TORONTO, Ontario, June 21, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) announces the results of its 2017 annual and special meeting of shareholders (the “Meeting”) held in Toronto, Ontario on June 21, 2017.
Item 1. Election of Directors
At the Meeting, all director nominees listed in the Company’s management information circular (the “Circular”) dated May 11, 2017, were elected as directors of the Company. The detailed results of the vote by ballot are as follows:
||Number of Votes
||Percentage of Votes
|A. Terrance MacGibbon
|William M. Shaver
|Elizabeth A. Wademan
TORONTO, Ontario, June 21, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce that, on schedule, the Sub-Sill Access Ramp has entered into the high grade mineralization at its Sub-Sill underground deposit associated with its El Limon-Guajes Mine in southwest Mexico. The first 260 tonnes of ore from the Sub-Sill were delivered to the processing plant yesterday. A random sample from each truck load of ore from this first ‘round’ into mineralized Sub-Sill skarn, returned an average grade of 98 g/t Au.
Fred Stanford, President & CEO of Torex stated: “Going from discovery to first tonnes processed in less than eight months is a testament to the planning ability and the execution skills of our team. The quality of the asset speaks for itself. Infill and step-out exploration drilling programs for the Sub-Sill are ongoing. A mine plan is expected to be published after the infill drill program is completed, the resource estimate is updated, and a maiden Sub-Sill reserve is determined. This is all scheduled to occur by the end of the year.”
PREMIER GOLD MINES LIMITED (TSX:PG) (“Premier”, “the Company”) is pleased to invite its shareholders and investors to meet its senior management and board of directors at its Annual and General Meeting to be held at 4:00pm EST on June 22, 2017 at the Board of Trade, 1 First Canadian Place, Toronto, Ontario. The AGM will be followed by a corporate presentation at 4:30pm EST (with webcast from the company’s website www.premiergoldmines.com) and a reception.
The presentation will include highlights of the Company’s expected production, development and exploration initiatives including:
- Its wholly-owned Mercedes Mine in Mexico, and its 40% joint venture with Barrick at the South Arturo Mine in Nevada.
- Exploration programs at McCoy-Cove and Goldbanks in Nevada.
- An update on development plans of the Greenstone Gold Property, a 50-50 joint venture feasibility-stage project with Centerra Gold in northern Ontario.
TORONTO, Ontario, June 19, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce high grade intercepts for the first 25 holes of its infill drilling program at the Sub-Sill deposit, associated with its El Limon-Guajes Mine (ELG) in Southwest Mexico. Highlighted intercepts from this program include 39.1 g/t Au over 9.7m, including114.1 g/t Au over 2.9m, in borehole SST-49; 107.3 g/t Au over 3.1m in borehole SST-50; 32.1 g/t Au over 13.0m, including 68.9 g/t Au over 4.0m in borehole SST-54; and 27.3 g/t Au over 14.8m, including 62.1 g/t Au over 4.9m in borehole SST-47.
Fred Stanford, President & CEO of Torex stated: “The purpose of this infill diamond drill program is to upgrade a million tonnes of Inferred Sub-Sill resource to the Measured and Indicated categories, to facilitate mine planning and the determination of a maiden mineral reserve. Of the 50 planned infill diamond drill holes, 41 have been completed to date, and assays have been received for 25 of those holes. To date, the ‘hit ratio’ has been 96%, with 24 holes intercepting high grade gold mineralization. This exceptional demonstration of the continuity of the gold mineralization has held true across the current resource area, including at the periphery. This bodes well for the mine planning efforts and indicates the potential for resource expansion with step-out drilling. The timing is excellent as the access ramp is now through the sill and progressed 40 meters into the less prospective endoskarn, and is less than 10 meters from intersecting the highly prospective exoskarn.” He added, – “The step-out diamond drill program is getting underway as the infill program is completed. The step-out program comprises approximately 7,500 meters in 31 holes that test the area adjacent to the current resource and then out to the periphery of the prospective area for Sub-Sill expansion. This drill program is expected to be completed through the second half of the year and we look forward to sharing those results.”
Toronto, Ontario, June 12, 2017 — Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) announces that the Company has amended certain terms of the proposed amended and restated shareholder rights plan agreement (the “Plan”) to be presented for approval at the annual and special meeting of shareholders of Torex scheduled to be held on June 21, 2017. The amendment was made in response to comments from ISS Proxy Advisory Services, a branch of Institutional Shareholder Services Inc. (“ISS”), a proxy voting advisory and corporate governance services firm.
During the 22nd week of the year (May 28th to June 4th, 2017), at least 25 press releases were announced by companies working in Mexico. ON EXPLORATION, in Sonora Canuc signed an agreement with the San Javier ejido, Riverside regained control of the Thor copper project and San Marco Resources started drilling the Chunibas project. Prospero Silver is to drill test its Santa Maria project in Durango and the Petate and Pachuca Southeast projects in Hidalgo. Vangold is acquiring three properties in Guanajuato and Queretaro. Kootenay completed three holes at La Cigarra in Chihuahua. Mexican Gold is obtaining high grade gold results on the recently acquired properties in Las Minas, Veracruz. ON MINING, Santacruz, Impact and Marlin reported Q1 2017 operating and financial results. Starcore presented Q4 2017. Great Panther commissioned the refurbished processing plant at Topia, in Durango. Mexus has a new crusher for its Santa Elena mine in Sonora. ON FINANCING, Osisko invested $3.3 M in Minera Alamos, Sonoro received the balance of the $4 M for the sale of La Chipriona in Sonora, and Torex signed a secured $400 M debt facility. ON RESOURCES AND DEVELOPMENT, Avino filed the PEA of its Avino property at SEDAR. Americas Silver is confirming and extending mineralization at its Cosala property in Sinaloa. Consolidated Zinc presented the over-limits results from drilling at Plomosas, Chihuahua. ON DEALS AND CORPORATE ISSUES, Vangold is acquiring seven claims in Guanajuato and Queretaro. Magellan made an extension payment on a MOU to acquire a flotation plant in Nayarit.
ON MEXICO ISSUES
- Canuc Resources Corp. announced the signing of a surface use agreement with the San Javier ejido at its San Javier project in Sonora. “The Agreement calls for exploration on 300 hectares of land and also provides binding terms for exploitation (mining) on an area of up to 1,000 hectares. The Agreement requires Canuc to pay $35,000 USD per year during exploration activities and up to $135,000 USD per year during the exploitation phase. The Agreement is binding and has a 25 year term with an additional 5 years provided under Agrarian Laws.”
- Prospero Silver Corp. has appointed a drilling contractor for its 6,000 m program in late June, which is to cover three projects: Santa Maria del Oro, in Durango; Petate in Hidalgo; and Pachuca Southeast in Hidalgo.
- Vangold Mining Corp. has entered into agreements to acquire seven mining claims that cover the Patitos, Analy and El Ruso prospects in Guanajuato and Queretaro. The sevcen claims totaling 2,798 hectares have high grade assay results on sampling by the vendors.
- Kootenay Silver Inc. has completed the first three holes of a 7,500 m core drilling campaign at its La Cigarra property in Chihuahua. Drilling continues on the eastern part of Las Venadas zone, which currently is 400 x 200 m in size. Rock sample results have grade up to 482 g/t Ag in this area.
- Mexican Gold Corp. reported rock sampling results on its recently acquired Pueblo Nuevo concession adjacent to its Las Minas project in Veracruz. The sampling was carried out on the Tamiagua 1 and 2 veins and on the Dos Rios vein. Results include 0.25 m @ 24.8 g/t Au, 0.22 m @ 23.4 g/t Au; 0.25 m @ 9.5 g/t Au; 0.2 m @ 13.5 g/t Au; 0.5 m @ 5.9 g/t Au; 0.4 m @ 4.9 g/t Au; 0.2 m @ 13.7 g/t Au; 0.2 m @ 13.6 g/t Au.
- Riverside Resources Inc. has regained 100% interest on the Thor copper project in Sonora, as the company’s joint-venture partner Antofagasta PLC has elected not to continue with the required investment to advance the property. The first four diamond holes in the property confirmed the concept, with three intersecting quartz-sericite-pyrite stockworks.
- San Marco Resources Inc. has started diamond drilling at its Chunibas project in Sonora, aiming to confirm high grade mineralization within shear veins and test the presence of broad haloes of lower grade Au-Ag within sericite-Fe carbonate altered wall rocks. The drill holes are to probe three targets over 1.5 Km of strike length.
- Santacruz Silver Mining Inc. reported its Q1 operating and financial results for 2017. At Rosario in San Luis Potosi, 18,723 tonnes were processed @ 66 g/t Ag (226 g/t AgEq) with a silver recovery of 86%, to produce 34.5 K ounces Ag, 195 Oz Au, 45 tonnes Pb, 382 tonnes Zn. At Veta Grande in Zacatecas 26.7 K tonnes were processed @ 117 g/t Ag (209 g/t AgEq) with a silver recovery of 57% to produce 57.6 K Oz Ag, 131 Oz Au, 99 tonnes Pb, 177 tonnes Zn. Cash cost per AgEq Oz was $19.55 and AISC per AgEq Oz was $24.56. The Rosario mill in San Luis Potosi is to work during the next few months with ore from the Membrillo vein (optioned from Grupo Mexico), The Cinco Estrellas property and the Rosario mine. At Veta Grande, Zacatecas, the mill is to be fed by the Chorros, Veta Grande and the Garcia mines.
- Starcore International Mines Ltd. presented production results for the fourth quarter 2017, period during which 65.8 K tonnes of ore were milled at its San Martin mine in Queretaro, during the first quarter 2017. The average grade was 1.82 g/t Au, 13.5 g/t Ag, with recoveries of 81.9% and 49.7% for gold and silver respectively, to produce 3,365 AuEq Oz.
- Impact Silver Corp. released financial and production results for the first quarter 2017. The Guadalupe mill was fed ore from the San Ramon Deeps, Cuchara and Mirasol mines at its Zacualpan property in Estado de Mexico. The average mill feed was 177 g/t Ag, producing 230.3 K Oz Ag, while ore production stood at 542 tonnes per day (tpd). The cash position at the end of the quarter was $7.6 M.
- Marlin Gold Ltd. announced financial results for the first quarter 2017. During the period the company had revenues of $32.6 M, producing 15,556 Oz Au and selling 20,401 Oz Au. Cash and finished gold amount to $5.8 M.
- Great Panther Silver Ltd. completed the commissioning phase of the refurbished processing plant at its Topia mine, in Durango. The plant is now operating at planned capacity. The company continues to work with the government on the permitting of the phase II tailings storage facility. Run of mine ore is now being processed along with the stockpiled ore.
- Mexus Gold US. Received a jaw crusher for its Santa Elena mine in Sonora (not to confuse with First Majestic’s Santa Elena mine, also in Sonora). The company intends increase its mining rate to 10,000 tonnes per day.
- Minera Alamos Inc. announced Osisko Gold Royalties Ltd. has purchased on a private placement basis Minera Alamos shares for gross proceeds of $3.3 M. Osisko now owns 19.9 % of Minera Alamos shares. An additional private placement has been announced, same that is intended to raise up to $3.5 M in gross proceeds (La Fortuna, Durango).
- Sonoro Metals Corp. has received the balance of the $4 M proceeds from Agnico Eagle Mines Ltd., for the sale of the Chipriona project in Sonora. Sonoro has now no further interest in the Chipriona concessions, save for the retention of a 1% NSR, same that can be purchased for $1.5 M.
- Torex Gold Resources Corp. announced the signing of a binding commitment letter with various lenders in connection with a secured US$400 M debt facility. The Loan facility will be available by way of a US$300 M term loan and a US$310 M revolving loan facility (El Limon-Los Guajes, Guerrero)
ON RESOURCES AND DEVELOPMENT
- Avino Silver & Gold Mines Ltd. has filed the technical report on the Avino property (in Durango) with SEDAR. The report covers the preliminary economic assessment for the re-treating of the Avino mine tailings, including the resource estimates up to the end of 2016.
- Americas Silver Corp. reported that infill drilling at its Cosalá operations in Sinaloa confirmed the San Rafael Main Zone model, with mineralization extending for further 350 m. Drilling has started at Los Manueles zone.
- Consolidated Zinc Ltd. confirmed the final assay results of the high grade Zn and Pb mineralization on the initial six holes on the Tres Amigos target at its Plomosas property in Chihuahua. The intervals with over-limits in Zn returned 1.5 m @ 26.3% Zn, 0.6% Pb, 52 g/t Ag; 1.85 m @ 32.6 % Zn, 0.3% Pb, 3 g/t Ag.
ON DEALS AND CORPORATE ISSUES
- Vangold Mining Corp. has entered into agreements to acquire seven mining claims totaling 2,798 hectares in Guanajuato and Queretaro. A 100% interest on the claims is to be acquired for an aggregate C$10 K and 3,375,000 Vangold shares, with the vendors keeping a 2.5% net smelter return, of which half can be re-purchased for C$500 K.
- Magellan Gold Corp. has made a further $100 K option payment for a 60 day extension on its memorandum of understanding (MOU) with Rose Petroleum PLC. The MOU gives Magellan the right to purchase an operating flotation plant in Nayarit for a total consideration of $1.5 M. The $100 extension payment will be credited against the purchase price if the transaction closes.
Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.
On the center of the picture below, a felsic dike protruding from the lower volcanic group andesites on the Cañada del Güerachi in Chihuahua. The ignimbrites of the upper volcanic group rest on top of the andesites. Photo by Jorge Cirett.
TORONTO, Ontario, June 1, 2017 — Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce the signing of a binding commitment letter (the “Commitment Letter”) by its wholly-owned subsidiary Minera Media Luna, S.A. de C.V. with BNP Paribas Securities Corp., Commonwealth Bank of Australia, ING Capital LLC and Société Générale (the “Joint Bookrunners”) in connection with a secured US$400 million debt facility (the “Loan Facility”). Upon execution of definitive documents, the Loan Facility will be available by way of a US$300 million term loan (the “Term Facility”) and a US$100 million revolving loan facility (the “Revolving Facility”). The Loan Facility will be used (i) to refinance the existing project finance facility (the “Project Finance Facility”) that was previously entered into with the Joint Bookrunners and certain other lenders, for the construction of the El Limon-Guajes Mine (“ELG”) located in southwest Mexico and (ii) for general corporate purposes. The Revolving Facility and the Term Facility will mature June 30, 2020 and June 30, 2022, respectively.
Avino Silver & Gold Mines Ltd. (ASM: TSX.V, ASM: NYSE – MKT, GV6: FSE, “Avino” or “the Company”) is pleased to announce that it has filed the completed “Technical Report on the Avino Property, Durango, Mexico” on the company’s profile on the SEDAR system, with the effective date of April 11, 2017, pursuant to Avino’s news release dated the same day. The Technical Report, pertaining to the Preliminary Economic Assessment (“PEA”) of re-treating the Avino mine tailings, includes the results from the Company’s recent 2016 Resource Estimate (see news release dated September 26, 2016). The PEA was prepared in accordance with National Instrument 43-101 by Tetra Tech Canada Inc. (“Tetra Tech).
TORONTO, Ontario, May 25,, 2016 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) regretfully announces that on the afternoon of May 23rd, a fatal accident occurred at the construction site for a sediment control structure associated with the El Limon Sur pit. Mr. Jorge Joel Roman Mendoza, an employee of the construction contractor Construccion de Caminos y Proyectos Interestatales, S.A. de C.V., was fatally injured while trucking rock down to the dam construction site. His loaded truck climbed the berm and then rolled over, coming to rest approximately 20 meters below on the next switchback. The appropriate authorities were immediately notified and have inspected and released the site. An internal investigation is underway to determine the cause of the accident.
May 24, 2017 — Vancouver, British Columbia — Marlin Gold Mining Ltd. (TSX-V: MLN) (“Marlin” or the “Company”) is pleased to report one of the highest grade x thickness intercepts ever drilled at the Company’s wholly owned La Trinidad mine in Sinaloa, Mexico (“La Trinidad” or the “La Trinidad Mine”). Hole 17TRD50 intersected 7.57 g/t gold (5.12 g/t cut) over 63.35 meters (26.7 meters true width), including 29.34 g/t gold (13.80 g/t cut) over 10.00 meters (4.2 meters true width). This exploration hole now stands as the second highest grade x thickness intercept at the Taunus pit of the La Trinidad Mine since its original discovery in the early 1990’s. 17TRD50 is only surpassed by the HS Zone discovery hole 08TR012, which intersected 8.5 g/t gold over 61 meters (see press release dated October 6, 2008).