Aura Minerals Announces the Results of the NI 43-101 Feasibility Study for the Restart of Operations at the Aranzazu Mine in Zacatecas, Mexico

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BRITISH VIRGIN ISLANDS, Caribbean, July 16, 2018 — Aura Minerals Inc. (TSX:ORA) (“Aura”, the “Company”) is pleased to announce results of the positive National Instrument 43-101 Feasibility Study (“FS”) for the restart of operations at Aura’s wholly owned Aranzazu Mine (“Aranzazu”, the “Project”) in Zacatecas State, Mexico. The FS was prepared by Aura in collaboration with other external consultants and specialists in different areas such as geology, mining, geotechnical,
infrastructure, environment and mineral processing.

ORLA FILES PRELIMINARY ECONOMIC ASSESSMENT TECHNICAL REPORT ON CAMINO ROJO PROJECT

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Vancouver, British Columbia–(Newsfile Corp. – July 12, 2018) – Orla Mining Ltd. (TSXV: OLA) (“Orla” or the “Company”) is pleased to announce that the Company has filed a technical report, prepared in accordance with National Instrument 43-101, for its 100% owned Camino Rojo Project located in Zacatecas State, Mexico. Orla previously released the results of the preliminary economic assessment (“PEA”) in its May 29, 2018 news release which included a summary of all assumptions and key results contained in the technical report.

SIERRA METALS ANNOUNCES POSITIVE PRELIMINARY ECONOMIC ASSESSMENT RESULTS FOR A 67% OUTPUT EXPANSION AT ITS BOLIVAR MINE IN MEXICO TO 5,000 TONNES PER DAY YIELDING A RETURN ON INVESTMENT OF 550%

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TORONTO, July 9, 2018 /PRNewswire/ – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report the results of a Preliminary Economic Assessment (“PEA”) regarding the Company’s Bolivar Mine, located in Chihuahua State, Mexico. The PEA is based on technical inputs from various independent consulting groups, including; SRK, Redco, Anddes and Transmin.

Highlights on the Fourth Week of June, 2018. Mining and Exploration News in Mexico

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By Jorge Cirett

During the 26th week of the year (June 25th to July 1st, 2018), at least 20 press releases were announced by companies working in Mexico. Five companies updated on exploration advances. Three companies announced financing exercises that could accrue over US$14 M, and one company proceeded with a 10:1 consolidation. ON MEXICO ISSUES, Argonaut Gold announced a ruling by the Collegiate Tribunal to reinstate its explosives permit at La Colorada in Sonora. ON EXPLORATION, In Sonora, Aztec Minerals reported drilling results from the Cervantes property; Kootenay described its La Mina property and Aloro Mining obtained the drilling permit for the Los Venados project. ON MINING Argonaut Gold announced a ruling by the Collegiate Tribunal to reinstate its explosives permit at La Colorada in Sonora. Frisco and Goldcorp are to jointly explore the Mazapil valley in Zacatecas. ON FINANCING, Silver Bull, Prize Mining and One World Lithium announced private placements for up to $3 M, $10.75 M and CND$2 M respectively. ON RESOURCES AND DEVELOPMENT, Endeavour Silver released results from infill drilling at Terroneras, Jalisco. Sierra Metals informed of a stockwork zone on the Santa Rosa de Lima structure of its Cusi mine in Chihuahua. ON DEALS AND CORPORATE ISSUES, Geologix finalized its name change to ValOro. Defiance Silver acquired a land package from Mag Silver in Zacatecas. Aloro Mining received title to land contiguous to its Venados project in Sonora. Arian Silver presented its financial report for 2017. Kootenay Silver optioned La Mina property in Sonora to Capstone Mining.

ON MEXICO ISSUES

  • No Relevant News..

ON EXPLORATION

  • Kootenay Silver Inc. reported drilling results by partner Aztec Minerals Corp. on its Cervantes project in Sonora. The final six core holes of 17 on the phase 1 campaign encountered porphyry-type gold-copper mineralization. Highlighted intervals comprise 16.0 m @ 0.25 g/t Au, 0.12% Cu; 100.5 m @ 0.22 g/t Au, 0.12% Cu; 98.5 m @ 0.41 g/t Au, 0.13% Cu (including 33 m @ 0.60 g/t Au, 0.02% Cu); 85.2 m @ 0.48 g/t Au; 0.07% Cu; 90.5 m @ 0.29 g/t Au, 0.06% Cu (including 34.5 m @ 0.55 g/t Au); 116 m @ 0.35 g/t Au, 0.06% Cu (including 62 m @ 0.5 g/t Au). The drilling extended the strike length to more than 800 m at the California and Jasper prospect areas.
  • Kootenay Silver Inc. optioned the La Mina property in Sonora to Capstone Mining Corp. (see below). The property covers “the upper levels of a zoned copper porphyry mineral system exposed over a 2 by 2 Kilometer area”, containing a large leached argillized pyritic zone where surface grab and chip samples averaged about 300 ppm Cu. Another area in the property displays a 100 x 700 m exotica copper zone where sampling averaged 0.49% Cu on 40 rock chip samples.
  • Aloro Mining Corp. informed the permit for road construction and drilling at its Los Venados property in Sonora has been granted by SEMARNAT (Environmental bureau). The permit allows for drilling 12 reverse circulation (RC) holes and the construction of 3,693 m of access roads.
  • Minera Frisco and Goldcorp Inc. entered into an agreement for exploration and mining in the Mazapil valley, Zacatecas. The information was presented by Frisco to the Bolsa Mexicana de Valores (BMV).
  • One World Lithium Inc. conducted a geophysical survey at its Salar del Diablo project in Baja California. The Volterra TEM in-loop sounding survey was carried on the northern third of the Salar del Diablo. The survey totaled 79.7 line kilometers on seven lines nine to twelve Km long and spaced two Km apart, covering 150 square Km. A six square Km part of the salar is highly conductive and with a calculated thickness in excess of 100 m. A probably thinner and less conductive part of the salar covers 24 square Km and is open ended. The company intends to launch a 15 hole 4,000 m drilling campaign in three months time.

ON MINING

  • Argonaut Gold Inc. announced that the Collegiate Tribunal (an arm of the State Supreme court that is tasked with overseeing the Judiciary court) unanimously ruled to lift the suspension of the explosives permit at its La Colorada mine in Sonora. “The ruling directs that the Secretary of National Defense (“SEDENA”) reinstate the explosives permit”. “With this successful appeal, the Company will now have the ability to continue full operations during the balance of the Judiciary legal process”. Ramp up of full operations is expected to be re-established by mid-July.

ON FINANCING

  • Geologix Explorations Inc. announced the name change to ValOro Resources Inc. along with a share consolidation on a 1:10 ratio will take effect as market opens on June 28th (Tepal, Michoacan).
  • Silver Bull Resources Inc. intends to complete a private placement aiming for gross proceeds of US$3 M (Sierra Mojada, Coahuila).
  • Prize Mining Corp. is to make a private placement aiming to raise up to $4 M in gross proceeds. The company is to pay 7.0% of the gross proceeds as cash commission, and a cash work fee of $40 K to the agent. The maximum aggregate gross proceeds of the offering and the non-brokered private placement is $10.75 M. (Manto Negro, Coahuila).
  • One World Lithium Inc. announced that the previous non-brokered private placement announced on May 25, 2018 will be replaced with a non-brokered private placement aiming to raise gross proceeds of up to CND$2 M.

ON RESOURCES AND DEVELOPMENT

  • Endeavour Silver Corp. released results from infill drilling at its Terroneras property in Jalisco. Highlighted true width (TW) intervals from these nine holes comprise: 2.8 m @ 2.0 g/t Au, 54 g/t Ag; 1.3 m @ 1.3 g/t Au, 467 g/t Ag; 2.3 m @ 4.8 g/t Au, 222 g/t Ag; 21.2 m @ 3.2 g/t Au, 618 g/t Ag; 6.0 m @ 2.6 g/t Au, 507 g/t Ag; 1.5 m @ 7.1 g/t Au, 181 g/t Ag; 1.6 m @ 4.2 g/t Au, 120 g/t Ag; 4.4 m @ 4.7 g/t Au, 121 g/t Ag; 4.6 m @ 4.3 g/t Au, 146 g/t Ag; 5.7 m @ 1.3 g/t Au, 164 g/t Au. “The infill drill program is now 60% complete, with 5,990 m drilled out of 10,000 m planned”.
  • Sierra Metals Inc. confirmed the existence of a wide high-grade silver stockwork within the Santa Rosa de Lima vein complex, at its Cusi property in Chihuahua. The stockwork zone measures 100 m in length, 40 m in width and 70 m in height, and is open at depth and width. Mine development so far has resulted in 4,437 tonnes @ 205 g/t Au, 0.07 g/t Au, 0.12% Pb, 0.15% Zn.

ON DEALS AND CORPORATE ISSUES

  • Geologix Explorations Inc. announced the name change to ValOro Resources Inc. along with a share consolidation on a 1:10 ratio will take effect as market opens on June 28th (Tepal, Michoacan).
  • Defiance Gold Corp. completed the acquisition of Mag Silver’s Corp.’s Zacatecas silver district holdings, including its regional exploration database. Defiance is to pay 5 M shares to Mag for as consideration for the sale. The Lagartos project consists of 14 concessions covering 800 hectares (San Acacio, Zacatecas).
  • Aloro Mining Corp. received the title from a 1,675 has concession contiguous to its 1,524 has Los Venados project in Sonora. The claim was staked on July 2017 (Los Venados, Sonora).
  • Arian Silver Corp. presented financial results for 2017. The company owns 12 mining concessions covering 1,500 hectares, some of which encompass the Los Campos, San Celso, Los Africanos and Calicanto projects in Zacatecas. At the end of the period the company had 0.9 M in cash and cash equivalents.
  • Kootenay Silver Inc. entered into an option agreement with Capstone Mining Corp. on La Mina project in Sonora. Capstone can earn-in an initial 60% by making staged payments of US$600 K and spending US$4 M on exploration over 4 years. “Capstone may earn up to a 100% interest in La Mina in stages by completing certain milestones including preparation of a preliminary economic assessment, a pre feasibility study and paying an additional aggregate total of US$8.4 million to Kootenay in stages at each of the various milestones”. The property is subject to an underlying information agreement with a 2.5% royalty, of which up to 2.0% can be bought. “If Capstone Mining earns 100% interest, Kootenay will retain a 1% net smelter return with no buy out option of which 0.5% will be held by the third party after giving effect to the Buydown”.
  • Minera Frisco and Goldcorp Inc. entered into an exploration/mining agreement on the Mazapil Valley. No further details were released.

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, intensely silicified tuff, interpreted as alteration at the paleo water table of an epithermal low sulfidation system in Guanajuato. Picture by Jorge Cirett.

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

 

By Miguel A Heredia

During the 25th week of the year (June 18th to June 24th, 2018), at least 23 press releases were announced by companies working in Mexico, with eight informing on exploration results, eight communicating deals and corporate issues, five  announcing financing rounds, one reporting on resources and development, and one running leaching tests.  ON MEXICO ISSUES, no relevant news.   ON EXPLORATION, In Sonora, Millrock reported trench results from its La Navidad project. In Chihuahua, Ethos Gold filed a draft NI 43-101 technical report for its la Purisima project. In Coahuila, Discovery Metals reported sampling results from its Puerto Rico project. In Sinaloa, Chesapeake released exploration results from its Yarely project and Riverside reported exploration results from its La Silla project. In Zacatecas, Excellon commenced a drill program at its Miguel Auza project while Defiance defined a significant anomaly at its San Acacio project.  ON MINING, Mexus Gold provided and update on progress from its 8 Brothers/370 gold project in Sonora.  ON FINANCING, Aura Silver announced the extension of 3.5M warrants. Harvest Gold closed a second tranche of a non-brokered private placement for CDN$149,600. Maverix entered in a revolving credit agreement to borrow up to US$50M. Prize amended terms of a non-brokered private placement to raise money for $6.5M. Starcore completed a private placement for CDN$3M. ON RESOURCES AND DEVELOPMENT, Sierra Metals announced PEA results for its Cusi Mine in Chihuahua. Minera Alamos provided an update on its Guadalupe de Los Reyes project in Sinaloa. ON DEALS AND CORPORATE ISSUES, Coeur signed a definitive agreement with Evrim to option the Sarape property in Sonora.  Avino and Consolidated Zinc announced management changes, and Colibri and Torex reported results from its annual general meeting of shareholders. Marlin, Gold Reign, and Sailfish entered in a definite arrangement agreement regarding a combination business. Equinox announced a spin-out of its copper assets to create Solaris Copper. Valterra entered into an option agreement to acquire the Los Reyes Cu-Au project in Chihuahua.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Millrock Resources Inc., reported trench results from its La Navidad project in Sonora. Significant results are 7m of 0.64 g/t Au; 8m of 0.5 g/t Au, 16m of 0.59 g/t Au; 4.5m of 1.63 g/t Au; 2m of 6.5 g/t Au, 1.3m of 5.26 g/t Au; and 1.5m of 4.5 g/t Au. Its partner Centerra Gold is funding the exploration program at La Navidad and has authorized an extension of the drilling program from 1,650m in 7 holes to 2,900m in 17 holes.
  • Ethos Gold Corp., filed a draft NI 43-101 technical report for its la Purisima project in Chihuahua. The mineralization target consists of low sulphidation epithermal veins which have been traced for over a N-S strike length of over 1.5km in length. The company signed a property access agreement to commence mapping and sampling work with 389 samples collected to date of which 189 have been already submitted to the lab for assays.
  • Discovery Metals Corp., reported sampling results from its Puerto Rico project in Coahuila. 293 channel samples were collected at the Zaragoza mine, of which 83 were from manto mineralization and returned an average grade of 129 g/t Ag, 4.3% Pb, 7.6% Zn, and 0.12% Cu.
  • Riverside Resources Inc., presented geochemical results of 52 samples collected at its La Silla project in Sinaloa. Significant results from the rock chip and channel samples are 1m of 2.1 g/t Au and 27 g/t Ag; 1m of 9.4 g/t Au and 196 g/t Ag; and 1m of 19.9 g/t Au and 200 g/t Ag.
  • Chesapeake Gold Corp., released exploration results, including phase 1 drilling from its Yarely project in Sinaloa. At Loretos prospect, the drill target is a blind skarn-porphyry system indicated by a significant chargeability anomaly. Significant results are 213m of 0.11% Cu, including 64m of 0.17% Cu. At the Central prospect, one of the two holes drilled intersected several 3 to 6m wide structures returning silver values ranging from 11 to 30 g/t. At Lucy prospect, two holes tested skarn/carbonate replacement manto mineralization. Drilling results returned 22m of 0.33 g/t Au and 1.5 % Zn; and 25m of 0.6 g/t Au, 22 g/t Ag, 0.25% Cu, and 1.6% Zn. At Sundae prospect, the company has identified a 3km long high level-low sulphidation epithermal system that runs for over 3km along strike, with individual structures varying from 1-5m in width. A preliminary geophysical survey showed a continuity of the vein host structures to over 500m depth. At Los Mimbres prospect, skarn and hornfels boulders with Cu and Pb sulphide mineralization were recently discovered adding a new target within the Yarely project. Mineralization identified at Los Mimbres is similar to that encountered at Metates. Stream sediment, soil, rock geochemistry and geological mapping are underway to advance this target to the drill stage.
  • Excellon Resources Inc., commenced a 3,000m drill program at its Miguel Auza project in Zacatecas to test targets generated from surface mapping, IP surveying, and structural work conducted since mid-2017 at El Cobre, Abejas, Carmen-Lechuzas, and Lomo de Las Minas prospects. Highlights from the surface sampling are 2.3 g/t Au and 667 g/t Ag at Lomo de Las Minas. Results up to 2.9 g/t Au and 300 g/t Ag were sampled at Carmen and El Cobre confirming mineralization in veins at both targets. Mineralization at Miguel Auza is hosted in epithermal quartz veins similar to those found at Fresnillo mining district.
  • Defiance Silver Corp., defined a significant geophysical anomaly at its San Acacio project in Zacatecas employing Atomic Energy Resonance Imaging (AERI) technology. The AERI identified a pipe shaped anomaly which measures 400m in width, 300m in length, and is open at depth. The AERI anomaly is coincident with a recently delineated IP target, and will be drill tested in the near future.

ON MINING

  • Mexus Gold US., provided and update on progress from its 8 Brothers /370 gold project in Sonora. The company has completed the crushing and loading of ore into the VAT leaching tank to run tests and expects to commence the leaching when tests are completed in the next days.

ON FINANCING

  • Aura Silver Resources, announced its intentions to extend the expiration date of 3.5M warrants from July 9, 2018 to July 9, 2020. The exercise price remains unchanged at $0.05 (Taviche, Oaxaca)
  • Harvest Gold Corporation, closed a second tranche for CDN$149,600 for a total of CAD$479,600 gross proceeds raised in the non-brokered private placement. Gross proceeds will be used to explore its Cerro Cascaron project in Chihuahua.
  • Maverix Metals Inc., entered into a 3 years revolving credit agreement with two bank institutions to borrow up to US$50M. The credit can be extendable through mutual agreement between the involved parties (La Colorada, Zacatecas)
  • Prize Mining Corporation, amended terms of a non-brokered private placement to raise money for $6.5M (Manto Negro, Coahuila).
  • Starcore International Mines Ltd., completed a private placement of secured bonds for CAD$3M (San Martin, Queretaro)

 ON RESOURCES AND DEVELOPMENT

  • Sierra Metals Inc., announced PEA results for its Cusi Mine in Chihuahua. Highlights include an after-tax NPV of $92.2M USD at an 8% discount rate, a 9 years mine life based on existing mineral resource estimate, and a life of mine silver production of 30 M Oz. The company also reported Mineral Resource Estimate as at February 12, 2018. Total measured mineral resources are 362K tonnes @ 225g/t Ag, 0.55% Pb, 0.68% Zn, and 0.13g/t Au. Total indicated resources are 4.2M tonnes @ 217g/t Ag, 0.64% Pb, 0.66% Zn, and 0.21 g/t Au. Total inferred resources are 1.63M tonnes @ 158 g/t Ag, 0.54% Pb, 0.84% Zn, and 0.16 g/t Au.
  • Minera Alamos Inc., provided an update on its Guadalupe de los Reyes project in Sinaloa. The company commenced the mapping of the Mariposa- Zapote structure to evaluate extensions that have not been drilled and could be target areas to expand the resource. The company also collected metallurgical samples and are being prepared for Au leaching studies. It also commenced engineering studies to establish locations and preliminary designs for Au heap leaching facilities.

ON DEALS AND CORPORATE ISSUES

  • Coeur Mining Inc., signed a definitive agreement with Evrim Resources Corp., to option the Sarape property in Sonora. Coeur will have the exclusive right to acquire up to an 80% interest in the property by spending up to $16M USD on exploration, making staged cash payments of up to $2.5M USD, and completing a NI 43-101 compliant FS on a minimum measured and indicated resource estimate of 1M Oz AuEq, all within a ten-year period.
  • Marlin Gold Mining Ltd., Golden Reign Resources Ltd., and Sailfish Royalty Corp., have extended the previously announced LOI to June 29, 2018 to enter in a definitive arrangement agreement regarding a business combination of the Golden´s San Albino-Murra property in Nicaragua and Marlin´s La Trinidad property, México.
  • Equinox Gold Corp., announced plans to transfer all of its copper assets into a newly incorporated company named Solaris Copper Inc. (La Verde, Michoacan).
  • Valterra Resource Corporation, entered into an agreement to acquire the Los Reyes Cu-Au project in Chihuahua. Valterra may acquire a 100% interest, subject to a 2% royalty to a third party, by making staged payments totaling US$4M over a period of 5 years. Target consists of a +800m long Cu-Au rich skarn developed in the contact between a Tertiary-age granodiorite intrusive and Cretaceous-age limestones and shales.

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, phyllic alteration in a porphyry copper system in Jalisco, Mexico. Photo by Miguel A Heredia.

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

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By Jorge Cirett

During the 20th week of the year (May 14th to May 20th, 2018), at least 17 press releases were announced by companies working in Mexico. Seven companies updated exploration advances, with only one company reporting a quarterly report and one other a round of financing. Two companies disclosed news on resources and development while four reported on deals and company issues. ON MEXICO ISSUES, No relevant news. ON EXPLORATION, In Sonora, San Marco was awarded the Espiritu concession, and Millrock begun a new drilling campaign at La Navidad. In Chihuahua, Endeavour Silver released drill results from its Parral properties; VVC Exploration commenced a new drill campaign at its Samalayuca project. In Coahuila, Discovery Metals presented rock sample results from three prospects within its Minerva project. In Sinaloa, Kootenay optioned the Copalito property. In Jalisco, Evrim commenced a third phase exploration campaign at Cuale. ON MINING, Starcore International presented a quarterly report. ON FINANCING, SilverCrest Metals announced the closing of a $17.25 M financing. Mexus Gold paid a $183 K debt. ON RESOURCES AND DEVELOPMENT, Mag Silver presented an advance on development of the Juanicipio project in Zacatecas. Minera Alamos completed the second phase of bulk leach testing at its Santana property in Sonora. ON DEALS AND CORPORATE ISSUES, Marlin Gold and Golden Reign signed a LOI pursuing a business combination. Kootenay Silver optioned the Copalito property in Sinaloa. Argonaut Gold informed on the state of affairs of the legal battle to resume blasting at its La Colorada mine in Sonora. Leagold received clearance from the Mexican government to complete a business combination with Brio Gold.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Endeavour Silver Corp. disclosed drilling results from its Parral properties in Chihuahua. At the San Patricio vein system 8,846 m of core drilling have been completed over 1400 m of strike length. “Three mineralized areas were intersected, of which the largest and central zone now measures 600 m long by 250 m vertical (starting 150 m deep) by 1-3 m true thickness, still open to the south and at depth”. Highlighted true width (TW) intercepts include 2.1 m @ 303 g/t Ag, 0.05 g/t Au, 0.4% Pb, 0.5% Zn; 1.0 m @ 678 g/t Ag, 0.22 g/t Au, 3.5% Pb, 0.9% Zn; 3.0 m @ 689 g/t Ag, 0.24 g/t Ag, 1.6% Pb, 1.1% Zn; 1.6 m @ 293 g/t Ag, 0.27 g/t Au, 3.5% Pb, 7.6% Zn; 2.3 m @ 1,660 g/t Ag, 0.72 g/t Au, 6.5% Pb, 14.4% Zn. Metallurgical recoveries from core samples with flotation and leaching tests include 47% Ag from Sierra Plata (oxide), 98% Ag on El Verde (mixed), 95% Ag on Remedios-Argentina (mixed), 94% Ag and 93% Au on Palmilla (oxide) and 91% Ag and 86% Au in Cometa-San Juanico (mixed).
  • San Marco Resources Inc. announced it was awarded the Espiritu 2,712 ha SMR concession in the recent mineral concession lottery by the Mexican government. The property is less than 30 km SE from San Marco’s Chunibas and 1068 projects in the Sahuaripa district. “Espiritu SMR overlies a window of pre-mineral cretaceous volcanic and sedimentary rocks intruded by Laramide age granitoids”. Previous operator in the area, Kootenay Silver Inc. stated: “An extensive area of polymetallic vein, stockwork, breccia and gold-copper porphyry mineralization”. A porphyry copper setting and a vein and stockwork zone of precious and base metal mineralization are separated by a major fault. Selected drill hole intercepts include 48.0 m @ 0.19 g/t Au, 0.1% Cu; 220.5 m @ 0.14 g/t Au, 0.15% Cu. San Marco is preparing to do a first-pass ground validation and prospecting.
  • VVC Exploration Corp. commenced the third phase of diamond drilling at its Samalayuca copper project in Chihuahua. VVC expects to drill about 3,000 m in the next 180 days.
  • Kootenay Silver Inc. optioned the Copalito project in Sinaloa (See below). “The Copalito Project covers a gold and silver epithermal vein system comprised of numerous veins, with individual veins currently traced over strike lengths up to 2 kilometres. Veins vary in width from 0.5 to 10 meters at surface and grade from background to highs of 7.2 gpt gold and 1,620 gpt silver in grab samples”. Vein textures indicate a low or intermediate sulfidation vein system.
  • Millrock Resources Inc. is beginning a second round of drilling at its La Navidad project in Sonora. The target in the project is orogenic gold mineralization, bulk mineable run-of-mine oxidized deposit. The 1,650 m program aims to drill 150 – 250 m in depth in seven holes, testing areas of gold soil anomalies that now are supported by gold anomalies in trenches. The strongest anomalies occur in folded, faulted metasedimentary rocks of Jurassic age, in close proximity to diorite and monzonite dikes. An induced polarization survey has identified low angle structures conducive of orogenic gold deposits. A 1.4 km of trenching on 16 trenches has been completed, with multiple intervals of anomalous gold, like 18.0 m @ 0.56 g/t Au, 24.9 m @ 0.32 g/t Au, 18.2 m @ 0.20 g/t Au, 10.9 m @ 0.38 g/t Au.
  • Evrim Resources Corp. commenced a third phase exploration at its Cuale high sulfidation project in Jalisco. The program includes 3,000 m of drilling, following on discovery trenches 1 to 4 from La Gloria zone, where trench 1 returned 1.67 g/t Au over 263.7 m and trench 4 returned 13.61 g/t Au over 106.2 m. “The soil survey has already commenced and will be followed with up to 650 metres of trenching at La Gloria and surrounding targets to extend the known footprint of outcropping gold mineralization”. A 40 line-km controlled source audio-magnetotellurics (CSMAT) is planned on potential mineralization under shallow cover. A 3,000 m program is expected to commence on July.
  • Discovery Metals Corp. disclosed assay results of 152 samples from its Minerva project in Coahuila. “Minerva encompasses Ag-Pb-Zn mineralization hosted in skarns, mantos, chimneys and breccias”, similar to La Encantada mine 30 km to the East. The mineralization is located along the margin of a polyphase granitoid intrusive body, with ample zone of shallow gravel cover. At La Tercia prospect, channel samples returned 0.8 m @ 30 g/t Ag, 2.3% Pb, 4.6% Zn; 2.0 m @ 249 g/t Ag, 6.9% Pb, 0.1% Zn; 4.0 m @ 37 g/t Ag, 1.6% Pb, 0.2% Zn; 0.6 m @ 3.8% Pb, 0.4% Zn; 0.6 m @ 84 g/t Ag, 5.8% Pb, 0.2% Zn. At Concordia samples returned 0.8 m @ 1,775 g/t Ag, 14.5% Pb, 40.3% Zn; 0.7 m @ 51 g/t Ag, 2.6% Pb, 0.4% Zn; 0.4 m @ 11 g/t Ag, 0.4% Pb, 25.8% Zn. At Mina Minerva results include 5.1 m @ 39 g/t Ag, 0.4% Pb, 2.0% Zn; dump @ 229 g/t Ag, 30.5% Pb, 5.7% Zn; 0.8 m @ 143 g/t Ag, 9.7% Pb, 5.3% Zn; 1.0 m @ 41 g/t Ag, 2.0% Pb, 16.4% Zn.

ON MINING

  • Starcore International Mines Ltd. announced production results for the fourth quarter of its fiscal year 2018. During the quarter 71.9 K tonnes of ore @ 1.69 g/t Au, 40.6 g/t Ag were processed on its San Martin mine in Queretaro, resulting in the production of 4,140 Oz AuEq. Mill recoveries averaged 88.4% Au, 57.4% Ag. Also during the quarter the Altiplano facility received 373 tonnes of concentrate containing approximately 805 Oz Au and 26,813 Oz Ag.

ON FINANCING

  • SilverCrest Metals Inc. completed its prospectus offering for gross proceeds of $17.25 M, including the exercise of the over-allotment option in full. The company paid the underwriters a cash commission of up to 6% of the gross proceeds of the offering. The proceeds are to be used on the preparation of a preliminary economic assessment (PEA) at the Las Chispas property in Sonora, as well as continuing exploration in the several targets it contains.
  • Mexus Gold US. announced the payment of $183.3 K due to JMJ Financial, closing the current outstanding debt agreement prior to the expiration date (8 Hermanos, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Mag Silver Corp. presented financial results for the first quarter of 2018. Underground development rate has intensified, and exploration drilling is now utilizing directional drilling to infill and expand the Deep Zone, which remains open to depth and on strike. The company funded advances on the Juanicipio project in Zacatecas, mainly by “cash calls” by the operator (Fresnillo PLC). At the end of the period the company had $152.7 M in cash and cash equivalents.
  • Minera Alamos Inc. has completed the second phase of its bulk testing heap-leach activities at its Santana project in Sonora. The initial phase used coarse crushing (<3”) and the second phase involved fine crushing (<1.2-5/8”) and agglomeration of the same mineralized material prior to leaching. The recoveries from the second phase were faster and consistent with those of the first phase of leaching, with 190 Oz Au recovered from 9,000 tonnes of material over a three month period, representing 0.65 g/t of recovered gold.

ON DEALS AND CORPORATE ISSUES

  • Marlin Gold Mining Ltd. and Golden Reign Resources Ltd. entered into a non-binding letter of intent (LOI) together with Wexford Capital LP, pursuing a business combination of Golden Reign’s San Albino-Murra property in Nicaragua, and Marlin’s La Trinidad mine in Sinaloa. Golden reign plans to acquire all Marlin shares. Upon completion of the transaction Marlin shareholders will own approximately 45% of Golden Reign shares, while Golden Reign shareholders will own 55% of the shares.
  • Kootenay Silver Inc. entered into an option agreement to acquire a 100% interest on the Copalito Ag-Au project in Sinaloa. The seven concessions 3,700 ha project can be acquired by making staged payments over a 4-year period, totaling US$985 K, with the vendors retaining a 0.5% NSR. A finders fee of C$10 K and 100 K common shares have to be paid.
  • Argonaut Gold Inc. reported that the Judiciary court hearing with respect to the company’s explosives permit for its La Colorada mine has been rescheduled to June 4, 2018. The company also appealed the Judiciary court’s original decision to temporarily suspend the explosives permit to the Collegiate Tribunal, requesting to re-instate the explosives permit so the company can blast material while the judiciary legal process continue. Argonaut estimates it has sufficient ore to continue operations until the end of July, at the present rate of 12,000 tonnes per day (tpd).
  • Leagold Mining Corp. received clearance from the Comisión Federal de Competencia Económica (COFECE) with respect to Leagold’s acquisition of Brio Gold Inc. “COFECE approval was the final government agency approval required before completing the acquisition, which is anticipated to occur on or around May 24, 2018”

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, opaline silica from a shallow epithermal system in Guanajuato. Picture by Jorge Cirett.

Alio Gold Reports First Quarter 2018 Results

AlioGold_090518

VANCOUVER, British Columbia, May 09, 2018 (GLOBE NEWSWIRE) — Alio Gold Inc (TSX:ALO) (NYSE AMERICAN:ALO) (“Alio Gold” or the “Company”), or the “Company”), today reported its first quarter 2018 results. Production results were previously released on April 11, 2018.  The Company will host a conference call at 11:00am EDT today to discuss the results and the details of the call can be found at the end of the release.

Levon Resources Files Updated 2018 Resource and Preliminary Economic Assessment 43-101 Report, Cordero Project, Chihuahua, Mexico

Levon Resources Wed Apr 18, 2018

April 18, 2018 – VANCOUVER, BRITISH COLUMBIA: Levon Resources Ltd. (TSX:LVN) (“Levon” or “the Company”) is pleased to announce that it has filed a Canadian National Instrument (“NI“) 43-101 Technical Report dated effective March 1, 2018 on SEDAR at www.sedar.com. The Report is prepared by M3 Engineering & Technology (“M3“) in collaboration with Independent Mining Consultants (“IMC“) of Tucson, Arizona and provides the 2018 resource update (IMC) and a Preliminary Economic Assessment Update (“PEA Update“) (M3) for the Cordero Silver, Zinc, Lead, Gold Project in Chihuahua, Mexico; the results of which were announced in a March 5, 2018 news release.