Bacanora, the London and Canadian listed (AIM: BCN, TSXV: BCN) lithium exploration and development company, is pleased to announce that the Environmental Impact Statement, the Manifestacion de Impacto Ambiental (‘MIA’), for its flagship Sonora Project (‘Sonora’ or the ‘Project’) in Mexico has been approved by SEMARNAT, the Environment Ministry of Mexico. The Company is also pleased to provide an update on its ongoing Feasibility Study (‘FS’) for a 35,000 tonnes perannum lithium carbonate operation atSonora, which on course forcompletion in late 2017.
· MIA approval received for a 35,000tpa lithium carbonate operation at Sonora, following completion of comprehensive environmental and social baseline studies carried out over the site during a two year period
· Approval represents a major milestone for Bacanora and is in line with its strategy to construct an open-pit mine and a large scale beneficiation processing facility at Sonora
· FS expected to confirm Sonora occupies a favourable position in the industry cost curve due to:
o Planned open pit mining operations
o Development of a conventional beneficiation process followed by a standard SO4
roasting process that has been de-risked by the Project’s pilot plant which has continuously produced batery grade lithium since May 2016
o Free digging lithium deposit which removes the need for the lithium ore to be drilled, blasted, crushed and ground prior to processing as is the case with hard rock
o Ability to re-cycle Na2SO4 into the roaster negates the requirement to purchase expensive sulphuric acid as a sulphate SO4 source
· Sonora has an Indicated Mineral Resource (established in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects(“NI-43-101”) of 4.5 million tonnes LCE and 2.7 million tonnes Inferred and Probable Mineral Reserves (based upon the 2016 PFS) of 2.1million tonnes LCE.
Two rigs currently drilling on 120 hole, 7,000m resource drill-out of Oposura
• Additional exploration drilling will test for extensions and repetitions
• Mineral resource estimate aimed for early 2018
• Six rigs now operating across three projects, delivering continual news flow
over coming months Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to advise that two diamond core rigs are drilling on its 100%-owned Oposura zinc-lead-silver project, located in the northern Mexican state of Sonora.
Azure’s first drilling program at its flagship project is designed to enable the Company to complete a Mineral Resource estimate by the end of March 2018.
Commenting on the drilling, Azure Managing Director, Mr Tony Rovira, said, “This is a very exciting time for Azure. With drilling underway at Oposura, the Company now has six rigs turning on three different projects, delivering a continual news flow over the next few months.
“Programs range from first-pass drilling on the exciting Sara Alicia gold-cobalt prospect to the resource drill-out program at Oposura, as well as deep exploration drilling being undertaken at Alacrán by our partner Teck Resources.”
VVC Exploration Corp (TSXV:VVC) is a resource company currently working to bring its flagship Samalayuca copper property in Chihuahua, Mexico to production. The NI 43-101 for the property was completed by Dr. Michel Boliy in 2013 represents an Inferred Mineral resource of 4.1 million tons of copper ore grading 0.47% copper and 5.8 g/t silver. This resource estimate was based on fresh rock samples from existing pits and from core drilling done by Phelps Dodge on the property and covers less than 10% of the mineralized zone.
The Samalayuca copper project, is a 4,055-acre property situated in the northern part of Mexico’s Chihuahua state and 60 kilometers southwest of El Paso, Texas. A producing property up to its closure in 1970, the project is copper-bearing, sits in a region nearly devoid of vegetation and VVC is now looking to bring it back up to production as soon as 2018. The project is also supported by infrastructure including an access road, an available mining workforce.
Southern Silver Exploration Corp. (TSX.V: SSV) (“Southern Silver”) reported today that Phase II drilling on the Stockpond gold target has commenced on its 100% owned Oro project. The program will consist of 8-10 reverse-circulation (RC) drill holes totaling approximately 1,200m, which will test lateral offsets of gold mineralization identified in 2016 drilling. In addition, results of a +300-line kilometer airborne Z-TEM survey over the entire Oro property have been received and evaluated, resulting in additional claims being staked to cover new targets that now have been sampled for further evaluation.
Cerro Las Minitas Update
The 2017 drilling on the Cerro Las Minitas project, Durango Mexico totaled approximately 13,600m in 18 drill holes and successfully identified and extended the new Skarn Front zone of mineralization beneath the Blind and El Sol deposits. Data compilation and modelling continues on the new mineralized zone that will be incorporated into an updated Mineral Resource Estimate due in the coming weeks. Surface work continues on the newly acquired Biznagas, Los Lenchos and Creston Del Oro claims, which are targeting precious-metal-enriched, volcanic-hosted, epithermal vein systems similar and on trend to the Avino Ag-Au mine and the adjacent San Sebastian Mine.
Vancouver, BC — October 18, 2017, Corex Gold Corp. (TSXV: CGE) (“Corex” or the “Company”), is pleased to report that it has shipped the first gold-in-carbon concentrate from its 100%-owned Santana heap-leach gold project in Sonora, Mexico.
During 2017, Corex has been conducting continuous bulk testing heap-leach activities at its 100%-owned Santana property. The leaching to date has been conducted on coarser crushed material that in the next anticipated program will see equivalent leach tests performed on finer crushed material to determine the relationship of crush size and recovery for the project as its development is advanced. A crusher to generate finer sized mineralized material for leaching is now at the project site and Corex anticipates commencing this next step of crushing heap-leach test work next month to determine that optimum crushing size.
October 18, 2017 – Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI), is pleased to provide an update on Riverside-owned projects and upcoming growth plans during the final months of 2017. Riverside enters the fall season with C$4,000,000 in cash and less than 45,000,000 shares outstanding. The Company continues to advance its project portfolio through a combination of self-funded and partner-funded exploration programs, with a catalyst-rich six months ahead. Riverside will be providing a subsequent update on partner-funded exploration results and go-forward plans, including drilling in the near future. The summary below outlines some of the key developments and status updates for the projects Riverside geologists have been working on during the last quarter.
Toronto, Ontario–(Newsfile Corp. – October 17, 2017) – Monarca Minerals Inc. (TSXV: MMN) (“Monarca” or the “Company”) is currently re-analyzing geological information and the re-logging historical drill results. Drilling completed in 2005 and 2008 only reached relatively shallow depths of approximately 150 meters. To date Monarca has identified 3 extremely high grade intercepts at both Los Mantos and Cerro Prieto portions of Tejamen.
Drill hole MMT-141, Los Mantos, reported an 80-meter zone containing 417 grams of silver including 4,028 grams per silver from 82 to 88 meters from surface. This is one of three high grade veins identified in Los Mantos. Cerro Prieto is a thick zone of parallel veins and disseminated silver mineralization at approximately 80 meters. Cerro Prieto drilling reached a maximum depth of 150 meters. It is worthwhile to note that the core was not assayed for any other metals.
Analysing the geology in the context of historical district mines suggest that the high grade feeder veins strike to the southwest for approximately 1 kilometer as depicted below. Field verification of the vein extensions is expected to be completed when surface access and permits have been secured. Combined with depth extension of the high-grade feeder veins, Monarca is excited about the exploration potential at the Tejamen Project.
TORONTO, Ontario, October 17, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce the initiation of its in-fill drilling program at its Media Luna development project in Southwest Mexico. The purpose of this program is to upgrade, to the Indicated confidence level, 25% of the current inferred Media Luna resource of 7.4 million Au Eq. ounces (51.5Mt @ 4.48g/t Au Eq.). The program plan contains 175 holes, averaging 600 meters in depth, for a total of 105,000 meters of drilling. The budgeted cost for the program is US$15M, and the 175 holes are scheduled for completion by the end of 2018. Subsequent to the completion of the program, a Measured and Indicated resource estimate will be prepared, and this will form the basis for a Media Luna feasibility study, which is scheduled for completion in the second half of 2019.
Fred Stanford, President & CEO of Torex stated: “The start of this in-fill drilling program is a big step in advancing the development of the Media Luna deposit. That development process will be aided by the increased geological understanding and confidence that comes from the drilling program. It will also be potentially enhanced by the optimization of the Media Luna production and service processes, that have been developed by internal teams, while we waited for the financial flexibility to proceed with in-fill drilling. An updated preliminary economic assessment (“PEA”), scheduled for late in Q1, 2018, is expected to illustrate the commercial advantages of the proposed optimized processes. Internal and external study teams are also focusing on design elements that are expected to expedite the permitting process. Pending success of future technical studies, the potential timeline contemplates beginning construction of the Media Luna mine in early 2020, is expected to be financed from internal cash flow, and gold production is expected to begin in early 2022.”
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.
Mexican Gold Corp. (“Mexican Gold” or the “Company”) (TSX-V: MEX / OTCMKTS: SRXLF / FRA: 4QW1 is pleased to announce that resource expansion drilling has intersected long intervals of strong chalcopyrite, bornite and magnetite mineralization totaling 77.2 metres at the El Dorado / Juan Bran zone at its Las Minas property.
Hole LM-17-ED-40 intersected a 21 metre interval of chalcopyrite, bornite and magnetite mineralization at a depth of 83.0 metres and continuing to 104 metres. A second interval of 56.2 metres starting at 123.6 metres and continuing to 179.8 metres contains stronger mineralization (see Figure 1: LM-17-ED-40 Example of Chalcopyrite Mineralization). The upper 21 metre mineralized interval is outside the outline of the mineral resource estimate, and the lower intersection extended the mineralization a further 23 metres below the resource lower constraint. The true widths of the mineralized intervals are approximately 94% of the reported intersections.