Endeavour Silver Drilling Continues to Intersect High Grade Mineralization in the La Luz Vein on the Terronera Property in Jalisco, Mexico

http://www.edrsilver.com/news/index.php?content_id=602

Vancouver, Canada – August 15, 2017 – Endeavour Silver Corp. (NYSE: EXK, TSX: EDR) announces that exploration drilling on the Terronera property in Jalisco State, Mexico continues to intersect high-grade, gold-silver mineralization at shallow depths within the La Luz vein.

Recent holes were drilled to test the boundaries of the current resource area (dated December 31, 2016) and successfully expanded the mineralization over a 600 metre (m) length by 250 m depth (view long section here).

Drilling highlights include two vein splays in Hole LL23 which assayed as follows:

  • La Luz vein – 45 grams per tonne (gpt) silver and 16.2 gpt gold (1,180 gpt AgEq) over 1.7 m true width (34.4 opT AgEq over 5.6 feet (ft)), with an internal interval assaying 171 gpt silver and 45.2 gpt gold (3,335 gpt AgEq) over 0.2 m true width (97.2 opT AgEq over 0.7 ft); and
  • La Luz HW vein – 25 gpt silver and 20.9 gpt gold (1,485 gpt AgEq) over 1.3 m true width (43.3 opT AgEq over 4.3 ft), with an internal interval assaying 44 gpt silver and 31.6 gpt gold (2,256 gpt AgEq) over 0.3 m true width (65.8 opT AgEq over 1.0 ft);

Highlights on the Second Week of August, 2017. Mineral Exploration in Mexico

During the 32nd week of the year (August 7th to August 13th, 2017), at least 22 press releases were announced by companies working in Mexico, including eight second quarter reports. ON MEXICO ISSUES, two companies reported the receipt of VAT recovery from the government for $1.3 M and $2.4 M respectively. ON EXPLORATION, in Sonora, Oceanus reported results from underground sampling at El Tigre, while Millrock presented an update on properties under its alliance with Centerra. In Zacatecas, Alset presented drilling results from its lithium property, La Salada. In Guanajuato, Golden Minerals informed on drilling by Electrum of its Celaya property.  ON MINING, Golden Minerals, Torex Gold, Premier Gold, Alio Gold, Pan American Silver, Americas Silver, Primero Mining and Argonaut Gold presented production and/or financial results for the second quarter of 2017. US Antimony reported cost reductions on its operations and Telson resources reported the first concentrates shipment from Tahehueto in Durango. ON FINANCING, no relevant news for the first time in the year.  ON RESOURCES AND DEVELOPMENT, Golden Minerals informed on the acquisition of three more claims and the incoming drilling campaign on its Santa Maria project in Chihuahua. ON DEALS AND CORPORATE ISSUES, Santacruz Silver completed the sale of the Gavilanes project in Durango to Marlin Gold. Colibri completed the acquisition of Canadian Gold, along with its properties in Sonora. McEwen Mining reported on the next semi-annual return of capital instalment.

ON MEXICO ISSUES

  • On VAT recovery. The first company to announce a sizeable VAT recovery in years was Alio Gold, which received $1.3 M in cash before the end of the second quarter. Primero Mining received $2.4 M after the end of the second quarter.

ON EXPLORATION

  • Golden Minerals Co. announced that Electrum Global Holdings L.P. received results of drilling on Golden’s Celaya property in Guanajuato. Results from 5,600 m drilled in seven holes (800 m per hole?) show intercepts of epithermal quartz vein mineralization with Au, Ag, Zn grades that warrant further testing.
  • Alset Minerals Corp. reported partial results from phase one drilling at La Salada salar in Zacatecas, the first of 13 salars to be tested. At La Salada, one deep hole (51.35 m) and 40 auger holes (4.5 – 26.0 m in depth, average 14 m) were completed, both near surface brine samples and extensive lake sediment samples were recovered in the 1,800 m by 900 m salar. Results from five of the holes (the rest are pending) average 14.4 m @ 3.6% K, 975 ppm Li (up to,1860 pm) and 535 ppm B. Water samples average 1.3% K, 1.6% SO4, 258 ppm B, 9 ppm Li, 57 ppm Ca, 36 ppm Mg.
  • Oceanus Resources Corp. presented assay results from sampling at old underground exploration tunnels from the unmined Protectora, Aguilas, Fundadora and Caleigh veins on its El Tigre project in Sonora. The rock chip samples are said to be at least 0.5 m in width (no average width disclosed), and collected every 3-5 m along strike in 13 exploration tunnels. Average results include 3 samples on the Caleigh vein @ 19.9 g/t Au, 2,247 g/t Ag; On the Protectora vein: 20 samples @ 0.2 g/t Au, 437 g/t Ag; 18 samples @ 1.3 g/t Au, 290 g/t Ag; 4 samples @ 2.8 g/t Au, 337 g/t Ag; 16 samples @ 2.2 g/t Au, 473 g/t Ag; 5 samples @ 2.8 g/t Au, 680 g/t Ag; 19 samples @ 0.6 g/t Au, 480 g/t Ag. On the Fundadora vein: 5 samples @ 6.1 g/t Au, 307 g/t Ag; 12 samples @ 1.2 g/t Au, 254 g/t Ag.
  • Millrock Resources Inc. presented an update in exploration, including information on its three properties in Sonora. The La Navidad project was optioned on June, and immediately entered into a JV with Centerra Gold Inc. Presently underway are soil sampling, geological mapping, induced polarization and magnetic surveys. Also in June El Picacho project was optioned and made a “designated project” on the alliance between Centerra and Millrock. Soil sampling, geological mapping, induced polarization and mag surveys are currently being performed. Los Chinos and Los Cuarenta projects options were terminated by Centerra.

ON MINING

  • United States Antimony Corp. reported major cost reductions at its Mexican antimony smelter, as a result of metallurgical changes while increasing production rates. Production at Wadley, San Luis Potosi, is growing with more miners. USAC intends to use its Los Juarez explosives license at Soyatal, Queretaro, which will save money and time. Guadalupe is undergoing road work to re-establish the production of high-grade concentrates. The application for the cyanide permit for the Los Juarez project was resubmitted to SEMARNAT (EPA equivalent) at the end of July, after one item change requested by the agency.
  • Telson Resources Inc. announced that the first shipment of lead and zinc concentrates processed at the Atocha mill has been delivered to Mercuria Commodities Trading, S.A. de C.V.. As of August 1, 2017, the Company has processed approximately 1600 tonnes of ore through the Atocha toll mill producing approximately 66.1 dry tonnes of lead concentrate and 94.5 dry tonnes of zinc concentrate which have been delivered to Mercuria.
  • Golden Minerals Co. presented financial results for Q2 2017. Approximately $1.7 M revenue was received from the oxide plant lease to Hecla, and costs of $0.5 M to the services provided under the lease, for a net operating margin of $1.1 M. The company spent $0.5 M in exploration related primarily to work at the Santa Maria (Chihuahua), Rodeo (Durango) and other properties, as well as holding costs. Cash and cash equivalents balance of $2.7 M at the end of the period.
  • Torex Gold Resources Inc. reported financial and operational results. At El Limón Guajes mine in Guerrero 74,487 Oz Au were produced, as ramp-up continues, with design throughput achieved in June. Plant throughput was 1.2 M tonnes, or 13,063 tonnes per day (tpd), while mine production was 8.4 M tonnes, or 92,044 tpd. The gold recovery rate was 86% on a 2.37 g/t Au average grade, at cash cost $709 per Oz Au and AISC $991. Cash balance of $77.2 M including restricted cash of $15.7 M at the end of the period.
  • Premier Gold Mines Ltd. announced its operational and financial results for the second quarter of 2017. At Mercedes in Sonora 177.9 K tones were milled (1,954 tpd) @ 4.03 g/t Au, 36 g/t Ag; with recoveries at 94.9% Au, 43% Ag, to produce 21,893 Oz Au, 89.5 K Oz Ag. By-product cash cost per Oz Au was CAD$550 and by-product AISC per Oz Au of CAD$688. Quarter end cash balance of $156.8 M (US$120.9 M).
  • Alio Gold Inc. reported second quarter 2017 results. Production at the San Francisco gold mine was 22,011 ounces during the period, at AISC $954 per Oz Au. The San Francisco mine revitalization plan was initiated and the definitive feasibility study (DFS) after the positive pre-feasibility study (PFS) was released and a CAD$50.4 M bought deal financing was completed. The pre-stripping campaign envisions moving 22 M tonnes of waste from the Main and La Chicharra pits over the next 20 months. Cash and cash equivalents at the end of the period were $35.9 M.
  • Pan American Silver Corp. announced Q2 2017 results, including figures from its operations in Mexico. At Dolores in Chihuahua the construction of the agglomeration plant was completed and development for underground mining advanced, with initial stope ore mining expected to initiate before the end of 2017. At La Colorada mine in Zacatecas production achieved 1,800 tpd rates during the last month of the quarter. At La Colorada 1.73 M Oz Ag, 0.94 K Oz Au were produced at cash cost $3.38 per Ag Oz. At Dolores 1.04 M Oz Ag, 22.44 K Oz Au were produced at cash cost $0.12 and at Alamo Dorado in Sonora 0.26 M Oz Ag, 0.69 K Oz Au were produced at cash cost $11.18. Cash and short-term investments of $198.2 M at the end of the period.
  • Americas Silver Corp. disclosed consolidated financial and operational results for the second quarter of 2017. The figures of its operations in Mexico were informed in a previous release. San Rafael in Sinaloa remains on budget and on time to start production by the end of Q3, 2017. Cash balance at the end of the period was $12.8 M.
  • Primero Mining Corp. reported operating and financial results for the second quarter, 2017, including figures form its Mexican operations. At San Dimas 11,903 Oz Au, 0.97 Oz Ag were produced at cash cost $1,144 per AuEq Oz, and AISC $1,650 per AuEq Oz, with operations being impacted by bad relations with unionized employees. “…the Company believes that labour disruptions may continue to adversely affect the Company’s ability to profitably operate the San Dimas…” and “Primero highlights the significant liquidity risk imposed by the pending RFC maturity date of November 23, 2017, and notes that it may not be able to fully repay its debt obligations…”. Cash stood at $12.1 M and $10.0 M available under its existing revolving credit facility (RFC) at the end of the period, with a $33.5 in VAT and $22.8 M income taxes receivable outstanding.
  • Argonaut Gold Inc. announced its financial and operating results for the second quarter of 2017. The consolidated production was 29,730 AuEq Oz at cash cost $785 and AISC $906 per AuEq ounce. At El Castillo in Durango 2.0 M tonnes of ore @ 0.39 g/t Au and 2.65 M tonnes of waste were moved (51 K tpd) to produce 16,927 Oz Au at cash cost $893 per ounce. At La Colorada in Sonora 1.22 M tonnes of ore @ 0.64 g/t Au and 4.77 M tonnes of waste were moved (66 K tpd) to produce 12,098 Oz Au and 38.2 K Oz Ag at cash cost $590 per AuEq ounce. At San Agustin (10 km from El Castillo) mining commenced during the quarter, leach pad and pond construction was completed and the crushers installed, with ore beginning to be staked on the pad in late June. Construction was 75% complete by the end of July. Cash and cash equivalents stood at $53.8 M at the end of the quarter.

ON FINANCING

  • No relevant news.

ON RESOURCES AND DEVELOPMENT

  • Golden Minerals Co. entered into an agreement to acquire three additional claims at the Santa Maria project in Chihuahua for $0.7 M over four years, with an initial payment of $50 K and $30 K in six months. The targets in these claims are to be tested in an upcoming 2,000 m drill program in the third quarter of 2017, while the environmental study to obtain the permit to perform the 200 tpd underground mining envisaged on the preliminary economic assessment (PEA) has been completed.

ON DEALS AND CORPORATE ISSUES

  • Santacruz Silver Mining Ltd. entered into a definitive agreement to sell 100% interest in the Gavilanes property in Durango to Marlin Gold Mining Ltd. Santacruz is to settle the outstanding balance on some of the claims by making a $500 k payment and issuing 1.25 M Santacruz shares to the property vendor. Gavilanes is a low sulphidation epithermal deposit in the San Dimas mining district with NI-43-101 compliant 6.1 M AgEq indicated ounces (953 K tonnes @ 200 g/t AgEq), and 28.2 M AgEq inferred ounces (5.4 M tonnes @ 163 g/t AgEq).
  • Santacruz Silver Mining Ltd. settled the outstanding balance owing on certain of the claims included in the Gavilanes project (in Sinaloa) by making a cash payment of US$500 K and 1.25 M Santacruz shares.
  • Colibri Resource Corp. completed the acquisition of Canadian Gold Resources Ltd. Colibri acquired all outstanding shares of Canadian Gold for $4 M, paid by way of issuance of 24.2 M shares to the vendor. Colibri now owns 100% interest in Minera Bestep S.A. de C.V., a private Mexican company that holds 100% (no NSR’s) of the Pilar and the Sun properties near Suaqui, in Sonora.
  • McEwen Mining Inc. reported a revised record date for the next semi-annual return of capital instalment of a ½ cent per share which will be distributed to shareholders of record on August 14, 2017. The distribution will be paid on August 17, 2017.

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

On the picture below, vuggy silica fragment within a felsic tuff in Chihuahua. Photo by Jorge Cirett.

Vuggy quartz at Moreno

Alio Gold Provides Second Quarter 2017 Update

http://aliogold.com/investors/news-releases/index.php?content_id=353

August 10, 2017, Vancouver, BC – Alio Gold Inc. (TSX, NYSE AMERICAN: ALO) (“Alio Gold” or the “Company”), today reported its second quarter 2017 results. Production results were previously released on July 6, 2017.  The Company will host a conference call at 11:00am EST today, refer to the end of the release for further details.
Second Quarter Highlights and Recent Developments

  • Gold production of 22,011 ounces at an all-in sustaining cost1 (“AISC”) of $954 per ounce, in line with guidance.
  • Maintained 2017 guidance of 86,000 to 92,000 ounces of gold at AISC less than $1,000 per ounce with 20,000 to 22,000 ounces of production expected in Q3 2017.
  • Initiated Revitalization Plan for the San Francisco Mine following updated NI 43-101 technical report filed in May 2017.
  • Commenced the Definitive Feasibility Study (“DFS”) for the high-grade, high-margin Ana Paula project after positive Pre-Feasibility Study (“PFS”) released.
  • Completed CAD$50.4 million bought deal financing.

Almaden Drills Further New High Grade Mineralisation Within and Outside PFS Pit, Hits 8.40 Meters of 0.35 g/t Gold, 1035.0 g/t Silver and 8.50 Meters of 1.05 g/t Gold and 511.4 g/t Silver

https://www.efe.com/efe/english/news-release/almaden-drills-further-new-high-grade-mineralisation-within-and-outside-pfs-pit-hits-8-40-meters-of-0-35-g/50000339-MULTIMEDIAE_3329093

VANCOUVER, BC–(Marketwired – July 18, 2017) – Almaden Minerals Ltd. (“Almaden” or “the Company”) (TSX: AMM)(NYSE MKT: AAU) is pleased to announce new assay results from Almaden’s ongoing exploration and development program at the Company’s Tuligtic project, Mexico. Results reported today are from drill holes TU-17-494, 495, 496 and 497 drilled on sections 10+500 and 10+775 East. Holes TU-17-494, 495 and 496 intersected significant mineralisation and veining inside or immediately outside of the 2017 PFS pit north of the Main Ixtaca Zone. Hole TU-17-497 expanded the Main Ixtaca Zone to depth. Highlights from these drillholes include the following intercepts:

Hole TU-17-494  SECTION 10+775 EAST Az. 330, Dip -74
18.25 meters @ 0.69 g/t Au and 262.7 g/t Ag Ixtaca North Zone
Including 8.50 meters @ 1.05 g/t Au and 511.4 g/t Ag Ixtaca North Zone
26.00 meters @ 0.19 g/t Au and 346.1 g/t Ag Ixtaca North Zone
Including 8.40 meters @ 0.35 g/t Au and 1035.0 g/t Ag Ixtaca North Zone
Including 4.90 meters @ 0.23 g/t Au and 1704.2 g/t Ag Ixtaca North Zone
Hole TU-17-495  SECTION 10+500 EAST Az. 150, Dip -70
21.00 meters @ 1.57 g/t Au and 49.0 g/t Ag Ixtaca North Zone
Including 1.85 meters @ 10.49 g/t Au and 481.5 g/t Ag Ixtaca North Zone
11.00 meters @ 1.85 g/t Au and 106.5 g/t Ag Ixtaca North Zone
Including 2.20 meters @ 8.13 g/t Au and 498.7 g/t Ag Ixtaca North Zone
26.10 meters @ 0.80 g/t Au and 9.4 g/t Ag Ixtaca North Zone
Including 7.05 meters @ 1.73 g/t Au and 12.6 g/t Ag Ixtaca North Zone
Hole TU-17-496  SECTION 10+775 EAST Az. 330, Dip -85
23.50 meters @ 0.26 g/t Au and 65.8 g/t Ag Ixtaca North Zone
Hole TU-17-497  SECTION 10+775 EAST Az. 150, Dip -55
19.25 meters @ 1.05 g/t Au and 73.5 g/t Ag Main Ixtaca Zone
Including 4.80 meters @ 3.43 g/t Au and 232.1 g/t Ag Main Ixtaca Zone

AMERICAS SILVER CORPORATION PROVIDES AN UPDATE ON THE SAN RAFAEL PROJECT 

http://www.americassilvercorp.com/i/pdf/nr/nr20170717.pdf

TORONTO, ONTARIO – July 17, 2017 – Americas Silver Corporation (TSX: USA) (NYSE “MKT”: USAS) (“Americas Silver” or the “Company”) is pleased to provide a construction update on its 100% owned and fully funded San Rafael development project located in Sinaloa, Mexico.

Budget & Timeline

Construction commenced in early Q4, 2016 with an estimated initial capital expenditure of US $22 million based on the March 30, 2016, San Rafael pre-feasibility study. The initial capital estimate was subsequently reduced to US $18 million due to project optimization related to the mill expansion, refurbishing existing equipment and ramp development, as well as favourable movements in the Mexican peso. As at June 30, 2017, the Company has spent approximately $10.5 million of the revised budget and expects to have sufficient cash on hand and cash flow generated from continuing operations to fund the project development.

Management expects that initial processing of material at the existing Los Braceros mill will occur by mid-September. The initial targeted throughput of 1,500 tonnes per day from the pre-feasibility study is expected early in Q4, 2017. In early 2018, management will evaluate a potential mill expansion based on realized mill throughput of the San Rafael ore, achievable future mining rates and current metal prices.

San Rafael is expected to deliver average annual production of 1 million ounces of silver, 50 million pounds of zinc and 20 million pounds of lead over a 6 plus year mine life at negative all-in sustaining costs based on current reserves and metal prices. The project is expected to have an IRR of greater than 100%, generate substantial free cash flow and provide a step change in the Company’s cash cost and all-in sustaining cost profile in 2018.

Evrim Signs Two-Year Gold Exploration Alliance

http://www.evrimresources.com/s/news-releases.asp?ReportID=797132

Vancouver B.C. – July 17, 2017. Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) announced the signing of a two-year Exploration Alliance agreement (the “Alliance”) with a wholly-owned subsidiary of Newmont Mining Corporation (“Newmont”). The Alliance will focus on generating Greenfield exploration opportunities in terranes favorable for world-class gold orebodies. Evrim and Newmont will co-fund the US$1,840,000 exploration program through a respective 30:70 funding allocation.

During the initial phase of the program, Evrim will undertake project identification, sampling and reconnaissance mapping with technical input from Newmont. The program will be further advanced by regional database compilation and target area geochemistry including Newmont’s proprietary bulk leach extractable gold (“BLEG”) analysis. The second year program will be dependent on results obtained during the initial phase along with follow-up mapping and sampling.

ALIO GOLD PROVIDES Q2 2017 UPDATE

http://aliogold.com/_resources/news/nr_20170706.pdf

July 6, 2017, Vancouver, BC – Alio Gold Inc (TSX, NYSE MKT: ALO) (“Alio Gold” or the “Company”), formerly Timmins Gold Corp., is pleased to report preliminary production results from its 100% owned San Francisco Mine in Sonora, Mexico for the Company’s second quarter (“Q2”) ended June 30, 2017.
“The San Francisco mine had another strong quarter, exceeding the upper end of our production guidance range of 20,000 to 22,000 ounces for Q2 with 22,011 ounces produced and 21,495 ounces sold,” said Greg McCunn, Chief Executive Officer. “Our balance sheet remained strong throughout the quarter with approximately $35 million in cash on hand as at June 30, 2017, as we continued to invest the majority of the cash flow from operations into advancing our high-grade, low cost Ana Paula Project in Guerrero, Mexico. With the  recently announced CAD$50 million equity financing expected to close on or about July 20, 2017, our balance sheet will be further strengthened, allowing us to continue to advance the development at Ana Paula, including completion of a definitive feasibility study, change of land use permitting, surface exploration drilling and development of an underground decline for exploration below the proposed open pit.”

Evrim’s Partner Harvest Gold Supports Presence of High-Grade Gold and Silver Values at Cerro Cascaron

http://www.evrimresources.com/s/news-releases.asp?ReportID=792796

Vancouver B.C. — June 15, 2017. Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is pleased to announce sample results from Harvest Gold Corp.’s (“Harvest”) (TSX.V:HVG) due diligence visit to the Cerro Cascaron gold-silver project (“Project”) in Chihuahua, Mexico. Harvest will have the right to earn up to an 80% interest in the Project by incurring certain exploration expenditures, making cash and share payments and delivering a 43-101 compliant feasibility study.

Harvest’s geological consultant, Mr. David Bent, P. Geo. visited a large area of the Project and took nine rock samples from both the main vein field and the recently discovered La Cascarita target, a silver-rich breccia structure located five kilometres west of the currently defined main gold field. The rock sample results support previous sample values taken by Evrim.

ALIO GOLD FILES UPDATED TECHNICAL REPORTS

http://aliogold.com/_resources/news/nr_20170609.pdf

June 9, 2017, Vancouver, BC – Alio Gold Inc (TSX, NYSE MKT: ALO) (“Alio Gold” or the “Company”), formerly Timmins Gold Corp., announced today that it has filed an updated NI 43-101 compliant technical report for the high-grade, high-margin Ana Paula project on the highly prospective Guerrero Gold Belt, Mexico. The report is available on http://www.sedar.com and the Company’s website.

The results of the Ana Paula Pre-Feasibility Study issued June 7, 2017 incorporates non-material changes requested by the British Columbia Securities Commission as part of a routine review. The June 7th technical report entitled “Preliminary Feasibility Study” and labelled Revision 1 by M3 Engineering supersedes the original report dated May 26, 2017 (Revision 0).

Bacanora Announces Formal Appointment of Non-Executive Directors

http://www.marketwatch.com/story/bacanora-announces-formal-appointment-of-non-executive-directors-2017-06-09-91602253

CALGARY, ALBERTA, Jun 09, 2017 (Marketwired via COMTEX) — CALGARY, ALBERTA–(Marketwired – June 9, 2017) – BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (BCN)(aim:BCN), the Canadian and London listed lithium exploration and development company, is pleased to announce the formal appointment of Dr. Andres Antonius and Mr. Junichi Tomono to the Board as Non-Executive Directors.

As noted in the announcement dated 15 May 2017, following approval by the Board of Bacanora the appointments were subject to the completion of standard regulatory reviews in accordance with the AIM Rules for Companies. These reviews have now been completed. As a result, the appointment to the Board of both Dr. Antonius, a Mexican national who has held positions in the Government of Mexico, the private sector and academia, and Mr. Tomono, head of the Speciality Metals and Alloys department of leading Japan-based global trading company Hanwa Co., LTD. (“Hanwa”), will now take full effect. There are no additions or changes to the information disclosed on Dr. Antonius and Mr. Tomono in the announcement dated 15 May 2017 which is required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.