The Mining and Exploration News in Mexico: Highlights on the Second Week of July, 2019

IMG_2611 - copia

By Jorge Cirett

During the 28th week of the year (July 8th to July 14th, 2019), at least 27 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, Camimex announced investments for US$2,705 M on new gold projects from 2019 to 2024. The same organism informed Mexico’s gold production declined 6.7% between 2017 and 2018. ON EXPLORATION, In Baja California, One World Lithium released results from drilling at Salar del Diablo. In Sonora, Magna Gold started its phase one exploration program at its Mercedes project on the Santa Rosa de Yecora district. In Chihuahua, Sable Resources received the drilling permit for its Vinata project. In Coahuila, Discovery Metals received the drilling permit for its Monclova project. In Guanajuato, Fresnillo explores near Mineral de La Luz. ON MINING, Torex Gold, Coeur Mining, Great Panther, GoGold Resources and Endeavour Silver presented production results for the second quarter of 2019. ON FINANCING, Mexican Gold Corp, Impact Silver, One World Lithium, Oceanus Resources, Silver One Resources, Advance Gold and Millrock undertook or completed tranches of financing rounds for a combined $13.45 M. Evrim Resources granted 1 M stock options to an officer. ON RESOURCES AND DEVELOPMENT, SilverCrest Metals filed the PEA on Las Chispas, Sonora. VVC Exploration received the environmental permit  and a land use change permit for its Samalayuca project in Chihuahua. SilverCrest Metals released high grade results from underground sampling of the Babicanora vein at Las Chispas, Sonora. Goldplay released good gold results from trenching on an extension of the Nava zone on its San Marcial project in Sinaloa. ON DEALS AND CORPORATE ISSUES, Orex Minerals and Pan American Silver entered into an agreement to negotiate a formal JV agreement on the Sandra Escobar project in Durango. Oroco Resources signed a letter of agreement to acquire the 766 ha. Rossy concession adjacent to Oroco’s land package on the Santo Tomas district in Sinaloa.


  • Camimex (Cámara Minera de México), informed on a list of new gold producing projects that involve the investment of US$2,705 M between 2019 and 2024. Among the biggest investments are those of Torex Gold (US$482 M) in Media Luna, Guerrero; Grupo Mexico’s (US$413 M) Buenavista Zinc in Sonora and Fresnillo’s (US$350 M) Orisyvo in Chihuahua. Other investments include the second dynamic leaching plant at La Herradura; the Pyrites plant in Fresnillo; Goldcorp’s Pyrite plant in Peñasquito, Zacatecas; and Endeavour’s El Compas in Zacatecas; Candelaria Mining is to start operations at Pinos, Zacatecas; Mag Silver and Fresnillo are to begin production at Juanicipio, Zacatecas; Telson Resources is to finish construction of the mine at Tahuehueto, Durango; Hecla’s will continue with open pit and then underground operations at San Sebastian, Durango.
  • Camimex stated that during 2018 Mexico’s gold production diminished 6.7% compared with 2017, reaching 3.8 M Oz Au. Five companies produced more than half of the overall gold production in 2018: Fresnillo (24.1%), Torex Gold (9.3%), Agnico Eagle (8.5%), Goldcorp (7.1%) and Minera Frisco (6.5%) (Editor’s note.- This last company has the dubious honor of being the most opaque for disclosing production, reserves and resources from its projects in Mexico).


  • Sable Resources Ltd. has received the permit needed to drill the Vinata project in Chihuahua. The surface agreements have been approved by the local community for an initial 2,500 m diamond drill program “to test the vertical continuity and mineral zoning along a section of the Vinata vein system where the veins are observed outcropping over 1000 m along strike”. Sable will contract a ground electromagnetic survey (CSAMT) to better define the vein system at depth and the contacts between a felsic dome and volcanic and sedimentary rocks. The mineralisation at Vinata occurs as a series of quartz veins that outcrop for 1,200 m, with multiple sub-parallel veins and stockwork zones over a width of 15 to 170 m, with individual veins ranging to up to 12 m in width.
  • One World Lithium Inc. released results from drilling at its Salar del Diablo property in Baja California (there is not a state named Baja California Norte in Mexico). The drill holes did not reach the target depths due to “the constant sluffing of sand, presence of multiple clay formations, unconsolidated gravel and rubble”. The highest lithum grade in sediment samples was 273 ppm Li, whereas the water samples are thought to have been diluted by the injection of significant amounts of fresh water while drilling. The Company intends to resume its 4,250 foot drilling program before the end of September 2019.
  • Discovery Metals Corp. has been granted drilling permits for its Monclova project in Coahuila. “The Real Viejo area is the key near-term target. It hosts five historic shallow underground mines along a strike of 1.5km at a limestone-intrusive rock contact”, with rock channel samples averaging 277 gpt Ag, 6.7% Zn, 1.9% Pb. The Real Viejo area is 2 square-km in size and is located along the southern contact of the Monclova intrusive complex, where a series of Ag-ZnPb mineralised, silica-rich vein, replacement bodies (mantos), skarn-altered embayment zones and breccias 2-10 m wide are located.
  • Fresnillo Plc. is realizing exploration work in the Guanajuato district, mainly near Mineral de La Luz.
  • Magna Gold Corp. initiated its phase one exploration program on the Mercedes project in Sonora. The aim on this phase is to confirm the existence (suggested by historical drilling) of an oxide zone of quartz stockwork Au-Ag mineralisation 60 m wide and 220 m long, and a surface study including geological mapping of a 500 ha zone and  systematic rock chip and soil geochemical surveys.


  • Torex Gold Resources Inc. reported Q2 2019 gold production of 113,600 Oz Au at its Limon-Guajes mine in Guerrero. Plant throughput averaged 11,670 tonnes per day (tdp), underground mine production was 1,280 tpd, open pit ore production was 18,600 tpd and the open pit strip ratio was 6.8:1.
  • Coeur Mining Inc. announced second quarter 2019 production. At Palmarejo, in Chihuahua, 447.7 K tonnes were milled @ 2.18 gpt Au, 147.4 gpt Ag, with recoveries of 87.7% Au, 81.8% Ag to produce 28,246 Oz Au, 1.7 M Oz Ag. Production at the La Nacion deposit began and is anticipated to add 400 tpd of mill feed.
  • Great Panther Mining Ltd. presented second quarter 2019 results including figures from its Mexican operations. At Topia, in Durango 18.4 K tonnes were processed @ 392 gpt Ag, 1.01 gpt Au, recovering 93.9% Ag, 58.9% Au to produce 218 K Oz Ag, 353 Oz Au, 453 tonnes Pb, 575 tonnes Zn. At the Guanajuato mine Complex, solely from the San Ignacio mine, 45.5 K tonnes were processed @ 2.52 gpt Au, 105 gpt Ag, recovering 85.5% Ag, 87.0% Au, to produce 388.4 K Oz Ag, 3,209 Oz Au.
  • GoGold Resources Inc. reported production results from its tailings project in Parral, Chihuahua. During the period 250 K Oz Ag, 2,281 Oz Au were recovered.

Endeavour Silver Corp. disclosed second quarter 2019 production results from its four mines in Mexico.

Endeavour Q2 2019 Production table1


  • Mexican Gold Corp. is undertaking a non-brokered private placement for aggregate gross proceeds of up to $4 M (Las Minas, Veracruz).
  • Impact Silver Corp. completed the first tranche of its non-brokered private placement, raising gross proceeds of $1.23 M, and announced the increase on the second tranche of financing to up to $1.5 M (Zacualpan, Estado de Mexico).
  • Evrim Resources Corp. announced the approval of the grant of 1 M stock options to an officer under the terms of the company’s stock option plan (Cerro Cascaron, Chihuahua).
  • One World Lithium Inc. closed the first tranche of its private placement financing, raising CDN$734.6 K (Salar del Diablo, Baja California. Please note there is not a Baja California Norte state in Mexico).
  • Oceanus Resources Corp. closed a non-brokered private placement raising $750 K (El Tigre, Sonora).
  • Silver One Resources Inc. increased its previously announced private placement, for gross proceeds of $5 M (La Frazada, Nayarit).
  • Advance Gold Corp. closed the non-brokered private placement financing previously announced, for gross proceeds of $234 K (Tabasquena, Zacatecas).
  • Millrock Resources Inc. plans to raise gross proceeds of between $1 M and $1.5 M through a non-brokered private placement. Finder’s fees of 7% cash and 7% finder’s warrants may be paid in connection with the Offering (Batamote, Sonora).


  • SilverCrest Metals Inc. filed the technical report titled “Technical Report and Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico”. The PEA results were previously released.
  • VVC Exploration Corp. received the environmental permit and a land use change permit for its Samalayuca copper property in Chihuahua. With those permits the company can initiate mining operations in the Gloria zones of the Kaity claim. VVC began bench testing with mineralised material from the Gloria zones to assess metallurgy with different crush sizes and acid flow rates.
  • SilverCrest Metals Inc. provided the first underground sample results from the Babicanora vein on its Las Chispas project in Sonora. A total of 133 samples were collected from blast faces for 35 m of a 3.5 m by 3.5 m drift along the vein, same that averaged 2.6 m (vein width) @ 13.70 gpt Au, 1,107 gpt Ag (or 2,132 gpt AgEq). Some of the best intervals released comprise: 3.9 m @ 62.66 gpt Au, 4,610 gpt Ag (including 0.6 m @ 336 gpt Au, 26,435 gpt Ag); 4.1 m @ 13.91 gpt Au, 709 gpt Ag; 3.5 m @ 16.69 gpt Au, 2,192 gpt Ag; 1.8 m @ 53.18 gpt Au, 3,548 gpt Ag; 3.2 m @ 12.89 gpt Au, 799 gpt Ag; 5 m @ 16.69 gpt Au, 2,192 gpt Ag; 3.2 m @ 18.74 gpt Au, 459 gpt Ag; 2.1 m @ 14.77 gpt Au, 1,542 gpt Ag; 2.5 m @ 15.27 gpt Au, 1,426 gpt Ag; 2.5 m @ 21.73 gpt Au, 1,231 gpt Ag.
  • Goldplay Exploration Ltd. encountered a broad gold zone at the Nava target of its San Marcial project in Sinaloa. The results come from a zone 300 m west of the first Nava trenches, where a 31 m true width (tw) zone mineralised zone of epithermal quartz veins and a zone of intense stockwork which returned 17.7 m (tw) @ 2.11 gpt Au. The target is to be drill tested on the next drill program with a couple of holes.


  • Orex Minerals Inc. entered into an agreement with Pan American Silver Corp. to negotiate a formal JV agreement on the Sandra Escobar project in Durango, to replace a previous agreement from 2015, and will suspend the operation of the 2015 agreement until the new agreement is entered into, or until December 31, 2019, whichever is earlier.
  • Oroco Resources Corp. entered into a letter of agreement for the acquisition of an 80% interest in the 766.7 ha Rossy mining concession located within Oroco’s land package on the Santo Tomas district in Sinaloa. The company has to pay US$125 K over two years and issue 300 K shares and grant 1.5 NSR.

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

On the image below, orogenic gold style milky quartz vein bearing pyrite and jarosite in Oaxaca. Picture by Jorge Cirett

IMG_2611 - copia

Silver Spruce Provides Update on Pino de Plata

Silver Spruce Resources Inc. Jul 15, 2019

July 15, 2019 – Bridgewater, NS – (TSXV:SSE) — Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) is providing the following updates on the Pino de Plata project.

Immediately following the Company’s announcement on May 15, 2019, of its plan to commence Phase I drill program at Pino de Plata, crews from ECODRILL and ProDeMin arrived on-site to secure drill pads. The surface landowners have granted access rights to their cattle ranch that covers the project area since July 2015, they signed the Informe Preventivo (drill permit application) in July 2018, and they most recently granted access during the field programs the Company conducted in March through May 2019.

First Majestic Produces 6.4 Million Silver Equivalent Ounces in Second Quarter; Provides Conference Call Details


VANCOUVER, British Columbia, July 15, 2019 (GLOBE NEWSWIRE) — First Majestic Silver Corp. (“First Majestic” or the “Company”) announces total production in the second quarter of 2019 reached 6.4 million silver equivalent ounces, representing a 2% increase compared to the prior quarter. Total production consisted of 3.2 million ounces of silver, 33,576 ounces of gold, 2.5 million pounds of lead and 1.4 million pounds of zinc. In the first half of 2019, total production reached 12.7 million ounces, or approximately 49% of the Company’s guidance midpoint of producing 24.7 to 27.5 million silver equivalent ounces in 2019.

Fortuna reports production of 2.4 million ounces of silver and 13,497 ounces of gold for the second quarter of 2019


Vancouver, July 15, 2019 – Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to report production results for the second quarter of 2019 from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The Company produced 2.4 million ounces of silver and 13,497 ounces of gold plus base metal by-products. Silver and gold production for the first six months totaled 4.6 million ounces and 26,811 ounces respectively; being 5 percent above and 1 percent below the Company’s mid-year projection respectively. Fortuna is on schedule to produce 8.2 – 9.0 million ounces of silver and 49 – 54 thousand ounces of gold or 11.7 – 12.9 million Ag Eq1 ounces in 2019 in accordance with our annual production guidance (refer to Fortuna news release dated January 17, 2019).



VANCOUVER, British Columbia, July 15, 2019 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) announces it has acquired the exploration and exploitation rights to two properties adjacent to the Guanacevi Mine in Durango State, Mexico.  Both properties cover possible extensions of Endeavour orebodies (view property map and longitudinal section here).

Silver Spruce Announces Advanced Gold Project Acquisition

Silver Spruce Resources Inc. – Mon Jul 15, 2019

July 15, 2019 – Bridgewater, NS – (TSXV:SSE) — Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) is pleased to announce that it has signed a binding Letter of Agreement (“LOA”) with Prospeccion y Desarrollo Minero del Norte, S.A. de C.V. (“ProDeMin”) to assume ProDeMin’s option agreement to acquire 100% of the Cocula project, an advanced gold project in the Ameca mining district of Jalisco State, Mexico. The project is located within a very active exploration and mining region with several nearby projects including Agnico Eagle’s El Barqueño exploration project and Endeavour Silver’s Terronera development project. The LOA awards a Right Of First Refusal with a six-month due diligence period to Silver Spruce.

Mantiene exploración la minera Fresnillo

Mantiene exploración la minera Fresnillo

Guanajuato.– La empresa minera ‘Fresnillo plc’ por el momento no realiza trabajos de explotación pues solamente se dedica a la exploración con la que buscan encontrar nuevos yacimientos de mineral.

Esto lo informó el coordinador de Control Ambiental de la empresa, Luis Ayala, que aseveró que aunque no han parado las labores sí disminuyeron la producción