TORONTO, Aug. 17, 2018 (GLOBE NEWSWIRE) — VVC Exploration Corporation (“VVC” or the “Company”) (TSX-V:VVC) today announced assay results from 6 additional diamond drill holes (DDH) from the ongoing drilling program at its Samalayuca Copper Property (the “Property”) in northern Chihuahua State, Mexico. A total of eleven DDH’s have now been completed in the Gloria Extension Zone (GEZ). The results from five of these holes (SC17-22, SC17-23, SC18-24, SC18-25 and SC18-26) have previously been reported. All eleven DDH’s which tested the zone intersected significant copper mineralization as detailed in the table below.
Minera Alamos Inc. (“Minera” or the “Company”) (TSXV: MAI) is pleased to announce the positive results of an independent Preliminary Economic Assessment (“PEA”) for its La Fortuna Project (the “Project”) in Durango, Mexico. The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) by CSA Global Geosciences Canada Ltd (CSA Global) of Toronto, Canada. (Note to reader: Unless stated all currency references are in US dollars).
August 16, 2018, Vancouver, BC – Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF – the “Company” or “Goldplay”) is pleased to announce initial results from sampling of the first of 22 historical core drill holes completed in 2010, on the Company’s San Marcial Project in Mexico. These drill holes were not incorporated in the historical NI 43-101 resource completed in 2008 (“historical resource”) and thus represent an opportunity for resource expansion. The results to date have successfully demonstrated continuity of the silver, lead, zinc and gold mineralization down dip and revealed new geological features, supporting upside opportunity for the discovery of new mineralized zones at San Marcial. The core sampling program has successfully identified a high-grade mineralized zone hosted in hydrothermal breccias close to major geological structures cross cutting a highly altered volcanic sequence
Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce high grade gold sampling results on its 100% owned Malé gold project (“Malé” or “Property”) located approximately 100 kilometers south east of the city of Hermosillo in the state of Sonora, Mexico. The Malé property was acquired through Kootenay’s generative exploration program.
By Jorge Cirett
During the 32nd week of the year (August 6th to August 12th, 2018), at least 16 press releases were announced by companies working in Mexico. Sable, Oroco, Millrock and One World Lithium updated on exploration advances. Hecla, Torex, Golden Minerals, Argonaut, Alio and Odyssey Marine Exploration released Q2 2018 reports. HarvestGold closed the final tranche of a financing round. Hecla, Alio and Consolidated Zinc reported advances on the development or exploration of their resource base. Three companies announced deals on projects, or company mergers. ON MEXICO ISSUES, The Mexican Core Shack now counts with displays from three properties in Chihuahua and two in Durango. The newly elected president of Mexico seems to have mining development as one of its 25 key projects. ON EXPLORATION, In Sonora, Millrock reported drill results from its Navidad project. In Chihuahua, Sable Resources released wide, high-grade silver intercepts from its Margarita property. In Sinaloa, Oroco received the title for a concession on the Santo Tomás district. In Baja California, One World Lithium is preparing to drill its Salar del Diablo project. ON MINING Hecla, Torex gold, Golden Minerals, Alio Gold, Argonaut and Odyssey Mineral Exploration released Q2 2018 reports. ON FINANCING, Harvest Gold closed the final tranche of its non-brokered private placement, accruing C$857 K in gross proceeds. ON RESOURCES AND DEVELOPMENT, Hecla, Alio Gold and Consolidated Zinc reported on actions and programs to affect their resource estimates or development to mining. ON DEALS AND CORPORATE ISSUES, Golden Reign and Marlin Gold reported on their merger agreement, Megastar closed a deal on three properties in Oaxaca and San Marco optioned the Chunibas project in Oaxaca to Antofagasta.
ON MEXICO ISSUES
- The Mexican Core Shack added images of drill core from Hecla’s San Sebastian project in Durango, at https://gambusinoprospector.com/mexican-core-shack/durango/san-sebastian/ . The Mexican Core Shack now displays three properties in Chihuahua and two in Durango.
- The newly elected president of Mexico, Andrés Manuel López Obrador, presented 25 priority projects for his coming tenure, one of which is mining development, on a meeting with the Colegio de Ingenieros Civiles de México (Civil Engineers Association of Mexico), the Unión Mexicana de Asociaciones de Ingenieros A.C. and the Engineering Faculty of the Universidad Autónoma de México (UNAM). Carlos Slim was among the cohort of industry leaders in the luncheon held at the Palacio de Minería (Mining Palace) in Mexico City. No details were exposed.
- Sable Resources Ltd. released results from a third drill hole on the Margarita vein of its Margarita property in Chihuahua (near Sunshine’s Los Gatos property). The most recent intercept confirms vein continuity over 500 m of longitude. The vein was intercepted 40 m from surface, returning 12.4 m @ 514 g/t AgEq (with Pb and Zn credits, no details released), including 4.10 m @ 902 g/t AgEq, which includes 1.0 m @ 1,048 g/t AgEq and 1.05 m @ 1,035 g/t AgEq. Other five holes have been finished, with similar vein textures having been intersected across similar widths down to a depth of 100 m from surface.
- Oroco Resources Corp. announced that the Papago 17 concession in Sinaloa has been granted by the government, and the company is now to register its 77.5% interest (got on a deal with a private owner) in the Mexican Public Registry of Mining. The 213 ha Papago 17 concession lies south from the Santo Tomás porphyry copper project, and contains quartz monzonite dikes and hornfelsed andesite.
- Millrock Resources Inc. reported second phase drilling results from its Navidad project in Sonora. The program focused on targets identified by soil and rock sampling, geophysical surveys and trenching, as well as the Crossover and El Cobre prospects. In total 2,969 m in 14 holes were drilled. Highlighted core length intercepts include 3.9 m @ 1.78 g/t Au; 12.5 m @ 1.14 g/t Au; 8.0 m @ 0.46 g/t Au; 6.3 m @ 0.39 g/t Au, 3.3 m @ 3.84 g/t Au; 8.7 m @ 0.43 g/t Au, 9.0 m @ 0.39 g/t Au; 5.5 m @ 0.72 g/t Au; 8.5 m @ 0.39 g/t Au; 2.6 m @ 1.73 g/t Au; 6.3 m @ 0.43 g/t Au; 7.9 m @ 2.34 g/t Au; 6.0 m @ 0.45 g/t Au; 17.4 m @ 1.61 g/t Au; 9.2 m @ 0.71 g/t Au.
- One World Lithium Inc. has accepted the Lithium Partnership’s final report summarizing pre-drilling programs for its Salar del Diablo project in Baja California. Eleven drill hole locations have been selected to test the three geophysical anomalies and two geochemical targets. One World intends to commence drilling on the latter part of October 2018.
- Hecla Mining Co. reported second quarter 2018 results, including figures from its San Sebastian project in Durango, where 559,647 Oz Ag, 3,872 Oz Au were produced during the period. The mill operated at an average of 415 tpd (tons per day). Cash cost was $9.79 per Ag Oz and AISC $17.15 per Ag Oz, reflecting the higher cost of transitioning from open pit to underground mining. “A reduction in per ounce costs is expected in the second half of the year as underground production continues to ramp up”.
- Torex Gold Inc. reported its financial results for the second quarter 2018. Mine production at Limon-Guajes totaled 7.15 Mt (tonnes), averaging 78,629 tpd (tonnes per day) of which 1.28 Mt was ore processed at 11,140 tpd. Mined ore averaged 2.45 g/t Au and processed ore 2.86 g/t Au, for the production of 78,796 Oz Au, with 87% Au recovery in the period and cash cost of $680 per Oz Au and AISC of $1,017 per Oz Au. Cash held at the end of the period was $117.9 M.
- Golden Minerals Co. announced financial results for the second quarter 2018. During the quarter Golden reported final drill results from the Santa Maria project (Chihuahua) 2017-2018 drill program and announced the preparation of an updated technical report and preliminary economic assessment (PEA). In August 2018, Golden entered into a non-binding letter of intent with The Electrum Group LLC upon which Electrum is to purchase Golden’s remaining interest in the Celaya property in Guanajuato for a payment of $3 M. Cash and cash equivalents stood at $2.5 M at the end of the period.
- Argonaut Gold Inc. released financial results for the second quarter 2018. During the period the company produced 38,441 GEOs (Gold equivalent ounces) at cash cost $704 per Oz Au and AISC of $832 per Oz Au. At El Castillo, in Durango, 2.22 Mt (tonnes) of waste, and 2.15 Mt (tonnes) were moved, with 2.12 Mt ore @ 0.37 g/t Au crushed to the pads to produce 10,079 Oz Au, 8,111 Oz Ag at cash cost $992 per Au Oz. At San Agustin in Durango, 618 Kt of waste, 1.85 Mt of ore were moved, with 1.88 Mt of ore @ 0.36 g/t Au crushed to the pads to produce 15,528 Oz Au, 55,781 Oz Ag. At La Colorada, in Sonora, 1.81 Mt of waste, 1.06 Mt of ore were moved (32 K tpd), with 1.14 Mt of ore @ 0.36 g/t Au crushed to leach pads to produce 11,503 Oz Au, 29,360 Oz Ag at cash cost $833. “The Company expects the third quarter 2018 will see lower production due to the lower grades stacked on the leach pad during the second quarter 2018 and also expects higher costs during the third quarter 2018 associated with drilling, blasting and hauling costs for normal state operations”.” While the Company’s explosives permit has been reinstated at La Colorada, the legal action brought against the Secretary of National Defense and the Municipality of La Colorada continues through the Judiciary court process”.
- Alio Gold Inc. reported second quarter 2018 results. The San Francisco mine in Sonora produced 14,466 Oz Au, 7,661 Oz Ag at by-product cash cost $950 per Oz Au, while AISC was $1,172 per Oz Au. The Company is reducing stripping and focuses mining on more profitable ounces to maintain cash neutral operations. As a result of the reduced stripping, the ”production guidance of 90,000 to 100,000 ounces of gold for 2018 will not be met.” At Ana Paula in Guerrero, all development work including the construction of the underground decline, the completion of the feasibility study and further exploration have been temporarily suspended as result of the recent decline in the gold price.
- Odyssey Marine Exploration Inc. reported second quarter 2018 results. “Odyssey holds a controlling interest in Oceanica Resources, S. de R.L., and ExO, a subsidiary of Oceanica. ExO controls exclusive 50-year mining permits in an area in Mexican waters that contains a large amount of phosphate mineralized material”.” On March 21, 2018, the 11-judge panel of the Superior Court of the Federal Court of Administrative Justice in Mexico ruled unanimously in favor of ExO, nullifying the original denial of the environmental permit application.“ (Don Diego, Pacific Ocean cost of Baja California Sur)
- Harvest Gold Corp. closed a fourth and final tranche of its non-brokered private placement to raise CDN$200 K for a total of CDN$857 K gross proceeds. “The Company paid finder’s fees of 8% cash and 8% warrants to Canaccord Genuity Corp. on certain funds”. Harvest delivered $700 K to Evrim Resources Corp. to fund the Cerro Cascaron project (in Chihuahua) drill program of up to 3,000 m, beginning the third week of September.
ON RESOURCES AND DEVELOPMENT
- Hecla Mining Co. reported on brownfield exploration on its mining units, including on the San Sebastian project in Durango, where it continues to expand high-grade polymetallic zones on the Middle and Francine veins. Additional oxide mineralization is being defined along the Professor and East Francine veins. On the Francine vein mineralization has been traced for over 360 m on surface, and over 240 at depth, but once incorporated the newly defined East Francine vein the total strike length of continuous mineralization along the Francine Vein exceeds 2,400 m and can be traced to a depth of over 600 m. Proven and probable reserves stand at 398 K tons @ 3.42 g/t Au, 432 g/t Ag, containing 43,000 Oz Au, 5.52 M Oz Ag and Measured and Indicated resources of 1.5 M tons @ 2.25 g/t Au, 186 g/t Ag, 2.9% Pb, 3.8% Zn, 1.7% Cu, containing 103,000 Oz Au, 8.8 M Oz Ag, 15,520 tons Pb, 20,350 tons Zn, 9,020 tons Cu.
- Alio Gold Inc. informed on the update of mineral reserve estimates at its San Francisco mine in Sonora. “Mining depletion of Mineral Reserves was partly offset by expansion of the reserves in Phases 6 through 9 of the San Francisco Pit. Total proven and probable mineral reserves totaled 854,472 ounces of gold (55.5 million tonnes at 0.49 g/t) as of July 1, 2018, an approximate decrease of 74,228 ounces of gold or 8% from April 1, 2017.”
- Consolidated Zinc Ltd. informed on its plan to start pilot plant production at its Plomosas project in Chihuahua. The mining scoping studies focus on sulfide mineralization of the updated resource, starting with a 20,400 tonnes indicated resource @ 13.8% Zn, 2.4% Pb. The capital cost is expected to be low, including plant refurbishment and tailings dam upgrade.
ON DEALS AND CORPORATE ISSUES
- Golden Reign Resources Ltd. and Marlin Gold Mining Ltd. Entered into a definitive agreement to combine businesses and amend stream agreement with Sailfish Royalty Corp. Golden Reign will acquire all of the issued and outstanding shares of Marlin and satisfaction of all closing conditions of the business combination by way of plan of arrangement. As a condition to closing the Transaction, Sailfish has agreed to restructure its existing gold stream on San Albino (La Trinidad, Sinaloa).
- Megastar Development Corp. closed the transaction to acquire 100% interest on the Rama de Oro, Magdalena and Yautepec projects in Oaxaca. Megastar paid USD$45 K and issued 1.5 M common shares to Minera Zalamera S.A. de C.V., as contemplated in the option agreement. “Furthermore, Mr. David M. Jones, president of Minera Zalamera, has been appointed to the board of directors of Megastar.”
- San Marco Resources Inc. signed an earn-in agreement with Antofagasta plc on the Chunibas project, located in Sonora. Antofagasta can acquire a 70% interest in the project by spending US$8 M in exploration, and making cash payments on the aggregate of US$200 K over a period of 4 years. A firm commitment of US$700 K will be used primarily for an initial drill program, including $100 K of reimbursement to San Marco of recent exploration expenditures. “The Project consists of stratiform, volcanic hosted coppersilver mineralization, similar to several ore deposits in northern Chile and is a style of mineralisation not previously discovered in Mexico.”
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, open cut in one of the structures of the Pozos District, Guanajuato. Picture by Jorge Cirett.
Toronto, Ontario – (August 9, 2018) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce its financial and operating results for the second quarter ended June 30, 2018. The Company reports a quarterly cash flow from operating activities before changes in operating working capital of $17.0 million, net income of $0.4 million or earnings per share of $0.00, adjusted net income of $7.0 million or adjusted earnings per share1 of $0.04, net cash1 increase of $1.5 million and production of 38,441 gold equivalent ounces (“GEO” or “GEOs”). All dollar amounts are expressed in United States dollars, unless otherwise specified (C$ refers to Canadian dollars).
TORONTO, Ontario, August 9, 2018 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) reported today the Company’s financial results for the three and six months ended June 30, 2018.
Fred Stanford, President & CEO of Torex stated: “Having successfully emerged from the blockade, we are pleased to announce solid second quarter results, from near-record level gold production. These operational results reflect the impressive success our team has had in dealing with the uncertainty of a restart and ramp up.
VANCOUVER, BRITISH COLUMBIA, August 9, 2018 – Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) (“Millrock”) is pleased to report that the second phase of core drilling on the La Navidad gold project has been completed. The program was designed to test geological targets identified through soil and rock sampling, geophysical surveys and trenching. The drill holes targeted the Crossover and Cobre prospects. The Navidad project, located in Sonora State, Mexico, 100 km north of the City of Hermosillo, targets orogenic gold deposits and is being funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”). In total, 2,969 meters in 14 holes were drilled. Additionally, Hole NV-010 initially drilled in the first drilling campaign was deepened. The table following on the next page indicates significant and anomalous drill intersections for gold in grams per metric tonne (“g/t”).
Marble breccia cemented by FeOx
By Miguel A Heredia
During the 31st week of the year (July 30th to August 05th, 2018), at least 20 press releases were announced by companies working in Mexico, with six informing on exploration results, five announcing production results, five communicating deals and corporate issues, two reporting on resources and developments, and two announcing financing issues. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Chihuahua, Silver Spruce received approval to drill its Pino de Plata project, Radius Gold-Pan American Silver announced a JV agreement to explore and drill the Amalia project, and VVC reported drilling results from its Samalayuca property. In Sinaloa, Goldplay reported drilling results from its El Habal project. In Durango, First Mining signed an agreement to option its Las Margaritas gold project to Gainey. ON MINING, Several companies reported Q2, 2018 results on its Mexican operations. In Sonora, Alamos Gold announced Q2, 2018 results from their Mulatos and Chanate mines. In Sinaloa, McEwen provided Q2, 2018 results from its El Gallo mine. In Durango, Excellon announced Q2, 2018 results from its La Platosa mine. Great Panther reported Q2, 2018 results from their mining operations in Mexico and Peru. In Guerrero, Telson presented Q2, 2018 results from its Campo Morado mine. ON FINANCING, VVC announced a non-brokered private placement for $CA 1.5M. Colibri Resource negotiated an agreement to provide debt financing in an amount up to CAD $400K. ON RESOURCES AND DEVELOPMENT, Premier Gold provided an exploration update on its Mercedes mine in Sonora. Sierra Metals filed a NI 43-101 technical report for its Cusi mine in Chihuahua. ON DEALS AND CORPORATE ISSUES, Goldplay secured eligibility for its shares and appointed its VP Corporate Development and Exploration. SilverCrest announced the resignation of one of its Directors. Equinox Gold announced court approval of the arrangement for the Solaris Copper spinout. VVC announced that its Annual General meeting for shareholders will be held on August 21. Radius Gold and Pan American silver entered in an agreement to explore the Amalia project in Chihuahua.
ON MEXICO ISSUES
- No relevant news.
- Silver Spruce Resources Inc., received approval for drilling its Pino de Plata project in Chihuahua. The company plans to perform a first phase of 1,500m of diamond drilling to test high grade targets identified with surface sampling, with a follow-up phase 2 where results warrant. The first drill target is El Terrero, an area of 2 square km area showing disseminated epithermal mineralization in intrusive rocks, where surface sampling returned up to 557 g/t Ag along with anomalous Au, Cu, Pb and Zn values. Six holes are planned with targeted depths to 100m. A second target is the Teodora Vein, where surface sampling reported up to 553 g/t Ag with anomalous values of Au, Cu, Pb and Zn. Three holes are proposed with planned depths to 100m. The third target is the Santa Elena Gossan, an area of 20 square km where surface rock sampling on carbonate replacement mineralization in limestone/marble and sandstone/hornfels assayed up to 349 g/t Ag with anomalous base metal values. Three to five holes are proposed in this target area with planned depths to 100m.
- Radius Gold Inc., and Pan American Silver Corp., entered in a JV agreement to explore the Amalia project in Chihuahua. This option agreement is to explore a corridor of 3.5km of strike length and 600m of vertical interval, where 3 high grade targets showing epithermal Ag-Au mineralization in veins, vein breccias, and disseminated have been identified following the trace of a large regional fault zone. The Campamento target is a 500m by 70m zone of intense silicification and brecciation with massive and stockwork veining. A chip channel sampling returned 62m of 0.43 g/t Au and 98 g/t Ag. High grade has been also identified in this target with the most significant result returning 4.5m of 10.3 g/t Au and 202 g/t Ag. Radius and Pan American plan to drill test 100m to 250m below surface. The Guadalupe target is a high grade andesite structurally controlled breccia zone located 450m south along strike from the Campamento target and 250m lower in the geological section. A continuous chip sampling on the Guadalupe target returned 7m of 3.62 g/t Au and 1,048 g/t Ag, and 4m of 3.92 g/t Au and 888 g/t Ag. The Dulces target is a vein located 800m NE of Campamento target at the same elevation and occurs within an extensive argillic-altered andesite and related gold in soil anomaly. Sampling has returned 1m of 34 g/t Au and 13 g/t Ag, and 1.5m of 114.5 g/t Au and 57 g/t Ag.
- VVC Exploration Corporation, reported drill results from its Samalayuca project in Chihuahua. The phase 3 was planned to drill 3,000m and begun in May 2018 with 8 holes completed to date. Results of the three first holes were 30m of 0.34% Cu and 6 g/t Ag, including 14m of 0.54% Cu and 10 g/t Ag; 7m of 0.39% Cu and 7 g/t Ag; and 25m of 0.43% Cu and 7 g/t Ag. These results extend the copper mineralization at La Gloria zone previously drilled in 2017.
- Goldplay Explorations Ltd., announced initial results of four drill holes from its El Habal project in Sinaloa. The most significant results are 77.5m of 0.43 g/t Au, including 9.45m of 2.05 g/t Au, and 15.4m of 1.35 g/t Au. The mineralization intersected consisted of a series of mineralized breccias, structures/zone faults present in a 6km long mineralized corridor which represent a high-level gold system hosted by a volcanic sequence with intrusives and related hydrothermal fluids.
- First Mining Gold Corp., and Gainey Capital Corp., signed an option agreement in which Gainey can acquires 100% of the Las Margaritas Gold project in Durango. Under the terms of the four year option agreement, Gainey can elect to make either annual share or cash payments to First Mining in the following amounts:
- Upon completion, Gainey will obtain 100% ownership of the Las Margaritas project and First Mining will retain a 2% net smelter returns (“NSR”) royalty, with Gainey having the right to buy back 1% of the NSR royalty for USD$1,000,000 up until the first anniversary of the commencement of commercial production at the project.
- Alamos Gold Inc., presented Q2 2018 results from their Mulatos and El Chanate mines in Sonora. At Mulatos, the company produced 50.6K Oz Au at an all-in sustaining cost (AISC) per ounce of gold sold of $854. At El Chanate, Alamos produced 10.1K Oz Au at an AISC per ounce of gold sold of $1,442.
- McEwen Mining Inc., reported Q2 2018 results from its El Gallo Fenix mine in Sinaloa. The compnay produced 10.8K GEOs (Silver and gold production are presented as GEOs). Total cash costs and AISC per GEO were $783 and $816 respectively.
- Excellon Resources Inc., announced Q2 2018 results from its La Platosa mine in Durango. In Q2, 2018, the company milled 16.1K tonnes of 507 g/t Ag, 5.7% Pb, and 8.4% Zn to produce 277.7K Oz Ag, 1.8M Lb Pb, and 2.8M Lb Zn. Metallurgical recoveries for Ag, Pb, and Zn were 89.6%, 80.2%, and 82.2% respectively.
- Great Panther Silver Limited, reported results from their mining operations in Mexico and Peru for the Q2, 2018 period. The company did not release detail information from its Mexican operations (Topia mine in Durango and Guanajuato Mine Complex in Guanajuato).
- Telson Mining Corporation, presented Q2, 2018 results from its Campo Morado mine in Guerrero. The company processed 162.5K tonnes to produce 19.3M Lb Zn, and 1.3M Lb Pb, with metallurgical recoveries of 73.3% and 31.2% respectively.
- VVC Exploration Corporation, announced a non-brokered private placement for $CA 1.5M. VVC has raised to date $CA 1.15M and expects to complete the rest $CA 350K in August.
- Colibri Resource Corporation, negotiated an agreement with two shareholders to provide debt financing in an amount of up to CAD$400K.
ON RESOURCES AND DEVELOPMENT
- Premier Gold Mines Limited, provided an exploration update on its Mercedes mine in Sonora. The company announced the extension of a high grade vein system on its El Rey de Oro deposit. Significant underground drilling results are 16.55m of 6.21 g/t Au and 102 g/t Ag, 21.95m of 36.65 g/t Au and 171 g/t Ag, 20.5m of 8.1 g/t Au and 121 g/t Ag, and 9.2m of 8.33 g/t Au and 67.7 g/t Ag. Additionally, the company is conducting an underground drilling program to define the high grade Aida target located to the west of the main Mercedes vein where previous drilling has intersected a broad zone of low-grade mineralization with assays of up to 0.64 g/t Au and 0.79 g/t Ag across 31.5 metres. Premier also has the plan to drill test the Marianas vein once the drift has been established in H2 2018, and will go on with the definition and step-out drilling at Diluvio and Lupita areas that were recently brought into production.
- Sierra Metals Inc., filed a NI 43-101 technical report for its Cusi mine in Chihuahua. The company released results of the PEA study. Results from the PEA include an after-tax net present value (NPV) of US$92.2 Million at an 8% discount rate, an after-tax internal rate of return (IRR) of 75%, a plant processing rate of currently 650 tonnes per day (TPD) growing to 1,200 TPD by Q1 2019 and 2,700 TPD by mid-2021, and a mine life of 9 years based on existing Mineral Resource Estimate.
ON DEALS AND CORPORATE ISSUES
- Goldplay Exploration Ltd., appointed its VP Corporate Development and Exploration and secured eligibility by the Depositary Trusts Company for its shares on the OTC marketplace where the company trades under the symbol “GLYXF” (El Habal, Sinaloa).
- SilverCrest Metals Inc., announced the resignation of one of its Directors. (Las Chispas, Sonora).
- Equinox Gold Corp., announced final court approval of the arrangement for the Solaris Copper spinout (La Verde, Michoacan).
- VVC Exploration Corporation, announced that its Annual General meeting of shareholders will be held on August 21 (Samalayuca, Chihuahua).
- Radius Gold Inc., and Pan American Silver Corp., entered in a JV agreement to explore the Amalia project in Chihuahua. Pan American can earn an initial 65% of the property by making cash payments to Radius totaling $US 1.5M (of which $US 100K has been already paid), and expending $US 2M on exploration over four years, and can acquires an additional 10% by advancing the property to a FS.
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 above, a marble breccia cemented by FeOx in an Iron Mine in Coahuila, Mexico. Photo by Miguel A Heredia.