The first pour of gold at San Agustin (10 km from El Castillo) is expected during the third quarter of 2017.
  • Excellon Resources Inc. reported operational and financial results for 2016, period during which 55,593 tonnes of ore were processed at a grade of 456 g/t Ag, 4.4% Pb, 5.7% Zn, to produce 752.7 K Oz Ag, 4.44 M Lb Pb, 5.58 M Lb Zn (with recoveries at 90.5% Ag, 82.1% Pb, 80.1% Zn). Cash cost per Ag Oz was $13.42 and all-in sustaining cost (AISC) of $33.04 per Ag Oz. An optimization plan to enable dry mining on Platosa is set to double productivity and halving costs by the second quarter of 2017. Cash, current accounts receivable and marketable securities totaled $7.7 M at the end of 2016.
  • Premier Gold Mines Ltd. presented operational and financial results for 2016, including figures for its Mexico operations. At Mercedes in Sonora (which was bought at the end of the third quarter) production during the fourth quarter included the milling of 175 K tonnes of ore @ 4.27 g/t Au, 44.5 g/t Ag to produce 22,481 Oz Au and 98.4 K Oz Ag, on recoveries of 94.8% Au, 39.1% Ag. Cash cost was $690 per Au Oz and AISC  $811 per Au Oz including co-products. Also during the quarter 8,532 m of drilling were completed in 44 holes. Premier aims to produce 85-90 K Oz Au at Mercedes during 2017.
  • Santacruz Silver Mining Ltd. reported operating results from the Rosario project in San Luis Potosi and the Veta Grande project in Zacatecas, for 2016. At Rosario 93.2 k tonnes of ore were milled @ 163 g/t Ag, to produce 456.3 K Oz Ag, 454 Oz Au, 759 tonnes Pb, 2,657 tonnes Zn (Ag recovery @ 94%). At Veta Grande 28.5 K tonnes @ 56 g/t Ag were milled to produce 29,843 Oz Ag, 115 Oz Au, 232 tonnes Pb, 382 tonnes Zn (Ag recovery 58%). The Rosario mill has been processing ore from the nearby Cinco Estrellas mine, where the company has completed development work in three levels and expects to mine at a 250 tpd rate. At Veta Grande more than 2,000 m of development have been completed on two mines, furthermore, back-fill mineralized material was identified and is to be a primary source of millfeed combined with material from other mine working faces.

ON FINANCING

  • Starcore International Mines Ltd. announced the closing of the sale of its San Pedrito surface property in Queretaro. The property is near the Santiago de Queretaro city limits, and has gained value in recent years. The total amount paid was C$10,171,415 dollars for 55 hectares of the land package, with payments amounting over C$3 M pending for the remaining 17 hectares.
  • Primero Mining Corp. announced that it has agreed in principle with its lenders to an extension of its $75 M revolving credit facility, extending it for six months to November 2017.

ON RESOURCES AND DEVELOPMENT

  • Argonaut gold Inc. has completed a 5,139 m, 22 holes RC drill program at its La Colorada mine in Sonora, aiming to confirm resources for a pit expansion at the Creston deposit. Results include 15.2 m @ 0.62 g/t Au, 5 g/t Ag; 19.8 m @ 0.72 g/t Au, 10 g/t Ag; 12 m @ 0.44 g/t Au, 5 g/t Ag; 41.1 m @ 1.15 g/t Au, 6 g/t Ag; 27.4 m @ 0.96 g/t Au, 5 g/t Ag; 16.8 m @ 2.69 g/t Au, 3 g/t Ag; 59.4 m @ 1.24 g/t Au, 6 g/t Ag; 51.8 m @ 0.52 g/t Au, 4 g/t Ag; 48.8 m @ 0.97 g/t Au, 12 g/t Ag; 54.9 m @ 0.89 g/t Au, 5 g/t Ag; 36.6 m @ 1.22 g/t Au, 12 g/t Ag; 57.9 m @ 1.0 g/t Au, 4 g/t Ag; 132.6 m @ 1.29 g/t Au, 24 g/t Ag. These results are not included on the mineral resource estimate prepared on December 2016, which includes 13.1 M tonnes of indicated resources @ 0.63 g/t Au, 16.5 g/t Ag, for 264 K Oz Au, 6.9 M Oz Ag and 2.38 M tonnes of inferred resources @ 0.82 g/t Au, 12.1 g/t Ag, for 63 K Oz Au, 0.9 M Oz Ag.
  • Mexus Gold US announced that cyanide solution assays on its Santa Elena mine in Sonora (not to mistake for First Majetic’s Santa Elena mine, also in Sonora) are better than expected at this early stage, before heap saturation.
  • Consolidated Zinc Ltd. presented assay results for 40 underground samples collected on the Carola South zone of its Plomosas property in Chihuahua, which extends the mineralized zone for other 800 m. The average for all the samples is 20.4% Zn+Pb, with a high of 56.3% Zn+Pb.
  • Pan American Silver Corp. filed on SEDAR an updated technical report on its Dolores property in Chihuahua. The reports provides current information on mineral resource and reserve drilling, updated mineral resource and reserve estimates and the current expansion on the Dolores mine to include a pulp agglomeration treatment option and an underground mine to extract ore beneath the planned pit limits.

ON DEALS AND CORPORATE ISSUES

  • Lithium Australia increased its interest in the Electra lithium clays joint venture with Alix Resources, ahead of a 3,000 m drilling program to begin this week. Lithium Australia has boosted its stake in the Electra project, in Sonora, from 25% to 49%.

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, Agglomerate fragment within a more recent agglomerate, Soconusco area in Chiapas. Photo by Jorge Cirett.

Coatan 062 - copia

Highlights on the First Week of March, 2017. Mineral Exploration in Mexico

During the 9th week of the year (February 27th to March 5th, 2017), on the eve of PDAC, at least 39 press releases were announced by companies working in Mexico, the greatest weekly figure on the year. ON EXPLORATION, Arian Silver presented results from exploration in Zacatecas, Sierra Metals announced high grade results from a brownfield area in Chihuahua, Source Exploration commenced a drill program in Veracruz, San Marco Resources and Silver One announced soil sampling results from properties in Sonora and Nayarit, and Kootenay Silver announced exploration work in 2017 by partner in Sonora. ON MINING, Primero Mining informed reduction of operations in Durango; Autlan informed on its mine in Sonora, Gold Resource, Golden Minerals and Great Panther presented financial, operational and or production results for 2016. ON FINANCING, Six companies announced financing rounds for $1.85 M, exercise of warrants for $717 K, a re-purchase of shares, a $150 M loan, a private placement for $50 M and the re-negotiation of terms on a loan. ON RESOURCES AND DEVELOPMENT, Fortuna Silver and Primero mining updated resources to 2016, Mexus Gold continues mine construction in Sonora, Marlin gold evaluates a pit layback in Sinaloa and Fortuna Silver signs a surface rights agreement in Durango.   ON DEALS AND CORPORATE ISSUES, Santacruz Silver and First Majestic signed an agreement on a property in Sonora, and Red Tiger informed it is in violation of a loan covenants.

ON MEXICO ISSUES

  • First Majestic Silver’s, El Pilon mine in San Martin de Bolaños, Jalisco, suffered a robbery, with 57 silver bars (25 Kg each) extracted and transported in company’s trucks. One of the vehicles was recovered nearby, with part of the bounty.

ON EXPLORATION

  • Arian Silver Corp. presented sample results from its La Africana project in Zacatecas. Assay results from 11 grab samples, of which seven are between 196 and 842 g/t Ag, and up to 4.9% Zn.
  • Sierra Metals Inc. announced high-grade silver intercepts in the Santa Rosa de Lima complex at its Cusi mine in Chihuahua. The 15,000 m program has an 80% advance to date (10,200 m). True width (TW) Intercepts include 3.2 m 332 g/t Ag; 2.5 m @ 200 g/t Ag; 1.5 m @ 292 g/t Ag; 1.5 m @ 1,152 g/t Ag; 3.1 m @ 1,037 g/t Ag, with up to 5.2% Pb and 3.5% Zn. The Santa Rosa de Lima complex has an anticipated extension of 12 km within Sierra Metals concessions; with mineralization located 100 m below the surface, and occasionally observed at the intersections of other veins. The drilling covers about one kilometer of the structure.
  • Source Exploration Corp. commenced a diamond drill program for the Las Minas copper-gold skarn project in Veracruz. An initial 2,000 – 3,000 metres infill and step out at the El Dorado – Juan Bran zone, with the aim of completing a maiden NI-43-10 resource estimate on early 2017. Further mapping, trenching and sampling will be carried out on the Pueblo Nuevo concession. Previous drilling has outlined a mineralized zone 420 m in width, 6.0 to 82 m in thickness, and extending more than 600 m in depth; the zone remains open on strike and down-dip.
  • San Marco Resources Inc. announced that soil sampling results from its Chunibas property in Sonora have confirmed a 600 x 800 m target. Drilling is expected to probe deeper and on-strike mineralized zones.
  • Kootenay Silver Inc. informed Pan American Silver Corp. is to proceed in 2017 with a US$2.0 M budget on La Negra property in Sonora, with 6,500 m of diamond drilling, geological mapping and reconnaissance work to define additional prospective targets proximal to La Negra within the Promontorio project.
  • Silver One Resource Inc. completed geochemical soil surveys at its Peñasco Quemado and La Frazada properties in Sonora and Nayarit respectively. At Peñasco Quemado a 3,000 m long, 300 m wide linear anomaly overlaps with the area of the current resource, with high manganese (0.17% – 1.1%) and barium (0.15% – 0.88%), and more localized zinc (400 – 3,500 ppm) and lead (135 – 800 ppm); a second anomaly 2,000 m long by 1,000 m wide is a new target. The survey consisted of 1,925 soil samples, XRF assayed, with 320 quality control samples sent for assaying to a US lab, with a very good correlation. At La Frazada the 222 soil samples were not that successful to highlight some of the veins, the reason forwarded being the probable leaching of metals in the subtropical environment.

 

ON MINING

  • Grupo Autlan announced its Lluvia de Oro property in Sonora has a mine life of 15 years, and that its cash flow increased with the operation of its first gold mine.
  • Primero Mining Corp. is reducing the complexity and scale of operations at its San Dimas mine in Durango, with significant decreases to the workforce.
  • Gold Resource Corp. presented 2016 production figures, having milled 450.2 K tonnes at a rate of 1,295 tonnes per day (tpd) and grade of 2.13 g/t Au, 139 g/t Ag, 0.29% Cu, 1.21% Pb, 3.78% Zn; with recoveries standing at 89% Au, 92% Ag, 78% Cu, 74% Pb, 84% Zn. Yearly production amounted to 27,628 Oz Au, 1.86 M Oz Ag, 1,035 tonnes Cu, 4,049 tonnes Pb, 14,302 tonnes Zn. The company is targeting 2017 annual production of 27,500 Oz Au, 1.85 M Oz Ag.
  • Golden Minerals Co. presented operational results for 2016, which include a profit on the lease of an oxide plant, granting the right to operate such plant until the end of 2018; obtained an additional $1.8 M in other operating income related to sales and farm-outs of non-strategic property and spent $3.7 M in exploration of the Santa Maria and Rodeo properties in Chihuahua and Durango respectively.
  • Great Panther Silver Ltd. reported fiscal year 2016 financial results. During the period 376.7 K tonnes were milled to produce 2.05 M Oz Ag, 22,238 Oz Au, at cash cost $10.35 per AgEq Oz and AISC $14.29. The company ended the year with $67 M in net working capital and no debt (Topia, Durango, Guanajuato mine complex, Guanajuato).

ON FINANCING

  • Impact Silver Corp. was ranked on the 2017 TSX Venture 50, among the top performers on the TSX Venture Exchange over the last year, when a 442% increase in share price was achieved, compared with the all-time low during the period.
  • Primero Mining Corp. entered into a binding term sheet with Sprott Resource Lending Partnership for a $75 M revolving credit three year term loan.
  • Leagold Mining Corp. announced the execution of a non-binding term sheet with Orion Resources Partners to provide the company US$20 M in cash through a senior secured loan facility in the principal amount of US$150 M and an equity private placement of US$50 M (Los Filos, Guerrero).
  • Marlin Gold Mining Ltd. announced its intention to purchase, from time to time, an aggregate of 2.48 M common shares in the capital of the company (La Trinidad, Sinaloa).
  • San Marco Resources Inc. announced the exercise of warrants for gross proceeds of $717 K during the period Nov 1st, 2016 to February 15th, 2017 (several properties, Sonora).
  • Source Exploration Corp. closed a non-brokered private placement for gross proceeds of $1.85 M (Las Minas, Veracruz)

ON RESOURCES AND DEVELOPMENT

  • Fortuna Silver Mines Inc. updated mineral reserves and resources to the last day of 2016. Figures on its San Jose mine in Oaxaca include proven and probable reserves of 5.0 M tonnes @ 249 g/t Ag, 1.72 g/t Au, for 40.2 M Oz Ag, 278 K Oz Au; measured and indicated resources of 2.86 M tonnes @ 84 g/t Ag, 0.42 g/t Au for 7.8 M Oz Ag, 39 K Oz Au; and inferred resources of 3.1 M tonnes @ 252 g/t Ag, 1.66 g/t Au for 25.1 M Oz Ag, 165 K Oz Au.
  • Mexus Gold US finished a 4.5 m lift on the leach pad at its Santa Elena mine in Sonora (do not mistake with First Majestic’s Santa Elena mine, also in Sonora). The leaching system started testing on the last week of February. The mining plan goal is to increase ore production to 10 K tons per day by the end of 2017.
  • Primero Mining Corp. updated mineral reserves and resources to December 31st, 2016, including figures for its San Dimas and Ventanas properties in Durango, and Cerro del Gallo in Guanajuato. At San Dimas proven and probable reserves stand at 4.0 M tonnes @ 4.0 g/t Au, 322 g/t Ag, for 517 K Oz Au, 41.2 M Oz Ag; the measured and indicated resources (which include reserves) stand at 5.0 M tonnes @ 5.0 g/t Au, 387 g/t Ag, for 832 K Oz Au, 61.9 M Oz Ag; and inferred resources of 7.2 M tonnes @ 3.7 g/t Au, 317 g/t Ag, for 860 K Oz Au, 73.4 M Oz Ag. Proven and probable reserves at Cerro del Gallo stand at 32.2 M tonnes @ 0.7 g/t Au, 15 g/t Ag, for 712 K Oz Au, 15.3 M Oz Ag; measured and indicated resources (exclusive of mineral reserves) of 47.9 M tonnes @ 0.6 g/t Au, 13 g/t Ag, with no inferred resources. Measured and Inferred resources at Ventanas stand at 0.2 M tonnes @ 2.5 g/t Au, 258 g/t Ag, for 12 K Oz Au, 1.3 M Oz Ag; inferred resources stand at 0.2 M tonnes @ 2.3 g/t Au, 412 g/t Ag.
  • Minera Alamos Inc. announced the completion of a surface rights agreement for its La Fortuna project in Durango. The completion of the agreement enables the company to submit the already prepared mining permit applications. The agreement covers a period of up to 25 years during which time the Company will be required to pay annual rental payments while operating activities are ongoing.
  • Marlin Gold Mining Ltd. reported assay results from the first set of holes in the north side of the pit wall at its La Trinidad mine in Sinaloa. Results include 6.5 m @ 2.59 g/t Au, 9.4 m @ 3.27 g/t Au and 10.2 m @ 2.68 g/t Au. A decision to proceed with a pit layback is pending further assays.

ON DEALS AND CORPORATE ISSUES

  • Santacruz Silver Mining Ltd. signed an agreement to transfer its interest in the El Gachi property in Sonora to First Majestic Silver Corp. for total consideration of US$2.5 M plus tax. “The El Gachi Property comprises a 48,057 hectare land package located adjacent to First Majestic’s Santa Elena Mine…”.
  • Red Tiger Mining Inc. announced that it is currently in violation of certain loan covenants under its senior secured loan with Gerald Metals S.A., owing approximately $18.7 M under the loan agreement. Solvent extraction and electrowining continues from existing copper inventory on the leach pad of the Luz del Cobre mine in Soora, which ceased operations in December 2016.

 

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, broken surface on a boulder from a stream sediment survey in Chiapas, displaying a coarse grained quartz and oxidized sulfide veinlet stockwork in a porphyritic intrusive rock with phyllic alteration, the scale is in centimeters.

porphyry-with-strong-qtz-and-oxsulfide-stckwk

Highlights on the Third Week of January, 2017. Mineral Exploration in Mexico

During the 3rd week of the year (16th to 22nd January, 2017) at least 28 press releases were announced by companies working in Mexico, including six preliminary production reports for 2016. ON EXPLORATION, five companies presented exploration updates. In Sonora exciting high grade gold results from a drilling campaign were announced, also in Sonora another company is defining a zoned porphyry copper alteration center. In Durango the results for the first holes of a large campaign are being received, with some mineralization to show. In Zacatecas a more than 50 m long interval of core shows brecciation, quartz veining and presence of sulfides, in a step-out hole targeting a Ag-Pb-Zn vein, results are pending. In Coahuila work was done during 2016 to define steep structures that could define high grade orebodies. ON MINING, McEwen Mining, Argonaut Gold, Avino Silver, First Majestic, Sierra Metals and Primero Mining presented preliminary fourth quarter and full-year 2016 production figures, and Capstone presented its operational and capital guidance for 2017.  ON FINANCING, One company reported the closing of the first tranche of a non-brokered private financing for $209 K. ON RESOURCES AND DEVELOPMENT, one company reported updated resource estimates for its three mines in Mexico. Another company presented infill and exploration drilling results on its advanced project in Puebla, while one other company presented a PEA on a copper-gold property. A Mexican company boasts the largest manganese reserves in North America. ON DEALS AND CORPORATE ISSUES, a JV has been formed in a silver discovery in Durango; a company with a project in Sinaloa has been approved to list on the NYSE and a property in Sonora has been acquired to bring it into production by a JV.

ON EXPLORATION

  • Evrim Resources Corp. announced initial drill results from its Ermitaño project in Sonora provided by its exploration partner First Majestic Silver Corp. Results for four holes have been received, of a 947 meters drill program, including 18 m @ 11.4 g/t Au, 86 g/t Ag (including 3.3 m @ 34.6 g/t Au, 242 g/t Ag); 9.6 m @ 1.8 g/t Au, 24 g/t Ag; 13.2 m @ 1.1 g/t Au, 29 g/t Ag; 8.8 m @ 0.8 g/t Au. “The Ermitaño West zone …. consists of a network of low to intermediate sulphidation east-west trending epithermal veins and stockwork. The veining covers an area 1,200 metres long by 600 metres wide”.
  • Silver Bull Resources Inc. presented a review of work done in 2016 at its Sierra Mojada property in Coahuila. The company completed a 590 line kilometer airborne magnetic geophysical survey, defining several deep structures coincident with old high grade silver and zinc mines, and some high grade intercepts on drilling. Drilling of 1,400 m on the fourth quarter, 2016, is to be followed by 1,400 m of drilling in the first quarter, 2017. Besides the silver mineralization, Silver Bull previously defined a measured and indicated resource of zinc oxide mineralization of 10 M tonnes @ 11% Zn. During 2017 the plan is to refine the metallurgy, needed for a preliminary economic assessment.
  • Canasil Resources Inc. has completed the first hole of its current drilling campaign at its La Esperanza project in Zacatecas. This hole intersected an extended interval from 345 to 391 meters downhole, carrying banded quartz vein, veinlets and breccias hosted within volcanic rocks. Core is being logged and prepared for assaying; sphalerite, galena and chalcopyrite have been noted. The drill program is planned for 1,500 – 2,000 m of core drilling in four or five holes.
  • San Marco Resources Inc. announced that geologic traverses, prospecting and rock chip sampling identified porphyritic intrusions along the NE contact of a batholith in target #1068 of its partnership with Globetrotters. Preliminary geologic mapping indicates a large zoned alteration system with a potassic (biotite-magnetite) core and a large phyllic (quartz-sericite) envelope.
  • Southern Silver Exploration Corp. reported results from two holes of its 10,000 m drilling campaign at Cerro Las Minitas, Durango. The best intercept was 14.8 true width @ 39 g/t Ag, 0.1% Pb, 10.2% Zn. A second rig is being mobilized to the site to speed-up the program.

ON MINING

  • McEwen Mining Inc. presented production results for 2016, which includes 55,266 AuEq Oz produced at its El Gallo mine in Sinaloa. At the end of the year the company has no debts and $36 M in cash, $21 M in precious metals and $7 M in marketable securities.
  • Capstone Mining Corp. presented its operational and capital guidance for 2017. At Cozamin in Zacatecas, milled tonnes are expected to be lower, but at higher grade than in 2016, with 80% of ore coming from the narrow veined Mala Noche Footwall zone. “All-in cost includes the development costs reflective of the move from the main zone to the footwall zone.” During the year the potential to bring the existing zinc resource into the mine plan will be evaluated. The exploration budget for Cozamin is $5 M, which includes 30,000 m of primarily underground infill drilling aimed at increasing reserves.
  • Argonaut Gold Inc. presented production figures for the fourth quarter and full year 2016. In the fourth quarter, at El Castillo in Durango 16,747 AuEq Oz were produced, and 17,637 AuEq Oz at La Colorada in Sonora. During 2016 El Castillo and La Colorada produced 62,766 and 59,331 AuEq Oz respectively, for a total of 122,097 AuEq Oz. At year end the company had $42 M in cash and $30 M available on an undrawn corporate revolver. For 2017 the company aims to produce 70-80 K AuEq Oz and 45-50 K AuEq Oz at El Castillo/San Agustin Complex and La Colorada respectively, at consolidated cash cost $675-$725 and AISC $910-$960.
  • Avino Silver & Gold Mines Ltd. reported fourth quarter and full year 2016 production results from its Avino property in Durango. The consolidated production for the year was 1.612 M Oz Ag, 7,119 Oz Au and 4.2 M Lb Cu, for a total of 2.679 M Oz AgEq. During the fourth quarter 2016, at the Avino mine 101.6 K tonnes were milled @ 65 g/t Ag, 0.69 g/t Au, 0.37% Cu, with recoveries of 85% Ag, 69% Au and 91% Cu, producing 179.5 K Oz Ag, 1,540 Oz Au, 755,645 Lb Cu; while at the San Gonzalo mine 33.5 K tonnes were milled @ 262 g/t Ag, 1.16 g/t Au with recoveries of 85% Ag, 83% Au, producing 239.8 K Oz Ag, 1,041 Oz Au.
  • First Majestic Silver Corp. presented production results for the full year and the fourth quarter 2016. During the period a total of 11.9 M Oz Ag, 62,436 Oz Au, 33.2 M Lb Pb and 10.6 M Lb Zn were produced. During the fourth quarter production in First Majestic’s five mines was as follows: At Santa Elena in Sonora, 257.8 K tonnes were processed (2,802 tpd) @ 89 g/t Ag (89% recovery) to produce 660.2 K Oz Ag, 11,430 Oz Au. At La Encantada in Coahuila, 235 K tonnes were processed (2,555 tpd) @ 132 g/t Ag (57% recovery) to produce 567.9 K Oz Ag, 22 Oz Au. At La Parrilla, Durango, 153.3 K tonnes were processed (1,666 tpd) @ 130 g/t Ag (78% recovery) to produce 497.4 K Oz Ag, 260 Oz Au, 1.85 M Lb Pb, 1.19 M Lb Zn. At Del Toro in Zacatecas, 82.7 K tonnes were processed (900 tpd) @ 157 g/t Ag (82% recovery) to produce 343.9 K Oz Ag, 70 Oz Au, 5.83 M Lb Pb. At San Martin, in Jalisco, 76.8 K tonnes were processed (835 tpd) @ 254 g/t Ag (81% recovery) to produce 510.4 K Oz Ag, 888 Oz Au. At La Guitarra in Mexico State, 38.4 k tonnes were processed (418 tpd) @ 246 g/t Ag (79% recovery) to produce 239.8 K Oz Ag, 2,073 Oz Au. The company aims to have an AISC $11.96 to $12.88 per silver ounce in 2017.
  • Sierra Metals Inc. reported fourth quarter and full year 2016 production results, which includes figures on its Mexican operations. At Bolivar, in Chihuahua, 950.4 K tonnes were processed (2,715 tpd) @ 1.0% Cu, 16.7 g/t Ag, 0.19 g/t Au (recoveries of 81.7% Cu, 77.8% Ag, 50.5% Au) to produce 17.1 M Lb Cu, 440 K Oz Ag, 2,986 Oz Au. At Cusi, in Chihuahua, 186.9 K tonnes were processed (534 tpd) @ 171.8 g/t Ag, 0.26 g/t Au, 1.2% Pb, 1.1% Zn (recoveries of 71.7% Ag, 61.8% Au, 82.2% Pb, 37.7% Zn) to produce 740 K Oz Ag, 954 Oz Au, 4.1 M Lb Pb, 1.8 M Lb Zn. For 2017 Sierra Metals is aiming to produce with cash cost $1.08 and AISC $1.74 per copper equivalent pound at Bolivar, and cash cost $10.9, AISC $19.66 per silver equivalent ounce at Cusi.
  • Primero Mining Corp. released preliminary fourth quarter and full year 2016 results, which includes figures on its Mexican operations. At San Dimas, in Durango, 28,282 Oz Au were produced in the fourth quarter; to achieve 113,968 Oz Au on the full year, at cash cost $856 and AISC $1,117 per gold equivalent ounce.

ON FINANCING

  • Aura Silver Resources Inc. has closed the first tranche of its non-brokered private placement, for gross proceeds of $209 K (Taviche, Oaxaca).

ON RESOURCES AND DEVELOPMENT

  • Endeavour Silver Corp. reported updated NI-43-101 gold and silver resource estimates for its three operating mines in Mexico, and restated the resource estimates for its exploration properties. On its Guanceví (Durango), Bolañitos (Guanajuato), El Cubo (Guanajuato), Terronera (Jalisco) and Guadalupe y Calvo (Chihuahua) properties, consolidated silver-gold proven and probable reserves amount to 10.55 M Oz Ag, 91,100 Oz Au; measured and Indicated resources to 59.14 M Oz Ag, 483,400 Oz Au and inferred resources to 32.41 M Oz Ag, 296,600 Oz Au. On its Guanaceví (Durango) and Parral (Chihuahua) properties, consolidated silver-gold-lead-zinc indicated resources amount to 5.01 M Oz Ag, 50,300 Oz Au and inferred resources to 4.73 M Oz Ag, 39,400 Oz Au.
  • Almaden Minerals Ltd. released assay results from its exploration and development program at its Tuligtic project in Puebla. Results include intercepts like 8 .8 m @ 1.1 g/t Au, 51 g/t Ag; 34.2 m @ 1.1 g/t Au, 72 g/t Ag; 96 m @ 0.3 g/t Au, 41 g/t Ag; 38.6 m @ 1.1 g/t Au, 106 g/t Ag; 32.6 m @ 1.4 g/t Au, 44 g/t Ag; 105 m @ 1.2 g/t Au, 87 g/t Ag. Those intercepts confirm the existence of additional zones of veining immediately adjacent to the Ixtaca zone.
  • Geologix Explorations Inc. announced the results of a preliminary economic assessment (PEA) report on its Tepal gold/copper project in Michoacan. According to the report (using prices of $1,250/Oz Au, $2.50/Lb Cu and $18 Oz Ag), with a strip ratio of 0.6 : 1 and a mine life of 9.8 years to process 142.9 M tonnes @ 0.33 g/t Au for oxide ore and 0.45 g/t Au, 0.21% Cu for sulfide ore, the mine would produce 766 K Oz Au and 308 M Lb Cu at a rate of 78,572 Oz Au and 31.6 M Lb Cu per year, life of mine average (LOM). Capital requirements are $214 M for pre-production, $86.7 M for LOM sustaining and closure; LOM cash cost calculated at $313 and AISC $ 396 per gold equivalent ounce.
  • Mexus Gold US informed that ore is currently being loaded on the heap leach pad at its Santa Elena mine in Sonora. A larger crusher is being moved to the site to speed up the operation. Setup and install of the Merril Crowe recovery plant is now complete.
  • Compañía Minera Autlán S.A.B. d C.V. has the largest ore reserves of metallurgical grade manganese in North America, amounting to 250 M tonnes of ore (no grade specified). The Molango district in Hidalgo covers 1,250 square kilometers, and according to the USGS de most important deposits of metallurgical grade manganese in North America are in this area.

ON DEALS AND CORPORATE ISSUES

  • Orex Minerals Inc. has earned 55% ownership interest in the Sandra Escobar project in Durango, by paying Canasil Resources Inc. CAD $500 K and spending more than USD $2 M in exploration at the 6,976 has project. A joint venture has been formed; same that will be managed by a joint committee. Orex had the option to earn an additional 10% by paying $500 K to Canasil, and spending further $2 M on the project, Orex has notified Canasil that it will not proceed with the second option.
  • Americas Silver Corp. has been approved to list on the NYSE MKT stock exchange (Cosalá, Sinaloa).
  • Mexus Gold US. acquired the mining concessions comprising the San Felix property in Sonora, for undisclosed payments and terms. The Company also announces the execution of an agreement with MarMar Holdings Inc. whereby each company owns a 50% share of the San Felix Project and designates MarMar as the operator.

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, orogenic gold quartz vein fragment recovered by a gambusino from a placer in the Ojos Negros district, Baja California. The fragment is about two centimeters long.

356a-copia

Preliminary Metallurgical Results Received for the Boleras Main Zone at the Sandra Escobar Project in Durango, Mexico

http://www.kitco.com/pr/1738/article_12152016092451.pdf

Vancouver, BC – Orex Minerals Inc. – (TSX-V: REX) (“Orex”), has received preliminary metallurgical test results for samples from the Main Zone of the Boleras Silver Deposit at the Sandra Escobar Project in Durango, Mexico. This project is being advanced by Orex under an option agreement with Canasil Resources Inc. – (TSX.V: CLZ) (“Canasil”). Results are now available for five samples, with increasing head grades, taken from across the Main Zone of the Boleras Silver Deposit. These results illustrate that recovery is grade dependent. A portion of the silver-bearing mineralogy is recoverable with leaching techniques, including hydrochloric acid (HCl), or sulphur dioxide (SO2) pre-treatment before cyanidation, and a portion is refractory, requiring more investigation. An extra high-grade sixth sample was also prepared for mineralogical work and was tested by the same methods at the Kemetco Research Inc. (“KR”) laboratory.

Riverside Resources: Update on Partner-Funded Exploration Program at Glor Gold Project

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/866-tsx-venture/rri/26664-riverside-resources-update-on-partner-funded-exploration-program-at-glor-gold-project.html

Riverside Resources Inc. (“Riverside” or the “Company”) (TSX VENTURE:RRI / OTC PINK:RVSDF / FRANKFURT:R99), is pleased to report on the progress of the $250,000 USD partner-funded exploration program that is being conducted with Centerra Gold Inc. (“Centerra”) at the Glor Gold Project (the “Project”), located approximately 8 km west of Alamos Gold’s El Chanate Mine in Sonora, Mexico. Geologic mapping and soil sampling results have been very encouraging, having defined a gold-in-soil anomaly and zone of hydrothermally altered rocks that is more than 2 kilometres long. Induced polarization (IP) surveying has also returned positive results; a zone of anomalous chargeability that in extent closely matches the soil geochemistry anomaly has been defined by the survey. Ongoing channel sampling and soon to be initiated mechanical trenching are being carried out to further refine targets for drilling which is anticipated to commence in early 2017.

First Mining Finance Enters Into Sales Agreement With BRS Ventures for Three Mexican Silver Assets

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1525-tsx-venture/ff/23773-first-mining-finance-enters-into-sales-agreement-with-brs-ventures-for-three-mexican-silver-assets.html

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 22, 2016) – First Mining Finance Corp. (“First Mining” or the “Company”) (TSX VENTURE:FF)(OTCQX:FFMGF) is pleased to announce that it has signed an agreement (the “Agreement”) with BRS Ventures Ltd. (“BRS”), under which First Mining will sell all the issued and outstanding shares of Minera Terra Plata S.A. de C.V. (“Terra Plata”), a subsidiary of First Mining, which owns the Peñasco Quemado, La Frazada and Pluton properties (the “Properties”) located in Mexico.

Otro año de precios a la baja de materias primas, advierte Banco Mundial.- El Financiero

http://www.elfinanciero.com.mx/economia/otro-ano-de-precios-a-la-baja-de-materias-primas-advierte-banco-mundial.html

Los precios de todas las materias primascontinuarán en descenso durante 2016 debido a una oferta persistentemente elevada y en el caso de materias primas industriales, por el débil crecimiento estimado en las economías de mercados emergentes, advierte elBanco Mundial en su informe sobre “Expectativas del Mercado de Commodities”.

Los precios de materias primas no energéticas se estima caigan 3.7 por ciento durante este año. La cotización de los metales podría reducirse 10 por ciento, extendiendo la caída de 21 por ciento del año anterior debido a la más débil demanda estimada en las economías de mercados emergentes y nueva capacidad.

Autlán anuncia cierre indefinido de la planta Gómez Palacio

http://www.cnnexpansion.com/negocios/2016/01/06/autlan-anuncia-el-cierre-indefinido-de-planta-gomez-palacio

CIUDAD DE MÉXICO (CNNExpansión) — La compañía minera Autlán anunció este miércoles el cierre indefinido de la planta de ferroaleaciones Gómez Palacio.

“Autlán se ve en la necesidad de prolongar en forma indefinida la suspensión de las operaciones de la planta Gómez Palacio a partir de esta fecha para disminuir los costos de operación”, informó este miércoles la empresa en un comunicado enviado a la Bolsa Mexicana de Valores.