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

 

By Miguel A Heredia

During the 19th week of the year (May 7th to May 13th, 2018), at least 40 press releases were announced by companies working in Mexico, with eight informing on exploration results, nine reporting Q1 2018 results, four announcing financing, sixteen communicating deals and corporate issues, and  seven reporting on resources & development. ON MEXICO ISSUES, Fernando Alanis Ortega was appointed President of CAMIMEX for the period 2018-2010. Investment in the mining sector reached $4,287 M USD in 2017, representing an increase of 14.3%. ON EXPLORATION, In Sonora, Colibri Resource reported drilling results at its El Pilar project, and Azure provided an update on its El Alacran project. In Chihuahua, Sable commenced a 4,000m diamond drill program on its Margarita project; Prospero and Fortuna revised its 2018 work program for Bermudez and Trias projects in Chihuahua, and Buenavista project in Durango.  In Zacatecas-Durango, Canasil announced plans to resume drilling at its La Esperanza project. In Guerrero, Alio announced that a regional exploration work is underway on its Ana Paula project. In Oaxaca, Megastar signed an option agreement to acquire a mining project. ON MINING, Alio Gold, Pan American Silver, Americas Silver, Excellon, GoGold, Hecla, Premier Gold, and Torex reported Q1 2018 results from their Mexican operations. Gainey completed upgrade of its Huajicori mill in Nayarit. ON FINANCING, Almaden announced a non-brokered private placement for $7M.  Minaurum raised $4.7M in its first tranche of a total $6M non-brokered private placement. Prize Mining announced a non-brokered private placement for $2M. Silver Spruce closed a non-brokered private placement for $287.7K. ON RESOURCES AND DEVELOPMENT, Alio initiated the construction of a 1,200m underground decline at its Ana Paula project in Guerrero. Hecla provided an exploration update on its San Sebastian Mine.  Leagold reported underground drilling results for its Los Filos mine in Guerrero. Premier Gold filed a technical report for its Mercedes mine in Sonora.  Sierra Metals reported mine development at its Cusi and Bolivar mines in Chihuahua during Q1 2018 period. US Antimony reported progress on the construction of the leach plant for the Los Juarez Au-Ag-Sb deposit in Queretaro. ON DEALS AND CORPORATE ISSUES, Alamos Gold, Endeavour, Excellon, and Fortuna reported results of its 2018 annual general meetings. Alamos also announced changes to its Board of Directors. Almadex approved spinout transaction. Great Panther announced the departure of its COO. Canuc announced the appointments of its CFO and Corporate Secretary. New Gold announced the appointment of its President and CEO. Candente reached an agreement with 3rd Eye Research to retain IR services. First Majestic completed the acquisition of Primero Mining. Goldplay received approval on the San Marcial option agreement in Sinaloa with SSR Mining. One World Lithium announced the granting of stock options. Primero announced receipt of Mexican antitrust clearance for arrangement with First Majestic. MX Gold signed a definitive agreement to sell interest at its Magistral project in Durango.

ON MEXICO ISSUES

  • Fernando Alanis Ortega, was appointed President of the Mexican National Chamber of Mines (CAMIMEX) for the period 2018-2010, replacing the outgoing Daniel Chavez Carreon.
  • CAMIMEX, reported that the investment in the mining sector reached $4,287 M USD in 2017. Although this represents an increase of 14.3% over the previous year, it is still 48.5% lesser that the invested record in 2012 which reached $8,043M USD.

ON EXPLORATION

  • Colibri Resource Corporation, reported drilling results from its El Pilar project in Sonora. Highlights are 9m of 8.16 g/t Au, including 1.5m of 33.4 g/t Au. The company has completed 2,117m in 20 RC holes “aimed to test for continuity within previously interpreted zones of mineralization, test for extensions to the known mineralization, and explore locally for new zones of gold mineralization”.
  • Azure Minerals Limited, provided an update on results from its El Alacrán project in Sonora, currently operated by Minera Teck S.A. de C.V. Teck drilled 14 holes to test extensions of Au mineralized zones at Loma Bonita area. Results suggest potential expansion of the Loma Bonita epithermal Au-Ag mineralized system at depth south towards Cerro San Simon, where four holes were drilled to test resistivity anomalies. Teck also drilled four holes at Cerro Colorado Zone to test mapped targets and geophysical anomalies generated by IP surveys and airborne magnetics, confirming potential for porphyry copper mineralization. Geological, geochemical and geophysical surveys are being carried out in H1, 2018 and will be followed by further drilling in H2, 2018.
  • Sable Resources Ltd., commenced a 4,000m diamond drill program to test 1.7km of Ag-bearing epithermal quartz veins at its margarita project in Chihuahua. The aim is to test for high-grade precious metal horizon 200m below mineralized surface samples.
  • Prospero Silver Corp., and Fortuna Silver Mines Inc., revised its 2018 exploration program, deciding to conduct a 6,000m drill program to test targets at its Buenavista, project in Durango, as well as at its Bermudez and Trias projects in Chihuahua.
  • Canasil Resources Inc., announced plans to resume drilling at its La Esperanza project in Zacatecas-Durango. The drill program was designed to test the northwestern and southeastern extension of the La Esperanza vein 50m below of the high grade found in hole ES-17-16.
  • Alio Gold Inc., announced that a regional exploration work is underway on its Ana Paula project in Guerrero which includes an airborne magnetic survey targeting further breccia or skarn targets.
  • Megastar Development Corporation, signed an option agreement with Paradex Inc., and Minera ZalameraA. de C.V., to acquire 100% of the Rama de Oro project in Oaxaca. “The Project is hosted by caldera-related Tertiary volcanic rocks (e.g. El Aguila model) crosscut by hydrothermal veining inferred to be related to late-stage granitic magmatism locally exposed as dikes and underlying the adjacent ‘Nueve Puntos’ mountain”. Exploration work on the property has identified a 4 square-Km zone of quartz veining, silicification, and clay alteration of volcanic rocks. Sampling on this altered zones have returned anomalous values of Au, Ag, As, Hg, and Sb, suggesting the upper part of a precious metal epithermal system.
  • Prize Mining Corporation, reported sampling results at its Manto Negro Copper project in Coahuila. Significant results include 6m of 2.73% Cu and 58 g/t Ag, 5.2m of 1.78% Cu and 40 g/t Ag, and 7m of 1.65% Cu and 36 g/t Ag.

ON MINING

  • Alio Gold Inc., announced Q1 results from its san Francisco mine in Sonora, Alio produced 17.6K Oz Au and ~9K Oz Ag at an AISC of $1,262 per Oz Au.
  • Pan American Silver Corp., reported results from its Dolores and La Colorada mines in Chihuahua and Zacatecas states respectively. Au and Ag production during the period of Q1, 2018 was 34.4K Oz Au and 1.2M Oz Ag at Dolores mine and 1K Oz Au and 1.65M Oz Ag at La Colorada mine.
  • Americas Silver Corporation, reported Q1 2018 results from its Cosala operations in Sinaloa. Americas processed 163.8K tonnes to produce 397K Oz Ag, 7.6 M Lb Pb, and 7.3M Lb Zn.
  • Excellon Resources Inc., reported Q1 2018 results from its La Platosa mine in Durango. The company processed 18.9K tonnes (including 5.9K tonnes of historical stockpile) at average grades of 359 g/t Ag, 3.8% Pb, and 6.4% Zn to produce 194.5K Oz Ag, 1.3M Lb Pb, and 1.8M Lb Zn.
  • Gainey Capital Corp., completed upgrade of its Huajicori mill in Nayarit to process 300 tonnes per day.
  • GoGold Resources Inc., announced Q1 2018 results from its Parral Tailings project in Chihuahua. The company stacked 439.3K tonnes on the leach pad to produce 265.6K Oz Ag and 1908 Oz Au.
  • Hecla Mining Company, reported Q1 2018 results from its San Sebastian mine in Durango. The mine produced 512K Oz Ag and 4,500 Oz Au.
  • Premier Gold Mines Limited, announced Q1 2018 results from its Mercedes mine in Sonora. The company milled 168.3K tonnes of 2.91 g/t Au and 31.8 g/t Ag to produce 15K Oz Au and 57.4K Oz Ag.
  • Torex Gold Resources Inc., reported Q1 2018 results from its El Limón-Guajes Mine Complex in Guerrero. Torex processed 785K tonnes of 3.29 g/t Au to produce 67.2K Oz Au at an AISC of $954 per ounce.

ON FINANCING

  • Almaden Minerals Ltd., announced a non-brokered private placement for $7M. Net proceeds will be used for exploration and development of its Ixtaca project in Puebla.
  • Minaurum Gold Inc., raised $4.7M in its first tranche of a total $6M non-brokered private placement. Net proceeds will be used for its ongoing exploration program at the Alamos Silver project in Sonora.
  • Prize Mining Corporation, announced a non-brokered private placement for $2M. Net proceeds will be used to conduct a geological, diamond drill and engineering assessment on its Manto Negro Copper project in Coahuila The aim is to produce a 43-101 compliant mineral resource.
  • Silver Spruce Resources Inc., closed a non-brokered private placement for $287.7K. Net proceeds will be used at Its Pino de Plata project in Chihuahua, aimed to drill target sites on the property.

ON RESOURCES AND DEVELOPMENT

  • Alio Gold Inc., initiated the construction of a 1,200m underground decline at its Ana Paula project, which is expected to be completed in Q3 2018. It will enable commencement of the first phase of the proposed underground diamond drill program, which will consist of 12,000 m in 55 holes. The company completed a six-hole 3,800m drill program below the proposed open pit to better define the geometry of the complex high-grade breccia and know the mineralization extent. Alio is also currently carrying out a drilling program on a high priority surface target 150m north of the proposed open pit, on which a detailed geological mapping at a scale 1:2,000 will be conducted.
  • Hecla Mining Company, provided and exploration update on its San Sebastian mine in Durango. An Infill drill program is been conducted to expand high-grade polymetallic zones similar to the Hugh Zone on the Middle and Francine veins, as well as oxide mineralization along the Professor and Francine veins. Significant results are 1.34m of 135 g/t Ag, 23.5% Pb, 18.5% Zn, and 7.9% Cu on the polymetallic zone, and 1.58m of 1,200 g/t Ag and 4.98 g/t Au on the oxide mineralization. At West Middle vein, the most significant intercepts are 1.34m of 317 g/t Ag, 10.1% Pb, 18% Zn, and 3% Cu, and 0.85m of 304 g/t Ag, 8.5% Pb, 9.4% Zn, and 3.8% Cu.
  • Mexican Gold Corp., reported step-out drilling results from the El Dorado / Juan Bran and Santa Cruz zones within its Las Minas projects in Veracruz. Significant interceptions are 8m of 1.06 g/t Au and 6 g/t Ag, including 6m of 1.36 g/t Au and 8 g/t Ag; 6m of 2.52 g/t Au and 10 g/t Ag; 14m of 1.96 g/t Au and 0.3 g/t Ag, including 6m of 3.49 g/t Au and 0.5 g/t Ag; and 24m of 1.24 g/t Au and 3 g/t Ag, including 10m of 2.12 g/t Au and 4 g/t Ag. The drill results tested the continuity of mineralization at El Dorado / Juan Bran zone and extended the mineralized zone to depth as well as cutting multiple mineralized intervals in the upward extension of the Santa Cruz zone.
  • Leagold Mining Corporation, reported underground drilling results for its Los Filos mine in Guerrero. Highlights are 4.1m of 24.2 g/t Au, 6.95m of 23.6 g/t Au, and 9.1m of 8.7 g/t Au from the Nukay, Conchita and Creston Rojo deposits respectively. The aim of the drilling program which comprises over 12,000m to date from 62,000m planned for 2018 is to identify additional resources along the contact of the circular intrusive orebodies.
  • Premier Gold Mines Limited, filed a technical report to release  updated mineral reserves for its Mercedes Mine in Sonora, with 3.3M tonnes of 3.94 g/t Au containing 417K Oz Au, and measured and indicated mineral resources for 3.68M tonnes of 4.32 g/t Au containing 511K Oz Au.
  • Sierra Metals Inc., reported mine development at its Cusi and Bolivar mines in Chihuahua during Q1, 2018. At Cusi, mine development totaled 676m. The company also carried out 1,448m of underground infill drilling, and 7,398m from surface. At Bolivar, mine development totaled 1,177m, with 650m to prepare stops for mine production, 466m to deepening ramps and developing service ramps for ventilation and pumping, and 61m of raises.
  • US Antimony Corporation, reported progress on the construction of the leach plant for the Los Juarez Au-Ag-Sb deposit in Queretaro. Testing and shake-down of the plant is anticipated in Q4 2018.

ON DEALS AND CORPORATE ISSUES

  • Almadex Minerals Limited., approved a spinout transaction of its early stage exploration projects, royalties interests, and certain other assets. Almadex will be re-named Azucar Minerals Ltd., upon closing of the transaction.
  • Candente Gold Corp., reached an agreement with 3rd Eye Research to retain IR services.
  • First Majestic Silver Corp., completed the acquisition of Primero Mining Corp. With the arrangement now completed the Primero´s shares will be delisted from the TSX. The company also announced the termination of the silver purchase agreement with Wheaton

Precious Metals Corp., relating to the San Dimas mine.

  • Goldplay Exploration Ltd., received the approval to acquire the 100% of the San Marcial, Sinaloa option agreement with SRR Mining. Goldplay will pay, over a three year option period, $2.6 M in cash, issue 3.5M common shares, and incur in exploration expenses for $3M.
  • Primero Mining Corp., announced receipt of Mexican antitrust clearance for the arrangement with First Majestic.
  • MX Gold Corp., signed a definitive agreement to sell its 50% interest on its Magistral project in Durango for a purchase price of US$4.5M.

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, an oxidized quartz vein with a high content of disseminated pyrite in a prospect in Oaxaca, Mexico. Photo by Miguel A Heredia.

 

MX Gold Signs Definitive Agreement to Sell Interest in Magistral Joint Venture and Announces Change of Officer

mx gold signs agreement to sell interest in magistral

VANCOUVER, British Columbia, May 11, 2018 (GLOBE NEWSWIRE) — MX Gold Corp. (TSX-V:MXL) (FSE:ODV) (OTCQX:MXLGF) (the “Company” or “MX Gold”) announces that, further to its news release dated April 5, 2018, it has entered into a definitive agreement dated May 9, 2018 (the “Magistral Agreement”) whereby, subject to the closing thereof, the Company has agreed to sell its 50% beneficial interest in the Mexican Magistral Project (“Magistral”) for a purchase price of US$4.5 million.

The Magistral Agreement is in addition to the other four previously disclosed binding agreements that collectively propose to sell the Company’s entire mining portfolio in an arm’s length transaction to a private company for the aggregate purchase price of approximately CDN$14,952,000. The Company intends to use the funds to expand its existing and successful cryptocurrency mining pilot project of 360 mining units through the purchase of an additional 2,000 mining units under its existing lease arrangements located in Manitoba. The proposed sale of its mineral exploration assets and expansion of its cryptocurrency business (together, the “Transaction”) will constitute a Change of Business as defined by the policies of the TSX Venture Exchange (the “Exchange”).

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

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On the picture above, pervasive kaolinization of volcanic rocks in the vadose zone of an epithermal system in Guanajuato. Geologist Miguel Heredia for scale.

By Jorge Cirett

During the 14th week of the year (April 1st to April 8th, 2018), at least 12 press releases were announced by companies working in Mexico, of which three had information on exploration, one in mining, one in financing, five on resources and development and two in corporate issues. ON MEXICO ISSUES, No relevant news. ON EXPLORATION, In Sonora, Riverside informed on exploration of its Ariel copper project. In Sinaloa, Goldplay completed a geophysical survey at El Habal. In Durango, Southern Silver announced its exploration program for 2018 at Cerro Las Minitas. ON MINING, Torex Gold announced all access to its projects in Guerrero has been restored.  ON FINANCING, Palamina granted options to officers, directors and consultants.  ON RESOURCES AND DEVELOPMENT, Alio Gold released drill results on two more holes on its Ana Paula project in Guerrero. Telson Resources disclosed PEA figures for its Campo Morado project in Guerrero. Evrim announced a maiden resource on its Ermitaño project in Sonora. Americas Silver released drill results from the 120 zone of its Cosalá project in Sinaloa. Bacanora Lithium announced that a recent feasibility study demonstrated good economics for its Sonora project.  ON DEALS AND CORPORATE ISSUES, Evrim announced First Majestic commenced arbitration proceedings on its Ermitaño project in Sonora. Bacanora Lithium announced the termination of a “placing letter” with NextView New Energy Bull HongKong Limited, regarding funding for its Sonora lithium project.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Goldplay Exploration Ltd. completed a ground CSMAT (Controlled source audio frequency magnetotellurics) and magnetics survey at its El Habal property in Sinaloa, delineating 15 new drill targets. Goldplay completed a 27-line survey consisting of 100 m line spacing and 409 total stations over the 1.5 km of mineralized known length at El Habal. “Results confirm anomalous zones previously identified by historical drilling results and nearby shallow historical underground workings”. Several resistive geophysical anomalies were identified that correlate with anomalous surface trenching results and structural trends mapped previously.
  • Riverside Resources Inc. identified through mapping altered porphyritic intrusive rocks in the western part of its Ariel porphyry copper project in Sonora. The hydrothermal alteration measures 2.8 km in length by up to 1.9 km in width.
  • Southern Silver Exploration Corp. announced that a 2018 budget totaling US$3 M has been approved by the joint venture partners for exploration work at the Cerro Las Minitas project in Durango. “The program comprises 13,000 metres of drilling in two phases which will target both the systematic resource expansion in the Area of the Cerro containing the existing Mineral Resource Estimate and continued surface sampling and reverse circulation drilling on new discoveries in the recently staked CLM West claim group.”

ON MINING

  • Torex Gold Resources. Reported that negotiations between community leaders have resulted in an end to the illegal blockades of the El Limon-Guajes mine complex, supporting infrastructure and the Media Luna project in Guerrero. “The official government-regulated process for selecting between the two competing unions, continues. Since midMarch, there have been two public hearings at the Federal Labour Board, regarding the timing of a union selection vote. It is Torex’s understanding that the public hearing stage of the process is now complete, and that the next stage is a decision as to when and where the vote will occur. As Torex has said since the beginning, the Company will work with whichever union the workers democratically select.” Cash reserves at the end of Q1 were US$124 million, including US$14 million set aside for reclamation obligations. Also during Q1 a US$9.3 million principal repayment was made to reduce the term loan under the debt facility to US$290.7 million.

ON FINANCING

  • Palamina Corp. granted 950 K stock options to certain officers, directors and consultants of the company under its stock options plan. The options granted at $0.39 per common share expire in five years for officers and directors and in three years for consultants (Santuario, Hidalgo).

ON RESOURCES AND DEVELOPMENT

  • Alio Gold Inc. released drill results for the last two holes at its Ana Paula project in Guerrero. The 3,800 m program targets the complex breccia extension below the proposed open pit. On the first hole a hydrothermal breccia south of the proposed pit returned 0.94 g/t Au over 44.2 m, while the complex breccia below assayed 1.91 g/t Au over 40.90 m. The second hole returned 0.90 g/t Au over 32.4 m on the hydrothermal breccia south of the proposed pit and 2.03 g/t Au over 48.2 m on the complex breccia below. The fourth and fifth holes of the program have been completed and the last hole is in progress.
  • Telson Mining Corp. informed a positive result of a 43-101 compliant independent preliminary economic assessment (PEA) on its Campo Morado project in Guerrero. The current resource contains five mineral volcanogenic massive sulfide zones (G9, El Largo, Naranjo, Reforma and El Rey) containing zinc, copper, silver, gold and lead. The 2017 mineral resource estimate using a 5.5% ZnEq cut-off holds 16.6 M tonnes @ 1.70 g/t Au, 123 g/t Ag, 0.80% Cu, 0.93% Pb, 4.01% Zn (or 8.68% ZnEq) as measured and indicated resources, and 988 K tonnes @ 1.32 g/t Au, 116 g/t Ag, 0.64% Cu, 0.92% Pb, 3.20% Zn (or 7.27% ZnEq)as inferred resources.
  • Evrim Resources Corp. announced a maiden resource was disclosed by its partner First Majestic Silver Corp. on its Ermitaño project in Sonora. The inferred resource was calculated on the Ermitaño West vein, holding 3.36 M tonnes @ 3.99 g/t Au, 68 g/t Ag (or 377 g/t AgEq), containing 432 K Oz Au, 7.38 M Oz Ag.
  • Americas Silver Corp. released results of step-out holes on its Cosalá operations in Sinaloa. Highlighted true width (TW) intervals comprise 4.94 m @ 33 g/t Ag, 7.2 g/t Au, 0.13% Cu; 41.68 m @ 148 g/t Ag, 0.25 g/t Au, 0.32% Cu; 26.24 m @ 181 g/t Ag, 0.11 g/t Au, 0.51% Cu; 12.32 m @ 84 g/t Ag, 0.17 g/t Au, 0.23% Cu. “The zone 120 deposit is characterized by steeply dipping parallel lenses of Ag-Cu-Au skarn mineralization developed in volcanically derived calcareous sediments adjacent to intermediate intrusive dykes and sills. Skarn mineralization is characterized by disseminated chalcopyrite and tetrahedrite….. Mineralization at area 120 has been found over an area greater than 500 meters in length, 300 meters in width and down to a depth of 550 meters. Individual lenses have widths of up to 60 meters.”
  • Bacanora Lithium plc. Informed a recently completed feasibility study (FS) demonstrated economics of US$1.25 billion NPV; 26.1% IRR; and life of mine gross operating costs of US$3,910/t Li2CO3 comparable to those of the low cost brine producers of South America. Design of both the roaster/kiln FEED and the crystalliser/evaporation/IX FEED has commenced. “The current FEED schedule is to have designs, cost estimates and process guarantee scopes completed in Q2 2018 with orders for long lead items being placed at the end of the FEED process. The current ­time table is based on commissioning and lithium carbonate production commencing in Q1 2020” Currently advance is being made on water licenses, natural gas supplies and land surface access.

ON DEALS AND CORPORATE ISSUES

  • Evrim Resources Corp. announced “that First Majestic has initiated arbitration proceedings in connection with its purported exercise of the option pursuant to which First Majestic can earn a 100% interest in the Ermitaño property, subject to the retention by Evrim of a 2% net smelter return royalty interest. It is expected that the arbitration will deal with the requirements under the option agreement for First Majestic to exercise the option and not the relative interests of the parties in the Ermitaño property.” (Ermitaño, Sonora).
  • Bacanora Lithium plc. “As previously announced, the Company entered into a binding placing letter (the “Placing Letter”) with NextView New Energy Bull HongKong Limited (“NextView”) in December 2017 and as announced on 28 February 2018, although the Company had fulfilled all of its obligations in respect of the Placing as of that ­me, NextView failed to forward the Placing proceeds to the Company, leaving it in default under the terms of the Placing Letter. In spite of repeated efforts on the part of the Company requesting that NextView remedy its continuing default, NextView has continued to fail to complete the Placing as contemplated under the Placing Letter. Accordingly, the Company has terminated the Placing Letter and has reserved its rights to pursue any available legal remedies against NextView.”

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, pervasive kaolinization of volcanic rocks in the vadose zone of an epithermal system in Guanajuato. Geologist Miguel Heredia as scale.

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

By Jorge Cirett

During the 8th week of the year (February 19th to February 25th, 2018), at least 26 press releases were announced by companies working in Mexico, with five companies reporting quarterly and/or full year 2017 results. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Sonora, Azure is to continue drilling its Sara Alicia Au-Co-Zn project; Evrim described the Sarape low sulfidation project. ON MINING, five companies, Starcore, Osisko Gold Royalties, Alio Gold, Argonaut Gold and Great Panther presented production results for the quarter and/or full year 2017.  ON FINANCING, Torex Gold announced an over-allotment of shares, taking the gross proceeds of its last offering to C$63.32 M. Evrim is accelerating the exercise of warrants that could add to up to $2.94 M. ON RESOURCES AND DEVELOPMENT, Pan American, Avino Silver and Alamos Gold presented resource estimate updates for its operating units to the end of 2017. Southern Silver Exploration presented an updated mineral resource estimate for its Cerro Las Minitas property in Durango. Endeavour presented an update on development of its El Compas project in Zacatecas. Silver Bull disclosed drill results from its Sierra Mojada property in Coahuila. Almaden Minerals released more infill drill results from its Tuligtic project in Puebla. ON DEALS AND CORPORATE ISSUES, Leagold announced the proposed take-over of Brio Gold, which owns a mine in Brazil. Bacanora Minerals is in the paperwork to move from the Canadian TSX to the British AIM stock exchange. Coeur Mining signed a LOI with Evrim on the acquisition of the El Sarape project in Sonora. Oroco Resource acquired interest on three concessions surrounding the Santo Tomas deposit in Sinaloa.

ON MEXICO ISSUES

  • No relevant news

ON EXPLORATION

  • Azure Minerals Ltd. intends to resume drilling within two weeks at the Sara Alicia project in Sonora. The mineralized zone consists of carbonate rocks intruded by a porphyry, forming a skarn horizon hosting massive and semi-massive sulfides with Au-Co grades. The mineralized body has a strong magnetic signature, extending for 300 m by 150 m and modelling of the magnetic data indicates a considerable vertical extent. The best intercept from the previous drilling was 26.2 m @ 9.5 g/t Au, 1.26% Co.
  • Evrim Resources Corp. described the Sarape project in Sonora, recently optioned to Coeur Mining Inc. There are two major veins, The Sarape vein is 6 km long and up to 12 m in width, while the Chiltepin vein measures 2.6 km in length and up to 3 m in width. The western part of both veins contains barren white quartz and calcite veins, whereas the eastern portion is composed by a separate phase of low temperature, tan green quartz that consistently assays from 0.10 to 0.36 g/t Au, peaking at 3.6 g/t Au. Neither vein has been drilled.

ON MINING

  • Starcore International Mines Ltd. released production results for Q3 2018, ended on January 31, 2018. During the period 65.6 K tonnes were milled @ 1.23 g/t Au, 16 g/t Ag, producing 2,405 AuEq Oz at its San Martin mine in Queretaro. Recoveries stood at 83.7% Au, 53.3% Ag. The Altiplano facility in Matehuala, San Luis Potosi, received 176 tonnes of concentrate containing about 222 Oz Au, 35,634 Oz Ag, and sold 269 Oz Au, 23,561 Oz Ag.
  • Osisko Gold Royalties Ltd. presented Q4 2017 and full year 2017 results. While not presenting numbers, it reports an offtake agreement on production from Gogold’s Parral project in Chihuahua.
  • Alio Gold Inc. provided its fourth quarter and year end 2017 results. During the year the San Francisco mine in Sonora produced 83,211 Oz Au, 38,911 Oz Ag, with 16,067 Oz Au, 7,873 Oz Ag produced during the fourth quarter 2017. At the Ana Paula project in Guerrero, Alio invested $17.3 M, with work ongoing for the definitive feasibility study (FS). Cash and cash equivalents by the end of 2017 amounted to $51.6 M, while working capital was $61.7 M.
  • Argonaut Gold Inc. announced its financial and operating results for the fourth quarter and full year 2017. At El Castillo in Durango, during the year 8.14 Mt (tonnes) of ore,10.4 Mt of waste were moved, for a 51 K tonnes per day (tpd) rate, with the ore grading 0.36 g/t Au to produce 59,000 Oz Au at cash cost $1,015 per sold Au Oz. At San Agustin in Durango, since starting commercial production in October 1, 939 Kt of ore @ 0.5 g/t Au and 404 Kt of waste were moved for a 15 K tpd operation, to produce 10,302 Oz Au, 45,100 Oz Ag at cash cost $385 per Au Oz sold. At La Colorada in Sonora 18.87 Mt of ore @ 0.54 g/t Au and 23.35 Mt of waste were moved at a 64 K tpd rate to produce 50,796 Oz Au, 174,330 Oz Ag at cash cost of $691 per Oz Au sold. During the fourth quarter $2.8 M of income tax was recovered. For 2018 the company expects to produce 165 K to 180 K AuEq Oz.
  • Great Panther Silver Ltd. reported financial results for 2017. Without disclosing production by unit, the Topia (Durango), San Ignacio (Guanajuato) and Guanajuato mine complex produced 1.98 M Oz Ag, 22,501 Oz Au at cash cost $5.76 per Ag Oz, cash cost of $12.11 per AgEq Oz and AISC of $15.07. Cash and short-term deposits at year-end were $56.9 M.

ON FINANCING

  • Torex Gold Resources Inc. issued as an over-allotment an additional 130,500 common shares on the previously announced offering, augmenting the aggregate gross proceeds to C$63.32 M.
  • Evrim Resources Corp. is accelerating the exercise date of the company’s common share purchase warrants date December 16, 2015. If all the remaining outstanding warrants were exercised, these would raise cash proceeds of $2.94 M.

ON RESOURCES AND DEVELOPMENT

  • Endeavour Silver Corp. reported an update on development progress at El Compas project in Zacatecas. The plant refurbishment is 90% complete, mine power and mine portal infrastructure completed and only 100 m of development to reach the ore body. The plant design has been modified to increase capacity from 250 tonnes per day (tpd) to 325 tpd, with the mine plan expanded from 200 tpd to 250 tpd, with potential to go to 500 tpd. The improved operating metrics would take production to 1.175 M AuEq Oz per year, and needs an increase of only 13% on Capex.
  • Pan American Silver Corp. updated mineral reserves and resources, including figures for its properties in Mexico. Globally Pan American mined 30.6 M contained Ag Oz of its silver reserves, but replaced 33.2 M contained Ag Oz, to end 2017 with 288.4 M contained Ag Oz.Pan American REserves and Resources, 201711
  • Silver Bull Resources Inc. released results of seven drill holes targeting the Sulfide Zone under the oxide resource at its Sierra Mojada project in Coahuila. Significant results comprise 2 m @ 70 g/t Ag, 0.25% Cu; 2 m @ 1,300 g/t Ag, 13.5% Zn, 3.9% Cu, 2.9% Pb; 4 m @ 10 g/t Ag, 4.3% Zn; 6 m @ 5.8% Zn, 0.47% Cu; 6 m @ 802 g/t Ag, 5.9% Zn, 3.3% Cu, 0.5% Pb.
  • Avino Silver & Mines Ltd. completed an updated mineral resource estimate for the Avino property in Durango. This updated mineral resource estimate includes 34 drill holes that were completed during the drill programs from 2016 to 2017.Avino, Resource update, FEb. 20181
  • Alamos Gold Inc. reported updated mineral reserves and resources as Dec 31, 2017, including figures from its Mexican operations. The company has 5.07 M Oz Au in mineral reserves and resources in its Mexican projects, according to the table below. A total of $13 M and 41,500 m of drilling has been budgeted at Mulatos for exploration in 2018, with focus on Carricito.Alamos Gold Reserves and Resources 20171
  • Almaden Minerals Ltd. released drill results from the infill program at its Tuligtic project in Puebla. The holes were drilled beneath the proposed pit, which stresses the potential for expansion. Highlighted intervals comprise: 101.45 m @ 1.94 g/t Au, 13 g/t Ag, including 46.20 m @ 3.87 g/t Au, 15 g/t Ag, and 28.95 m @ 5.61 g/t Au, 20 g/t Ag, and 13.10 m @ 9.35 g/t Au, 25 g/t Ag; 53.90 m @ 0.48 g/t Au, 38 g/t Ag, including 12.00 m @ 3.60 g/t Au, 27 g/t Ag, and 5.00 m @ 7.91 g/t Au, 38 g/t Ag; 57.55 m @ 1.29 g/t Au, 23 g/t Ag, including 3.00 m @ 16.87 g/t Au, 38 g/t Ag.
  • Southern Silver Exploration Corp. filed a NI-43-101 compliant technical report on a mineral resource estimate for its Cerro Las Minitas project in Durango. The indicated resource on the Blind Zone, El Sol, Las Victorias and the Skarn Front zones add up to 10.13 Mt @ 102 g/t Ag, 0.10 g/t Au, 1.4% Pb, 3.6% Zn, 0.15% Cu, containing 33.35 M Oz Ag, 34 K Oz Au, 319 M Lb Pb, 813 M Lb Zn, 33 M Lb Cu. The inferred resource in the Blind, El Sol and Skarn Front zones add another 8.68 Mt @ 74 g/t Ag, 0.04 g/t Au, 0.7% Zn, 4.5% Zn, 0.15% Cu, containing 20.72 M Oz Ag, 12 K Oz Au, 131 M Lb Pb, 870 M Lb Zn, 29 M Lb Cu. The four separate mineral deposits form sets of sub-parallel steeply dipping mineralized zones extending more than 1,000 m along strike and up to 600 m depth.

ON DEALS AND CORPORATE ISSUES

  • Leagold Mining Corp. announced the proposed take-over bid on Brio Gold Inc. by Leagold will now be completed on a Brio board supported basis. “The total consideration to be paid by Leagold in exchange for all of the issued and outstanding Brio shares is approximately US$279M….”. The combined entity is expected to produce between 420,000 and 475,000 oz of gold in 2018 Brio’s shareholder meeting is expected to be held in April 2018 (Los Filos, Guerrero).
  • Bacanora Minerals Ltd. entered into an arrangement agreement to facilitate the Company’s proposed reorganization to effect a re-domicile to the United Kingdom as Bacanora UK on the AIM market of the London Stock Exchange. Upon listing Bacanora UK, Bacanora Canada intends to delist from the Toronto Stock Exchange.
  • Evrim Resources Corp. signed a letter of intent (LOI) with Coeur Mining Inc. on the Sarape epithermal Au-Ag project in Sonora. The transaction involves a US$100 K in cash upon signing a definitive agreement, a first-year commitment of US$500 K in exploration. Once those terms are completed Coeur can earn-in a 51% interest by producing a NI-43-101 preliminary economic analysis (PEA) on a minimum inferred resource of 1 M Oz AuEq. Coeur can elect to earn-in an additional 39% by delivering a NI-43-101 feasibility study (FS) on a minimum measured and indicated resource of 1 M Oz AuEq. From this point Coeur will pay US$100K per year until mining and construction permits are received, at which point Evrim can elect to participate on the JV with a 20% interest, or convert that interest to a 3% NSR, of which one third can be purchased by Evrim for US$2.0 M. Evrim will be the operator up to completion of the PEA, after which Coeur shall be the operator.
  • Oroco Resource Corp. acquired a 77.5% interest on La China II and Amp. Santo Tomás Reduccion 1 mineral concessions from Santo Tomas Metals S.A. de C.V., and a 77.5% interest in an application for the Papago 17 application from Ubaldo Trevizo Ledezma, in Sinaloa. The three properties add to 6,978 ha and abut and surround the Santo Tomás copper porphyry. Oroco acquired its interest on La China II by the payment of CDN$6,700 and its interest on AMP Santo Tomas Reduccion 1 with the payment of CDN$33,400. The latter concession has been cancelled, but it is deemed to be recoverable to good standing. The Papgo 17 concession interest was acquired by the payment of CDN$6,700 and the issuance of 2 M shares. All three concessions are subject to a 2% NSR. Oroco also holds a 13.6% and an option to acquire a further 6.4% equity interest in Altamura Copper Corp., a British company that acquired the Santo Tomas concessions, and is in negotiations to acquire the remaining Altamura shares (Note for clarity.-Altamura has an ownership legal dispute with a third party on the Santo Tomas concessions, where the known deposit is).

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, section on the San Rafael Mine, as seen at the museum of El Oro mining district in Estado de Mexico.

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

By Miguel A Heredia

During the 7th week of the year (February 12th to February 18th, 2018), at least 23 press releases were announced by companies working in Mexico, with five reporting its Q4 and annual 2017 results, six providing update on exploration at their projects, and six announcing financing rounds. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Sonora, Azure commenced a regional exploration program within its Oposura project. It also reported results from soil and ground magnetic surveys at its Sara Alicia project. Riverside provided update on exploration and drilling at its Glor project in Sonora. In Chihuahua, Consolidated Zinc announced high-grade drill results from Tres Amigos area at its Plomosas property; Kootenay announced a drill program at its la Cigarra project. In Durango, Hecla discovered new high-grade zones between known veins on its San Sebastian project.  ON MINING, Telson announced the startup of pre­-production developing mining and processing at its Campo Morado Mine in Guerrero, and the results of pre-production mining and processing at its Tahuehueto Mine in Durango. Avino reported annual production results for 2017 and 2018 outlook for the Avino and San Gonzalo Mines in Durango.  GoGold reported the sale of 366.4K Oz Ag Eq produced at its Parral operation in Chihuahua.  Capstone, Hecla and Agnico presented Q4 and annual production results for 2017. Mexus announced sale of gold produced at its Santa Elena Mine in Caborca, Sonora. ON FINANCING, GoGold reported income of $42.9M and income of $30M for Q4 2017. Levon closed a non-brokered private placement for $900K. Orla closed bought deal financing for $30.77M.  First Majestic closed an over-allotment option for $150M. Agnico participated in Orla Mining financing acquiring $3M on shares. Alamos Gold announced a financing round of $CAD 3.3M.  ON RESOURCES AND DEVELOPMENT, Azure commenced a geological modelling and maiden resource estimation at its Oposura project in Sonora. Sierra Metals disclosed a new mineral resource estimate for its Cusi Mine in Chihuahua. ON DEALS AND CORPORATE ISSUES, Telson Resources announced a change of name to Telson Mining Corporation. San Marco Resources, Impact Silver, and Defiance Silver announced the appointments of Investor Relations, CFO and interim President & CEO respectively.

ON MEXICO ISSUES

  • No relevant news

ON EXPLORATION

  • Azure Minerals Limited, announced positive results in two of its projects in Sonora. At Sara Alicia project, Azure reported a strong 200m by 100m Co-Au anomaly from a close-spaced soil sampling with highest values of 1.26 g/t Au and 0.15% Co, which show a close association with strongly magnetic skarn confirmed by magnetic surveys. A separate high-grade Zn anomaly exceeding 1,000 ppm Zn was also identified from the soil sampling. Average of 26 samples is 0.45% Zn with a maximum value of 3.54% Zn. A drill program to test these positive results is in preparation. Azure also announced that the resource definition drilling program comprising 76 holes for 4,196m at the east zone of its Oposura project has finished. It also reported good portable XRF analysis of samples returning high-grade rock chips up to 8.3% Pb and 2.3% Zn. A geological modelling and maiden resource estimation is expected to be completed in April 2018.
  • Riverside Resources Inc., completed a drilling program focused on its Puerto Alamo target within its Glor project in Sonora. The drill program comprised seven holes for a total length of 1,212m. Several narrow intervals were intersected from 1 to 4.7m in thickness @25 to 0.35 g/t Au. Stream sediment and soil sampling followed by mapping and rock sampling are planned for Q1 2018. Riverside also announced drill results from its Clemente project in Sonora where the best intersection returned 0.7m @ 827 g/t Ag, 0.23 g/t Au, and 2.1% combined Pb+Zn. Plans to explore undrilled potential areas of Au and Ag at the Santa Elena zone are in progress.
  • Consolidated Zinc Limited, announced drill results from the infill resource definition program at Tres Amigos Zone within its Plomosas Mine in Chihuahua. The most significant intersection comprise 5.65m @3% Zn, 7.6% Pb, and 24 g/t Ag; 4.50m @ 36.5% Zn, 0.76% Pb, and 9.3% Ag, including 1.0m @ 35% Zn, 0.97% Pb, and 7 g/t Ag. These high-grade results expand the Tres Amigos mineralized horizon up to 120m down dip.
  • Kootenay Silver Inc., is to commence a first phase 5,000m drill program on its La Cigarra project in Chihuahua. The goal is to test La Borracha Zone, the continuity of the high grade bearing structures such as the 104 vein, and the undrilled Nogalera Gold trend. A second phase drill program will be determined based on the results of this initial drilling.
  • Hecla Mining Company, discovered new high-grade zones expanding the polymetallic mineralization at San Sebastian in Durango, similar to the Huge Zone on the Middle and Francine veins. Drill results on the West Middle Vein include 317 g/t Ag, 3% Cu, 10% Pb, and 18% Zn over 1.34m and 385 g/t Ag, 4 % Cu, 6% Pb, and 9% Zn over 1.65m. On the Francine vein, drilling results include 295 g/t Ag, 2% Cu, 5% Pb, and 5% Zn over 1.92m to the east and 411 g/t Ag, 2% Cu, 4% Pb and 6% Zn over 1.1m to the west. Drilling continues to expand resources and evaluate polymetallic targets along the Middle and Francine veins and the plan is to also evaluate near-surface, oxide mineralization at the Professor, North and Esperanza veins.

ON MINING

  • Telson Resources Inc., announced the successful startup of pre­-production developing mining and processing at its Campo Morado Mine in Guerrero. Telson milled 106.6K tonnes with average head grades of 3.57% Zn, 0.38% Cu, 0.85% Pb, 0.83 g/t Au, and 103 g/t Ag to produce 5,021 tonnes Zn concentrate and 2,013 tonnes of Pb concentrate. Telson also announced results of pre-production mining and processing at its Tahuehueto Mine in Durango, with 22,662 tonnes produced from El Creston Zone with average head grades of 6.94 g/t Au, 84.36 g/t Ag, 5.29% Zn, and 2.64% Pb, of which only 14,377 tonnes were milled.
  • Avino Silver & Gold Mines Ltd., reported annual 2017 production of 1.4M Oz Ag, 8K Oz Au, and 4.4M Lb Cu from its Avino and San Gonzalo Mines, and announced the completion of an updated PEA for the Oxide Tailings. Avino is working on a plant and mine expansion to increase capacity at the processing plant.
  • GoGold Resources Inc., generated revenue of $5.8M on the sale of 366.4K Oz Ag Eq. GoGold stacked 362K tonnes during Q4 2017, which were all reprocessed tailings. For Q4 2017, GoGold reported total comprehensive income of $42.9M and net income of $30M.
  • Capstone Mining Corp., reported Q4 and annual 2017 production results from its Cozamin Mine in Zacatecas. During the fourth quarter, 4,254 tonnes of Cu were produced at a cash cost of $1.04 per Lb Cu produced and all-in cost of $2.08 per Lb Cu produced. For the full year, 16,732 tonnes of Cu were produced at a cash cost of $1.16 per Lb Cu produced and all-in cost of $1.90 per Lb Cu produced.
  • Hecla Mining Company, reported production of 759K Oz Ag and 5,955 Oz Au in Q4 and 3.3M Oz Ag and 25,177 Oz Au for the full year of 2017 from its San Sebastian Mine in Durango. Hecla generated cash for $62.4M and spent $11.2M resulting in free cash flow of $51.2M.
  • Agnico Eagle Mines Limited, reported annual 2017 production of 330,400 Oz Au from its Mexican Mines, which include 180,860 Oz Au from Pinos Altos and 48,400 Oz Au from Creston Mascota Mines in Chihuahua, and 101,120 Oz Au from La India Mine in Sonora.
  • Mexus Gold, announced the sale of a small amount of gold produced in a test run at its Santa Elena (Caborca) Mine. The company as hired a new engineer to run the mine since the heap leach pad has shown recovery difficulties.

 ON FINANCING

  • Levon Resources Ltd., closed a brokered private placement of $900K. Net proceeds will be used for corporate cost and working capital (Cordero project, Chihuahua).
  • Orla Mining Ltd., closed a bought deal financing for gross proceeds of $30.77M. Net proceeds will be partially used for exploration and development activities in its Camino Rojo project in Zacatecas.
  • First Majestic Silver Corp., announced the issuance of $US 6.5M aggregate principal amount of 1.875% unsecured convertible senior notes due 2023 to the exercise in part of the over-allotment option granted in connection with the previously announced offering of $US 150M (Six Mines in Mexico).
  • Agnico Eagle Mines Limited, announced the acquisition of 1.74M units of Orla Mining for a total consideration of $3.05M (Pinos Altos, Chihuahua).
  • Alamos Gold Inc., announced the sale of 3M shares of Corex Gold Corp., by a private share purchase and sale agreement with Osisko Gold Royalties Ltd at a price of $CAD 0.13 for a gross proceeds of $CAD 3.3M. After this transaction, Alamos has not shares in Corex (Mulatos, Sonora).

 ON RESOURCES AND DEVELOPMENT

  • Azure Minerals Limited, commenced a geological modelling and maiden resource estimation at its Oposura project in Sonora, which is expected to be completed in April 2018. This resource estimation along with other project development studies will be used to prepare a scoping study (SS) / preliminary economic assessment (PEA) scheduled for the third quarter of 2018.
  • Sierra Metals Inc., filed a technical report to disclose the new mineral resource estimate on its Cusi Mine in Chihuahua. Total measured mineral resources are 362K tonnes @ 225g/t Ag, 0.55% Pb, 0.68% Zn, and 0.13g/t Au. Total indicated resources are 4.2M tonnes @ 217g/t Ag, 0.64% Pb, 0.66% Zn, and 0.21 g/t Au. Total inferred resources are 1.63M tonnes @ 158 g/t Ag, 0.54% Pb, 0.84% Zn, and 0.16 g/t Au. Sierra Metals reported that the total measured + indicated resources increased 129% to 4.56M tonnes from 2M tonnes, while total inferred resources increased 36% to 1.6M tonnes from 1.2M tonnes previously reported.

 ON DEALS AND CORPORATE ISSUES

  • Telson Resources Inc., announced a change of name from Telson Resources to Telson Mining Corporation (Campo Morado, Guerrero).
  • San Marco Resources Inc., announced the appointment of its Investor Relations Consultant (Chunibas, Sonora).
  • Impact Silver Corp., announced the appointment of its CFO (Guadalupe-Minas de Zacualpan, Estado de Mexico).
  • Defiance Silver Corp., announced the appointment of its interim President & CEO (San Acacio, Zacatecas).

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, banded chalcedonic quartz with Ag sulphosalts from a project in Durango State. Photo by Miguel A Heredia.

Alamos Gold Files Early Warning Report

alamos gold files early warning report

Toronto, Ontario (February 16, 2018) – Pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) is announcing the sale of 25,300,000 common shares (the “Shares”) of Corex Gold Corp. (“Corex”), representing approximately 16.12% of the outstanding shares of Corex by way of a private share purchase and sale agreement with Osisko Gold Royalties Ltd. at a price of CAD$0.13 per Common Share for gross proceeds of CAD$3,289,000 (the “Transaction”). Following the transaction Alamos will hold no shares in Corex.

GoGold Reports Total Comprehensive Income of USD $42.9 Million

GoGold-PR20180214

Halifax, NS – GoGold Resources Inc. (TSX: GGD) (“GoGold”, “the Company”) reports total comprehensive income of $42.9 million and net income of $30.0 million for the three months ended December 31, 2017. The Corporation structured the sale of Santa Gertrudis to utilize existing tax loss carryforwards and expects to pay no corporate income tax associated with the transaction.  With the gross proceeds from the transaction of $80 million before a retained 2% net smelter royalty, the Corporation’s net working capital position improved to $44.3 million from a deficiency at September 30, 2017 of $10.4 million.  (All amounts are in U.S. dollars).

TELSON ANNOUNCES CAMPO MORADO MINE 2017 STARTUP OPERATIONAL RESULTS OF 2.4 MONTHS OF DEVELOPMENT, PREPRODUCTION AND INITIAL CONCENTRATE SALES

TSN_NR_178_Feb12_2018

Vancouver, British Columbia, February 12th, 2018

Highlights:

  • Mill processed 106,655 tonnes of mineralized development material over 71 operational days averaging 1,502 tonnes per day reaching 96% operational efficiency 24×7.
  • Produced 5,021 tonnes of zinc concentrate averaging 44% zinc. 1.04 g/tonne Au and 502 g/tonne Ag
  • Shipped for sale approximately 4,530 tonnes zinc and 578 tonnes of lead concentrate representing approximately 73% of total 2017 concentrate production to Trafigura, Manzanillo warehouse.
  • Preliminary payment totaling approximately USD $4.8 million received by Telson for shipped concentrates equating to approximately 90% of final estimated sale price.

Coeur Reports Fourth Quarter and Full-Year 2017 Results and Provides 2018 Cost Guidance

http://investors.coeur.com/Cache/1500107409.PDF?Y=&O=PDF&D=&FID=1500107409&T=&IID=4349317

Chicago, Illinois – February 7, 2018 – Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported full-year 2017 net income of $10.9 million, or $0.06 per share, and cash flow from operating activities of $197.2 million, an increase of over 100% compared to 2016. Adjusted EBITDA1 rose 4% year-over-year to $203.3 million, and free cash flow1 increased $85.5 million to $60.4 million.

In the fourth quarter, the Company generated net income of $14.3 million, or $0.08 per share, and cash flow from operating activities more than doubled quarter-over-quarter, increasing $54.5 million to $91.8 million. Adjusted EBITDA1 and free cash flow1 of $77.0 million and $44.8 million, respectively, increased approximately fivefold compared to the prior quarter.