Alien Metals Ltd.- M&A update on Mexico Silver Projects and award of new licence adjacent to world class Citronen Zinc-Lead deposit, Greenland

26102020 Greenland & IBK RNS Final

Alien Metals Ltd (LSE AIM:UFO) (Alien Metals or the Company), a minerals exploration and development company, is pleased to advise that it has been successfully granted a 208 km2 exploration license in northern Greenland, surrounding the world class Citronen zinc-lead project owned by Ironbark Zinc Limited (ASX:IBG) (Ironbark), Licence number 2020-44.

Aztec Receives $497,000 from Warrant Exercise

Aztec Minerals Corp. – News

Vancouver, Canada – October 26, 2020 – Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) announces that it has received an aggregate $497,000 from the exercise of share purchase warrants.  A total of 1,986,250 warrants were exercised during the past 2 weeks leading up to the warrant expiry date of October 21, 2020.  Proceeds from the warrant exercise will be added to Aztec’s general working capital.

Santacruz Silver Produces 977,679 Silver Equivalent Ounces in the Third Quarter

2020-10-26-scz-nr-h9t6yr

Vancouver, British Columbia–(Newsfile Corp. – October 26, 2020) – Santacruz Silver Mining Ltd. (TSXV: SCZ) (the “Company” or “Santacruz”) is pleased to announce that total production in the third quarter of 2020 reached 977,679 silver equivalent ounces (“AgEq”), representing a 38% increase from Q2 2020 as operations returned to normal. During Q2 2020, Mexico’s Ministry of Health issued a federal decree requiring all non-essential businesses, including mining, to temporarily suspend activities for 42 days in response to the global pandemic.

Prime Mining Reports Results of Guadalupe East Sampling at Los Reyes Continue to Demonstrate Resource Expansion Potential

PrimeMining_26102020

VANCOUVER, British Columbia, Oct. 26, 2020 (GLOBE NEWSWIRE) — Prime Mining Corp. (the “Company”) (TSX.V: PRYM) (OTCQB: PRMNF) (Frankfurt: A2PRDW) reported today that results from the Company’s ongoing surface and subsurface sampling exploration program on the Los Reyes project continue to show resource expansion potential, this time in the Guadalupe East deposit. Guadalupe East is one of eight deposits that make up Los Reyes project resource. Rock chip sampling inside the old, existing mine adit GE-Adit 17 returned 2.21 grams per tonne (“gpt”) gold (“Au”) and 95 gpt silver (“Ag”) over 46 metres (“m”), including 29.0 gpt Au and 226 gpt Ag over 2.0 m. Sampling in the adit, which lies outside of the current Guadalupe East resource boundary, was on 2 metre intervals across the adit roof (see Table 1). The true vein width is not known at this time.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of October, 2020.

Mesothermal quartz

By Miguel A Heredia

During the forty three week of the year (October 19th to October 25th, 2020), at least 24 press releases were announced by companies working in Mexico and 1 news published by the media, with eight informing on exploration results, seven disclosing deals and corporate issues, four announcing financial rounds, four reporting on resources and development of their mine operations, one commenting on Mexican issues, and one communicating production and financial results. ON MEXICO ISSUES, Graciela Márquez, the Minister of Economy, lowered the high expectations about the production of lithium in Mexico.  ON EXPLORATION, In Chihuahua, Radius has expanded its Plata Verde project by acquiring the right to purchase the 500 Ha Don Jose property and Mammoth provided an update on activities related with its Tenoriba project. In Sinaloa, Brigadier reported drill results from its Picachos project. In Durango, Canasil released results from two additional diamond holes collared at its Nora project, Orex announced preparations to conduct first phase exploration work on its newly restructured Sandra project, and Mithril provided an update on activities developed during Q3, 2020 at its Copalquin project. In Zacatecas, Advance commenced a follow-up drilling at its Tabasquena project. In Jalisco, Candente conducted a due diligence site visit to the Cocula project. ON MINING, Mag Silver and Fresnillo plc reported the first production from its JV Juanicipio project in Zacatecas. ON FINANCING, Almadex closed its previously announced private placement for gross proceeds of $1.35M (El Chato, Puebla). Gold79 Mines announced a non-brokered private placement to raise gross proceeds of up to $2M (Taviche project, Oaxaca). Metalla exercised its option to acquire from Alamos Gold its 1% NSR on the La Fortuna project in Durango by an aggregate consideration of $1M. Mithril raised A$3.5M from a share placement and reported that has cash reserves of A$3.1M as at 30 September, 2020 (Copalquin project, Durango). ON RESOURCES AND DEVELOPMENT, GoGold provided an update on the progress of the PEA at its Los Ricos project in Jalisco. Sierra Metals announced results of a PEA from its Bolivar mine in Chihuahua. Mexus announced that it has completed the removal of 2/3rd’s of the heap leach pad at its Santa Elena mine located in Sonora. Minera Alamos provided an update on development plans for its Cerro de Oro property in Zacatecas.  ON DEALS AND CORPORATE ISSUES, Aloro entered into an option agreement with Alamos Gold on Los Venados project in Sonora. Alien executed an earn-in agreement with Capstone over its Donovan 2 Copper-Gold project in Zacatecas.  Redstar announced change of name to Heliostar Metals (Cumaro project, Sonora). In August 2020, Americas Gold and Silver announced that the illegal blockade on its Cosalá mine in Sinaloa had been resolved allowing to re-start the operations, however, the company does not believe there are conditions currently present to invest the required capital to re-start the Cosalá operations. One World Lithium signed a six-month service agreement with Cognitive Corporate Services to receive advice in areas including corporate strategy, finance, capital markets, and marketing (Salar del Diablo project, Baja California). Silver Dollar retained Tetra Tech as technical adviser for its La Joya project in Durango. Santacruz was recognized by the initiative for Responsible Mining Assurance (IRMA) for its achievement in transparency (Zimapan mine, Hidalgo).  ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • Graciela Márquez, the Minister of Economy, lowered the high expectations about the production of lithium in Mexico. “Mexico does not have the largest lithium deposit,” said the official, when appearing in the Senate. Márquez explained that Mexico does have ample reserves of this mineral, but with a very low content, which requires a very expensive metallurgical process. The probable reserves of the Bacanora Lithium deposit in Sonora are estimated at 243.8M tonnes and lithium carbonate, the mineral from which the metal is extracted, amounts to 4.5M tonnes. Márquez’s statements were in response to a letter read at the appearance by Senator Alejandro Armenta Mier and written by Senator Casimiro Méndez Ortiz (absent), in which he proposed to nationalize lithium in Mexico and create a parastatal company called Litiomex.

ON EXPLORATION

  • Radius Gold Inc., has expanded its Plata Verde project in Chihuahua by acquiring the right to purchase the 500 Ha Don Jose property. Radius plans to conduct prospecting, mapping, and sampling of the new Don Jose property as well as perform a geophysical program to identify feeder system and expansion of the known mineralization identified to date at its Plata Verde project.  The company also announced that a local landowner has built a new access road that reaches the project, allowing year round access facilitating exploration and future drilling programs.
  • Mammoth Resources Corp., provided an update on activities related with its Tenoriba project in Chihuahua. After knowing that Centerra was ceasing exploration activities in Mexico, Mammoth personnel has been active transferring project information produced by Centerra during the 21 months they operated the option agreement. Additionally, Mammoth has conducted meetings with the community members to notify them that now they will be managing the agreements and activities at Tenoriba. The agreement reached by Centerra with the community has to be transferred to Mammoth and then starts discussions to extend it for a two-year period thereby facilitating surface access for a significant future drill program. 
  • Brigadier Gold Limited, reported drill results from the first diamond hole of a 5,000m, 40 -holes program at its Picachos project. Hole BRG-001 was collared at the El Carrito Adit to intercept the San Agustin Vein. The hole encountered 2.59 g/t Au and 22 g/t Ag over a width of 2.5m. A second hole is ongoing to intercept the San Agustin Vein 25m below BRG-001.
  • Canasil Resources Inc., released results from two additional diamond holes collared at its Nora project in Durango. Hole NRC-20-03 encountered 8.69 g/t Au, 116 g/t Ag, 0.2% Cu, 0.1% Pb, and 0.1% Zn (813 g/t AgEq) over a true width (TW) of 0.36m. Hole NRC-20-04 intercepted 3.71 g/t Au, 489 g/t Ag, 0.53% Cu, 0.1% Pb, and 0.2% Zn (798 g/t AgEq) over a TW of 3.05m, including 4.29 g/t Au, 690 g/t Ag, 0.69% Cu, 0.4% Pb, and 0.5% Zn (1,053 g/t AgEq) over a TW of 0.39m, including 6.27 g/t Au, 1,925 g/t Ag, 0.6% Cu, 0.2% Pb, and 0.2% Zn (2,425 g/t AgEq) over a TW of 0.41m.
  • Orex Minerals Inc., announced preparations to conduct first phase exploration work on its newly restructured Sandra project. The newly restructured Sandra project is the result of a consolidation of two groups of adjacent mineral claims: 6,123 Ha formerly under option by Orex that hosts the Boleras silver deposit with inferred-category Ag mineral resource estimated, and 635 Ha held by Pan American centered upon a conspicuous rusty-red hill to host Au-Ag-Cu occurrences in several showings. Ownership and funding of the joint venture company will be set at 60% Pan American Silver, and 40% Orex Minerals.
  • Mithril Resources Ltd., provided an update on activities developed during Q3, 2020 at its Copalquin project. Mithril has completed 2,100m of drilling at La Soledad target, 2,300m at El Refugio target, and is currently drilling El Cometa target which is expected to be completed in October 2020.  Significant drill intercepts were encountered at the La Soledad target in hole CDH-001 with 34.72 g/t Au, and 3,129 g/t Ag over 3m, including 88.4 g/t Au and 6,750 g/t Ag over a 1m; hole CDH-002 with 5.64 g/t Au and 325 g/t Ag over 4.55m, including 9.82 g/t Au and 574 g/t Ag over 1.5m, and another interval with 9.27 g/t Au and 825 g/t Ag over 0.5m; and hole CDH-014 with 6.74 g/t Au and 158 g/t Ag over 7.5m, including 11.52 g/t Au and 244 g/t Ag over 3.45m. Mithril has expanded its drilling program to 7,000m to test The Cometa, Reyes, Constancia and Apolonia targets.
  • Advance Gold Corp., commenced a follow-up drilling on the mineralized vein intersection from hole AGT-15 that returned 664 g/t Ag over 2.15m, at its Tabasqueña project in Zacatecas. The company has planned two holes more on this vein, Additional core from hole AGT-15 has been sent to the lab for assaying.
  • Candente Gold Corp., conducted a due diligence site visit to the Cocula project in Jalisco, and has concluded that there is potential for  conceptual exploration targets including a lower grade bulk tonnage, potentially leachable deposit as well as a higher grade/lower tonnage core of the deposit. Targets at the Cocula project have potential for 500K to 6M tonnes grading from 0.5 g/t Au to 2.75 g/t Au containing between 50K and 100K Oz Au with secondary credits from Ag, Pb, Zn, and Cu. Samples have also been collected for preliminary metallurgical testing to assist the Company in identifying potential opportunities for a leaching and/or a flotation operation.

ON MINING

  • Mag Silver Corp., and Fresnillo plc, reported the first production from its JV Juanicipio project in Zacatecas. During the quarter, a total of 42,476 tonnes were processed to produce 610 Oz Au, 394K Oz Ag, 304K Lb Pb, and 383.6K Lb Zn of which 288 Oz Au, 173.4K Oz Ag, 133.8K Lb Pb, and 168.9K Lb Zn are attributable to Mag Silver.

ON FINANCING

  • Almadex Minerals Ltd., closed its previously announced private placement for gross proceeds of $1.35M. The company plans to use the net proceeds for general corporate purposes (El Chato, Puebla).
  • Gold79 Mines Ltd., announced the initiation of a non-brokered private placement to raise gross proceeds of up to $2M (Taviche project, Oaxaca). 
  • Metalla Royalty & Streaming Ltd., exercised its option to acquire from Alamos Gold its 1% NSR on the La Fortuna project in Durango by an aggregate consideration of $1M. Metalla acquired the option by making a deposit of $400K in shares and complete it by paying an additional of $600K in cash, which has now been paid in full satisfaction of the transaction price.
  • Mithril Resources Ltd., raised A$3.5M from a share placement and reported that has cash reserves of A$3.1M as at 30 September, 2020 (Copalquin project, Durango).

ON RESOURCES AND DEVELOPMENT

  • GoGold Resources Inc., provided an update on the progress of the PEA at its Los Ricos project in Jalisco. The company completed metallurgical extraction test work on the Los Ricos South core samples. Two composites of the material were prepared representing six samples each from across the deposit and at difference grade ranges. Testing on the composites involved bottle rolls at different grind sizes, cyanide strengths and leach times.  The test program concluded that 93% of gold and 88% of silver can   be recovered over a 72 hour conventional cyanide milling process at a typical mill grind which produces a saleable precious metals doré bar. In addition, the company is completing a series of communition tests to determine rock hardness for grinding and crushing on the mineralized core. GoGold expects to complete the PEA before the end of the year.
  • Sierra Metals Inc., announced results of a PEA from its Bolivar mine in Chihuahua. Highlights include an after tax NPV of USD $283M at an 8% discount rate; incremental benefit of increasing the production to 10,000 TPD from 5,000 TPD is estimated to have an after tax NVP (@8%)of USD $57.4M at a IRR of 27.9%; net after-tax cash flow of USD $521M; Life of Mine & Sustaining Capital Cost of USD $317M; Mine Life of 14 years based on existing Mineral Resource Estimate; and Life of Mine Copper Payable Production of 583 M Lb.
  • Mexus Gold US announced that it has completed the removal of 2/3rd’s of the heap leach pad at its Santa Elena mine located in Sonora. The company is stock piling quartz mineralized material with an average grade of 4.2 g/t Au which is ready to be crushed and placed on the pad. Recovery of gold from the new heap leach pad is expected by December 1st, 2020.
  • Minera Alamos Inc., provided an update on development plans for its Cerro de Oro property in Zacatecas.  The company has completed an internal evaluation of the historical information generated at the property and expects to finalize a NI 43-101 resource estimate in the coming weeks. Minera Alamos is currently working on different fronts such as designing a drill program focused on zones of potential resource expansion, as well as to confirm the suitability of proposed locations for heap leach pads and pods; completing a new detail topographic survey that covers the core claims and surrounding areas considered for both resource expansion and construction of heap leach gold recovery facilities; and conducting a hydrological survey to prioritize locations for process water access. Additionally, some metallurgical test work carried out by the company has demonstrated the amenability of oxide mineralization to gold recovery via cyanidation and have found potential for recovery from the transition/sulphide mineralization. Minera Alamos also is looking to extend the surface access agreement and to upgrade existing agreement for commercial mining production.

ON DEALS AND CORPORATE ISSUES

  • Aloro Mining Corp., entered into an option agreement with Alamos Gold Inc, on Los Venados project in Sonora. Alamos can earn 70% interest in the Los Venados project by incurring an aggregate of USD $5M in exploration expenditures and making certain cash payments over the course of three years in the two mining concessions that comprise the Los Venados project. The schedule for the exploration expenditures is as follow: USD $500K on or before the first anniversary, USD $1.5M on or before the second anniversary, and USD $3M on or before the third anniversary. Alamos also has to make cash payments as follow: USD $50K upon entry into the agreement, USD $125K on or before the first anniversary, USD $150K on or before the second anniversary. In addition, Alamos has to make cash payments to the underlying optionor to match Aloro´s payments obligations as follow: CAD $20K + VAT upon entry into the agreement, and CAD $60K +VAT on or before October 6, 2021. Once Alamos has acquired 70% interest, one of the concessions (Los Venados 1) will be subject in to a 2% NSR in favor of Aloro, of which 1% can be repurchased for USD $1.5M.
  • Alien Metals Ltd., and Capstone Mining Corp., executed an earn-in agreement over the Donovan 2 Copper-Gold property in Zacatecas. Capstone could acquire up to 80% interest in Donovan 2 by sole funding the project up to completion of a PFS. Capstone  can earn an initial 65% by making a USD $290K in cash payment over 3 years and spending USD $3.6M in valid exploration over 3 years (including USD $150K being incurred by December 31, 2020). Capstone can increase their interest from 65% to 75% by making a further cash payment of USD $200K and funding the cost associated with a PEA. Following the PEA, if Alien elects not to contribute pro-rata to its 25% interest, Capstone could to sole-fund the cost of a PFS  to earn an additional 5% bringing their holding to 80% and Alien 20%.Thereafter, each party will fund their pro-rata interest in the Project or dilute according to industry standard mechanisms. In the event Alien dilutes to below 5%, it’s interest will convert to a 2% NSR.
  • Redstar Gold Corp., announced change of name to Heliostar Metals Ltd. Name change and share consolidation will take effect on Wednesday October 21, 2020 and will start trading on the TSX Venture Exchange under the symbol HSTR.V. (Cumaro, Lola and Oso Negro projects, Sonora).
  • Americas Gold and Silver Corporation announced in August 2020, that the illegal blockade on its Cosalá mine in Sinaloa had been resolved and their employees were expected to vote in September 2020 for new Union representation, however, there were a number of irregularities, indicating there could no be a fully democratic vote. The company does not believe there are conditions currently present to invest the required capital to re-start the Cosalá operations. The company remains hopeful that a resolution based on the rule of law free from threats and intimidation can be achieved so that operations can re-commence in the near term.
  • One World Lithium Inc., signed a six-month service agreement with Cognitive Corporate Services to receive advice in areas including corporate strategy, finance, capital markets, and marketing. Under the terms of the agreement, Cognitive will be paid a monthly fee and has been granted an option to purchase up to 800K common shares of the company at an exercise price of $0.075 per common share. (Salar Del Diablo project, Baja California).
  • Silver Dollar Resources Inc., retained Tetra Tech Inc., as technical adviser to work in guiding future exploration work at its La Joya project in Durango.
  • Santacruz Silver Mining Ltd., was recognized by the initiative for Responsible Mining Assurance (IRMA) for its achievement in transparency. Transparency is the first of four levels of IRMA’s social and environmental performance system.  (Zimapan mine, Hidalgo). 

ON SOCIAL RESPONSIBILITY

  • No relevant news.

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

On the picture above, a mesothermal quartz structure from an orogenic gold system in a prospect in Sinaloa, Mexico.  Photo by Miguel A Heredia.

Capstone Files Technical Report with Updated Reserves for Cozamin

Cozamin-NI43-101-Filings-Oct2020

Vancouver, British Columbia – Capstone Mining Corp. (“Capstone” or the “Company”) (TSX:CS) has today filed on SEDAR a National Instrument 43-101 (“NI 43-101”) compliant technical reports titled “NI 43-101 Technical Report on the Cozamin Mine, Zacatecas, Mexico” for the updated Proven and Probable Mineral Reserves and
positive results announced on September 9, 2020.

METALLA ACQUIRES ROYALTY ON MINERA ALAMOS’ LA FORTUNA PROJECT

MTA-NR-re-La-Fortuna-Option-Final-Oct-22-2020

Vancouver, British Columbia: Metalla Royalty & Streaming Ltd. (“Metalla” or the “Company”) (NYSE American: MTA) (TSXV: MTA) is pleased to announce that it has exercised its option with Alamos Gold Corp. (“Alamos Gold”) (NYSE: AGI) (TSX: AGI) to acquire from Alamos Gold its 1.0% net smelter return royalty (the “Royalty”) on the La Fortuna project in Durango State, Mexico (“La Fortuna”) owned by Minera Alamos Inc. (“Minera Alamos”) (TSXV: MAI) for aggregate consideration of $1,000,000 (the “Transaction Price”).

Earn-in Agreement on Donovan 2 Copper Gold Project Executed between Capstone Mining Corp and Alien Metals

22102020 UFO – Capstone Earn-in Agreement RNS Final

Alien Metals Ltd (Alien Metals or the Company), a minerals exploration and development company, is pleased to announce that it has executed an Earn-in Agreement (“Agreement”) with Capstone Mining Corp (Capstone) (TSX: CS) over its Donovan 2 Copper-Gold project (the “Project”) in Mexico (Transaction). Pursuant to the Agreement, Capstone has the ability to acquire up to an 80% interest in Donovan 2 by sole funding the Project up to completion of a Prefeasibility Study.