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

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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.

Telson Mining Corporation Releases First Quarter 2018 Pre-Production Results from the Campo Morado Mine

TelsonMining_18042018

Telson Mining Corporation (“Telson” or the “Company”) (TSX Venture: TSN.V)(OTCBB: SOHFF)(Frankfurt: TSGN.F)(Shares Issued: 125,726,075) is pleased to present pre-production results of development mining, concentrate production and metallurgical balances for the first three months of 2018 at its 100% owned Campo Morado Mine (“Campo Morado” or the “Project”) located in Guerrero State, Mexico.

Sonora Project Update

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Bacanora Lithium plc (AIM: BCN), the London listed lithium company, is pleased to provide an update on ativities at its flagship Sonora Lithium Project in Mexico (‘Sonora’ or ‘the Project’). This update is in line with the Company’s objective to commence the construction of a 35,000 tpa lithium carbonate operation at Sonora in H1 2018, targeting first production in Q1 2020. A recently completed Feasibility Study (‘FS’) demonstrated Sonora’s potential to become a leading supplier of high value lithium products to fast-growing industries, such as electric vehicles and energy storage. The FS demonstrated strong economics of US$1.25billion NPV; 26.1% IRR; and life of mine gross operating costs of US$3,910/t Li2CO3 , which are comparable to those of the low cost brine producers of South America.

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

 

By Miguel A Heredia

During the 13th week of the year (March 26th to April 1st, 2018), at least 20 press release were announced by companies working in Mexico, with eight releasing exploration results, five reporting resources & developments, four communicating deals and corporate issues, and two announcing financing. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Sonora, Oceanus increased its land package at its El Tigre project, Azure reported drill-out results on its Oposura project, Aztec Minerals acquired additional ground adjacent to its Cervantes project, and San Marco reported results on its Chunibas project. In Coahuila, Prize Mining received a technical report on its Manto Negro property. In Zacatecas, Advanced Gold commenced exploration work at its Tabasquena project. First Majestic reported exploration results at its six operating Mexican mines. In Hidalgo, Prospero presented drill results at its Pachuca SE project. In Veracruz, Mexican Gold reported exploration results on its Las Minas project.  ON MINING, Premier Gold reported 2017 Q4 and full year results. First Majestic reported annual 2017 production results at its Mexican operations. ON FINANCING, Almaden closed a private placement for $5.6M, and Mexican Gold announced its intentions to complete a $1M non-brokered private placement, which could be increased up to $1.25M.  ON RESOURCES AND DEVELOPMENT, Premier Gold updated mineral reserves and mineral resources at its Mercedes Mine in Sonora.  First Majestic updated to 2017 mineral reserve and resources estimates at its Mexican operations. Argonaut announced updated mineral reserves and technical reports at its Mexican operations. Endeavour provided an update on its Terronera property in Jalisco. Mag Silver reported 2017 annual results. ON DEALS AND CORPORATE ISSUES, Orla announced a Director appointment (Camino Rojo, Zacatecas). Starcore announced an update of its corporate strategy (San Martin, Queretaro).

ON MEXICO ISSUES

  • No relevant news

ON EXPLORATION

  • Oceanus Resources Corporation, increased its land position at El Tigre project in Sonora by 20%, to a total land package of 26,307 hectares. With this, the company covers the southeastern extension along strike of the El Tigre Formation for additional 5km toward the Lluvia de Oro prospect.
  • Aztec Minerals Corp., won a government land lottery to acquire additional ground at its Cervantes project in Sonora. The company has now expanded its land position to 3,649 hectares, covering six historic mineral prospects and/or gossan zones that represent high priority porphyry-type targets. Aztec plans to map and sample these areas this year after completing the current drill program.
  • Azure Minerals Limited, reported drill-out results on its Oposura project in Sonora. Significant results were 5.50m of 150 g/t Ag, 3.4% Pb , and 17.5% Zn; 9.6m of 71 g/t Ag, 4.5% Pb, and 13.8% Zn; 7.25m of 29 g/t Ag, 4.6% Pb, and 9.3% Zn; 3.42m of 24 g/t Ag, 8.7% Pb, and 10.6% Zn; 7.45m of 16 g/t Ag, 6.6% Pb, and 10.4% Zn; and 5.4m of 31 g/t Ag, 11.6% Pb, and 4.4% Zn.
  • San Marco Resources., developed a mineralization model at its Chunibas project in Sonora, which consists of stratiform volcanic hosted Cu-Ag mineralization. This model will help to prepare a drill program to test the Cu-Ag mineralization. Ongoing exploration in preparation for drilling includes detailed mapping, hand trenching and XRF rock analysis.
  • Prize Mining Corporation, received a technical report on its Manto Negro Oxide Copper project in Coahuila, which includes a review of the regional and local geology, mineralization types and grades, exploration history and results, overall mineral potential and recommendations for further work.
  • Advanced Gold Corp., commenced underground sampling of the first 100m at its Tabasquena Silver Mine in Zacatecas, on the oxidized zone of the Tabasquena vein as well as on the sulphide zone at the bottom of the shaft. Based on these results, the company will prepare a drill program to test the sulphide portion of the vein as well to explore for additional parallel veins.
  • First Majestic Silver Corp., announced exploration results at its six Mexican operations. The company drilled 156,540m during 2017 resulting in multiple discoveries with the most significant results at Cerro de Santiago in La Parrilla Durango, and El Ermitaño West in Santa Elena, Sonora. Cerro Santiago hosts a system of 0.3 to 3.0m wide quartz-calcite-fluorite vein and breccias hosted in Cretaceous limestones, while Ermitaño West consist of massive and banded quartz epithermal vein and stockwork mineralization. First Majestic has plans to drill approximately 183,000m across its core Mexican assets during 2018.
  • Prospero Silver Corp., announced results of the third hole collared at its Pachuca SE project in Hidalgo. This hole intersected multiple structures hosted in volcanic altered rocks with anomalous values associated. Significant results were 1.5m of 0.37 g/t Au and 121 g/t Ag from 407.4m downhole, including 0.20m of 870 g/t Ag.
  • Mexican Gold Corp., revealed that prospectors of the company re-discovered several historical gold mines at Pueblo Nuevo mining district located 3.5km away of its Las Minas project in Veracruz. Mineralization at Pueblo Nuevo consists of multiple gold-bearing mesothermal quartz veins hosted by the same dioritic intrusion present at Las Minas.

ON MINING

  • Premier Gold Mines Limited., reported 2017 Q4 and full year results on its Mercedes Mine in Sonora. On Q4 2017, Premier milled 182.5K tonnes @52 g/t Au & 40 g/t Ag to produce 19.9K Oz Au and 77K Oz Ag, milling 683.5K tonnes  @ 3.93 g/t Au & 37.6 g/t Ag during 2017, for a total annual production of 82.5K Oz Au and 339K Oz Ag. The company also announced its exploration plan for 2018 which will be focused on exploring extensions to mineralization along strike of the main mine trend and test new geological targets to expand resources close to existing workings.
  • First Majestic Silver Corp., reported annual 2017 production results at each of its six Mexican operations. At Santa Elena, Sonora, 927K tonnes were processed to produce 2.3 M Oz Ag, at La Encantada, Coahuila, 825K tonnes to produce 2.2M Oz Ag,  at La Parrilla, Durango, 544K tonnes to produce  7M Oz Ag, at Del Toro, Zacatecas, 278K tonnes to produce 1.1M Oz Ag, at San Martin, Jalisco, 278K tonnes to produce 1.8M Oz Ag, and at La Guitarra, Estado de Mexico, 128K tonnes to produce 611K Oz Ag. First Majestic processed 2.98 M tonnes during 2017, for an annual production of 9.75 M Oz Ag.

ON FINANCING

  • Almadex Minerals Limited, closed a non-brokered private placement for $5.6 M. Total gross proceeds will be used to continue drilling at its El Cobre project in Veracruz.
  • Mexican Gold Corp., announced its plans to completes a $1M non-brokered private placement, which could be increased up to $1.25M. Total proceeds would be used to continue exploration at its Las Minas project in Veracruz.

ON RESOURCES AND DEVELOPMENT

  • Premier Gold Mines Limited, updated mineral reserves and mineral resources as of December 31, 2017 at its Mercedes Mine in Sonora. Total proven + probable reserves are 3.29M tonnes @94 g/t Au & 24 g/t Ag, for a total of 417K Oz Au and 2.6M Oz Ag. Total measured + indicated resources are 3.68M tonnes @ 4.32 g/t Au & 44 g/t Ag, for a total of 511K Oz Au and 5.2M Oz Ag while inferred resources are 1.63M tonnes @ 4.2 g/t Au & 34 g/t Ag, for a total of 222K Oz Au and 1.8M Oz Ag. Premier increased 34% of its measured and indicated resources to 511K Oz Au at 4.32 g/t and 23% of its inferred mineral resources to 220K Oz Au at 4.2g/t. With this, the company replaced 18 months of mining gold reserves at its Mercedes Mine.
  • First Majestic Silver Corp., updated mineral reserve and resources estimate as of December 31, 2017 at each of its six Mexican operations. Total proven + probable reserves at Santa Elena, Sonora are 5.2 M tonnes of 1.29 g/t Au and 84 g/t Ag, for a total of 215.8 K Oz Au and 14 M Oz Ag, at La Encantada, Coahuila are 6.8M tonnes of 143 g/t Ag and 0.28% Pb, for a total of 31.4 M Oz Ag, at La Parrilla, Durango are 1.6M tonnes of 195 g/t Ag, 1.2% Pb, and 1.2% Zn, for a total of 9.9M Oz Ag, at San Martin, Jalisco are 2.3M tonnes of 0.36 g/t Au and 255 g/t Ag, for a total of 26K Oz Au and 18.8M Oz Ag, at Del Toro, Zacatecas are 1.2M tonnes of 0.15 g/t Au, 159 g/t Ag, 3.4% Pb and 2.5% Zn, for a total of 5.8K Oz Au and 6.1M Oz Ag, and at La Guitarra, Estado de Mexico are 917K tonnes of 1.27 g/t Au and 242 g/t Ag, for a total of 37.4K Oz Au and 7.1M Oz Ag. On its six Mexican operations, First Majestic estimated proven + probable reserves of 18M tonnes of 0.5 g/t Au, 151 g/t Ag, 0.44% Pb and 0.27% Zn, for a total of 287.2K Oz Au and 87.4M Oz Ag.

Total measured + indicated resources at Santa Elena are 4.6M tonnes of 1.62 g/t Au and 106 g/t Ag, for a total of 241K Oz Au and 15.8M Oz Ag,  at La Encantada are 6.2M tonnes of 163 g/t Ag and 0.48% Pb,  for a total of 32.4M Oz Ag,  at La Parrilla are 1.7M tonnes of 212 g/t Ag, 1.24% Pb and 1.26% Zn, for a total of 11.7M Oz Ag, at San Martin are 2.6M tonnes of 0.4 g/t Au and 267 g/t Ag, for a total of 33.1K Oz Au and 22.3M Oz Ag, at Del Toro are 1.4M tonnes of 0.23 g/t Au, 195 g/t Ag, 4% Pb and 3.2% Zn, for a total of 10.2K Oz Au and 8.5M Oz Ag, and at La Guitarra are 812 tonnes of 1.53 g/t Au and 292 g/t Ag, for a total of 39.8K Oz Au and 7.6M Oz Ag. First Majestic estimated measured + indicated resources for  17.3M tonnes of 0.59 g/t Au, 177 g/t Ag, 0.6% Pb, and 0.4% Zn, for a total of 326.6K Oz Au and 98.3M Oz Ag on its six Mexican operations.

Total inferred resources at Santa Elena are 4.4M tonnes of 3.38 g/t Au and 77 g/t Ag, for a total of 481.4K Oz Au and 11M Oz Ag, at La Encantada are 2.2M tonnes of 164 g/t Ag, for a total of 11.4M Oz Ag, at La Parrilla are 2.6M tonnes of 225 g/t Ag, 1.42% Pb and 1.8% Zn, for a total of 19M Oz Ag, at San Martin are 2.5M tonnes of 266 g/t Ag, for a total of 21.4M Oz Ag,  at Del Toro are 1.5M tonnes of 192 g/t Ag, 4.5% Pb and 1.7% Zn, for a total of 9.4M Oz Ag, at La Guitarra are 500K tonnes of 1.24 g/t Au and 276 g/t Ag, for a total of 19.8K Oz Au and 4.4M Oz Ag, and at  La Joya, Zacatecas are 27.9M tonnes of 0.28 g/t Au and 58 g/t Ag, for a total of 251.4K Oz Au and 51.6 M Oz Ag. First Majestic estimated inferred resources on its six Mexican operations for 41.7M tonnes of 0.57 g/t Au, 96 g/t Ag, 0.3% Pb, and 0.2% Zn, for a total of 765.8K Oz Au and 128.3 M Oz Ag.

  • Argonaut Gold Inc., announced updated mineral reserves and technical reports at its Mexican operations as at July 1, 2017. Total proven +probable reserves at El Castillo Complex, Durango are 121.3 M tonnes of 0.34 g/t Au and 10.2 g/t Ag, for a total of 1.3M Oz Au and 26.2 M Oz Ag. Total measured and indicated resources are 160.3M tonnes of 0.31 g/t Au and 9.6 g/t Ag, for a total of 1.6M Oz Au and 30M Oz Ag. Total inferred resources are 12.5M tonnes of 0.23 g/t Au and 9 g/t Ag, for a total of 91K Oz Au and 3.2M Oz Ag.

Total  probable reserves at La Colorada, Sonora are 20.7M tonnes of 0.65 g/t Au and 11.5 g/t Ag, for a total of 435K Oz Au and 7.6M Oz Ag. Total indicated resources are 31.2 M tonnes of 0.6 g/t Au and 10.4 g/t Ag, for a total of 603K Oz Au and 10.4 M Oz Ag. Total inferred resources are 1.9M tonnes of 0.78 g/t Au and 47 g/t Ag for a total of 47K Oz Au and 648K Oz Ag.

Argonaut also filed Technical Reports for the El Castillo Complex and the La Colorada Mine.

  • Endeavour Silver Corp., conducted several engineering trade-off studies at its Terronera property in Jalisco, to refine the operating parameters and optimize the economic performance of the project. Highlights include a throughput of 1,500 tonnes per day, with an annual production of 5M Oz Ag Eq at a grade of 300 g/t Ag Eq. Endeavour also announced that a 5,400m drill program is testing the southeast extension of the Terronera vein and the Quiteria vein at depth below the Quiteria mine. Also, a new infill drill program of up to 10,000m in up to 25 holes was approved to upgrade the inferred resources to indicated resources mainly at depth in the Terronera vein and to a lesser extent in the La Luz vein.
  • Mag Silver Corp., presented 2017 annual results. The company announced that a 20,000m exploration drilling program is ongoing at its Juanicipio project to test new targets and to upgrade Inferred Mineral Resources in the Deep Zone to Indicated Mineral Resources at its Juanicipio project in Zacatecas. A FS is expected to be completed by Q2 2018.

ON DEALS AND CORPORATE ISSUES

  • Orla Mining Ltd., announced that Mr. David Stephen has been appointed to the Board of Directors of the company (Camino Rojo, Zacatecas).
  • Starcore International Mines Ltd., provided an update of its corporate strategy, which will consists in focusing on production assets in Mexico. Starcore also announced its intention to sell its El Creston Moly deposit in Sonora and that has extended the review period for its exclusive option to acquire Santa Fe project in Sinaloa (San Martín, Queretaro).

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 silicified rhyodacitic flow, with strong quartz vein stockworking in a prospect in Sinaloa State, Mexico. Photo by Miguel A Heredia.

MAG Silver Reports 2017 Annual Results

mag silver reports 2017 annual results

Vancouver, B.C. MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or the “Company”) announces the Company’s audited consolidated financial results for the year ended December 31, 2017. For details of the consolidated financial statements, Management’s Discussion and Analysis, Annual Information Form and Annual Report on Form 40-F for the year ended December 31, 2017, please see the Company’s filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov).

Endeavour Silver Updates Progress on Terronera Silver-Gold Mine Project in Jalisco, Mexico

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VANCOUVER, British Columbia, March 27, 2018 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (NYSE:EXK) (TSX:EDR) provides herein an update on its Terronera silver-gold mine project, located in Jalisco state, Mexico. Since the release of the initial Pre-Feasibility Study (“PFS”) one year ago (see Endeavour News Release dated April 3, 2017), Endeavour has conducted a number of engineering trade-off studies to refine the operating parameters and optimize the economic performance of the project.