SONORO COMMENCES TRADING ON OTCQB

http://www.sonorometals.com/news/2017/08182017/

VANCOUVER, Canada, August 18, 2017, Sonoro Metals Corp., (“Sonoro” or the “Company”) (TSXV: SMO) (OTCQB: SMOFF), announces that the common shares of Sonoro will commence trading on the OTCQB Venture Market under the trading symbol SMOFF effective as of August 18, 2017. Sonoro’s common shares also continue to trade of the TSX Venture Exchange under the trading symbol SMO.

Located in New York, OTC Markets Group Inc. operates the world’s largest electronic interdealer quotation system for broker dealers to trade over 10,000 securities not listed on any other United States stock exchange. North American and international investors can now trade and find news, current financial disclosure and real time Level 2 quotes for Sonoro at www.otcmarkets.com.

“We are pleased to now provide our current and future American and international shareholders with the flexibility to trade Sonoro shares in both Canadian and American markets,” stated Kenneth MacLeod, President & CEO of Sonoro. “The addition of trading on the OTCQB Venture Exchange provides Sonoro with the benefit of access to a more expansive capital pool.”

Highlights on the Third Week of August, 2017. Mineral Exploration in Mexico

During the 33rd week of the year (August 14th to August 20th, 2017), at least 24 press releases were announced by companies working in Mexico, including five quarterly reports. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Azure reported the acquisition of the Oposura property (formerly Arenillas). In Sinaloa Marlin Gold released results from a twin hole south of its La Trinidad mine, and Santana Minerals reported saw channel samples from its Cuitaboca project. In Veracruz Almadex reported good gold and copper values over a long drill intercept at El Cobre. ON MINING, GoGold, Sierra Metals, Fortuna Silver, Aura Minerals and Starcore presented financial and/or operational results for the last quarter. Telson resources reported the second concentrates shipment from Tahehueto in Durango. ON FINANCING, Primero mining is delisted from the NYSE. Southern Silver is extending the closing of the second tranche of financing. Maverix Metals closed a senior secured loan facility with CFE Ltd.  ON RESOURCES AND DEVELOPMENT, Avino Silver released infill and step-out drilling results from Avino, in Durango. Kootenay  announced the discovery o a new mineralized zone at its La Cigarra property in Chihuahua. Minera Alamos commenced an exploration program focused on resource expansion at La Fortuna in Durango. Consolidated Zinc disclosed more high-grade results from infill and step-out drilling at its Plomosas property in Chihuahua. ON DEALS AND CORPORATE ISSUES, Santacruz Silver completed the sale of the Gavilanes project in Durango to Marlin Gold. Discovery Metals announced the acquisition of multiple properties in Coahuila, including the Puerto Rico listing property.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Marlin Gold Mining Ltd. announced that a diamond drill hole at the San Cristobal target, 12 km from its La Trinidad mine in Sinaloa intercepted 13.90 m true width (TW) @ 1.19 g/t Au, 21 g/t Ag. The objective of the drill hole was to twin a reverse circulation hole that intersected 0.74 g/t Au over 30 m in 2010. “Reconnaissance geological mapping and sampling (over 1,600 rock chip samples) indicate gold and silver is associated with quartz veins, quartz stockwork, quartz breccia and silicified zones within a four kilometer-wide, northwest-trending structural corridor”.
  • Almadex Minerals Ltd. disclosed results from the best hole to date at the North zone of its El Cobre project in Veracruz. The drill hole intersected multiple zones of intense stockwork veining and potassic alteration with gold and copper mineralization. The 534.9 m intercept @ 0.90 g/t Au, 0.3% Cu includes 144.8 m @ 1.77 g/t Au, 0.45% Cu (which includes 98.0 m @ 1.96 g/t Au, 0.48% Cu.
  • Endeavour Silver Corp. Released results from recent drilling at La Luz vein in its Terronera property in Jalisco. Relevant true width intercepts of 1.7 m @ 16.2 g/t Au, 45 g/t Ag; 1.3 m @ 20.9 g/t Ag, 25 g/t Ag; 1.4 m @ 0.2 g/t Au, 419 g/t Ag; 1.0 m @ 2.3 g/t Au, 73 g/t Ag; 1.1 m @ 2.7 g/t Au, 91 g/t Ag; 1.1 m @ 20.3 g/t Au, 384 g/t Ag, 1.2 m @ 16.5 g/t Au, 38 g/t Ag; 1.2 m @ 7.6 g/t Au, 12 g/t Ag. Anomalous values of up to 0.15% of Cu, Pb and Zinc are part of the results.
  • Azure Minerals Ltd. announced the acquisition of 100% of the Zn-Pb-Ag Oposura project (previously known as Arenillas) in Sonora, without elaborating on the terms. About 100 drill holes were completed previously on the property, and a non JORC compliant resource estimated. Sampling of the mineralized zone returned multiple assays over 30% Pb+Zn, with significant silver values. “The overall mineralised zone is up to nine metres thick, averages about three metres in true width, and demonstrates good continuity of width and grade”.
  • Santana Minerals Ltd. reported significant diamond saw channel sampling results from the La Plata prospect within its Cuitaboca project in Sinaloa. The results over accessible outcrops include 2.45 m @ 362 g/t Ag and 4.60 m @ 295 g/t Ag. These results represent the continuity 300 m east of previous sampling, extending the potential strike of the interpreted La Plata vein system to approximately 2 km.
  • Galore Resources Inc. disclosed assay results from seven rock chip samples collected on El Alamo target on its Dos Santos project in Zacatecas. The samples collected in breccias and jasperoids assayed 0.8 to 18.6 g/t Au. Drilling plans envisage ten 150 to 300 m deep holes.

ON MINING

  • Telson Resources Inc. announced the second shipment of 128 tonnes of lead concentrate and 227 tonnes of zinc concentrate from the Tahuehueto mine. The metal recoveries were 83.5% Au, 89.3% Ag, 86.1% Pb, 85.4% Zn.
  • GoGold Resources Inc. released its financial results for the quarter ending on June 2017 (their Q3). During the period 2,337 Oz Au, 151,422 Oz Ag were produced at the Parral tailings project at cash cost of $9.61 per AgEq Oz. The Santa Gertrudis high grade gold project produced 320 Oz Au. The overall cash cost was $16.2 per AgEq Oz and the all-in sustaining cost (AISC) $25.91. At the end of the quarter the company had a working capital deficit of $35.1 M. Management is exploring alternatives to de-lever its balance sheet.
  • Sierra Metals Inc. reported consolidated results for the second quarter of 2017. At Bolivar in Chihuahua the cash cost per CuEq Lb was $1.35 and AISC $2.49 per CuEq Lb for the period, while at Cusi, also in Chihuahua, the cash cost per AgEq Oz was $20.60 and AISC $49.13. At Bolivar 775 m of mine development were completed to prepare stopes for mine production, and 11,236 m were drilled at El Gallo, Bolivar Northwest and Bolivar West zones. At Cusi mine development totaled 1,551 m and 2,021 m of infill drilling were completed and further 15,566 m were drilled on the Santa Rosa de Lima orebody. Cash and cash equivalents of $31.1 M at the end of the period.
  • Fortuna Silver Mines Inc. reported its consolidated financial results for Q2 2017. At San Jose in Oaxaca 268.4 K tonnes were milled (3,016 tonnes per day, or tpd) @ 238 g/t Ag, 1.82 g/t Au, and a recovery rate of 92% Ag, 92% Au to produce 1.88 M Oz Ag, 14,410 Oz Au. Cash cost net of by-product credits was $1.03 per Ag Oz and AISC $7.67 per Ag Oz. Cash and short term investments of $16.7 M at the end of the period.
  • Aura Minerals Inc, released Q2 2017 financial and operating results. Aura owns the idle Aranzazu mine in Zacatecas, which is under care and maintenance. The company is evaluating options to maximize value of this asset.
  • Starcore International Mines Ltd. announced production results for the first quarter of fiscal 2018, ended July 31, 2017. During the quarter at the San Martin mine in Queretaro 69.7 K tonnes were milled @ 1.97 g/t Au, 12.6 g/t Ag with recoveries of 85.0% Au, 51.2% Ag to produce 3,888 Oz AuEq. Furthermore, the Altiplano Facility received 37. 2 tonnes of concentrate and 24.2 tonnes of slag containing approximately 150 Oz Au and 25.5 K Oz Ag.

ON FINANCING

  • Primero Mining Corp. has received formal notification from the New York Stock Exchange of its intention to initiate delisting procedures, as the company is no longer suitable for listing based on “abnormally low” price levels. The company continues trading on the Toronto Stock Exchange.
  • Southern Silver Exploration Corp. is extending the final closing date of its previously announced brokered private placement until September 15th, 2017. The first tranche closed in June, raising $2.55 M of the intended goal of $5.0 M on two tranches.
  • Maverix Metals Inc. closed the previously announced senior secured loan facility with CEF Ltd. for US$20 M. The company has closed the previously announced private placement to CEF and Pan Ameican Silver Corp. for total proceeds of $9.88 M. Maverix now has over C$44 M available to acquire additional precious metals royalties (Royalties from La Colorada in Zacatecas, San Jose in Oaxaca).

ON RESOURCES AND DEVELOPMENT

  • Avino Silver & Gold Mines Ltd. release further results from the extended 22 hole drill program comprising 3,374 m at the Avino mine in Durango. The program focused on tonnage and grade of the area between the San Luis workings and the Elena Tolosa current production area. Relevant results include 9.30 m @ 0.39 g/t Au, 29 g/t Ag, 0.25% Cu; 22.65 m @ 1.48 g/t Au, 41 g/t Ag, 0.20% Cu; 34.5 m @ 0.35 g/t Au, 88 g/t Ag, 0.82% Cu; 25.40 m @ 0.68 g/t Au, 47 g/t Ag, 0.08% Cu; 43.05 m @ 0.50 g/t Au, 33 g/t Ag, 0.08% Cu; 8.85 m @ 0.09 g/t Au, 61 g/t Ag, 0.77% Cu; 8.45 m @ 1.36 g/t Au, 7 g/t Ag, 0.07% Cu; 23.40 m @ 1.09 g/t Au, 167 g/t Ag, 0.38% Cu; 40.45 m @ 0.56 g/t Au, 42 g/t Ag, 0.19% Cu; 42.05 m @ 0.49 g/t Au, 103 g/t Ag, 0.18% Cu. Three areas are scheduled to have exploration drilling: San Gonzalo (1,200 m), The Avino-San Juventino intersection (2,000 m) and the Chirumbo mining area (2,000 m ).
  • Kootenay Silver Inc. announced the discovery of a new mineralized zone within La Venada target at its La Cigarra property in Chihuahua. This area is blind to the surface, 1 km south of the La Cigarra resource. “More than 250 meters in core length of quartz-calcite and quartz vein breccia and veining within altered sediments was intercepted…”. The new zone intercept comprises 29.5 m @ 91 g/t Ag, including 19.2 m @ 123 g/t Ag. Results from the Venada zone include 12 m @ 73 g/t Ag; 10 m @ 47 g/t Ag; 19.2 m @ 123 g/t Ag (including 2.0 m @ 435 g/t Ag; and 10.7 m @ 114 g/t Ag); 9.5 m @ 107 g/t Ag. All intervals contain values of up to 0.6% Pb and 3.3% Zn.
  • Minera Alamos Inc. has initiated an exploration program aimed to expand resources at La Fortuna property in Durango. Data compilation, surface mapping, drill targeting and  a new geophysical survey are to be completed on projections of the La Fortuna resource zone, the PN area, the Ramada zone, Cerro Pelon zone and the far southern area.
  • Consolidated Zinc Ltd. released results from its resource expansion drilling program at its Plomosas project in Chihuahua. True width intercepts include: 0.40 m @ 3.8% Zn, 1.0% Pb; 1.75 m @ 9.4% Zn, 1.7% Pb; 0.85 m @ 4.4% Zn, 0.3% Pb; 0.90 m @ 10.9% Zn, 6.7% Pb; 0.95 m @ 3.7% Zn, nil Pb. Length of drill hole intersections include 1.50 m @ 8.0% Zn, nil Pb; 1.35 m @ 34.7% Zn, nil Pb; 0.5 m @ 5.0% Zn, 0.2% Pb; 0.75 m @ 4.2% Zn, 0.3% Pb; 0.5 m @ 2.3% Zn, 1.1% Pb; 0.5 m @ 9.4% Zn, 0.3% Pb; 1.0 m @ 7.2% Zn, 0.4% Pb.

ON DEALS AND CORPORATE ISSUES

  • Santacruz Silver Mining Ltd. informed the sale of 100% interest in the Gavilanes property in Durango to Marlin Gold Mining Ltd. has been completed.
  • Discovery Metals Corp. is now classified as a Tier 2 Mining Issuer on the TSX Venture Exchange, with the completion of the transaction on the Puerto Rico property agreement. Under the agreement Discovery has done a $300 K payment, the issuing 500 K shares to the vendors, and pledged to make and additional US$300 K payment and issuing a further 500 K shares upon government drilling approval, and the issuance of four tranches of 500 K shares on each anniversary of the closing after the second anniversary. A final issuance of shares representing 30% of the company’s issued and outstanding capital is also included, with some clauses that can take the vendors stake to 35%. Discovery also has to spend not less than US$2 M within one year of the drilling approval and not less than $12.5 M within five years to exercise the option.
  • Discovery Metals Inc. For acquiring the Renata project in Ocampo, Coahuila a US $100 K payment is to be made to the vendors within three months of the closing. Not less than US$2 M have to be spent within three years of the closing, and in the case of sale to a third party the vendors are to receive the first US$3 M of the proceeds. On La Kika property in Coahuila, Discovery has paid US$45 K on closing, and has to spend not less than US$2 M within five years, the issuance to the vendors of 1 M shares and a royalty of 30% on the operating profits of the first 450 K tonnes shipped, or a 2% NSR otherwise. Additional option agreements involve La Minerva, Santa Rosa and Jemi/Rare Earth concessions..

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, low sulfidation quartz vein stockwork in felsic volcanic rocks, in the Sierra Madre of Chihuahua. Photo by Jorge Cirett.

DSCN5183 - copia

Primero to Delist From the NYSE; Shares Continue to Trade on the Toronto Stock Exchange

http://www.primeromining.com/English/investors/news/press-release-details/2017/Primero-to-Delist-From-the-NYSE-Shares-Continue-to-Trade-on-the-Toronto-Stock-Exchange/default.aspx

TORONTO, ON — (Marketwired) — 08/14/17 — Primero Mining Corp. (“Primero” or the “Company”) (TSX: P)(NYSE: PPP) today announces that it has received formal notification from the New York Stock Exchange (“NYSE”) of its intention to initiate delisting procedures of the Company’s common shares.

The NYSE has determined that the Company is no longer suitable for listing based on “abnormally low” price levels, pursuant to Section 802.01D of the Listed Company Manual. Primero will not seek an appeal to the NYSE’s decision. The NYSE will file Form 25 (Notification of Removal from Listing and/or Registration Under Section 12(b) of the Securities Exchange Act of 1934) with the U.S. Securities and Exchange Commission (“SEC”).

The Company’s common shares trade on the Toronto Stock Exchange (“TSX”) under symbol “P”.

Highlights on the Second Week of August, 2017. Mineral Exploration in Mexico

During the 32nd week of the year (August 7th to August 13th, 2017), at least 22 press releases were announced by companies working in Mexico, including eight second quarter reports. ON MEXICO ISSUES, two companies reported the receipt of VAT recovery from the government for $1.3 M and $2.4 M respectively. ON EXPLORATION, in Sonora, Oceanus reported results from underground sampling at El Tigre, while Millrock presented an update on properties under its alliance with Centerra. In Zacatecas, Alset presented drilling results from its lithium property, La Salada. In Guanajuato, Golden Minerals informed on drilling by Electrum of its Celaya property.  ON MINING, Golden Minerals, Torex Gold, Premier Gold, Alio Gold, Pan American Silver, Americas Silver, Primero Mining and Argonaut Gold presented production and/or financial results for the second quarter of 2017. US Antimony reported cost reductions on its operations and Telson resources reported the first concentrates shipment from Tahehueto in Durango. ON FINANCING, no relevant news for the first time in the year.  ON RESOURCES AND DEVELOPMENT, Golden Minerals informed on the acquisition of three more claims and the incoming drilling campaign on its Santa Maria project in Chihuahua. ON DEALS AND CORPORATE ISSUES, Santacruz Silver completed the sale of the Gavilanes project in Durango to Marlin Gold. Colibri completed the acquisition of Canadian Gold, along with its properties in Sonora. McEwen Mining reported on the next semi-annual return of capital instalment.

ON MEXICO ISSUES

  • On VAT recovery. The first company to announce a sizeable VAT recovery in years was Alio Gold, which received $1.3 M in cash before the end of the second quarter. Primero Mining received $2.4 M after the end of the second quarter.

ON EXPLORATION

  • Golden Minerals Co. announced that Electrum Global Holdings L.P. received results of drilling on Golden’s Celaya property in Guanajuato. Results from 5,600 m drilled in seven holes (800 m per hole?) show intercepts of epithermal quartz vein mineralization with Au, Ag, Zn grades that warrant further testing.
  • Alset Minerals Corp. reported partial results from phase one drilling at La Salada salar in Zacatecas, the first of 13 salars to be tested. At La Salada, one deep hole (51.35 m) and 40 auger holes (4.5 – 26.0 m in depth, average 14 m) were completed, both near surface brine samples and extensive lake sediment samples were recovered in the 1,800 m by 900 m salar. Results from five of the holes (the rest are pending) average 14.4 m @ 3.6% K, 975 ppm Li (up to,1860 pm) and 535 ppm B. Water samples average 1.3% K, 1.6% SO4, 258 ppm B, 9 ppm Li, 57 ppm Ca, 36 ppm Mg.
  • Oceanus Resources Corp. presented assay results from sampling at old underground exploration tunnels from the unmined Protectora, Aguilas, Fundadora and Caleigh veins on its El Tigre project in Sonora. The rock chip samples are said to be at least 0.5 m in width (no average width disclosed), and collected every 3-5 m along strike in 13 exploration tunnels. Average results include 3 samples on the Caleigh vein @ 19.9 g/t Au, 2,247 g/t Ag; On the Protectora vein: 20 samples @ 0.2 g/t Au, 437 g/t Ag; 18 samples @ 1.3 g/t Au, 290 g/t Ag; 4 samples @ 2.8 g/t Au, 337 g/t Ag; 16 samples @ 2.2 g/t Au, 473 g/t Ag; 5 samples @ 2.8 g/t Au, 680 g/t Ag; 19 samples @ 0.6 g/t Au, 480 g/t Ag. On the Fundadora vein: 5 samples @ 6.1 g/t Au, 307 g/t Ag; 12 samples @ 1.2 g/t Au, 254 g/t Ag.
  • Millrock Resources Inc. presented an update in exploration, including information on its three properties in Sonora. The La Navidad project was optioned on June, and immediately entered into a JV with Centerra Gold Inc. Presently underway are soil sampling, geological mapping, induced polarization and magnetic surveys. Also in June El Picacho project was optioned and made a “designated project” on the alliance between Centerra and Millrock. Soil sampling, geological mapping, induced polarization and mag surveys are currently being performed. Los Chinos and Los Cuarenta projects options were terminated by Centerra.

ON MINING

  • United States Antimony Corp. reported major cost reductions at its Mexican antimony smelter, as a result of metallurgical changes while increasing production rates. Production at Wadley, San Luis Potosi, is growing with more miners. USAC intends to use its Los Juarez explosives license at Soyatal, Queretaro, which will save money and time. Guadalupe is undergoing road work to re-establish the production of high-grade concentrates. The application for the cyanide permit for the Los Juarez project was resubmitted to SEMARNAT (EPA equivalent) at the end of July, after one item change requested by the agency.
  • Telson Resources Inc. announced that the first shipment of lead and zinc concentrates processed at the Atocha mill has been delivered to Mercuria Commodities Trading, S.A. de C.V.. As of August 1, 2017, the Company has processed approximately 1600 tonnes of ore through the Atocha toll mill producing approximately 66.1 dry tonnes of lead concentrate and 94.5 dry tonnes of zinc concentrate which have been delivered to Mercuria.
  • Golden Minerals Co. presented financial results for Q2 2017. Approximately $1.7 M revenue was received from the oxide plant lease to Hecla, and costs of $0.5 M to the services provided under the lease, for a net operating margin of $1.1 M. The company spent $0.5 M in exploration related primarily to work at the Santa Maria (Chihuahua), Rodeo (Durango) and other properties, as well as holding costs. Cash and cash equivalents balance of $2.7 M at the end of the period.
  • Torex Gold Resources Inc. reported financial and operational results. At El Limón Guajes mine in Guerrero 74,487 Oz Au were produced, as ramp-up continues, with design throughput achieved in June. Plant throughput was 1.2 M tonnes, or 13,063 tonnes per day (tpd), while mine production was 8.4 M tonnes, or 92,044 tpd. The gold recovery rate was 86% on a 2.37 g/t Au average grade, at cash cost $709 per Oz Au and AISC $991. Cash balance of $77.2 M including restricted cash of $15.7 M at the end of the period.
  • Premier Gold Mines Ltd. announced its operational and financial results for the second quarter of 2017. At Mercedes in Sonora 177.9 K tones were milled (1,954 tpd) @ 4.03 g/t Au, 36 g/t Ag; with recoveries at 94.9% Au, 43% Ag, to produce 21,893 Oz Au, 89.5 K Oz Ag. By-product cash cost per Oz Au was CAD$550 and by-product AISC per Oz Au of CAD$688. Quarter end cash balance of $156.8 M (US$120.9 M).
  • Alio Gold Inc. reported second quarter 2017 results. Production at the San Francisco gold mine was 22,011 ounces during the period, at AISC $954 per Oz Au. The San Francisco mine revitalization plan was initiated and the definitive feasibility study (DFS) after the positive pre-feasibility study (PFS) was released and a CAD$50.4 M bought deal financing was completed. The pre-stripping campaign envisions moving 22 M tonnes of waste from the Main and La Chicharra pits over the next 20 months. Cash and cash equivalents at the end of the period were $35.9 M.
  • Pan American Silver Corp. announced Q2 2017 results, including figures from its operations in Mexico. At Dolores in Chihuahua the construction of the agglomeration plant was completed and development for underground mining advanced, with initial stope ore mining expected to initiate before the end of 2017. At La Colorada mine in Zacatecas production achieved 1,800 tpd rates during the last month of the quarter. At La Colorada 1.73 M Oz Ag, 0.94 K Oz Au were produced at cash cost $3.38 per Ag Oz. At Dolores 1.04 M Oz Ag, 22.44 K Oz Au were produced at cash cost $0.12 and at Alamo Dorado in Sonora 0.26 M Oz Ag, 0.69 K Oz Au were produced at cash cost $11.18. Cash and short-term investments of $198.2 M at the end of the period.
  • Americas Silver Corp. disclosed consolidated financial and operational results for the second quarter of 2017. The figures of its operations in Mexico were informed in a previous release. San Rafael in Sinaloa remains on budget and on time to start production by the end of Q3, 2017. Cash balance at the end of the period was $12.8 M.
  • Primero Mining Corp. reported operating and financial results for the second quarter, 2017, including figures form its Mexican operations. At San Dimas 11,903 Oz Au, 0.97 Oz Ag were produced at cash cost $1,144 per AuEq Oz, and AISC $1,650 per AuEq Oz, with operations being impacted by bad relations with unionized employees. “…the Company believes that labour disruptions may continue to adversely affect the Company’s ability to profitably operate the San Dimas…” and “Primero highlights the significant liquidity risk imposed by the pending RFC maturity date of November 23, 2017, and notes that it may not be able to fully repay its debt obligations…”. Cash stood at $12.1 M and $10.0 M available under its existing revolving credit facility (RFC) at the end of the period, with a $33.5 in VAT and $22.8 M income taxes receivable outstanding.
  • Argonaut Gold Inc. announced its financial and operating results for the second quarter of 2017. The consolidated production was 29,730 AuEq Oz at cash cost $785 and AISC $906 per AuEq ounce. At El Castillo in Durango 2.0 M tonnes of ore @ 0.39 g/t Au and 2.65 M tonnes of waste were moved (51 K tpd) to produce 16,927 Oz Au at cash cost $893 per ounce. At La Colorada in Sonora 1.22 M tonnes of ore @ 0.64 g/t Au and 4.77 M tonnes of waste were moved (66 K tpd) to produce 12,098 Oz Au and 38.2 K Oz Ag at cash cost $590 per AuEq ounce. At San Agustin (10 km from El Castillo) mining commenced during the quarter, leach pad and pond construction was completed and the crushers installed, with ore beginning to be staked on the pad in late June. Construction was 75% complete by the end of July. Cash and cash equivalents stood at $53.8 M at the end of the quarter.

ON FINANCING

  • No relevant news.

ON RESOURCES AND DEVELOPMENT

  • Golden Minerals Co. entered into an agreement to acquire three additional claims at the Santa Maria project in Chihuahua for $0.7 M over four years, with an initial payment of $50 K and $30 K in six months. The targets in these claims are to be tested in an upcoming 2,000 m drill program in the third quarter of 2017, while the environmental study to obtain the permit to perform the 200 tpd underground mining envisaged on the preliminary economic assessment (PEA) has been completed.

ON DEALS AND CORPORATE ISSUES

  • Santacruz Silver Mining Ltd. entered into a definitive agreement to sell 100% interest in the Gavilanes property in Durango to Marlin Gold Mining Ltd. Santacruz is to settle the outstanding balance on some of the claims by making a $500 k payment and issuing 1.25 M Santacruz shares to the property vendor. Gavilanes is a low sulphidation epithermal deposit in the San Dimas mining district with NI-43-101 compliant 6.1 M AgEq indicated ounces (953 K tonnes @ 200 g/t AgEq), and 28.2 M AgEq inferred ounces (5.4 M tonnes @ 163 g/t AgEq).
  • Santacruz Silver Mining Ltd. settled the outstanding balance owing on certain of the claims included in the Gavilanes project (in Sinaloa) by making a cash payment of US$500 K and 1.25 M Santacruz shares.
  • Colibri Resource Corp. completed the acquisition of Canadian Gold Resources Ltd. Colibri acquired all outstanding shares of Canadian Gold for $4 M, paid by way of issuance of 24.2 M shares to the vendor. Colibri now owns 100% interest in Minera Bestep S.A. de C.V., a private Mexican company that holds 100% (no NSR’s) of the Pilar and the Sun properties near Suaqui, in Sonora.
  • McEwen Mining Inc. reported a revised record date for the next semi-annual return of capital instalment of a ½ cent per share which will be distributed to shareholders of record on August 14, 2017. The distribution will be paid on August 17, 2017.

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, vuggy silica fragment within a felsic tuff in Chihuahua. Photo by Jorge Cirett.

Vuggy quartz at Moreno

Highlights on the First Week of August, 2017. Mineral Exploration in Mexico

During the 31st week of the year (July 31st to August 6th, 2017), at least 27 press releases were announced by companies working in Mexico, including nine second quarter reports. ON MEXICO ISSUES, gold and silver production decreased during the first five months in the Bajío region. ON EXPLORATION, in Sonora Evrim acquired the low sulfidation epithermal Sarape project,  Minaurum is to commence drilling at the Alamos project and SilverCrest released high-grade intercepts from drilling at Las Chispas. In Veracruz Almadex released drilling results from El Cobre project. ON MINING, Capstone, Leagold, Excellon, Gold Resource, Alamos Gold, Avino, McEwen Mining, Endeavour Silver, Hecla and First Majestic presented production and/or financial results for the second quarter of 2017. Telson sent some ore from Tahuehueto for processing. Leagold received the environmental permit of the portal and ramp for the Bermejal underground deposit in Guerrero. ON FINANCING, Four companies announced the opening/closing of financing rounds:  Oceanus ($3 M), Westminster ($750 K), Silver Bull (CDN$ 1.46 M) and Avino ($25 M). Coeur is to exchange up to $250 M in notes. Avino extended a concentrate prepayment agreement.  ON RESOURCES AND DEVELOPMENT, Mexican Gold released a maiden resource for Las Minitas, Veracruz, comprising 304 K AuEq Oz M&I and 719 K AuEq Oz Inferred, in underground and open pit constrained gold-copper mineralization. ON DEALS AND CORPORATE ISSUES, Prospero Silver and Exploraciones Altiplano reached an agreement on the Buenavista claims in Durango. Radius Gold completed the sale of the Talcolula property to Fortuna Silver. Golden granted Hecla the right to use Golden’s oxide plant in Durango for two more years.

ON MEXICO ISSUES

  • INEGI (Instituto Nacional de Estadistica y Geografía) informed that mining production decreased in the Bajio region, with 28.2% less silver produced in Guanajuato, 3.3% in San Luis Potosi and 1% in Queretaro, from January to May 2017. On gold, production was reduced by 15.2% in Guanajuato, 28.8% in San Luis Potosi and 7% in Queretaro.

ON EXPLORATION

  • Evrim Resources Corp. has defined two major veins in the recently acquired Sarape project in Sonora. The Sarape vein trends NW and is 6 km long and up to 12 m in width, whereas the Chiltepin vein trends W and is 2.6 km long and up to 3 m in width. The western portion of the veins presents barren chalcedonic white quartz with bladed calcite, while the eastern part presents low-temperature, tan-green quartz consistently assaying 0.1 to 0.36 g/t Au across sampled widths, with individual samples assaying up to 3.6 g/t Au.
  • Minaurum Gold Inc. is to commence a 5,000 m diamond drilling campaign at its Alamos Silver project in Sonora. The drilling will focus on seven major veins identified by Minaurum, three of which were the source of the historic 200 M Oz silver production. The three other veins are in down-dropped blocks and are exposed at a high level. Areas to be tested include La Quintera, Promontorio, Gap and Minas Nuevas.
  • Almadex Minerals Ltd. reported assay results from the last drill hole on the Norte zone at its El Cobre project in Veracruz. Drill intercepts include 276.80 m @ 0.67 g/t Au, 0.23% Cu (including 103.85 m @ 1.33 g/t Au, 0.41% Cu); 94.40 m @ 0.73 g/t Au, 0.25% Cu (including 62.0 m @0.97 g/t Au, 0.31% Cu). The hole intersected multiple zones of intense stockwork veining and potassic alteration.
  • SilverCrest Metals Inc. announced additional Phase II drill results for Las Chispas property in Sonora. The new results indicate continued expansion of unmined high-grade mineralization in the Giovanni and William Tell veins, initial high-grade intercepts in the Varela vein and newly discovered Blanquita vein. The most relevant drill intercepts are: 1.9 m 6 g/t Au, 5,018 g/t Ag (including 0.7 m @ 137.5 g/t Au, 13,560 g/t Ag); 0.4 m @ 3.7 g/t Au, 506 g/t Ag; 0.7 @ 2.0 g/t Au, 255 g/t Ag; 4.1 m @ 1.7 g/t Au, 232 g/t Ag; 1.0 m @ 2.0 g/t Au, 313 g/t Ag; 1.9 m @ 0.4 g/t Au, 428 g/t Ag; 0.5 m @ 3.1 g/t Au, 595 g/t Ag; 1 m @ 1.2 g/t Au, 362 g/t Ag.

ON MINING

  • Telson Resources Inc. reported that 4,600 tonnes of ore have been sent from the Tahuehueto mine in Durango to the Atocha toll mill, where it is to be processed at a 300 tonnes per day (tpd) rate. Underground mining from the Level 10 ore shoot, estimated to contain at least 50 K tonnes.
  • Capstone Mining Corp. announced its financial results for Q2 2017, including figures from its operations in Mexico. At Cozamin in Zacatecas produced 4,106 tonnes of copper at cash cost of $1.19 per Cu pound and all-in cost of $1.73 per Cu pound produced. The precious metal streaming arrangement with Wheaton Precious Metal Corp. expired on April 4th; this is to result in an increase to by-product credits of $0.23 per copper pound.
  • Leagold Mining Corp. received the environmental permit for development of the portal and ramp for the Bermejal Underground deposit at Los Filos mine in Guerrero. Six tunneling contractors have completed site visits. Contractor selection is to be completed in August. The location of the portal is at the northern end of the Bermejal open pit, site that offers a deeper starting point, shortest distance to access an initial test stoping area and commencement of the portal within competent carbonate wallrock. The 5 x 5 m ramp is to extend 1,600 m to the central, high grade portion of the mineralization. Portal preparation is expected to commence in Q3 2017, with access to the first stoping area early in 2018 and completion of the ramp to the Central Sector by Q4 2018.
  • Excellon Resources Inc. reported financial results for the second quarter 2017. Dry mining conditions were achieved at the Platosa mine in Durango. Mine production increased to 215 tpd, with access to high-grade ore. The goal is to further increase production to 300 tpd by year end. The Miguel Auza mill was awarded Certification of Clean Industry, Level 1 from the environmental regulator. Net working capital totaled $4.0 M at the end of June, increasing to $6.1 M to the end of July. During the quarter 10,840 tonnes were produced and 13,877 tonnes processed @ 394 g/t 3.5% Pb, 4.5% Zn, recovering 89.8% Ag, 80.4% Pb, 80.7% Zn to produce 160.8 K Oz Ag, 850 K Lb Pb, 1.1 M Lb Zn.
  • Gold Resource Corp. disclosed production results for Q2 2017. At its Aguila property in Oaxaca 113.8 K tonnes were milled (1,293 tpd) @ 1.82 g/t Au, 118 g/t Ag, 0.33% Cu, 1.4% Pb, 4.3% Zn with recoveries of 85% Au, 92% Ag, 78% Cu, 77% Pb, 85% Zn to produce 5,696 Oz Au, 397.7 K Oz Ag, 294 tonnes Cu, 1,207 tonnes Pb, 4,176 tonnes Zn. Cash and cash equivalents by the end of period stood at $16.41 M.
  • Alamos Gold Inc. reported financial results for the second quarter 2017, including figures from its operations in Mexico. At Mulatos 1.76 M tonnes of ore and 1.37 M tonnes of waste were moved (waste-to-ore ratio 0.78), with 1.65 M tonnes @ 0.78 g/t Au stacked on the heap (51,564 Oz Au contained) and 35.3 K tonnes of high-grade ore @ 10.56 g/t Au milled (11,998 Oz Au contained). Mulatos produced 41,000 Oz Au during the period, with a recovery rate of 65% and cash cost of $735 per Au ounce. The San Carlos underground operation is expected to end its current mineral reserve in the third quarter of 2017. At El Chanate 1.05 M tonnes of ore were mined (12,000 tpd) @ 0.41 g/t Au and 4.69 M tonnes of waste moved (Waste to ore ratio of 4.47) producing 17,600 Oz Au. Production at La Yaqui is expected in the third quarter of 2017.
  • Avino Silver & Gold Mines Ltd. presented the financial results for the second quarter 2017. During the period 386 K Oz Ag, 1,954 Oz Au, and 1.1 M Lb Cu were produced at cash cost $8.90 per AgEq Oz and AISC of $10.42 per AgEq Oz. At the end of the quarter Avino held $5.9 M in cash and short term investments for $7.5 M.
  • McEwen Mining Inc. disclosed financial results for the second quarter 2017, including figures from its operations in Mexico. At El Gallo 9,714 Oz Au, 4,966 Oz Ag were produced at cash cost $706 and AISC $843 AuEq co-product. At the end of the period debt free McEwen had $44 M in cash, investments and precious metals.
  • Endeavour Silver Corp. released Q2 2017 consolidated financial results. 1.14 M Oz Ag, 13,058 Oz Au were produced at cash cost $ 8.36 and AISC $20.46 per Oz Ag net of Au credits. The Bolañitos and El Cubo mines in Guanajuato produced higher tonnes and/or grades, while Guancevi in Durango continues to lag behind. The Calicanto and Veta Grande properties were acquired near El Compas, in Zacatecas. The working capital stood at $75 M at the period’s end.
  • Hecla Mining Co. reported second quarter 2017 results, including figures from its operations in Mexico. At San Sebastian in Durango, 867 K Oz Ag, 6,596 Oz Au were produced at cash cost $(3.31) per AgEq Oz and AISC of $0.06 per AgEq Oz. The mill operated at 423 tpd during the period. The mine is transitioning from open pit to underground mining, which is expected by the end of 2017. “It now appears that sufficient material has been identified underground, in open pits and in stockpiles to extend the life of the project through 2020…” Cash and cash equivalents stand at $202 M at the end of the period.
  • First Majestic Silver Corp. presented its Q2 2017 financial results. During the period First Majestic produced 2.29 M Oz Ag, or 3.89 M Oz AgEq from its six mines in Mexico, at cash cost $7.41 per Ag Oz and AISC $14.58. The company maintains $126.9 M in cash and cash equivalents at the end of the period. Three illegal blockades affected production at La Parrilla (4 days), Santa Elena (2 days) and La Encantada (42 days). The company expects 64,500 m of underground development to be completed during 2017, as well as 145,000 m of exploration drilling.First Majestic Q2 2017 operating cost11

ON FINANCING

  • Oceanus Resources Corp. closed a non-brokered private placement raising $3 M. Oceanus intends to begin drilling the unmined Protectora vein, north of El Tigre mine in Sonora.
  • Avino Silver & Gold Mines Ltd. Extended the concentrates prepayment agreement with Samsung C&T UK Ltd. for one year. According to the new amending agreement Avino will sell silver concentrate on exclusive basis to Samsung until December 31, 2021 (Avino, Durango).
  • Westminster Resources Ltd. has received conditional approval from the TSX for its previously announced non-brokered private placement, and announces the closing of the first tranche of said placement, for gross proceeds of $764 K (El Cobre, Sonora).
  • Silver Bull Resources Inc. completed the second and final tranche of the private placement for aggregate gross proceeds of CDN$250 K. Under the initial tranche of the private placement, which closed on July 10th, CDN$1.46 M was raised (Sierra Mojada, Coahuila).
  • Coeur Mining Inc. offered to exchange up to $250 M aggregate principal amount of its 5.875% senior notes due 2024 (Palmarejo, Chihuahua).
  • Avino Silver & Gold Mines Ltd. is to offer shares in the US up to the aggregate amount of US$25 M (Avino, Durango).

ON RESOURCES AND DEVELOPMENT

  • Mexican Gold Corp. announced an initial mineral resource estimate fir the El Dorado/Juan Bran and Santa Cruz zones at its Las Minas project in Veracruz. The total measured and indicated (M&I) resource of 304 K AuEq Oz is contained within 4.97 M tonnes grading 1.90 g/t AuEq. The total inferred resource of 719 K AuEq Oz is contained within 10.3 M tonnes grading 2.17 g/t AuEq. The El Dorado/Juan Bran zone occurs as a sub-horizontal body measuring approximately 650 m N-S by 250 m E-W, varying in thickness from 6.0 to 28.0 m. The Santa Cruz zone is comprised of a series of high-grade stacked lenses of skarn mineralization dipping 50 degrees to the west, measuring about 220 m x 100 m. The initial mineral resource estimate is based on 140 diamond drill holes totaling 19,636 m at El Dorado/Juan Bran and Santa Cruz zones. “The Mineral Resource was estimated using 2.0 metre composites of assay values with “zero grade” inserted into intervals that were not sampled.”Table Las Minas1

ON DEALS AND CORPORATE ISSUES

  • Prospero Silver Corp. entered into an option to own agreement with Exploraciones del Altiplano, S.A. de C.V. to earn a 100% right, title and interest in and to Altiplano’s Buenavista claims in Durango, subject to a 2% NSR. The option agreement constitutes a related party transaction. To earn its 100% interest in the Property, Prospero must issue a total of 750 K common shares to Altiplano on a scheduled calendar over 48 months.
  • Radius Gold Inc. completed the sale of its Talcolula property to Fortuna Silver Mines In. On closing Radius received US$150K cash and 239 K common shares of Fortuna, keeping a 2% NSR royalty. Fortuna retains the right to purchase one-half of the royalty by paying Radius US$1.5 M.
  • Golden Minerals Co. has granted Hecla Mining Co. an option to secure the use of Golden’s oxide plant in Durango fro and additional two years for US$2 M.

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, gold grains on a “tentadura” or ore assaying in a cow’s horn in Chihuahua. Photo by Jorge Cirett.

Tentadura from the El Molino zone

 

Highlights on the Third Week of July, 2017. Mineral Exploration in Mexico

During the 29th week of the year (July 17th to July 23rd, 2017), with the reporting of second quarter reports, at least 21 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora Azure informed of exploration activities by Teck on the Alacrán project, and San Marco Resources announced the discovery of an intrusive breccia on its Chunibas property. In Durango Southern Silver disclosed exploration efforts on the recently acquired Biznaga and Lencho claims. ON MINING, Leagold, Sierra Metals, Premier Gold, Gold Resource and Excellon presented production results for the second quarter of 2017. Telson initiated servicing of milling and mining equipment at Campo Morado.  ON FINANCING, Alio Gold completed a bought deal offer for C$50.4 M; Southern Silver extended the closing date of the second tranche of financing; Telson resources closed the final tranche of the private placement, paying $700 K to Nyrstar; Monarca Minerals closed the second tranche of financing for $434 K; Premier Gold was granted permission to repurchase up to 19.6 M of its issued shares. ON RESOURCES AND DEVELOPMENT, Americas Silver updated development efforts on San Rafael; Almaden reported further high grade drilling results from its Tuligtic project; Kootenay reported a new target at La Cigarra; Mx Gold informed of advance on the Magistral project. ON DEALS AND CORPORATE ISSUES, Evrim signed a two year exploration alliance with Newmont; Red Tiger was reclassified as Tier 2 in the TSX.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Southern Silver Exploration Corp. informed on exploration efforts for epithermal vein systems on the recently acquired Biznagas and Los Lencho claims in Durango, adjacent to its Cerro Las Minitas property (Skarn/CRD mineralization). Multiple float samples returned up to 1.3 g/t Au, 57 g/t Ag, 1,155 ppm As, 777 ppm Sb, 46 ppm Hg. Interesting results include a four square km Ag-As-Au-Pb-Zn anomaly in the middle of the Biznagas claim and a four km long Ag-Au-As-Hg anomaly. Over 750 samples have been collected, mostly of quartz (locally bearing black bands of fine grained sulfides) and rhyolite float, with results received for 415 of the samples. Drill targeting is scheduled for the Fall of 2017.
  • Azure Minerals Ltd. informed on the advance that Teck Resources Ltd. has achieved during the Q2 2017 on the Alacran project in Sonora, on which Teck is earning an initial 51% interest by spending US$10M by the end of 2020. Exploration activities include geochemical, hyperspectral and geochronological studies, geological mapping, surface sampling and  geophysical surveys, prior to drill-testing the identified targets by the third quarter.
  • San Marco Resources Inc. increased from four to six holes the HQ core drilling program at its Chunibas project in Sonora, after the discovery of a new multi-lithic and highly altered intrusive breccia associated to the mineralization. The most interesting intervals are 39.0 m @ 0.67 g/t Au (including 20 m @ 1.05 g/t Au); 21 m @ 0.58 g/t Au (the hole ended with 1.2 m @ 2.42 g/t Au); 3.3 m @ 5.05 g/t Au (a separate interval at the end of the hole: 2.2 m @ 1.05 g/t Au). The mineralization style being tested was on shear zones and wall rock dissemination, the mineralized breccia changes the scope of future drilling. Assays are pending for the last three holes.

ON MINING

  • Leagold Mining Corp. reported second quarter 2017 production results at Los Filos mine in Guerrero. The mine produced 46,098 Oz Au, and the company ended the period with a cash balance of $65 M and operations being cash flow positive. An agglomeration drum is being reinstalled and an overland conveyor extended as part of an optimization plan. The Bermejal underground expansion project is advancing with 10 drill rigs on the 56,000 m infill and step-out program. A new processing facility is being evaluated for the higher grade underground ore.
  • Sierra Metals Inc. announced 2Q 2017 production results, including figures from its Cusi and Bolivar mines in Chihuahua. At Bolivar 192,937 tonnes were processed at 2,205 tpd (tonnes per day) @ 0.97% Cu, 15 g/t Ag, 0.17 g/t Au, with 76% Cu, 75.2% Ag, 58.3% Au recoveries, to produce 3.1 M Lb Cu, 73 K Oz Ag, 620 Oz Au. At Cusi 23,956 tonnes were processed (274 tpd) @ 189 g/t Ag, 0.27 g/t Au, 1.1% Pb, 1.1% Zn, with 65.4% Ag, 60.7% Au, 78.0% Pb, 45.8% Zn recoveries, to produce 95 K Oz Ag, 126 Oz Au, 457 K Lb Pb, 262 K Lb Zn.
  • Premier Gold Mines Ltd. presented second quarter 2017 production results from its Mercedes mine in Sonora. During the period 21,893 Oz Au, 89,474 Oz Ag were produced.
  • Gold Resource Corp. reported preliminary second quarter 2017 production results from its Aguila project in Oaxaca. During the period 5,696 Oz Au, 397.7 K Oz Ag, 294 tonnes Cu, 1,207 tonnes Pb, 4,176 tonnes Zn were produced.
  • Excellon Resources Inc. released second quarter 2017 production results from the Platosa mine in Durango. At the site 10,840 tonnes were mined, 13,877 tonnes milled @ 394 g/t Ag, 3.5% Pb, 4.5% Zn, recovering 89.8% Ag, 80.4% Pb, 80.7% Zn to produce 160,820 Oz Ag, 850.1 K Lb Pb, 1.11 M Lb Zn. With the dry mining conditions achieved (see last week Highlights edition) higher grade zones can be now mined at greater rates.
  • Telson Resources Inc. has initiated hiring and training of personnel whom are currently servicing all milling and mining equipment located at the mine site. Telson is planning to restart mining employing block caving versus Nyrstar’s room and pillar mining methods, to potentially reduce mining costs. If offtake funding is achieved successfully the company hopes to initiate mining at Campo Morado within three months. During 2014 Campo Morado processed 657 K tonnes of ore @ 1.2 g/t Au, 115.7 g/t Ag, 4.6% Zn, 1.2% Cu, 0.9% Pb.

ON FINANCING

  • Southern Silver Corp. extended the closing date for its brokered private placement to August 16th, 2017. The first tranche was closed on June 13th for a total of $2.55 M (Cerro Las Minitas, Durango).
  • Alio Gold Inc. completed the previously announced bought deal offering for aggregate gross proceeds of C$50.39 M (San Francisco, Sonora).
  • Telson Resources Inc. closed the final tranche of the private placement previously announced, issuing 1.732 M shares at 55 cents per share, and paid an additional US$700 K to Nyrstar Mining. The funding was received from Estratégica Corporativa en Finanzas, a related party of Telson. The related party is a significant shareholder with a control position in the Company (Campo Morado, Guerrero).
  • Monarca Minerals Inc. completed the second tranche of its previously announced non-brokered private placement for gross proceeds of $434 K, and aggregate gross proceeds of $2.15 M (Tejamen, Durango).
  • Premier Gold Mines Ltd. received approval of the Toronto Stock Exchange (TSX) for a normal course issuer bid to purchase up to 19.6 M of its issued and outstanding common shares (Mercedes, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Americas Silver Corp. provided an update on the San Rafael project in Sinaloa. At the end of the second quarter approximately US$10.5 M of a US$18 M budget have been spent. The main ramp and a secondary ramp continue its development; the secondary ramp is expected to allow mining to begin by early August. Mill modifications are progressing and commissioning of the new equipment is set for the second half of August. In the second quarter 2017 a 2,700 m 8-hole definition drill campaign was completed over the Zone 120 area. Presently four more holes are testing the connection with El Cajón mine. Current production continues primarily from the Nuestra Señora mine. El Cajón stockpiles are available until San Rafael production commences at the end of the quarter.
  • Almaden Minerals Ltd. reported more drilling results from the exploration and development program at its Tuligtic project in Puebla. Relevant intercepts comprise 18.25 m @ 0.69 g/t Au, 263 g/t Ag; 26 m @ 0.19 g/t Au, 346 g/t Ag; 21.0 m @ 1.57 g/t Au, 49 g/t Ag; 11.0 m @ 1.85 g/t Au, 106 g/t Ag; 23.5 m @ 0.26 g/t Au, 66 g/t Ag; 19.25 m @ 1.05 g/t Au, 73 g/t Ag.
  • Kootenay Silver Inc. announced that detailed sampling and reconnaissance work identified a drill target within the La Navidad zone at its La Cigarra property in Chihuahua. The new zone measures up to 1,000 m long by 300 m wide, and is 500 m from the San Gregorio zone, which hold 60% of the current resource at La Cigarra.
  • Mx Gold Corp. announced that on its Joint Venture with GracePoint Mining Corp. a subsidiary or Firma Holdings Corp. the Magistral project is progressing on schedule. “The project includes a fully permitted 500 TPD Dynamic Cyanide counter current system plant. Construction of the plant was completed in 2013, for approximately $4.5 million. There is a current build out, underway, to bring the plant to 1,000 tonnes per day capacity.” The project includes the right to process 1.2 M tonnes of tailings grading 2.06 g/t Au.
  • Consolidated Zinc Ltd. released results from the infill drilling focused on the increase of resources on the Tres Amigos area of its Plomosas property in Chihuahua. Best results include 1.75 m @ 9.4% Zn, 1.7% Pb, 9 g/t Ag; 0.95 m @ 10.9% Zn, 6.7% Pb, 23 g/t Ag; 0.55 m @ 31.2 % Zn, 0.2% Pb, 9 g/t Ag. Consolidated is to drill additional holes aiming to include further mineralization in an upcoming JORC resource upgrade.

ON DEALS AND CORPORATE ISSUES

  • Evrim Resources Corp. signed a two-year Exploration Alliance with Newmont Mining Corp. The alliance is to focus in generating greenfield exploration in terranes favorable for world-class gold orebodies. Newmont is to have the right to designate one or more projects for option by making certain cash payments to Evrim and solely fund the exploration on the project for up to 10 years, or until a NI 43-101 compliant pre-feasibility study on a greater than 2 M Oz gold resource, point at which Newmont will have 80% interest in the project. Evrim will be the operator for the initial US$5 M in exploration expenditures.
  • Red Tiger Mining Inc. continues to produce copper cathodes from the residual leaching of its leach pad, having ceased mining operations at the Luz del Cobre mine in Sonora on December of 2016. Red Tiger has been unable to file its annual consolidated financial statements and Management Discussion & Analysis (“MD&A”) for 2016. The company has been reclassified as Tier 2 by the TSX Venture Exchange.

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, strong goethite and hematite staining on silicified sandstone in eastern Chihuahua. Photo by Jorge Cirett.

Julio 2014 204

Premier Announces Normal Course Issuer Bid

https://www.premiergoldmines.com/news/press-releases/premier-announces-normal-course-issuer-bid

PREMIER GOLD MINES LIMITED (“Premier” or the “Company”) (TSX:PG) announced today that it has received the approval of the Toronto Stock Exchange (the “TSX”) for a normal course issuer bid (the “Bid”) to purchase up to 19,599,646 of its issued and outstanding common shares (the “Common Shares”).

Purchases under the Bid may commence on July 25, 2017 and will terminate on July 24, 2018, or on such earlier date as the Bid is complete. Purchases of Common Shares will be made through the facilities of the TSX in accordance with its rules. Purchases under the Bid may also be made through alternative Canadian trading systems. The average daily trading volume of the Common Shares for the previous six calendar months (“ADTV”) was 1,038,808 Common Shares. Subject to the TSX’s block purchase exception, on any trading day, purchases under the Bid will not exceed 259,702 Common Shares (25% of the ADTV). The price that the Company will pay for any Common Shares purchased under the Bid will be the prevailing market price at the time of purchase. Any Common Shares purchased by the Company will be cancelled.

Red Tiger Provides Operational Update; Announces Reclassification to TSXV Tier 2

http://www.marketwatch.com/story/red-tiger-provides-operational-update-announces-reclassification-to-tsxv-tier-2-2017-07-19

Jul 19, 2017 (TheNewswire.ca via COMTEX) — (via TheNewswire)

Toronto, Ontario / TheNewswire / July 19, 2017; Red Tiger Mining Inc., (RMN), (the “Company” or “Red Tiger”) announces that it currently continues to produce copper cathodes from the residual leaching of copper inventory on its leach pad. In December of last year, the Company ceased mining operations at the Luz del Cobre copper mine as the tonnage of soluble copper being mined had reached uneconomic levels for continued production.

MEXICAN GOLD ANNOUNCES SIGNING OF CONTRACT FOR GROUND MAGNETIC SURVEY AT LAS MINAS AND ISSUANCE OF BONUS SHARES

http://www.mexicangold.ca/_resources/news/nr-2017-07-12.pdf

MEXICAN GOLD CORP. (the “Company” or “Mexican Gold”) (TSX-V: MEX) is pleased to announce that Geofisica TMC SA de CV has been engaged to complete ground magnetic survey at the Cinco Senores mineralized zone at Las Minas.
The ground magnetic geophysical survey will target potential extensions to the high-grade intercept in step-out hole LM-17-CS-04, which intersected massive chalcopyrite grading 10.8 g/t gold, 41.7 g/t silver and 2.8% copper gold equivalent over 2.0 metres – see press release dated May 15, 2017. The strong chalcopyrite mineralized magnetite intercept was located approximately 100 metres west of mineralized intercepts outlined by earlier drilling and at the same elevation as the projected El Dorado /
Juan Bran skarn zone – see cross section in Figure 1. When combined with earlier drilling and sampling results, step-out hole LM-17-CS-04 is believed to be indicative of a potential El Dorado / Juan Bran type zone at Cinco Senores. The survey will also cover historical mine workings with associated magnetite mineralization. The high–grade values at Las Minas are associated with skarn-type alteration with high magnetite content.

Leagold Receives Second Mexican Anti-Trust Approval To Finalize Los Filos Acquisition Financing

http://www.leagold.com/assets/docs/nr/2017-07-12-nr-lmc.pdf

Vancouver, July 12, 2017 – Leagold Mining Corporation (TSX-V: LMC) (“Leagold” or the
“Company”) is pleased to announce it has received Mexican anti-trust commission (“COFECE”) approval with respect to the previously announced US$29 million subscription receipt financing provided by a fund managed by Orion Resource Partners (“Orion”) in connection with the Company’s acquisition of the Los Filos Mine from Goldcorp Inc. on April 7, 2017. To accommodate COFECE requirements, when acquiring the Los Filos Mine, Orion’s US$50 million equity investment in Leagold on April 7, 2017 was split into US$21 million in common shares of Leagold and US$29 million in subscription receipts, with each subscription receipt automatically converting into one common share on receipt of the COFECE approval, without
payment of additional consideration. In connection with the acquisition of the Los Filos Mine, Goldcorp Inc. agreed to defer US$29 million of the US$279 million cash portion of the purchase price by accepting a short-term promissory note from Leagold.