TORONTO, Oct. 18, 2017 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) reports consolidated production for Q3 2017 of 19,051 gold ounces and 749,749 silver ounces, or 29,047 gold equivalent ounces(1), using a 75:1 gold to silver ratio.
|Consolidated Production Summary
|Gold Eq. ounces
VANCOUVER, British Columbia, Oct. 17, 2017 (GLOBE NEWSWIRE) — First Majestic Silver Corp. (NYSE:AG) (TSX:FR) (“First Majestic” or the “Company”) announces total production in the third quarter of 2017 from its six operating silver mines reached 4.0 million equivalent ounces of silver. Total production consisted of 2.4 million ounces of silver, 15,414 ounces of gold, 5.2 million pounds of lead and 0.9 million pounds of zinc.
“Consolidated production in the third quarter returned to higher levels compared to the prior quarter,” said Keith Neumeyer, President & CEO. “At La Encantada, improvements in throughput and silver grades allowed for a 62% increase in silver production. At Santa Elena and San Martin, total production at each operation beat guidance due to continued strong grades and higher recoveries. At La Parrilla, oxide production improved due to higher grade ore being sourced from the San Marcos mine. Lastly, as a safety precaution following two major earthquakes that struck near the La Guitarra mine in September, we temporarily suspended production for a total of eight days to allow for a full inspection of the operation. The inspection revealed no significant risks or damages allowing for the restart of production.”
During the 41st week of the year (October 9th to October 15th, 2017), at least 24 press releases were announced by companies working in Mexico, including seven quarterly reports. ON MEXICO ISSUES: The Secretaría de Economía announced the liberation of over 195 K hectares of ground for staking. ON EXPLORATION: Eight companies disclosed exploration efforts during the week: In Sonora, Azure Minerals is about to start drilling its Oposura and Sara Alicia projects; Canuc Resources released underground and surface rock sampling results from its San Javier project; Colibri Resource released an exploration update of its Evelyn project; Silver Viper is drilling its Clemente project. In Sinaloa Chesapeake Gold commenced a 5,000 m drilling program focused in two prospects on its Yarely project. In Coahuila, Discovery Metals received the environmental permit to drill five of its projects; Silver Bull Resources released the results from the first two underground holes to test high grade structural feeders at its Sierra Mojada project. ON MINING: Endeavour Silver, Capstone Mining, Leagold Mining, Great Panther Silver, Alamos Gold, Gogold Resources and Alamos Gold reported preliminary third quarter results. Torex Gold signed a 25 year land agreement with the Puente Balsas Sur Ejido, needed for the exploration and operation of its Media Luna project in Guerrero. Telson Resources received the environmental permit for mine and related infrastructure on its Tahuehueto project in Durango. ON FINANCING: Colibri Resources settled a $10 K debt by issuing shares to one of its directors. Sierra Metals entered into an open market agreement with a consortium to raise up to $55 M on the NYSE market. Fortuna Silver’s CEO bought approximately US$430 K shares of the company in the open market. Oroco Resources intends to complete a non-brokered private placement to raise up to $600 K. ON RESOURCES AND DEVELOPMENT: Fortuna Silver released exploration results from its San Jose property in Oaxaca, including high-grade drilling results. ON DEALS AND CORPORATE ISSUES: No Relevant news.
ON MEXICO ISSUES
- The Secretaría de Economía (Bureau of Economy) released the long due and eagerly awaited second release of previously held land of 2017, ground that is now going to be open for mining concession applications. Over 44 K hectares of reduced land (from eleven concessions), 131 K hectares of abandoned concessions (95) and almost 20 K hectares of cancelled concessions (96) are to be available in one month for staking by individuals and corporations.
- Azure Minerals Ltd. is about to start drilling at its Oposura and Sara Alicia projects in Sonora. The environmental permit has been granted for both projects. At Oposura a total of 7,000 m of drilling is planned in 120 holes on a 1,400 by 400 m area. At Sara Alicia geological mapping, rock chip channel sampling, gridded soil sampling, and initial target identification has been completed. A zone of high grade gold and cobalt with samples of up to 39 g/t Au and up to 6% Co has been identified and is to be drill tested with 5-6 holes for a total of 450-500 m of diamond core.
- Canuc Resources Corp. reported high grade silver and gold from recent sampling of underground workings, and from the surface of the Carranza breccia zone at its San Javier project in Sonora. “Road construction, trenching and drill platform preparation have been completed and surface mapping and sampling are ongoing.” The focus is on the breccia zones found at the intersections of the two fault trends. Results include 0.5 m @ 10.3 g/t Au, 250 g/t Ag; 0.5 m @ 8.0 g/t Au, 246 g/t Ag; 1.23 m @ 6.0 g/t Au, 174 g/t Ag; 1.2 m @ 10.5 g/t Au, 220 g/t Ag; 1.6 m @ 9.5 g/t Au, 150 g/t Ag; 1.6 m @ 11.3 g/t Au, 100 g/t Ag; 0.9 m @ 5.1 g/t Au, 17,200 g/t Ag; 1.3 m @ 1.9 g/t Au, 6,230 g/t Ag; 1.4 m @ 2.0 g/t Au, 2,395 g/t Ag; 0.7 m @ 1.6 g/t Au, 150 g/t Ag; 2.5 m @ 1.1 g/t Au, 600 g/t Ag; 3.0 m @ 1.2 g/t Au, 470 g/t Ag.
- Chesapeake Gold Corp. commenced a 5,000 m diamond drill program at its 68,000 has Yareli project in Sinaloa. The phase I program is to focus on the Central and Loretos prospects. “At Central prospect Initial drill holes will test the four subparallel north – northwest trending stockwork structures up to one kilometre in length and associated extensive breccia bodies..” At Loretos three widely spaced holes are planned to test the west side of a “V” shaped IP anomaly which is over 3 km long and one km wide.
- Colibri Resource Corp. released a report on its 506 hectare Evelyn project in Sonora. Geological and structural mapping, as well as rock chip sampling were conducted. The property is underlain by Jurassic rhyolites, andesites and sandstones. Prospects highlighted include the Mine Working shear zone, the Cerro Rojo Fault and the Quartz Vein Swarm. Of 74 samples collected, 33 returned values greater than 0.1 g/t Au.
- Discovery Metals Corp. received drill permits for five of its projects from the Mexican environmental regulator, SEMARNAT. These permits cover the La Kika, Renata, Santa Rosa, La Minerva, and Jemi-Rare projects in northern Coahuila.
- Silver Bull Resources Inc. provided the results from two drill holes of its underground drill program targeting high-grade structures at its Sierra Mojada project in Coahuila. The first hole intersected 7 m @ 121 g/t Ag, 0.52% Cu, including 2 m @ 376 g/t Ag, 3.0% Cu. The second hole intersected 25.5 m @ 294 g/t Ag, 0.96% Cu, including 11.5 m @ 486 g/t Ag, 1.13% Cu and 4 m @ 966 g/t Ag, 2.0% Cu, with the hole entering and ending in an unmapped working. The results confirm the East-West continuity of the first of three structures to be drilled.
- Silver Viper Minerals Corp. is performing a 2,000 m drilling program at its Clemente project in Sonora. The diamond drilling is designed to target the down dip projection of the steep dipping quartz shear vein and adjacent quartz veining observed in accessible historical mine workings.
- Endeavour Silver Corp. reported production results for the third quarter 2017. At Guanaceví in Durango, 74.6 K tonnes were produced at a rate of 811 tonnes per day (tpd) @ 250 g/t Ag, 0.57 g/t Au and recoveries of 87.2% Ag, 89.5% Au, to produce. 522.9 K Oz Ag, 1,224 Oz Au. At Bolañitos, in Guanajuato, 114.5 K tonnes were produced at a rate of 1,245 tpd @ 85 g/t Ag, 2.15 g/t Au and recoveries of 81.1% Ag, 82.4% Au, to produce 253.8 K Oz Ag, 6,523 Oz Au. At El Cubo in Guanajuato, 133.6 K tonnes were produced at a rate of 1,452 tpd @ 135 g/t Ag, 1.35 g/t Au and recoveries of 83.7% Ag, 83.3% Au, to produce 485.4 K Oz Ag, 5,901 Oz Au. In July the production decision was made on El Compas project in Zacatecas. In August were received the permits for the mine and plant at Terroneras, Jalisco. Pending are the permits for the waste dumps and tailings areas.
- Torex Gold Resources Inc. signed a long term, common land lease agreement with the Puente Sur Balsas Ejido for the use of the land required for the exploration, construction and mining of minerals at its Media Luna project in Guerrero. The 25 year agreement can be revoked at the company’s discretion, with one year’s notice.
- Telson Resources Inc. received the environmental permit (MIA) authorizing the construction of a mineral processing facility, related mining facilities, plus infrastructure and necessary underground development at its Tahuehueto project in Durango.
- Capstone Mining Corp. announced production results for the quarter terminating at the end of September 2017. At Cozamin higher throughput than planned saw 223.8 K tonnes mined from underground and 223.4 K tonnes processed at a rate of 2,429 tpd, averaging 1.98% Cu, 0.8% Zn, 0.08% Pb, 42 g/t Ag; recoveries stood at 96.1% Cu, 65.7% Zn, 7.0% Pb, 79.7% Ag, to produce 15,688 tonnes of Cu concentrate, 2,463 tonnes of Zn concentrate and 20 tonnes of lead concentrate.
- Leagold Mining Corp. disclosed Q3 2017 gold production at the Los Filos mine in Guerrero. During the period the Los Filos mine produced 47,766 Oz Au.
- Great Panther Silver Ltd. released production results for the third quarter 2017. At the Guanajuato Mine Complex in Guanajuato, 76.1 K tonnes were milled @ 155 g/t Ag, 2.54 g/t Au; with recoveries of 89.8% Ag, 88.1% Au, to produce 341.6 K Oz Ag, 5,471 Oz Au. At Topia in Durango, 18 K tonnes were milled @ 362 g/t Ag, 0.97 g/t Au; with recoveries of 91.1% Ag, 67.1% Au, to produce 191.2 K Oz Ag, 377 Oz Au.
- Alamos Gold Inc. reported production for the third quarter 2017, including figures from its Mexican operations. At Mulatos (including La Yaqui) 36,300 Oz Au were produced, and 14,900 Oz Au at El Chanate, both in Sonora.
- GoGold Resources Inc. announced production for the quarter terminated at the end of September 2017. At its Parral tailings operation 353.4 K Oz Ag were produced. An improvement on the recoveries by changing agglomeration and heap parameters can be seen in the graphic below.
- Hecla Mining Co. reported preliminary production results for the third quarter 2017, including figures from its Mexican operations. At San Sebastian in Durango, the mill operated at 397 tpd to produce 880.9 K Oz Ag, 8,199 Oz Au.
- Colibri Resources Corp. has issued shares in the amount of $10,000 to settle an outstanding indebtedness due to Ed Stringer, a director of the company (Evelyn, Sonora).
- Sierra Metals Inc. entered into an open market Sale Agreement with Jefferies LLC, C. Wainwright & Co, LLC Scotia Capital (USA) Inc. and Noble Capital Markets Inc., on which the company may during the term of the agreement sell common shares in the NYSE up to the amount US$55 M in gross proceeds. No common shares will be offered or sold in Canada (Cusi and Bolivar mines, both in Chihuahua).
- Fortuna Silver Mines Inc. announced that Jorge A. Ganoza, CEO of the company increased his equity position in Fortuna by acquiring 131,800 common shares on the open market, valued at close to US$430 K. (San Jose, Oaxaca).
- Oroco Resource Corp. intends to complete a non-brokered private placement to raise up to $600 K of gross proceeds (Xochilapa, Guerrero).
ON RESOURCES AND DEVELOPMENT
- Fortuna Silver Mines Inc. updated exploration efforts at its San José mine in Oaxaca, where four rigs are testing the Trinidad-Bonanza-Stockwork complex, the Trinidad North Extension and the sub-parallel Victoria vein (formerly Ocotlan vein). Relevant estimated true width intercepts (TW) comprise 4.1 m @ 247 g/t Ag, 1.8 g/t Au; 21.0 m @ 153 g/t Ag, 0.9 g/t Au; 3.6 m @ 281 g/t Ag, 1.2 g/t Au; 4.5 m @ 356 g/t Ag, 3.5 g/t Au; 3.7 m @ 1,106 g/t Ag, 6.3 g/t Au in the Victoria vein, and 6.7 m @ 218 g/t Ag, 1.3 g/t Au; 2.2 m @ 195 g/t Ag, 1.1 g/t Au; 2.2 m @ 195 g/t Ag, 1.1 g/t Au at the Trinidad/Bonanza veins and Stockwork.
ON DEALS AND CORPORATE ISSUES
Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.
On the picture below, secondary copper minerals around a quartz veinlet with oxidized sulfides, which is cutting an intrusive rock on a prospect of the Durango Altiplano. Photo by Jorge Cirett.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 16, 2017) – Fortuna Silver Mines, Inc. (NYSE:FSM)(TSX:FVI) is pleased to announce third quarter 2017 production results from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The Company produced 2.0 million ounces of silver and 13,412 ounces of gold, plus base metal by-products. Silver and gold production for the first nine months totaled 6.2 million ounces and 41,158 ounces respectively; being 2 percent and 5 percent above the Company’s nine month projection. Fortuna is on schedule to produce 8.1 million ounces of silver and 52.4 thousand ounces of gold or 11.2 million Ag Eq1ounces in 2017 (see Fortuna news release dated January 11, 2017).
Third Quarter Production Highlights
- Silver production of 2,009,362 ounces; 4 % decrease over Q3 2016
- Gold production of 13,412 ounces; 5 % decrease over Q3 2016
- Lead production of 7,650,040 pounds; 3 % increase over Q3 2016
- Zinc production of 11,241,371 pounds; 6 % increase over Q3 2016
- Cash cost2 for San Jose is US$62.2/t
- Cash cost2 for Caylloma is US$76.0/t
COLORADO SPRINGS – October 16, 2017 – Gold Resource Corporation (NYSE American: GORO) (the “Company”) reports preliminary production results for the third quarter ended September 30, 2017 of approximately 6,465 ounces of gold, 392,153 ounces of silver and significant base metals. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $110 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and
silver and take delivery.
Preliminary third quarter production totaled approximately 6,465 ounces of gold, 392,153 ounces of silver, 291 tonnes of copper, 1,449 tonnes of lead and 4,628 tonnes of zinc. Through the first three quarters of 2017, the Company’s preliminary production numbers total approximately 18,908 ounces of gold, 1,217,713 ounces of silver, 804 tonnes of copper, 3,583 tonnes of lead and 11,447 tonnes of zinc.
PREMIER GOLD MINES LIMITED (“Premier” or “The Company”) (TSX:PG) is pleased to announce preliminary third quarter production results from its two operating mines.
Q3 – 2017 Production Highlights include:
- Gold production of 26,677 ounces
- Silver production of 82,856 ounces
- Gold Sales of 37,920 ounces at an average realized price of US$1,282 per ounce
Table 1 – Preliminary Sales and Production Results
||GOLD PRODUCED (ounces)
||SILVER PRODUCED (ounces)
|South Arturo, Nevada (PG)
|Gold Ounces Sold
“Solid operating performance at Mercedes and South Arturo during the third quarter should allow us to meet the upper end of our 2017 annual production guidance,” stated John Begeman, Executive Chairman of Premier. “Despite having already surpassed original production expectations, recent definition drilling at South Arturo indicates the potential to continue mining the Phase 2 open pit, and studies supporting further development, including the underground extension of the Phase 2 Pit (El Nino) and two additional open pits are ongoing.”
COEUR D’ALENE, Idaho–(BUSINESS WIRE)– Hecla Mining Company (NYSE:HL) today announced preliminary silver and gold production results1 for the third quarter of 2017.
THIRD QUARTER 2017 HIGHLIGHTS (Preliminary Results)
- Silver production of 3.3 million ounces and gold production of 63,046 ounces, the second highest level since 2003.
- Silver equivalent production of 11.1 million ounces, the highest equivalent production quarter this year.2
- Lead production of 5,368 tons; zinc production of 14,498 tons.
- Record gold production and monthly throughput (September) at Casa Berardi since its acquisition.
- Cash, cash equivalents and short-term investments of approximately $205 million at September 30, 2017, an increase of about $3 million over the second quarter of 2017.
“Operational performance was exceptional in the third quarter with record throughputs at Greens Creek and in September at Casa Berardi. San Sebastian continues to operate at the upper end of our expectations with the highest quarterly silver production of the year so far. The mines’ performance has led to substantial increases in production of all four metals over the second quarter and puts us well on our way to achieving their production guidance and improving per-ounce cost performance,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “With operating performance and substantially higher zinc and lead prices, our cash position is $7 million greater than at the end of the year.”
Halifax, NS – GoGold Resources Inc. (TSX: GGD) (“GoGold”, “the Company”) announces production for the quarter ended September 30, 2017 of 353,370 silver equivalent ounces at the Parral project, a 125% increase over the same quarter the previous year and a 12% increase over the prior quarter. The quarter ended September 30th is traditionally the rainy season in Mexico which can negatively impact production. With the changes that have been made to the operating procedures the production was not negatively impacted and increased 125% over the previous year rainy season quarter. Production at Parral continues to improve with the quarter ended September 30, 2017 being the fourth consecutive quarter of production growth.
Over the past year the Company has focused on improving recovery times and has made several changes. These changes include:
- reducing the stacking height from a single 10 meter high lift to multiple 4-5 meter high lifts;
- increasing the amount of cement being added to the agglomerated material to strengthen it and improve stability and penetration of the cyanide enriched solution;
- increasing the cyanide strength for the first 60 days of irrigation;
- increasing the capacity of the Merrill Crowe; and
- increasing the curing period of agglomeration from a few days to two weeks prior to irrigation.
“The changes made at Parral in late 2016 and the first half of 2017 have now taken effect and we expect to see continued increases in production through fiscal 2018” said Brad Langille, CEO.
TORONTO, ONTARIO–(Marketwired – Oct. 12, 2017) – Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) (“Alamos” or the “Company”) today reported record third quarter 2017 gold production of 107,000 ounces. Quarterly revenues totaled $129 million from the sale of 100,551 ounces of gold at an average realized price of $1,281 per ounce.
“Operationally we delivered a strong third quarter with record production and significant milestones achieved at both our key operations. This included the completion of the MCM waste pass at Young- Davidson, contributing to higher underground mining rates in September, and initial production from our La Yaqui mine in the Mulatos district. We expect both will be key drivers of strong free cash flow growth in the fourth quarter and we remain well positioned to achieve full year guidance,” said John A. McCluskey, President and Chief Executive Officer.
Third Quarter 2017 Operating Highlights
- Record quarterly production of 107,000 ounces of gold including record production of 55,800 ounces from Young- Davidson, 36,300 ounces from Mulatos and 14,900 ounces from El Chanate
- Sold 100,551 ounces of gold at an average realized price of $1,281 per ounce, $3 above the London PM fix, for revenues of $129 million
- Completed development of the MCM waste pass in August following which underground mining rates increased to average 6,900 tonnes per day at Young-Davidson in September
- Declared initial production at La Yaqui Phase I in early September, ahead of schedule and on budget
- Production of 309,100 ounces of gold through the first three quarters of 2017, putting the Company on track to achieve full year guidance
- The Company remains debt free with cash and cash equivalents and equity securities increasing to approximately $165 million as at September 30, 2017
Toronto, Ontario – (October 12, 2017) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) plans to release its third quarter 2017 operating results, financial statements and the related management’s discussion and analysis after market close on November 2, 2017. The Company will host a conference call and webcast to discuss its third quarter operating and financial results at 8:30 am EDT on November 3, 2017.