Vancouver, British Columbia — Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull”) is pleased to provide results of the final three drill holes from the first zone of the underground drill program targeting the newly discovered Sulphide Zone, which sits under the previously defined oxide zone on the Sierra Mojada Project in Coahuila, Northern Mexico.
Vancouver, British Columbia- (Newsfile Corp. – March 14, 2018) – Prospero Silver Corp (TSXV: PSL) (the “Company” or “Prospero”) is pleased to announce that a limited 3-hole drill program at the Pachuca SE project close to the historic mining city
of Pachua in Hidalgo State, Mexico, has discovered a new gold and silver-bearing epithermal vein system. Drilling of the Pachuca targets completes the third of three initial projects funded by Fortuna Silver in early stage “proof of concept” programs.
Under the terms of a strategic investment from Fortuna Silver Mines Inc (NYSE: FSM, TSX: FVI) made in May 2017, phase one funding of $1,500,000 was applied of which 80% was to be allocated to drilling and 20% to new project generation. Prospero
was the operator of all three drill projects. At Pachuca, an 1,800m drill program tested 3 targets with deep, angled holes. Drill collar maps and draft sections for the Pachuca drill holes are available on Prospero’s website at: http://www.prosperosilver.com/s/Pachuca-SE.asp. The results published here are from initial priority assays. Additional samples are being processed for interesting zones in all three holes.
VANCOUVER, British Columbia, March 13, 2018 (GLOBE NEWSWIRE) — Alio Gold Inc (TSX:ALO) (NYSE AMERICAN:ALO) (“Alio Gold” or the “Company”), is pleased to provide the results of the first drill hole from its surface drill program at its 100% owned Ana Paula project in Guerrero, Mexico. The 3,800 metre surface diamond drill program was initiated in January 2018 and consists of six drill holes of 600 to 700 metres each targeting the complex breccia extension below the proposed open-pit.
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).
- 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.
- 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.
- 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.
- 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!).
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.
Reno, Nevada – Magellan Gold Corporation (OTCQB: MAGE) (“Magellan” or “the Company”) announced that it has rehired employees and is restarting its 100% owned SDA Mill, Nayarit State, Mexico. Initially, operations will reprocess tailings located at the mill site. The tailings are waste products left from previous processing of ore but still contain low values of gold and silver. Recovery of a portion of these remaining precious metals is 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. The Company completed acquisition of the SDA Mill in November 2017.
Vancouver, B.C. — Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports its operating results from the Veta Grande Project in Zacatecas, Mexico and Rosario Project in Charcas, San Luis Potosi, Mexico for the fourth quarter (“Q4”) and year ended December 31, 2017 and provides an operations update.
CABORCA, SONORA STATE, MEXICO, March 5th, 2018 (GLOBENEWSWIRE) — Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) released a report written by geologist Cesar Lemas on its Ures property located near Hermosillo, Mexico. The preliminary geological report details initial sampling done on the properties 3 concessions- 370, 8 Brothers, and Scorpio.
March 5, 2018 – VANCOUVER, BRITISH COLUMBIA: Levon Resources Ltd. (TSX:LVN) (“Levon” or “the Company”) is pleased to announce the 2018 updated NI 43-101 mineral resource estimate and a 2018 Preliminary Economic Assessment (“PEA“) for the Cordero silver, zinc, lead, and gold porphyry project, located 35 kilometers northeast of Hidalgo Del Parral, Chihuahua State, Mexico. Levon expects to continue its evaluation of the Cordero flagship project with the intent of advancing it to the prefeasibility or feasibility stage, and to seek a strategic partner. The timeline and estimated capital required to advance the project to the next stage are under review. The 2018 resource update includes the 2014 Cordero NI 43-101 resource (news release of October 20, 2014) and the results of 2017 infill resource drilling (news release of September 26, 2017).
By Miguel A Heredia
During the 9th week of the year (February 26th to March 4th, 2018), at least 25 press releases were announced by companies working in Mexico, with six reporting deals and corporate issues, six providing exploration results, and two announcing financing rounds. ON MEXICO ISSUES, Torex clarified media misinformation in Guerrero. ON EXPLORATION, In Sonora, Aztec Minerals reported drilling results at its Cervantes property, and San Marco completed an IP survey at its 1068 project. Azure reported exploration results on Mina Blanca prospect within its Oposura project. In Chihuahua, Mammoth and Golden Minerals announced drill results at its Tenoriba and Santa Maria projects respectively. Golden Minerals also reported drill results at its Mogotes project in Durango. In Zacatecas, Defiance Silver identified a large target within its San Acacio project; Advanced Gold revealed exploration plans on its Tabasquena project. In Puebla, Almaden reported drill results at its Ixtaca project. ON MINING, Mexus Gold restarted the pad leaching at its Santa Elena Mine in Sonora (Caborca). Goldgroup announced 2017 gold production and expansion plans for its Cerro Prieto Mine in Sonora. Bacanora Minerals reported positive economics and favourable operating cost for its Sonora Lithium project in Sonora. Santacruz reported mill expansion capacity on its Veta Grande Mine in Zacatecas. Endeavour and Golden Minerals reported 2017 financial results on its Mexican operations. ON FINANCING, Almaden announced a proposed private placement for $ 5.6M, and announced a subscription agreement with Newcrest Mining for gross proceeds of $ CAD 19M. Azure secured funding of approximately A$ 8.2M. ON RESOURCES AND DEVELOPMENT, Golden Minerals encountered mineralization in 14 holes drilled to increase the size of the existing resource estimate in its Santa Maria project in Chihuahua. Americas Silver provided an update on exploration results at its 120 zone, within the Cosala Mine in Sinaloa. Santacruz Silver announced additional drilling at its Veta Grande Mine in Zacatecas. In Veracruz, Mexican Gold Corporation reported drilling results from its Las Minas projects, in Veracruz. ON DEALS AND CORPORATE ISSUES, Excellon entered in a toll mill agreement with Hecla. Golden Minerals extended an option with HECLA to lease its oxide mill located in Velardeña, Durango. The company also amended the Celaya farm-out agreement with Electrum Global. Gainey Capital signed a letter of intent for the purchase and processing of a bulk sample with Grupo Wolinak. Newcrest acquired interest in El Cobre project. Torex appointed CFO. Dyna Resources announced favorable decision on its conflict with Goldgroup.
ON MEXICO ISSUES
- Torex Gold Inc., clarified media misinformation regarding a land agreement with Real del Limon Ejido in Guerrero. The company confirmed a binding 30-year land lease agreement with the Ejido.
- Aztec Minerals Corp., announced phase 1 drill results at its Cervantes project in Sonora. Significant drill results comprise 122m from surface of 0.60 g/t Au, including 62m of 0.88 g/t Au, and 170m from surface returning 0.42 g/t Au, including 32m of 0.87 g/t Au. This phase 1 drill program is focused on defining oxide gold mineralization in the upper 200m.
- San Marco Resources Inc. , completed a 2km by 2.8 km grid IP survey at its 1068 porphyry copper, gold and molybdenum project in Sonora. This survey detected a 1.2 km by 1.3km chargeability anomaly which coincides with pervasive quartz-sericite-clay-pyrite ± iron oxide alteration previously mapped on surface.
- Azure Minerals Limited, identified a 500m long by 250m wide strong zinc and lead soil anomaly at its Mina Blanca prospect within the Oposura project in Sonora and is coincident with high-grade mineralization from a rock sample collected in the Mina Blanca old working. Soil samples were tested with a portable XRF analyzer, with values reaching highs of 0.32% Zn and 0.15% Pb. The rock sample from the Mina Blanca old working returned 1.71 g/t Au, 1,600 g/t Ag, 4.6% Cu, 1.6% Pb, and 2.8% Zn. Azure announced further exploration plans, including drilling for its Oposura project.
- Mammoth Resources Corp., announced results of two holes drilled at its Tenoriba project in Chihuahua in the Moreno and Masuparia areas. El Moreno area drill hole intercepted 7.2m of 0.23 g/t Au, 36 g/t Ag and 3.59 % Cu, while the Masuparia area hole returned 27m of 0.51 g/t Au from 28m depth, including 8.4m of 1.30 g/t Au, and 23.5m from 70m depth of 1.30 g/t Au, including 10m of 2.9 g/t Au and 5m of 4.9 g/t Au.
- Golden Minerals Company, drilled 8 holes in its Mogotes project in Durango, with low grade gold mineralization intercepted on 2 holes. The epithermal system seems to be deeper than the surface geochemical values initially indicated. Additional mapping and sampling is ongoing in the northern portion of the property.
- Defiance Silver Corp., carried out an IP survey at its San Acacio project in Zacatecas. The IP survey identified a 200m long by 300m wide target along the underexplored 900m Veta Grande vein, and requires an additional IP survey to close off the anomaly on the property. This undrilled target has the potential to host a virgin silver ore shoot at depth.
- Advance Gold Corp., announced plans to carry out underground mapping & sampling at its Tabasquena mine in Zacatecas, along with an IP survey followed by a drill program. The aim of the IP survey is to delineate the veins and trace their extension along strike.
- Almaden Minerals Ltd., intersected 10m of 2.1 g/t Au, including 2m of 8.2 g/t Au from a drill hole located approximately 1.2 km southeast of the PFS open pit at its Ixtaca project in Puebla.
- Mexus Gold US.- restarted the pad leaching at its Santa Elena Mine in Sonora (Caborca), after fixing some recovery problems.
- Goldgroup Mining Inc., presented its annual gold production for 2017 at Cerro Prieto Mine in Sonora. The company produced 4,670 Oz Au in Q4 for a total 2017 production of 14.7K Oz Au. Goldgroup also announced expansion plans for its mine, including the acquisition of an adjacent property to Cerro Prieto Mine, and expects to produce over 22K to 25K Oz Au in 2018.
- Bacanora Minerals Ltd., reported positive economics and favourable operating cost of 35K tonnes per year battery grade lithium carbonate operation, confirmed in recently FS on its Sonora Lithium project, in Sonora. The company also secured access and surface rights agreements and the environmental permit for the construction of an open pit mine and large-scale processing plant in site.
- Santacruz Silver Mining Inc., reported 85% progress of the mill expansion capacity to 750 tonnes per day on its Veta Grande Mine in Zacatecas. The mill expansion is being funded by Carrizal Mining S.A. de C.V.
- Endeavour Silver Corp., reported 2017 financial results of its Mexican operations (six mines). The company produced 4.9M Oz Ag and 53K Oz Au during the year.
- Golden Minerals Company, reported 2017 financial results from its Mexican operations.
- Almaden Minerals Inc., announced a proposed private placement to raise $ 5.6M to continue drilling its El Cobre project in Veracruz. In addition, the company also announced a subscription agreement with Newcrest Mining ltd. for aggregate gross proceeds of $ CAD 19M. Newcrest will acquire an indirect interest of 19.9% in El Cobre project.
- Azure Minerals Limited, secured an oversubscribed A$ 8.2M placement to advance its Sara Alicia and Oposura projects in Sonora, fund ongoing exploration activities and provide general working capital.
ON RESOURCES AND DEVELOPMENT
- Santacruz Silver Mining Inc. announced an expansion to include 3,000m of underground additional drilling at the Armados vein to better delineate a mine plan at its Veta Grande Mine in Zacatecas. It also reported on the expansion of mill capacity, which is being funded by Carrizal Mining S.A. de C.V.
- Mexican Gold Corp., revealed results from the resource expansion drilling program carried out at its Las Minas project in Veracruz. Significant results returned 38m of 4.5 g/t Au, 16 g/t Ag, and 3.3% Cu, confirming the continuity of the high-grade mineralization encountered in previous drill holes. This result will increase the tonnage and grade of the maiden mineral resource estimate.
- Endeavour Silver Corp., announced a PFS at its Terroneras project in Jalisco, advancing the project towards a production decision, having received permits to build the mine and plant, and awaiting waste dump and tailings permits. It also completed a PEA at it’s the El Compas Mine in Zacatecas and has taken the decision to start the mine construction.
ON DEALS AND CORPORATE ISSUES
- Excellon Resources Inc., announced an agreement with Hecla to toll mill sulphide ore from the San Sebastian Mine in Durango at its Miguel Auza processing plant in Zacatecas. The agreement envisages 400 tonnes per day or 12,000 tonnes per month to be milled at the plant.
- Golden Minerals Co. extended an option to lease its oxide mill to Hecla for an additional period of up to two years in exchange for a $1 M cash payment and the purchase of $1M in shares. The company also amended the Celaya (in Guanajuato) farm-out agreement with Electrum Global Holdings LP., same that will earn and additional 20% interest in exchange of a $1M payment, with the possibility to increase its interest to 80% by spending an additional $2.5M.
- Gainey Capital Corp., signed a letter of intent for the purchase and processing of a bulk sample with Grupo Wolinak.
- Newcrest Mining Ltd., acquired indirect 19.9% interest in El Cobre project, in Veracruz, through the investment of $ CAD 19M.
- Torex Gold Resources Inc., appointed CFO.
- Dyna Resources Inc., announced a favorable decision from a US District Court Magistrate Judge on its conflict on San Jose de Gracia Mine in Sinaloa with Goldgroup Mining Inc.
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, chalcopyrite – magnetite mineralization on drill core from the Las Minas project in Veracruz State. Image from the March 3rd 2018, Mexican Gold Corp. press release.
Mexican Gold Corp. (the “Company” or “Mexican Gold”) (TSX-V: MEX / OTCQB: EXGF / FRA: 4QW1) is pleased to announce that recent drilling at the El Dorado Dike Contact Zone confirms the continuity of the high – grade mineralization outlined in the 2017 Phase 2 resource expansion drilling program.