COLORADO SPRINGS – March 25, 2019 – Gold Resource Corporation (NYSE American:GORO) (the “Company”) today announced it has begun the initial stages of gold processing by applying and circulating leach solution to ore loaded on the heap leach pad at the Isabella Pearl Project, within its Nevada Mining Unit, located in Mineral County, Nevada. The Company not only remains on target to produce first gold at Isabella Pearl by June 2019, but is evaluating the possibility of selling gold sooner in carbon form. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, U.S.A. The
Company has returned $111 million to its shareholders in monthly dividends since commercial production commenced July 1, 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery
During the 12th week of the year (March 18th to
March 24th, 2019), at least 20 press releases were announced by
companies working in Mexico. ON MEXICO ISSUES, a worrisome statement
from the Mexican president regarding the mining concessions makes evident the
need to augment the interaction of the mining industry with all levels of
government. ON EXPLORATION, in
Sonora, Riverside Resources disclosed initial results from exploration work at
its recently staked Sandy project; In Chihuahua, Sable released exciting drill
results from its Margarita project; Kootenay presented results from surface
sampling at its Mecatona property; Evrim and Harvest Gold released final drill
results from Cerro Cascaron; Silver Spruce is defining shallow targets for an
incoming drill program. In Durango, Gainey Resources indicated that the main
vein system at its Las Margaritas project is over 3 Km long. In Veracruz,
Azucar Minerals presented long and favorable results from one more hole at El
Cobre. ON MINING, Torex Gold paid US$11.9 M in taxes during 2018.
Excellon reported financial results for Q4 and full year 2018. ON FINANCING, Sonoro Metals is
to undertake a financing round to raise up to $650 K. First Majestic is to
extend its share repurchase program. Solaris Copper closed a C$3.9 M placement.
ON RESOURCES AND DEVELOPMENT,
Almaden Minerals. Issued a Report on Corporate Social Responsibility for its
Ixtaca project in Puebla, and submitted an environmental report for permitting.
VVC Exploration updated its resource estimate for the Samalayuca project in Chihuahua.
Gold Resource reported on a high-grade result from sampling a new crosscut
during development at its El Aguila project in Oaxaca. ON DEALS AND CORPORATE ISSUES, Silver One hired Strata-Star
Group for investor relations.
ON MEXICO ISSUES
On a worrisome statement for the Mexican mining industry, during one
of his daily press conferences the president of Mexico, Andres Manuel Lopez Obrador, expressed that although no mining concession is to be revoked, no
more mining concessions are to be granted. The only requisites are that mining
companies, “specially the Canadian ones”, conduct a clean mining operation,
that miners are well paid and that they pay the same tax rates than in Canada. He
added that the concessions delivered by past governments in the last 36 years
were about 40 to 50 M hectares, meaning 30% of the national territory “and they
wouldn’t finish with it in a thousand years”.
Note from editor. In the view of this letter editor, the president words express a lack
of knowledge about the rigid guidelines under which exploration and mining international
companies, and Canadian ones in particular, obtain financing, explore, interact
with the communities, develop, mine and reclaim the used land. On his other
remarks, mining companies pay salaries above average in Mexico, and if Canadian
companies followed the Mexican president words, they would be paying fewer
taxes, not more. Mexico needs more land under mining concessions, not less, as
these concessions, besides paying hefty duties, are the basis for investments that feed a long
chain of service providers that benefit hundreds of thousands of Mexicans. It
is clear and evident that we, as part of the mining industry, need to invest
the time and resources to educate the different levels of government about the
benefits of mining.
Gainey Resources Capital Corp. reported
that mapping and sampling of its newly-optioned Las Margaritas project in Durango
has extended the strike of the main vein system to 3.5 Km, collecting grab
samples with assays of up to 73.7 gpt Au. The best mineralization is along a
1,750 m section where 15 of 25 samples assayed more than 1 gpt Au, and six of
those more than 5 gpt Au. “Gold mineralization occurs within druzy quartz
veins, veinlets and stockworks with up to 3% disseminated pyrite”, with variable
widths of up to two metres.
Evrim Resources Corp. along with
exploration partner Harvest Gold
Corp., released final results from the recently finished ten-hole drill
program at its Cerro Cascaron project in Chihuahua. Highlighted results comprise:
At Serpiente Dorada, 1.0 m @ 20.10 gpt Au, 22.5 gpt Au, within 6.5 m @ 3.29 gpt
Au, 6 gpt Ag; 11.5 m @ 0.48 gpt Au, 4 gpt Ag and 1 m @ 1.57 gpt Au, 1 gpt Ag.
At San Pedro, 4.8 m @ 1.02 gpt Au, 13 gpt Ag; 0.35 m @ 5.39 gpt Au, 24 gpt Ag;
2.4 m @ 0.98 gpt Au, 37 gpt Ag.
Sable Resources Ltd. released
results from two more drill holes collared at its Margarita project in
Chihuahua. Highlighted core length results comprise: 20.6 m @ 83 gpt Ag, 0.08%
Zn (or 102 gpt AgEq), including 5.1 m @ 222 gpt Ag, 0.47% Zn (or 252 gpt AgEq)
in one drill hole and 48.65 m @ 102 gpt Ag, 0.43% Zn, 0.1% Pb (or 130 gpt AgEq),
including 1.0 m @ 198 gpt Ag, 0.30% Zn, 0.18% Pb (or 222 gpt AgEq) and 2.85 m @
376 gpt Ag, 0.75% Zn, 0.28% Pb (or 428 gpt AgEq) and 2.6 m @ 156 gpt Ag, 3.09%
Zn, 0.72% Pb (or 351 gpt AgEq) in the other hole. All intercepts are between 47
and 98 m from the surface.
Kootenay Silver Inc. released
results from exploration at its Mecatona property in Chihuahua. Assays of 51 surface
samples on a 200 m by 400 m zone of pervasive skarn-altered Lower Cretaceous
turbidites of the Mezcalera Group returned an average of 110 gpt Ag, 1.7% Cu,
with 12 of the 51 samples grading >100 gpt Ag. “Mineralization associated in
the new zone is oxidized to assorted limonites with most of the copper
mineralization hosted in the limonites. Depth of oxidation remains unknown.
Mineralization occurs as a range of textures that includes bedding replacement,
fracture/stockworks and disseminations, patches and hairlines. Quartz veins are
not common with one dump sample showing anomalous gold (0.84 gpt), silver (373
gpt) and 16% lead and zinc. One location of unoxidized material, from an
underground working showed chalcopyrite, bornite, arsenopyrite, pyrrhotite,
galena, sphalerite in quartz and carbonate fracture/vein/gash system. The skarn
is all fine grained marked by dense hard white to greenish beddings with local
garnets and marble noted“.
Silver Spruce Resources Inc. informed it is currently defining shallow drill
targets for a 1,500 m program at its Pino de Plata project in Chihuahua. At El
Terrero, a target comprises a zone of disseminated epithermal mineralization in
igneous rocks within 15 hectares of strong argillic to advanced argillic
alteration, where high Ag and anomalous Au, Pb, Zn, Cu results have been
obtained. At Theodora, veins with high Ag and anomalous Pb, Zn, Cu are to be
tested, whereas the Santa Elena Gossan area is a replacement Ag-Pb-Zn-Cu target.
Azucar Minerals Ltd. reported
results from one more drill hole of its ongoing program at its El Cobre project
in Veracruz. The drill hole was collared on the Norte zone, where it cut 253.5
m @ 0.72 gpt Au, 0.30% Cu (from 373.50 to 627.00 m); including 64.5 m @ 1.1 gpt
Au, 0.40% Cu; and 44.5 m @ 1.34 gpt Au, 0.47% Cu and 13.0 m @ 2.04 gpt Au,
0.70% Cu. Other deeper intervals between 638 and 732 m comprise 14.65 m @ 0.73
gpt Au, 0.28% Cu, and 53.10 m @ 1.00 gpt Au, 0.40% Cu.
Riverside Resources Inc. disclosed
initial results from its recently staked Sandy project in Sonora. Sampling of
the structures in the strongly foliated granitic intrusive rocks returned gold
values of up to 38.8 gpt Au, associated to a set of felsic dikes. “Silicification
and minor quartz veining is noted associated with the structures and with
through-going vein mineralization. The wall rock associated with these
structures often shows sericitic and silica alteration”.
Sable Resources Ltd. Released assay
results from one more drill hole from the current drilling campaign at its Margarita
project in Chihuahua. The highlighted intervals comprise 12.50 m @ 63 gpt Ag, 0.14%
Zn, 0.05% Pb (or 73 gpt AgEq), including 4.80 m @ 126 gpt Ag, 0.24% Zn, 0.10% Pb, and a
second interval of 12.80 m @ 97 gpt Ag, 1.19% Zn, 0.36% Pb (or 176 gpt AgEq),
including 1.90 m @ 213 gpt Ag, 4.52% Zn, 1.81% Pb (or 529 gpt AgEq).
Torex Gold Corp. informed of the
payment of US$11.9 M on taxes from its mining activities in 2018 (El Limon-Los Guajes,
Excellon Resources Inc. reported financial
results for the last quarter and full year 2018. During the year Excellon had $24.3
M of revenue, producing silver at cash cost $9.48 per ounce and an AISC of $20.69
per ounce. Also during the year, at its Platosa mine in Durango, 57.5 K tonnes
were mined, 81 K tonnes processed (24 K tonnes from stockpiles) @ 391 gpt Ag,
3.88% Pb, 5.42% Zn, recovering 89.2% Ag, 79.4% Pb, 80.8% Zn, to produce 917.7 K
Oz Ag, 5.45 M Lb Pb, 7.89 M Lb Zn (or 1.93 M Oz AgEq). The company also
informed on a concentrate theft scheme from 2016 to October 2018 involving
material in transit from Miguel Auza in Zacatecas to the port in Manzanillo,
Guerrero. It is estimated that said scheme impacted revenues by approximately 10%
Impact Silver Corp. entered into a concentrate sales contract with
Samsung CT Corp. for off take from the Royal mines of Zacualpan, Estado de
Mexico. “Based on current production of 400 tonnes per
day, 2019-2020 sales of silver lead-zinc concentrate should top 800,000 ounces
silver with revenues over 95% attributable to pure silver (no equivalents)”.
Sonoro Metals Corp. intends to
undertake a non-brokered private placement with the aim of raising up to $650K
(Cerro Caliche, Sonora).
First Majestic Silver Corp. informed
it has extended its share repurchase program for another 12 months. The program
proposes to repurchase up to 5 M common shares, or 2.5% of the outstanding
shares of the company (Six operating mines in Mexico).
Solaris Copper Inc. closed a C$3.9 M
non-brokered private placement financing, with no fees or commissions paid (60%
interest on La Verde, Michoacan).
ON RESOURCES AND DEVELOPMENT
Almaden Minerals Ltd. informed of the
issuing of a Report on Corporate Social Responsibility describing the community-related
activities in which the company has engaged for over 15 years at the Ixtaca
project in Puebla. Also, an environmental permit (Manifestación de Impacto
Ambiental) has been submitted to Mexican authorities, including within it
topics like water usage, tailings process details and acid drainage evaluation.
VVC Exploration Corp. disclosed and updated
resource estimate for its Samalayuca property in Chihuahua. With a 0.30% Cu cut-off,
the indicated resources comprise 3.16 M tonnes @ 0.42% Cu and the inferred
resources 4.68 M tonnes @ 0.44% Cu, containing 13,375 tonnes Cu and 20,683
tonnes Cu respectively.
Gold Resource Corp. reported that
ongoing development work at its mirador mine (in its El Aguila property in Oaxaca)
crosscut 6 m of the Independencia vein, which assayed 992 gpt Ag, with the
opposite wall assaying 5 m @ 572 gpt Ag. Earlier drilling result of this area
included 13.3 m @ 1,055 gpt Ag and 2.70 m @ 1.67 gpt Au, 901 gpt Ag.
ON DEALS AND CORPORATE ISSUES
Silver One Resource Inc. entered
into an investor relations agreement with Strata-Star Group, LLC. “Strata-Star
will provide investor relations services to Silver One including communicating
with members of the financial community as well as shareholders”.
Notimex.- El presidente Andrés Manuel López Obrador aseguró que se respetarán las concesiones mineras, no se revocarán, subrayó; sin embargo, ya no se otorgarán más.
En conferencia de prensa matutina en Palacio Nacional, dijo que los únicos requisitos son: que las empresas mineras, en particular las canadienses, lleven a cabo una explotación limpia, que se pague bien a los mineros, que se cubra la misma cantidad de impuestos que erogan allá en Canadá y, sobre todo, que no contaminen.
Dijo que las concesiones que entregaron en los últimos 36 años los gobiernos pasados fueron del orden de 40 a 50 millones de hectáreas, y el país tiene 200 millones de hectáreas, es decir, 30% del territorio nacional, y “no se lo acabarían ni en mil años”
Detalló que sólo en la administración del expresidente Felipe Calderón Hinojosa se entregaron 20 millones de hectáreas para la explotación minera a un puñado de empresas, mientras que el exmandatario Lázaro Cárdenas entregó a un millón de familias campesinas 18 millones de hectáreas para conformar ejidos entre 1934 a 1940.
TORONTO, March 21, 2019 (GLOBE NEWSWIRE) — VVC Exploration Corporation (“VVC” or the “Company”) (TSX-V:VVC) is pleased to announce that it has received an updated Resource Estimate (the “2019 Resource Estimate”) for its Samalayuca property in northern Chihuahua state, Mexico.
IMPACT Silver Corp. (“IMPACT” or the “Company”) is pleased to announce it has entered into a concentrate sales contract with Samsung C&T Corp. (“Samsung”) for off take from the Royal Mines of Zacualpan production in Mexico.
TORONTO, March 21, 2019 /CNW/ – Sable Resources (TSX.V: SAE) (the “Company” or “Sable”) is pleased to announce the drill results from drillholes M-DDH-19-22 from the company’s active Stage II 19-hole drill program targeting the Margarita Vein and including the first exploration drillholes in four other veins identified at the Margarita Project, Chihuahua State, Mexico.
VANCOUVER, B.C. Azucar Minerals Ltd. (“Azucar” or the “Company”) (TSX-V: AMZ; OTCQX: AXDDF) is pleased to announce results from its ongoing drilling program at the El Cobre porphyry copper-gold project in Veracruz State, Mexico. Drilling results reported today come from hole EC-18-063 at the Norte Zone. This hole drilled across the system above the late mineral intrusive body and was designed to test for deep high grade mineralisation on the south margin of the porphyry complex.
March 20, 2019 – Bridgewater, NS – (TSXV:SSE) — Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) is pleased to announce that it has mobilized field geologists to refine the proposed drill locations and orientations in preparation for the drill program at Pino de Plata project in western Chihuahua State, Mexico. The Company has contracted Prospeccion y Desarrollo Minero del Norte, S.A. de C.V. (ProDeMin) to complete detailed geologic mapping, sampling and reconnaissance at the project under the direction and supervision of Dr. Craig Gibson, Ph.D.
Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce recent mapping and sampling results from ongoing surface exploration at its 100% owned Mecatona Property (the “Property”), located in the Parral Silver Mining District and southeast of the Company’s flagship La Cigarra Project in Chihuahua State, Mexico.
TORONTO, March 19, 2019 /CNW/ – Sable Resources (TSX.V: SAE) (the “Company” or “Sable”) is pleased to announce the drill results from drillholes M-DDH-19-20 and M-DDH-19-21 from the company’s active Stage II 19-hole drill program targeting the Margarita Vein and including the first exploration drillholes in four other veins identified at the Margarita Project, Chihuahua State, Mexico.