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

By Miguel A Heredia

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

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

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

ON MINING

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

ON FINANCING

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

ON RESOURCES AND DEVELOPMENT

  • No relevant news.

ON DEALS AND CORPORATE ISSUES

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

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

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

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

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.

ON EXPLORATION

  • 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.

ON MINING

  • 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.

ON FINANCING

  • 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.

Evrim Resources samples 9.4 metres grading 7.4 g/t gold in first trenching results from 100%-owned Cuale gold project

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Vancouver B.C. – January 18, 2018 Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is pleased to announce the first trenching results from its 100%-owned Cuale high sulphidation epithermal gold project in Jalisco, Mexico.  This preliminary exploration program was undertaken in December 2017 to define the extent of the La Gloria high sulphidation prospect and comprised three trenches over a distance of 300 metres within a core zone where previous rock chip sampling had defined gold mineralization.