The Mining and Exploration News in Mexico: Highlights on the Second Week of October, 2021

By Jorge Cirett

During the 41st week of the year (October 11th to October 17th, 2021), at least 25 press releases were announced by companies working in Mexico. To note, six companies posted exploration advances on their properties, six released Q3 reports and one on commencement of mining, two on financing and eight more on project development or resource definition and one more on mining concessions acquisitions. ON MEXICO ISSUES, Mexico’s president presented a proposal to change the law in the energy industry, but also restricting lithium exploration and production to the government. Several other elements could be included in the bill, referred to as “strategic minerals”, without elaborating, although a government party senator named cobalt, niquel, rare earths and even copper. ON EXPLORATION, In Sonora, Benjamin Hill Mining released results from geophysical processing and from fluid inclusion studies that support a buried intrusive source for the mineralization at the Benjamin Hill property; Canuc Resources updated on its deep drilling program at San Javier; Colibri Resources received the permit to drill Evelyn. In Chihuahua, Kootenay silver increased land holdings at its Columba project. In Sinaloa, Vizsla Silver presented drilling results from the Tajitos zone at its Panuco project.   ON MINING, Guanajuato Silver commenced mining at El Cubo, in Guanajuato. First Majestic Silver, Golden Minerals, Gold Resource, Magna Gold, Aura Minerals and Avino Silver & Gold Mines presented its Q3 2021 reports. ON FINANCING, Candelaria Mining informed one of its lenders, Accendo Banco, had its operating permit revoked by Mexican authorities. Xali Gold announced Sun River Gold arranged a financing for US$6.5 M for the tailings project at El Oro, Estado de Mexico. ON RESOURCES AND DEVELOPMENT, GR Silver Mining filed a NI-43-101 technical report on the Plomosas project, Sinaloa. Orla Mining provided an update on the construction of the Camino Rojo Oxide project. Prime Mining released further drilling results from Los Reyes, Sinaloa. Fabled Silver Gold released underground drilling results for Santa Maria, in Chihuahua. GoGold Resources reported results from drilling at El Favor, on its Los Ricos North project located in Jalisco. Golden Tag resources is adding 4,500 m to its 2021 drilling program at San Diego, Durango. Capitan Mining reported results from drilling at El Capitan, in Durango. Zacatecas Silver is drilling the Panuco and Las Cruces areas, at its Zacatecas project, results pending.   ON DEALS AND CORPORATE ISSUES, Argonaut Gold acquired from Fresnillo PLC 4,791 ha in key concessions surrounding its San Agustin mine in Durango. ON SOCIAL RESPONSIBILITY, Minera Media Luna, Peñols, Newmont Peñasquito and Pan American Silver informed on community programs in education and health.

ON MEXICO ISSUES

  • Mexico is far from being a powerhouse in lithium production according to the Statistical Review of World Energy 2021 by BP. Australia, Chile and China hold 81.2% of reserves and 86.5% of lithium production, whereas Argentina, Brazil, Portugal, the United States and Zimbabwe account for 20.5% of reserves and 12.8% of the production. Camimex (Cámara Minera de México) points that the constitutional reform presented by the Mexican president lacks technical support, as even if there are several lithium projects in Mexico, none has proven economic viability. The most visible of these projects, in Sonora, is said to be the largest lithium prospect in the Globe, but its economic viability has still to be proven, as to date there is not a single mine of lithium in clays in the World.
  • Mexico will not grant lithium concessions, said the Mexican president. He stated that even if his electricity reform is not approved by congress, his government has the power to reject any request for a concession to mine lithium. “We will deny any request for a concession to mine lithium and we have the power to do so. We want this to be established in the constitution, lithium belongs to the state”.
  • Nationalistic views with control on “strategic minerals” have been voiced by Morena, the party in power in Mexico. Besides the explicit aim by the President to save all lithium extracting and processing activities for the government, his recent proposal also refers, without elaborating, to be applied in other “strategic minerals”. A senator form Morena mentioned these other minerals could include cobalt, nickel, rare earths and copper, although a spokeswoman from the Economy Secretariat mentioned that the list of strategic minerals was to be provided by the Mexican Geological Survey at a later date.

ON EXPLORATION

  • Canuc Resources Corp. updated on the exploration program at its San Javier project in Sonora. Three holes have been completed and a fourth one is in progress, currently at 922 m of depth and ongoing. Chalcopyrite has been encountered from 302 m and is still visible at 922 m of depth. “The drill hole has intersected a broad zone of variably stockworked and brecciated Barranca sediments with minor andesitic dykes. The Barranca sediments show contact metamorphism from about 461 m and downward, variable amounts of magnetite bearing veinlets, stringers and breccia matrix throughout”. The first two holes intercepted Barranca Formation sedimentary rocks with magnetite veinlets and best intercepts of 2.35 m @ 126 gpt Ag and 2.0 m @ 243 gpt Ag. The third hole was drilled on the Tarahumara Formation volcanic rocks for 500.5 m before being terminated due to drilling problems, intercepting several volcanic lithologies, chalcocite from 38 m of depth and sulfides including chalcopyrite from 332 m. Scattered gold and copper values on short intervals were intercepted, of up to 1.19 gpt Au and 0.41% Cu. Results for the current hole are still pending.
  • Colibri Resource Corp. received the needed permit to drill up to 56 holes at the Evelyn project in Sonora. “The fully funded drill program of up to 10,000 metres is expected to be conducted in two phases”.
  • Kootenay Silver Inc. increased its land holdings at its Columba project in Chihuahua. The company applied for a 10,825 hectare concession, supporting the decision to do so on the high-grade silver intercepts on drilling of the property.
  • Vizsla Silver Corp. presented the results from 23 new drill holes from the Tajitos vein at its Panuco project in Sinaloa. Highlighted true width intercepts comprise 1.38 m @ 1.16 gpt Au, 79 gpt Ag; 1.34 m @ 7.94 gpt Au, 960 gpt Ag; 0.70 m @ 4.16 gpt Au, 2,082 gpt Ag; 2.15 m @ 1.09 gpt Au, 188 gpt Ag; 1.38 m @ 2.83 gpt Au, 527 gpt Ag; 8.7 m @ 0.51 gpt Au, 99 gpt Ag; 1.99 m @ 2.46 gpt Au, 615 gpt Ag; 0.86 m @ 3.37 gpt Au, 315 gpt Ag; 1.39 m @ 3.26 gpt Au, 73 gpt Ag; 1.3 m @ 2.47 gpt Au, 600 gpt Ag; 1.50 m @ 9.90 gpt Au, 2,607 gpt Ag; 0.7 m @ 5.73 gpt Au, 1,115 gpt Ag; 4.38 m @ 1.62 gpt Au, 216 gpt Ag. The footprint of the Tajitos zone has been recognized for 800 m along strike and 300 m of depth.
  • Benjamin Hill Mining Corp. informed the seven kilometer long trend of epithermal mineralization at its Benjamin Hill project in Sonora is related to a well-defined magnetic anomaly. A magnetic high more than 12 kilometers long and 4 km wide lies beneath the surface, crossing the property in a N-NE orientation, with the Au-Cu mineralization parallel to the crest of the magnetic high.  “Our hypothesis explains that the magnetic anomaly corresponds to a partially exhumed fertile pluton. We suggest the mineralization seen at surface was driven by the heat engine of a buried pluton providing hydrothermal fluids that formed mineralized tabular bodies enriched with Au, Ag, and Cu (i.e. veins and breccias), as well as fluids that caused hydrothermal alteration halos (phyllic, epidote-magnetite and argillic alteration)…”.
  • Mammoth Resources Corp. updated on drilling at its Tenoriba project in Chihuahua. The company informed heavy rainfall during August and September is subduing by now, and that they expect an increase in the drilling rate that produced only 420 m of core in 8 weeks. “Mammoth intends to initially drill 2 – 4 holes within each target zone then move to another target zone to drill a similar number of holes”. Results on the first holes are pending.
  • Benjamin Hill Mining Corp. informed on results of fluid inclusion studies at its Benjamin Hill property in Sonora. The salinity and homogenization temperatures point to an epithermal system with an overprinting magmatic influence, and exhumation depths  between 150 m and 750 m in the mineralized structures. “This observation combined with recent geophysical data, supports the hypothesis of the existence of a mineralized plutonic source with a high possibility for Au-Cu metallic enrichment and porphyry potential”.

ON MINING

  • Guanajuato Silver Company Ltd. commenced to process silver-gold ore at its El Cubo mine and mill in Guanajuato. Prior to the start of mill operations, 20 K tonnes of material from El Cubo were mined and stockpiled, to be processed at 750 tonnes per day (tpd) in the plant with a capacity for 1,500 tpd, or over 500 K tonnes per year.
  • First Majestic Silver Corp. presented production results for the third quarte 2021, including figures from its three Mexican operations. At San Dimas, Durango, 214.2 K tonnes were processed at a rate of 2,328 tpd and a grade of 289 gpt Ag, 3.14 gpt Au, recovering 95% Ag, 96% Au to produce 20,767 Oz Au, 1.89 M Oz Ag. At Santa Elena in Sonora 234.9 K tonnes were processed grading 74 gpt Ag, 1.04 gpt Au, recovering 91% Ag, 96% Au to produce 508.6 K Oz Ag, 7,498 Oz Au. At La Encantada in Coahuila, 263.6 K tonnes were processed grading 134 gpt Ag, 0.02 gpt Au, recovering 80% Ag, 90% Au to produce 905 K Oz Ag, 114 Oz Au.
  • Golden Minerals Co. reported third quarter 2021 production from its Rodeo mine in Durango. The mill processed an average of 532 tpd at a grade of 4.0 gpt Au, recovering 76.5% Au to produce 4,777 Oz Au, 12,196 Oz Ag. Golden’s guidance for 2021 continues between 12 K – 14 K Oz Au and 25 K – 30 K Oz Ag.
  • Gold Resource Corp. presented preliminary third quarter 2021 production results. At its Arista mine in Oaxaca 98 K tonnes were milled at a rate of 1,353 tpd, grading 2.68 gpt Au, 91 gpt Ag, 0.37% Cu, 2.3% Pb, 4.8% Zn, to produce 6,933 Oz Au, 265.8 K Oz Ag, 1,808 tonnes Pb, 3,920 tonnes Zn. The cash cost per AuEq Oz was between $250-$290 and the AISC per AuEq Oz between $250-$290.
  • Magna Gold Corp. reported Q3 2021 production results. At San Francisco, in Sonora, 1.72 M tonnes were mined @ 0.46 gpt Au, and 4.52 M tonnes of waste moved (2.62 strip ratio), 1.76 M tonnes were processed @ 0.45 gpt Au, with 25,663 Oz Au placed in the pads to produce 19,102 Oz Au, 7,115 Oz Ag. The guidance for the year remains at 55-65 K Oz Au.
  • Aura Minerals Inc. announced preliminary production results for the third quarter of 2021, including figures from its Mexican operations. At Aranzazu, in Zacatecas, Aura produced 6,404 Oz Au, 106.1 K Oz Ag, 8.15 M Lb Cu, or 26,745 Oz AuEq.
  • Avino Silver & Gold Mines Ltd. released its production report for the third quarter 2021. The Avino mine in Durango successfully recommenced operations at a 1,000 to 1,500 tpd rate (with a 2,500 tpd plant capacity) with 58.2 K tonnes produced, 61,8 K tonnes processed (with aid of some stock piled material) grading 48 gpt Ag, 0.83 gpt Au, 0.58% Cu, recovering 86% Ag, 75% Au, 85% Cu to produce 77.9 K Oz Ag, 1,183 Oz Au, 685.5 K tonnes Cu.

ON FINANCING

  • Candelaria mining Corp. informed one of its lenders, Accendo Banco S.A. had its authorization to operate as a banking institution revoked by the Mexican National Banking and Securities Commission. “The Company has a US$9.0 million loan facility in place with Accendo and to date has drawn US$1.5 million under the loan facility. The Company anticipates that its ability to draw any further funds from its loan facility with Accendo may be impaired by these developments.” (Pinos, Zacatecas).
  • Xali Gold Corp. announced that Sun River Gold has arranged a financing of US$6.5 M to build an put in operation the tailings reprocessing operation at El Oro, Estado de México. “Sun River has the option to acquire 100% of the Tailings Project from Minera CCM by making staged payments totalling US$500,000 (paid), bring the tailings into commercial production by October 31, 2021 (extended to March 31, 2022 due to COVID), and grant to the Company a 5% NPI, Life of Mine royalty (the “Candente Royalty”) as well as the Municipality’s 8% NPI on production from the properties” (El dorado, Nayarit).

ON RESOURCES AND DEVELOPMENT

  • GR Silver Mining Ltd. filed a technical report on the Plomosas project, in Sinaloa. The report envisages 3.4 M Oz Ag, 53 K Oz Au, 73 M Lb Zn, 48 M Lb Pb (10.3 M Oz AgEq) in indicated resources and 8.6 M Oz Ag, 85 K Oz Au, 149 M Lb Zn, 116 M Lb Pb (21.0 M Oz AgEq) in inferred resources. The report includes information from over 100,000 meters of drilling in 476 historic and 80 new drill holes. A 14,000 meters drilling program with seven rigs is in progress.
  • Orla Mining Ltd. provided a construction update for the Camino Rojo Oxide project in Zacatecas. To date Camino Rojo is 89% complete with the ramp up of mining operations according to plan, and the crushing and conveying system, reclaim tunnel, overland conveyor and grasshopper conveyors completed. The Merrill-Crowe plant and refinery are 98% complete. In the year 757.1 K tonnes have been mined at a grade of 0.86 gpt Au, of which 511.2 K tonnes have been crushed and 220.2 K tonnes stacked.
  • Prime Mining Corp. informed on further drilling results from its Los Reyes project in Sinaloa. Highlighted true width (TW) intercepts comprise 11.8 m @ 6.12 gpt Au, 62 gpt Ag, (including 5.5 m @ 12.02 gpt Au, 61 gpt Ag); 13.1 m @ 3.36 gpt Au, 83 gpt Ag; 13.2 m @ 2.18 gpt Au, 31 gpt Ag; 8.4 m @ 2.85 gpt Au, 31 gpt Ag; 1.4 m @ 3.89 gpt Au, 13 gpt Ag in the Zapote South step out holes, and 3.8 m @ 14.51 gpt Au, 82 gpt Ag; 2.2 m @ 3.96 gpt Au, 9 gpt Ag; 2.1 m @ 5.55 gpt Au, 164 gpt Ag; 2.90 m @ 2.07 gpt Au, 248 gpt Ag; 3.9 m @ 1.90 gpt Au, 78 gpt Ag; 0.9 m @ 3.86 gpt Au, 448 gpt Ag; 4.0 m @ 1.55 gpt Au, 230 gpt Ag in the Tahonitas step out drilling. The boiling level at Zapote, with its corresponding higher grades, has been identified 50 m below previous reports, expanding the exploration targets.
  • Fabled Silver Gold Corp. released further assay results from its Santa Maria property in Chihuahua. The underground drilling was successful in intersecting a geochemically anomalous intrusive rock with a 54.6 m interval grading 0.02 gpt Au, 9 gpt Ag (including three intervals 1.5, 1.5 and 1.2 m in width grading 20, 21 and 23 gpt Ag respectively) and another hole returning 4.5 m @ 13 gpt Ag.
  • GoGold Resources Inc. reported results of 10 new holes from El Favor east zone, extending the mineralized strike by over 450 meters at its Los Ricos North project in Jalisco. Some of the core-length intervals intercepted comprise 27.0 m @ 0.44 gpt Au, 64 gpt Ag; 3.0 m @ 0.51 gpt Au, 86 gpt Ag; 22.3 m @ 0.31 gpt Au, 118 gpt Ag (including 1.0 m @ 3.96 gpt Au, 944 gpt Ag); 7.7 m @ 0.46 gpt Au, 147 gpt Ag; 24.2 m @ 0.45 gpt Au, 105 gpt Ag (including 2.0 m @ 4.16 gpt Au, 794 gpt Ag); 6.1 m @ 1.32 gpt Au, 328 gpt Ag; 2.1 m @ 0.63 gpt Au, 179 gpt Ag; 11.4 m @ 0.26 gpt Au, 136 gpt Ag (including 6.0 m @ 0.38 gpt Au, 179 gpt Ag); 20.1 m @ 0.22 gpt Au, 68 gpt Ag (including 1.0 m @ 2.59 gpt Au, 563 gpt Ag); 18.3 m @ 0.30 gpt Au, 98 gpt Ag (including 5.6 m @ 0.90 gpt Au, 255 gpt Ag). El Favor East mineralization is now known for 900 m, of which 600 m have been drilled.
  • Golden Tag Resources Ltd. announced the addition of 4,500 meters of diamond drilling to its exploration program for 2021 at its San Diego project in Durango. That meterage is in addition to the 4,716 meters already sunk and reported in 2021.   The program discovered epithermal mineralization near the surface, the following are some selected core-length intervals: 273.65 m @ 0.10 gpt Au, 43 gpt Ag, 0.2% Pb, 0.3% Zn (76 gpt AgEq); 50.17 m @ 0.05 gpt Au, 31 gpt Ag, 0.9% Pb, 0.7% Zn; 99.53 m @ 0.09 gpt Au, 27 gpt Ag, 0.7% Pb, 0.6% Zn; 25.55 m @ 0.08 gpt Au, 37 gpt Ag, 0.3% Pb, 0.6% Zn; 86.64 m @ 0.03 gpt Au, 39 gpt Ag, 0.9% Pb, 0.6% Zn; 169.83 m @ 0.04 gpt Au, 32 gpt Ag, 0.6% Pb, 0.8% Zn; 116.45 m @ 0.03 gpt Au, 42 gpt Ag, 0.6% Pb, 0.7% Zn; 134.37 m @ 0.13 gpt Au, 20 gpt Ag, 0.6% Pb, 0.7% Zn; 191.57 m @ 0.04 gpt Au, 35 gpt Ag, 0.8% Pb, 0.8% Zn.
  • Capitan Mining Inc. reported results form five reverse circulation (RC) drill holes at El Capitan, in Durango. Highlighted core length intervals comprise 6.1 m @ 0.15 gpt Au; 13.7 m @ 0.32 gpt Au; 44.2 m @ 0.13 gpt Au, 3 gpt Ag; 6.1 m @ 0.12 gpt Au, 5 gpt Ag; 10.7 m @ 0.12 gpt Au, 27.4 m @ 0.23 gpt Au; 62.5 m @ 0.38 gpt Au, 4 gpt Ag; 35.1 m @ 0.14 gpt Au; 21.3 m @ 0.19 gpt Au; 18.3 m @ 0.15 gpt Au; 6.1 m @ 0.29 gpt Au; 13.7 m @ 0.39 gpt Au, 4 gpt Ag; 85.3 m @ 0.16 gpt Au; 19.8 m @ 0.15 gpt Au, 4 gpt Ag.
  • Zacatecas Silver Corp. provided an update on the drilling program at Panuco, within its Zacatecas property in Zacatecas. Four drill holes were completed for a total of 1,088m at Panuco, while two more were completed at Las Cruces vein system and one more is ongoing. Results are pending.

ON DEALS AND CORPORATE ISSUES

  • Argonaut Gold Inc. has acquired key mineral concessions from Fresnillo PLC for a cash consideration of US$5.75 M. The acquired package comprises a 4,791-ha concession and four key small concessions totalling 27 ha, which will allow Argonaut to expand the pit, increase mineral reserves and extend mine life.

ON SOCIAL RESPONSIBILITY

  • Minera Media Luna informed on educational programs presented at communities in Guerrero.
  • Peñoles presented its company-wide water saving strategy on all its activities.
  • Newmont Peñasquito updated on activities with positive results in near-by communities.
  • Panamerican Silver informed on community health programs near its La Colorada mine in Zacatecas.

On the image below: Galena bearing milky quartz vein on a project in the Sonoran Desert. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Third Week of September, 2021

By Jorge Cirett

During the 37th week of the year (September 13th to September 19th, 2021), at least 19 press releases were announced by companies working in Mexico. To note, four companies posted exploration advances on their properties, one posted on quarterly reports, three on mining issues, two on financing or shares and seven more on project development or resource definition and one more on a property acquisition. ON MEXICO ISSUES, silver mining investments boosted. ON EXPLORATION, in Sonora, Benjamin Hill Mining filed a NI43-101 technical report on the Benjamin Hill property, and later in the week released gold-rich surface samples assays. In Chihuahua, Mammoth Resources commenced drilling at Tenoriba. In Durango, Canasil Resources presented results from drilling at Nora. ON MINING, Americas Gold and Silver started to recall its workforce at Cosalá in Sinaloa. Starcore International presented its quarterly report. Mexus Gold completed its first substantial gold sale. Tarachi Gold released metallurgical results for El Jabali, in Sonora. ON FINANCING, SilverCrest Metals was included on a top performer list of the TSX. Vizsla Silver completed the spin out of Vizsla Copper. ON RESOURCES AND DEVELOPMENT, Argonaut Gold continues to find high-grade gold under El Creston pit at La Colorada in Sonora. Impact Silver bought another drill rig for Zacualpan, in Estado de Mexico. Fabled Silver presented results from surface drill holes at Santa Maria, in Chihuahua. Hecla Mining updated on exploration at San Sebastian, in Durango. GoGold Resources released drilling results from El Favor deposit at its Los Ricos North project. Sonoro Gold presented a PEA on its Cerro Caliche project in Sonora. Golden Minerals released results from 20 RC holes at Rodeo, in Durango.   ON DEALS AND CORPORATE ISSUES, Tocvan Ventures completed the acquisition of Millrock’s Picacho concessions in Sonora. ON SOCIAL RESPONSIBILITY, Peña Colorada informed on works to benefit inhabitants of three communities in Colima.

ON MEXICO ISSUES

  • Silver mining investments in Mexico boosted by a production shortfall and ecological demand. Mining companies in Mexico are investing in growth on the outlook of silver demand surpassing production in the transition to the abandonment of fossil fuels. Silver use is augmenting in the construction of photovoltaic panels, and is also a key component in the construction of electric vehicles. Silver production has fallen from 899 M Oz in 2016 to 784 M Oz in 2020, although a rebound from the pandemic is estimated at 848 M Oz for 2021. Mexico was the largest silver producer in the world in 2020, with 180 M Oz.  
  • The AIMMG (Asociación de Ingenieros de Minas, Metalurgistas y Geólogos de México) 2021 conference is to be held in Acapulco, Guerrero, in October 19 to 22.

ON EXPLORATION

  • Benjamin Hill Mining Corp. filed a NI-43-101 technical report on the Benjamin Hill property in Sonora. There are six active areas of exploration in the 6,000 ha property: Caracahui (high grade Au-Ag-Cu epithermal veins), Caracahui North (specularite bearing veins), Sonora Copper (two wide structures up to 30 m wide, Au-Cu-Ag bearing), La Falsa (stockwork) and La Berrenda (historical mine and Au-Cu in stream sediments). Recommended further work includes completion of surface and underground mapping and sampling, petrography, dating of intrusive rocks, further prospecting and diamond drilling of the most prospective targets.
  • Monarca Minerals Inc. completed another three RC holes at its San Jose project in Chihuahua. “all of the drill hole intersected exoskarn and/or endoskarn mineralization with sulfide minerals ….. The sulfide minerals observed were dominantly pyrite, with very fine grained dark sulfide minerals, which appear to be sphalerite and galena in some cases. Chalcopyrite was locally observed”. Results are pending.
  • Mammoth Resources Corp. commenced its diamond drilling program at Tenoriba in Chihuahua. Five target zones are to be tested along a 4 km east-west trend incorporating over 3,000 soil, chip and channel samples and 26 prior drill holes. Two rigs are on site to test the targets generated by the 3D modelling of surface and geophysical data.
  • Canasil Resources Inc. presented results from the fourth hole of the 2021 follow up drill campaign at Nora, in Durango. Highlighted true width intercepts comprise 11.29 m @ 5.31 gpt Au, 336 gpt Ag, 0.17% Zn, including 1.35 m @ 9.00 gpt Au, 487 gpt Ag and 1.81 m @ 9.54 gpt Au, 729 gpt Ag and 1.81 m @ 9.43 gpt Au, 666 gpt Ag. “The high-grade mineralized bands in core drill holes NRC-21-09 ………. and NRC-21-12 are defining the highest-grade zone of the Candy vein structure, and point to increasing grades and widths to depth, and along strike to the north of the central panel tested to date”.
  • Benjamin Hill Mining Corp. released high-grade assay results from the Caracahui and Caracahui North zones at its Benjamin Hill property in Sonora. Highlighted results include 31.4 gpt Au, 1.0% Cu, 31 gpt Ag; 16.2 gpt Au, 16 gpt Ag; 15.9 gpt Au, 0.4% Cu, 3 gpt Ag; 15.1 gpt Au, 0.5% Cu, 139 gpt Ag; 8.5 gpt Au, 1.3% Cu, 18 gpt Ag; 7.5 gpt Au, 34 gpt Ag; 4.8 gpt Au, 1.2% Cu, 109 gpt Ag from Caracahui North, and 31.4 gpt Au, 158 gpt Ag; 15.1 gpt Au, 139 gpt Ag; 4.8 gpt Au, 109 gpt Ag, 4.1 gpt Au, 83 gpt Ag; 3.3 gpt Au, 94 gpt Ag; 2.8 gpt Au, 110 gpt Ag; 2.6 gpt Au, 110 gpt Ag, 0.7 gpt Au, >200 gpt Ag; 0.2 gpt Au, 172 gpt Ag; 0.5 gpt Au, 140 gpt Ag at the Caracahui zone.  

ON MINING

  • Americas Gold and Silver Corp. started to recall its workers to re-commence operations at its Cosalá operations in Sinaloa.
  • Starcore International Mines Ltd. reported results for the quarter ending July 31, 2021. During the period the San Martin mine in Queretaro milled 56.3 K tonnes @ 1.64 gpt Au, 20.9 gpt Ag, recovering 88.3% Au, 52.1% Ag to produce 2.6 K Oz Au, 19.8 K Oz Ag at cash cost 1,177 per Oz AuEq. Cash and short-term investments of $4.9 M at the end of July.
  • Mexus Gold US. completed the first substantial sale of gold produced at its Santa Elena mine in Sonora, with 76.5 Oz Au sold.
  • Tarachi Gold Corp. released metallurgical test results on samples from its Jabali project in Sonora. Three samples from drill core responded well to cyanide leaching, with an average of 94.8% Au, 48.5% Ag recoveries. “Further metallurgical investigation on representative samples is recommended to better optimize process conditions and determine sample variability.

ON FINANCING

  • SilverCrest Metals Inc. announced the company has been included in the Toronto Stock Exchange ‘s 2021 TSX30, a flagship program recognizing the 30 top performing TSX stocks s over a three-year period based on dividend-adjusted share price appreciation. In this period the shares of SilverCrest rose 286% (Las Chispas, Sonora).
  • Vizsla Silver Corp. announced the effective date for the spin-out of its British Columbia copper asset to Vizsla Copper Corp. is September 20, 2021 (Panuco, Sinaloa).

ON RESOURCES AND DEVELOPMENT

  • Argonaut Gold Inc. continues to encounter high-grade gold mineralization in three distinct veins below El Crestón pit at La Colorada, in Sonora. Highlighted core length intercepts comprise 38.1 m @ 9.10 gpt Au, 127 gpt Ag (including 4.6 m @ 51.9 gpt Au, 28 gpt Ag) in the South vein; 29.0 m @ 3.62 gpt Au, 10 gpt Ag (including 4.6 m @ 17.4 gpt Au, 29 gpt Ag) in the North vein; 22.9 m @ 6.7 gpt Au, 30 gpt Ag (including 1.5 m @ 90.0 gpt Au, 15 gpt Ag). “Drilling and mine operations have currently defined over 800 metres of strike length along the veins….” which remain open along strike and reach at least 250 m below the planned bottom of the pit. The company is evaluating the possibility of developing an underground mine at the site.
    • Impact Silver Corp. purchased a surface drill rig for exploration at its Royal Mines of Zacualpan project in Estado de Mexico. “This brings the total Company-owned drill fleet to two surface and two underground rigs”.  
    • Fabled Silver Gold Corp. presented results from three surface drill holes at its Santa Maria project in Chihuahua. All holes intercepted a series of sheeted veinlets and a diorite dike at depth that is thought to be the source of mineralization at depth. The first hole of this release intercepted up to 1.15 m @ 0.51 gpt Au, 26 gpt Ag; the second hole up to 0.40 m @ 0.84 gpt Au, 21, gpt Ag, 0.15% Pb, 0.15% Zn; the third hole up to 0.90 m @ 1.57 gpt Au, 122 gpt Ag, 3.7% Pb, 14.3% Zn, 0.14% Cu. Gold grades appear to increase with depth.
    • Hecla Mining Co. update on exploration at its projects, including San Sebastian in Durango. “Drilling completed in the El Bronco vein targeted gaps in the drill data. While we have had good vein widths and grades at the current level of drilling at El Bronco, continuity of grade has been challenging. Analysis of the geochemistry, vein phase stratigraphy, and vein textures all indicate that the current levels of drilling at both the El Bronco and El Tigre veins are high in the epithermal system”.
    • GoGold Resources Inc. released the results from eight drill holes from El Favor deposit at Los Ricos North project in Jalisco. Highlighted core length intercepts include: 16.3 m @ 0.05 gpt Au, 44 gpt Ag; 0.9 m @ 0.31 gpt Au, 233 gpt Ag; 68.7 m @ 0.12 gpt Au, 71 gpt Ag (including 3.2 m @ 0.88 gpt Au, 431 gpt Ag); 108.0 m @ 0.16 gpt Au, 47 gpt Ag (including 16.1 m @ 0.65 gpt Au, 153 gpt Ag); 73.7 m @ 0.26 gpt Au, 66 gpt Ag (including 2.5 m @ 1.32 gpt Au, 515 gpt Ag); 8.6 m @ 0.15 gpt Au, 67 gpt Ag; 58.8 m @ 0.28 gpt Au, 90 gpt Ag (including 4.8 m @ 1.71 gpt Au, 423 gpt Ag); 48.1 m @ 0.28 gpt Au, 83 gpt Ag (including 3.0 m @ 1.79 gpt Au, 219 gpt Ag); 43.7 m @ 0.17 gpt Au, 56 gpt Ag.
    • Sonoro Gold Corp. presented the results of a preliminary economic assessment (PEA) including an updated mineral resource estimate on Cerro Caliche in Sonora. The report envisages: An after-tax NPV (5%) of US$41.5 M with an IRR of 32.4% at US$1,750/Oz Au and US$22/Oz Ag; 7 years of Life of Mine (LOM) producing 325 K Oz AuEq, recovering 74% Au, 27% Ag with crushing to p80 of ½”; initial capex of US$32.2 M; All-In sustaining cost of US$1,462/Oz AuEq. The updated mineral resource estimate for the open pit operation is 26.7 M tonnes @ 0.41 gpt Au, 3.43 gpt Ag on measured and indicated resources and 5.4 M tonnes @ 0.40 gpt Au, 7.34 gpt Ag on inferred resources. The report also notes a range of potential mineralization of 19.2 to 34.4 M tonnes that could contain 204 to 365 K Oz Au, 1.7 to 3 M Oz Ag.
    • Golden Minerals Co. released assay results from 20 diamond drill holes and commenced a reverse circulation drill program for resource definition at its Rodeo mine in Durango.  Here some of the highlighted intervals: 78.7 m @ 1.06 gpt Au, 10 gpt Ag (including 13.9 m @ 2.88 gpt Au, 4 gpt Ag); 70.0 m @ 0.56 gpt Au, 6 gpt Ag (including 14.2 m @ 1.07 gpt Au, 15 gpt Ag); 64.4 m @ 0.85 gpt Au, 9 gpt Ag; 26.0 m @ 0.82 gpt Au, 6 gpt Ag; 16.8 m @ 0.74 gpt Au, 7 gpt Ag; 29.1 m @ 0.58 gpt Au, 6 gpt Ag; 47.0 m @ 0.58 gpt Au, 3 gpt Ag; 27.5 m @ 0.64 gpt Au, 2 gpt Ag; 31.6 m @ 0.39 gpt Au; 34.6 m @ 0.73 gpt Au, 4 gpt Ag. “Drilling has intersected several wide zones of disseminated gold mineralization and has identified several additional high-grade zones that appear to be hosted in a series of silicified structures running parallel to the high-grade gold zones currently being mined”.

    ON DEALS AND CORPORATE ISSUES

    • Tocvan Ventures Corp. completed their due diligence process and executed the final agreement to acquire Millrock’s Resources option to acquire up to 100% interest in the 2,414 ha Picacho mining concessions in Sonora. Tocvan must make payments of US$1.99 M to the underlying private concession owners over a five-year term to acquire 100% interest.

    ON SOCIAL RESPONSIBILITY

    • Peña Colorada informed on works to benefit inhabitants of three communities in Colima.

    On the image below:  Bladed calcite replacement form a project in northern Sonora. Picture by Jorge Cirett.

    The Mining and Exploration News in Mexico: Highlights on the Third Week of August, 2021

    By Jorge Cirett

    During the 33rd week of the year (August 16th to August 22nd, 2021), at least 22 press releases were announced by companies working in Mexico. To note, four companies posted exploration advances on their properties, four posted on mining/quarterly reports, two on mining issues, four on financing or shares  and five more on project development or resource definition and one more on a property acquisition. ON MEXICO ISSUES, No relevant news. ON EXPLORATION, in Sonora, Aloro Mining informed on continuation of drilling at Los Venados. In Chihuahua, Radius Gold announced one more drilling campaign at Amalia. In Sinaloa, Vizsla Silver updated on exploration at Panuco. In Nayarit, Xali Gold submitted drilling applications for El Dorado.    ON MINING, Americas Gold and Silver, Prime Mining, First Majestic Silver, and Impact Silver presented second quarter 2021 reports. Mexus Gold shipped its first activated carbon. Gold Resource halted activities due to increase in COVID cases among its workforce. ON FINANCING, Candelaria Mining will not complete the proposed private placement. Galore Resources is to extend the expiry date of some warrants. Kootenay Silver is to spin-out its Canadian assets into another company. Magna Gold closed the previously announced private placement for C$10 M. ON RESOURCES AND DEVELOPMENT, Sierra Metals announced a 10,000 tpd PEA for its Bolivar mine in Chihuahua. Fabled Silver Gold released more results from drilling at Santa Maria. Excellon Resources released high grade Ag-Pb-Zn drilling results from Platosa. GoGold Resources informed on results of drilling at the Casados deposit at Los Ricos project. Sonoro Gold reported results of metallurgical tests at Cerro Caliche.  ON DEALS AND CORPORATE ISSUES, Starcore International Mines acquired the Tecouitla claims in Sonora. ON SOCIAL RESPONSIBILITY, No relevant news.

    ON MEXICO ISSUES

    • No relevant news.

    ON EXPLORATION

    • Xali Gold Corp. informed exploration permit applications have been submitted for El Dorado project in Nayarit. The plus 2,000 m program envisaged will test potential lateral extensions to high-grade zones to better define plunging mineralization shoots, and collection of a bulk sample from El Hundido mine.
    • Radius Gold Inc. announced that the phase five drilling campaign has commenced at its Amalia project in Chihuahua. Pan American Silver Corp., the project operator plans to deploy a second rig to test El Cuervo target.
    • Aloro Mining Corp. informed that Alamos Gold Inc. is to resume the reconnaissance drill program on the Los Venados claims in Sonora. Alamos has already exceeded its first year exploration commitment; the current program is focused on outcropping low sulfidation epithermal mineralization.
    • Vizsla Silver Corp. provided an update on its Panuco project in Sinaloa. Due to the current rise in Covid cases in Sinaloa, Vizsla will keep the current pause in activities at the property until the end of the month, and then gradually increase activities through September. Resource drilling is being done at Napoleon (950 x 350 m area) and Tajitos (550 m x 300 m area), exploration drilling is testing the Napoleon, Cinco Señores, Cordon de Oro and Animas Corridors. Preliminary metallurgical testing is being done on Napoleon vein material, and geotechnical and hydrogeological studies are being conducted. Drilling programmed for the remainder of 2021 comprises 35,000 m.  

    ON MINING

    • Americas Gold and Silver Corp. reported second quarter 2021 consolidated financial and operational results. For Mexico, the company reported that it “signed an agreement with the Mexican Ministries of Economy, Interior and Labour along with union representatives committing to a re‐opening at the Cosalá Operations.    The agreement contemplates immediate right to possession of the property with joint inspections coordinated by the Ministry of Labor, so that the mine and mill can re‐start operations in a safe and sustainable manner”. (Note from writer. – The mine was paralyzed by a dispute between two unions over a year ago, with strong political connotations).
    • Prime Mining Corp. reported its operational and financial results for the fourth quarter of fiscal year 2021, end in April 2021. During April the company completed a private placement for gross proceeds of CAN$28.75 M. Also in the period, drilling at Los Reyes in Sinaloa intersected up to 20.1 m @ 3.25 gpt Au, 389 gpt Ag, 3.8 m @ 3.69 gpt Au, 305 gpt Ag, 4.5 m @ 8.95 gpt Au, 74 gpt Ag; 18.7 m @ 1.96 gpt Au, 63 gpt Ag; 39.0 m @ 0.7 gpt Au, 29 gpt Ag. Cash at the end of the period stood at Can$32 M.
    • First Majestic Silver Corp. announced the consolidated financial results for the second quarter 2021. During the period the company processed 826.2 K tonnes, to produce 3.27 M Oz Ag, or 6.43 Oz AgEq at $13.89 per Oz AgEq and an AISC of $19.42 per Oz AgEq. In Mexico, the production came from San Dimas, in Durango, La Encantada, in Coahuila, and Santa Elena, in Sonora.
    • Mexus Gold US. confirmed the first shipment of activated carbon from its Santa Elena mining operation in Sonora (Not to mistake with First Majestic’s Santa Elena mine, also in Sonora).
    • Gold Resource Corp. informed that as result of a steep climb in COVID-19 infections, the company is reducing its activities at the Don David mine in Oaxaca. The measure is to last for at least ten days. “The operations will continue with those employees and contractors who have agreed to stay in the camp for periods longer than the usual rotation to create a bubble”.
    • Impact Silver Corp. announced its financial and operational results for the second quarter 2021. The cash balance at the end of the quarter was $22.4 M. The mill processed 37.8 K tonnes @ 147 gpt Ag to produce 150.3 K Oz Ag. Some results of its ongoing 10,000 m drilling campaign include 9.8 m @ 211 gpt Ag and 13.85 m @ 186 gpt Ag.

    ON FINANCING

    • Candelaria Mining Corp. informed that the company will not be proceeding with the proposed brokered private placement previously announced (Pinos, Zacatecas, Guerrero).
    • Galore Resources Inc. proposed to extend the expiry date of 5.6 M share purchase warrants from September 2021 to September 2024 (Dos Santos, Zacatecas).
    • Kootenay Silver Inc. board approved a spin-out of 80% of its Canadian exploration assets. Once the arrangement becomes effective, Kootenay shareholders will own shares in two public companies, one focusing in Mexico and the other in Canada (Columba, Chihuahua).
    • Magna Gold Corp. closed the previously announced private placement of C$10 M convertible debentures (San Francisco, Sonora).

    ON RESOURCES AND DEVELOPMENT

    • Sierra Metals Inc. announced a 10 K tonnes per day positive preliminary economic assessment (PEA) to include iron ore production at its Bolivar mine in Chihuahua. The report envisages an updated after-tax net present value (NPV) of US$361 M at an 8% discount rate, an IRR of 27.9%, net after-tax cash flow of US$650 M with a life of mine (LOM) copper grade of 0.72% and iron ore at 13.5%, an operating cost of US$25.62/tonne and US$1.50 per Lb CuEq, to produce 55 M Lb Cu in 14 years. Current indicated resources stand at 19.4 M tonnes @ 0.77% Cu, 15.1 gpt Ag, 0.21 gpt Au, 13.8% Fe, containing 149.1 K tonnes Cu, 9.4 M Oz Ag, 127.8 K Oz Au, and inferred resources at 21.4 M tonnes @ 0.78% Cu, 14.2 gpt Ag, 0.21 gpt Au, containing 167.1 K tonnes Cu, 9.8 M Oz Ag, 145.6 K Oz Au.
    • Fabled Silver Gold Corp. announced more results from surface drilling at its Santa Maria project in Chihuahua. Highlighted core length intervals comprise 0.85 m @ 0.98 gpt Au, 10 gpt Ag; 0.80 m @ 0.09 gpt Au, 63 gpt Ag, 0.3% Pb, 0.6% Zn; 20.10 m @ 0.18 gpt Au, 35 gpt Ag, 1.1% Pb, 0.7% Zn, 0.09% Cu (including 5.90 m @ 0.30 gpt Au, 97 gpt Ag, 3.3% Pb, 1.5% Zn, 0.25% Cu).
    • Excellon Resources Inc. released results from underground drilling at Platosa, in Durango. Some of the highlighted core length intervals: 3.0 m @ 227 gpt Ag, 2.3% Pb, 2.0% Zn, 0.1 gpt Au; 1.3 m @ 360 gpt Ag, 10.1% Pb, 10.2% Zn; 1.3 m @ 692 gpt Ag, 9.3% Pb, 6.3% Zn; 1.2 m @ 544 gpt Ag, 5.9% Pb, 3.9% Zn; 1.6 m @ 1,647 gpt Ag, 12.3% Pb, 11.6% Zn, 0.1gpt Au; 5.2 m @ 1,051 gpt Ag, 12.1% Pb, 13.1% Zn, 0.2 gpt Au (including 2.3 m @ 1,985 gpt Ag, 22.8% Pb, 17.2% Zn); 2.5 m @ 784 gpt Ag, 7.7% Pb, 13.9% Zn, 0.3 gpt Au; 3.1 m @ 581 gpt Ag, 5.7% Pb, 11.4% Zn, 0.1 gpt Au; 1.4 m @ 1,050 gpt Ag, 3.4 % Pb, 2.0% Zn; 3.1 m @ 289 gpt Ag, 2.2% Pb, 3.7% Zn. “Drilling from underground continues to define and expand known mineralization ahead of production at the 623, NE-1 and NE-1S Mantos. Most significantly, drilling into the 623 and NE-1 Mantos continues to improve understanding and confidence, and extend mineralization in these areas”.
    • GoGold Resources Inc. informed on results from seven drill holes at the Casados deposit at the Los Ricos North project in Jalisco. Highlighted core length intervals: 19.0 m @ 0.54 gpt Au, 131 gpt Ag (including 1.3 m @ 5.16 gpt Au, 1,319 gpt Ag); 9.5 m @ 0.50 gpt Au, 233 gpt Ag; 41.6 m @ 1.25 gpt Au, 218 gpt Ag (including 8.9 m @ 4.71 gpt Au, 698 gpt Ag); 19.2 m @ 0.53 gpt Au, 185 gpt Ag (including 8.5 m @ 1.14 gpt Au, 594 gpt Ag); 8.2 m @ 0.26 gpt Au, 82 gpt Ag. “The Casados Veins strike nearly E-W, dips 45o to the north and is hosted in andesitic tuffs and is exposed on surface for about 400 metres along strike…… A zone of silicification up to 50 metres wide envelopes the vein and this resistant outcrop forms a steep ridge along the strike of the vein, particularly on the north or hanging wall side”.
    • Sonoro Gold Corp. reported results from metallurgical tests on mineralized material from Cerro Caliche in Sonora. The column metallurgical test returned an average of 74% recovery of gold for the 80% minus 12.5 mm feed material. The 4.7 tonnes sample was obtained from ten PQ (8.5 cm diameter) holes totaling 428 lineal meters. Little to no sulfur and organic carbon were observed on the testing. “There were no obvious variations in gold recovery related to ore zone or material type (vein breccia vs. stock work)”.

    ON DEALS AND CORPORATE ISSUES

    • Starcore International Mines Ltd. informed on the acquisition of the 3,088 hectares Tecoutila claims from Minera Tecouitla, S.A. de C.V.. Previous exploration in the property reported nine veins with lengths of up to 2.1 Km, widths of 0.5 to 1.1 m and grades of up to 10.30 gpt Au, 241 gpt Ag.

    ON SOCIAL RESPONSIBILITY

    • No relevant news.

    On the image below:  Workings and vein trace on a project in northern Sonora. Picture by Jorge Cirett.

    The Mining and Exploration News in Mexico: Highlights on the First Week of August, 2021

    By Jorge Cirett

    During the 31st week of the year (August 2nd to August 8th, 2021), at least 34 press releases were announced by companies working in Mexico. To note, seven companies posted exploration advances on their properties, twelve posted on mining/quarterly reports and eight more on project development or resource definition. ON MEXICO ISSUES, No relevant news. ON EXPLORATION, in Sonora, Aztec Minerals informed on soil sampling results at Cervantes; Canuc released information on current drilling at San Javier; Silver Spruce completed a 2,485 m RC drill program at El Mezquite. In Chihuahua, Monarca Minerals obtained the drill permit for San José. In Sinaloa, Brigadier Gold discovered silver rich copper mineralization associated to a porphyritic intrusive. In Durango, Silver Wolf Exploration informed on mapping and sampling at Ana Maria. In Oaxaca, Madoro Metals informed on skarn mineralization sampling at Yautepec.    ON MINING, Excellon Resources, Starcore International, Consolidated Zinc, McEwen Mining, Equinox Gold, Torex Gold, Golden Minerals and Great Panther Mining presented quarterly reports. Equinox Gold reported the end of the illegal blockade at Los Filos. Altaley initiated a metallurgical testing program at Campo Morado. Avino Silver announced the re-start of mining operations at Avino. Guanajuato Silver is stockpiling material from El Cubo mine. ON FINANCING, Altaley Mining informed there is no reason for the decline in its stock price. ON RESOURCES AND DEVELOPMENT, Fabled Silver released drilling results from Santa Maria. Orla Mining provided high-grade drill results from the Camino Rojo sulfide deposit. Orex Minerals informed on metallurgical results from Coneto. Prime Mining reported drilling results from Los Reyes. Defiance Silver released drill results from its Zacatecas project. Mexican Gold Mining announced a positive PEA on Las Minas. Discovery Silver released drill results from Cordero. Mag Silver reported results from 2020 drilling at Juanicipio.  ON DEALS AND CORPORATE ISSUES, No relevant news. ON SOCIAL RESPONSIBILITY, No relevant news.

    ON MEXICO ISSUES

    • No relevant news.

    ON EXPLORATION

    • Silver Wolf Exploration Ltd. informed on exploration at its 2,549 hectares Ana Maria project in Durango. Four field geologists and a consulting senior geologist are working in the property, mapping and collecting 290 rock chip samples to date. Hyperspectral and lidar drone surveys have been carried out, and an IP geophysical program is being planned. 
    • Madoro Metals Corp. provided an update on exploration on the southern portion of the Yautepec property in Oaxaca. Skarn mineralization has returned up to 1,200 gpt Ag, 4.0% Cu, 20.0% Pb, 5.0% Zn, 45 ppm Mo, 2.74% As, 1,620 ppm Ba, 1.4 ppm Hg, 285 ppm Sb. “The skarn-hornfels complex lies just outside of the recently mapped southwestern margin of the Yautepec caldera …….. The area lies 13 kilometers distant from similar polymetallic Ag-base metal mineralization found along the eastern caldera margin at the historically identified Las Minas area”.
    • Aztec Minerals Corp. updated on exploration at its 3,649 hectares Cervantes property in Sonora. A 477-soil sample program was completed in a 100 by 100 meters grid covering 518 ha; additionally 110 rock chip samples were collected. The soil sampling returned up to 3,605 ppb Au, 1,380 ppm Cu and 52 ppm Mo, whereas the rock chip samples returned up to 21.3 ppm Au, 2,300 ppm Cu, 625 ppm Mo. The soil sampling completed in this program elevates the total covered by such a survey to 1,200 ha, or 35% of the project area.
    • Brigadier Gold Ltd. informed on a silver-rich copper discovery at its Picachos project in Sinaloa. A 110 m trench dug in the Las Colinas prospect returned results of 9.0 m @ 135 gpt Ag, 0.05 gpt Au, 0.2% Cu, 0.3% Pb, 0.1% Bi, 47 ppm W (including 2 m @ 478 gpt Ag, 0.08 gpt Au, 0.2% Cu, 0.5% Pb, 0.3% Bi). “The significance of this geological finding is that these mineralized porphyritic apophyses with associated copper and other metals may expand at depth and intensify”.
    • Canuc Resources Corp. informed on exploration advances at its San Javier project in Sonora. A drill hole targeting a magnetic high encountered massive magnetite at 343 m of depth, and is still on it at 380 m. Sphalerite, marmatite and chalcopyrite have been identified in stringers during preliminary logging, and are to be sampled. Six high-grade silver samples were sent for mineralogical studies, with most of the silver minerals consisting of halides (AgCl, AgBr, AgI, AgF) and acanthite.
    • Silver Spruce Resources Inc. announced the completion of the phase 1 reverse circulation drilling at El Mezquite in Sonora. A total of 2,485 m were drilled in twenty holes on a 400 by 600 m area. “Collars were defined by several northeast-trending veins, structural lineaments and oxide/sulphide transitions interpreted from geological mapping, precious metal assays, multi-element geochemistry, epithermal alteration assemblages and coincident 3D IP chargeability anomalies”.
    • Monarca Minerals Inc. obtained the environmental permit (Informe Preventivo) to complete its planned 5,000 m drill program at its San José project in Chihuahua. Drilling is expected to commence within the next four weeks.

    ON MINING

    • Excellon Resources Inc. reported second quarter 2012 financial results. During the period 21.8 K tonnes were mined, 21.6 K tonnes milled at La Platosa, Durango, averaging 489 gpt Ag, 5.14% Pb, 6.48% Zn, recovering 87.0% Ag, 78.6% Pb, 79.4% Zn, to produce 296 K Oz Ag, 1.93 M Lb Pb, 2.46 M Lb Zn, or 489 K Oz AgEq. Cash cost was $11.96 per Ag Oz and AISC  $26.69 per Ag Oz.
    • Starcore International Mines Ltd. filed the results for the year ended April 30, 2021. During the year the San Martin mine in Queretaro milled 225.5 K tonnes @ 1.63 gpt Au, 24.7 gpt Ag, recovering 87.3% Au, 57.5% Ag, to produce 10.5 K Oz Au, 103.4 K Oz Ag, or 11.8 K Oz AuEq. The mine operating cash cost per AuEq Oz was US$1,056.
    • Consolidated Zinc Ltd. presented its quarterly activities report. Commercial production commenced at the refurbished Plomosas plant in Chihuahua, with 8,655 tonnes mined, 9,079 tonnes processed @ 15.1% Zn, 7.4% Pb, 54 gpt Ag, with recoveries of 52.5% Zn, 41.2% Pb.
    • Equinox Gold Corp. reported that the illegal community blockade at its Los Filos mine in Guerrero has been removed, and regular operations resumed on all areas.
    • Altaley Mining Corp. initiated a metallurgical testing program to increase base and precious metals recoveries at its Campo Morado mine in Guerrero. Testing by the previous operator in 2013 achieved 45-65% Au and 75-81% Ag, while current recoveries are 20% Au, 40% Ag. “The Leachox process is a partial sulphide oxidation process for the recovery of gold and silver from sulphide minerals….. but central to the Leachox process is the Aachen shear reactor. In the leach process, it enhances the kinetics and reduces reagent consumptions (oxygen, cyanide, and lime) which otherwise can be prohibitive”.
    • Avino Silver & Gold Mines Ltd. announced mining operations restarted at its Avino mine in Durango. “Management expects throughput at the mill will ramp-up quickly to levels prior to shut down. In addition, we are infill-drilling the oxide tailings resource that sits within our tailings storage facility, as well as continuing the previously reported exploration drill program”.
    • McEwen Mining Inc. reported its second quarter 2021 results, including figures from its operations in Mexico. At El Gallo, in Sinaloa, residual leaching produced 1,300 AuEq Oz from the leach pad. “The residual leaching activities at El Gallo are expected to wind down in early 2022”.
    • Equinox Gold Corp. delivered its second quarter 2021 financial and operating results, including information from its Mexican operations. During the period the acquisition of Premier Gold Mines Ltd. taking 100% control of the Mercedes mine in Sonora. Its updated production guidance for 2021 includes 120-140 K Oz Au from Los Filos and 30-35 K Oz Au from Mercedes, at cash cost of $1,590-$1,660 and $750-$800 respectively. “The primary change to gold production guidance is from Los Filos, where illegal blockades during the quarter disrupted mining activities and delayed access to higher-grade ore”. Production guidance was reduced by 50 K Oz Au due to these illegal blockades.
    • Torex Gold Resources Inc. reported financial and operational results for the second quarter 2021. During the period 118,054 Oz Au were produced, generating free cash flow of $21.9 M, taking the net cash to $191.5 M. The new mineral resource update of 3.54 M Oz AuEq at 5.27 gpt Au on indicated resources for Media Luna was released past June. The expansion of the open pit at El Limón was approved and is expected to result in the increase of 150 K Oz Au in additional production, providing a smoother transition to the Media Luna deposit mining. The Media Luna feasibility study is to contemplate a conventional mining basis, although a smaller satellite deposit could be developed with the proprietary Muckahi mining system.
    • Golden Minerals Co. provided financial results for the second quarter 2021. The company obtained a $2.5 M net operating margin related to the Rodeo mine operations in Durango., where 3,634 Oz Au were produced. The mill in Velardeña processed the Rodeo ore at a rate of greater than 500 tpd during May and June. Cash and cash equivalents were $6.9 M by the end of the quarter.
    • Great Panther Mining Ltd. announced consolidated financial results for the second quarter 2021, including figures from its Mexican operations. A total of 56 K tonnes were milled in Mexico averaging 327 gpt AgEq.
    • Guanajuato Silver Company Ltd. is stockpiling ore from El Cubo mine in Guanajuato in advance of the recommencement of operations at El Cubo mill. The mineralized material is coming from the 2175, 1850 and Cebolletas stopes, which are summarized as the Villalpando stopes, same that will provide most of the material for the operation of the plant in the immediate future.

    ON FINANCING

    • Altaley Mining Corp. advised there is no operational or financial reason for the decline in its stock price (Campo Morado, Guerrero).

    ON RESOURCES AND DEVELOPMENT

    • Fabled Silver Gold Corp. released drilling results from its Santa María Project in Chihuahua. Highlighted core length results comprise 9.0 m @ 0.10 gpt Au, 50 gpt Ag; 1.50 m @ 0.06 gpt Au, 144 gpt Ag; 5.40 m @ 0.41 gpt Au, 29 gpt Ag; 2.20 m @ 0.11 gpt Au, 122 gpt Ag; 3.70 m @ 0.18 gpt Au, 26 gpt Ag; 2.90 m @ 0.06 gpt Au, 93 gpt Ag (including 1.15 m @ 0.07 gpt Au, 191 gpt Ag). New underground drilling stations are being planned to better define the structures.
    • Orla Mining Ltd. provided results of oriented in-fill core drilling at its Camino Rojo sulfide deposit in Zacatecas. Highlighted core length intervals in the press release comprise 108.0 m @ 2.38 gpt Au; 111.0 m @ 2.63 gpt Au; 58.5 m @ 2.51 gpt Au; 115.5 m @ 2.11 gpt Au; 64.6 m @ 3.04 gpt Au; 55.5 m @ 4.47 gpt Au; 55.5 m @ 4.95 gpt Au; 58.5 m @ 2.10 gpt Au; 87.0 m @ 2.27 gpt Au; 44.7 m @ 3.26 gpt Au. “The drill results confirm the presence of wide, higher-grade gold zones within the sulphide mineral resource, and the Company intends to further explore the potential for open pit or underground bulk mining methods”.
    • Orex Minerals Inc. informed its joint venture partner (55%) Fresnillo PLC has received metallurgical testing results for the Coneto project in Durango. Recoveries in seven zones with head grades of 0.80-3.00 gpt Au, 9-229 gpt Ag averaged 66.1 to 98.5% Au and 72.9 to 92.3% Ag.
    • Prime Mining Corp. reported drill results from six holes collared on San Miguel East, at its Los Reyes project in Sinaloa. Highlighted true width (tw) intervals comprise 7.5 m @ 2.50 gpt Au, 118 gpt Ag (including 3.4 m @ 4.57 gpt Au, 140 gpt Ag); 15.0 m @ 1.02 gpt Au, 51 gpt Ag (including 3.0 m @ 4.11 gpt Au, 13 gpt Ag); 1.4 m @ 1.59 gpt Au, 5 gpt Ag; 5.6 m @ 0.82 gpt Au, 7 gpt Ag; 0.7 m @ 1.55 gpt Au; 3.8 m @ 1.58 gpt Au, 14 gpt Ag, 1.4 m @ 1.18 gpt Au, 42 gpt Ag. “Discovery of the Fresnillo structure within San Miguel East’s current and expanding open-pit boundary is favorable and will reduce the stripping ratio of waste rock. Results from our initial drilling at Las Primas are early stage and very promising with the potential to add another deposit within the area of our existing eight deposits”.
    • Defiance Silver Corp. released drill results from its Zacatecas project in Zacatecas. Highlighted core-length results comprise 3.15 m @ 0.09 gpt Au, 118 gpt Ag, 0.2% Zn (including 1.25 m @ 0.20 gpt Au, 254 gpt Ag); 2.22 m @ 0.01 gpt Au, 138 gpt Ag; 16.47 m @ 0.17 gpt Au, 106 gpt Ag, 0.3% Zn (including 8.28 m @ 0.17 gpt Au, 166 gpt Ag, which in turn includes 4.55 m @ 0.12 gpt Au, 241 gpt Ag, 0.2% Zn).
    • Mexican Gold Mining Corp. announced a positive preliminary economic assessment (PEA) study for its Las Minas project in Veracruz. A new mineral resource estimate of 4.13 M tonnes @ 1.96 gpt Au, 4.6 gpt Ag, 1.08% Cu, 14.8% Magnetite in indicated resources and 5.20 M tonnes @ 1. 44 gpt Au, 6.0 gpt Ag, 0.95% Cu, 17.5% Magnetite in inferred resources, containing 443 K AuEq Oz and 361 K AuEq Oz respectively, with the estimated recoveries of 80% Au, 70% Ag, 90% Cu, 90% Magnetite. The PEA envisages an 8.5-year mine life with cash cost of $786 per AuEq Oz and an AISC of US$928 per AuEq Oz.
    • Discovery Silver Corp. released results from 21 diamond drill holes at its Cordero project in Chihuahua. Highlighted core length intercepts comprise 132.6 m @ 78 gpt Ag, 0.11 gpt Au, 1.7% Pb, 2.8% Zn, or 260 gpt AgEq (including 46.3 m @ 110 gpt Ag, 0.10 gpt Au, 2.4% Pb, 5.9% Zn; 77.1 m @ 55 gpt Ag, 0.12 gpt Au, 1.4% Pb, 1.8% Zn, or 190 gpt AgEq (including 19.6 m @ 137 gpt Ag, 0.25 gpt Au, 3.7% Pb, 3.2% Zn); 86.2 m @ 51 gpt Ag, 0.09 gpt Au, 1.2% Pb, 2.2% Zn or 192 gpt AgEq (including 36.5 m @ 97 gpt Ag, 0.16 gpt Au, 2.3% Pb, 4.3% Zn); 81.4 m @ 43 gpt Ag, 0.05 gpt Au, 0.9% Pb, 2.5% Zn, or 184 gpt AgEq (including 44.6 m @ 60 gpt Ag, 0.07 gpt Au, 1.3% Pb, 3.4% Zn). The upcoming resource estimate is to be released later this quarter.
    • Mag Silver Corp. reported results from 2020 drilling on the Juanicipio project (56%/44% Joint Venture between Fresnillo PLC and Mag Silver) in Zacatecas. Highlighted true width intercepts comprise 21.0 m @ 357 gpt Ag, 0.9 gpt Au, 1.6% Pb, 3.1% Zn, 0.2% Cu (including 6.1 m @ 1,023 gpt Ag, 1.6 gpt Au, 2.2% Pb, 1.7% Zn, 0.3% Cu); 18.1 m @ 198 gpt Ag, 3.9 gpt Au, 4.2% Pb, 10.0% Zn, 0.4% Cu in the Valdecañas Vein Deep Zone; 3.1 m @ 3,584 gpt Ag, 5.7 gpt Au, 0.5% Pb, 0.6% Zn; 5.2 m @ 1,356 gpt Ag, 3.3 gpt Au, 0.2% Pb, 0.2% Zn in the Valdecañas Vein Bonanza Zone; 10.3 m @ 112 gpt Ag, 0.6 gpt Au, 3.2% Pb, 6.2% Zn, 0.1% Cu; 7.6 m @ 101 gpt Ag, 2.4 gpt Au, 2.9% Pb, 3.5% Zn, 0.2% Cu in the Anticipada vein; 0.90 m @ 580 gpt Ag, 2.7 gpt Au in the Venadas vein; 1.9 m @ 607 gpt Ag, 9.8 gpt Au in the Valentina vein. A core length interval of 278.9 m @ 31 gpt Ag, 1.3% Zn, 0.1% Cu was obtained in the Skarn zone surrounding the Valdecañas Vein at depth.

    ON DEALS AND CORPORATE ISSUES

    • No relevant news.

    ON SOCIAL RESPONSIBILITY

    • No relevant news.

    On the image below:  Low sulfidation epithermal quartz vein from a project in northern Sonora. Picture by Jorge Cirett.

    The Mining and Exploration News in Mexico: Highlights on the Third Week of July, 2021.

    Vein-Bx hosted in volcanic rocks

    By Miguel A Heredia

    During the 28th week of the year (July 12th to July 18th, 2021), at least 29 press releases were announced by companies working in Mexico and 4 news published by the media, with nine communicating production and financial results, nine reporting on resources and developments of their properties, seven announcing financial rounds, four informing on exploration results, two commenting on Mexican issues and two discussing social issues.  ON MEXICO ISSUES, The Ministry of Economy of Mexico alerted the public about false information that is being disseminated on behalf of the “Undersecretariat of Mining” and recalled that it no longer exists. The Mexican Geological Service (SGM) and the Government of Hidalgo signed an agreement to join efforts on research and science to integrate a knowledge-creating system. ON EXPLORATION, In Sinaloa, Vizsla presented results from the first four holes collared at the Josephine Vein within its Panuco project. In Durango, Mithril released drilling result from its Copalquin property. In Zacatecas, Alien provided an update on the review and planning for the next phase of exploration on its Donovan 2 project. In Oaxaca, Inomin filed a NI43-101 technical report for its la Gitana project. ON MINING, Aura reported Q2, 2021 production from its Aranzazu mine in Zacatecas. First Majestic reported Q2, 2021 production results from their Mexican mine operations. Altaley presented Q2, 2021 production and financial results from its Campo Morado mine in Guerrero. Golden Minerals reported Q2, 2021 production results from its Rodeo mine in Durango. Gold Resource released Q2, 2021 production results from its Arista mine in Oaxaca. Magna Gold presented Q2, 2021 production results from its San Francisco mine in Sonora. McEwen reported Q2, 2021 production results from its El Gallo project, Sinaloa. Mexus announced that the company will be shipping approximately 1 tonne of activated carbon to USA for processing.  ON FINANCING, Almadex and Azucar Minerals granted stock options to certain directors, employees and consultants. Gatos Silver signed a definitive agreement to retire its portion of the Los Gatos JV term loan and announced a public offering to sell shares of its common stock (Los Gatos mine, Chihuahua). One World Lithium announced a non-brokered private placement for gross proceeds of up to CAD $2,025,000 (Salar del Diablo project, Baja California). Riverside informed that it is to receive USD $5.4M in exploration funding from BHP to advance four copper projects in Sonora. Orla Mining closed a non-broker prospectus financing for gross proceeds of USD $35M (Camino Rojo project, Zacatecas).  ON RESOURCES AND DEVELOPMENT, Discovery Silver released results from 13 drill holes collared at its Cordero project in Chihuahua. Fabled announced results from its ongoing drilling program at Santa Maria project in Chihuahua. Avino presented results from Phase 1 of the drill campaign conducted at its Avino mine in Durango. GoGold released results from eleven drill holes collared at its Los Ricos North project in Jalisco. Golden Tag presented results from a drill hole collared at the Fernandez Zone within its San Diego property in Durango. Great Panther announced Q2, 2021 production results from their Topia and Guanajuato Mine Complex located in Durango and Guanajuato respectively. IMPACT informed that it has completed phase 1 of the Veta Negra drilling program in the Zacualpan mining district, State of Mexico. Kootenay hired Blue Coast Research to conduct metallurgical testing on its la Negra property in Sonora. Prime Mining released drill results from its Los Reyes project in Sinaloa.  Silver Tiger announced that it continue intersecting high grade mineralization at its El Tigre project in Sonora.  ON DEALS AND CORPORATE ISSUES, no relevant news. ON SOCIAL RESPONSIBILITY, Grupo México donated 8,000 native trees to Hermosillo, Sonora. The Government of Zacatecas along with representatives of the mining companies Fresnillo plc and Capstone Gold began with the Tree Donation Program.

    ON MEXICO ISSUES

    • The Ministry of Economy of Mexico alerted the public about false information that is being disseminated on behalf of the “Undersecretariat of Mining” and recalled that it no longer exists. Through a press release, the agency indicated that it has no relationship with the “Commission National Mining Reactivation and Sustainable Production Mexico 2021”, nor with the “Project for Reactivation and Sustainable Production”, nor with the “Guide to Good Operating Practices”, which is supposedly being prepared by the “Undersecretary of Mining of the Government of Mexico”. According to Article 243 of the Federal Criminal Code, the crime of falsifying public documents will be punishable by imprisonment from four to eight years.
    • The Mexican Geological Service (SGM) and the Government of Hidalgo signed an agreement to join efforts on research and scienceto integrate a knowledge-creating system, for the benefit of future generations. Objectives are established to work together on two projects: Comarca Minera Geopark and LABChico: Mineral del Chico Underground Laboratory.

    ON EXPLORATION

    • Vizsla Silver Corp., presented results from the first four holes collared at the Josephine Vein within its Panuco project. Highlights include hole NP-21-132 with 2.16 g/t Au, 599 g/t Ag, 0.4% Pb, and 1% Zn (797 g/t AgEq)  over 2.5m, including 12.4 g/t Au, 3,320 g/t Ag, 1.8% Pb, and 4.9% Zn (4,431 g/t AgEq) over 0.3m; and hole NP-21-139 with 3.4 g/t Au, 426 g/t Ag, 1% Pb, and 5.5% Zn (869 g/t AgEq) over 1.45m, including 3.91 g/t Au, 502 g/t Ag, 1.2% Pb, and 6.8% Zn (1,020 g/t AgEq) over 1.15m. “Drilling intersected veining of 90m strike, 190m depth where it remains open.  Ground Electromagnetic (EM) has mapped the vein over 1.7 km”.
    • Mithril Resources Ltd., released drilling result from its Copalquin property in Durango. Bonanza grade was intersected in hole CDH-077 collared at El Refugio Area with 80.3 g/t Au and 705 g/t Ag over 8.26m, including 106 g/t Au and 913 g/t Ag over 6.26m, including 837 g/t Au and 6,680 g/t Ag over 0.77m. Other high grade intercepts were encountered in hole CDH-075 with 13.8 g/t Au and 83 g/t Ag over 2.7m, plus 10.9 g/t Au and 364 g/t Ag over 4.25m, including 16.3 g/t Au and 414 g/t Ag over 2.65m, plus 1.02 g/t Au and 17 g/t Ag over 2m, plus 0.84 g/t Au and 35 g/t Ag over 4.5m; and hole CDH-076 with 0.93 g/t Au and 16 g/t Ag over 2.4m, plus 2.06 g/t Au and 95 g/t Ag over 5m, plus 0.86 g/t Au and 39 g/t Ag over 1m. Drilling results continue expanding the El Refugio structure down dip with high-grade and bonanza grade gold-silver intercepts.
    • Alien Metals Ltd., provided an update on the review and planning for the next phase of exploration on its Donovan 2 project in Zacatecas. Alien has received this property back from Capstone after ceasing their agreement. After reviewing all the exploration work carried out at Donovan 2, Alien concluded that the original high-priority targets identified by Alien prior to Capstone’s involvement remain untested. In the eastern area of Donovan 2 property, a north-south grid to collect 55 Metal Mobile Ion (MMI) surface geochemical samples has been designed and work has commenced. “The Company is finalizing an initial 4-to-6 hole program for about 800m to target the Los Alamos and Cerro de la Cruz targets once a review of the current drilling permit status is completed, the MMI results are received and reprocessing of the geophysics are completed to ensure the Company has used every available piece of data to maximize confidence in the drilling program”. 
    • Inomin Mines Inc., filed a NI43-101 technical report for its la Gitana project located in Oaxaca. La Gitana is an advance property where a substantial near-surface, low-sulphidation, epithermal gold-silver mineral system has been outlined. “Previous drilling programs at La Gitana in 2004 – 2006 by Chesapeake Gold Corp., intersected gold-silver mineralization in a core zone 400 to 500m long, 50 to 150m wide and 50 to 300m depth, with grades ranging from 0.25 to 27.8 g/t gold and 5 to 2,330 g/t silver”.  The gold-silver mineralization is open to expansion to the southeast and at depth from drill-tested areas.  Inomine plans to conduct a phase 2 drilling campaign and complete a preliminary resource estimation.

    ON MINING

    • Aura Minerals inc., reported Q2, 2021 production from its Aranzazu mine in Zacatecas. It produced 5,120 Oz Au, 84,263 Oz Ag, and 6.78M Lb Cu for a total of 22,590 GEO (Oz AuEq).
    • First Majestic Silver Corp., reported Q2, 2021 production and financial results from their Mexican mine operations. The table below, shows mine by mine figures:
    MineOre ProcessedTonnes per DayAg Grade (g/t)Au Grade (g/t)Ag RecoveryAu RecoveryAg Oz ProducedAu Oz ProducedAgEq Oz produced
    San Dimas202,3822,2243013.0795%96%1,868,03119,2273,176,725
    Santa Elena234,3812,576811.1793%96%565,4538,4531,140,398
    La Encantada242,8392,6691380.0278%90%840,541102847,502
    TOTAL679,6027,4691671.3289%94%3,27,402527,7825,164,625
    • Altaley Mining Corporation presented Q2, 2021 production and financial results from its Campo Morado mine in Guerrero. The company milled 164.1K tonnes of 1.2 g/t Au, 129 g/t Ag, 1.1% Pb, and 4.5% Zn with metallurgical recoveries of 22%, 46%, 31%, and 74% respectively to produce 11.9K tonnes of Zn concentrate and 2.7K tonnes of Pb concentrate. Altaley reported revenues of USD $13.9M from the sale of Zn concentrates and USD $2.27M for the Pb concentrates for total revenue of USD $16.2M.
    • Golden Minerals Company reported Q2, 2021 production results from its Rodeo mine in Durango.  The company mined 164,954 tonnes from which it processed 49,552 tonnes of 3.6 g/t Au and 10 g/t Ag with metallurgical recoveries of 78% and 83.9% respectively to produce 3,452 Oz Au and 11,225 Oz Ag (3,230 Oz AuEq).
    • Great Panther Mining Limited announced Q2, 2021 production results from their Topia and Guanajuato Mine Complex located in Durango and Guanajuato respectively. At Topia, Durango, the company processed 15,520 tonnes of 432 g/t Ag, 1.07 g/t Au with metallurgical recoveries of 93.5% and 60.3% respectively, to produce 201,339 Oz Ag, 321 Oz Au, 799.7K Lb Pb, and 1.07M Lb Zn (3123K Oz AgEq or 3,674 Oz AuEq. At the Guanajuato Mine Complex, the company processed 40,477 tonnes of 118 g/t Ag and 1.58 g/t Au with metallurgical recoveries of 87.4% and 87.6% respectively, to produce 133K Oz Ag and 1,786 Oz Au (284.9K Oz AgEq or 3,352 Oz AuEq).
    • Gold Resource Corporation released Q2, 2021 production results from its Arista mine in Oaxaca. The company milled 129,590 tonnes from Arista and El Aguila mines with grades of 1.91 g/t Au, 79 g/t Ag, 0.36% Cu, 1.6% Pb, and 3.6% Zn at Arista mine and 2.58 g/t Au and 47 g/t Ag at El Aguila to produced 5.7K Oz Au, 270.3K Oz Ag, 817.6K Lb Cu, 2.7M Lb Pb, and 7.15M Lb Zn.
    • Magna Gold Corp., presented Q2, 2021 production results from its San Francisco mine in Sonora. It mined 1.23M tonnes  of 0.43 g/t Au and processed 1.35M tonnes (all sources) of 0.49 g/t Au to produce 11.7K Oz Au and 8.4K Oz Ag. The company sold 11.8K Oz Au and 8.4K Oz Ag.
    • McEwen Mining Inc., reported that it produced 1,300 Gold Equivalent Oz (GEOs) during Q2, 2021 at its El Gallo project, Sinaloa from residual leaching of the heap leach pad.
    • Mexus Gold US announced that the company will be shipping approximately 1 tonne of activated carbon to USA for processing which is believed to contain 4K grams of Au.

    ON FINANCING

    • Almadex Minerals Ltd., granted stock options to certain directors, employees and consultants to purchase 757,800 common shares at an exercise price of $0.30 per share which expire on July 8, 2023 (El Chato project, Puebla).
    • Azucar Minerals Ltd., granted stock options to certain directors, employees and consultants to purchase 793,800 common shares at an exercise price of $0.11 per share which expire on July 8, 2023 (El Cobre project, Veracruz).
    • Gatos Silver Inc., signed a definitive agreement to retire its attributable portion of the los Gatos JV term loan which is approximately $154.8M, and announced a public offering to sell shares of its common stock to raise funds to achieve a more cost-efficient capital structure, including the potential extinguishment of the Los Gatos Joint Venture’s term loan, and to create additional liquidity in Gatos Silver’s common stock. The company plans to offer 6,500,000 shares of common stock and for certain selling stockholders to offer 1.82M shares of common stock. In addition, Gatos Silver and the selling stockholders intend to grant the underwriters a 30-day option to purchase up to 975K and 273K additional shares of common stock, respectively, at the public offering price, less underwriting discounts and commissions (Los Gatos mine, Chihuahua).
    • One World Lithium announced a non-brokered private placement for gross proceeds of up to CAD $2,025,000. It will allocate the net proceeds as follows: Salar del Diablo Lithium property southern and possible middle portion of the property drilling program CAD $750K; initial lab tests, design of and completing engineer design work for a pilot plant for the company’s critical fluid separation technology CAD $750K and CAD $525K for working capital.  
    • Riverside Resources Inc., informed that it is to receive USD $5.4M in exploration funding from BHP to advance four copper projects as part of the expanding copper exploration program with BHP in Sonora.  The properties to advance are Chuin, Palofierro, Sinoquipe, and Peñitas. Chuin and Palofierro are drill-ready properties, and drilling permits are underway, while Sinoquipe and Peñitas will be subject to Magneto-Telluric surveys which are expected to commence after contractors are secured.  This new funding of at least USD 5.4M is in addition to the USD $1.3M allocated for the next generative phase of exploration work, which began two months ago.
    • Orla Mining Ltd., closed a non-broker prospectus financing for gross proceeds of USD $35M consisting of 9,085,263 common shares priced at CAD $4.75 per common share. Part of the net proceeds will be used for development activities and at its Camino Rojo Oxide Gold Project in Zacatecas, and for general corporate purposes.

    ON RESOURCES AND DEVELOPMENT

    • Discovery Silver Corp., released results from 13 drill holes collared at its flagship Cordero project in Chihuahua. These results are part of the recently completed phase 1 drill program and are going to be incorporated in a new resource estimate in Q3, 2021 and PEA in Q4, 2021. Highlights include hole C21-457 with 1,570 g/t Ag, 16.25 g/t Au, 7% Pb, and 19% Zn (3,934 g/t AgEq) over 1.1m; hole C21-435 with 122 g/t Ag, 0.06 g/t Au, 1.1% Pb, and 1.9% Zn (245 g/t AgEq) over 28.5m, including 1,960 g/t Ag, 0.32 g/t Au, 15.4% Pb, and 21.6% Zn (3,424 g/t AgEq) over 1.1m; hole C21-437 with 87 g/t Ag, 0.05 g/t Au, 0.9% Pb, and 0.8% Zn (157 g/t AgEq) over 58.8m, including 1,480 g/t Ag, 0.22 g/t Au, 13.1% Pb, and 20% Zn (2,789 g/t AgEq) over 1.2m; hole C21-436 with 1,385 g/t Ag, 0.49 g/t Ag, 7.5% Pb, and 10.9% Zn (2,139 g/t AgEq) over 1.4m; hole C21-435 with 385 g/t Ag, 1.15 g/t Au, 5.9% Pb, and 11.9% Zn (1,179 g/t AgEq) over 4.5m; and hole C21-459 with 420 g/t Ag, 0.32 g/t Au, 8.8% Pb, and 14.9% Zn (1,374 g/t AgEq) over 1.3m. In addition, “the company has completed 17,200 m (47 holes) as part of its Phase 2 drill program which will be ongoing through the remainder of the year. Phase 2 drilling will be focused on three key areas: (1) upgrading inferred resources for inclusion in a prefeasibility study; (2) resource expansion of bulk-tonnage mineralization; and (3) testing of the width, grade and continuity of the extensive high-grade vein systems that transect the deposit. There are currently four drill rigs operating on site”.
    • Fabled Silver Gold Corp., announced results from the current ongoing drilling program at its Santa Maria project in Chihuahua. The most significant drill intercept was encountered in hole SM20-20 with 2.5 g/t Au, 32 g/t Ag, 0.6% Pb, 0.5% Zn, and 0.03% Cu (161 g/t AgEq) over 30.7m, including 3.33 g/t Au, 41 g/t Ag, 0.8% Pb, 0.5% Zn, and 0.04% Cu (213 g/t AgEq) over 22.70m, including 5.61 g/t Au, 64 g/t Ag, 1.4% Pb, 0.9% Zn, and 0.06% Cu (353 g7t AgEq) over 11.60m, including 7.24 g/t Au, 80 g/t Ag, 1.9% Pb, 1.1% Zn, and 0.07% Cu (453 g/t AgEq) over 7.24m. “The Company has now completed drill holes SM20-01 to SM20-24 for a total of approximately 6,500 meters of the increased 9,200 meter drill program drilled to date. Hole SM20-25 is currently in progress”.
    • Avino Silver & Gold Mines Ltd., presented results from Phase 1 of the drill campaign, which is looking to add measured and indicated resources to its Avino mine in Durango. The most significant drill intersects on El Trompo Vein were encountered in holes  TR-21-01 with 0.56 g/t Au, 177 g/t Ag,  0.5% Pb, and .7% Zn (577 g/t AgEq) over 0.95m; and hole TR-21-03 with 0.42 g/t Au, 276 g/t Ag, 0.1% Cu, 0.3% Pb, and 0.1% Zn (322 g/t AgEq) over 2.75m. On the Santiago Vein, the most significant drill intercepts was encountered in hole ST-21-04 with 2.62 g/t Au, 643 g/t Ag, 0.25% Cu, 0.3% Pb, and 0.3% Zn (865 g/t AgEq) over 0.8m. On the La Malinche Vein, the best drill intersects were encountered in hole LM-21-04 with 1.68 g/t Au, 252 g/t Ag, 1.17% Cu, 0.9% Pb, and 10.3% Zn (820 g/t AgEq) over 1.4m; and hole LM-21-06 with 1.56 g/t Au, 364 g/t Ag, 2.9% Cu, 0.7% Pb, and 0.06% Zn (786 g/t AgEq) over 0.90m.
    • GoGold Resources Inc., released results from eleven drill holes collared at its Los Ricos North project in Jalisco. Drilling highlights include hole LRGCS-21-047 collared at Casados Area with 0.76 g/t Au and 145 g/t Ag (2.71 g/t AuEq or 203 g/t AgEq) over 22.6m, including 4.31 g/t Au and 864 g/t Ag (15.84 g/t AuEq or 1,188 g/t AgEq) over 2m; and hole LRGCS-21-056 also collared at Casados Area with 0.96 g/t Au and 187 g/t Ag (3.45 g/t AuEq or 259 g/t AgEq) over 45.9m, including 6.17 g/t Au and 1,050 g/t Ag (20.17 g/t AuEq or 1,513 g/t AgEq) over 4.5m, including 13.01 g/t Au and 2,034 g/t Ag (40.12 g/t AuEq or 3,009 g/t AgEq) over 2m, including  19.87 g/t Au and 2,877 g/t Ag (58.23 g/t AuEq or 4,367 g/t AgEq).
    • Golden Tag Resources Ltd., presented results from hole 21-58 drilled at a steep angle toward the southwest to test the top of the Fernandez Zone resource envelope within its San Diego property in Durango. This hole intersected 0.13 g/t Au, 151 g/t Ag, 1.4% Pb, 1.7% Zn and 0.12% Cu (306 g/t AgEq) over a length of 6.55m, plus 0.14 g/t Au, 96 g/t Ag, 1.9% Pb, 1.6% Zn, and 0.07% Cu (258 g/t AgEq) over 16.34 g/t AgEq, plus 0.04 g/t Au, 0.8% Pb, 0.8% Zn, and 0.06% Cu (111 g/t AgEq) over 191.57m. Future drilling will be designed to determine if the grade improvement can be extended to the west and at depth below hole 21-58.
    • IMPACT Silver Corp., informed that it has completed phase 1 of the Veta Negra drilling program in the Zacualpan mining district, State of Mexico. The most significant drill intercept was encountered in hole Z21-05 with 187 g/t Ag0.98 g/t Au, 1.2% Pb, and 2.5% Zn over 13.85m. “The Veta Negra vein system was mined historically as both an open pit and from underground. Two north-northwest trending parallel veins enclosed by stockwork mineralized host rock are currently being mined by IMPACT over widths averaging 14 metres in the open pit”.
    • Kootenay Silver Inc., hired Blue Coast Research to conduct metallurgical testing on its la Negra property in Sonora with the aim to further investigate the best recovery process for La Negra along the path towards an initial mineral resource estimate and a preliminary economic assessment (PEA).
    • Prime Mining Corp., released drill results from the Noche Buena deposit within its Los Reyes project in Sinaloa. Highlights include hole 21NB-06 with 1.29 g/t Au and 61 g/t Ag over a true width (TW) of 28.9m , including5.74 g/t Au and 108 g/t Ag over a TW of 3.6m; hole 21NB-09 with 2.89 g/t Au and 62 g/t Ag over a TW of 8.4m, including 18 g/t Au and 209 g/t Ag over a TW of 1.2m; hole 21NB-08 with 1.23 g/t Au and 28 g/t Ag over a TW of 8.9m, including 6.08 g/t Au and 91 g/t Ag over a TW of 0.9m; hole 21NB-10 with 0.7 g/t Au and 28 g/t Ag over a TW of 15.6m, including 3.73 g/t Au and 109 g/t Ag over a TW of 0.9m; hole 21NB-05 with 0.77 g/t Au and 48 g/t Ag over a TW of 2.9m, including 2.67 g/t Au and 140 g/t Ag over a TW of 0.4m; hole 21NB-11 with 1 g/t Au and 18 g/t Ag over a TW of 5.2m;and hole 21NB-07 with 0.65 g/t Au and 21 g/t Ag over 10.4m. “The Noche Buena deposit remains open at depth and further along strike”.
    • Silver Tiger Metals Inc., announced that it continue intersecting high grade mineralization at its El Tigre project in Sonora. Highlights from the ongoing drilling program include hole ET-21-231, collared at the Sooy Vein with 303 g/t Ag, 0.11 g/t Au, 0.13% Cu, 0.8% Pb, and 0.7% Zn (369 g/t AgEq) over 10.8m, including 801 g/t Ag, 0.35 g/t Au, 0.71% Cu, 3.1% Pb, and 2.8% Zn (2,063 g/t AgEq) over 0.5m, and 125 g/t Ag,  0.17 g/t Au, 0.06% Cu, 0.5% Pb, and 0.7% Zn (180 g/t AgEq) over 21.9m, including 534 g/t Ag, 0.09 g/t Au, 0.2% Cu, 2.4% Pb, and 4% Zn (749 g/t AgEq) over 1.5m; and hole ET-21-235 collared at the Benjamin Vein with 89 g/t Ag, 0.1 g/t Au, 0.12% Cu, 0.8% Pb, and 1.1% Zn (161 g/t AgEq) over 6.3m, including 391 g/t Ag, 0.13 g/t Au, 0.56% Cu, 3.6% Pb, and 4.4% Zn (686 g/t AgEq) over 1m.

     ON DEALS AND CORPORATE ISSUES

    • No relevant news.

    ON SOCIAL RESPONSIBILITY

    • Grupo México donated 8,000 native trees to Hermosillo, Sonora. The procedures to request the specimens began six months ago through the civil association Actions for a Better World by Karina López Ivich, who is the director and also climate leader of Climate Reality.
    • The Government of Zacatecas along with representatives of the mining companies Fresnillo plc and Capstone Gold began with the Tree Donation Program. Mining companies settled in the entity, has set a goal of delivering 10 thousand trees with the commitment to plant them in suitable places, carry out the necessary care and maintenance and guarantee their survival.

    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 volcanic-hosted epithermal vein-breccia from a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia.

    The Mining and Exploration News in Mexico: Highlights on the Fourth Week of June, 2021

    By Jorge Cirett

    During the 25th week of the year (June 21st to June 28th, 2021), at least 34 press releases were announced by companies working in Mexico. To note, seven companies posted exploration advances on their properties, six posted on financing, warrants extension, options distribution or option payments received, eight more on project development or resource definition and four posted on deals or corporate issues. ON MEXICO ISSUES, there is a new illegal blockade at Los Filos in Guerrero. Canadian Mining companies are suffering the results of the asylum provided by Canada to Mexican union leader Napoleon Gómez Urrutia. ON EXPLORATION, in Sonora, Riverside is receiving funding for exploration of five properties; Ridgestone released surface sample results from Rebeico; Colibri completed an IP survey on Evelyn. In Chihuahua, Kootenay is to rehabilitate underground workings at Columba. In Sinaloa, GR Silver initiated a drilling campaign in the Rosario district. In Durango, Mithril intersected bonanza grade mineralization in drill holes at Copalquin. In Jalisco, Xali Gold identified targets at its Tepic project. ON MINING, Mexus Gold produced some gold at Santa Elena in Sonora. Fresnillo paid US$176.2 M in taxes to the Mexican government in 2020. Santacruz Silver reported a fatality at is Rosario mine in San Luis Potosi. ON FINANCING, Reyna Silver, Wealth Minerals and Southern Silver reported on financing rounds for C$6.06 M, $675 K and $3 M respectively. Vizsla Silver granted options, Radius Gold received $400 K as payment from Pan American Silver related to an earn-in agreement on the Amalia project. Advance Gold extended the expiry date of some warrants. ON RESOURCES AND DEVELOPMENT, Guanajuato Silver informed on advance at getting the El Cubo and Pinguico mines back to production. Minera Alamos informed construction has been completed at Santana, in Sonora. Fabled Silver Gold released drilling results from Santa Maria, in Chihuahua. Discovery Silver released results from drilling targeting bulk mining mineralization at Cordero, in Chihuahua. Vizsla Silver released interesting drilling results from Panuco, in Sinaloa. Silver Dollar signed a surface access agreement at La Joya, in Durango. Oroco Resources received the environmental permit to drill at Santo Tomas, in Sinaloa. ON DEALS AND CORPORATE ISSUES, Vizsla Silver is to spin a Canadian copper asset, forming Vizsla Copper. Fortuna Silver and Roxgold received a recommendation for their business combination. David Jones is on Benjamin Hill as a technical advisor. Orogen Royalties is to trade on the OTCQX ON SOCIAL RESPONSIBILITY, Peñoles, Fresnillo PLC, the Chihuahua Mining cluster and Minera Peñasquito informed on actions the companies realize to help communities and the environment. Great Panther published its sustainability report. Newmont launched its Climate Strategy Report.

    ON MEXICO ISSUES

    • Equinox Gold Corp. informed an illegal blockade has temporarily suspended mining activities at Los Filos, Guerrero. the illegal blockades are led by “a group of unionized employees and members of the Xochipala community, both of whom are demanding payments in excess of their contractual agreements.
    • Americas Gold & Silver continues its fight against Napoleón Gómez Urrutia union. The company has had its San Rafael mine in Cosalá, Sinaloa, under siege for 18 months by the section 333 of the Sindicato de Trabajadores Mineros, Metalurgicos, Siderurgicos y Similares de la República Mexicana (the union led by Napoleón Gómez Urrutia). The company asked the Canadian government for help on what they see as an illegal blockade disguised as a dispute for the Union to control the company’s personnel collective contract (speaking of retribution, Canadian Mining companies are paying for the asylum Canada provided to the Union leader, and are set to pay dearly if do not fight back).

    ON EXPLORATION

    • Riverside Resources Inc. informed BHP is funding exploration in five projects in Sonora, acquired under the BHP-Riverside Exploration Funding Agreement. A total of US$1.3 M over two years was allocated for generative funding, with an additional US$1 M in specific work programs. Riverside anticipates two projects will see a maiden drill campaign on 2021, of five under evaluation. The Chuin and Palofierro projects are the most advanced, while Sinoquipe, Penitas and Montosa projects are to follow suite. Magneto-teluric (MT) and gravity geophysics, green-mineral, whole rock and prospecting are being used for vectoring and district evaluations.
    • GR Silver Mining Ltd. initiated a 14,000 m exploration drill program in the Rosario district in Sinaloa.  Seven drill rigs are being mobilized to dill vein systems covering a combined 75 km strike length of the Plomosas, San Marcial and La Trinidad project areas. Some of the targets include the GAP area, Loma Dorada structure.
    • Xali Gold Corp. identified drill targets that can extend known mineralization at its Cocula project in Jalisco. These drill targets were identified on a 3D model, and are designed to test potential extensions to previously defined zones. The project displays two styles of mineralization, gold-silver as dissemination in oxidized breccias near surface and higher-grade gold silver and base metals in structures containing stockwork quartz veining.
    • Ridgestone Mining Inc. released assay results from sampling on recent mapping at its Rebeico project in Sonora. Sampling at El Cobre mine returned up to 1.0 m @ 3.5% Cu, 0.32 gpt Au, 32 gpt Ag, 0.136% Mo on the main structure. Regional mapping returned up to 1.2 m @ 1.06% Cu, 2.40 gpt Au, 6 gpt Ag in a quartz vein and 1.5 m @ 0.08% Cu, 3.45 gpt Au in a breccia. “The El Cobre mine was put into production by Asarco during the sixties and was developed on two levels, with the upper level having over 230 metres of drift development and the lower level having over 100 metres long of drift development at a depth of 180 metres below surface. The main structure, with widths varying from 1 to 5 metres, has been emplaced within a granodiorite intrusive and remains open along strike and at Depth”.
    • Kootenay Silver Inc. announced the signing of a contract with Tlasa Obras Mineras S. de R.L. de C.V. to rehabilitate the historic underground workings of the F vein at the Coulmba project in Chihuahua. Work is expected to take four months.
    • Colibri Resource Corp. reported the completion of the previously announced IP survey at Evelyn, in Sonora. The IP survey consisted of 38-line km of 3D-IP covering the eastern half of the Evelyn project. “…the highest chargeability response is spatially associated with the Main Zone within the Cerro Rojo target area…. the Company has decided to extend the IP survey to the western boundary thus completing 3D IP coverage over most of the property”.
    • Mithril Resources Ltd. released drill results from its Copalquin project in Durango. Highlighted core length results comprise: 6.8 m @ 74 gpt Au, 841 gpt Ag (including 2.1 m @ 235 gpt Au, 2,554 gpt Ag); 4.61 m @ 1.87 gpt Au, 89 gpt Ag; 7.60 m @ 2.34 gpt Au, 144 gpt Ag; 1.0 m @ 2.64 gpt Au, 167 gpt Ag; 6.0 m @ 1.41 gpt Au, 66 gpt Ag; 1.80 m @ 2.38 gpt Au, 53 gpt Ag; 1.05 m @ 2.36 gpt Au, 95 gpt Ag; 0.50 m @ 28.9 gpt Au, 471 gpt Ag; 1.66 m @ 2.41 gpt Au, 153 gpt Ag. Drilling continues along El Refugio structure, and soil sampling is in progress to define the structure a further 1.3 km to the west.

    ON MINING

    • Mexus Gold US. informed its Santa Elena mine in Sonora produced 20 Oz Au last week and confirmed the presence of 30 ounces more on the activated carbon cells.
    • Fresnillo PLC. presented a report on the payments to the governments of Mexico, Chile and Peru. In Mexico, Fresnillo paid US$ 139.3 M in taxes, US$1.48 M in royalties and US$35.4 M in concession fees, for a total of US$176.2 M.
    • Santacruz Silver Mining Ltd. reported a fatality at its Rosario project in San Luis Potosi. ”The accident took place at the Membrillo mine as a result of a rock fall”.

    ON FINANCING

    • Vizsla Silver Corp. granted 4.15 M options to directors, officers, employees and consultants (Panuco, Sinaloa).
    • Reyna Silver Corp. has over-sold the offering and completed a brokered private placement for gross proceeds of C$6.06 M (GuiGui, Chihuahua).
    • Radius Gold Inc. reported that Pan American Silver, its joint venture partner in at the Amalia project in Chihuahua, has paid a scheduled US$400 K property payment to Radius, and plans further drilling at the project. “Exploration completed at Amalia includes 31 holes for 10,588m of diamond core drilling, primarily at the San Pedro zone on the Amalia structure. The next targets to be drill tested are El Cuervo…. and at California”.
    • Wealth Minerals Ltd. closed the second tranche of the placement, for gross proceeds of $675 K (Coronado, Chihuahua).
    • Southern Silver Exploration Corp. closed the non-brokered private placement financing for gross proceeds of $3 M (Cerro Las Minitas, Durango).
    • Advance Gold Corp.  applied to the TSX Venture Exchange to extend the expiry date on 3.08 M share purchase warrants issued pursuant to the private placement financing in July 2019, by one year, to July 9, 2022 (Tabasqueña, Zacatecas).

    ON RESOURCES AND DEVELOPMENT

    • Guanajuato Silver Company Ltd. informed on staffing mill and mine refurbishment at El Cubo, Guanajuato. Also the company is doing metallurgical studies on El Cubo and Pinguico deposits.
    • Minera Alamos Inc. informed all construction has now been completed at Santana, in Sonora. “All construction has now been completed with the full leach pad now lined and available for stacking….. First loading of mined material from the Nicho Norte pit commenced earlier this month …in preparation for the commissioning of leach operations around the end of the June”.
    • Fabled Silver Gold Corp. released drilling results from its ongoing campaign at Santa Maria, Chihuahua. Highlighted core length results comprise 10.50 m @ 0.38 gpt Au, 31 gpt Ag, 0.2% Pb, 1.0% Zn Cu (including 1.20 m @ 1.37 gpt Au, 51 gpt Ag, 0.6% Pb, 4.2% Zn); 27.50 m @ 0.19 gpt Au, 20 gpt Ag (including 1.20 m @ 0.52 gpt Au, 163 gpt Ag, 0.3% Pb, 1.0% Zn); 19.65 m @ 0.44 gpt Au, 52 gpt Ag, 0.3% Pb, 0.6% Zn (including 7.90 m @ 0.74 gpt Au, 104 gpt Ag, 0.5% Pb, 1.2% Zn); 1.00 m @ 0.33 gpt Au, 322 gpt Ag, 0.3% Pb, 0.4% Zn.
    • Discovery Silver Corp. released results from 12 drill holes targeting bulk-mining mineralization at its Cordero project in Chihuahua. Highlighted results comprise 65.9 m @ 69 gpt Ag, 0.11 gpt Au, 0.7% Pb, 3.7% Zn; 143 m @ 39 gpt Ag, 0.13 gpt Au, 0.4% Pb, 1.3% Zn; 59.5 m @ 54 gpt Ag, 0.08 gpt Au, 0.9% Pb, 1.5% Zn; 86.0 m @ 33 gpt Ag, 0.17 gpt Au, 0.3% Pb, 1.2% Zn; 82.3 m @ 44 gpt Ag, 0.06 gpt Au, 0.7% Pb, 1.5% Zn; 59.4 m @ 48 gpt Ag, 0.06 gpt Au, 1.0% Pb, 2.0% Zn; 48.9 m @ 85 gpt Ag, 0.08 gpt Au, 0.6% Pb, 1.1% Zn.
    • Vizsla Silver Corp. provided results for fourteen holes from the Napoleon prospect at the Panuco project in Sinaloa. Highlighted true width results comprise 3.73 m @ 2.85 gpt Au, 105 gpt Ag, 0.7% Pb, 1.4% Zn; 2.62 m @ 5.51 gpt Au, 476 gpt Ag, 1.5% Pb, 1.1% Zn; 8.36 m @ 5.58 gpt Au, 372 gpt Ag, 0.2% Pb, 0.9% Zn (including 2.31 m @ 18.88 gpt Au, 1,306 gpt Ag, 0.7% Pb, 2.1% Zn; 3.21 m @ 0.94 gpt Au, 30 gpt Ag, 0.1% Pb, 0.9% Zn; 3.45 m @ 1.81 gpt Au, 43 gpt Ag, 0.3% Pb, 1.2% Zn; 11.34 m @ 3.11 gpt Au, 88 gpt Ag, 0.3% Pb, 2.1% Zn; 4.87 m @ 3.70 gpt Au, 112 gpt Ag, 0.3% Pb, 1.5% Zn.
    • GoGold Resources Inc. informed on results from seven drill holes from El Favor deposit at its Los Ricos North project in Jalisco. Highlighted core length results comprise: 15.0 m @ 0.41 gpt Au, 136 gpt Ag (including 6.4 m @ 0.80 gpt Au, 258 gpt Ag); 20.6 m @ 0.13 gpt Au, 44 gpt Ag; 10.6 m @ 0.09 gpt Au, 38 gpt Ag; 6.5 m @ 0.17 gpt Au, 81 gpt Ag; 63.7 m @ 0.11 gpt Au, 47 gpt Ag (including 9.1 m @ 0.54 gpt Au, 186 gpt Ag); 61.3 m @ 0.56 gpt Au, 243 gpt Ag (including 9.3 m @ 2.06 gpt Au, 973 gpt Ag); 9.4 m @ 0.10 gpt Au, 45 gpt Ag; 6.8 m @ 0.12 gpt Au, 136 gpt Ag; 4.8 m @ 0.25 gpt Au, 88 gpt Ag; 14.4 m @ 0.17 gpt Au, 49 gpt Ag; 35.2 m @ 0.17 gpt Au, 43 gpt Ag. “Three of the four major veins (Salomon, Guitarrillas and Los Chivos) appear to converge into a 100m wide zone at the western end of the El Favor deposit in the vicinity of the Hundido Pit….”.
    • Silver Dollar Resources Inc. entered into a formal surface access agreement with the ejido Noria de Pilares, at its La Joya project in Durango.
    • Oroco Resources Corp. received approval by SEMARNAT to conduct a drilling program at its Santo Tomas project in Sinaloa. The permit allows for 46 drill locations to test the Brasiles gossan zone and the Western blind target, both supported by a 3D IP survey, and nine drill locations on the North zone for confirmation and expansion drilling.

    ON DEALS AND CORPORATE ISSUES

    • Vizsla Silver Corp. informed on the approval of the proposed plan of arrangement on which Vizsla Silver is to spin-out its British Columbia exploration assets to Vizsla Copper Corp. (Panuco, Sinaloa).
    • Fortuna Silver Mines Inc. and Roxgold Inc. informed two leading proxy advisory firms have recommended that both Fortuna and Roxgold shareholders vote for the proposed business combination (San Jose, Oaxaca).
    • Benjamin Hill Mining Corp. announced the appointment of David M. Jones, M.Sc., as technical advisor to the company (Sonora Gold, Sonora).
    • Orogen Royalties Inc. announced its shares have been qualified to trade on the OTCQX Best Market (Ermitaño, Sonora).

    ON SOCIAL RESPONSIBILITY

    • Peñasquito informed its water purification plant in Cedros has increased its capacity to 400 cubic meters per day. The community, which doubled its population since the development of the mine, receives the water at no cost. There are two other water purification plants run by the company at the Mesas and Charcos communities.
    • Greath Panther Mining published its 2020 sustainability report, describing its safety performance, Covid prevention, zero sanctions, decrease in water consumption, community engagement, gender opportunities and diversity policy.
    • The Chihuahua Mining Cluster is aiding in the community effort to extinguish forest fires in the Sierra Madre.
    • Newmont Corp. launched its first Climate Strategy Report, which outlines the Company’s climate-related risks and opportunities, strategic planning, and pathways to achieving climate targets.
    • Industrias Peñoles informed on the reforestation effort with native species in La Laguna region (Coahuila-Durango).
    • Peñoles and Fresnillo PLC are to support micro business and auto-development economic proyects in Caborca, Sonora.

    On the image below:  Sheeted quartz veining in granodioritic intrusive rocks in Sinaloa. Picture by Jorge Cirett.

    The Mining and Exploration News in Mexico: Highlights on the Third Week of June, 2021.

    Quartz Vein-Breccia

    By Miguel A Heredia

    During the 24th week of the year (June 14th to June 20th, 2021), at least 15 press releases were announced by companies working in Mexico and 6 news published by the media, with seven reporting on resources and developments, five informing on exploration results, four commenting on Mexican issues, two announcing financial rounds, two discussing social issues, and one disclosing deals and corporate issues.  ON MEXICO ISSUES, Dhipna Yanssen Weichselbaum, head of the Federal Programs in Baja California explained that 12,000 people will be consulted in Mulegé to carry out the consultation of El Boleo. The Argentine Embassy in Mexico along with the Ministry of Mining of that country carried out a working seminar with the Mexican company Baluarte Minero (Industrias Peñoles and Fresnillo PLC). The consultation for the nationalization of lithium, proposed by President Andrés Manuel López Obrador, is not necessary, since, it is already owned by Mexico. ON EXPLORATION, In Sonora, Tocvan and its JV partner Colibri reported drill results from its the El Pilar project, and Tarachi started a second drilling program on its San Javier mining concession at La Colorada gold bearing breccia pipe. In Chihuahua, Mammoth reported results from an additional 1.7km of 3D geophysical modeling conducted at its Tenoriba project. In Nayarit, Sierra Madre provided an update on the activities developed at its Tepic project. ON MINING, no relevant news. ON FINANCING, Azucar granted stock options to certain directors and officers of the company (El Cobre project, Veracruz). Advance Gold closed a private placement financing for gross proceeds of $200K (Tabasqueña project, Zacatecas). ON RESOURCES AND DEVELOPMENT, Almaden completed a surface induced polarization geophysical (IP) program at its Ixtaca project in Puebla. GoGold released results from eight drill holes collared at its Los Ricos project in Jalisco. Silver Viper filed on SEDAR a NI 43-101 technical report supporting the maiden mineral resource estimate for its La Virginia project in Sonora. Torex released an updated mineral resource estimate for its media Luna project in Guerrero. Zacatecas Silver announced positive preliminary metallurgical test results from its Zacatecas Silver property. Excellon filed on SEDAR an independent NI 43-101 technical report for its La Platosa mine in Durango. Ridgestone announced that it filed on SEDAR a NI 43-101 technical report for its Guadalupe y Calvo project in Chihuahua.    ON DEALS AND CORPORATE ISSUES, SilverCrest presented results of its annual general meeting of shareholders (Las Chispas project, Sonora).    ON SOCIAL RESPONSIBILITY, Peñoles community center received population from 40 to 49 years for anticovid vaccine in Torreón. Peñoles and Fresnillo plc announced that they are training young Mexicans in seven states.

    ON MEXICO ISSUES

    • Dhipna Yanssen Weichselbaum, head of the Federal Programs in Baja California explained that 12,000 people will be consulted in Mulegé to carry out the consultation of El Boleo. the procedure will consist of 2 phases: one is the publication of the call to know the expansion of the MIA project and then the citizen consultation that will take place in the communities of Santa Rosalía and San Ignacio, among others, which are related to the El Boleo mining company.
    • The Argentine Embassy in Mexico along with the Ministry of Mining of that country carried out a working seminar with the Mexican company Baluarte Minero (Industrias Peñoles and Fresnillo PLC). The group’s interest was particularly focused on the provinces of Neuquén, Rio Negro, Salta, Mendoza and San Juan, where Mexican businessmen expressed their intention to evaluate the possibility of investing in mining projects in the region. Technical experts and professionals from Baluarte Minero were informed about prospects for gold, silver, copper, potassium and lithium in Argentina.
    • According to experts of the Association of Mining Engineers, Metallurgists and Geologists of Mexico (AIMMGM), the consultation for the nationalization of lithium, proposed by President Andrés Manuel López Obrador, is not necessary, since, it is already owned by Mexico. Article 27 of the constitution clearly states that all mineral deposits that are in Mexican territory are property of the Nation, so it would not be necessary to nationalize lithium.

    ON EXPLORATION

    • Tocvan Ventures Corp., and its JV partner Colibri Resource Corporation reported drill results from four RC holes collared at its the El Pilar project in Sonora. Highlights includes a drill intersection of 0.66 g/t Au over a length of 35.1m in hole JES-21-43 drilled at the Main Zone. This drill intercept includes 1.7 g/t Au over 13.7m, including 6.8 g/t Au and 7 g/t Ag over 3.1m. Tocvan is currently completing 3,500m of RC drilling in 20 holes comprising its Phase II program at Pilar. Thirteen RC holes are still pending of assay results.
    • Tarachi Gold Corp., started a second drilling program on its San Javier mining concession at La Colorada gold bearing breccia pipe. The plan is to drill four holes down-dip of the breccia pipe to test the continuity of the positive results encountered from the 2020 drill program performed at the property, which returned high grade intersections.
    • Mammoth Resources Corp., reported results from an additional 1.7km of 3D geophysical modeling conducted at its Tenoriba project in Chihuahua. “This additional 3D modelling shows similar strong correlation between IP/Mag  geophysical features and anomalous surface gold-in-soil, chips and channel samples together with numerous gold intervals in diamond drilling and extends these coincident features over this additional 1.7Km of a total of 4km of IP/Mag coverage over a larger 6km east-west trend of surface gold-silver mineralization at Tenoriba”.
    • Sierra Madre Gold and Silver Ltd., provided an update on the activities developed at its Tepic project in Nayarit. The company has already drilled over 80% of the 2,000m and is expected to be completed soon. This is part of the 20 RC holes panned for its phase 1 drilling program. RC drill results will be released once assaying is completed. Sierra Madre is preparing new drill permits to conduct a Phase 2 drill program for additional 100-200 holes. The company also has commenced a 2,700m Phase 1 trenching program for the central project area. It will help to provide information to consider designing the Phase 2 drill program. The company also announced that, mapping and sampling continue in the northern and eastern project areas with an emphasis on prospecting arroyos and creek beds for signs of mineralization.

    ON MINING

    • No relevant news.

    ON FINANCING

    • Azucar Minerals Ltd., granted stock options to certain directors and officers of the company to purchase an aggregate of 413K common shares at an exercise price of $0.13 per share which expire on June 14, 2023 (El Cobre project, Veracruz).
    • Advance Gold Corp., closed a private placement financing for gross proceeds of $200K. The company plans to use the proceeds to advance their lithium-potassium boron prospective salars in central Mexico and for general corporate purposes.

    ON RESOURCES AND DEVELOPMENT

    • Almaden Minerals Ltd., completed a surface induced polarization geophysical (IP) program at its Ixtaca project in Puebla. The IP results are being processed and combined with geological, geochemical and geophysical data collected in the past to outline drill targets beneath the Southeast Alteration Zone and at depth beneath the Ixtaca deposit.
    • GoGold Resources Inc., released results from eight drill holes collared at the Casados deposit at its Los Ricos North project in Jalisco. The most significant drill intersection was encountered in hole LRGCS-21-043 with 0.12 g/t Au and 270 g/t Ag (3.72 g/t AuEq or 279 g/t AgEq) over 0.9m, plus 0.46 g/t Au and 135 g/t Ag (2.25 g/t AuEq or 169 g/t AgEq) over 0.46m, plus 0.43 g/t Au and 132 g/t Ag (2.19 g/t AuEq or 164 g/t AgEq) over 33.6m, including 0.88 g/t Au and 270 g/t Ag (4.48 g/t AuEq or 336 g/t AgEq) over 15.3m, including 1.78 g/t Au and 539 g/t Ag (8.97 g/t AuEq or 673 g/t AgEq) over 6.7m, including 3.77 g/t Au and 930 g/t Ag (16.17 g/t AuEq or 1,213 g/t AgEq) over 1.9m.
    • Silver Viper Minerals Corp., filed on SEDAR a NI 43-101 technical report supporting the maiden mineral resource estimate for its La Virginia project in Sonora. El Rubi Zone contains an indicated resource of 6,179,000 tonnes of 0.78 g/t Au and 35 g/t Ag for 154.3K Oz Au and 6.93M Oz Ag, and inferred resources of 3,255,000 tonnes of 0.9 g/t Au and 36 g/t Ag for 94.1K Oz Au and 3.75M Oz Ag in open pit category. Virginia, El Oriental, Las Huatas and Las Huatas South add and inferred resource of 6,622,000 tonnes of 0.71 g/t Au and 41 g/t Ag for 152.2K Oz Au and 8.74M Oz Ag in open pit category, and 277K tonnes of 1.92 g/t Au and 62 g/t Ag for an additional 14K Oz Au and 451.5K Oz Ag in the underground category. Gold and Silver Equivalents for Indicated resource equal 253,286 Oz AuEq or 17,730,000 Oz AgEq. Gold and Silver Equivalents for Inferred resource equal 445,176 Oz AuEq or 31,162,300 Oz AgEq.
    • Torex Gold Resources Inc., released an updated mineral resource estimate for its media Luna project in Guerrero. Torex reported indicated resources for 20.9M tonnes of 3.21 g/t Au, 32 g/t Ag, and 1.07% Cu (5.27 g/t AuEq) to contain 2.15M Oz Au, 21.3M Oz Ag, and 492M Lb Cu (3.54M Oz AuEq), and inferred resources for 18.9M tonnes of 2.11 g/t Au, 28 g/t Ag, and 1.04% Cu (4.08 g/t AuEq) to contain 1.28M Oz Au, 17.1M Oz Ag, and 431M Lb Cu (2.48M Oz AuEq).
    • Zacatecas Silver Corp., announced positive preliminary metallurgical test results from its Zacatecas Silver property, for both bulk flotation and sequential flotation recovery options,  with the bulk floatation flow-path producing a single gold, silver, lead and zinc rougher concentrate (15 minutes of floatation and 23% mass pull) with 697 g/t silver, 0.97 g/t gold, 1.67% zinc and 0.58% lead and recovering 96.2 % of the silver, 93.6% of the gold, 96.5% of the zinc and 92.1 % of the lead.
    • Excellon Resources Inc., filed on SEDAR an independent NI 43-101 technical report. This technical report documents a mineral resource statement for the Platosa Mine in Durango. The company reported measured + indicated resources for 317K tonnes of 485 g/t Ag, 5.3% Pb, and 5.5% Zn to contain 4.9M Oz Ag, 36.79M Lb Pb, and 38.78M Lb Zn, and inferred resources for 42K tonnes of 749 g/t Ag, 4.3% Pb, and 5.4% Zn to contain 1M Oz Ag, 4M Lb Pb, and 5M Lb Zn.
    • Ridgestone Mining Inc., announced that it filed on SEDAR a NI 43-101 technical report to support the maiden mineral resource estimate for its Guadalupe y Calvo project in Chihuahua. Ridgestone reported indicated resources for 6,427,444 tonnes of 50 g/t Ag and 1.05 g/t Au (1.72 g/t AuEq) to contain 10.43M Oz Ag and 217K Oz Au (356K Oz AuEq), and inferred resources for 3,074,146 tonnes of 94 g/t Ag and 3.4 g/t Au (4.65 g/t AuEq) to contain 9.3M Oz Ag and 335.6K Oz Au (460K Oz AuEq).

    ON DEALS AND CORPORATE ISSUES

    • SilverCrest Metals Inc., presented results of its annual general meeting of shareholders held in Vancouver, BC, Canada (Las Chispas project, Sonora). 

    ON SOCIAL RESPONSIBILITY

    • Industrias Peñoles S.A.B. de C.V., community center received population from 40 to 49 years and pregnant women of more than nine weeks of gestation for anticovid vaccine in Torreón. The inoculation is carried out by personnel of the General Hospital of the Zone from the Mexican Social Security Institute  # 18 (IMSS) as well as nurses from said mining company.
    • Industrias Peñoles S.A.B. de C.V., and Fresnillo plc announced that they are training young Mexicans in seven states. Both companies recognize that education plays an important role in people’s lives, because it provides them with new tools that contribute to improve their quality of life. In this sense, they teach specialized courses for girls, children and young people in various areas such as science, technology, engineering, human development, health, entrepreneurship and children’s literacy, among others.

    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 quartz vein-bx in a low sulphidation epithermal system in a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia.

    The Mining and Exploration News in Mexico: Highlights on the First Week of June, 2021.

    Quartz Blade Texture

    By Miguel A Heredia

    During the 22nd week of the year (May 31st to June 06th, 2021), at least 24 press releases were announced by companies working in Mexico and 1 news published by the media, with six disclosing deals and corporate issues, six announcing financial rounds, five informing on exploration results, four reporting on resources and developments, three discussing social issues, and one communicating production and financial results.  ON MEXICO ISSUES, No relevant news.  ON EXPLORATION, In Sonora, Benjamin Hill Mining released additional sampling results from its Benjamin Hill property, Silver Spruce and its JV partner Colibri commenced the phase 1 exploration drilling at its Mezquite project, and Heliostar presented results from its mapping and sampling program at its Oso Negro project. In Zacatecas, Zacatecas Silver completed the geological mapping and sampling program of the San Manuel Vein System. ON MINING, Santacruz reported Q1, 2021 production and financial results from their Zimapan and Rosario mines in Hidalgo and San Luis Potosi States respectively. ON FINANCING, Alamos Gold declared quarterly dividend of USD $0.025 per common share (Mulatos mine, Sonora). Chesapeake reported that it granted 73,500 incentive stock options at an exercise price of $4.37 per share (Metates project, Durango). Colibri announced that its previously announced private placement has been oversubscribed for an additional 399,139 units at $.10 per unit (El Pilar project, Sonora). Silver Viper closed the first tranche of a $6M private placement for gross proceeds of $4.57M (La Virginia project, Sonora).  VanGold signed a definitive agreement to obtain a non-dilutive USD $7.5M in the form of a silver and gold loan (El Cubo mine, Guanajuato). Vizsla closed a bought deal financing offering for gross proceeds of CAD $69M (Panuco project, Sinaloa). ON RESOURCES AND DEVELOPMENT, Barksdale outlined a 5,000m drilling program at its San Javier project in Sonora. GoGold released results from six holes collared at its Los Ricos North project in Jalisco. Oroco presented results from the 3D IP survey conducted at its Santo Tomas project in Sinaloa. Sonoro completed the nine final RC holes at its Cerro Caliche project in Sonora and moves towards an updated technical report and new PEA. ON DEALS AND CORPORATE ISSUES, Capstone announced the resignation of a member of its Board of Directors (Cozamine mine, Zacatecas). VanGold announced that it will change its name to Guanajuato Silver Company, Ltd. (El Cubo mine, Guanajuato). Gatos Silver announced the appointment of its President and CEO, effective June 1, 2021 (Los Gatos mine, Chihuahua). Great Panther appointed its new CFO and COO (Topia mine, Durango). First Majestic released results from its annual general meeting of shareholders (San Dimas property, Durango).  Fortuna Silver provided an update of the legal dispute against the Mexican Geological Survey (SGM) if the royalty in one of its claims at San Jose mine in Oaxaca is not paid.  ON SOCIAL RESPONSIBILITY, Minera Alamos released its 2020 Environmental, Social, and Corporate Governance (ESG) Report (Mulatos mine, Sonora).  Grupo México delivered seed capital for productive and social projects in the community of Sombrerete, Zacatecas. Newmont Corporation launched its 2020 Annual Sustainability Report.

    ON MEXICO ISSUES

    • No relevant news.

    ON EXPLORATION

    • Benjamin Hill Mining Corp., released additional assays from 45 samples collected at the new La Salada East Area within its Benjamin Hill property in Sonora. Chip samples returned multiple results ranging from 1 g/t Au to 3.8 g/t Au with peaks of 10 g/t Au and 10.1 g/t Au. Gold values are associated with quartz veining and quartz breccias often with chalcopyrite, galena and hematite, limonite and “boxwork” pyrite. These results extend the known gold mineralization previously reported. The company also announced that it is finalizing drill program planning to test the most prospective targets generated to date and expects to receive drill permits in early June.
    • Silver Spruce Resources Inc., and its JV partner Colibri Resource Corporation commenced the 2,000m phase 1 exploration RC drilling at its Mezquite project in Sonora. Six holes are planned to drill test an area of 400m by 600m with elevated values to 3.41 g/t Au and 387 g/t Ag.
    • Heliostar Metals Limited presented results from its mapping and sampling program at its Oso Negro project in Sonora. High grade channel samples defined drill targets at the Prospecto Vein zone including 5.14 g/t Au, 953 g/t Ag, 1% Pb, and 1.9% Zn (1,428 g/t AgEq) over 1.2m; 2.55 g/t Au, 346 g/t Ag, 0.4% Pb, and 1.2% Zn (588 g/t AgEq) over 1.8m; and 3.29 g/t Au, 89 g/t Ag, 0.2% Pb, and 0.6% Zn (362 g/t AgEq) over 2.4m. This target has a length of 360m of strike, and has a weighted average grade of 420 g/t AgEq over and average width of 1.3m. Heliostar also announced the stacking of a new claim, Angel de Plata 2, increasing its land position to 120 square kilometers. Two new vein corridors have been discovered on the new claim with mine dump samples from historic workings up to 1,810 g/t AgEq.
    • Zacatecas Silver Corp., completed the first pass of its geological mapping and sampling program on the San Manuel Vein System. The company defined eight sets of oxidized, silver-base metal mineralized veins for over at least 3 km in length, with a dilation zone that is at least 600m wide. This extensional zone represents robust drill targets. The company has already commenced an environmental study at San Gill-San Manuel, concurrent with planning of first phase drilling at this target, which should be completed within 4 weeks.

    ON MINING

    • Santacruz Silver Mining Ltd., Santacruz reported Q1, 2021 production and financial results from their Zimapan and Rosario mines in Hidalgo and San Luis Potosi states respectively.  At Zimapan, Hidalgo, the company processed 156, 433 tonnes to produce 646K Oz AgEq at cash and AISC of USD $19.91 and USD $27.19 per Oz AgEq respectively. At Rosario, San Luis Potosi, Santacruz processed 19,806 tonnes to produce 60.9K Oz AgEq at cash and AISC of USD $27.19 and USD $52.57 respectively. The company reported consolidated revenues of USD $11.1M, gross profit of USD $2.2M, EBITDA of USD $983K, and cash and marketable securities of USD $6.8M (Zimapan and Rosario mines in Hidalgo and San Luis Potosi respectively).

    ON FINANCING

    • Alamos Gold Inc., declared quarterly dividend of USD $0.025 per common share. The company also implemented a dividend reinvestment plan. It gives the shareholders the option of increasing their investment by electing to receive common shares instead of cash dividend at a 3% discount to the prevailing market price (Mulatos mine, Sonora).
    • Chesapeake Gold Corp., reported that it granted 73,500 incentive stock options at an exercise price of $4.37 per share. The Options will vest and be exercisable on the basis of 25% annually, commencing May 31, 2022, the first anniversary of the date of the grant. (Metates project, Durango).
    • Colibri Resource Corporation announced that its previously announced private placement of 23,482,000 units has been oversubscribed for an additional 399,139 units at $.10 per unit with each unit consisting of one common share and one common share purchase warrant exercisable at $0.15 for one common share for a period of twenty-four months from the date of issue. (El Pilar project, Sonora).
    • Silver Viper Minerals Corp., closed the first tranche of a $6M private placement for gross proceeds of $4.57M (La Virginia project, Sonora).  The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes.
    • VanGold Mining Corp., signed a definitive agreement to obtain a non-dilutive USD $7.5M in the form of a silver and gold loan. The company estimates that the amount of gold and silver required to repay this loan facility will represent approximately 25% of the projected gold and silver to be produced by VanGold from its operations at the El Cubo mill in Guanajuato during the 12-month repayment period of the loan.
    • Vizsla Silver Corp., closed a bought deal financing offering for gross proceeds of CAD $69M. The net proceeds of the Public Offering will be used to advance the exploration and development of the Company’s Panuco project, to make option payments and pursue potential future acquisitions, as well as for working capital and general corporate purposes.

    ON RESOURCES AND DEVELOPMENT

    • Barksdale Resources Corp., outlined a 5,000m drilling program at its San Javier project in Sonora. The plan is to start drilling in July 2021 at the Cerro Verde area to confirm near surface copper oxide and gold mineralization up to 200m and test structures believed to control higher grade mineralization.  Cerro Verde has historic indicated + inferred resources for 86M tonnes of 0.33% Cu for a total of 630M Lb Cu. The company also plans to run metallurgical tests to better understand the potential processing routes for both copper and gold mineralization.
    • GoGold Resources Inc., released results from six holes collared at its Los Ricos North project in Jalisco. The most significant results was encountered in hole LRGF-21-041 with 0.38 g/t Au and 84 g/t Ag (1.5 g/t AuEq or 113 g/t AgEq) over 1.7m, plus 0.31 g/t Au and 82 g/t Ag (1.41 g/t AuEq or 105 g/t AgEq) over 56.1m, including 3.57 g/t Au and 975 g/t Ag (16.57 g/t AuEq or 1,243 g/t AgEq) over 1.3m, plus 0.19 g/ Au and 90 g/t Ag (1.39 g/t AuEq or 104 g/t AgEq) over 2.3m.
    • Oroco Resource Corporation presented results from the 3D IP survey conducted at its Santo Tomas project in Sinaloa. The 3D IP results show a good correlation of chargeability and resistivity features with known mineralization and alteration zones in the area of historical drilling and resource delineation. “Final survey data displays a very extensive distribution of chargeability / resistivity features beyond the confines of the historical work at Santo Tomas”. 
    • Sonoro Gold Corp., completed the nine final RC holes at its Cerro Caliche project in Sonora and moves towards an updated technical report and new PEA. The most significant drill intersections were encountered in hole SCR-262 collared at Buena Suerte Area with 0.37 g/t Au and 0.6 g/t Ag (0.38 g/t AuEq) over 21.33m, and ole SCR-264 also collared at Buena Suerte area with 0.29 g/t Au and 12 g/t Ag (0.47 g/t AuEq) over 21.34m, including 1.59 g/t Au and 135 g/t Ag (3.52 g/t AuEq) over 1.53, plus 0.76 g/t Au and 7 g/t Ag (0.87 g/t AuEq) over 15.24m, including 2.4 g/t Au and 2 g/t Ag (2.43 g/t AuEq) over 1.52m. These results indicated a coalescence of the Buena Suerte and Los Japoneses areas into a single orebody of shallow, oxide gold mineralization. Sonoro expects two independent 43-101 compliant reports to update the resource size and classification and determine whether it is sufficient to support the Company’s proposed heap leach mining operation with a conceptual operation of up to 15,000 tonnes per day.

    ON DEALS AND CORPORATE ISSUES

    • Capstone Mining Corp., announced the resignation of a member from its Board of Directors (Cozamine mine, Zacatecas).
    • VanGold Mining Corp., announced that it will change its name to Guanajuato Silver Company, Ltd., for which it has reserved the stock symbol GSVR with the TSX Venture Exchange (El Cubo mine, Guanajuato).
    • Gatos Silver Inc., announced the appointment of its President and CEO. He will assume its role, effective June 1, 2021 (Los Gatos mine, Chihuahua).
    • Great Panther Mining Limited, appointed its new CFO and COO, effective June 30, 2021 (Topia mine, Durango).
    • First Majestic Silver Corp., released results from its annual general meeting of shareholders (San Dimas property, Durango). 
    • Fortuna Silver Mines Inc., provided an update of the legal dispute against the Mexican Geological Survey (SGM) if the royalty in one of its claims at San Jose mine in Oaxaca is not paid. Effective May 27, 2021, the General Direction of Mines (DGM) provided notice to the Company of the termination of the cancellation procedure, as it has determined that the required cause for cancellation of the concession was not established.   As a result, the Company has discontinued the Amparo Proceedings in the Collegiate Court in Mexico. In light of these constructive developments, the Company is now engaged in goodwill discussions with the SGM to reach an agreement to the satisfaction of both parties with respect to the royalty claim.

    ON SOCIAL RESPONSIBILITY

    • Alamos Gold Inc., released its 2020 Environmental, Social, and Corporate Governance (ESG) Report. It outlines the company’s progress on its ESG performance in 2020 across its operations, projects and offices, and provides direction on planned initiatives for 2021 (Mulatos mine, Sonora). 
    • Grupo México delivered seed capital for productive and social projects in the community of Sombrerete, Zacatecas, which contribute to promoting development and building a more competitive community. This project that has been carried out since 2009 has approved more than 600 projects. On this occasion, seven new projects were approved whose support is MXP $1M, which is distributed among the projects, according to the scope presented by each one.
    • Newmont Corporation launched its 2020 Annual Sustainability Report. This is part of the suite of reports on the Company’s environmental, social and governance (ESG) practices in key areas that include health, safety and security, human rights, the environment, social acceptance, governance, and inclusion and diversity.

    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, quartz blade texture in a hot spring and epithermal vein system in a project in Hidalgo, Mexico.  Photo by Miguel A Heredia.

    The Mining and Exploration News in Mexico: Highlights on the Fourth Week of May, 2021

    By Jorge Cirett

    During the 21st week of the year (May 24th to May 30th, 2021), at least 33 press releases were announced by companies working in Mexico. To note, seven companies posted exploration advances on their properties, three presented mining related news, seven posted on financing (C$6M, $60 M, C$5 M, C$10 M, $2.6 M, $C$11.5 M) and one on share distribution, six more on project development or resource definition and two posted on corporate issues. ON MEXICO ISSUES, CanCham complained on the lack of clear policies and opacity on the rule of law that are affecting Canadian investments in Mexico.  The push from the Mexican government to create an institution to manage the lithium industry from the optics of sovereignty sees opposition from the mining industry, and reality. Camimex released a list of mining investments to be realized in the next few years, amounting to several billion dollars. ON EXPLORATION, in Sonora, Ridgestone Mining applied for drilling permits at Rebeico. Tocvan Ventures released results from drilling at Pilar. In Chihuahua, Kootenay Silver released high-grade results from drilling at Columba. In Durango, Mithril Resources, updated on drilling at Copalquin. In Sinaloa, Riverside Resources released surface sample results; Vizsla Silver informed on geophysical results supported by drilling, and more surveys to come; Brigadier Gold discovered bulk tonnage copper mineralization in trenching of soil anomalies. ON MINING, Impact Silver and Telson Mining presented Q1 2021 results. Magna Gold informed it has exceeded 3 M man-hours of work without lost-time incidents. ON FINANCING, Silver Bull Resources is to distribute 34.2 M shares of Arras Minerals among its shareholders. Six companies informed on financing rounds: Silver Viper Minerals (C$6 M), Vizsla Silver ($60 M), Reyna Silver (C$5 M), Sable Resources (C$10M, Defiance Silver (C$11.5 M) and Mammoth Resources ($2.58 M). ON RESOURCES AND DEVELOPMENT, Prime Mining released drilling results from Los Reyes. GR Silver Mining reported near surface drill results from Plomosas. GoGold Resources released drilling results from the Casados deposit at Los Ricos North. Discovery Silver released results from 12 drill holes targeting high-grade vein trends at Cordero. Sailfish Royalty filed a technical report with a new resource estimate for Gavilanes. Discovery Silver updated on exploration at Cordero, with 75,000 m of drilling completed on 178 holes, and four drills continuing the phase 2 program. Golden Tag announced the discovery of a shallow zone of epithermal mineralization at San Diego.   ON DEALS AND CORPORATE ISSUES, Mexus Gold informed Fresnillo PLC is reviewing its Santa Elena mine. Riverside Resources announced BHP is funding a third year of generative work in Sonora. ON SOCIAL RESPONSIBILITY, Peñoles and Fresnillo PLC informed on their policies and programs to aid in education on a wide range of communities. Minera San Xavier informed Cerro San Pedro in San Luis Potosi has been declared as “Cyanide Free Site” by the International Cyanide Management Institute.

    ON MEXICO ISSUES

    • CanCham (Cámara de Comercio de Canadá en México) pointed out that the lack of clear policies and the opacity on rule of law is affecting Canadian investments, which show an 18% decrement in the last year, holding the investment of thousands of millions (Mexican number notation) of dollars in the energy, mining, pharmaceutical and agricultural sectors. These remarks were expressed by Enrique Zorrilla, Cancham’s president, in the meeting between the Commerce ministers of Mexico, Canada and the United States.
    • Mexico is preparing its strategy to develop the lithium market. The federal government intends to become a lithium producer by controlling several deposits, Bolivia’s advice and a commerce treatise to facilitate establishing an electric battery factory. The current government senate fraction is preparing a proposal to create the Instituto Nacional del Litio. (Lithium National Institute) and to declare lithium as Nation’s exclusive property (Note. – This federal initiative push misses the point that so far there is not a single lithium mine in Mexico, that its lithium in brines potential is limited at best, and that the economics of lithium extraction from clays -like in the Bacanora Lithium’s deposit in Sonora- is not yet clear).
    • Fernando Alanís, president of Camimex (Cámara Minera de México) informed that lithium deposits in Mexico have a very low grade, and lack the technology for its extraction, reason for which the country is far from becoming a world power in lithium production. Lithium presents in three kind of deposits: hard rock (pegmatites), brines (from salt lakes) and clays. Rock and brine lithium extraction accounts for 100% of the world production, whereas the extraction of lithium from clays is very energy intensive and expensive, not having a single producing mine in the entire planet.
    • Camimex released a table with the Mexican Mining Developments programmed for the next few years, same that reach US$7,820 Million in investment (Mexican number notation, equivalent to US$7.8 billion).

    ON EXPLORATION

    • Mithril Resources Ltd. provided an update on drilling at its Copalquin project in Durango. The current program main focus is to extend the Refugio ore shoot down dip (presently 600 m along strike, 200 m down dip, 5 m in width), maiden drilling at Los Pinos target, extend three holes and deep exploration drilling at La Soledad and extend near-surface intercepts at El Cometa.
    • Ridgestone Mining Inc. commenced permitting for drill programs at Guadalupe y Calvo, Chihuahua, and Rebeico, Sonora.
    • Riverside Resources Inc. reported surface sample results from its La Silla project in Sinaloa. The highlighted samples from the El Ciruelo and El Roble targets returned 6.1 gpt Au, 80 gpt Ag; 5.6 gpt Au, 81 gpt Ag; 4.4 gpt Au, 35 gpt Ag; 3.5 gpt Au, 26 gpt Ag; 3.3 gpt Au, 20 gpt Ag; 2.6 gpt Au, 41 gpt Ag, on quartz veining, gossanous breccia and strongly oxidized andesite. El Ciruelo target extends for at least 1 km with a 1-5 m wide chalcedonic vein zone. El Roble vein extends for at least 300 m, reaching up to 2 m in width, with mineralization occurring also in the host rock.
    • Vizsla Silver Corp. provided an update on the recently completed geophysical survey completed at Panuco, in Sinaloa. A fixed loop electromagnetics (FLEM, or EM) was trialed and detected massive sulfide mineralization on the Napoleon and Josephine veins, proved with three massive sulfide intercepts in the latter. The Josephine vein has no known surface expression and runs parallel to the west of the main Napoleon trend. Mineralization at Tajitos is not related to massive sulfides and was not detected with EM. Vizsla is planning a property wide airborne EM-magnetic survey at Panuco.
    • Kootenay Silver Inc. announced high-grade results from the 5,000 m core drill program currently underway at Columba, Chihuahua. Highlighted core length intervals in the Hanging-Wall, F, and Footwall veins comprise 1.55 m @ 189 gpt Ag, 0.1%Pb, 0.2% Zn; 1.0 m @ 104 gpt Ag, 0.1% Zn; 2.44 m @ 217 gpt Ag, 0.1% Pb, 0.1% Zn; 2.94 m @ 321 gpt Ag, 0.2% Pb, 0.6% Zn (including 1.94 m @ 428 gpt Ag, 0.3% Pb, 0.7% Zn); 8.0 m @ 130 gpt Ag, 0.1% Pb, 0.2% Zn (including 2.9 m @ 265 gpt Ag, 0.1% Pb, 0.5% Zn); 1.95 m @ 104 gpt Ag, 0.1% Pb, 0.1% Zn; 9.0 m @ 354 gpt Ag, 0.1% Pb, 0.4% Zn (including 2.63 m @ 809 gpt Ag, 0.3% Pb, 0.4% Zn); 30.0 m @ 86 gpt Ag (including 2.37 m @ 425 gpt Ag, 0.2% Zn).
    • Brigadier Gold Ltd. announced the discovery of bulk tonnage type copper mineralization at its Picachos project in Sinaloa. Fifty meters on trenching of historic copper anomalies has returned XRF copper values ranging from 0.05 to 1.34% Cu and 20 to 284 ppm Ag. Brigadier has also completed mapping and sampling of the historic La Gloria mine, where a drill hole intercepted 1.0 m @ 6.26 gpt Au.
    • Tocvan Ventures Corp. released results for the first three holes of its phase-II drill program at Pilar, in Sonora. The drill program consists of 2,900 m of reverse circulation drilling in 17 holes, of which 14 are pending results. Highlighted down-hole intercepts comprise 29 m @ 0.71 gpt Au (including 6.1 m @ 1.9 gpt Au); 24.4 m @ 0.56 gpt Au (including 9.2 m @ 1.3 gpt Au, 14 gpt Ag); 6.1 m @ 0.48 gpt Au, 4 gpt Ag; 4.6 m @ 0.50 gpt Au, 11 gpt Ag.

    ON MINING

    • Impact Silver Corp. presented its financial and operating results of Q1 2021. During the period 36.4 K tonnes were processed @ 162 gpt Ag to produce 156.9 K Oz Ag. “continued exploration on the north and south extensions of the Veta Negra Mine, trenching on the bulk tonnage gold target at Manto America in the central part of the district and exploration on the northwest (Pachuqueno) extensions of the Guadalupe Mine”.
    • Magna Gold Corp. has exceeded 3 M man-hours of work without lost-time incidents within all its operations, including contractors and suppliers. The last lost-time incident was in 2018, and the mine has not had a fatal accident in its 11 years history.
    • Telson Mining Corp. presented its first quarter 2021 financial and operating results. At Campo Morado in Guerrero, 174.4 K tonnes were processed to produce 11,013 tonnes Zn (74% Zn recovery), 1,908 tonnes Pb at cash cost $0.70 per Lb Zn and AISC of $0.90 per Lb Zn. During the period gross revenue was $21.2 M (Q1 2020: $19.0 M) and mine operating profit $5.25 M (Q1 2020: $0.26 M loss).

    ON FINANCING

    • Silver Bull Resources Inc. announced its intent to distribute 34.2 M shares of Arras Minerals Corp. to Silver Bull shareholders. Silver Bull transferred mineral properties in Kazakhstan and received 36 M shares of Arras in return, making Arras an approximately 88%-owned subsidiary of Silver Bull (Sierra Mojada, Coahuila).
    • Silver Viper Minerals Corp. intends to undertake a non-brokered private placement financing to raise aggregate gross proceeds of up to C$6 M (La Virginia, Sonora).
    • Vizsla Silver Corp. entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters to buy units of the company for gross proceeds of $60 M (Panuco, Sinaloa).
    • Reyna Silver Corp. entered into an agreement with Eight Capital and Red Cloud Securities Inc. in connection with a private placement intended to raise up to C$5 M (Guigui and Batopilas, Chihuahua).
    • Sable Resources Ltd. entered into an agreement with Sprott Capital Partners LP and Eight Capital in connection with a bought deal private placement financing to raise up to C$10 M (Vinata, Chihuahua).
    • Mammoth Resources Corp. Announced a non-brokered private placement financing aiming to raise up to $2 M, same that by the next day had been increased to $2.58 M (Tenoriba, Chihuahua).
    • Defiance Silver Corp. has increased the size of its previously announced private placement with Red Cloud Securities Inc. for gross proceeds of up to C$11.5 M (Bolañitos and Pinguico, Guanajuato).

    ON RESOURCES AND DEVELOPMENT

    • Prime Mining Corp. released additional results from its ongoing 15,000 m drill program at Los Reyes, Sinaloa. The Highlighted true width intercepts are from the Guadalupe East, Zapote South and the Estaca vein: 11.6 m @ 8.12 gpt Au, 725 gpt Ag; 5.6 m @ 11.95 gpt Au, 1,221 gpt Ag; 2.1 m @ 21.63 gpt Au, 1,960 gpt Ag; 2.0 m @ 11.17 gpt Au, 909 gpt Ag; 2.4 m @ 2.00 gpt Au, 121 gpt Ag; 1.4 m @ 10.50 gpt Au, 300 gpt Ag; 3.9 m @ 0.45 gpt Au, 37 gpt Ag; 0.6 m @ 93.80 gpt Au, 829 gpt Ag.
    • GR Silver Mining Ltd. reported near surface drill results from the Plomosas mine area in Sinaloa. Highlighted true width intervals comprise 11.9 m @ 84 gpt Ag, 2.3% Pb, 2.7% Zn, 0.1% Cu; 16.7 m @ 7 gpt Ag, 0.22 gpt Au, 0.1% Pb, 0.3% Zn; 10.8 m @ 3 gpt Ag, 0.20 gpt Au, 0.1% Pb, 0.4% Zn; 4.2 m @ 10 gpt Ag, 0.09 gpt Au, 0.1%Pb, 0.6% Zn, 0.1% Cu; 2.1 m @ 350 gpt Ag, 1.0% Pb, 0.4% Zn; 1.9 m @ 348 gpt Ag, 0.3% Pb, 0.3% Zn; 1.3 m @ 26 gpt Ag, 0.19 gpt Au, 3.3% Pb, 3.3% Zn; 1.0 m @ 128 gpt Ag, 1.00 gpt Au, 9.0% Pb, 9.7% Zn, 0.2% Cu; 2.6 m @ 45 gpt Ag, 0.60 gpt Au, 3.0% Pb, 0.9% Zn; 4.7 m @ 187 gpt Ag, 0.18 gpt Au, 2.2% Pb, 1.2% Zn, 0.1% Cu; 2.0 m @ 277 gpt Ag, 0.22 gpt Au, 0.2% Pb, 0.4% Zn; 1.9 m @ 283 gpt Ag, 0.82 gpt Au, 0.3% Pb, 1.0% Zn, 0.1% Cu.
    • GoGold Resources Inc. released results of nine holes on the Casados deposit at the Los Ricos North project in Jalisco. Highlighted core length intersects comprise 29.9 m @ 0.25 gpt Au, 70 gpt Ag; 15.5 m @ 0.27 gpt Au, 67 gpt Ag; 34.4 m @ 0.17 gpt Au, 67 gpt Ag; 5.3 m @ 0.65 gpt Au, 305 gpt Ag; 9.2 m @ 0.24 gpt Au, 109 gpt Ag (including 1.9 m @ 0.61 gpt Au, 442 gpt Ag); 60.5 m @ 0.21 gpt Au, 44 gpt Ag; 2.1 m @ 0.57 gpt Au, 322 gpt Ag; 54.1 m @ 0.37 gpt Au, 92 gpt Ag; 28.5 m @ 0.43 gpt Au, 100 gpt Ag (including 1.8 m @ 2.09 gpt Au, 418 gpt Ag); 14.0 m @ 0.46 gpt Au, 134 gpt Ag (including 5.3 m @ 1.04 gpt Au, 304 gpt Ag); 2.6 m @ 2.93 gpt Au, 610 gpt Ag.
    • Discovery Silver Corp. released results from 12 diamond drill holes testing the Josefina and Todos Santos high-grade vein trends at the Cordero project in Chihuahua. Highlighted intercepts on the Josefina vein trend comprise 41.5 m @ 97 gpt Ag, 0.04 gpt Au, 1.0% Pb, 2.5% Zn (including 4.1 m @ 520 gpt Ag, 0.11 gpt Au, 3.0% Pb, 9.8% Zn and 3.3 m @ 182 gpt Ag, 0.09 gpt Au, 3.4% Pb, 7.1% Zn); 13.1 m @ 112 gpt Ag, 0.13 gpt Au, 1.3% Pb, 2.2% Zn; 36.4 m @ 66 gpt Ag, 0.10 gpt Au, 0.3% Pb, 1.0% Zn; 87.4 m @ 38 gpt Ag, 0.06 gpt Au, 0.2% Pb, 1.0% Zn; 3.6 m @ 343 gpt Ag, 0.11 gpt Au, 1.7% Pb, 2.7% Zn; 19.3 m @ 40 gpt Ag, 0.06 gpt Au, 0.7% Pb, 1.4% Zn); 22.4 m @ 156 gpt Ag, 0.10 gpt Au, 1.7% Pb, 2.3% Zn (including 3.7 m @ 299 gpt Ag, 0.16 gpt Au, 3.9% Pb, 5.7% Zn). The Josefina vein trend includes two subparallel veins that run for 1.5 km, and has been tested to 370 m depth and remains open. The Todos Santos vein trend consists of two closely spaced veins, extends for at least 1.5 km along strike and 400 m of depth in old workings and drill holes. Highlighted intercepts comprise 62.0 m @ 19 gpt Ag, 0.28 gpt Au, 0.1% Pb, 2.0% Zn; 21.4 m @ 46 gpt Ag, 0.07 gpt Au, 0.8% Pb, 1.3% Zn; 1.9 m @ 113 gpt Ag, 0.04 gpt Au, 2.4% Pb, 3.2% Zn; 3.7 m @ 96 gpt Ag, 0.07 gpt Au, 1.8% Pb, 3.0% Zn; 2.1 m @ 160 gpt Ag, 0.27 gpt Au, 3.3% Pb, 3.6% Zn.
    • Sailfish Royalty Corp. filed a NI-43-101 technical report and estimate of mineral resources for the Gavilanes project in Durango.
    • Discovery Silver Corp. updated on its Cordero project in Chihuahua and informed that by the end of the first quarter 2021 had cash and cash equivalents for $94.7 M. At Cordero 75,000 m of drilling were completed in 178 holes in phase 1 drilling, providing information to be used in the bulk-tonnage preliminary economic assessment (PEA) underway. Phase 2 drilling continues with four rigs, focused on reserve definition, resource expansion and high-grade vein delineation. Bulk tonnage targeted drilling has returned up to 128.2 m @ 65 gpt Ag, 0.05 gpt Au, 1.2% Pb, 1.3% Zn; 131.6 m @ 48 gpt Ag, 0.09 gpt Au, 0.5% Pb, 1.1% Zn (including 37.1 m @ 119 gpt Ag, 0.22 gpt Au, 1.0% Pb, 1.2% Zn); 110.0 m @ 37 gpt Ag, 0.04 gpt Au, 0.8% Pb, 1.0% Zn; 85.6 m @ 53 gpt Ag, 0.05 gpt Au, 1.4% Pb, 1.7% Zn. Drilling on high-grade veins has returned up to 4.1 m @ 520 gpt Ag, 0.11 gpt Au, 3.0% Pb, 9.8% Zn in the Josefina vein; 4.0 m @ 377 gpt Ag, 0.28 gpt Au, 7.1% Pb, 3.4% Zn in the Todos Santos vein and 4.4 m @ 246 gpt Ag, 0.39 gpt Au, 6.5% Pb, 0.4% Zn on the Parcionera vein.
    • Golden Tag Resources Ltd. discovered a new zone of epithermal mineralization at the San Diego project in Durango. The new drill hole intercepted 10.0 m @ 0.55 gpt Au, 628 gpt Ag, 1.1% Pb, 3.6% Zn, 0.12% Cu, in a zone where previous drilling had returned 2.0 m @ 0.33 gpt Au, 161 gpt Ag, 0.3% Pb, 0.2% Zn, 0.04% Cu; 3.75 m @ 0.32 gpt Au, 125 gpt Ag, 1.5% Pb, 4.0% Zn, 0.12% Cu. “The hole intersected a series of epithermal breccias and quartz-carbonate veins within the Central Diorite intrusion from 73.0 to 92.70 m which are characterized by cavity filling banded quartz and carbonate veins with fluorite and associated sulfides comprised primarily of pyrite, sphalerite, galena, boulangerite, and arsenopyrite”.

    ON DEALS AND CORPORATE ISSUES

    • Mexus Gold US. informed personnel from Fresnillo PLC is reviewing its Santa Elena mine in Sonora. The geologists are checking the potential for a disseminated deposit, as well as the quartz vein currently worked by Mexus.
    • Riverside Resources Inc. announced BHP and Riverside “have agreed on moving forward with a third year of generative funding for copper exploration in Sonora. The new budget is US$1.3 M for generative exploration work.

    ON SOCIAL RESPONSIBILITY

    • Peñoles and Fresnillo PLC informed on their policies and programs to aid on education in a widespread communities.
    • Minera San Xavier has been declared as “Cyanide Free Site” by the International Cyanide Management Institute. Cerro San Pedro is the first mine in the world that has realized the dismantling process of the 110 m high heap that covers 102 hectares (1 square kilometer).

    Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group. On the image below:  Quartz-tourmaline breccia from a project in Sinaloa. Picture by Jorge Cirett.

    Zacatecas Silver Enters into 10,000Metre Diamond Drill Contract withMajor Drilling and Secures AccessAgreement with The Ejido “Panuco”Municipality, Zacatecas

    VANCOUVER, BC, May 6, 2021 /PRNewswire/ – Zacatecas Silver Corp. (“Zacatecas Silver” or the “Company”) (TSXV: ZAC) is pleased to announce it has achieved a key milestone to commence its drilling activities at its highly prospective Panuco Silver Deposit and San Gill Breccia Zone by securing an access agreement with the Ejido “Panuco” Municipality, Zacatecas.  Further, Zacatecas Silver has entered into a 10,000 metre diamond drill contract…….