Environmental Approval forSonora Lithium Project, Mexico and Update

http://ir1.euroinvestor.com/IR/Files/RNSNews/255092/BacanoraMinerals_13711546.pdf

Bacanora, the London and Canadian listed (AIM: BCN, TSXV: BCN) lithium exploration and development company, is pleased to announce that the Environmental Impact Statement, the Manifestacion de Impacto Ambiental (‘MIA’), for its flagship Sonora Project (‘Sonora’ or the ‘Project’) in Mexico has been approved by SEMARNAT, the Environment Ministry of Mexico. The Company is also pleased to provide an update on its ongoing Feasibility Study (‘FS’) for a 35,000 tonnes perannum lithium carbonate operation atSonora, which on course forcompletion in late 2017.
Overview
· MIA approval received for a 35,000tpa lithium carbonate operation at Sonora, following completion of comprehensive environmental and social baseline studies carried out over the site during a two year period
· Approval represents a major milestone for Bacanora and is in line with its strategy to construct an open-pit mine and a large scale beneficiation processing facility at Sonora
· FS expected to confirm Sonora occupies a favourable position in the industry cost curve due to:
o Planned open pit mining operations
o Development of a conventional beneficiation process followed by a standard SO4
roasting process that has been de-risked by the Project’s pilot plant which has continuously produced batery grade lithium since May 2016
o Free digging lithium deposit which removes the need for the lithium ore to be drilled, blasted, crushed and ground prior to processing as is the case with hard rock
o Ability to re-cycle Na2SO4 into the roaster negates the requirement to purchase expensive sulphuric acid as a sulphate SO4 source
· Sonora has an Indicated Mineral Resource (established in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects(“NI-43-101”) of 4.5 million tonnes LCE[1] and 2.7 million tonnes Inferred[2] and Probable Mineral Reserves (based upon the 2016 PFS[3]) of 2.1million tonnes LCE.

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

During the 41st week of the year (October 9th to October 15th, 2017), at least 24 press releases were announced by companies working in Mexico, including seven quarterly reports. ON MEXICO ISSUES: The Secretaría de Economía announced the liberation of over 195 K hectares of ground for staking. ON EXPLORATION: Eight companies disclosed exploration efforts during the week: In Sonora, Azure Minerals is about to start drilling its Oposura and Sara Alicia projects; Canuc Resources released underground and surface rock sampling results from its San Javier project; Colibri Resource released an exploration update of its Evelyn project; Silver Viper is drilling its Clemente project. In Sinaloa Chesapeake Gold commenced a 5,000 m drilling program focused in two prospects on its Yarely project. In Coahuila, Discovery Metals received the environmental permit to drill five of its projects; Silver Bull Resources released the results from the first two underground holes to test high grade structural feeders at its Sierra Mojada project. ON MINING: Endeavour Silver, Capstone Mining, Leagold Mining, Great Panther Silver, Alamos Gold, Gogold Resources and Alamos Gold reported preliminary third quarter results. Torex Gold signed a 25 year land agreement with the Puente Balsas Sur Ejido, needed for the exploration and operation of its Media Luna project in Guerrero. Telson Resources received the environmental permit for mine and related infrastructure on its Tahuehueto project in Durango.  ON FINANCING: Colibri Resources settled a $10 K debt by issuing shares to one of its directors. Sierra Metals entered into an open market agreement with a consortium to raise up to $55 M on the NYSE market. Fortuna Silver’s CEO bought approximately US$430 K shares of the company in the open market. Oroco Resources intends to complete a non-brokered private placement to raise up to $600 K. ON RESOURCES AND DEVELOPMENT: Fortuna Silver released exploration results from its San Jose property in Oaxaca, including high-grade drilling results. ON DEALS AND CORPORATE ISSUES: No Relevant news.

ON MEXICO ISSUES

  • The Secretaría de Economía (Bureau of Economy) released the long due and eagerly awaited second release of previously held land of 2017, ground that is now going to be open for mining concession applications. Over 44 K hectares of reduced land (from eleven concessions), 131 K hectares of abandoned concessions (95) and almost 20 K hectares of cancelled concessions (96) are to be available in one month for staking by individuals and corporations.

ON EXPLORATION

  • Azure Minerals Ltd. is about to start drilling at its Oposura and Sara Alicia projects in Sonora. The environmental permit has been granted for both projects. At Oposura a total of 7,000 m of drilling is planned in 120 holes on a 1,400 by 400 m area. At Sara Alicia geological mapping, rock chip channel sampling, gridded soil sampling, and initial target identification has been completed. A zone of high grade gold and cobalt with samples of up to 39 g/t Au and up to 6% Co has been identified and is to be drill tested with 5-6 holes for a total of 450-500 m of diamond core.
  • Canuc Resources Corp. reported high grade silver and gold from recent sampling of underground workings, and from the surface of the Carranza breccia zone at its San Javier project in Sonora. “Road construction, trenching and drill platform preparation have been completed and surface mapping and sampling are ongoing.” The focus is on the breccia zones found at the intersections of the two fault trends. Results include 0.5 m @ 10.3 g/t Au, 250 g/t Ag; 0.5 m @ 8.0 g/t Au, 246 g/t Ag; 1.23 m @ 6.0 g/t Au, 174 g/t Ag; 1.2 m @ 10.5 g/t Au, 220 g/t Ag; 1.6 m @ 9.5 g/t Au, 150 g/t Ag; 1.6 m @ 11.3 g/t Au, 100 g/t Ag; 0.9 m @ 5.1 g/t Au, 17,200 g/t Ag; 1.3 m @ 1.9 g/t Au, 6,230 g/t Ag; 1.4 m @ 2.0 g/t Au, 2,395 g/t Ag; 0.7 m @ 1.6 g/t Au, 150 g/t Ag; 2.5 m @ 1.1 g/t Au, 600 g/t Ag; 3.0 m @ 1.2 g/t Au, 470 g/t Ag.
  • Chesapeake Gold Corp. commenced a 5,000 m diamond drill program at its 68,000 has Yareli project in Sinaloa. The phase I program is to focus on the Central and Loretos prospects. “At Central prospect Initial drill holes will test the four subparallel north – northwest trending stockwork structures up to one kilometre in length and associated extensive breccia bodies..” At Loretos three widely spaced holes are planned to test the west side of a “V” shaped IP anomaly which is over 3 km long and one km wide.
  • Colibri Resource Corp. released a report on its 506 hectare Evelyn project in Sonora. Geological and structural mapping, as well as rock chip sampling were conducted. The property is underlain by Jurassic rhyolites, andesites and sandstones. Prospects highlighted include the Mine Working shear zone, the Cerro Rojo Fault and the Quartz Vein Swarm. Of 74 samples collected, 33 returned values greater than 0.1 g/t Au.
  • Discovery Metals Corp. received drill permits for five of its projects from the Mexican environmental regulator, SEMARNAT. These permits cover the La Kika, Renata, Santa Rosa, La Minerva, and Jemi-Rare projects in northern Coahuila.
  • Silver Bull Resources Inc. provided the results from two drill holes of its underground drill program targeting high-grade structures at its Sierra Mojada project in Coahuila. The first hole intersected 7 m @ 121 g/t Ag, 0.52% Cu, including 2 m @ 376 g/t Ag, 3.0% Cu. The second hole intersected 25.5 m @ 294 g/t Ag, 0.96% Cu, including 11.5 m @ 486 g/t Ag, 1.13% Cu and 4 m @ 966 g/t Ag, 2.0% Cu, with the hole entering and ending in an unmapped working. The results confirm the East-West continuity of the first of three structures to be drilled.
  • Silver Viper Minerals Corp. is performing a 2,000 m drilling program at its Clemente project in Sonora. The diamond drilling is designed to target the down dip projection of the steep dipping quartz shear vein and adjacent quartz veining observed in accessible historical mine workings.

ON MINING

  • Endeavour Silver Corp. reported production results for the third quarter 2017. At Guanaceví in Durango, 74.6 K tonnes were produced at a rate of 811 tonnes per day (tpd) @ 250 g/t Ag, 0.57 g/t Au and recoveries of 87.2% Ag, 89.5% Au, to produce. 522.9 K Oz Ag, 1,224 Oz Au. At Bolañitos, in Guanajuato, 114.5 K tonnes were produced at a rate of 1,245 tpd @ 85 g/t Ag, 2.15 g/t Au and recoveries of 81.1% Ag, 82.4% Au, to produce 253.8 K Oz Ag, 6,523 Oz Au. At El Cubo in Guanajuato, 133.6 K tonnes were produced at a rate of 1,452 tpd @ 135 g/t Ag, 1.35 g/t Au and recoveries of 83.7% Ag, 83.3% Au, to produce 485.4 K Oz Ag, 5,901 Oz Au. In July the production decision was made on El Compas project in Zacatecas. In August were received the permits for the mine and plant at Terroneras, Jalisco. Pending are the permits for the waste dumps and tailings areas.
  • Torex Gold Resources Inc. signed a long term, common land lease agreement with the Puente Sur Balsas Ejido for the use of the land required for the exploration, construction and mining of minerals at its Media Luna project in Guerrero. The 25 year agreement can be revoked at the company’s discretion, with one year’s notice.
  • Telson Resources Inc. received the environmental permit (MIA) authorizing the construction of a mineral processing facility, related mining facilities, plus infrastructure and necessary underground development at its Tahuehueto project in Durango.
  • Capstone Mining Corp. announced production results for the quarter terminating at the end of September 2017. At Cozamin higher throughput than planned saw 223.8 K tonnes mined from underground and 223.4 K tonnes processed at a rate of 2,429 tpd, averaging 1.98% Cu, 0.8% Zn, 0.08% Pb, 42 g/t Ag; recoveries stood at 96.1% Cu, 65.7% Zn, 7.0% Pb, 79.7% Ag, to produce 15,688 tonnes of Cu concentrate, 2,463 tonnes of Zn concentrate and 20 tonnes of lead concentrate.
  • Leagold Mining Corp. disclosed Q3 2017 gold production at the Los Filos mine in Guerrero. During the period the Los Filos mine produced 47,766 Oz Au.
  • Great Panther Silver Ltd. released production results for the third quarter 2017. At the Guanajuato Mine Complex in Guanajuato, 76.1 K tonnes were milled @ 155 g/t Ag, 2.54 g/t Au; with recoveries of 89.8% Ag, 88.1% Au, to produce 341.6 K Oz Ag, 5,471 Oz Au. At Topia in Durango, 18 K tonnes were milled @ 362 g/t Ag, 0.97 g/t Au; with recoveries of 91.1% Ag, 67.1% Au, to produce 191.2 K Oz Ag, 377 Oz Au.
  • Alamos Gold Inc. reported production for the third quarter 2017, including figures from its Mexican operations. At Mulatos (including La Yaqui) 36,300 Oz Au were produced, and 14,900 Oz Au at El Chanate, both in Sonora.
  • GoGold Resources Inc. announced production for the quarter terminated at the end of September 2017. At its Parral tailings operation 353.4 K Oz Ag were produced. An improvement on the recoveries by changing agglomeration and heap parameters can be seen in the graphic below.
  • Hecla Mining Co. reported preliminary production results for the third quarter 2017, including figures from its Mexican operations. At San Sebastian in Durango, the mill operated at 397 tpd to produce 880.9 K Oz Ag, 8,199 Oz Au.

ON FINANCING

  • Colibri Resources Corp. has issued shares in the amount of $10,000 to settle an outstanding indebtedness due to Ed Stringer, a director of the company (Evelyn, Sonora).
  • Sierra Metals Inc. entered into an open market Sale Agreement with Jefferies LLC, C. Wainwright & Co, LLC Scotia Capital (USA) Inc. and Noble Capital Markets Inc., on which the company may during the term of the agreement sell common shares in the NYSE up to the amount US$55 M in gross proceeds. No common shares will be offered or sold in Canada (Cusi and Bolivar mines, both in Chihuahua).
  • Fortuna Silver Mines Inc. announced that Jorge A. Ganoza, CEO of the company increased his equity position in Fortuna by acquiring 131,800 common shares on the open market, valued at close to US$430 K. (San Jose, Oaxaca).
  • Oroco Resource Corp. intends to complete a non-brokered private placement to raise up to $600 K of gross proceeds (Xochilapa, Guerrero).

ON RESOURCES AND DEVELOPMENT

  • Fortuna Silver Mines Inc. updated exploration efforts at its San José mine in Oaxaca, where four rigs are testing the Trinidad-Bonanza-Stockwork complex, the Trinidad North Extension and the sub-parallel Victoria vein (formerly Ocotlan vein). Relevant estimated true width intercepts (TW) comprise 4.1 m @ 247 g/t Ag, 1.8 g/t Au; 21.0  m @ 153 g/t Ag, 0.9 g/t Au; 3.6 m @ 281 g/t Ag, 1.2 g/t Au; 4.5 m @ 356 g/t Ag, 3.5 g/t Au; 3.7 m @ 1,106 g/t Ag, 6.3 g/t Au in the Victoria vein, and 6.7 m @ 218 g/t Ag, 1.3 g/t Au; 2.2 m @ 195 g/t Ag, 1.1 g/t Au; 2.2 m @ 195 g/t Ag, 1.1 g/t Au at the Trinidad/Bonanza veins and Stockwork.

ON DEALS AND CORPORATE ISSUES

  • No Relevant News.

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, secondary copper minerals around a quartz veinlet with oxidized sulfides, which is cutting an intrusive rock on a prospect of the Durango Altiplano. Photo by Jorge Cirett.

BlackCopper

AMERICAS SILVER CORPORATION ANNOUNCES FIRST SHIPMENTS OF SAN RAFAEL CONCENTRATES 

http://www.americassilvercorp.com/i/pdf/nr/nr20171003.pdf

TORONTO, ONTARIO—October 3, 2017— Americas Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas Silver” or the “Company”) is pleased to announce that first processing of ore from its San Rafael
Project occurred in the last week of September, 2017 from development stockpiles.  The first lead and zinc  concentrates produced from the Company’s newly modified Los Braceros Mill have been shipped to the  Port of Manzanillo from the Cosalá Operations in Sinaloa, Mexico.
The  reconfigured  flotation  circuit  at  the  Los  Braceros  Mill  has  been  successfully  commissioned.  Initial milling rates, metal recoveries and concentrate grades are meeting expectations and approaching steady‐ state targets set out in the April 2016 San Rafael Pre‐Feasibility Study.  The Company expects San Rafael to  be the sole source of mill feed by the end of November, 2017 with commercial production expected before  the end of the fourth quarter.  Five development headings are currently accessing ore in the southern lobe  of the Main Zone at San Rafael and will be stockpiled while the existing Nuestra Señora ore is processed.
The Nuestra Señora mine is expected to be put on care and maintenance by the end of Q1 2018, although  additional material is available to supplement mill feed, if required.

Highlights on the Fourth Week of September, 2017. Mineral Exploration in Mexico

During the 39th week of the year (September 25th to October 1st, 2017), at least 22 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, No relevant news. ON EXPLORATION, in Sonora, San Marco continues to define the footprint of a porphyry copper system at its 1068 project. In Chihuahua, Kootenay is to drill the Las Venadas zone of its La Cigarra project. In Zacatecas, Arian Silver is to halt exploration in three lithium projects after receiving auger drill results. ON MINING, Telson released details on the sale of concentrate from its Tahuehueto property in Durango. Arian Silver released financial results for the first six months of 2017.  ON FINANCING; Defiance Silver completed the first tranche of its financing for $1.7 M, VVC Exploration has raised CA$900 K and is increasing the offering ceiling to CA$2 M., MX Gold closed a non-brokered private placement for C$4 M and San Marco announced an upcoming private placement for C$1.26 M. Silver Viper completed its IPO raising $3.0 M.  ON RESOURCES AND DEVELOPMENT; Lea Gold commenced the portal development of the 1.3 km ramp at Bermejal in Guerrero.  GoldCorp has achieved 40% completion on the Pyrite Leach Project. Levon informed on the drill definition of a gold rich zone at its Cordero property in Chihuahua. Mexican Gold commenced the phase-2 drilling of its Las Minas project in Veracruz.  ON DEALS AND CORPORATE ISSUES, Sierra Metals and Jinchuan Group signed a MOU for cooperation on the Bahuerachi project in Chihuahua.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • San Marco Resources Inc. announced that the surface alteration and mineralization footprint on its 1068 project in Sonora has been mapped over an area of 1.6 Km x 1.5 km, and is still open in two directions. A stockwork-quartz-veined volcanic lithocap phyllically altered sits on top of a poorly exposed intrusive with potassic alteration and fresh pyrite, chalcopyrite and molybdenite. Semi-continuous channel sampling over part of a new road cut ran 62 m @ 0.1% Cu, 215 ppm Mo, 0.044 g/t Au. Exploration plans include further geologic mapping up to 1 km to the NE and SE, expansion of the rock chip sampling grid and detailed mapping on the lithocap to define drill targets and drilling the potassic core.
  • Kootenay Silver Inc. completed the last hole at Las Venadas zone of its La Cigarra property in Chihuahua. The rig has been mobilized to La Navidad zone in the same project. This zone is 500 m to the east and parallel to the San Gregorio zone, which holds 60% of the mineral resource estimate at La Cigarra. Rock and soil sampling programs completed on La Navidad defined a mineralized area 1,000 m long by 300 m wide that is similar in size and in soil values as in the San Gregorio zone.
  • Arian Silver Corp. informed that in light of assay results from the initial auger drill program carried out in the Pozo Hondo, Columpio and Abundancia projects in Zacatecas, no further exploration in the properties is to be undertaken. The company owns 12 silver mining concessions covering 1,500 has in Zacatecas.

ON MINING

  • Telson Resources Inc. announced the final details of the sale of 155.4 tonnes and 316.4 tonnes of Pb and Zn concentrates respectively, from its Tahuehueto project in Durango, for proceeds of US $1.6 M. The concentrates were produced from 4,123 tonnes of ore mined from the Level 10 of El Creston Zone, grading 6.26 g/t Au, 60 g/t Ag, 2.08% Pb, 5.61% Zn. The recoveries achieved were @ 83.6% Au, 89.3% Ag, 86.1% Pb, 85.5% Zn. Mining is averaging 166 tonnes per day during September 2017, with 2,530 tonnes of ore awaiting transport to the Atocha mill.
  • Arian Silver Corp. released its financial results for the first six months of 2017. At the end of the period the company had total assets of US$1.5 M, of which $0.9 M was cash.

ON FINANCING

  • Defiance Silver Corp. closed the first tranche of its private placement for gross proceeds of $1.72 M. Finder’s fees of $122.9 K were paid in connection with the first tranche of the private placement (San Acacio, Zacatecas).
  • VVC Exploration Corp. has raised to date about CA$900 K and have commitments for an additional $460 K on its previously announced CA$1 M in a non-brokered private placement. The company is increasing the maximum amount of the offering to CA$2 M (Samalayuca copper project, Chihuahua).
  • Silver Viper Minerals Corp. has successfully completed its initial public offering (IPO), for gross proceeds of $3.0 M (Clemente, Sonora).
  • MX Gold Corp. closed a non-brokered private placement, for gross proceeds of C$4 M. Aggregate cash finder’s fees of $15.6 K will be paid (Magistral, Durango).
  • San Marco Resources Inc. is arranging a private placement to raise gross proceeds of up to C$1.26 M (Chunibas, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Lea Gold mining Corp. has commenced portal development for the 1,325 m long exploration ramp at its Bermejal Underground deposit in Guerrero. The US$ 13 M budget includes 3,136 m of ramp and cross-cut development and two ventilation raises totaling 560 vertical m. The Bermejal Underground drilling program is over 50% complete with 28,846 m drilled on 67 holes of the planned 56,000 m in 113 holes. “All holes intersected iron-oxide skarn mineralization as targeted and only two holes …..  were below a 3 gpt over 3 m diluted minimum width threshold” . The mineralization remains open in several directions.
  • GoldCorp Inc. informed the Pyrite Leach project (PLP) at Peñasquito in Zacatecas has achieved 40% completion on its $420 M investment, which is expected to be commissioned three months ahead of schedule, by the fourth quarter of 2018. The PLP is to recover 40% of the gold and 48% of the silver that currently go to the tailings. A prefeasibility study on Eco-Tails is expected by the first quarter of 2018.
  • Levon Resources Ltd. announced that drilling has extended a gold enriched sulfide zone in the northern part of the center of the current resource at its Cordero project in Chihuahua. A total of 5,655 m were drilled in 18 core holes, with results supporting extension of the gold zone for 350 m on strike to the NE. Additional infill resource drilling is needed to completely define the resource internally.
  • Mexican Gold Corp. commenced the phase 2 diamond drilling program at its Las Minitas Cu-Au property in Veracruz. The drill program is to include step-out drilling beyond the current resource at the El Dorado/Juan Bran zone, high-grade intercepts at the Cinco Señores and Las Minillas Drill targeting is to be aided by the ground magnetic and TDEM surveys.

ON DEALS AND CORPORATE ISSUES

  • Sierra Metals Inc. signed a memorandum of understanding (MOU) with Jinchuan Group Co. Ltd., formalizing the intention to cooperate on Jinchuan’s Bahuerachi property in Chihuahua. The Bahuerachi property is adjacent to Sierra´s Bolivar mine, where Sierra has been producing copper since 2012.

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, rock fence with fine grained quartz vein fragments in Chihuahua. Photo by Jorge Cirett.

DSCN5557

Goldcorp Reports Positive Progress on Project Pipeline

http://www.goldcorp.com/English/Investor-Resources/News/News-Details/2017/Goldcorp-Reports-Positive-Progress-on-Project-Pipeline/default.aspx

VANCOUVER, Sept. 25, 2017 /CNW/ – GOLDCORP INC. (TSX: G, NYSE: GG) (“Goldcorp” or the “Company”) is pleased to provide an update of its extensive project pipeline that forms the basis of its five–year 20/20/20 plan that would see the Company increase gold production and gold reserves by 20%, while decreasing all-in sustaining costs per ounce by 20%.

“The significant progress we have made on our development and exploration projects has given us increased confidence in our 20/20/20 objectives and identified new opportunities for outperformance at Cerro Negro, Peñasquito and Coffee,” said David Garofalo, President and Chief Executive Officer.  “We are also pleased with the substantial progress of our longer-term projects Century, NuevaUnión and Cerro Casale/Caspiche that are poised to provide meaningful long-term gold production and value growth.

Highlights on the Third Week of September, 2017. Mineral Exploration in Mexico

During the 38th week of the year (September 18th to September 24th, 2017), at least 26 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, Primero Mining acknowledged the receipt of US$4.6 M of VAT refunds. ON EXPLORATION, in Sonora, Azure is to begin a 5,000 m drill program at Oposura, and San Marco is re-shaping its exploration strategy in Chunibas, to reflect the new porphyry model for the mineralization. In Chihuahua, Radius is giving shape to a coherent epithermal target at its Amalia project, and Mammoth released trench results from its Tenoriba property. In Hidalgo, Prospero is to start drilling at El Petate. ON MINING, Argonaut poured the first gold from its San Agustin project in Durango. Primero Mining is struggling while ramping up production at San Dimas, in Durango. ON FINANCING, Telson Resources entered into a loan facility for US5 M with Trafigura. McEwen Mining entered into a bought deal financing for US$46.6 M. Alamos Gold increased its revolving credit facility to US$400 M ON RESOURCES AND DEVELOPMENT; Americas Silver released a new resource estimate for its Cosalá operations in Sinaloa. Torex Gold released high-grade intercepts from the sub-sill zone at its El Limon-Guajes mine in Guerrero. Argonaut Gold updated mineral the mineral resource estimate for its La Colorada and El Castillo mines in Sonora and Durango, respectively. Alio Gold received an important permit on its Ana Paula project in Guerrero, and is working on the definitive feasibility study (DFS). ON DEALS AND CORPORATE ISSUES, Rose Petroleum presented an update on its operations in Sinaloa, and some notes on the transferal of its San Dieguito mill in Nayarit to Magellan Gold. Alio Gold is to commence the construction of a 1,200 m long decline at its Ana Paula project in Guerrero. Primero Mining provided an update on its operations, along with a description of its financial struggle. Soleil Capital and Goldplay Exploration are to create a TSX listed company. Goldgroup Mining provided its side of the story on the legal battle with DynaResource Inc.

ON MEXICO ISSUES

  • Primero Mining Inc. acknowledged having received US$4.6 M in VAT refunds from the Mexican authorities in two installments over July and August, and is working closely with the SAT to recover in due time the outstanding US$32 M.

ON EXPLORATION

  • Azure Minerals Ltd. plans to start a 100 diamond hole, 5,000 m drill program at its Oposura property in Sonora during October, once the permits have been received. “Drilling by previous explorers of 85 surface holes tested the mineralised zone over an area of approximately 1,400m (east-west) x 400m (north-south) (see Figure 1). Early drilling by Azure will twin some of these historical holes to assess whether they can be used in defining the deposit and estimating the mineral resource”. With all the historical and recent work compiled Azure has derived an exploration target of 2.5 M tonnes @ 10% – 12% Zn+Pb.
  • Prospero Silver Corp. has received from SEMARNAT the permit to drill the Petate property in Hidalgo. Drilling is to start on September 17th, 2017, with 12 holes to test four targets: Apartadero SE, Apartadero Central, Tajo and Petate #3. “High-level epithermal alteration is exposed over a 5×4 km area with highly anomalous gold and silver hosted in extensive outcrops and float of steep to strata-bound jasperoid.”
  • Radius Gold Inc. released high-grade channel sampling results from the recently optioned Amalia property in Chihuahua. At the Campamento zone, where a 150 m by 300 m zone of intense silicification, brecciation and stockwork veining has been mapped, results include 62 m @ 0.43 g/t Au, 98 g/t Ag; 14 m @ 1.47 g/t Au, 167 g/t Ag; including 7 m @ 2.37 g/t Au, 239 g/t Ag. At the Guadalupe target, a quartz sulfide vein breccia hosted in andesites returned 7 m @ 3.62 g/t Au, 1,048 g/t Ag; 7 m @ 2.4 g/t Au, 188 g/t Ag; 4 m @ 3.92 g/t Au, 888 g/t Ag. At Dulces Nombres the vein in a short tunnel returned 1 m @ 34 g/t Au, 13 g/t Ag; 1 m @ 20.3 g/t Au, 44 g/t Ag; 1.5 m @ 114.5 g/t Au, 57 g/t Ag. Au-Ag mineralization occurs over a vertical interval of 600 m, at multiple targets over 3.5 km of strike length.
  • Mammoth Resources Corp. released channel sample results from 14 trenches at its Tenoriba project in Chihuahua. Results include (true width) 11.5 m @ 0.64 g/t Au, 2 g/t Ag; 16.0 m @ 0.38 g/t Au, 4 g/t Ag; 15.5 m @ 0.99 g/t Au, 6 g/t Ag in the Moreno zone; 7.0 m @ 1.28 g/t Au, 8 g/t Ag; 13.5 m @ 1.50 g/t Au, 3 g/t Ag; 10.0 m @ 0.42 g/t Au, 7 g/t Ag; 6.2 m @ 0.88 g/t Au, 4 g/t Ag at the Carneritos zone; 13.1 m @ 0.66 g/t Au, 1 g/t Ag; 6.4 m @ 0.47 g/t Au, 10 g/t Ag in the Masuparia zone and 6.4 m @ 0.54 g/t Au, 2 g/t Ag in the Cerro Colorado zone.
  • San Marco Resources Inc. is readjusting its exploration strategy to accommodate an evolving geologic model on its Chunibas project in Sonora. The discovery of breccias in the recent core drilling program led to re-mapping and re-logging of the core, and the generation of a larger porphyry related breccia gold model with over printing epithermal quartz-carbonate veining. The surface mineralized footprint is 3 km x 1.5, and still open. The gold mineralization occurs disseminated and vein controlled. The re-logging of the core highlighted an 88 m breccia interval @ 0.37 g/t Au, and several drill holes present magnetite bearing potassic alteration associated with elevated gold grades. To test the property under the new model a magnetic survey is to be undertaken, along with the extension of some soil lines and deeper drill holes.

ON MINING

  • Argonaut Gold Inc. announced the first pour of gold at San Agustin, Durango, as scheduled. Impressive is the claim by the company of having had no lost time accidents during the 10 months construction period.
  • Primero Mining Corp. informed that the expected ramp-up production following successful negotiations with unionized workers has been significantly delayed due to persistent issues with underground equipment reliability, which has impacted development rates and stoping activities. As a result the production guidance has been lowered to 75 K to 85 K Oz AuEq at total cash costs of between $800 and $900 per AuEq Oz and all-in sustaining cost (AISC) of $1,050 to $1,150 per Au Oz.

ON FINANCING

  • Telson Resources Inc. has entered into a loan facility and offtake agreements with Trafigura Mexico, S.A. de C.V., to sell 100% of the lead and zinc concentrate produced at its Campo Morado mine in Guerrero. The US$5 M loan has a three-year term with a six-month grace period followed with 30 repayment installments. The loan facility matures on September 2010 and bears interest at rate equal to LIBOR (3M) plus 5%.
  • McEwen Mining Inc. has entered into an agreement on a bought deal basis under which up to 9 M shares are to be purchased, for gross proceeds of $46.6 M, before deducting underwriting commissions and estimated offering expenses. If all the associated warrants are exercised before the two year expiration date aggregate proceeds are to reach US$74 M.  (El Gallo, Sinaloa).
  • Alamos Gold Inc. has secured amendments to its existing undrawn revolving credit facility, including an increase of the facility from US$150 M to US$400 M on more favourable terms (Mulatos, La Yaqui; Sonora).

ON RESOURCES AND DEVELOPMENT

  • Americas Silver Corp. released an updated mineral reserve and resource estimate for its Cosalá operations in Sinaloa. Proven and probable mineral reserves stand at 4.0 M tonnes @ 100 g/t Ag, 0.02% Cu, 1.6% Pb, 3.9% Zn; Measures and indicated resources include 8.0 M tonnes @ 128 g/t Ag, 0.24% Cu, 0.5% Pb, 1.2% Zn; Inferred mineral resources include 4.1 M tonnes @ 147 g/t Ag, 0.33% Cu, 0.6% Pb, 1.0% Zn. The updated estimate reflects the drilling programs conducted at the property between January 2016 and the end of June 2017.
  • Torex Gold Resources Inc. released high-grade intercepts in the step-out drilling to the NW of the current Sub-Sill resource area, at its El Limon-Guajes mine in Guerrero. Some highlighted core length intercepts comprise 19.3 m @ 41.4 g/t Au, 43 g/t Ag, 2.1% Cu; including 5.6 m @ 69.8 g/t Au, 57 g/t Ag, 1.7% Cu; 35.9 m @ 5.7 g/t Au, including 3.5 m @ 32.2 g/t Au and 3.5 m @ 14.1 g/t Au; 4.8 m @ 8.5 g/t Au, 20 g/t Ag, 1.2% Cu; 6.1 m @ 15.7 g/t Au. A 240 m step-out drill hole intercepted 3.6 m @ 11.6 g/t Au. These results confirm the potential for extending the current resource, already defined in an area of 250 m x 150 m. “The Sub-Sill area is located between the El Limon and El Limon Sur ore deposits and under the El Limon Sill. The Sub-Sill area occurs in the Mesozoic carbonate-rich Morelos Platform, which has been intruded by Paleocene granodiorite stocks, sills and dikes. Skarn-hosted gold mineralization is developed along the contacts of the intrusive rocks and the enclosing carbonate-rich sedimentary rocks”.
  • Argonaut Gold Inc. provided updated pit-constrained mineral resource estimates for its El Castillo and La Colorada mines in Durango and Sonora respectively. At El Castillo measured and indicated resources stand at 63.97 M tonnes @ 0.36 g/t Au, and inferred resources at 1.57 M tonnes @ 0.36 g/t Au, for contained 751 K Oz Au and 18 K Oz Au respectively. At La Colorada indicated resources stand at 29.87 M tonnes @ 0.61 g/t Au, 10 g/t Ag and inferred resources of 1.24 M tonnes @ 0.80 g/t Au, 12 g/t Ag, for contained 596 K OZ Au, 9.9 M Oz Ag and 32 K Oz Au, 488 K Oz Ag respectively.
  • Alio Gold Inc. received approval for its change of land use application from SEMARNAT on its Ana Paula project in Guerrero. A definitive feasibility study (DFS) was initiated on July 2017 and is expected to be completed on the second quarter of 2018. The Pre-feasibility study (PFS) contemplated $137 M in capital for construction of the mine, Alio has $64 M of cash on hand and is looking to raise between $90 and $100 M in project financing.

ON DEALS AND CORPORATE ISSUES

  • Rose Petroleum PLC. Entered into a memorandum of understanding with Magellan Gold Corp. for transferring 100% interest on the San Dieguito de Arriba mill in Nayarit. Magellan is to pay Rose a total consideration of US$1.5 M, with US$1.0 M in cash and US$0.5 M in Magellan restricted common shares. Rose operated the mill for 10 years with ore from its Charay mine in Sinaloa. The company continues to hold the 3,954 has Tango property in Sinaloa, with permitting for drilling Cu-Mo porphyry targets and the Au-Ag vein structure.
  • Alio Gold Inc. has approved the construction of a $16 M, 1,200 m long decline and exploration program at its Ana Paula project in Guerrero. The decline permitting has been approved by SEMARNAT, and mobilization of the contractor is expected to begin in October 2017. In about nine months, once the decline has reached its target, A 20,000 m underground drilling program with 80 holes is to test the high-grade mineralization below the planned pit.
  • Primero Mining Corp. “continues to operate in a cash conservation mode as management works on possible alternatives to refinance or repay its upcoming debt obligation. The Company continues with negotiations on the potential sale of San Dimas or potential renegotiation of its silver stream. Primero had approximately $12 million in cash at August 31st and has fully-drawn its $75 million revolving credit facility (“RCF”). The Company expects to use the proceeds from Black Fox transaction to reduce its total debt position.” “Primero has recently received approximately $4.6 million in Mexican VAT refunds over two instalments in July and August, and is working closely with SAT to arrange for the remaining eligible outstanding VAT amounts totalling $32 million to be refunded in due course.”
  • Soleil Capital Corp. signed a letter of intent (LOI) with Goldplay Exploration Ltd. to create a public TSX listed precious metals exploration company utilizing Goldplay’s exploration strategy and experience in the Rosario district, in Sinaloa. The resulting issuer will be named Goldplay Exploration Ltd.
  • Goldgroup Mining Inc. states that the company was never notified of the court case where DynaResource Inc. was awarded US$48 M (See last week Highlights), and does not recognize any of the claims therein “and is of the belief that such claims are entirely without merit.”

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, high-grade gold milky quartz vein with pyrrothite in Chihuahua, near Batopilas. Photo by Jorge Cirett.

DSCN5549

Alio Gold Receives Change Of Land Use Approval And Provides Ana Paula Project Update

http://aliogold.com/investors/news-releases/index.php?&content_id=355

September 21, 2017, Vancouver, BC – Alio Gold Inc. (TSX, NYSE AMERICAN: ALO) (“Alio Gold” or the “Company”), is pleased to provide a project update and announce that the Company has received approval for its Change of Land Use application from SEMARNAT (Mexico’s Secretary of Environment and Natural Resources) for its high grade, high margin Ana Paula Project located in Guerrero, Mexico (“Ana Paula” or the “Project”).

Key Highlights

  • Permitting milestone achieved with approval of Change of Land Use application
  • Financing proposals received indicate Project highly financeable
  • Advancing the definitive feasibility study towards completion with an investment decision expected in the second quarter of 2018

“Obtaining approval for our Change of Land Use application is the second major milestone in the permitting of Ana Paula after approval of our Environmental Impact Assessment back in April,” said Greg McCunn, Chief Executive Officer. “As we launch an exciting exploration initiative to enhance the already robust economics of Ana Paula, we are also continuing to move the Project forward towards an investment decision in the second quarter of 2018. Now that major permitting milestones are behind us, our focus is on completing the definitive feasibility study and arranging project financing. In addition, we are enhancing community and social efforts to ensure we continue to maintain respectful and mutually beneficial relationships with the surrounding communities.”

Bacanora Minerals Ltd – Restricted Share Plan and Director Dealings

http://ir1.euroinvestor.com/IR/Files/RNSNews/255092/BacanoraMinerals_13691374.pdf

Bacanora Minerals Ltd. has implemented a restricted share unit plan along with the grant of an aggregate of 1,192,277 restricted share units thereunder and the grant of an aggregate of 2,227,410 options to acquire common shares in the capital of Bacanora at a price of pounds sterling 0.80 (approximately $1.32) pursuant to the stock option plan of the company.

RSU Plan

In order to further align the interests of the company’s senior executives, key employees, consultants and directors with those of the shareholders of the company, the board of directors has approved the implementation of the RSU Plan, subject to receipt of final approval by the TSX Venture Exchange and ratification by the company’s shareholders at the next annual meeting thereof. The TSX-V has granted conditional acceptance of the RSU Plan, subject to confirmation of shareholder ratification. Under the RSU Plan, eligible persons may (at the discretion of the board) be allocated a number of RSUs as the board deems appropriate, with vesting provisions also to be determined by the board, subject to a maximum vesting term of three years from the end of the calendar year in which RSUs were granted. Upon vesting, eligible participants shall be entitled to a cash payment equal to the number of RSUs granted, multiplied by the fair market value of the Company’s common shares on the redemption date. The company shall also have the option (at the discretion of the board) to settle amounts owing to eligible persons via the issuance of common shares of the company.

Alio Gold To Commence Underground Decline And Exploration Program At Ana Paula

http://aliogold.com/investors/news-releases/index.php?&content_id=354

September 18, 2017, Vancouver, BC – Alio Gold Inc. (TSX, NYSE AMERICAN: ALO) (“Alio Gold” or the “Company”), is pleased to announce the board of directors has formally approved an underground exploration decline (“decline”) and exploration program at its high grade, high margin Ana Paula Project located in Guerrero, Mexico. The Company also received the authorization to start construction of the decline from SEMARNAT (Mexico’s Secretary of Environment and Natural Resources).

Highlights

  • Initiating a $16 million underground decline and exploration program
  • Exploring the extension of the high-grade breccia mineralization and skarn target
  • Permitting of the decline approved by SEMARNAT
  • Receiving detailed bid proposals from contract miners during September 2017
  • Mobilizing of the contractor expected to commence in October 2017
  • Initiating an additional $1.8 million surface exploration program targeting a zone north of the proposed pit
  • Drilling underway to twin 11 holes (2,000 metres) for metallurgical testing

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

During the 35th week of the year (August 28th to September 3rd, 2017), at least 20 press releases were announced by companies working in Mexico, including three quarterly financial reports. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Alix released drilling results from its Electra property in Sonora. ON MINING, Maverix Metals and Santacruz Silver and Southern Silver reported second quarter 2017 financial results. Telson Resources initiated underground mining at Campo Morado in Guerrero. ON FINANCING, VVC Exploration, Colibri and Southern Silver announced the opening or closure of financing rounds for CA$1 M, $1.2 M and $468 K respectively. Marlin Gold withdrew $7 M from its loan facility with Wexford during July and August. Goldgroup Mining amended a credit line with Credipresto. ON RESOURCES AND DEVELOPMENT, VVC Resources initiated a drilling program in Samalayuca, Chihuahua. Sierra Metals released high-grade results from drilling at Cusi, in Chihuahua. Kootenay Silver released drilling results from La Cigarra, also in Chihuahua. Silver Bull is starting an underground drilling campaign at Sierra Mojada, Coahuila. Endeavour Silver released drilling results from Guanacevi, Durango. Mx Gold intends to begin processing of the Magistral del Oro tailings in Durango by the fourth quarter 2017. Geologix is working on the goal of expanding the resource at Tepal, Michoacan. ON DEALS AND CORPORATE ISSUES, VVC Exploration signed a LOI on the La Tuna property in Sinaloa.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Alix Resources Corp. completed, in partnership with Lithium Australia, 1,762 m of RC drilling on 16 holes on its Electra project in the Agua Fria property in Sonora. The program resulted in the discovery of the West Flank zone, which is 25-50 m thick and extends for nearly 2.5 km. Results include 82 m @ 938 ppm Li; 75.0 m @ 966 ppm Li; 30.0 m @ 917 ppm Li; 33.0 m @ 991 ppm Li; 57.0 m @ 719 ppm Li; 45.0 m @ 816 ppm Li; 90.0 m @ 904 ppm Li.

ON MINING

  • Telson Resources Inc. has commenced underground mining operations at Campo Morado in Guerrero. Plans are to accumulate up to 80,000 tons to support the initial start-up of the flotation mill. “The initial processing is planned to commence at approximately 1000 tons per day and will slowly be ramped up to the mill’s ultimate capacity of 2,500 tonnes per day.”
  • Maverix Metals Inc. announced financial results for the second quarter 2017. The royalty and streaming company, which has a NSR from gold production from Pan American Silver’s La Colorada mine in Zacatecas, had a revenue of CA$4 M, with average cash cost per attributable AuEq ounce of CA$187. The company has a current cash balance of CA$32 M.
  • Santacruz Silver Mining Ltd. reported financial and operating results for the second quarter of 2017. The company owns the Veta Grande and Rosario projects in Zacatecas and San Luis Potosi, respectively; producing 270.7 K AgEq Oz at cash cost $21.24 per AgEq Oz and all-in sustaining cost (AISC) of $24.62 per AgEq Oz during the period. Santacruz disposed of its interests in the Gavilanes, San Felipe and El Gachi projects for proceeds of $19.14 M, settling debt to JMET and LLC for $7.36 M and making payments to the underlying vendors of the properties for $3.48 M. The company also entered into the Membrillo property agreement to augment mineralized feed to the Rosario mill.
  • Marlin Gold Mining Ltd. announced its financial results for the second quarter 2017. During the period the company produced 8,785 Oz Au at its La Trinidad mine in Sinaloa, selling 9,825 Oz Au. Currently the company has cash and finished gold account for $2.6 M, $1.7 M of finished gold and $14.2 M of gold-in-process. “Investments in shares of Golden Reign Resources Ltd. stood at $8.7 million at quarter end”.

ON FINANCING

  • VVC Exploration Corp. has opened a non-brokered private placement for up to CA$1 M (Samalayuca, Chihuahua).
  • Colibri Resource Corp. announced a non-brokered private placement intending to raise up $1.2 M (Pitaya and Pilar, Sonora).
  • Marlin Gold Mining Ltd. informed on its second quarter report that during July and August the company received US$2 M and US$5 M respectively from the Wexford loan facility, increasing the Wexford loan to US$37 M (La Trinidad, Sinaloa).
  • Goldgroup Mining Inc. announced the amendment of its outstanding loan facility from Credipresto SAPI de CV SOFOM ENR. Javier Reyes, a director of Goldgroup, is an executive officer and director at Credipresto. The aggregate outstanding balance (15% interest per annum) is now US$627 K, with the available credit set at US$1.5 M, of which US$1 M is intended to be drawn shortly. Three and a half million warrants (on Goldgroup shares) were issued to Credipresto (Cerro Prieto, Sonora).
  • Southern Silver Exploration Corp. closed the second tranche of its previously announced private placement, with gross proceeds of $468 K. The private placement was comprised of a brokered and non-brokered component. Gravitas Securities received a cash fee of $42.2 K and 105.6 K options. The proceeds are to be used on the continuing exploration of the Cerro Las Minitas property in Durango.

ON RESOURCES AND DEVELOPMENT

  • VVC Exploration Corp. started a diamond drilling program on its Samalayuca copper project in Chihuahua. The 3,000 m program is focusing on the area of the La Gloria open pit, mined by Gambusinos in the 1960’s. A recently completed magnetic survey is backing the location site for 15 inclined holes that are to be 100 to 300 m in length.
  • Sierra Metals Inc. presented results from the expanded 14,000 m drilling program on 22 holes completed at the Santa Rosa de Lima zone within its Cusi property in Chihuahua. Intercepts include >3.8 m @ 287 g/t Ag, 0.1% Pb, 0.1% Zn; >4.5 m @ 401 g/t Ag, 0.1% Pb, 0.2% Zn; >4.0 m @ 205 g/t Ag, 2.4% Pb, 3.1% Zn; >13.8 m @ 465 g/t Ag, 0.5% Pb, 0.3% Zn; >4.7 m @ 172 g/tAg, 5.3% Pb, 5.1% Zn. The average grade and true width of infill intercepts is 343 g/t AgEq over 3.63 m, with the step-out holes extending the known mineralization zone to 1.7 km along the 12 km long Santa Rosa de Lima structure.
  • Kootenay Silver Inc. disclosed results from the last drill hole to extend the recently discovered Las Venadas zone within its La Cigarra property in Chihuahua. The hole is 140 m northeast from the last hole, intercepting 7.0 m @ 169 g/t Ag; 12.0 m @ 121 g/t Ag; 24.2 m @ 93 g/t Ag. “The strength and intensity of brecciation, veining and alteration observed in hole CC-17-28 is consistent with discovery hole CC-17-26, which bottomed in veining. Textures are indicative of a variant of an epithermal hydrothermal breccia complex”.
  • Silver Bull Resources Inc. started a 2,000 m underground diamond drill program targeting the recently identified zone of high grade sulfide mineralization at its Sierra Mojada project in Coahuila. The program is to be carried out by the company owned Termite drill rig, capable of drilling up to 100 m of HQ size diamond core.
  • Endeavour Silver Corp. released drilling results extending high-grade mineralization along strike on the Santa Cruz vein and on a newly discovered splay named the La Negra vein, on its Guanaceví mine in Durango. Highlighted true width intercepts: 2.0 m @ 0.4 g/t Au, 259 g/t Ag (on La Negra vein); 2.9 m @ 0.5 g/t Au, 260 g/t Ag; 2.6 m @ 0.3 g/t Au, 334 g/t Ag; 1.9 m @ 0.5 g/t Au, 324 g/t Ag; 3.4 m @ 0.7 g/t Au, 786 g/t Ag; 1.3 m @ 0.4 g/t Au, 397 g/t Ag; 1.9 m @ 0.8 g/t Au, 357 g/t Ag; 1.2 m @ 1.7 g/t Au, 618 g/t Ag.
  • MX Gold Corp. announced in its JV with GracePoint Mining Corp. the project completion and production commencement by the fourth quarter of 2017 on its Magistral del Oro tailing s project in Durango. “…includes a fully permitted, 500 tonne-per-day dynamic cyanide countercurrent system plant constructed in 2013 and tailings containing a historic estimate of 1.25 million tonnes averaging 2.06 grams per tonne gold.”
  • Geologix Explorations Inc. is re-logging selected drill hole intersections on the South Pit of its Tepal property in Michoacan, trying to determine where the high grade structurally controlled ore lies. Rockchip samples are being collected for assay, and also for alteration and geophysical studies. The work is aimed to expand the economic resource base and make additional discoveries, enhancing the preliminary economic assessment (PEA).

ON DEALS AND CORPORATE ISSUES

  • VVC Exploration Corp. signed a letter of intent with Southern Fuels, Inc. to buy the La Tuna gold property in Sinaloa. To complete the acquisition, due diligence work is being carried out, and a formal purchase and sale agreement needs to be negotiated, with a first payment to be made during September 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, Cananea and the Buenavista del Cobre mine as seen from the North. Photo by Jorge Cirett.

 

Cananea Pano5