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

 

Bladed quartz texture

By Miguel A Heredia

During the 39th week of the year (September 24th to September 30th, 2018), at least 19 press releases were announced by companies working in Mexico, with seven informing on exploration results, five announcing financing issues, four communicating deals and corporate issues, two reporting mining activities and one reporting on resources and developments.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Mexus Gold announced a drill program at the Julio Shear Zone within its Santa Elena project. In Chihuahua, Ethos Gold provided an update on its la Purisima project, and Harvest Gold announced that a drill program will commence shortly on its Cerro Cascaron project. In Coahuila, Discovery Metals released exploration results from its Puerto Rico project. In Jalisco, Evrim expanded gold mineralization at its Cuale project. In Veracruz, Azucar Minerals revealed drilling results from its El Cobre project. In Estado de Mexico, Impact reported sampling results from its Santa Teresa Au-Cu area. ON MINING, Telson provided an update on its Campo Morado mine in Guerrero and Goldcorp announced that will release Q3, 2018 results on October.  ON FINANCING, Defiance increased a loan facility from $700K to up to $1,120,810. Harvest Gold raised $980K from the purchase of 12.25M of warrants. Telson announced a non brokered private placement for CAD$6.5M. Avino closed a US$4.6M underwritten public offering.  Consolidated Zinc announced a share purchase plan to raise funds. ON RESOURCES AND DEVELOPMENT, Goldplay announced sampling results of historical core from its San Marcial project in Sinaloa.  ON DEALS AND CORPORATE ISSUES, Ethos Gold entered in an option agreement to expand its La Purisima project in Chihuahua. Southern Silver provided a corporate update (Cerro Las Minitas, Durango). Alamos Gold declared semi-annual dividend (Mulatos mine, Sonora) and Gold Resource monthly dividend (El Aguila mine, Oaxaca).

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Mexus Gold US, is to commence a drilling program at the 2,200m long by 300m wide Julio Shear Zone within its Santa Elena project in Sonora. The 12 hole core drill program “is to establish structural features, the types of mineralization and define up to 100K Oz Au resource in about a 500,000 ton resource block, building towards a future 43-101 report”.
  • Ethos Gold Corp., reported that has completed a rock sampling and geological mapping program on its La Purisima project in Chihuahua. “Work to date indicates at least five sub parallel north-west striking mineralized veins with significant broad vein enveloping areas of gold mineralized stockwork in intervening rock between the veins. Additionally, gold mineralized vein splays and stockwork zones diverge from the primary veining, usually into northeast trends”. Ethos has designed an angled holes drill program to test targets at its la Purisima property. Permitting for the drill program is now underway.
  • Harvest Gold Corporation, announced that a first phase drilling program will commence shortly on its Cerro Cascaron project in Chihuahua. The first phase plan for diamond drilling consists of 14 diamond drill holes comprising 3,000m to 3,500m in five of eight target areas on the property which have been defined by rock channel, grab and soil samples.  Planned drill hole depths range from 100m to 300m.
  • Discovery Metals Corp., released results from an underground channel sampling at its Puerto Rico project in Coahuila. Highlights results are 1.8m of 101 g/t Ag, 9.5% Pb and 20% Zn on “Manto 7”; 1.4m of 116 g/t Ag, 6.1% Pb, and 22.5% Zn on “Manto 12”; and 1.1m of 253 g/t Ag, 10.8% Pb, and 11.7% Zn on “Manto 8”; 0.8m of 279 g/t Ag, 27% Pb, and 26.5% Zn on “Chimney NW1”; 0.6m of 484 g/t Ag, 22.7% Pb, and 22.1% Zn; and 0.5m of 701 g/t Ag, 43.5% Pb, and 5.9% Zn.
  • Evrim Resource Corp., expanded outcropping Au mineralization at its Cuale project in Jalisco. Trenching on the La Gloria area extended the outcropping mineralization to the southwest where continuous mineralization remains open, and the CSAMT geophysical survey confirmed at least 200m of depth potential beneath the trenches. Highlights of the trenching sampling at la Gloria are T-6 with 158.8m of 1 g/t Au, including 90.8m of 1.44 g/t Au from 66m along the trench, and 14.8m of 5.19 g/t Au from 142m along the trench; and T-7 with 141.1m of 0.72 g/t Au, including 80m of 1.02 g/t Au from 107.1m along the trench, and 40m of 1.42 g/t Au from 145.1m along the trench. The sampling results define a NW trend of Au mineralization along 1,430m, including the North Dome Target that contains assays up to 11.9 g/t Au, and reveals a new drill target 1Km NW of the La Gloria trenches. The CSAMT geophysical survey also defined a prospective silica target extending 200-300 directly beneath the trenches at La Gloria area, doubling the depth potential. Evrim is interpreting all the results to refine and finalize drill hole location for the initial drilling program at its Cuale project.
  • Azucar Minerals Ltd., revealed drill results from its El Cobre project in Veracruz. Significant intersections are in hole EC-18-049, Norte Zone with 44m of 0.47 g/t Au and 0.32% Cu, including 10m of 0.88 g/t Au and 0.47% Cu, and 10m of 0.53% Au and 0.39% Cu, and hole EC-18-051 Norte Zone with 227m of 0.37 g/t Au and 0.14% Cu, including 12m of0.80 g/t Au and 0.32% Cu, 75.5m of 0.61 g/t Au and 0.19% Cu, 12.5m of 1.17 g/t Au and 0.33% Cu, and other interval of 118m of 0.70 g/t Au and 0.23% Cu, including 6m of 1.09 g/t Au and 0.34% Cu.
  • Impact Silver Corp., reported assay results from its Santa Teresa Au-Cu area within the Zacualpan District in Estado de Mexico. A recent sampling from the El Canelo vein systems at Santa Teresa averaged 6.5g/t gold over a true width of 1.66 meters along a strike length of 50 meters. The system remains open for expansion and parallel vein systems in the area are being mapped and sampled at this time.

ON MINING

  • Telson Mining Corporation, provided an update on its Campo Morado mine in Guerrero. The company made several upgrades in the mill processing plant to increase the grinding capacity of the mill to process up to 3,000 tonnes per day by the end of 2018. The company also conducted metallurgical testing obtaining favourable results for increasing the quality of Zn concentrates.

ON FINANCING

  • Defiance Silver Corp., increased a loan facility from $700K to $1.12M. This financing is to complete its proposed merger with ValOro Resources Inc. (San Acacio, Zacatecas).
  • Harvest Gold Corporation, announced that 12.25M of warrants were exercised for aggregate proceeds of $980K. (Cerro Cascaron, Chihuahua).
  • Telson Mining Corporation, announced a non-brokered private placement for CAD$6.5M. Net gross proceeds will be used for finalizing construction of its Tahuehueto mine in Durango.
  • Avino Silver & Gold Mines Ltd., closed a US$4.6M underwritten public offering, including the partial exercise of underwriters´ overallotment option. After deducting the underwriting discounts and commissions, the net proceeds are expected to be approximately US$4.1M (Avino mine, Durango).
  • Consolidated Zinc Limited, invited to its shareholders to participate in a share purchase plan with no brokerage cost to raise $1.5M (Plomosas mine, Chihuahua).

 

ON RESOURCES AND DEVELOPMENT

  • Goldplay Exploration Ltd., reported sampling results of historical core from its San Marcial project in Sinaloa. Significant results are 93m (TW 68m) of 104 g/t Ag or 165 g/t Ag Eq, including 10m of 324 g/t Ag or 508 g/t Ag Eq; 57m (TW 46m) of 122 g/t Ag or 270 g/t Ag Eq; 42m (TW 39.6m) of 80 g/t Ag or 153 g/t Ag Eq; 35m (TW 32m) of 38 g/t Ag or 64 g/t Ag Eq; 19.2m (TW 12.6m) of 130 g/t Ag or 144 g/t Ag Eq; 12m (TW 12m) of 419 g/t Ag or 467 g/t Ag Eq, including 6m of 939 g/t Ag or 1,012 g/t Ag Eq. These results, together with the historical results, reinforce open pit development potential at San Marcial. “The continuous sampling from the historical core is providing valuable information to expand and connect mineralized zones previously modeled in the historic resource”.

ON DEALS AND CORPORATE ISSUES

  • Ethos Gold Corp., entered in an option agreement in Chihuahua to earn a 100% right, title and interest in and to 897 hectares of mineral concessions contiguous to its La Purisima project. Ethos can exercise the option by paying the property owner US$550K and granting 2% NSR of which the company can purchase 1% by paying US$1.0M. It also includes advance NSR payments of US$25K on closing, US$35K by the first anniversary, US$35K by the second anniversary, and US$50K by the third anniversary and by each subsequent anniversary until commercial production is commenced. In addition, Ethos will assign 1.5M Ethos warrants, having a 5-year term, and each exercisable to purchase one Ethos common share at CAD$0.15 per share, with these warrants vesting as to 500K on closing, 500K vesting 18 months, and 500K vesting 36 months after closing.
  • Southern Silver Exploration Corp., announced the re-election of Directors at its annual general meeting and granted 800K incentive stock options to directors, officers and consultants.
  • Alamos Gold Inc., declared semi-annual dividend to its shareholders of US$0.01 per common share (Mulatos mine, Sonora)
  • Gold Resource Corporation, declared monthly dividend to its shareholders of 1/6 of a cent per common share (El Aguila mine, Oaxaca).

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,  bladed quartz texture in a low sulphidation epithermal project in Zacatecas, Mexico.  Photo by Miguel A Heredia.

 

Harvest Gold Receives $980,000 from Warrant Exercises

harvest gold receives 980K from warrant exercises

Vancouver, British Columbia / TheNewswire / September 24, 2018 – Harvest Gold Corporation (tsx.v:HVG) (the “Company” or “Harvest Gold”) is pleased to announce that of the 24,524,000 share purchase warrants (the “Warrants”) that expired on September 21, 2018, a total of 12,250,000 Warrants were exercised for aggregate proceeds of $980,000.

Highlights on the Second Week of September, 2018. Mining and Exploration News in Mexico

Banded quartz epithermal vein

By Miguel A Heredia

During the 37th week of the year (September 10th to September 16th, 2018), at least 22 press releases were announced by companies working in Mexico, with ten informing on exploration results, six reporting on resources and developments, four communicating deals and corporate issues, and two announcing production results.  ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Riverside and Kootenay announced exploration results from its Cecilia and La Mina projects respectively. In Chihuahua, Harvest Gold began preparations to drill test its Cerro Cascaron project and Sable Resources released drilling results from its Margarita project.  In Sinaloa, Auxico reported sampling results from its Zamora project In Durango, Gainey announced a 1st phase of exploration at its Las Margaritas project, Orex commenced fieldwork exploration on its San Luis del Cordero project, and Prospero reported drilling results from its Buenavista project. In Zacatecas, Advance Gold started a phase 2 drilling program at its Tabasquena project. In Jalisco, Evrim announced trench and soil results from its Cuale project.  ON MINING, Starcore reported Q1 2018 results from its San Martin mine in Queretaro. US Antimony announced plans to increase its production of Sb, Au and Ag in Mexico. ON FINANCING, no relevant news. ON RESOURCES AND DEVELOPMENT, In Sonora, SilverCrest and Premier Gold released drilling results from its Las Chispas and Mercedes projects respectively. Aura provided an update at its Aranzazu mine in Zacatecas. Candelaria announced a PEA for its Pinos Gold project in Zacatecas.   McEwen reported that hopes to add 12 years of mine life at its El Gallo Complex in Sinaloa.  ON DEALS AND CORPORATE ISSUES, Evrim and First Majestic agreed to exercise the Ermitaño and Cumobabi option agreements in Sonora. New Gold announced the appointment of its new President and CEO (Cerro San Pedro mine, San Luis Potosi). Levon announced results from its annual general meeting (Cordero project, Chihuahua). Vangold withdrew its submission to acquire the San Carlos property in Guanajuato (El Pinguico mine, Guanajuato).

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Riverside Resources Inc., completed 11 N-S lines for soil sampling which returned strong multi-elements anomalies with Au, Pb, Cu, and other key elements. These results along with previous exploration work have outlined four new target areas on its Cecilia project in Sonora. Target 1 is a 4km long by 300m wide target where previous rock sampling has found up to 2 g/t Au in silicified conglomerates , but the soil anomaly is open in both directions beyond the 4 Km and more than 800m wide. Target 2 is a NE trending Ag, Pb, Au, Zn, Sb, Hg and Cu soil anomaly over 2km long and 600m wide in rock cracks with faults and host veining displaying a series of NW striking feeder dikes. Target 3 is a 1km long by 500m wide Au-Zn with minor Ag, Cu, Pb and Bi soil anomaly associated to a N-S trending fault system intersecting Paleozoic limestones. This target is also along the border edge of a magnetic high reported in a regional government geophysics survey likely associated with Pre Cambrian granitic basement.  Target 4 contains “high-grade gold samples in soils and alteration with jasperoid, silicification, and carbonate veining of the Paleozoic limestone that gives a potential limestone hosted Au with anomalous soil assays of Zn, Pb, Ag and Mn”.
  • Kootenay Silver Inc., announced that its partner Capstone Mining Corp., has commenced an exploration program on its la Mina project in Sonora. The exploration program will consists of detailed mapping and rock chip / stream sediment sampling to generate potential drill targets.
  • Harvest Gold Corporation, reported that Evrim Resources, its JV partner and operator on its Cerro Cascaron project in Chihuahua, has mobilized an advance team to the site to start preparations to drill test the property. The drill program, expected to commence at the end of September, will consist of 3,000 m to test the Cascaron Gold targets and the Cascarita Silver targets.
  • Sable Resources, released drilling results from its Margarita project in Chihuahua. Significant intersections are from hole M-DDH-18-09 with 6.5m of 111 g/t Ag Eq, including 3.5m of 153 g/t Ag; hole M-DDH-18-11 with 11.3m of 252 g/t Ag Eq, including 1.3m of 889 g/t Ag Eq; hole M-DDH-18-12 with 12.7m of 98 g/t Ag Eq, including 1.8m of 244 g/t Ag Eq. Additionally, Sable identified a low-grade stockwork style of mineralization evident in numerous holes. The most significant results are hole M-DDH-18-03 with 44.13m of 50 g/t Ag Eq, including 6.95m of 142 g/t Ag Eq; hole M-DDH-18-07 with 7.6m of 54 g/t Ag Eq, and hole M-DDH-18-12 with 21.35m of 37 g/t Ag Eq. “With the first stage of drilling now complete we will evaluate our results and formulate a plan for stage 2 drilling targeting further extensions of Margarita and the other adjacent parallel veins”.
  • Auxico Resources Canada Inc., reported high-grade sampling results from its Zamora project in Sinaloa. Significant results are 0.80m of 4Kg Ag and 29.2 g/t Au at La Franca claim, 600m southwest of the Campanillas mine along a structure that can be followed by at least 600m along strike. Mineralization consists of breccia-stockwork veining containing galena, sphalerite and possible silver sulphosalts, malachite and chalcopyrite. Other significant results are from Aguamas area where some channel samples returned 0.65m of 6.38 g/t Au and 23 g/t Ag; 0.70m of 14.7 g/t Au and 34 g/t Ag; 0.50m of 3.55 g/t Au and 108.7 g/t Ag; and 1.60m of 6.64 g/t Au and 220 g/t Ag.
  • Gainey Capital Corp., announced a phase 1 exploration program on its Las Margaritas project in Durango. Las Margaritas is a mineralized vein system that extends at least 1.5Km along strike and averages 1-2m in width. The 1st phase exploration program will consists of detailed mapping and sampling with the objective to identify prospective areas to generate the best drill targets.
  • Orex Minerals Inc., commenced an exploration program on its San Luis del Cordero project in Durango, where the company has an option to acquire 100% interest in the property from Exploraciones del Altiplano S.A. de C.V. Mineralization at San Luis del Cordero is characterized by skarn and epithermal vein Ag-Cu-Zn as a result of Tertiary-quartz-feldspar-porphyry intrusions affecting Jurassic and Cretaceous limestones, calcareous sandstones and shales. The project has seen several phases of exploration from different mining companies, including 16,400m drilled in 62 holes in the period 2000-2016. The property contains indicated resources of 662.6K tonnes of 121 g/t Ag, 0.78 % Cu and 1.1 % Zn for a total of 5.1M Oz Ag Eq, and inferred resources of 2, 785,300 tonnes of 144 g/t Ag, 0.75 % Cu and 1.45 % Zn, for a total of 24.4 M Oz Ag Eq.
  • Prospero Silver Corp., reported core drilling results from eleven holes totaling 2, 811m drilled at its Buenavista project in Durango. Mineralization drilled-tested at Buenavista consists of structurally controlled epithermal veins centered on a rhyolite dome complex. “All holes cut anomalous silver mineralization, with a best interval of 1.6m @ 353g/t Ag from 185.6m downhole, within a broader interval of 49m @ 43g/t Ag in hole BVF-18-05”.
  • Advance Gold Corp., started a second phase drilling program at its Tabasquena project in Zacatecas to test the La Tabasquena epithermal vein at a depth of 1,800m. Phase 2 will test below the gold discovery hole of phase 1. It also will test some of the potential feeder type targets and all of the veins below the oxide zone which goes down to an estimated 175 metres below surface.
  • Evrim Resources Corp., announced new trench and soil results from its Cuale project in Jalisco. Highlight results include the trench 2 which was extended from 29.4m to 184.1m with an average grade of 0.85 g/t Au, including 59.1m of 1.79 g/t Au, and including 21.6m of 4.18 g/t Au; Trench 4 , extended from 106.2m to 156.2m with an average grade of 9.57 g/t Au, including 64.6m of 20.85 g/t Au, and including 7.5m of 163.31 g/t Au; and Trench 5 which contains 174m of 0.62 g/t Au, including 70m of 1.16 g/t Au, and including 40m of 1.45 g/t Au. A soil grid with 200 metre spacing outlined a Au anomaly over the entire La Gloria prospect with grades >0.01 g/t Au of 2,300m by 800m with a central corridor of 1,700m by 300m >0.1 g/t Au extending north of the trenched area.  “The soil anomaly at higher elevation correlates with elevated silver, antimony, molybdenum, arsenic and low contents of manganese and zinc.  At lower elevations gold correlates with elevated copper, tellurium, arsenic, bismuth and iron”. “The new trench results expand the La Gloria zone to the northwest and the east with consistent gold mineralization.  Soil sampling indicates the La Gloria system footprint is measurably larger with the potential to host a significant deposit and/or additional mineralized centers within the La Gloria prospect”.   “The soil survey has a distinctive high sulphidation signature centred on a large gold in soil anomaly that is approximately 2,300 metres by 800 metres.  The results indicate a potential major system with significant upside for additional mineralized centers within the La Gloria prospect.”

ON MINING

  • Starcore International Mines Ltd., reported Q21 2018 results from its San Martin mine in Queretaro. Starcore milled 77,400 tonnes of 1.53 g/t Au and 49 g/t Ag to produce 3.3K Oz Au and 72.7K Oz Ag, with an all-in sustaining cost of US$ 1,215 for Eq Oz. Metallurgical recoveries were 88.1% for Au and 59.6% for Ag.
  • US Antimony Corporation, produced 131,184 Lb Sb and 1,244 short tonnes of zeolites in August 2018 and announced plans to increase its production of Sb, Au and Ag in Mexico. At its Wadley mine in San Luis Potosi, the general level will be reactivated by cleaning up the waste to provide access and transportation of the lower grade for the mill. At Sierra Guadalupe in Zacatecas, the Santa Monica drift will be restarted. The ore is primarily sulphides and can be upgraded to 60-70% Sb flotation concentrate at its Puerto Blanco Mill to make antimony tri-sulphide. At the Soyatal district in Queretaro, a buying program will be started to purchase direct shipping ore for its Madero smelter. The construction of the cyanide leach plant for the Los Juarez Au-Ag-Sb should allow pilot testing to commence during Q4 2018. The company also closed an agreement purchase, dismantle and transport an antimony plant from Reynosa, Tamaulipas. When installed, the equipment from the Reynosa plant will increase the capacity of the Madero Smelter in Coahuila to approximately 30,000,000 Lb per year of antimony oxide.

ON FINANCING

  • No relevant news.

 

ON RESOURCES AND DEVELOPMENT

  • SilverCrest Metals Inc., released drilling results from its Las Chispas project in Sonora and expanded the high grade at Babicanora Norte vein. Drill holes have intersected additional high-grade Ag-Au mineralization at Babicanora Norte vein which is located about 300m NE of Babicanora vein and apparently is connected with the Granaditas area which contains multiple veins to the southeast. The most significant results are 1.8 m of 15.11 g/t Au and 1,718 g/t Ag or 2,851 g/t Ag Eq, 1.6 m of 8.96 g/t Au and 1,078 g/t Ag or 1,750 g/t Ag Eq and 1.5 m of 4.22 g/t Au and 687 g/t Ag or 1 Kg Ag Eq. The drilling results of Babicanora Norte vein will be part of the upcoming updated resource which will include 8 of the 30 identified veins in the district.
  • Premier Gold Mines Limited, reported drilling results from the Rey de Oro deposit at its Mercedes mine in Sonora. Highlights results include hole UG-R018-013 which returned 12.64 g/t Au and 240.1 g/t Ag across 29.65 m (TW of 13.5 m), hole UG-R018-015 with 0.41 g/t Au and 3120.0 g/t Ag (91.0 oz/ton) across 1.52 m (TW of 1.06 m), and hole UG-R018-012 with 17.00 g/t Au and 321.0 g/t Ag across 1.1 m (TW of 0.8 m) and 4.47 g/t Au and 138.5 g/t Ag across 8.25 m (TW of 6.1 m). “Underground drilling at Rey de Oro consists of step-out and delineation drilling of this recently developed horizon. This drilling continues to intersect some of the widest vein intercepts on the property and demonstrate the potential to continue to extend the mine life at Mercedes”.
  • Aura Minerals Inc., provided an update at its Aranzazu mine in Zacatecas. Aura has obtained all the necessary permits and initiated the construction of the new tailings disposal system. “The Company expects the Aranzazu mine to achieve commercial production later this year and to achieve the average processing of 2,600 tonnes per day shortly thereafter”.
  • Candelaria Mining Corp., announced a PEA for its Pinos Gold project in Zacatecas. Highlight results from the PEA indicate an after tax net present value (NPV) of US$ 12M using a 5% discount rate, an after tax internal rate return (IRR) of 25%, and a 7 years life of mine with projected gold equivalent ounce (“GEO”) production of 89,000. The PEA includes a mineral resource estimate as of September 13, 2018. Measured resources (Dump) are 85,847 tonnes of 1.6 g/t Au and 83 g/t Ag for a total of 4,444 Oz Au and 229K Oz Ag. Indicated resources are 175,697 tonnes of 3.6 g/t Au and 47 g/t Ag for a total of 20.6K Oz Au and 268K Oz Ag. Inferred resources are 529,267 tonnes of 3.6 g/t Au and 48 g/t Ag for a total of 60.7K Oz Au and 811K Oz Ag. Average recovery for Au and Ag are 90 and 80% respectively. The company plans to have an annual production of 12,700 GEO with an overall average direct cash cost of %US 666 per GEO.
  • McEwen Mining Inc., reported that hopes to add 12 years of mine life at its El Gallo Complex in Sinaloa, combining mineralized sources from five locations that will be developed in two distinct process plant construction phases. McEwen plans to produce 47K Oz Au Eq per year.
  • Bacanora Lithium plc., announced plans to start the mine construction on its Sonora Lithium project in Sonora. $US 420M will be invested in the first phase and is expected to begin to operate in 2020.

ON DEALS AND CORPORATE ISSUES

  • Evrim Resources Corp., and First Majestic Silver Corp., agreed to exercise the Ermitaño and Cumobabi option agreements in Sonora. First Majestic has completed its 100% earn-in for both projects. First Majestic has paid $1.5M in cash to Evrim and has granted a 2% NSR in the case of Ermitaño project and 1.5% NSR in the case of Cumobabi project.
  • New Gold Inc., announced the appointment of its new President and CEO (Cerro San Pedro mine, San Luis Potosi).
  • Levon Resources Ltd., released results from its annual general meeting (Cordero project, Chihuahua).
  • Vangold Mining Corp., withdrew its submission to the TSX Venture Exchange to acquire the San Carlos property in Guanajuato.

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 banded quartz vein in an intermediate sulphidation epithermal project in Zacatecas, Mexico.  Photo by Miguel A Heredia.

ENDEAVOUR SILVER REPORTS UPDATED NI 43-101 MINERAL RESOURCE AND RESERVE ESTIMATES AND AN UPDATED PRE-FEASIBILITY STUDY FOR THE TERRONERA MINE PROJECT, JALISCO, MEXICO

news.18-19.terronera.resres.pfs-Final

VANCOUVER, British Columbia, Aug. 30, 2018 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (NYSE: EXK, TSX: EDR) has completed an updated Pre-Feasibility Study (“2018 PFS”) for its Terronera mine project located 40 kilometres northeast of Puerto Vallarta in the state of Jalisco, Mexico. The 2018 Updated PFS report and the updated Mineral Resource and Reserve Estimates were prepared in compliance with National Instrument 43-101 (NI 43-101) and will be filed on SEDAR and EDGAR within 45 days of this news release. All currency references herein are in US$.

Oroco Acquires Santo Tomas Data

oroco acquires santo tomas data

VANCOUVER, Aug. 15, 2018 /CNW/ – Oroco Resource Corp. (TSX-V: OCO) (US: ORRCF)(“Oroco” or “the Company”) is pleased to announce that it has agreed to purchase from John C.Thornton, former Vice-President – Engineering of Mintec, Inc., historical technical information anddata related to the Santo Tomas mineral deposit. Prepared by E.L. Bateman Engineering Company,Mountain States Research & Development International Inc., Mintec, Inc. and John Thornton, thedata includes drill hole assays and associated interpreted sections, drilling, composite and digitalmodels and reports dated from 1992 to 2011. Mr. Thornton and Mintec, Inc. have maintainedcustodial status of the data throughout that period and until present day.

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

By Miguel A Heredia

During the 29th week of the year (July 16th to July 22th, 2018), at least 30 press releases were announced by companies working in Mexico, with twelve informing on exploration results, nine announcing production results, four reporting on resources and developments, three communicating deals and corporate issues, and two  announcing financing issues.  ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Baja California Norte, One World Lithium presented geophysical results from its Salar del Diablo project. In Sonora, Colibri reported drill results from its El Pilar project, Minaurum reported exploration results from its Promontorio-Quintera project, San Marco announced exploration results from its Chunibas exploration program, and Millrock and Azure provided an exploration update on their Mexican properties. In Chihuahua, Mammoth Resources announced drill results from its Tenoriba project. In Coahuila, Discovery Metals reported exploration results from its Puerto Rico project. In Sinaloa, Kootenay presented exploration results from its Copalito project. In Durango, Southern Silver announced an expansion of the exploration program at its Cerro Las Minitas project. In Zacatecas, Advance Gold reported drill results from its Tabasquena project.  In the Estado de México, Impact discovered new zones at its San Ramon mine.  ON MINING, Several companies reported Q2, 2018 results on its Mexican operations. In Sonora, Mexus provided an update on its 370-8 Brothers property in Sonora. In Chihuahua, Sierra Metals announced Q2 results from its Bolivar and Cusi mines while GoGold reported results from its Parral property. In Sinaloa, Americas Silver presented Q2 results from its Cosala operation. In Durango, Avino reported Q2 results from its Avino mine. In Oaxaca, Fortuna Silver announced Q2 2018 results from its San Jose mine. First Majestic presented Q2 2018 results from its Mexican operations in Sonora, Sinaloa, Chihuahua, Durango, Zacatecas, Jalisco and Estado de Mexico. In Puebla, Almaden announced an increase of the average mill feed grades for its Ixtaca property.  ON FINANCING, Bacanora Minerals dropped a $100M placing for its Sonora Lithium project in Sonora. Candente announced the approval to extend the purchase of 5M of share warrants. ON RESOURCES AND DEVELOPMENT, Aranzazu filed a NI 43-101 FS for the restart of operations at its Aranzazu mine in Zacatecas and updated the resource estimate. Starcore filed updated 43-101 technical report on its San Martin mine. Capstone filed a NI 43-101 technical report for its Cozamin mine in Zacatecas. Gold Resource announced an expansion of its Arista Mine in Oaxaca. ON DEALS AND CORPORATE ISSUES, Evrim announced results of its annual and special general meeting of shareholders.  Silver Spruce executed an offtake agreement for potential future production from its Pino de Plata project in Chihuahua.

ON MEXICO ISSUES

  • No relevant news.

 ON EXPLORATION

  • One World Lithium Inc., presented results from a geophysical survey conducted on its Salar del Diablo project in Baja California Norte. Three very large and highly conductive zones were identified by a Volterra TEM in loop survey. Zone 1 is > 100m thick and covers six square km. Zone 2 surrounds Zone 1 and is < 100m thick and covers 24 square km. Zone 3 is estimated to be approximately 200m thick and covers > 30 square km.
  • Colibri Resources Corporation, reported RC drilling results from its Pilar project in Sonora. Significant results are 61m of 0.75 g/t Au, including 1.5m of 17.3 g/t Au; 6m of 0.68 g/t Au; 3m of 5.40 g/t Au; and 34.5m of 0.32 g/t Au. The drill results extend the Main Zone´s mineralized envelope to the northwest and southeast by upwards of a total of 145m. It represents an increase of 52% in the length of the Main Zone. Potential is open in both directions of the mineralized zone.
  • Minaurum Gold Inc., discovered the extension of the Promontorio-Quintera and Nueva Europa veins at its Alamos Silver project in Sonora. The Promontorio-Quintera vein was mapped and extends for 1km and is cut-off and down-dropped by a northwest trending fault while the Nueva Europa vein was mapped for over 600m. The extensions have the potential to host virgin mineralization at depth. Surface sampling on Promontorio South vein returned 1.1m of 181 g/t Ag and 1.06% Cu, while at Nueva Europa South vein, a 0.8m long chip rock sample returned 52 g/t Ag and 0.54% Cu, and a dump sample returned 91 g/t Ag and 1% Cu.
  • San Marco Resources Inc., identified many new significant Cu-Ag occurrences at its Chunibas property in Sonora; conducted a portable X-ray fluorescence rock analysis on an area of 300m by 1,400m, indicating anomalous to significant copper values, and received assays from ninety six rock chip samples ranging from 0.1% to 1.34% Cu. The company also carried out a saw-cut continuous channel sampling returning 30m of 0.16% Cu and 3 g/t Ag, and 22m of 0.17% Cu and 2 g/t Ag. Now, the mineralized NW-SE corridor is 1.7Km long by 300m wide, and remains open along strike and down dip. San Marco has begun preparations to perform a drill program at its Chunibas property.
  • Millrock Resources Inc., provided and exploration update on their Mexican properties in Sonora and San Luis Potosi. In Sonora, at La Navidad project, a 2,900m drilling program has been recently completed to test the El Cobre and the Crossover targets. Complete results are anticipated in early August. At El Picacho project (Orogenic gold), drill targets are emerging from the exploration work conducted in the first half of 2018. The company has authorized a drill program to begin later in the summer. At Batamote, good geological signs of a porphyry copper deposit have been identified and a major company is currently evaluating the property. At Los Cuarenta project (low-sulphidation epithermal Au-Ag), Millrock has acquired an option to purchase a key internal claim called Santa Rosalia. Drilling targets have been developed and drilling permit is in place. In San Luis Potosi, the Guadalcazar project hosts a high-grade Ag-Pb-Zn skarn with good drill intersections and historic mine workings, with potential to expand the known deposit. Millrock has received an offer to form an option agreement.
  • Azure Minerals Limited., provided an exploration update on its Sara Alicia and El Alacran properties in Sonora. At the Sara Alicia project, the stage 2 drilling campaign confirmed near-surface, high-grade Au-Co mineralization with maximum grade returning 53.8 g/t Au over 0.90m and 2.82% Co over 0.80m. The best Au interception was 19.6m of 8.6 g/t Au, including 15.3m of 10.6 g/t Au, while the best Co interception was 3.65m of 1.19% Co, including 1.5m of 2.66% Co. At the El Alacran project, the drilling campaign indicated the southern expansion of Loma Bonita epithermal Au-Ag system based on the presence of silicified zones covered by fresh-rock and high-resistivity geophysical anomalies extending to depth. At Cerro Colorado the company geologists identified the presence of porphyry-type alteration and veining with trace copper and molybdenum mineralization, warranting follow-up work. Teck will continue exploring the property with drilling planned to restart in Q3 2018.
  • Mammoth Resources Inc., announced drill results from its Tenoriba project in Chihuahua. Results are from the Masuparia area, in the central portion of the 6 km long trend of gold mineralization on the property. Significant results are 3m of 0.19 g/t Au and 10 g/t Ag in hole TEN 17-09 and multiple intersections in hole TEN 17-10 such as 4.5m of 0.42 g/t Au and 8 g/t Ag; 4.5m of 0.45 g/t Au and 3 g/t Ag, 22.5m of 0.35 g/t Au and 4 g/t Ag, 3m of 1.31 g/t Au and 50 g/t Ag, 3m of 0.65 g/t Au and 5 g/t Ag, and 24m of 0.31 g/t Au and 4 g/t Ag.
  • Discovery Metals Inc., reported underground channel sample results from the San Jose mine within its Puerto Rico project in Coahuila. Assay results represent 140m of workings and were collected at 3-5m intervals along both sides of the entire length of the developed workings. Mineralization is related to mantos, chimneys and faults. Mantos range from 0.5m to 1.5m in width (restricted by dimensions of workings) and are open in all directions laterally along strike and dip. Fourteen samples from mantos returned an average of 229 g/t Ag, 9.3% Pb, 17.6% Zn, and 0.3% Cu. Chimney widths range from 1m to 6m, with the main part of the chimney having a width of 5-6m, while the mineralized faults widths range from 0.4m to 1.4m, and are open along strike and at depth. Thirty three samples from chimneys and faults returned an average grade of 50 g/t Ag, 3.5% Pb, 4% Zn, and 0.8% Cu. The company is currently carrying out a detail structural study on the entire property to identify controls on mineralization. Additionally, it is planning to conduct a magnetic survey in preparation for drilling later in 2H 2018.
  • Kootenay Silver Inc., presented sampling results from its Copalito project in Sinaloa. Copalito is a low-sulphidation epithermal vein system. At least 4 main veins and numerous smaller veins have been identified, with individual veins found to be up to 15m wide and at least 2km long along strike. Eleven samples (5 chips and 6 grabs) on Cobriza vein returned grades from 47 to 2.5 kg/t Ag and 0.03 to 2.7 g/t Au, while twenty two samples on El Pilar vein returned grades from 2 to 166 g/t Ag and 0.04 to 1.05 g/t Au. Mapping and sampling on the La Chiva and Cinco Señores veins in the southern area of Copalito is ongoing. All the results will be used to determine grade distribution along the veins for drill targeting.
  • Sothern Silver Exploration Corp., announced an expansion of the exploration program at its Cerro Las Minitas project in Durango, with the mobilization of a second drill rig. The objective is to drill 2,000m of core to test multiple Ag-Au quartz veins within the recently acquired CLM West claim. Drill targets were identified by mapping and ground geophysics, and a sampling program of over 6000 float and rock chip samples throughout a >10km by 5km N-S corridor underlying the 207 square km CLM West claim package.
  • Advance Gold Corp., reported phase 1 drill results from its Tabasquena project in Zacatecas. Significant results are 10.5m of Au-Ag mineralization including 1.7m of 9.46 g/t Au and 37 g/t Ag, 0.55m of 12.65 g/t Au and 28 g/t Ag, and 0.55m of 6.31 g/t Au and 42 g/t Ag. The company is planning a second phase drill program to test the recently discovered veins and explore for new ones, as well as to follow-up on the high-grade gold intersections.
  • Impact Silver Corp., discovered new zones at its San Ramon mine through an underground drill program. Significant results with intersections 100m south of the current levels of the San Ramon mine are 2.04m of 0.23 g/t Au, 661 g/t Ag, 1.28% Pb, and 3.28% Zn; 4.97m of 0.12 g/t Au, 354 g/t Ag, 0.57% Pb and 1.48% Zn; and 1.25m of 0.1 g/t Au, 259 g/t Ag, 0.34% Pb and 1.14% Zn. The zone remains open for further extension vertically above for nearly 300m and to the south.

ON MINING

  • Mexus Gold US, provided and update on its 370-8 Brothers property in Sonora. VAT leaching test of oxidized sulphide ore reported that 50% of the sulphides remain as encapsulated Au and Ag bearing mineralization, with As, Pb and Zn, making difficult its extraction by simple gravity and/or cyanide leaching, unless they are pretreated via roasting to eliminate the sulphur. “About 80 tons of this oxidized ore was crushed to < 3 inches and put in a steel tank and leached for a period of 25 days.  Eight head assay samples were taken averaging 1g/t Au and 50 g/t Ag with one sample showing 30 g/t Au and another sample with 800 g/t Ag.  Solution was assayed daily for a week showing recoveries of 1.25% in gold and 13% in silver with a slow increase after a week and large cyanide consumption.  The solution was assayed after 3 weeks and turned out to have minimum increase up to 26% in silver and gold remaining the same”.
  • Sierra Metals Inc., reported Q2 results from its Bolivar and Cusi mines in Chihuahua. At Bolivar mine, a total of 272K tonnes were processed at grades of 0.15 g/t Au, 17 g/t Ag, and 0.97% Cu to produce 911 OZ Au, 110K Oz Ag, and 4.7M Lb Cu, with metallurgical recoveries of 71.81%, 75.53% and 81.33% respectively. At Cusi mine, a total of 46.4K tonnes were processed at grades of 0.16 g/t Au, 156 g/t Ag, 0.4% Pb, and 0.3% Zn, to produce 96 Oz Au, 190K Oz Ag, and 287K Lb Pb, with metallurgical recoveries of 39.8% Au, 81.66% Ag, 77.22% Pb and 0% Zn.
  • GoGold Resources Inc., presented Q2 2018 results from its Parral operation in Chihuahua. GoGold processed 447K tonnes of tailings material to produce 164K Oz Ag and 1,630 Oz Au.
  • Americas Silver Corporation, announced results from its Cosala operation in Sinaloa. On Q2, 2018, the company milled 139K tonnes of 42 g/t Ag to produce 94K Oz Ag, 2.9M Lb Pb, and 8.7M Lb Zn
  • Avino Silver & Gold Mines Ltd., presented Q2 2018 results from its Avino mine in Durango. The company processed 184.7K tonnes of 0.42 g/t Au, 70 g/t Ag, and 0.45% Cu to produce 1,734 Oz Au, 323 Oz Ag, and 1.48M Lb Cu, with metallurgical recoveries of 75%, 81% and 90% respectively.
  • Fortuna Silver Mines Inc., reported Q2 2018 results from its San Jose mine in Oaxaca. Fortuna milled 134K tonnes of 1. 86 g/t Au and 268 g/t Ag to produce 14.4K Oz Au and 2M Oz Ag with metallurgical recoveries of 91.54% and 91.67% respectively.
  • First Majestic Silver Corp., announced Q2, 2018 production results from its Mexican operations. At Santa Elena mine in Sonora, a total of 228K tonnes of 2.3 g/t Au and 120 g/t Ag were milled to produce 11K Oz Au and 535K Oz Ag. At San Dimas mine in Sinaloa, a total of 85.7K tonnes of 4.3 g/t Au and 307 g/t Ag were processed to produce 11.3K Oz Au and 809K Oz Ag. At La Encantada mine in Chihuahua, a total of 238K tonnes of 83 g/t Ag were processed to produce 23 Oz Au and 325K Oz Ag. At La Parrilla mine in Durango, a total of 123.6K tonnes of 131 g/t Ag, 1.4% Pb and 1.5% Zn were milled to produce 235 Oz Au and 361K Oz Ag, 1.6M Lb Pb, and 1.4M Lb Zn. At Del Toro mine in Zacatecas, a total of 65.8K tonnes of 117 g/t Ag and 2.7% Pb were processed to produce 73 Oz Au, 167.6K Oz Ag, and 2.3M Lb Pb. At San Martin mine in Jalisco, a total of 74.4K tonnes of 0.6 g/t Au and 203 g/t Ag were milled to produce 1,331 Oz Au and 138.4K Oz Ag. At La Guitarra mine in Estado de Mexico, a total of 35.7K tonnes of 1.5 g/t Au and 154 g/t Ag were milled to produce 1400 Oz Au and 138.4K Oz Ag. Unfortunately, First Majestic announced the temporary suspension of work at its la Guitarra mine scheduled to start on August 1st. It is until economic conditions improve or the property is sold.
  • Almaden Minerals Ltd., announced an increase of the average feed mill grades of 39% for Au and 47% for Ag from bulk ore sort test for its Ixtaca project in Puebla. Applying the ore sort process, the metallurgical recovery is 88% for Au and 93% for Ag and reduces the environmental footprint over the life of mine by reducing process tailings, water usage and energy requirements and CO2 “The detailed impact of the ore sorting results on the Ixtaca project will be evaluated as part of the ongoing Feasibility Study, which is anticipated to be completed in 2018”.

ON FINANCING

  • Bacanora Lithium plc., dropped a $100M placing for its Sonora Lithium project in Sonora, citing “difficult market conditions”.
  • Candente Gold Corp., announced the approval to extend the exercise period of 5M of share purchase warrants from August 12, 2018 to August 12, 2020.

 ON RESOURCES AND DEVELOPMENT

  • Aura Minerals Inc., filed a NI 43-101 FS for the restart of operations at its Aranzazu mine in Zacatecas. The company also updated the mineral resource and reserve estimates. Measured + indicated resources are 12.5M tonnes of 1.08 g/t Au, 20 g/t Ag, and 1.61% Cu for a total of 435K Oz Au, 8M Oz Ag and 444.4M Lb Cu. Proven and probable reserves are 4.6M tonnes of 1.17 g/t Au, 19 g/t Ag, and 1.72% Cu, for a total of 174K Oz Au, 2.8M Oz Ag, and 176.4M Lb Cu. (Mineral reserves are inclusive of mineral resources). The orebody consists of seven mineralized domains and has a strike length of 1.5km, width up to 250m and 600m depth. The mineral resource estimate is based on 1,336 holes for a total of 219,586m.
  • Starcore International Mines Ltd., filed an updated 43-101 technical report for its San Martin mine in Queretaro in which reported mineral resources and reserves as of April 30, 2018. Total proven + probable reserves are 1.65M tonnes of 2.11 g/t Au and 33 g/t Ag for a total of 154.4K Oz Au Eq. Total indicated + inferred resources are 1.5M tonnes of 1.94 g/t Au and 25 g/t Ag for a total of 113K Oz Au Eq. The total mineral reserves and resources are 3.1M tonnes of 2.03 g/t Au and 29 g/t Ag for a total of 267.3K Oz Au Eq.
  • Capstone Mining Corp., filed a NI 43-101 technical report for its Cozamin mine in Zacatecas. In this TR, Capstone reported a mineral resource estimate which was announced on the past June 05, 2018.
  • Gold Resource Corporation, announced significant drill interceptions of 23.39m @ 2 g/t Au, 200 g/t Ag, 0.58% Cu, 3.1% Pb, and 9% Zn, including 1.66m of 8.92g/t Au, 1.3Kg/t Ag, 0.93% Cu, 6.3% Pb and 8.8%Zn, and 9.94m @ 2.16 g/t Au, 95 g/t Ag, 0.82% Cu, 4.1% Pb and 12% Zn, including 3.1m @ 3.99 g/t Au, 177 g/t Ag, 1.01% Cu, 7% Pb, and 14.5% Zn to expands the Switchback´s strike length by approximately 100m, and discovered a new structure in the Arista vein system intercepting 2.08m @ 1.98 g/t Au, 1.6Kg Ag/ton, 0.25% Cu, 1% Pb, and 2.2% Zn, including 0.9m of 3.31 g/t Au, 2.7Kg/t Ag, 0.45% Cu, 2% Pb, and 4.1% Zn.

ON DEALS AND CORPORATE ISSUES

  • Evrim Resources Corp., announced results of its annual and special general meeting of shareholders. (Cuale project, Jalisco).
  • Silver Spruce Resources Inc., executed an offtake agreement with IBB International Holdings Limited for potential future production from its Pino de Plata project in Chihuahua. “The Company has agreed to deliver any and all future production from the Pino de Plata project for a period of at least ten years, commencing with the first delivery. The ten-year term of the agreement will automatically extend by successive one-year terms, unless either party expresses written desire o terminate the agreement. The purchase price of the delivered production will be at a three percent (3%) discount to the London Metals Exchange metals pricing on the dates of delivery to the buyer”.

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 diatreme breccia in a prospect in Durango, Mexico. Photo by Miguel A Heredia.

 

 

 

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

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By Jorge Cirett

During the 24th week of the year (June 11th to June 17th, 2018), at least 16 press releases were announced by companies working in Mexico. Four companies updated on exploration advances, and one the commencement of mining activities. Four companies announced financing rounds, loans and bonds for an aggregate of over $55 M. One company disclosed news on drilling near resources and development while one other released metallurgical test results. ON MEXICO ISSUES, mining companies are awaiting a Supreme Court resolution on a Zacatecas State tax imposition on mining. ON EXPLORATION, In Sonora, Aloro updated on exploration work at Los Venados; Colibri finished drilling at El Pilar, and released results from a soil survey; Colibri disclosed drilling results by Agnico at its Pitaya project. In Veracruz, Azucar Minerals started a drilling campaign on the Norte zone and the north part of the Villa Rica zone at its El Cobre porject. ON MINING, Mexus started pilot mining at its 8 Hermanos property in Sonora. ON FINANCING, Alamaden raised $9.4 M; Starcore launched a private placement for CDN$3 M; Telson paid US$8 M and obtained a loan for US$8.5 M; Endeavour Silver is to sell common shares for an aggregate of up to $35.7 M. ON RESOURCES AND DEVELOPMENT, SilverCrest Metals released high-grade results from drilling of the Granaditas vein on Las Chispas project, in Sonora. Azure Minerals released metallurgical test results from Oposura, also in Sonora. ON DEALS AND CORPORATE ISSUES, Starcore decided not to go ahead with the acquisition of the Santa Fe property in Sinaloa. Defiance Silver entered into an agreement to acquire Mag Silver’s properties in the Zacatecas District.

ON MEXICO ISSUES

  • Fresnillo PLC and Mag Silver Corp. are awaiting a Supreme Court (Suprema Corte de la Nación) resolution on a mining duty attached to environmental impact, set by the state of Zacatecas. The federal government challenged the State’s right to impose such a duty back in 2017.

ON EXPLORATION

  • Aloro Mining Corp. updated on its exploration of the Los Venados project in Sonora. Mapping and sampling have defined a rhyodacitic volcanic dome associated with high sulfidation style alteration with Au-Bi-Mo anomalies. Several felsic dome/silica breccia complexes have been located, with the highest priority target on the dome at the southeast part of the property, where gold in soil anomalies and IP anomalies coincide. A new environmental report is being submitted to the authorities, seeking permit for 12 reverse circulation holes.
  • Colibri Resource Corp. completed the final 900 m of its 3,000 m phase 1 drilling program on its Pilar project in Sonora. Samples have been taken to the lab and results are pending. A 56 sample soil survey returned 10 samples greater than 0.1 g/t Au, and 3 samples over 1 g/t Au.
  • Colibri Resource Corp. released results from drilling on its Pitaya project in Sonora, by joint venture partner Agnico Eagle. Highlighted results from the last four holes comprise 9 m @ 0.26 g/t Au; 26 m @ 0.19 g/t Au; 34 m @ 0.22 g/t Au. During 2016-2017, Agnico drilled 7,641 m in 27 drill holes.
  • Azucar Minerals Ltd. has begun drilling the North zone and the north end of the Villa Rica zone of its El Cobre project in Veracruz. Preparations for this drilling campaign include surface and soil geologic and alteration focused mapping and sampling. “The current drilling at Villa Rica is focused on the Naranjo zone, a new area of exposed porphyry alteration and mineralisation located approximately 500 metres north of the previous Villa Rica drilling and about 1.2 kilometres south of the Norte Zone.”

ON MINING

  • Mexus Gold US begun mining at the 8 Brothers/370 project in Sonora. “The company has mined 1000 tons of material containing an average of 9 grams Au and 50 grams Ag per ton. This material is currently being run through a crushing system and placed into an aerated VAT holding tank”. Its portable Merril Crowe system has been installed and tested.

ON FINANCING

  • Almaden Minerals Ltd. closed its previously announced non-brokered private placement, raising gross proceeds of $9.44 M. Finders fees of $384.9 K cash and finder warrants of 192,450 shares at $1.35 until June 7, 2020 were paid to arms-length, licensed securities dealers on a portion of the offering (Ixtaca, Puebla).
  • Starcore International Mines Ltd. launched a private placement of secured bonds for CDN$3 M. “The Bonds will bear interest at 8% per annum, payable on maturity, and will mature 24 months from the date of closing” (San Martin mine, Queretaro).
  • Telson Mining Corp. announced the payment of US$8 M to Nyrstar Mining Ltd. as partial payment, and entered into a loan agreement with Nyrstar Canada (Holdings) Ltd. that converts the final US$8.5 M due on the Campo Morado acquisition agreement into a loan that extends the payment terms for eight months. The principal due is US$8.5 M that are to be paid starting July 13, 2018 with a monthly minimum of US$1 M plus interest, plus 70% of the free cash flow generated by Telson and any monthly excess cash balance above US$500 K.
  • Endeavour Silver Corp. is to sell from time to time and its discretion common shares for an aggregate of up to US$35.7 M, through “at the market” distributions (Terronera, Jalisco).

ON RESOURCES AND DEVELOPMENT

  •  SilverCrest Metals Inc. announced new drill results for the Granaditas vein at its Las Chispas property in Sonora. Highlighted true width (TW) intervals comprise 1.5 m @ 3.63 g/t Au, 190 g/t Ag; 1.8 m @ 12.14 g/t Au, 1,440 g/t Ag (including 0.40 m @ 47.50 g/t Au, 5,620 g/t Au); 1.3 m @ 3.24 g/t Au, 339 g/t Ag; 1.2 m @ 1.23 g/t Au, 114 g/t Ag. The vein has a high-grade footprint currently at 150 m long by 100 m high and 1.5 m average true width, grading 5.69 g/t Au, 596 g/t Ag.
  • Azure Minerals Ltd. released metallurgical test work results on its Oposura project in Sonora. Azure highlights a 34% overall increase in the recovery of Pb and Zn using a dense media separation technique.

ON DEALS AND CORPORATE ISSUES

  • Starcore International Mines Ltd. completed its due diligence and review of the Santa Fe project in Sinaloa, under a previously signed LOI (letter of intent). Starcore will not be proceeding with the acquisition.
  • Defiance Silver Corp. entered into an agreement to acquire Mag Silver’s Zacatecas silver district holdings. Mag Silver is to receive 5 M common shares of Defiance, approximately a 5% investment position. Defiance is to receive a 100% interest in the Lagartos project, along with a regional database. The company is to control 1,506 ha, including 65% of the Veta Grande vein and the San Acacio silver deposit.

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, intense kaolinitization of felsic volcanic rocks on a shallow epithermal system in Guanajuato. Picture by Jorge Cirett.

 

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.

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

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On the picture above, take geologists to a mining museum, and this is what you get. Geologists Ruben Padilla, Barry Quiroz and Miguel Heredia at El Oro Museum in Estado de Mexico. Photo by Jorge Cirett.

By Jorge Cirett

During the 12th week of the year (March 19th to March 25th, 2018), at least 16 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, a gold nugget weighing 850 grams was found in northern Sonora. ON EXPLORATION, In Sonora, Colibri has begun drilling at El Pilar project; while Azure updated work on its Oposura project releasing new high grade drill results. Kootenay has drilled six of seven holes on one target of its La Cigarra project, other targets to follow. ON MINING, three companies, Primero Mining, Excellon and Sierra Metals presented financial and or production results for the fourth quarter and/or full year 2017. Santacruz Silver completed expansion of milling capacity at Veta Grande in Zacatecas.  ON FINANCING, Evrim received $3 M from the exercise of warrants.  ON RESOURCES AND DEVELOPMENT, Americas Silver presented an updated resource on its San Felipe property in Sonora. Almaden provided an update on work being done on the feasibility study at the Ixtaca project in Puebla. ON DEALS AND CORPORATE ISSUES, Alio Gold is to acquire all shares outstanding of Rye Patch, a company with several properties in USA. Bacanora Minerals extended the timetable for re-domiciling by a few days. Sonoro executed an option agreement on a group of properties adjoining its Cerro Caliche property in Sonora.

ON MEXICO ISSUES

  • A gold nugget weighing 850 grams was found in La Cienega area, south of Pitiquito in Sonora. The nugget was discovered using a metal detector by a local gambusino. Northwest Sonora is known by the presence of orogenic gold style deposits, like La Herradura, Nochebuena, La Choya, San Francisco and El Chanate. This type of ore deposits has produced large gold nuggets, of up to 12 kg in weight, with the most famous specimens coming from the El Boludo, La Cienega and Tajitos gold placers.

ON EXPLORATION

  • Colibri Resource Corp. has begun phase 1 of its 2018 drilling program on its Pilar property in Sonora. The program envisages up to 30 holes to be drilled focusing on modelling and extending the known mineralization of the Main Zone to the northwest and southwest along trend. “To date, Colibri has defined an in-house resource of 700 K tonnes @ 1.9 g/t Au”.
  • Kootenay Silver Inc. informed on advances on the current drill program at its La Cigarra property in Chihuahua. Six holes have been completed, and one more is in progress at La Borracha zone, which is the extension of the structure that hosts La Cigarra resource, and drilling has now tested 1,000 m of strike length beyond the resource. Results will be disclosed once all assays have been received. The next drill target is the newly identified Nogalera gold zone, with 8 holes planned on anomalous mineralization over more than 1,000 m of length. Once Nogalera has been drilled, the 104-Vein on the southern part of La Cigarra resource is to be drill tested.
  • Azure Minerals Ltd. updated on work being done at its Oposura project in Sonora. Drilling along strike of an outcrop carrying up to 59.6% Pb+Zn on the West Zone intersected high grade mineralization over an area of 400 x 400 m. Some of the best combined Pb + Zn intercepts returned 2.4 m @ 15.5%. 7.4 m @ 15.9%, 2.8 m @ 19.0%, 3.7 m @ 15.6%, 3.5 m @ 13.2%, 4.6 m @ 15.0%. To date drilling in the West Zone has comprised 64 holes for 4,936 m, with assay results received for 26 drill holes.

ON MINING

  • Primero Mining Corp. reported financial and operating results for 4Q and full year 2017. Primero commenced a strategic review process that resulted in the sale of the Cerro del Gallo project (Guanajuato) in November 2017, and the entering into an arrangement agreement whereby First Majestic will acquire all issued and outstanding common shares of Primero. At San Dimas in Durango, 21,076 Oz Au and 1.32 M Oz Ag were produced during the fourth quarter. For full year 2017, San Dimas produced 111,376 Oz Au, 3.96 M Oz Ag. A strike at San Dimas in early 2017 stopped work for more than two months, significantly impacting yearly production levels.
  • Excellon Resources Inc. reported financial results for the fourth quarter and full year 2017. During the fourth quarter the Platosa mine in Durango produced 16.1 K tonnes, processing 18 K tonnes @ 424 g/t Ag, 3.8% Pb, 5.8% Zn, with recoveries of 90.3% Ag, 80.0% Pb, 82.2% Zn, to produce 206.4 K Oz Ag, 1.17 M Lb Pb, 1.67 M Lb Zn. For the year 57.2 K tonnes were produced, while milling 55.6 K tonnes @ 456 g/t Ag, 4.4% Pb, 5.7% Zn, with recoveries of 90.5% Ag, 82.1% Pb, 80.1% Zn, producing 668 K Oz Ag, 4.09 M Lb Pb, 4.60 M Lb Zn. During 2017 the optimization plan was completed at the Platosa mine, resulting in dry mining conditions that increased production and lowered the costs. Total cash cost per Ag Oz decreased to $10.38, with an AISC of $21.89. All in sustaining cost was $15.84 per Ag Oz for the fourth quarter and $21.89 per Ag Oz for the year.
  • Santacruz Silver Mining Ltd. informed that expansion of milling capacity at its Veta Grande project to 750 tpd (tonnes per day) has been completed. The mill is currently operating at 450 tpd, and full capacity operations are expected to be achieved early in the second quarter 2018. Santacruz now will focus in the consolidation of underground operations.
  • Sierra Metals Inc. reported fourth quarter and year end 2017 financial results, without separating figures for its operations in Mexico. Production at Bolivar is expected to reach 3,000 tpd in Q1 2018 and 3,500 tpd in the second half of 2018. An update in resources is expected in the coming months. At Cusi production is being ramped up to the 650 tpd Mal Paso mill capacity by Q2 2018. The installation of another mill is expected to take production to 1,200 tpd by 2019. At the end of the period the company had 23.9 M in cash and cash equivalents.

ON FINANCING

  • Evrim Resources Corp. received $3.06 M from the exercise of common share purchase warrants, representing 98% of the warrants issue dated December 16, 2015. As a result, Evrim’s current cash position approximates $5.5 M (Cerro Cascaron, Chihuahua).

ON RESOURCES AND DEVELOPMENT

  • Americas Silver Corp. provided an update on the mineral resource estimate at the San Felipe project in Sonora (optioned from Hochschild in early 2017). Of 342 holed drilled by four companies since 1998, 294 are within La Ventana, San Felipe, Transversales and Las Lamas deposits which host the current resource. The new resource contains 4,685 K tonnes @ 5.4% Zn, 2.5% Pb, 61 g/t Ag in the indicated category and 2,008 K tonnes @ 3.6% Zn, 1.4% Pb, 48 g/t Ag in the inferred category. These resources host 560 M Lb Zn, 256 M Lb Pb, 9.1 M Oz Ag; 158 M Lb Zn, 63 M Lb Pb, 3.1 M Oz Ag respectively.
  • Almaden Minerals Ltd. updated on work related to the feasibility study (FS) at the Ixtaca project in Puebla. Work underway includes a resource model update, metallurgy testwork, engineering design, optimization studies, work to move the Rock Creek processing plant to Ixtaca, construction planning, geotechnical site investigation and water management studies. Almaden is also preparing an environmental impact assessment study (Manifiesto de Impacto Ambiental, or MIA) for Ixtaca.

ON DEALS AND CORPORATE ISSUES

  • Alio Gold Inc. and Rye Patch Corp. entered on an arrangement under which Alio Gold (San Francisco, Sonora; Ana Paula, Guerrero) is to acquire all the outstanding shares of Rye Patch (Florida Canyon, Nevada; Lincoln Hill, Nevada). The offer values Rye Patch outstanding equity at C$128 M. The transaction is expected to close on or about May 25, 2018.
  • Bacanora Minerals Ltd. announced that the proposed timetable for the proposed Re-domicile has been changed to 26 March 2018.
  • Sonoro Metals Corp. executed a formal option agreement with a Tucson, Arizona resident to acquire a 100% interest in the 403.5 ha Rosario group of concessions, adjacent to its Cerro Caliche property in Sonora, thus increasing the land holdings of the project to 1,455 ha. The option agreement entails a total consideration to the vendor of US$1.6 M, payable in escalating cash installments over 72 months, and a 2% NSR which can be bought for US$1 M for each percentage point. The initial US$60 K was paid on execution. Total drilling in the two properties before 2008 is 10,118 m in 101 holes.

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

 

 

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

By Miguel A Heredia

During the 9th week of the year (February 26th to March 4th, 2018), at least 25 press releases were announced by companies working in Mexico, with six reporting deals and corporate issues, six providing exploration results, and two announcing financing rounds. ON MEXICO ISSUES, Torex clarified media misinformation in Guerrero. ON EXPLORATION, In Sonora, Aztec Minerals reported drilling results at its Cervantes property, and San Marco completed an IP survey at its 1068 project. Azure reported exploration results on Mina Blanca prospect within its Oposura project.  In Chihuahua, Mammoth and Golden Minerals announced drill results at its Tenoriba and Santa Maria projects respectively. Golden Minerals also reported drill results at its Mogotes project in Durango. In Zacatecas, Defiance Silver identified a large target within its San Acacio project; Advanced Gold revealed exploration plans on its Tabasquena project.  In Puebla, Almaden reported drill results at its Ixtaca project. ON MINING, Mexus Gold restarted the pad leaching at its Santa Elena Mine in Sonora (Caborca).  Goldgroup announced 2017 gold production and expansion plans for its Cerro Prieto Mine in Sonora. Bacanora Minerals reported positive economics and favourable operating cost for its Sonora Lithium project in Sonora. Santacruz reported mill expansion capacity on its Veta Grande Mine in Zacatecas.  Endeavour and Golden Minerals reported 2017 financial results on its Mexican operations. ON FINANCING, Almaden announced a proposed private placement for $ 5.6M, and announced a subscription agreement with Newcrest Mining for gross proceeds of $ CAD 19M. Azure secured funding of approximately A$ 8.2M. ON RESOURCES AND DEVELOPMENT, Golden Minerals encountered mineralization in 14 holes drilled to increase the size of the existing resource estimate in its Santa Maria project in Chihuahua.  Americas Silver provided an update on exploration results at its 120 zone, within the Cosala Mine in Sinaloa. Santacruz Silver announced additional drilling at its Veta Grande Mine in Zacatecas. In Veracruz, Mexican Gold Corporation reported drilling results from its Las Minas projects, in Veracruz. ON DEALS AND CORPORATE ISSUES, Excellon entered in a toll mill agreement with Hecla. Golden Minerals extended an option with HECLA to lease its oxide mill located in Velardeña, Durango.  The company also amended the Celaya farm-out agreement with Electrum Global. Gainey Capital signed a letter of intent for the purchase and processing of a bulk sample with Grupo Wolinak. Newcrest acquired interest in El Cobre project. Torex appointed CFO. Dyna Resources announced favorable decision on its conflict with Goldgroup.

ON MEXICO ISSUES

  • Torex Gold Inc., clarified media misinformation regarding a land agreement with Real del Limon Ejido in Guerrero. The company confirmed a binding 30-year land lease agreement with the Ejido.

ON EXPLORATION

  • Aztec Minerals Corp., announced phase 1 drill results at its Cervantes project in Sonora. Significant drill results comprise 122m from surface of 0.60 g/t Au, including 62m of 0.88 g/t Au, and 170m from surface returning 0.42 g/t Au, including 32m of 0.87 g/t Au. This phase 1 drill program is focused on defining oxide gold mineralization in the upper 200m.
  • San Marco Resources Inc. , completed a 2km by 2.8 km grid IP survey at its 1068 porphyry copper, gold and molybdenum project in Sonora. This survey detected a 1.2 km by 1.3km chargeability anomaly which coincides with pervasive quartz-sericite-clay-pyrite ± iron oxide alteration previously mapped on surface.
  • Azure Minerals Limited, identified a 500m long by 250m wide strong zinc and lead soil anomaly at its Mina Blanca prospect within the Oposura project in Sonora and is coincident with high-grade mineralization from a rock sample collected in the Mina Blanca old working. Soil samples were tested with a portable XRF analyzer, with values reaching highs of 0.32% Zn and 0.15% Pb. The rock sample from the Mina Blanca old working returned 1.71 g/t Au, 1,600 g/t Ag, 4.6% Cu, 1.6% Pb, and 2.8% Zn. Azure announced further exploration plans, including drilling for its Oposura project.
  • Mammoth Resources Corp., announced results of two holes drilled at its Tenoriba project in Chihuahua in the Moreno and Masuparia areas. El Moreno area drill hole intercepted 7.2m of 0.23 g/t Au, 36 g/t Ag and 3.59 % Cu, while the Masuparia area hole returned 27m of 0.51 g/t Au from 28m depth, including 8.4m of 1.30 g/t Au, and 23.5m from 70m depth of 1.30 g/t Au, including 10m of 2.9 g/t Au and 5m of 4.9 g/t Au.
  • Golden Minerals Company, drilled 8 holes in its Mogotes project in Durango, with low grade gold mineralization intercepted on 2 holes. The epithermal system seems to be deeper than the surface geochemical values initially indicated. Additional mapping and sampling is ongoing in the northern portion of the property.
  • Defiance Silver Corp., carried out an IP survey at its San Acacio project in Zacatecas. The IP survey identified a 200m long by 300m wide target along the underexplored 900m Veta Grande vein, and requires an additional IP survey to close off the anomaly on the property. This undrilled target has the potential to host a virgin silver ore shoot at depth.
  • Advance Gold Corp., announced plans to carry out underground mapping & sampling at its Tabasquena mine in Zacatecas, along with an IP survey followed by a drill program. The aim of the IP survey is to delineate the veins and trace their extension along strike.
  • Almaden Minerals Ltd., intersected 10m of 2.1 g/t Au, including 2m of 8.2 g/t Au from a drill hole located approximately 1.2 km southeast of the PFS open pit at its Ixtaca project in Puebla.

ON MINING

  • Mexus Gold US.- restarted the pad leaching at its Santa Elena Mine in Sonora (Caborca), after fixing some recovery problems.
  • Goldgroup Mining Inc., presented its annual gold production for 2017 at Cerro Prieto Mine in Sonora. The company produced 4,670 Oz Au in Q4 for a total 2017 production of 14.7K Oz Au. Goldgroup also announced expansion plans for its mine, including the acquisition of an adjacent property to Cerro Prieto Mine, and expects to produce over 22K to 25K Oz Au in 2018.
  • Bacanora Minerals Ltd., reported positive economics and favourable operating cost of 35K tonnes per year battery grade lithium carbonate operation, confirmed in recently FS on its Sonora Lithium project, in Sonora. The company also secured access and surface rights agreements and the environmental permit for the construction of an open pit mine and large-scale processing plant in site.
  • Santacruz Silver Mining Inc., reported 85% progress of the mill expansion capacity to 750 tonnes per day on its Veta Grande Mine in Zacatecas. The mill expansion is being funded by Carrizal Mining S.A. de C.V.
  • Endeavour Silver Corp., reported 2017 financial results of its Mexican operations (six mines). The company produced 4.9M Oz Ag and 53K Oz Au during the year.
  • Golden Minerals Company, reported 2017 financial results from its Mexican operations.

ON FINANCING

  • Almaden Minerals Inc., announced a proposed private placement to raise $ 5.6M to continue drilling its El Cobre project in Veracruz. In addition, the company also announced a subscription agreement with Newcrest Mining ltd. for aggregate gross proceeds of $ CAD 19M. Newcrest will acquire an indirect interest of 19.9% in El Cobre project.
  • Azure Minerals Limited, secured an oversubscribed A$ 8.2M placement to advance its Sara Alicia and Oposura projects in Sonora, fund ongoing exploration activities and provide general working capital.

ON RESOURCES AND DEVELOPMENT

  • Santacruz Silver Mining Inc. announced an expansion to include 3,000m of underground additional drilling at the Armados vein to better delineate a mine plan at its Veta Grande Mine in Zacatecas. It also reported on the expansion of mill capacity, which is being funded by Carrizal Mining S.A. de C.V.
  • Mexican Gold Corp., revealed results from the resource expansion drilling program carried out at its Las Minas project in Veracruz. Significant results returned 38m of 4.5 g/t Au, 16 g/t Ag, and 3.3% Cu, confirming the continuity of the high-grade mineralization encountered in previous drill holes. This result will increase the tonnage and grade of the maiden mineral resource estimate.
  • Endeavour Silver Corp., announced a PFS at its Terroneras project in Jalisco, advancing the project towards a production decision, having received permits to build the mine and plant, and awaiting waste dump and tailings permits. It also completed a PEA at it’s the El Compas Mine in Zacatecas and has taken the decision to start the mine construction.

ON DEALS AND CORPORATE ISSUES

  • Excellon Resources Inc., announced an agreement with Hecla to toll mill sulphide ore from the San Sebastian Mine in Durango at its Miguel Auza processing plant in Zacatecas. The agreement envisages 400 tonnes per day or 12,000 tonnes per month to be milled at the plant.
  • Golden Minerals Co. extended an option to lease its oxide mill to Hecla for an additional period of up to two years in exchange for a $1 M cash payment and the purchase of $1M in shares. The company also amended the Celaya (in Guanajuato) farm-out agreement with Electrum Global Holdings LP., same that will earn and additional 20% interest in exchange of a $1M payment, with the possibility to increase its interest to 80% by spending an additional $2.5M.
  • Gainey Capital Corp., signed a letter of intent for the purchase and processing of a bulk sample with Grupo Wolinak.
  • Newcrest Mining Ltd., acquired indirect 19.9% interest in El Cobre project, in Veracruz, through the investment of $ CAD 19M.
  • Torex Gold Resources Inc., appointed CFO.
  • Dyna Resources Inc., announced a favorable decision from a US District Court Magistrate Judge on its conflict on San Jose de Gracia Mine in Sinaloa with Goldgroup Mining Inc.

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, chalcopyrite – magnetite mineralization on drill core from the Las Minas project in Veracruz State. Image from the March 3rd 2018, Mexican Gold Corp. press release.