The Mining and Exploration News in Mexico: Highlights on the Second Week of July, 2021

By Jorge Cirett

During the 27th week of the year (July 5th to July 11th, 2021), at least 22 press releases were announced by companies working in Mexico. To note, six companies posted exploration advances on their properties, four on quarterly production and one about the end of an illegal blockade 17 months long, one posted on financing, five more on project development or resource definition and one posted an update on a law suite. ON MEXICO ISSUES, the illegal blockade on Americas Gold and Silver Cosalá operations in Sinaloa was terminated. Mexico has fallen 13 places on the Fraser’s Index on Mining Attractiveness, affected by perceptions on security and rule of law. ON EXPLORATION, in Sonora, Benjamin Hill Mining released surface assay results high in Cu and Au; Tocvan Ventures released results from RC drilling at Pilar. In Sinaloa, Brigadier Gold released drilling and underground sampling results from Picachos. In Durango, Canasil started drilling at Nora. In Zacatecas, Zacatecas Silver signed surface access agreements to the San Gill zone at its Zacatecas Silver project. In Oaxaca, Madoro Metals updated on exploration at Yautepec. ON MINING, GoGold Resources, Gatos Silver, Endeavour Silver and Torex Gold presented second quarter 2021 production results. Americas Gold and Silver signed an agreement with several ministries to reopen Its Cosalá operations in Sinaloa.  ON FINANCING, Gold79 Mines commenced trading on the OTCQB Venture Market in USA. Minaurum Gold closed a financing round for C$9.2 M. ON RESOURCES AND DEVELOPMENT, Southern Silver released drilling results from Cerro Las Minitas in Durango. GR Silver Mining, reported drill hole results from Plomosas in Sinaloa. Capitan Mining reported RC holes results from Peñoles, Durango. Guanajuato Silver provided drilling results from Pinguico, Guanajuato. Fabled Silver reported underground drilling results from Santa Maria, Chihuahua. ON DEALS AND CORPORATE ISSUES, Excellon Resources informed on a legal suite regarding the Miguel Auza mine in Zacatecas. ON SOCIAL RESPONSIBILITY, Fresnillo PLC, Minera Autlán and Newmont Peñasquito informed on activities supporting sports, the environment and community equipment in different localities.

ON MEXICO ISSUES

  • Mexico has fallen 13 places in the Fraser’s Index of Mining attractiveness from 2008 to 2020. Investment also saw a 42.8% reduction in the same period, including some effect by the pandemic. Security, labor regulations, political instability, lack of mining concessions and a nationalization streak in the current government were cited as deterrents to investment in the country. Those viewpoints are reflected in less investment, less employment and fewer opportunities to find new orebodies, factors that will lead to  reductions in production and taxes to be paid in the coming years.
  • The illegal blockade on Americas Gold and Silver Cosalá operations is off. After 17 months of illegal blockade, the negotiations aided by the federal government can hardly be called a success. Events like this one add to the deterioration on the global perception of Mexico as a good place for mining investment.
  • The AIMMGM (Asociación de Ingenieros de Minas, Metalurgista y Geólogos de México) stated through its president Sergio Almazán, that investment in the Mexican mining sector has been affect by the lack of certitude.

ON EXPLORATION

  • Benjamin Hill Mining Corp. released assay results from surface sampling at the Caracahui, Caracahui Norte and Sonora Copper areas from its Sonora Gold property in Sonora. Some of the highlighted comprise: 0.1 gpt Au, 12.2% Cu, 80 gpt Ag; 1.7 gpt Au, 10.2% Cu, 15 gpt Ag; 4.4% Cu, 8 gpt Ag; 0.2 gpt Au, 4.3% Cu, 25 gpt Ag; 1.2 gpt Au, 2.4% Cu, 98 gpt Ag; 0.1 gpt Au, 1.9% Cu, 3 gpt Ag; 0.6 gpt Au, 1.5% Cu, 24 gpt Ag; 2.2 gpt Au, 0.9% Cu, 17 gpt Ag; 15.9 gpt Au, 0.4% Cu, 3 gpt Ag; 3.3 gpt Au, 0.1% Cu, 47 gpt Ag; 2.5 gpt Au, 0.1% Cu, 65 gpt Ag; 2.4 gpt Au, 0.5% Cu, 7 gpt Ag; 2.2 gpt Au, 0.9% Cu, 17 gpt Ag; 2.0 gpt Au, 0.3% Cu, 53 gpt Ag. “The recent advancement of exploration on the Sonora Gold concession has identified expansive copper mineralization along broadly continuous structural trends which have not yet been fully explored”.
  • Canasil Resources Inc. announced the start of the 2021 drill program at the Nora project in Durango. The initial focus is to test below, between and on strike extensions from high-grade Au and Ag intercepts from the 2020 program. Highlighted true width intercepts from the previous campaign include 2.40 m @ 4.78 gpt Au, 351 gpt Ag; 1.49 m @ 11.86 gpt Au, 378 gpt Ag and 3.05 m @ 3.71 gpt Au, 489 gpt Ag, with Pb, Zn, Cu credits.
  • Brigadier Gold Ltd. released drilling and underground sampling results from its Picachos project in Sinaloa. Highlighted underground sampling results comprise 0.3 m @ 31.4 gpt Au, 11 gpt Ag, 0.2% Cu, 0.5% Pb, 2% Zn; 3.2 m @ 7.43 gpt Au, 0.1% Pb, 0.2% Zn; 0.9 m @ 4.64 gpt Au, 0.1% Pb, 0.1% Zn; 0.5 m @ 38.88 gpt Au, 22 gpt Ag, 0.4% Cu, 1.7% Pb, 1.5% Zn; 1.0 m @ 12.79 gpt Au, 8 gpt Ag, 0.1% Cu, 0.9% Pb, 0.9% Zn. A surface trench returned 8 m @ 2.14 gpt Au, 0.1% Pb. Highlighted core length intervals comprise 6.5 m @ 0.26 gpt Au, 6 gpt Ag; 60.3 m @ 0.41 gpt Au, 0.2% Zn (including 4.5 m @ 0.56 gpt Au, 0.1% Pb, 0.1% Zn and 7.5 m @ 0.98 gpt Au, 0.1% Zn); 113 m @ 0.19 gpt Au, 0.1% Pb, 0.2% Zn (including 1 m @ 6.89 gpt Au, 0.1% Zn; 4 m @ 1.85 gpt Au; 1 m @ 5.51 gpt Au, 0.1% Zn); 123 m @ 0.27 gpt Au, 0.1% Pb, 0.2% Zn (including 4 m @ 1.08 gpt Au; 4 m @ 1.10 gpt Au, 0.4% Pb, 1.7% Zn; 1 m @ 3.51 gpt Au, 0.1% Pb).
  • Madoro Metals Corp. provided an update on recent exploration results from its Yautepec project in Oaxaca. A previously unknown 7 km long trend of epithermal alteration was found in the southern part of the project by company geologists. Highlighted results comprise 0.10 m @ 12.35 gpt Au, 1,250 gpt Ag in a quartz vein grab sample within a stockwork complex 400 by 200 m in the Tecolote zone; 0.10 m vein @ 0.54 gpt Au, 0.16% Cu, 1.3% Zn on the Southern Dike zone.
  • Zacatecas Silver Corp. completed access agreements with landowners at the San Gill breccia zone and San Gill vein system at its Zacatecas Silver project in Zacatecas. Environmental reports have been sent to SEMARNAT for the drilling of the Panuco and San Gill systems, and a third one is being prepared for El Cristo zone.
  • Tocvan Ventures Corp. released results from six reverse circulation drill holes at its Pilar project in Sonora. The phase II program sunk over 3,500 m in 20 holes, highlighted core length intervals comprise 44.22 m @ 0.41 gpt Au, 4 gpt Ag (including 7.63 m @ 1.66 gpt Au, 7 gpt Ag); 47.27 m @ 0.75 gpt Au, 5 gpt Ag (including 12.20 m @ 1.12 gpt Au and 19.82 m @ 1.06 gpt Au).

ON MINING

  • GoGold Resources Inc. reported production of 315.6 K Oz Ag, 3,170 Oz Au, 120 tonnes Cu during the second quarter of 2021 at its Parral tailings project in Chihuahua.
  • Americas Gold and Silver Corp. signed an agreement with the Mexican Ministries of Economy, Interior and Labour committing to a reopening of its Cosalá operations in Sinaloa, shut by an illegal blockade spanning 17 months. “After the long period of denied access, the agreement contemplates immediate right to possession of the property with a joint inspection coordinated by the Ministry of Labor this Thursday, so that the mine can restart operations in a safe and sustainable manner”.  
  • Gatos Silver Inc. released its production report for the second quarter of 2021, which constitute a record for the company. A total of 240 K tonnes were mined, 230.6 K tonnes were milled at a daily rate of 2,535 tonnes, with an average grade of 322 gpt Ag, 0.35 gpt Au, 2.51% Pb, 4.41% Zn, with recoveries of 89% Ag, 63% Au, 90% Pb, 75% Zn, to produce 2.1 M Oz Ag, 1.5 K Oz Au, 11.2 M lb Pb, 14.5 M Lb Zn in Pb and Zn concentrates.
  • Endeavour Silver Corp. reported production results for the second quarter 2021. During the period 1.07 M Oz Ag, 11,166 Oz Au were produced. The El Cubo mine in Guanajuato was sold to Guanajuato Silver Corp..
  • Torex Gold Resources Inc. released production results for Q2 2021. At its El Limón-Guajes mine in Guerrero, a total of 118,050 Oz Au was produced, with an average plant throughput of 11,980 tpd, average underground ore mined of 1,420 tpd and an average open pit ore mined of 12,430 tpd.

ON FINANCING

  • Gold 79 Mines Ltd. commenced trading on the OTCQB Venture Market in the United States, operated by the OTC Markets Group Inc., under the stock symbol AUSVF (Taviche , Oaxaca).
  • Minaurum Gold Inc. closed a previously announced bought deal public offering, for gross proceeds of C$9.2 M. Due to the demand, the offering was upsized from the original gross proceeds of C$7 M. The offering included an investment from Crescat Capital (Alamos Silver, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Southern Silver Exploration Corp. released drilling results that extend mineralization at the South Skarn and La Bocona areas at its Cerro Las Minitas project in Durango. True width core intervals comprise 1.8 m @ 161 gpt Ag, 0.1 gpt Au, 4.9% Pb, 3.0% Zn (including 0.4 m @ 422 gpt Ag, 0.4 gpt Au, 13.2% Pb, 9.1% Zn); 2.6 m @ 159 gpt Ag, 0.1 gpt Au, 2.4% Pb, 3.5% Zn; 14.0 m @ 162 gpt Ag, 0.2 gpt Au, 1.4% Pb, 0.5% Zn; 1.1 m @ 227 gpt Ag, 0.1 gpt Au, 3.7% Pb, 1.9% Zn. As of May 2019, the indicated resources stood at 37.5 M Oz Ag, 40 M Lb Cu, 303 M Lb Pb, 897 M Lb Zn; and inferred resources at 45.7 M Oz Ag, 76 M Lb Cu, 253 M Lb Pb, 796 M Lb Zn.
  • GR Silver Mining Ltd. reported results from the final drill holes to be incorporated in to the incoming resource estimation on the Plomosas mine area of the Plomosas project in Sinaloa. True width highlighted intervals comprise 29.5 m @ 1.13 gpt Au, 0.1% Zn (including 9.1 m @ 2.12 gpt Au, 0.1% Pb, 0.1% Zn); 6.4 m @ 0.81 gpt Au, 0.1% Zn; 3.6 m @ 163 gpt Ag, 0.05 gpt Au, 6.4% Pb, 3.7% Zn, 0.2% Cu; 6.1 m @ 120 gpt Ag, 0.48 gpt Au, 2.8% Pb, 0.7% Zn, 0.1% Cu; 0.9 m @ 5.24 gpt Au, 0.2% Pb, 0.2% Zn; 11.8 m @ 328 gpt Ag, 0.19 gpt Au, 0.5% Pb, 1.2% Zn; 1.0 m @ 680 gpt Ag, 0.04 gpt Au, 0.6% Pb, 2.4% Zn; 4.9 m @ 143 gpt Ag, 1.2% Pb, 4.3% Zn.
  • Capitan Mining Inc. reported results for four reverse circulation drill holes from the Capitan deposit at its Peñoles project in Durango. Highlighted intervals comprise 56.4 m @ 0.58 gpt Au, 14 gpt Ag (including 10.7 m @ 0.99 gpt Au, 16 gpt Ag); 38.1 m @ 0.26 gpt Au; 6.1 m @ 0.28 gpt Au, 5 gpt Ag; 187.5 m @ 0.23 gpt Au, 1 gpt Ag (including 29.0 m @ 0.51 gpt Au, 3 gpt Ag); 10.7 m @ 0.25 gpt Au, 4 gpt Ag; 41.1 m @ 0.24 gpt Au, 5 gpt Ag. Capitan Mining expects to complete a 6,000 m reverse circulation program during the summer whilst continuing exploration work on additional targets.
  • Guanajuato Silver Company Ltd. provided drilling results from El Pinguico, Guanajuato. Highlighted core length results comprise 1.65 m @ 2.45 gpt Au, 125 gpt Ag; 7.95 m @ 1.35 gpt Au, 39 gpt Ag (including 0.75 m @ 8.81 gpt Au, 208 gpt Ag); 8.10 m @ 1.00 gpt Au, 93 gpt Ag (including 0.90 m @ 5.96 gpt Au, 476 gpt Ag). GS Silver is planning a 3,800 m 18-hole strong drill program, with the aim of estimating resources.
  • Fabled Silver Gold Corp. announced results from underground drilling at the Santa Maria property in Chihuahua. Results comprise 9.90 m @ 0.08 gpt Au, 17 gpt Ag, minor (<0.1%) Pb-Zn-Cu; 1.20 m @ 0.08 gpt Au, 13 gpt Ag, minor Pb-Zn-Cu; 18.0 m @ 0.24 gpt Au, 20 gpt Ag, minor Pb-Zn-Cu; 2.40 m @ 0.06 gpt Au, 36 gpt Ag, minor Pb-Zn-Cu; 0.80 m @ 0.24 gpt Au, 302 gpt Ag, 0.1% Pb, 0.25% Zn; 6.30 m @ 0.04 gpt Au, 17 gpt Ag, minor Pb-Zn-Cu.

ON DEALS AND CORPORATE ISSUES

  • Excellon Resources Inc. informed on the legal action regarding the Antigua concession within its Evolution project in Durango. A subsidiary of Excellon, San Pedro Resources SA de CV has been mandated in court to pay US$23 M in damages for not having in operation the Miguel Auza mine. “Excellon understands from an initial electronic notice that San Pedro’s appeal of this decision to the federal courts of Mexico was dismissed on July 1, 2021, despite the decision not being supported by the evidence, facts or law”.

ON SOCIAL RESPONSIBILITY

  • Fresnillo PLC informed on the re-activation of sports programs in Coahuila.
  • Minera Autlán supports an environmental project in Hidalgo.
  • Fresnillo PLC backs the environment in Durango, aiding the El Porvenir sustainable forest.
  • Newmont Peñasquito installed a solar powered pumping system at El Nuevo Vergel, Zacatecas.

On the image below:  Structure in andesitic rocks exposed on a road cut in Sonora. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the First Week of July, 2021.

Flow Banded Rhyolite Dome

By Miguel A Heredia

During the 26th week of the year (June 28th to July 04th, 2021), at least 25 press releases were announced by companies working in Mexico and 5 news published by the media, with nine disclosing deals and corporate issues, seven announcing financial rounds, three reporting on resources and developments, three informing on exploration results, three communicating production and financial results, three commenting on Mexican issues, and two discussing social issues.  ON MEXICO ISSUES, The Ministry of the Environment and Natural Resources (SEMARNAT) authorized the expansion of the El Boleo mine in Baja California. Guanajuato Silver announced that it will restart activities at its El Cubo mine in October 2021. Mexico was the world’s leading silver producer in 2020. ON EXPLORATION, In Sonora, Silver Spruce announced it has contracted regional ASTER and LANDSAT spectral analysis on their Mezquite, Jackie and Diamante mining properties. In Chihuahua, Reyna Silver announced that it has started a 10,000m drilling program at its Batopilas project, and reported that a second drill rig has been added to speed up the completion of the current drilling  program conducted at its Guigui project.  ON MINING, Consolidated Zinc provided an operation update of its Plomosas mine in Chihuahua. Magna Gold announced it has achieved full-scale commercial production at its San Francisco mine in Sonora. Mexus Gold announced that it has sold gold doré as a result of recent production at its Santa Elena mine in Sonora.  ON FINANCING, Altaley restructured a USD $$26,027,240 debt with Trafigura and Nyrstar (Campo Morado mine, Guerrero). Comet issued 5M of fully paid ordinary shares (Santa Teresa property, Baja California Norte).  Defiance Silver granted stock options to certain directors and officers (San Acacio property, Zacatecas). Orla subscribed a non-brokered prospectus financing for gross proceeds of USD $35M (Camino Rojo project, Zacatecas). Silver Wolf received approval from OTC Markets Group Inc. to commence trading on the OTCQB Venture Market under the ticker symbol “GYRRF” (Ana Maria and El Laberinto properties in Durango). Silver Bull closed a private placement for gross proceeds of CAD $500K (Sierra Mojada project, Coahuila). Vista Gold received a final payment for $1M from Prime Mining to complete the agreement on the Guadalupe de Los Reyes property in Sinaloa.  ON RESOURCES AND DEVELOPMENT, Chesapeake drilled five core drill holes at its Metates project in Durango to provide core for a comprehensive metallurgical testwork program and to confirm the higher-grade nature of the Metates intrusive hosted mineralization. Prime Mining reported new results from its ongoing drill program conducted at its Los Reyes project in Sinaloa. Silver Tiger released results from its ongoing drilling program conducted at its El Tigre project in Sonora. ON DEALS AND CORPORATE ISSUES, Capstone published its 2020 sustainability report (Cozamine mine, Zacatecas). Discovery Silver presented results of its annual general meeting of shareholders (Cordero project, Chihuahua). Fortuna and Roxgold completed its previously announced business combination (San Jose mine, Oaxaca). GoGold presented its first sustainability report (Los Ricos project, Jalisco). Gold79 announced results from its annual general meeting of shareholders (Taviche project, Oaxaca). GR Silver appointed its Chairman of the Board of Directors (Plomosas project, Sinaloa).  Maverix acquired royalty portfolio from Pan American Silver, including Hernandez property in Sonora.  Sonoro presented results from its annual general meeting of shareholders (Cerro Caliche project, Sonora).  ON SOCIAL RESPONSIBILITY, The company Minera Media Luna (MML), a subsidiary of Torex Gold Resources, convened the second edition of the “Enchulemos Juntos Nuestra Comunidad” (let’s improve our community together) program in the town of Nuevo Balsas, Guerrero. The Secretary of Tourism, Eduardo Yarto delivered two S stamps to Fresnillo plc, after it concluded its processes of renewal of procedures within its facilities to implement good sustainable practices.

ON MEXICO ISSUES

  • The Ministry of the Environment and Natural Resources (SEMARNAT) approved on a conditional basis the expansion of the Environmental Impact Manifestation (MIA) requested by Minera y Metalúrgica del Boleo for the exploitation of copper, cobalt and zinc in 446 hectares for 16 years in the municipality of Mulegé, in Baja California. 2,481 participants representing 89% voted In favor of the expansion.
  • Guanajuato Silver Company Ltd., announced that it will restart activities at its El Cubo mine, Guanajuato in October 2021, which is expected to employ more than 200 miners in the capital, with priority in hiring those who were fired in the closure two years ago.
  • Mexico was the world’s leading silver producer in 2020 maintained the leadership in silver production on a global scale in 2020, with 5,541M tonnes. The Mexican mining company Fresnillo plc owned by Grupo Bal and linked to the Baillères family, is the largest company primary silver producer in the world.

ON EXPLORATION

  • Silver Spruce Resources Inc., announced it has contracted Strategic Consultants IGIS for a regional ASTER and LANDSAT spectral analysis on their Mezquite, Jackie and Diamante mining properties in Sonora. This study will help to understand the structural and lithological controls in a regional context and provide additional detail on the mineral by mineral distribution over each of the properties. It also will help to outline alteration pattern for enhanced target definition in each of the mining properties.
  • Reyna Silver Corp., announced that it has started a 10,000m drilling program at its Batopilas project in Chihuahua. The program is focused on testing targets identified in the spring of 2021 exploration campaign, which discovered multiple extensions to the 30 known veins in the district, of which two new veins returned high-grade values up to 42,302 g/t Ag and 210.4 g/t Au. The company also announced that a second drill rig has been added to its Guigui project in the Santa Eulalia mining district in Chihuahua to extend and speed up the completion of the ongoing drilling program. The company has completed 8,000m of the 12,000m planned and this second rig will allow to speed up the completion of the entire Phase 1 drilling by the end of July, 2021. Results of the Phase 1 drilling campaign will be released soon after.

ON MINING

  • Consolidated Zinc Limited provided an operation update of its Plomosas mine in Chihuahua. The company announced that it processed 3,958 tonnes of ore in May, 2021 for 719 tonnes of zinc concentrates and 184 tonnes of lead concentrates at its Plomosas and Aldama plants in Chihuahua. The company intends to continue processing through both plants until ore stockpiles are depleted and the Plomosas plant sustains the targeted 4,500tpm process rate.
  • Magna Gold Corp., announced it has achieved full-scale commercial production at its San Francisco mine in Sonora. Magna is on track to achieve its earlier stated 2021 guidance of 55K-65K Oz Au production, since it has completed the necessary pre-stripping and substantially lowered the mine strip ratio from ~8:1 to ~3:1. At San Francisco, the company anticipates a production run rate of ~6K Oz Au/month in Q3 and looks to exit the year at a run rate of ~7.5K Oz Au/month.
  • Mexus Gold US announced that it has sold gold doré as a result of recent production at its Santa Elena mine in Sonora. The sales netted the company $24K. “The company is in the process of shipping activated carbon to the U.S. for processing. It is believed that this material contains up to 75 OZ Au.  Mexus is also adding liner to the existing heap leach pad which will allow for increased production. Material currently being mined continues to test in the 5.66g/t Au range”.

ON FINANCING

  • Altaley Mining Corporation restructured a USD $26,027,240 debt with Trafigura Mexico S.A. de C.V., and Nyrstar Canada (Holdings) Ltd.  Terms of the total debt restructured was USD $14,720,840 on the Tahuehueto project in Durango for a term of 32 months, an London interbank offered interest rate (LIBOR) of 6% (1 year), and a grace period of 8 months; USD $4,024,678 on the Campo Morado mine in Guerrero for a term of 26 months, a LIBOR of 5% (3 months), and a grace period of 8 months; and USD $7,281,722 on the Campo Morado mine in Guerrero for a term of 26 months and a LIBOR of 10%.
  • Comet Resources Ltd., issued 5M of fully paid ordinary shares upon the exercise of unlisted options exercisable at $0.02 each on or before 30 June 2021.  (Santa Teresa property, Baja California Norte).
  • Defiance Silver Corp., granted stock options to certain directors and officers to purchase an aggregate of 1.425M of common shares at an exercise price of $0.90. The options are exercisable for a ten-year term expiring June 30, 2031 (San Acacio property, Zacatecas).
  • Orla Mining Ltd., subscribed a non-brokered prospectus financing for gross proceeds of USD $35M, consisting of 9,085,263 common shares priced at CAD $4.75 per common share. Part of the net proceeds will be used for development activities at its Camino Rojo Oxide Gold project in Zacatecas. The offering is expected to close on or about July 14, 2021.
  • Silver Wolf Exploration Ltd., received approval from OTC Markets Group Inc. to commence trading on the OTCQB Venture Market under the ticker symbol “GYRRF” (Ana Maria and El Laberinto properties in Durango).
  • Silver Bull Resources Inc., closed a private placement for gross proceeds of CAD $500K. Net proceeds of the private placement will be used by Silver Bull for general working capital purposes   (Sierra Mojada project, Coahuila).
  • Vista Gold Corp., received a final payment for $1M from Prime Mining Corp. to complete the agreement on the Guadalupe de Los Reyes property in Sinaloa. With this $1.0M payment, Vista has no remaining right to be granted the royalties and back-in rights.

ON RESOURCES AND DEVELOPMENT

  • Chesapeake Gold Corp., drilled five core drill holes at its Metates project in Durango to provide core for a comprehensive metallurgical testwork program and to confirm the higher-grade nature of the Metates intrusive hosted mineralization. Significant drill intercepts were encountered in hole CKG21-086 with 1.15 g/t Au and 49 g/t Ag (1.80 g/t AuEq or 135 g/t AgEq) over a true width (TW) of 432m, including 1.21 g(t Au and 417 g/t Ag (6.77 g/t AuEq or 508 g/t AgEq) over a TW of 9m, including 2.49 g/t Au and 22 g/t Ag (2.78 g/t AuEq or 20+9 g/t AgEq) over a TW of 69m, and including 2.13 g/t Au and 9 g/t Ag (2.25 g/t AuEq or 170 g/t AgEq) over a TW of 57m; hole CKG21-085 with 1.13 g/t Au and 29 g/t Ag (1.53 g/t AuEq or 114 g/t AgEq) over a TW of 282m, including 1.34 g/t Au and 32 g/t Ag (1.76 g/t AuEq or 132 g/t AgEq) over a TW of 150m; and hole CKG21-084 with 1.06 g/t Au and 17 g/t Ag (1.29 g/t AuEq or 97 g/t AgEq) over a TW of 135m, plus 0.86 g/t Au and 11 g/t Ag (1.01 g/t AuEq or 75 g/t AgEq) over a TW of 90m.
  • Prime Mining Corp., reported new results from its ongoing drill program conducted at its Los Reyes project in Sinaloa. The most significant drill intercepts were encountered in hole 21Mina-02 with 4.44 g/t Au and 1,060 g/t Ag over an estimated true width (ETW) of 4.8m, including 6.62 g/t Au and 1,398 g/t Ag over an ETW of 2m, including 6.3 g/t Au and 1,881 g/t Ag over an ETW of 1.2m; hole 21Mina-05 with 3,243 g/t Ag over an ETW of 0.74m, plus 1.45 g/t Au and 29 g/t Ag over an ETW of 1.85m; and hole 21Mina-06 with 1.72 g/t Au and 30 g/t Ag over an ETW of 3.20m.  These results are from six holes completed at Mina Area during phase I drilling. To date, 15,000m Phase I is complete and the 30,000m Phase 2 program has been started.
  • Silver Tiger Metals Inc., released results from its ongoing drilling program conducted on the Sooy Vein at its El Tigre project in Sonora. Highlights include hole ET21-233 with 0.13 g/t Au, 491 g/t Ag, 0.08% Pb, and 0.01% Zn (510 g/t AgEq) over 0.5m, plus  0.25 g/t Au, 2,041 g/t Ag, 0.65% Cu, 1.2% Pb, and 3.6% Zn (2,271 g/t AgEq), including 4,048 g/t Ag, 0.45 g/t Au, 1.31% Cu, 0.6% Pb, and 7.3% Zn (4,461 g/t AgEq) over 0.5m; hole ET21-230 with 0.15 g/t Au, 704 g/t Ag, 0.14% Cu, 0.05% Zn (731 g/t AgEq) over 0.5m, plus 0.12 g/t Au, 193 g/t Ag, 0.09% Cu, 0.03% Pb, and 0.15 % Zn (217 g/t AgEq) over 3m, including 0.2 g/t Au, 1,080 g/t Ag, 0.55% Cu, 0.1% Pb, and 0.75% Zn (1,176 g/t AgEq) over 0.5m, plus 0.28 g/t Au, 199 g/t Ag, 0.06% Cu, 0.2% Pb, and 0.3% Zn (241 g/t AgEq) over 0.5, plus 0.41 g/t Au, 161 g/t Ag, 0.04% Cu, 0.2% Pn, and 0.4% Zn (214 g/t AgEq) over 0.5m; and hole ET21-229 with 0.13 g/t Au, 63 g/t Ag, 0.21% Cu, 0.8% Pb, and 1.6% Zn (165 g/t AgEq) over 13.5m, including 0.11 g/t Au, 83 g/t Ag, 0.27% Cu, 1% Pb, and 2% Zn (209 g/t AgEq) over 9.9m, including 0.21 g/t Au, 114 g/t Ag, 0.38% Cu, 3.7% Pb, and 8.7% Zn (542 g/t AgEq) over 1.8m.

ON DEALS AND CORPORATE ISSUES

  • Capstone Mining Corp., published its 2020 sustainability report.  (Cozamine mine, Zacatecas)
  • Discovery Silver Corp. presented results of voting at its annual general meeting of shareholders (Cordero project, Chihuahua).
  • Fortuna Silver Mines Inc., and Roxgold Inc., completed its previously announced business combination to create a global premier growth-oriented intermediate gold and silver producer (San Jose mine, Oaxaca).
  • GoGold Resources Inc., presented its first sustainability report that sets out the company’s priorities with respect to its environmental, social and governance (“ESG”) practices (Los Ricos project, Jalisco).
  • Gold79 Mines Ltd., announced results from its annual general meeting of shareholders (Taviche project, Oaxaca).
  • GR Silver Mining Ltd., appointed its Chairman of the Board of Directors (Plomosas project, Sinaloa).
  • Maverix Metals Inc., acquired royalty portfolio from Pan American Silver, including Hernandez property in Sonora. The Hernandez property, currently on exploration, is owned by First Majestic and includes a 2.5% NSR.
  • Sonoro Gold Corp., presented results from its annual general meeting of shareholders (Cerro Caliche project, Sonora). 

ON SOCIAL RESPONSIBILITY

  • Minera Media Luna (MML), a subsidiary of Torex Gold Resources, convened the second edition of the “Enchulemos Juntos Nuestra Comunidad” (let’s improve our community together) program in the town of Nuevo Balsas, Guerrero. During the cleaning day, about 300 people participated, including contractors, residents and collaborators of the mining company, remodeling four public spaces: the vehicular roundabout on Gerardo Reyes Norte Street, the camellones on that same street, the sports area in the southern part and the perimeter fencing of the downtown court. The investment of the work done amounted to MXP $1.3M. Members of the Public and Community Relations areas of MML, the collaborators of 11 contractor companies, members of the Participatory Community Development Committee (CODECOP) and residents of Nuevo Balsas cleaned and reforested green areas, painted fences and garrisons, and assisted in various activities that together aim to maintain the program to improve public spaces that the mining company began last year. The effort achieved the painting of 2,300 meters of trimmings, the planting of 90 trees, the collection of five tons of garbage, and the painting of 300 square meters of fences.
  • The Secretary of Tourism in Zacatecas, Eduardo Yarto delivered two S stamps to Fresnillo plc, after it concluded its processes of renewal of procedures within its facilities to implement good sustainable practices. The Secretary underlined the disposition of Fresnillo plc, with the renewal of the certification for the golf course and the ecological park Fresnillo PLC, to offer quality services to users.

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 flow banded rhyolite dome intruding a clay-altered rhyolitic ignimbrite sequence in Chihuahua, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of June, 2021

By Jorge Cirett

During the 25th week of the year (June 21st to June 28th, 2021), at least 34 press releases were announced by companies working in Mexico. To note, seven companies posted exploration advances on their properties, six posted on financing, warrants extension, options distribution or option payments received, eight more on project development or resource definition and four posted on deals or corporate issues. ON MEXICO ISSUES, there is a new illegal blockade at Los Filos in Guerrero. Canadian Mining companies are suffering the results of the asylum provided by Canada to Mexican union leader Napoleon Gómez Urrutia. ON EXPLORATION, in Sonora, Riverside is receiving funding for exploration of five properties; Ridgestone released surface sample results from Rebeico; Colibri completed an IP survey on Evelyn. In Chihuahua, Kootenay is to rehabilitate underground workings at Columba. In Sinaloa, GR Silver initiated a drilling campaign in the Rosario district. In Durango, Mithril intersected bonanza grade mineralization in drill holes at Copalquin. In Jalisco, Xali Gold identified targets at its Tepic project. ON MINING, Mexus Gold produced some gold at Santa Elena in Sonora. Fresnillo paid US$176.2 M in taxes to the Mexican government in 2020. Santacruz Silver reported a fatality at is Rosario mine in San Luis Potosi. ON FINANCING, Reyna Silver, Wealth Minerals and Southern Silver reported on financing rounds for C$6.06 M, $675 K and $3 M respectively. Vizsla Silver granted options, Radius Gold received $400 K as payment from Pan American Silver related to an earn-in agreement on the Amalia project. Advance Gold extended the expiry date of some warrants. ON RESOURCES AND DEVELOPMENT, Guanajuato Silver informed on advance at getting the El Cubo and Pinguico mines back to production. Minera Alamos informed construction has been completed at Santana, in Sonora. Fabled Silver Gold released drilling results from Santa Maria, in Chihuahua. Discovery Silver released results from drilling targeting bulk mining mineralization at Cordero, in Chihuahua. Vizsla Silver released interesting drilling results from Panuco, in Sinaloa. Silver Dollar signed a surface access agreement at La Joya, in Durango. Oroco Resources received the environmental permit to drill at Santo Tomas, in Sinaloa. ON DEALS AND CORPORATE ISSUES, Vizsla Silver is to spin a Canadian copper asset, forming Vizsla Copper. Fortuna Silver and Roxgold received a recommendation for their business combination. David Jones is on Benjamin Hill as a technical advisor. Orogen Royalties is to trade on the OTCQX ON SOCIAL RESPONSIBILITY, Peñoles, Fresnillo PLC, the Chihuahua Mining cluster and Minera Peñasquito informed on actions the companies realize to help communities and the environment. Great Panther published its sustainability report. Newmont launched its Climate Strategy Report.

ON MEXICO ISSUES

  • Equinox Gold Corp. informed an illegal blockade has temporarily suspended mining activities at Los Filos, Guerrero. the illegal blockades are led by “a group of unionized employees and members of the Xochipala community, both of whom are demanding payments in excess of their contractual agreements.
  • Americas Gold & Silver continues its fight against Napoleón Gómez Urrutia union. The company has had its San Rafael mine in Cosalá, Sinaloa, under siege for 18 months by the section 333 of the Sindicato de Trabajadores Mineros, Metalurgicos, Siderurgicos y Similares de la República Mexicana (the union led by Napoleón Gómez Urrutia). The company asked the Canadian government for help on what they see as an illegal blockade disguised as a dispute for the Union to control the company’s personnel collective contract (speaking of retribution, Canadian Mining companies are paying for the asylum Canada provided to the Union leader, and are set to pay dearly if do not fight back).

ON EXPLORATION

  • Riverside Resources Inc. informed BHP is funding exploration in five projects in Sonora, acquired under the BHP-Riverside Exploration Funding Agreement. A total of US$1.3 M over two years was allocated for generative funding, with an additional US$1 M in specific work programs. Riverside anticipates two projects will see a maiden drill campaign on 2021, of five under evaluation. The Chuin and Palofierro projects are the most advanced, while Sinoquipe, Penitas and Montosa projects are to follow suite. Magneto-teluric (MT) and gravity geophysics, green-mineral, whole rock and prospecting are being used for vectoring and district evaluations.
  • GR Silver Mining Ltd. initiated a 14,000 m exploration drill program in the Rosario district in Sinaloa.  Seven drill rigs are being mobilized to dill vein systems covering a combined 75 km strike length of the Plomosas, San Marcial and La Trinidad project areas. Some of the targets include the GAP area, Loma Dorada structure.
  • Xali Gold Corp. identified drill targets that can extend known mineralization at its Cocula project in Jalisco. These drill targets were identified on a 3D model, and are designed to test potential extensions to previously defined zones. The project displays two styles of mineralization, gold-silver as dissemination in oxidized breccias near surface and higher-grade gold silver and base metals in structures containing stockwork quartz veining.
  • Ridgestone Mining Inc. released assay results from sampling on recent mapping at its Rebeico project in Sonora. Sampling at El Cobre mine returned up to 1.0 m @ 3.5% Cu, 0.32 gpt Au, 32 gpt Ag, 0.136% Mo on the main structure. Regional mapping returned up to 1.2 m @ 1.06% Cu, 2.40 gpt Au, 6 gpt Ag in a quartz vein and 1.5 m @ 0.08% Cu, 3.45 gpt Au in a breccia. “The El Cobre mine was put into production by Asarco during the sixties and was developed on two levels, with the upper level having over 230 metres of drift development and the lower level having over 100 metres long of drift development at a depth of 180 metres below surface. The main structure, with widths varying from 1 to 5 metres, has been emplaced within a granodiorite intrusive and remains open along strike and at Depth”.
  • Kootenay Silver Inc. announced the signing of a contract with Tlasa Obras Mineras S. de R.L. de C.V. to rehabilitate the historic underground workings of the F vein at the Coulmba project in Chihuahua. Work is expected to take four months.
  • Colibri Resource Corp. reported the completion of the previously announced IP survey at Evelyn, in Sonora. The IP survey consisted of 38-line km of 3D-IP covering the eastern half of the Evelyn project. “…the highest chargeability response is spatially associated with the Main Zone within the Cerro Rojo target area…. the Company has decided to extend the IP survey to the western boundary thus completing 3D IP coverage over most of the property”.
  • Mithril Resources Ltd. released drill results from its Copalquin project in Durango. Highlighted core length results comprise: 6.8 m @ 74 gpt Au, 841 gpt Ag (including 2.1 m @ 235 gpt Au, 2,554 gpt Ag); 4.61 m @ 1.87 gpt Au, 89 gpt Ag; 7.60 m @ 2.34 gpt Au, 144 gpt Ag; 1.0 m @ 2.64 gpt Au, 167 gpt Ag; 6.0 m @ 1.41 gpt Au, 66 gpt Ag; 1.80 m @ 2.38 gpt Au, 53 gpt Ag; 1.05 m @ 2.36 gpt Au, 95 gpt Ag; 0.50 m @ 28.9 gpt Au, 471 gpt Ag; 1.66 m @ 2.41 gpt Au, 153 gpt Ag. Drilling continues along El Refugio structure, and soil sampling is in progress to define the structure a further 1.3 km to the west.

ON MINING

  • Mexus Gold US. informed its Santa Elena mine in Sonora produced 20 Oz Au last week and confirmed the presence of 30 ounces more on the activated carbon cells.
  • Fresnillo PLC. presented a report on the payments to the governments of Mexico, Chile and Peru. In Mexico, Fresnillo paid US$ 139.3 M in taxes, US$1.48 M in royalties and US$35.4 M in concession fees, for a total of US$176.2 M.
  • Santacruz Silver Mining Ltd. reported a fatality at its Rosario project in San Luis Potosi. ”The accident took place at the Membrillo mine as a result of a rock fall”.

ON FINANCING

  • Vizsla Silver Corp. granted 4.15 M options to directors, officers, employees and consultants (Panuco, Sinaloa).
  • Reyna Silver Corp. has over-sold the offering and completed a brokered private placement for gross proceeds of C$6.06 M (GuiGui, Chihuahua).
  • Radius Gold Inc. reported that Pan American Silver, its joint venture partner in at the Amalia project in Chihuahua, has paid a scheduled US$400 K property payment to Radius, and plans further drilling at the project. “Exploration completed at Amalia includes 31 holes for 10,588m of diamond core drilling, primarily at the San Pedro zone on the Amalia structure. The next targets to be drill tested are El Cuervo…. and at California”.
  • Wealth Minerals Ltd. closed the second tranche of the placement, for gross proceeds of $675 K (Coronado, Chihuahua).
  • Southern Silver Exploration Corp. closed the non-brokered private placement financing for gross proceeds of $3 M (Cerro Las Minitas, Durango).
  • Advance Gold Corp.  applied to the TSX Venture Exchange to extend the expiry date on 3.08 M share purchase warrants issued pursuant to the private placement financing in July 2019, by one year, to July 9, 2022 (Tabasqueña, Zacatecas).

ON RESOURCES AND DEVELOPMENT

  • Guanajuato Silver Company Ltd. informed on staffing mill and mine refurbishment at El Cubo, Guanajuato. Also the company is doing metallurgical studies on El Cubo and Pinguico deposits.
  • Minera Alamos Inc. informed all construction has now been completed at Santana, in Sonora. “All construction has now been completed with the full leach pad now lined and available for stacking….. First loading of mined material from the Nicho Norte pit commenced earlier this month …in preparation for the commissioning of leach operations around the end of the June”.
  • Fabled Silver Gold Corp. released drilling results from its ongoing campaign at Santa Maria, Chihuahua. Highlighted core length results comprise 10.50 m @ 0.38 gpt Au, 31 gpt Ag, 0.2% Pb, 1.0% Zn Cu (including 1.20 m @ 1.37 gpt Au, 51 gpt Ag, 0.6% Pb, 4.2% Zn); 27.50 m @ 0.19 gpt Au, 20 gpt Ag (including 1.20 m @ 0.52 gpt Au, 163 gpt Ag, 0.3% Pb, 1.0% Zn); 19.65 m @ 0.44 gpt Au, 52 gpt Ag, 0.3% Pb, 0.6% Zn (including 7.90 m @ 0.74 gpt Au, 104 gpt Ag, 0.5% Pb, 1.2% Zn); 1.00 m @ 0.33 gpt Au, 322 gpt Ag, 0.3% Pb, 0.4% Zn.
  • Discovery Silver Corp. released results from 12 drill holes targeting bulk-mining mineralization at its Cordero project in Chihuahua. Highlighted results comprise 65.9 m @ 69 gpt Ag, 0.11 gpt Au, 0.7% Pb, 3.7% Zn; 143 m @ 39 gpt Ag, 0.13 gpt Au, 0.4% Pb, 1.3% Zn; 59.5 m @ 54 gpt Ag, 0.08 gpt Au, 0.9% Pb, 1.5% Zn; 86.0 m @ 33 gpt Ag, 0.17 gpt Au, 0.3% Pb, 1.2% Zn; 82.3 m @ 44 gpt Ag, 0.06 gpt Au, 0.7% Pb, 1.5% Zn; 59.4 m @ 48 gpt Ag, 0.06 gpt Au, 1.0% Pb, 2.0% Zn; 48.9 m @ 85 gpt Ag, 0.08 gpt Au, 0.6% Pb, 1.1% Zn.
  • Vizsla Silver Corp. provided results for fourteen holes from the Napoleon prospect at the Panuco project in Sinaloa. Highlighted true width results comprise 3.73 m @ 2.85 gpt Au, 105 gpt Ag, 0.7% Pb, 1.4% Zn; 2.62 m @ 5.51 gpt Au, 476 gpt Ag, 1.5% Pb, 1.1% Zn; 8.36 m @ 5.58 gpt Au, 372 gpt Ag, 0.2% Pb, 0.9% Zn (including 2.31 m @ 18.88 gpt Au, 1,306 gpt Ag, 0.7% Pb, 2.1% Zn; 3.21 m @ 0.94 gpt Au, 30 gpt Ag, 0.1% Pb, 0.9% Zn; 3.45 m @ 1.81 gpt Au, 43 gpt Ag, 0.3% Pb, 1.2% Zn; 11.34 m @ 3.11 gpt Au, 88 gpt Ag, 0.3% Pb, 2.1% Zn; 4.87 m @ 3.70 gpt Au, 112 gpt Ag, 0.3% Pb, 1.5% Zn.
  • GoGold Resources Inc. informed on results from seven drill holes from El Favor deposit at its Los Ricos North project in Jalisco. Highlighted core length results comprise: 15.0 m @ 0.41 gpt Au, 136 gpt Ag (including 6.4 m @ 0.80 gpt Au, 258 gpt Ag); 20.6 m @ 0.13 gpt Au, 44 gpt Ag; 10.6 m @ 0.09 gpt Au, 38 gpt Ag; 6.5 m @ 0.17 gpt Au, 81 gpt Ag; 63.7 m @ 0.11 gpt Au, 47 gpt Ag (including 9.1 m @ 0.54 gpt Au, 186 gpt Ag); 61.3 m @ 0.56 gpt Au, 243 gpt Ag (including 9.3 m @ 2.06 gpt Au, 973 gpt Ag); 9.4 m @ 0.10 gpt Au, 45 gpt Ag; 6.8 m @ 0.12 gpt Au, 136 gpt Ag; 4.8 m @ 0.25 gpt Au, 88 gpt Ag; 14.4 m @ 0.17 gpt Au, 49 gpt Ag; 35.2 m @ 0.17 gpt Au, 43 gpt Ag. “Three of the four major veins (Salomon, Guitarrillas and Los Chivos) appear to converge into a 100m wide zone at the western end of the El Favor deposit in the vicinity of the Hundido Pit….”.
  • Silver Dollar Resources Inc. entered into a formal surface access agreement with the ejido Noria de Pilares, at its La Joya project in Durango.
  • Oroco Resources Corp. received approval by SEMARNAT to conduct a drilling program at its Santo Tomas project in Sinaloa. The permit allows for 46 drill locations to test the Brasiles gossan zone and the Western blind target, both supported by a 3D IP survey, and nine drill locations on the North zone for confirmation and expansion drilling.

ON DEALS AND CORPORATE ISSUES

  • Vizsla Silver Corp. informed on the approval of the proposed plan of arrangement on which Vizsla Silver is to spin-out its British Columbia exploration assets to Vizsla Copper Corp. (Panuco, Sinaloa).
  • Fortuna Silver Mines Inc. and Roxgold Inc. informed two leading proxy advisory firms have recommended that both Fortuna and Roxgold shareholders vote for the proposed business combination (San Jose, Oaxaca).
  • Benjamin Hill Mining Corp. announced the appointment of David M. Jones, M.Sc., as technical advisor to the company (Sonora Gold, Sonora).
  • Orogen Royalties Inc. announced its shares have been qualified to trade on the OTCQX Best Market (Ermitaño, Sonora).

ON SOCIAL RESPONSIBILITY

  • Peñasquito informed its water purification plant in Cedros has increased its capacity to 400 cubic meters per day. The community, which doubled its population since the development of the mine, receives the water at no cost. There are two other water purification plants run by the company at the Mesas and Charcos communities.
  • Greath Panther Mining published its 2020 sustainability report, describing its safety performance, Covid prevention, zero sanctions, decrease in water consumption, community engagement, gender opportunities and diversity policy.
  • The Chihuahua Mining Cluster is aiding in the community effort to extinguish forest fires in the Sierra Madre.
  • Newmont Corp. launched its first Climate Strategy Report, which outlines the Company’s climate-related risks and opportunities, strategic planning, and pathways to achieving climate targets.
  • Industrias Peñoles informed on the reforestation effort with native species in La Laguna region (Coahuila-Durango).
  • Peñoles and Fresnillo PLC are to support micro business and auto-development economic proyects in Caborca, Sonora.

On the image below:  Sheeted quartz veining in granodioritic intrusive rocks in Sinaloa. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Third Week of June, 2021.

Quartz Vein-Breccia

By Miguel A Heredia

During the 24th week of the year (June 14th to June 20th, 2021), at least 15 press releases were announced by companies working in Mexico and 6 news published by the media, with seven reporting on resources and developments, five informing on exploration results, four commenting on Mexican issues, two announcing financial rounds, two discussing social issues, and one disclosing deals and corporate issues.  ON MEXICO ISSUES, Dhipna Yanssen Weichselbaum, head of the Federal Programs in Baja California explained that 12,000 people will be consulted in Mulegé to carry out the consultation of El Boleo. The Argentine Embassy in Mexico along with the Ministry of Mining of that country carried out a working seminar with the Mexican company Baluarte Minero (Industrias Peñoles and Fresnillo PLC). The consultation for the nationalization of lithium, proposed by President Andrés Manuel López Obrador, is not necessary, since, it is already owned by Mexico. ON EXPLORATION, In Sonora, Tocvan and its JV partner Colibri reported drill results from its the El Pilar project, and Tarachi started a second drilling program on its San Javier mining concession at La Colorada gold bearing breccia pipe. In Chihuahua, Mammoth reported results from an additional 1.7km of 3D geophysical modeling conducted at its Tenoriba project. In Nayarit, Sierra Madre provided an update on the activities developed at its Tepic project. ON MINING, no relevant news. ON FINANCING, Azucar granted stock options to certain directors and officers of the company (El Cobre project, Veracruz). Advance Gold closed a private placement financing for gross proceeds of $200K (Tabasqueña project, Zacatecas). ON RESOURCES AND DEVELOPMENT, Almaden completed a surface induced polarization geophysical (IP) program at its Ixtaca project in Puebla. GoGold released results from eight drill holes collared at its Los Ricos project in Jalisco. Silver Viper filed on SEDAR a NI 43-101 technical report supporting the maiden mineral resource estimate for its La Virginia project in Sonora. Torex released an updated mineral resource estimate for its media Luna project in Guerrero. Zacatecas Silver announced positive preliminary metallurgical test results from its Zacatecas Silver property. Excellon filed on SEDAR an independent NI 43-101 technical report for its La Platosa mine in Durango. Ridgestone announced that it filed on SEDAR a NI 43-101 technical report for its Guadalupe y Calvo project in Chihuahua.    ON DEALS AND CORPORATE ISSUES, SilverCrest presented results of its annual general meeting of shareholders (Las Chispas project, Sonora).    ON SOCIAL RESPONSIBILITY, Peñoles community center received population from 40 to 49 years for anticovid vaccine in Torreón. Peñoles and Fresnillo plc announced that they are training young Mexicans in seven states.

ON MEXICO ISSUES

  • Dhipna Yanssen Weichselbaum, head of the Federal Programs in Baja California explained that 12,000 people will be consulted in Mulegé to carry out the consultation of El Boleo. the procedure will consist of 2 phases: one is the publication of the call to know the expansion of the MIA project and then the citizen consultation that will take place in the communities of Santa Rosalía and San Ignacio, among others, which are related to the El Boleo mining company.
  • The Argentine Embassy in Mexico along with the Ministry of Mining of that country carried out a working seminar with the Mexican company Baluarte Minero (Industrias Peñoles and Fresnillo PLC). The group’s interest was particularly focused on the provinces of Neuquén, Rio Negro, Salta, Mendoza and San Juan, where Mexican businessmen expressed their intention to evaluate the possibility of investing in mining projects in the region. Technical experts and professionals from Baluarte Minero were informed about prospects for gold, silver, copper, potassium and lithium in Argentina.
  • According to experts of the Association of Mining Engineers, Metallurgists and Geologists of Mexico (AIMMGM), the consultation for the nationalization of lithium, proposed by President Andrés Manuel López Obrador, is not necessary, since, it is already owned by Mexico. Article 27 of the constitution clearly states that all mineral deposits that are in Mexican territory are property of the Nation, so it would not be necessary to nationalize lithium.

ON EXPLORATION

  • Tocvan Ventures Corp., and its JV partner Colibri Resource Corporation reported drill results from four RC holes collared at its the El Pilar project in Sonora. Highlights includes a drill intersection of 0.66 g/t Au over a length of 35.1m in hole JES-21-43 drilled at the Main Zone. This drill intercept includes 1.7 g/t Au over 13.7m, including 6.8 g/t Au and 7 g/t Ag over 3.1m. Tocvan is currently completing 3,500m of RC drilling in 20 holes comprising its Phase II program at Pilar. Thirteen RC holes are still pending of assay results.
  • Tarachi Gold Corp., started a second drilling program on its San Javier mining concession at La Colorada gold bearing breccia pipe. The plan is to drill four holes down-dip of the breccia pipe to test the continuity of the positive results encountered from the 2020 drill program performed at the property, which returned high grade intersections.
  • Mammoth Resources Corp., reported results from an additional 1.7km of 3D geophysical modeling conducted at its Tenoriba project in Chihuahua. “This additional 3D modelling shows similar strong correlation between IP/Mag  geophysical features and anomalous surface gold-in-soil, chips and channel samples together with numerous gold intervals in diamond drilling and extends these coincident features over this additional 1.7Km of a total of 4km of IP/Mag coverage over a larger 6km east-west trend of surface gold-silver mineralization at Tenoriba”.
  • Sierra Madre Gold and Silver Ltd., provided an update on the activities developed at its Tepic project in Nayarit. The company has already drilled over 80% of the 2,000m and is expected to be completed soon. This is part of the 20 RC holes panned for its phase 1 drilling program. RC drill results will be released once assaying is completed. Sierra Madre is preparing new drill permits to conduct a Phase 2 drill program for additional 100-200 holes. The company also has commenced a 2,700m Phase 1 trenching program for the central project area. It will help to provide information to consider designing the Phase 2 drill program. The company also announced that, mapping and sampling continue in the northern and eastern project areas with an emphasis on prospecting arroyos and creek beds for signs of mineralization.

ON MINING

  • No relevant news.

ON FINANCING

  • Azucar Minerals Ltd., granted stock options to certain directors and officers of the company to purchase an aggregate of 413K common shares at an exercise price of $0.13 per share which expire on June 14, 2023 (El Cobre project, Veracruz).
  • Advance Gold Corp., closed a private placement financing for gross proceeds of $200K. The company plans to use the proceeds to advance their lithium-potassium boron prospective salars in central Mexico and for general corporate purposes.

ON RESOURCES AND DEVELOPMENT

  • Almaden Minerals Ltd., completed a surface induced polarization geophysical (IP) program at its Ixtaca project in Puebla. The IP results are being processed and combined with geological, geochemical and geophysical data collected in the past to outline drill targets beneath the Southeast Alteration Zone and at depth beneath the Ixtaca deposit.
  • GoGold Resources Inc., released results from eight drill holes collared at the Casados deposit at its Los Ricos North project in Jalisco. The most significant drill intersection was encountered in hole LRGCS-21-043 with 0.12 g/t Au and 270 g/t Ag (3.72 g/t AuEq or 279 g/t AgEq) over 0.9m, plus 0.46 g/t Au and 135 g/t Ag (2.25 g/t AuEq or 169 g/t AgEq) over 0.46m, plus 0.43 g/t Au and 132 g/t Ag (2.19 g/t AuEq or 164 g/t AgEq) over 33.6m, including 0.88 g/t Au and 270 g/t Ag (4.48 g/t AuEq or 336 g/t AgEq) over 15.3m, including 1.78 g/t Au and 539 g/t Ag (8.97 g/t AuEq or 673 g/t AgEq) over 6.7m, including 3.77 g/t Au and 930 g/t Ag (16.17 g/t AuEq or 1,213 g/t AgEq) over 1.9m.
  • Silver Viper Minerals Corp., filed on SEDAR a NI 43-101 technical report supporting the maiden mineral resource estimate for its La Virginia project in Sonora. El Rubi Zone contains an indicated resource of 6,179,000 tonnes of 0.78 g/t Au and 35 g/t Ag for 154.3K Oz Au and 6.93M Oz Ag, and inferred resources of 3,255,000 tonnes of 0.9 g/t Au and 36 g/t Ag for 94.1K Oz Au and 3.75M Oz Ag in open pit category. Virginia, El Oriental, Las Huatas and Las Huatas South add and inferred resource of 6,622,000 tonnes of 0.71 g/t Au and 41 g/t Ag for 152.2K Oz Au and 8.74M Oz Ag in open pit category, and 277K tonnes of 1.92 g/t Au and 62 g/t Ag for an additional 14K Oz Au and 451.5K Oz Ag in the underground category. Gold and Silver Equivalents for Indicated resource equal 253,286 Oz AuEq or 17,730,000 Oz AgEq. Gold and Silver Equivalents for Inferred resource equal 445,176 Oz AuEq or 31,162,300 Oz AgEq.
  • Torex Gold Resources Inc., released an updated mineral resource estimate for its media Luna project in Guerrero. Torex reported indicated resources for 20.9M tonnes of 3.21 g/t Au, 32 g/t Ag, and 1.07% Cu (5.27 g/t AuEq) to contain 2.15M Oz Au, 21.3M Oz Ag, and 492M Lb Cu (3.54M Oz AuEq), and inferred resources for 18.9M tonnes of 2.11 g/t Au, 28 g/t Ag, and 1.04% Cu (4.08 g/t AuEq) to contain 1.28M Oz Au, 17.1M Oz Ag, and 431M Lb Cu (2.48M Oz AuEq).
  • Zacatecas Silver Corp., announced positive preliminary metallurgical test results from its Zacatecas Silver property, for both bulk flotation and sequential flotation recovery options,  with the bulk floatation flow-path producing a single gold, silver, lead and zinc rougher concentrate (15 minutes of floatation and 23% mass pull) with 697 g/t silver, 0.97 g/t gold, 1.67% zinc and 0.58% lead and recovering 96.2 % of the silver, 93.6% of the gold, 96.5% of the zinc and 92.1 % of the lead.
  • Excellon Resources Inc., filed on SEDAR an independent NI 43-101 technical report. This technical report documents a mineral resource statement for the Platosa Mine in Durango. The company reported measured + indicated resources for 317K tonnes of 485 g/t Ag, 5.3% Pb, and 5.5% Zn to contain 4.9M Oz Ag, 36.79M Lb Pb, and 38.78M Lb Zn, and inferred resources for 42K tonnes of 749 g/t Ag, 4.3% Pb, and 5.4% Zn to contain 1M Oz Ag, 4M Lb Pb, and 5M Lb Zn.
  • Ridgestone Mining Inc., announced that it filed on SEDAR a NI 43-101 technical report to support the maiden mineral resource estimate for its Guadalupe y Calvo project in Chihuahua. Ridgestone reported indicated resources for 6,427,444 tonnes of 50 g/t Ag and 1.05 g/t Au (1.72 g/t AuEq) to contain 10.43M Oz Ag and 217K Oz Au (356K Oz AuEq), and inferred resources for 3,074,146 tonnes of 94 g/t Ag and 3.4 g/t Au (4.65 g/t AuEq) to contain 9.3M Oz Ag and 335.6K Oz Au (460K Oz AuEq).

ON DEALS AND CORPORATE ISSUES

  • SilverCrest Metals Inc., presented results of its annual general meeting of shareholders held in Vancouver, BC, Canada (Las Chispas project, Sonora). 

ON SOCIAL RESPONSIBILITY

  • Industrias Peñoles S.A.B. de C.V., community center received population from 40 to 49 years and pregnant women of more than nine weeks of gestation for anticovid vaccine in Torreón. The inoculation is carried out by personnel of the General Hospital of the Zone from the Mexican Social Security Institute  # 18 (IMSS) as well as nurses from said mining company.
  • Industrias Peñoles S.A.B. de C.V., and Fresnillo plc announced that they are training young Mexicans in seven states. Both companies recognize that education plays an important role in people’s lives, because it provides them with new tools that contribute to improve their quality of life. In this sense, they teach specialized courses for girls, children and young people in various areas such as science, technology, engineering, human development, health, entrepreneurship and children’s literacy, among others.

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 quartz vein-bx in a low sulphidation epithermal system in a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Second Week of June, 2021

By Jorge Cirett

During the 23rd week of the year (June 7th to June 13th, 2021), at least 25 press releases were announced by companies working in Mexico. To note, six companies posted exploration advances on their properties, three posted on financing ($2.6M, $1.43 M, C$11.5 M) and one on a debt settlement with shares, six more on project development or resource definition and three posted on deals or corporate issues. ON MEXICO ISSUES, The bodies of seven miners killed on a coal mine collapse in Coahuila have been recovered. ON EXPLORATION, in Baja, Comet Resources commenced a drill program at Santa Teresa. In Sonora, Minaurum is re-commencing drilling at its Alamos Silver project; Silver Spruce commenced phase II ground exploration at Jackie; Tarachi Gold released RC drilling results from La Dura mine at its Tarachi project. Radius gold released ground exploration results from Maricela. In Sinaloa, Kootenay Silver released good drilling results at Copalito.  ON MINING, no relevant news. ON FINANCING, Santacruz Silver settled a C$4.5 M debt by issuing shares to debtors. Three companies informed on financing rounds: Silver Viper Minerals ($1.4 M, aggregate $6 M), Mammoth Resources ($2.6 M) and Defiance Silver (C$11.5 M). ON RESOURCES AND DEVELOPMENT, GR Silver Mining reported drill results from Plomosas, in Sinaloa. Endeavour Silver released high-grade intercepts at Terronera, Jalisco. Advance Gold released (low) lithium drilling results from the Saldivar Salar in San Luis Potosi. GoGold Resources reported drilling results from Los Ricos North in Jalisco. Golden Tag Resources released drilling results from a bulk tonnage target at San Diego, Durango. Golden Minerals reported assay results from expansion drilling at Rodeo, Durango.  ON DEALS AND CORPORATE ISSUES, Millrock Resources and Tocvan Ventures signed a letter of commitment in relation to El Picacho project in Sonora. Telson Mining completed its change name to Altaley Mining. VanGold Mining announced its name change to Guanajuato Mining. ON SOCIAL RESPONSIBILITY, Peñoles and Fresnillo PLC informed on actions the companies realize to help the environment. Mazapil inhabitants evaluated the water quality they receive with Minera Peñasquito support.

ON MEXICO ISSUES

  • The bodies of six of seven miners have been recovered after the collapse of a coal mine in Coahuila.
  • Luisa María Alcalde, head of the Secretariat of Work and Social Prevision informed the mine collapse in Coahuila that caused several fatalities was due to strong rains in the region.

ON EXPLORATION

  • Kootenay Silver Inc. released results from five holes at its Copalito project in Sinaloa. The holes are from the 5 Señores vein, which has now been tested on 600 m of its 1 km known extension. Highlighted core length results comprise 35 m @ 75 gpt Ag, 0.6 gpt Au, 0.1% Pb+Zn (126 gpt AgEq) which include 1.70 m @ 43 gpt Ag, 2.56 gpt Au, 0.8% Pb+Zn (218 gpt Ag) and 1.31 m @ 264 gpt Ag, 0.23 gpt Au, 2.3% Pb+Zn (326 gpt AgEq); 19.43 m @ 218 gpt Ag, 0.83 gpt Au, 1.5% Pb+Zn (306 gpt AgEq) including 7.97 m @ 330 gpt Ag, 1.23 gpt Au, 2.0% Pb+Zn (456 gpt AgEq); 15.0 m @ 61 gpt Ag, 0.75 gpt Au, 0.4% Pb+Zn (119 gpt Ag) including 2.0 m @ 220 gpt Ag, 3.79 gpt Au, 0.4% Pb+Zn (475 gpt AgEq); 12.0 m @ 66 gpt Ag, 0.17 gpt Au, 0.8% Pb+Zn (96 gpt AgEq) including 2.20 m @ 241 gpt Ag, 0.42 gpt Au, 0.8% Pb+Zn (289 gpt AgEq); 10.0 m @ 65 gpt Ag, 0.11 gpt Au, 0.3% Pb+Zn (79 gpt AgEq) including 1.68 m @ 210 gpt Ag, 0.45 gpt Au, 0.4% Pb+Zn (248 gpt AgEq).
  • Minaurum Gold Inc. informed on rig mobilization to its Alamos silver property in Sonora. “Drilling will focus on defining emerging silver shoots in previously explored veins as well as discovering new shoots in underexplored veins. Drill targets will be 100- to 150-metre step-outs of, up- and down-dip, and along-strike of mineralized vein zones, with allowances made for plunging shoots. Minaurum is also continuing reconnaissance work to the south and west in the Alamos project to develop new target veins for later drilling”. Some of the zones to be tested include the Europa-Guadalupe, San José, Minas Nuevas, Alessandra, Ana, Promontorio, Púlpito and Cotera.
  • Comet Resources Ltd. Commenced a 2,000 m diamond drilling program at Santa Teresa, in Baja California. This is the first drilling program since Premier Gold tested the property in 2008.
  • Radius Gold Inc. defined high grade and bulk tonnage targets at its Maricela project in Sonora. Rock chip sampling returned up to 3 m @ 4.46 gpt Au, 1,335 gpt Ag; 22.0 m @ 0.15 gpt Au, 39 gpt Ag; 4 m @ 1.23 gpt Au, 111 gpt Ag at Baby Gloria, 25.3 m @0.31 gpt Au, 62 gpt Ag; 10 m @ 0.62 gpt Au, 142 gpt Ag at Virgen de Plata, 4 m @ 0.45 gpt Au, 98 gpt Ag; 10.5 m @ 0.50 gpt Au, 105 gpt Ag at EL Arco; 6 m @ 1.03 gpt Au, 417 gpt Ag at Central. “The project hosts an epithermal silver & gold mineralized vein system extending approximately 1.5km long by 300m wide, within which occurs multiple veins, stockworks and breccias which at intersections have exposed widths +25 meters. Recent mapping and sampling (273 rock chips) identified 6 major veins with combined strike approximately of 5km”.
  • Silver Spruce Resources Inc. commenced phase II ground exploration at the 1,130 ha Jackie property in Sonora. “The work will be performed on a 100-hectare section of the Property with grid-controlled detailed geological mapping and rock sampling focused on a 25-hectare central block covering the core of the gold and silver discovery area with additional wider spaced grid mapping of the surrounding area”.
  • Tarachi Gold Corp. released results from surface reverse circulation holes drilled on La Dura mine within the Jabali concession at the Tarachi project in Sonora. Highlighted hole-length intervals comprise 3.0 m @ 0.63 gpt Au, 9.0 m @ 0.22 gpt Au, 3.0 m @ 0.37 gpt Au, 3.0 m @ 2.35 gpt Au; 1.50 m @ 1.56 GPT Au; 12.0 m @ 7.26 gpt Au (including 6.0 m @ 12.2 gpt Au); 3.0 m @ 1.68 gpt Au, 12.0 m @ 0.23 gpt Au. “The drill program tested the down-dip and potential southern plunge in areas of known gold bearing structures”. 

ON MINING

  • No relevant news.

ON FINANCING

  • Santacruz Silver Mining Ltd. announced the settling of a debt of C$4.47 M by issuing 10.3 M shares to Empresa Minera Manquiri S.A. and Minas Guilloyna S.A. de C.V. (Zimapan, Hidalgo).
  • Mammoth Resources Corp. closed its previously announced oversubscribed non-brokered private placement financing to raise up to $2.6 M in gross proceeds (Tenoriba, Chihuahua).
  • Silver Viper Minerals Corp. closed the final tranche of its non-brokered private placement for aggregate proceeds of $1.43 M. Aggregate profits under the offering were $6 M (La Virginia, Sonora).
  • Defiance Silver Corp. closed the previously announced brokered private placement for Gross proceeds of C$11.5 M (San Acacio, Zacatecas; Tepal, Michoacan).

ON RESOURCES AND DEVELOPMENT

  • GR Silver Mining Ltd. reported drill results from the Plomosas project in Sinaloa. Highlighted true width (TW) intercepts on the northern portion of the Plomosas mine area of polymetallic hydrothermal breccia comprise 16.2 m @ 75 gpt Ag, 0.25 Au, 0.7% Pb, 0.8% Zn, 0.1% Cu (including 5.8 m @ 171 gpt Ag, 0.41 gpt Au, 1.1% Pb, 0.7% Zn, 0.2% Cu); 7.6 m @ 227 gpt Ag, 0.27 gpt Au, 1.7% Pb, 1.4% Zn, 0.1% Cu; 10.7 m @ 12 gpt Ag, 2.48 gpt Au, 1.1% Pb, 1.5% Zn (including 1.5 m @ 17 gpt Ag, 15.81 gpt Au, 1.1% Pb, 3.9% Zn); 3.6 m @ 100 gpt Ag, 0.14 gpt Au, 0.2% Pb, 1.1% Zn, 0.5% Cu; 21.0 m @ 25 gpt Ag, 0.67 gpt Au, 1.6% Pb, 2.4% Zn, 0.1% Cu).
  • Endeavour Silver Corp. announced high-grade intercepts in a number of structures near the Terronera vein at Terronera, Jalisco. True width intercepts comprise 1.12 m @ 0.32 gpt Au, 170 gpt Ag; 2.14 m @ 3.97 gpt Au, 73 gpt Ag; 5.59 m @ 2.17 gpt Au, 177 gpt Ag; 1.35 m @ 9.78 gpt Au, 214 gpt Ag at San Simón, 1.41 m @ 2.20 gpt Au, 54 gpt Ag; 2.88 m @ 6.05 gpt Au, 1,056 gpt Ag; 1.98 m @ 3.38 gpt Au, 347 gpt Ag; 1.39 m @ 2.04 gpt Au, 66 gpt Ag at Fresno, 1.08 m @ 2.63 gpt Au, 25 gpt Ag at Lindero, 1.08 m @ 1.09 gpt Au, 445 gpt Ag at Pendencia, and 1.95 m @ 9.52 gpt Au, 148 gpt Ag; 1.07 m @ 2.81 gpt Au, 54 gpt Ag at Los Cuates.
  • Advance Gold Corp. announced results from four core holes at its Saldivar Salar in San Luis Potosí. One hole averaged 84 m @ 136 ppm Li (232 ppm peak value), 225 ppm B, 1.3 % K; a second hole averaged 77 m @ 142 ppm Li (229 ppm peak value), 213 ppm B, 1.3% K; a third hole averaged 53 m @ 130 ppm Li (214 ppm peak value), 230 ppm B, 1.2% K; a fourth hole returned 50 m @ 137 ppm Li (231 ppm peak value), 226 ppm B, 1.4% K. 
  • GoGold Resources Inc. released results from drilling on El Orito prospect at it Los Ricos North project in Jalisco. Highlighted core length intersections comprise 9.5 m @ 20 gpt Ag, 0.03 gpt Au, 0.10% Cu, 0.3% Pb, 0.7% Zn; 12.4 m @ 38 gpt Ag, 0.08 gpt Au, 0.23% Cu, 2.1% Pb, 3.8% Zn (including 2.6 m @ 93 gpt Ag, 0.09 gpt Au, 0.61% Cu, 5.3% Pb, 9.9% Zn); 3.0 m @ 222 gpt Ag, 1.93 gpt Au, 0.29% Cu, 2.7% Pb, 0.1% Zn; 44.3 m @ 23 gpt Ag, 0.04 gpt Au, 0.08% Cu, 0.7% Pb, 1.2% Zn (including 4.9 m @ 44 gpt Ag, 0.16 gpt Au, 0.16% Cu, 2.5% Pb, 3.5% Zn); 26.6 m @ 14 gpt Ag, 0.04 gpt Au, 0.07% Cu, 1.1% Pb, 1.3% Zn (including 5.1 m @ 38 gpt Ag, 0.17 gpt Au, 0.20% Cu, 4.5% Pb, 1.9% Zn); 29.4 m @ 36 gpt Ag, 0.06 gpt Au, 0.23% Cu, 2.2% Pb, 4.1% Zn; (including 6.3 m @ 90 gpt Ag, 0.09 gpt Au, 0.65% Cu, 5.2% Pb, 9.5% Zn); 23.0 m @ 61 gpt Ag, 0.08 gpt Au, 0.40% Cu, 2.4% Pb, 4.9% Zn; 58.0 m @ 31 gpt Ag, 0.04 gpt Au, 0.19% Cu, 1.2% Pb, 2.6% Zn. “mineralization averaging approximately 30m in width for more than 700m in strike length and up to approximately 300m in vertical depth from surface and is open in all directions….. The known strike length of the El Orito – El Favor structure is now approaching 2,500 meters and is still open in both directions”.
  • Golden Tag Resources Ltd. released results from a diamond hole at the Trovador zone of its San Diego project in Durango. Highlighted results comprise 8.40 m @ 0.58 gpt Au, 30 gpt Ag, 0.3% Pb, 0.4% Zn, 0.09% Cu; 86.64 m @ 0.03 gpt Au, 39 gpt Ag, 0.9% Pb, 0.6% Zn; 169.83 m @ 0.04 gpt Au, 32 gpt Ag, 0.6% Pb, 0.8% Zn, 0.05% Cu (including 14.47 m @ 0.03 gpt Au, 81 gpt Ag, 1.9% Pb, 2.2% Zn, 0.12% Cu); 116.45 m @ 0.03 gpt Au, 42 gpt Ag, 0.6% Pb, 0.7% Zn; 2.71 m @ 0.05 gpt Au, 97 gpt Ag, 0.5% Pb, 3.1% Zn, 0.35% Cu.
  • Golden Minerals Co. released initial results from its expansion drill program at its Rodeo open pit mine in Durango. Highlighted results comprise 14.65 m @ 3.94 gpt Au, 8 gpt Ag; 9.30 m @ 5.38 gpt Au, 10 gpt Ag; 3.70 m @ 7.02 gpt Au, 21 gpt Ag (including 0.90 m @ 21.09 gpt Au, 50 gpt Ag); 13.75 m @ 2.64 gpt Au, 10 gpt Ag, 6.35 m @ 1.41 gpt Au, 36 gpt Ag; 3.80 m @ 2.69 gpt Au, 26 gpt Ag.
  • GR Silver Mining Ltd. reported drill results from high-grade epithermal veining from La Colorada and San Juan veins at Plomosas, Sinaloa. Highlighted core length intervals comprise 9.0 m @ 710 gpt Ag, 1.82 gpt Au, 1.1% Pb, 0.3% Zn, 0.1% Cu (including 0.7 m @ 8,519 gpt Ag, 18.77 gpt Au, 8.9% Pb, 0.7% Zn, 0.2% Cu); 33.0 m @ 20 gpt Ag, 0.11 gpt Au, 0.5% Pb, 0.3% Zn; 11.1 m @ 139 gpt Ag, 0.69 gpt Au, 0.1% Pb, 0.2% Zn; 7.0 m @ 341 gpt Ag, 1.00 gpt Au, 0.2% Pb, p.6% Zn; 2.1 m @ 480 gpt Ag, 0.05 gpt Au, 0.2% Pb, 0.2% Zn. “The La Colorada vein is a hydrothermal breccia that contains Au-Ag-Pb-Zn values in a mineralized quartz and hematite matrix. It is hosted in andesite and ignimbrite country rock. Sphalerite, galena and acanthite (Ag-bearing mineral) are found in the quartz veins.”.

ON DEALS AND CORPORATE ISSUES

  • Millrock Resources Inc. signed a letter of commitment with Tocvan Ventures Corp. in relation to 2,414 ha El Picacho gold project in Sonora, west of the San Francisco mine. Tocvan must make make cash payments of US$2 M to the underlying concession owners over a five-year term to acquire 100% interest in the project, pay back taxes and Millrock is to retain a 2% NSR, of Which Tocvan may purchase back 1% for US$1 M.
  • Telson Mining Corp. is completing its name change to Altaley Mining Corp. on June 11, 2021 (Campo Morado, Guerrero).
  • VanGold Mining Corp. announced the name change to Guanajuato Mining Corp. to be effective from June 10, 2021 (El Cubo and El Pinguico, Guanajuato).

ON SOCIAL RESPONSIBILITY

  • Peñoles and Fresnillo PLC informed on actions the companies realize to help the environment.
  • Mesas Mazapil inhabitants informed on the supervision they do on the water source delivered by Minera Peñasquito.

On the image below:  Felsic volcanic rocks autobreccia with hematite rich matrix in Sinaloa. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of May, 2021

By Jorge Cirett

During the 21st week of the year (May 24th to May 30th, 2021), at least 33 press releases were announced by companies working in Mexico. To note, seven companies posted exploration advances on their properties, three presented mining related news, seven posted on financing (C$6M, $60 M, C$5 M, C$10 M, $2.6 M, $C$11.5 M) and one on share distribution, six more on project development or resource definition and two posted on corporate issues. ON MEXICO ISSUES, CanCham complained on the lack of clear policies and opacity on the rule of law that are affecting Canadian investments in Mexico.  The push from the Mexican government to create an institution to manage the lithium industry from the optics of sovereignty sees opposition from the mining industry, and reality. Camimex released a list of mining investments to be realized in the next few years, amounting to several billion dollars. ON EXPLORATION, in Sonora, Ridgestone Mining applied for drilling permits at Rebeico. Tocvan Ventures released results from drilling at Pilar. In Chihuahua, Kootenay Silver released high-grade results from drilling at Columba. In Durango, Mithril Resources, updated on drilling at Copalquin. In Sinaloa, Riverside Resources released surface sample results; Vizsla Silver informed on geophysical results supported by drilling, and more surveys to come; Brigadier Gold discovered bulk tonnage copper mineralization in trenching of soil anomalies. ON MINING, Impact Silver and Telson Mining presented Q1 2021 results. Magna Gold informed it has exceeded 3 M man-hours of work without lost-time incidents. ON FINANCING, Silver Bull Resources is to distribute 34.2 M shares of Arras Minerals among its shareholders. Six companies informed on financing rounds: Silver Viper Minerals (C$6 M), Vizsla Silver ($60 M), Reyna Silver (C$5 M), Sable Resources (C$10M, Defiance Silver (C$11.5 M) and Mammoth Resources ($2.58 M). ON RESOURCES AND DEVELOPMENT, Prime Mining released drilling results from Los Reyes. GR Silver Mining reported near surface drill results from Plomosas. GoGold Resources released drilling results from the Casados deposit at Los Ricos North. Discovery Silver released results from 12 drill holes targeting high-grade vein trends at Cordero. Sailfish Royalty filed a technical report with a new resource estimate for Gavilanes. Discovery Silver updated on exploration at Cordero, with 75,000 m of drilling completed on 178 holes, and four drills continuing the phase 2 program. Golden Tag announced the discovery of a shallow zone of epithermal mineralization at San Diego.   ON DEALS AND CORPORATE ISSUES, Mexus Gold informed Fresnillo PLC is reviewing its Santa Elena mine. Riverside Resources announced BHP is funding a third year of generative work in Sonora. ON SOCIAL RESPONSIBILITY, Peñoles and Fresnillo PLC informed on their policies and programs to aid in education on a wide range of communities. Minera San Xavier informed Cerro San Pedro in San Luis Potosi has been declared as “Cyanide Free Site” by the International Cyanide Management Institute.

ON MEXICO ISSUES

  • CanCham (Cámara de Comercio de Canadá en México) pointed out that the lack of clear policies and the opacity on rule of law is affecting Canadian investments, which show an 18% decrement in the last year, holding the investment of thousands of millions (Mexican number notation) of dollars in the energy, mining, pharmaceutical and agricultural sectors. These remarks were expressed by Enrique Zorrilla, Cancham’s president, in the meeting between the Commerce ministers of Mexico, Canada and the United States.
  • Mexico is preparing its strategy to develop the lithium market. The federal government intends to become a lithium producer by controlling several deposits, Bolivia’s advice and a commerce treatise to facilitate establishing an electric battery factory. The current government senate fraction is preparing a proposal to create the Instituto Nacional del Litio. (Lithium National Institute) and to declare lithium as Nation’s exclusive property (Note. – This federal initiative push misses the point that so far there is not a single lithium mine in Mexico, that its lithium in brines potential is limited at best, and that the economics of lithium extraction from clays -like in the Bacanora Lithium’s deposit in Sonora- is not yet clear).
  • Fernando Alanís, president of Camimex (Cámara Minera de México) informed that lithium deposits in Mexico have a very low grade, and lack the technology for its extraction, reason for which the country is far from becoming a world power in lithium production. Lithium presents in three kind of deposits: hard rock (pegmatites), brines (from salt lakes) and clays. Rock and brine lithium extraction accounts for 100% of the world production, whereas the extraction of lithium from clays is very energy intensive and expensive, not having a single producing mine in the entire planet.
  • Camimex released a table with the Mexican Mining Developments programmed for the next few years, same that reach US$7,820 Million in investment (Mexican number notation, equivalent to US$7.8 billion).

ON EXPLORATION

  • Mithril Resources Ltd. provided an update on drilling at its Copalquin project in Durango. The current program main focus is to extend the Refugio ore shoot down dip (presently 600 m along strike, 200 m down dip, 5 m in width), maiden drilling at Los Pinos target, extend three holes and deep exploration drilling at La Soledad and extend near-surface intercepts at El Cometa.
  • Ridgestone Mining Inc. commenced permitting for drill programs at Guadalupe y Calvo, Chihuahua, and Rebeico, Sonora.
  • Riverside Resources Inc. reported surface sample results from its La Silla project in Sinaloa. The highlighted samples from the El Ciruelo and El Roble targets returned 6.1 gpt Au, 80 gpt Ag; 5.6 gpt Au, 81 gpt Ag; 4.4 gpt Au, 35 gpt Ag; 3.5 gpt Au, 26 gpt Ag; 3.3 gpt Au, 20 gpt Ag; 2.6 gpt Au, 41 gpt Ag, on quartz veining, gossanous breccia and strongly oxidized andesite. El Ciruelo target extends for at least 1 km with a 1-5 m wide chalcedonic vein zone. El Roble vein extends for at least 300 m, reaching up to 2 m in width, with mineralization occurring also in the host rock.
  • Vizsla Silver Corp. provided an update on the recently completed geophysical survey completed at Panuco, in Sinaloa. A fixed loop electromagnetics (FLEM, or EM) was trialed and detected massive sulfide mineralization on the Napoleon and Josephine veins, proved with three massive sulfide intercepts in the latter. The Josephine vein has no known surface expression and runs parallel to the west of the main Napoleon trend. Mineralization at Tajitos is not related to massive sulfides and was not detected with EM. Vizsla is planning a property wide airborne EM-magnetic survey at Panuco.
  • Kootenay Silver Inc. announced high-grade results from the 5,000 m core drill program currently underway at Columba, Chihuahua. Highlighted core length intervals in the Hanging-Wall, F, and Footwall veins comprise 1.55 m @ 189 gpt Ag, 0.1%Pb, 0.2% Zn; 1.0 m @ 104 gpt Ag, 0.1% Zn; 2.44 m @ 217 gpt Ag, 0.1% Pb, 0.1% Zn; 2.94 m @ 321 gpt Ag, 0.2% Pb, 0.6% Zn (including 1.94 m @ 428 gpt Ag, 0.3% Pb, 0.7% Zn); 8.0 m @ 130 gpt Ag, 0.1% Pb, 0.2% Zn (including 2.9 m @ 265 gpt Ag, 0.1% Pb, 0.5% Zn); 1.95 m @ 104 gpt Ag, 0.1% Pb, 0.1% Zn; 9.0 m @ 354 gpt Ag, 0.1% Pb, 0.4% Zn (including 2.63 m @ 809 gpt Ag, 0.3% Pb, 0.4% Zn); 30.0 m @ 86 gpt Ag (including 2.37 m @ 425 gpt Ag, 0.2% Zn).
  • Brigadier Gold Ltd. announced the discovery of bulk tonnage type copper mineralization at its Picachos project in Sinaloa. Fifty meters on trenching of historic copper anomalies has returned XRF copper values ranging from 0.05 to 1.34% Cu and 20 to 284 ppm Ag. Brigadier has also completed mapping and sampling of the historic La Gloria mine, where a drill hole intercepted 1.0 m @ 6.26 gpt Au.
  • Tocvan Ventures Corp. released results for the first three holes of its phase-II drill program at Pilar, in Sonora. The drill program consists of 2,900 m of reverse circulation drilling in 17 holes, of which 14 are pending results. Highlighted down-hole intercepts comprise 29 m @ 0.71 gpt Au (including 6.1 m @ 1.9 gpt Au); 24.4 m @ 0.56 gpt Au (including 9.2 m @ 1.3 gpt Au, 14 gpt Ag); 6.1 m @ 0.48 gpt Au, 4 gpt Ag; 4.6 m @ 0.50 gpt Au, 11 gpt Ag.

ON MINING

  • Impact Silver Corp. presented its financial and operating results of Q1 2021. During the period 36.4 K tonnes were processed @ 162 gpt Ag to produce 156.9 K Oz Ag. “continued exploration on the north and south extensions of the Veta Negra Mine, trenching on the bulk tonnage gold target at Manto America in the central part of the district and exploration on the northwest (Pachuqueno) extensions of the Guadalupe Mine”.
  • Magna Gold Corp. has exceeded 3 M man-hours of work without lost-time incidents within all its operations, including contractors and suppliers. The last lost-time incident was in 2018, and the mine has not had a fatal accident in its 11 years history.
  • Telson Mining Corp. presented its first quarter 2021 financial and operating results. At Campo Morado in Guerrero, 174.4 K tonnes were processed to produce 11,013 tonnes Zn (74% Zn recovery), 1,908 tonnes Pb at cash cost $0.70 per Lb Zn and AISC of $0.90 per Lb Zn. During the period gross revenue was $21.2 M (Q1 2020: $19.0 M) and mine operating profit $5.25 M (Q1 2020: $0.26 M loss).

ON FINANCING

  • Silver Bull Resources Inc. announced its intent to distribute 34.2 M shares of Arras Minerals Corp. to Silver Bull shareholders. Silver Bull transferred mineral properties in Kazakhstan and received 36 M shares of Arras in return, making Arras an approximately 88%-owned subsidiary of Silver Bull (Sierra Mojada, Coahuila).
  • Silver Viper Minerals Corp. intends to undertake a non-brokered private placement financing to raise aggregate gross proceeds of up to C$6 M (La Virginia, Sonora).
  • Vizsla Silver Corp. entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters to buy units of the company for gross proceeds of $60 M (Panuco, Sinaloa).
  • Reyna Silver Corp. entered into an agreement with Eight Capital and Red Cloud Securities Inc. in connection with a private placement intended to raise up to C$5 M (Guigui and Batopilas, Chihuahua).
  • Sable Resources Ltd. entered into an agreement with Sprott Capital Partners LP and Eight Capital in connection with a bought deal private placement financing to raise up to C$10 M (Vinata, Chihuahua).
  • Mammoth Resources Corp. Announced a non-brokered private placement financing aiming to raise up to $2 M, same that by the next day had been increased to $2.58 M (Tenoriba, Chihuahua).
  • Defiance Silver Corp. has increased the size of its previously announced private placement with Red Cloud Securities Inc. for gross proceeds of up to C$11.5 M (Bolañitos and Pinguico, Guanajuato).

ON RESOURCES AND DEVELOPMENT

  • Prime Mining Corp. released additional results from its ongoing 15,000 m drill program at Los Reyes, Sinaloa. The Highlighted true width intercepts are from the Guadalupe East, Zapote South and the Estaca vein: 11.6 m @ 8.12 gpt Au, 725 gpt Ag; 5.6 m @ 11.95 gpt Au, 1,221 gpt Ag; 2.1 m @ 21.63 gpt Au, 1,960 gpt Ag; 2.0 m @ 11.17 gpt Au, 909 gpt Ag; 2.4 m @ 2.00 gpt Au, 121 gpt Ag; 1.4 m @ 10.50 gpt Au, 300 gpt Ag; 3.9 m @ 0.45 gpt Au, 37 gpt Ag; 0.6 m @ 93.80 gpt Au, 829 gpt Ag.
  • GR Silver Mining Ltd. reported near surface drill results from the Plomosas mine area in Sinaloa. Highlighted true width intervals comprise 11.9 m @ 84 gpt Ag, 2.3% Pb, 2.7% Zn, 0.1% Cu; 16.7 m @ 7 gpt Ag, 0.22 gpt Au, 0.1% Pb, 0.3% Zn; 10.8 m @ 3 gpt Ag, 0.20 gpt Au, 0.1% Pb, 0.4% Zn; 4.2 m @ 10 gpt Ag, 0.09 gpt Au, 0.1%Pb, 0.6% Zn, 0.1% Cu; 2.1 m @ 350 gpt Ag, 1.0% Pb, 0.4% Zn; 1.9 m @ 348 gpt Ag, 0.3% Pb, 0.3% Zn; 1.3 m @ 26 gpt Ag, 0.19 gpt Au, 3.3% Pb, 3.3% Zn; 1.0 m @ 128 gpt Ag, 1.00 gpt Au, 9.0% Pb, 9.7% Zn, 0.2% Cu; 2.6 m @ 45 gpt Ag, 0.60 gpt Au, 3.0% Pb, 0.9% Zn; 4.7 m @ 187 gpt Ag, 0.18 gpt Au, 2.2% Pb, 1.2% Zn, 0.1% Cu; 2.0 m @ 277 gpt Ag, 0.22 gpt Au, 0.2% Pb, 0.4% Zn; 1.9 m @ 283 gpt Ag, 0.82 gpt Au, 0.3% Pb, 1.0% Zn, 0.1% Cu.
  • GoGold Resources Inc. released results of nine holes on the Casados deposit at the Los Ricos North project in Jalisco. Highlighted core length intersects comprise 29.9 m @ 0.25 gpt Au, 70 gpt Ag; 15.5 m @ 0.27 gpt Au, 67 gpt Ag; 34.4 m @ 0.17 gpt Au, 67 gpt Ag; 5.3 m @ 0.65 gpt Au, 305 gpt Ag; 9.2 m @ 0.24 gpt Au, 109 gpt Ag (including 1.9 m @ 0.61 gpt Au, 442 gpt Ag); 60.5 m @ 0.21 gpt Au, 44 gpt Ag; 2.1 m @ 0.57 gpt Au, 322 gpt Ag; 54.1 m @ 0.37 gpt Au, 92 gpt Ag; 28.5 m @ 0.43 gpt Au, 100 gpt Ag (including 1.8 m @ 2.09 gpt Au, 418 gpt Ag); 14.0 m @ 0.46 gpt Au, 134 gpt Ag (including 5.3 m @ 1.04 gpt Au, 304 gpt Ag); 2.6 m @ 2.93 gpt Au, 610 gpt Ag.
  • Discovery Silver Corp. released results from 12 diamond drill holes testing the Josefina and Todos Santos high-grade vein trends at the Cordero project in Chihuahua. Highlighted intercepts on the Josefina vein trend comprise 41.5 m @ 97 gpt Ag, 0.04 gpt Au, 1.0% Pb, 2.5% Zn (including 4.1 m @ 520 gpt Ag, 0.11 gpt Au, 3.0% Pb, 9.8% Zn and 3.3 m @ 182 gpt Ag, 0.09 gpt Au, 3.4% Pb, 7.1% Zn); 13.1 m @ 112 gpt Ag, 0.13 gpt Au, 1.3% Pb, 2.2% Zn; 36.4 m @ 66 gpt Ag, 0.10 gpt Au, 0.3% Pb, 1.0% Zn; 87.4 m @ 38 gpt Ag, 0.06 gpt Au, 0.2% Pb, 1.0% Zn; 3.6 m @ 343 gpt Ag, 0.11 gpt Au, 1.7% Pb, 2.7% Zn; 19.3 m @ 40 gpt Ag, 0.06 gpt Au, 0.7% Pb, 1.4% Zn); 22.4 m @ 156 gpt Ag, 0.10 gpt Au, 1.7% Pb, 2.3% Zn (including 3.7 m @ 299 gpt Ag, 0.16 gpt Au, 3.9% Pb, 5.7% Zn). The Josefina vein trend includes two subparallel veins that run for 1.5 km, and has been tested to 370 m depth and remains open. The Todos Santos vein trend consists of two closely spaced veins, extends for at least 1.5 km along strike and 400 m of depth in old workings and drill holes. Highlighted intercepts comprise 62.0 m @ 19 gpt Ag, 0.28 gpt Au, 0.1% Pb, 2.0% Zn; 21.4 m @ 46 gpt Ag, 0.07 gpt Au, 0.8% Pb, 1.3% Zn; 1.9 m @ 113 gpt Ag, 0.04 gpt Au, 2.4% Pb, 3.2% Zn; 3.7 m @ 96 gpt Ag, 0.07 gpt Au, 1.8% Pb, 3.0% Zn; 2.1 m @ 160 gpt Ag, 0.27 gpt Au, 3.3% Pb, 3.6% Zn.
  • Sailfish Royalty Corp. filed a NI-43-101 technical report and estimate of mineral resources for the Gavilanes project in Durango.
  • Discovery Silver Corp. updated on its Cordero project in Chihuahua and informed that by the end of the first quarter 2021 had cash and cash equivalents for $94.7 M. At Cordero 75,000 m of drilling were completed in 178 holes in phase 1 drilling, providing information to be used in the bulk-tonnage preliminary economic assessment (PEA) underway. Phase 2 drilling continues with four rigs, focused on reserve definition, resource expansion and high-grade vein delineation. Bulk tonnage targeted drilling has returned up to 128.2 m @ 65 gpt Ag, 0.05 gpt Au, 1.2% Pb, 1.3% Zn; 131.6 m @ 48 gpt Ag, 0.09 gpt Au, 0.5% Pb, 1.1% Zn (including 37.1 m @ 119 gpt Ag, 0.22 gpt Au, 1.0% Pb, 1.2% Zn); 110.0 m @ 37 gpt Ag, 0.04 gpt Au, 0.8% Pb, 1.0% Zn; 85.6 m @ 53 gpt Ag, 0.05 gpt Au, 1.4% Pb, 1.7% Zn. Drilling on high-grade veins has returned up to 4.1 m @ 520 gpt Ag, 0.11 gpt Au, 3.0% Pb, 9.8% Zn in the Josefina vein; 4.0 m @ 377 gpt Ag, 0.28 gpt Au, 7.1% Pb, 3.4% Zn in the Todos Santos vein and 4.4 m @ 246 gpt Ag, 0.39 gpt Au, 6.5% Pb, 0.4% Zn on the Parcionera vein.
  • Golden Tag Resources Ltd. discovered a new zone of epithermal mineralization at the San Diego project in Durango. The new drill hole intercepted 10.0 m @ 0.55 gpt Au, 628 gpt Ag, 1.1% Pb, 3.6% Zn, 0.12% Cu, in a zone where previous drilling had returned 2.0 m @ 0.33 gpt Au, 161 gpt Ag, 0.3% Pb, 0.2% Zn, 0.04% Cu; 3.75 m @ 0.32 gpt Au, 125 gpt Ag, 1.5% Pb, 4.0% Zn, 0.12% Cu. “The hole intersected a series of epithermal breccias and quartz-carbonate veins within the Central Diorite intrusion from 73.0 to 92.70 m which are characterized by cavity filling banded quartz and carbonate veins with fluorite and associated sulfides comprised primarily of pyrite, sphalerite, galena, boulangerite, and arsenopyrite”.

ON DEALS AND CORPORATE ISSUES

  • Mexus Gold US. informed personnel from Fresnillo PLC is reviewing its Santa Elena mine in Sonora. The geologists are checking the potential for a disseminated deposit, as well as the quartz vein currently worked by Mexus.
  • Riverside Resources Inc. announced BHP and Riverside “have agreed on moving forward with a third year of generative funding for copper exploration in Sonora. The new budget is US$1.3 M for generative exploration work.

ON SOCIAL RESPONSIBILITY

  • Peñoles and Fresnillo PLC informed on their policies and programs to aid on education in a widespread communities.
  • Minera San Xavier has been declared as “Cyanide Free Site” by the International Cyanide Management Institute. Cerro San Pedro is the first mine in the world that has realized the dismantling process of the 110 m high heap that covers 102 hectares (1 square kilometer).

Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group. On the image below:  Quartz-tourmaline breccia from a project in Sinaloa. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of April, 2021.

Mesothermal sheeted quartz veins

By Miguel A Heredia

During the 16th week of the year (April 19th to April 25th, 2021), at least 33 press releases were announced by companies working in Mexico and 5 news published by the media, with twelve informing on exploration results, nine disclosing deals and corporate issues, five commenting on Mexican issues, four announcing financial rounds, four reporting on resources and development, three communicating production results, and one discussing social issues.  ON MEXICO ISSUES, The Ministry of Economy issued an informative note to correct what President López Obrador said about the expansion of the operations of the mining company El Boleo that operates in Baja California Sur. Fernando Alanís, president of the Mining Chamber of Mexico (Camimex), stated that the mining industry in Mexico paid MXP $30,374M in taxes during 2020. The Mining Chamber of Mexico (Camimex) stressed that mining is a tractor industry that, in addition to boosting the regional economy, supports the development of other economic activities. The Mexican mining industry called on the environmental authorities to hold a dialogue to understand the reasons why the permits are being stopped. Representatives of the Mexican Mining industry asked the federal government to reactivate mineral concessions to increase investments in the sector. ON EXPLORATION, In Baja California, One World Lithium commenced the DDH-3 drilling program at its Salar del Diablo project. In Sonora, Alamos Gold commenced an initial drilling program at Los Venados project, Silver Spruce and its partner received the approved environmental permit from SEMARNAT to drill its El Mezquite project, and Colibri released trenching sampling results from its flagship Evelyn project. In Chihuahua, Mammoth reported results from an additional 2km 3D modeling IP/Mag survey conducted at its Tenoriba project.  In Sinaloa, Kootenay provided an update on the current drilling program conducted at its Copalito project. In Durango, Mithril informed on the exploration activities carried out during Q1, 2021 at its Copalquin project. In Zacatecas, Advance Gold announced drilling results from its Tabasquena project, and Zacatecas Silver reported that it has completed first pass geological and structural mapping, and sampling of the San Gil breccia Zone at its Zacatecas Silver project. In Jalisco, GoGold released results from eight diamond holes collared at its Los Ricos North project. ON MINING, Golden Minerals reported Q1, 2021 production results from its Rodeo mine in Durango. Gold Resource announced Q1, 2021 preliminary production results from its Oaxaca Mining Unit in Oaxaca. McEwen reported the production of 1, 300 Oz AuEq (GEOs) from residual leaching at its El Gallo mine in Sinaloa during the first quarter of 2021.  ON  FINANCING, Colibri granted 1.9M incentive stock options to officers, directors, and consultants (Evelyn project, Sonora). Empress Royalty granted 8.9M stock options to directors, officers, consultants, and employees (Pinos project, Zacatecas). Pantera Silver applied to trade on the OTCQB Venture Market operated by the OTC Markets Group Inc. in New York (The Nuevo Taxco Silver project, Guerrero). Sonoro closed its oversubscribed non-brokered private placement for gross proceeds of $3,111.045 (Cerro Caliche project, Sonora).   ON RESOURCES AND DEVELOPMENT, Discovery Silver presented results from 13 diamond holes collared at its Cordero project in Chihuahua. Excellon reported underground expansion and exploration drilling results from its Platosa mine in Durango. Sierra Metals announced an investment of USD $28M for the construction of an iron ore processing plant to produce magnetite concentrate at its Bolivar mine in Chihuahua. Silver Tiger released high-grade drilling results from its El Tigre project in Sonora.  ON DEALS AND CORPORATE ISSUES, Empress appointed a new member to its Board of Directors, and two members as Strategic and Technical Advisors (Pinos project, Zacatecas).  Golden Goliath held its annual general meeting of shareholders (San Timoteo property, Chihuahua). Goldgroup provided a legal update on its dispute with DynaResource regards the San Jose de Gracia property in Sinaloa. Inomin announced the hiring of two members to lead its exploration program in Oaxaca, Mexico (La Gitana project, Oaxaca). Masivo Silver announced it is moving forward to sign a definitive agreement on several mineralized mining concessions comprising La Santa Madre project in Sinaloa. Ridgestone appointed Dante E Aguilar as its Mexican Country Manager (Rebeico project, Sonora). Santacruz announced that the acquisition of the Zimapan mine assets from Minera Cedros, S.A.de C.V. together with the USD $17.6M loan facility from Trafigura Mexico, S.A. de C.V., are now expected to close on or about April 23, 2021. Silver Bull presented results from its annual general meeting of shareholders (Sierra Mojada project, Coahuila).  Vizsla Silver announced the spinout of Vizsla Copper through a statutory plan of arrangement (Panuco project, Sinaloa).  ON SOCIAL RESPONSIBILITY, Torex signed an agreement to build a solar plant at its Morelos property.

ON MEXICO ISSUES

  • The Ministry of Economy issued an informative note to correct what President López Obrador said about the expansion of the operations of the mining company El Boleo that operates in Baja California Sur. The mining and metallurgical company is seeking an expansion in the surface of its operations and not a new concession as stated by the president. In July 2019, El Boleo requested an expansion of its environmental impact statement, in which it requested an expansion of its mine by 446 hectares contiguous to its current operation. They indicated that this is because the life of the main mine is running out and its mineral reserves are in this adjoining land. The statement indicates that the mining project began construction in December 2010, with an investment of USD $1,717M, and began production in 2015. The company produces copper, cobalt, zinc and manganese. Currently, the mining company employs 1,282 direct jobs (836 unionized and 446 trusted).
  • Fernando Alanís, president of the Mining Chamber of Mexico (Camimex), stated that the mining industry in Mexico paid MXP $30,374M in taxes during 2020. He also highlighted that those that refer to the fact that the industry pays little are myths, as he highlighted that around 10.6% of the Gross Domestic Product generated by the industry is destined to the payment of taxes, higher than the 7.6% of the manufacturing industry, or the 6.1% of the electricity sector. Fernando Alanis detailed that of the total taxes paid, MXP $24,205M are for Income Tax (ISR), while there are MXP $2,576M in surface rights and MXP $3,593M in new rights.
  • The Mining Chamber of Mexico (Camimex) stressed that mining is a tractor industry that, in addition to boosting the regional economy, supports the development of other economic activities. It drives construction with average annual investments of USD $5B a year. The same occurs with the transport of materials, by promoting the movement of 8.7M tons per year that travel 100.2million kilometers on the roads (78%) and railways (22%) of Mexico. It also boosts port activity, with the export and import of 474M tonnes of materials per year. In total, the transportation costs of mining companies in Mexico total USD $245M per year. Through the mining clusters (Zacatecas, Sonora, Chihuahua, Guerrero and Sinaloa) a local supply has been developed that amounts to 9,700 national supplier companies, 90% of which are small and medium-sized enterprises (SMEs). For Mexico, the mining industry is an outstanding generator of income, contributing 8.3% to the industrial GDP and 2.5% to the national GDP. It is also a large generator of jobs, with more than 379,000 direct jobs and almost 2 million indirect jobs.
  • The Mexican mining industry called on the environmental authorities to hold a dialogue to understand the reasons why the permits are being stopped and to work together to unlock authorizations for Environmental Impact Manifestations (MIAs) that are being held at the Ministry of the Environment and Natural Resources which have stopped several mining projects in the country. Mining in Mexico has a robust environmental legislation that is permanently addressed, among which the General Law of Equilibrium and the Environmental Protection, as well as seven Official Mexican Standards and the general regulation that exists for activity in protected natural areas in Mexico, among others.
  • Representatives of the Mexican Mining industry asked the federal government to reactivate mineral concessions to increase investments in the sector. No new mining concessions have been granted in the country since 2019 and the effects of this were reflected in a lower Foreign Direct Investment in the sector.

ON EXPLORATION

  • One World Lithium Inc., commenced the DDH-3 drilling program at its Salar del Diablo project in Baja California. DDH-3 is located 50Km south of DDH-2 and depending on results, the company may drill more diamond drill holes in the immediate area.
  • Alamos Gold Inc., and its partner Aloro Mining Corp., commenced an initial drilling program at Los Venados project at the Mulatos mining district in Sonora. The initial drilling program will be focused on testing high sulphidation gold mineralization near the Mulatos open pit as well as on low sulphidation gold mineralization to the north where some high grade veins have been identified.
  • Silver Spruce Resources Inc., and its partner Colibri Resource Corporation, received the approved environmental permit from SEMARNAT to drill its El Mezquite project in Sonora. The phase 1 will consists of 2,000m. The drill permit was granted for 14 drill pads over the targets in the northern area of the concession. 
  • Colibri Resource Corporation released trenching sampling results from its flagship Evelyn project in Sonora. Highlights include four high grade samples from El Sahuaro target area with results of 44.9 g/t Au and 21 g/ Ag; 8.24 g/t Au and 8 g/t Ag, 23.3 g/t Au and 16 g/t Ag; and 39.6 g/t Au and 23 g/t Ag.
  • Mammoth Resources Corp., reported results from an additional 2km 3D modeling IP/Mag survey conducted at its Tenoriba project in Chihuahua.  The geophysical survey defines a strong correlation between anomalous Au values found from soil, chips, and channel samples, as well as Au values found in numerous diamond holes, extending these coincident features over what now totals 2.4Km trend of a larger 6km trend of surface  Au-Ag mineralization at Tenoriba project.
  • Kootenay Silver Inc., provided an update on the current drilling program conducted at its Copalito project in Sinaloa. It has completed 1,600m of the planned 3,500m over 19 shallow drill holes. Highlights include hole BDH-20-004 collared at 5 Senores Vein with 0.28 g/t Au and 1,297 g/t Ag (1,323 g/t AgEq) over 3.2m, including 0.14 g/t Au and 2,830 g/t Ag (2,843 g/t AgEq) over 1m; hole BDH-20-15 collared at Pilar Vein with 0.48 g/t Au, 40 g/t Ag, and 1.2% Pb+Zn (111 g/t AgEq) over 7m, including 2.28 g/t Au, 51 g/t Ag, and 6.2% Pb+Zn (394 g/t AgEq) over 1.2m; hole BDH-20-33 collared at Pilar Vein with 0.7 g/t Au, 101 g/t Ag, and 2.3% Pb+Zn (215 g/t AgEq) over 2.7m, including 7.05 g/t Au, 59 g/t Ag, and 13.5% Pb+Zn (1.210 g/t AgEq) over 0.2m; and hole BDH-20-040 collared at 5 Senores Vein with 6.65 g/t Au, 335 g/t Ag, and 2.6% Pb+Zn (933 g/t AgEq) over 2.25m, including 16.95 g/t Au, 369 g/t Ag, and 3.7% Pb+Zn (1,813 g/t AgEq) over 0.51m, and 2.09 g/t Au, 124 g/t Ag, and 0.8% Pb+Zn (311 g/t AgEq) over 9.05m. The Program has focused primarily on the 5 Senores vein, with drilling now stepping out to test the Agua and Chiva Veins.
  • Mithril Resources Inc., informed on the exploration activities carried out during Q1, 2021 at its Copalquin project in Durango. The company is focused on delivering maiden JORC Au-Ag resource for El Refugio target in H2, 2021, where hole CDH-050 intersected 62 g/t Au and 445 g/t Ag over 4.17m. The drill plan for the next quarter is to drill test deeper part of the target. At La Soledad target, hole CDH-054 encountered 10.36 g/t Au and 81 g/t Ag over 4.88m, extending the mineralization further to the west and down dip. The company also informed that it has completed the soil sampling program within El Cometa and Reyes project areas.
  • Advance Gold Corp., announced drilling results from its Tabasquena project in Zacatecas. Hole AGT-23 intersected two zones, one of 0.63 g/t Au, 20 g/t Ag, 3.5% Pb,  and 8% Zn over 2m, and a second zone of 0.04 g/t Au, 6 g/t Ag, 0.18% Pb, and 1.1% Zn over 0.55m. Advance has drilled 23 holes to date and has outlined a 2,500m by 500m wide mineralized corridor and plans to carry out more mapping and geophysics to find the feeder system at  depth responsible for this widespread mineralization.
  • Zacatecas Silver Corp., reported that it has completed first pass geological and structural mapping, and sampling of the San Gil breccia Zone, located 2km southwest of the Veta Grande vein within its Zacatecas Silver project, Zacatecas. The company outlined a north-south trending zone of ferruginous breccia averaging 20-40m wide, over a strike length of at least 800m with strong anomalous values of Ag, Au, Zn, and As, mainly in the northern segment. The company is planning a drilling program since over 600m of the northern segment of this breccia remains untested by previous drilling.
  • GoGold Resources Inc., released results from eight diamond holes collared at its Los Ricos North project in Jalisco. Significant mineralized drill intervals were encountered at hole LRGCS-21-016 with 0.69 g/t Au and 140 g/t Ag (2.55 g/t AuEq or 191 g/t AgEq) over 23.4m, including 4.94 g/t Au and 820 g/t Ag (15.87 g/t AuEq or 1,191 g/t AgEq) over 1m, and a second interval of 0.69 g/t Au and 151 g/t Ag (2.7 g/t AuEq or 155 g/t AgEq) over 15m, including 3.7 g/t Au and 797 g/t Ag (14.33 g/t AuEq or 1,075 g/t AgEq) over 2.2m; hole LRGCS-21-022 with 0.32 g/t Au and 115 g/t Ag (1.86 g/t AuEq or 140 g/t AgEq) over 14.9m, including 1.4 g/t Au and 664 g/t Ag (10.24 g/t AuEq or 768 g/t AgEq) over 2m; LRGCS-21-024 with 0.44 g/t Au and 116 g/t Ag (2 g/t AuEq or 150 g/t AgEq) over 21m, including 0.77 g/t Au and 211 g/t Ag (3.58 g/t AuEq or 268 g/t AgEq) over 9.3m, including 1.66 g/t Au and 392 g/t Ag (6.88 g/t AuEq or 516 g/t AgEq) over 1.7m, and a second interval of 0.37 g/t Au and 115 g/t Ag (1.91 g/t AuEq or 143 g/t AgEq) over 12m, including 1.11 g/t Au and 355 g/t Ag (5.85 g/t AuEq or 439 g/t AgEq) over 3.2m; and hole LRGCS-21-025 with 1.4 g/t Au and 201 g/t Ag (4.08 g/t AuEq or 306 g/t AgEq) over 16.8m, including 8.28 g/t Au and 700 g/t Ag (17.6 g/t AuEq or 1,320 g/t AgEq) over 1.5m. These drill results extended mineralization at Casados deposit.

ON MINING

  • Golden Minerals Company reported Q1, 2021 production results from its Rodeo mine in Durango. The company processed 18,791 tonnes of 3 g/t Au and 14 g/t Ag with metallurgical recoveries of 84.3% and 86.6% respectively to produce 1,390 Oz Au and 11,289 Oz Ag. It also announced its full year 2021 production guidance in which it expects to process between 125K-135K tonnes to produce 12K-14K Oz Au, and 25K-30K Oz Ag.
  • Gold Resource Corporation announced Q1, 2021 preliminary production results from its Oaxaca Mining Unit in Oaxaca. The company produced 5,019 Oz Au, 253,061 Oz Ag, 855.7K Lb Cu, 2.6M Lb Pb, and 7M Lb Zn.
  • McEwen Mining Inc., reported the production of 1,300 Oz AuEq (GEOs) from residual leaching at El Gallo mine in Sinaloa during the first quarter of 2021. 

ON FINANCING

  • Colibri Resource Corporation granted 1.9M incentive stock options to officers, directors, and consultants. The options have a term of five years at an exercise price of $0.10 per share (Evelyn project, Sonora). 
  • Empress Royalty Corp., granted 8.9M stock options to directors, officers, consultants, and employees. The options are exercisable for up to five years at a price of $0.5 per share and will be vested for a period of three years. (Pinos project, Zacatecas).
  • Pantera Silver Corp., applied to trade on the OTCQB Venture Market operated by the OTC Markets Group Inc. in New York. The Company’s shares will continue to trade on the TSX Venture Exchange under the symbol “PNTR” (The Nuevo Taxco Silver project, Guerrero).  
  • Sonoro Gold Corp., closed its oversubscribed non-brokered private placement for gross proceeds of $3,111.045. Net proceeds will be used to fund ongoing development plans at its Cerro Caliche project, including completion of a metallurgical testing, preparation of a NI 43-101 resource update and a PEA, as well as for property maintenance payments, and  for corporate and general administrative expenses.

ON RESOURCES AND DEVELOPMENT

  • Discovery Silver Corp., presented results from 13 diamond holes collared at its Cordero project in Chihuahua. Significant mineralized  intercepts were encountered in hole C20-405 with 65 g/t Ag, 0.05 g/t Au, 1.2% Pb, and 1.3% Zn (165 g/t AgEq) over 128.2m, including 109 g/t Ag, 0.06 g/t Au, 2% Pb, and 1.9% Zn (263 g/t AgEq) over 26.1m; hole C21-414 with 37 g/t Ag, 0.04 g/t Au, 0.8% Pb, and 1% Zn (110 g/t AgEq) over 110m, including 65 g/t Ag, 0.05 g/t Au, 1.6% Pb, and 1.4% Zn (184 g/t AgEq) over 51.8m; and hole C20-407 with 78 g/t Ag, 0.08 g/t Au, 1.3% Pb, and 3.6% Zn (279 g/t AgEq) over 27.4m. The results from this program will be incorporated in a new resource estimate and revamped PEA in the second half of the year.
  • Excellon Resources Inc., reported underground expansion and exploration drilling results from the Guadalupe North, 623, NE-1 and NE-1S Mantos at its Platosa mine in Durango. Highlights include hole EX21UG525 with 618 g/t Ag, 10.1% Pb, and 12% Zn (1,293 g/t AgEq) over 6.5m; hole EX21UG564 with 688 g/t Ag, 14.5% Pb, and 14.9% Zn (1,571 g/t AgEq) over 4.6m; and hole EX20UG522A, with 359 g/t Ag, 4.9% Pb, and 15.9% Zn (1,031 g/t AgEq) over 4.6m, including 573 g/t Ag, 8.6% Pb, and 21.5% Zn (1,531 g/t AgEq) over 1.3m. “Drilling continues to outline and expand mineralization within and around the Platosa deposit with new opportunities identified in the historically-mined Guadalupe North Manto”.
  • Sierra Metals Inc., announced an investment of USD $28M for the construction of an iron ore processing plant expected to produce approximately 500K tonnes per year of magnetite concentrate at its Bolivar mine in Chihuahua. Engineering and test work of the final process is currently underway, and construction of the processing plant is expected to commence this June and will take approximately six months to complete.
  • Silver Tiger Metals Inc., released high-grade drilling results from its El Tigre project in Sonora. Significant high-grade mineralization was encountered in recent drilling of the Sooy vein in hole ET-21-219 with 0.29 g/t Au, 288 g/t Ag, 0.05% Cu, 0.1% Pb, and 0.2% Zn (325 g/t AgEq) over 11.8m, including 0.49 g/t Au, 4,375 g/t Ag, 0.88% Cu, 2% Pb,  and 3.5% Zn (4,668 g/t AgEq) over 0.5m; hole ET-21-217 with 0.08 g/t Au, 210 g/t Ag, 0.04% Cu, 0.03% Pb, and 0.01% Zn (221 g/t AgEq) over 7.3m, including 0.66 g/t Au, 2,595 g/t Ag, 0.41% Cu, 0.3% Pb, and 0.05% Zn (2,694 g/t AgEq) over 0.5m; hole ET-21-215 with 0.26 g/t Au, 167 g/t Ag, 0.15% Cu, and 0.4% Pb (211 g/t AgEq) over 10.1m, including 0.39 g/t Au, 961 g/t Ag, 0.78% Cu, and 1.8% Pb (1,111 g/t AgEq) over 1.1m; and hole ET-21-216 with 0.08 g/t Au, 239 g/t Ag, 0.03% Cu, 0.06% Pb, and 0.3% Zn (260 g/t AgEq) over 3.5m, including 0.24 g/t Au, 1,608 g/t Ag, 0.19% Cu, 0.3% Pb, and 2% Zn (1,721 g/t AgEq) over 0.6m. Step out drilling to the south on the Sooy Vein continues to deliver consistent high grade silver results.

ON DEALS AND CORPORATE ISSUES

  • Empress Royalty Corp., appointed a new member to its Board of Directors, and two members as Strategic and Technical Advisors (Pinos project, Zacatecas).
  • Golden Goliath Resources Ltd., held its annual general meeting of shareholders (San Timoteo property, Chihuahua).
  • Goldgroup Mining Inc., provided a legal update on its dispute with DynaResource regards the San Jose de Gracia property in Sinaloa. Goldgroup announced that the Tenth Circuit Court of Appeals rejected the appeal lodged by Texas-based DynaResource Inc., to vacate the Arbitral Award, which had found that DynaUSA had improperly diluted the Company’s interest in the San Jose de Gracia Mexican mining project, which Goldgroup had earned into pursuant to an option agreement between the Company and DynaUSA. The Circuit Court’s opinion clarifies several misleading facts previously presented in various news releases issued by DynaUSA.
  • Inomin Mines Inc., announced the hiring of two key members for its Mexican exploration program:  a community relationship representative and a senior exploration geologist (La Gitana project, Oaxaca).
  • Masivo Silver Corp., announced it is moving forward to sign a definitive agreement on several mineralized mining concessions comprising La Santa Madre project in Sinaloa. Mineralization identified by Masivo at La Santa Madre project consists of at least six parallel NE Cu-Au-Ag quartz epithermal veins varying from 3-7 m with lengths varying from 600-1,200m. Masivo has also signed a letter of interest to access 3,000 hectares of private land where part of these mining claims are located, with the right to progress to an agreement for 8,000 hectares of this private land.
  • Ridgestone Mining Inc., appointed Dante E Aguilar as its Mexican Country Manager (Rebeico project, Sonora).
  • Santacruz Silver Mining ltd., announced that the acquisition of the Zimapan mine assets from Minera Cedros, S.A.de C.V. together with the USD $17.6M loan facility from Trafigura Mexico, S.A. de C.V., are now expected to close on or about April 23, 2021.
  • Silver Bull Resources Inc., presented results from its annual general meeting of shareholders (Sierra Mojada project, Coahuila).  
  • Vizsla Silver Corp., announced the spinout of Vizsla Copper Corp., through a statutory plan of arrangement. Vizsla Silver will continue to advance its Panuco Copala silver-gold project in Mexico while Vizsla Copper will focus on the assets in BC, Canada. 

ON SOCIAL RESPONSIBILITY

  • Torex Gold Resources Inc., signed an agreement to build a new 8.5 megawatt solar plant at its Morelos property, which include El Limon Guajes mine and Media Luna project in Guerrero state.  The new plant is expected to reduce Scope 2 greenhouse gas (“GHG”) emissions by up to 8.6% using 2019 as the baseline year. In addition, it will bring benefits to the local communities since this new solar plant will create new job opportunities for daily operation and maintenance.

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, mesothermal sheeted quartz veins in an orogenic gold prospect in Sonora, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Third Week of April, 2021

By Jorge Cirett

During the 15th week of the year (April 12th to April 18th, 2021), as a sign of the strong current activity, at least 43 press releases were announced by companies working in Mexico. To note, ten companies posted exploration advances on their properties, seven presented mining related news, six posted on financing or share options (including C$2.35 M, $3 M, C$14.1 M, C$5.6 M and $25 M), eight more on project development or resource definition and three posted on corporate issues. ON MEXICO ISSUES, Francisco Quiroga, the ex-secretary of Mining has been appointed ambassador in Germany. The Sonora Mining Cluster has two new female counselors. Napoleon Gomez Urrutia and its SNTMMS Union have been condemned to pay US$54 M to some of its affiliates. A new Coordination has been created in the Economy Secretariat to promote mining. The CTM Union opposes the outsourcing reform that would decrease the participation of workers in the profits of mining companies. ON EXPLORATION, In Sonora, Silver Spruce signed a LOI on the Diamante 1 and Diamante 2 projects; Ridgestone announced its exploration plan for the Rebeico property; Tocvan Ventures commenced phase II RC drilling at Pilar; Carlyle Commodities released good drilling results from Cecilia; Orogen informed its Lola and Sarape properties are being drilled by partners; Canuc Resources released information on the first drill hole on the present campaign at its San Javier Au-Ag project. In Chihuahua, Monarca Minerals signed a surface access agreement for its San Jose project; Kootenay Silver updated on drilling of its Columba project. In Sinaloa, Viszla Silver released drilling results from the Napoleon zone at its Panuco project. In San Luis Potosi and Zacatecas Advance Gold released results from auger sampling at several salars. ON MINING, Magna Gold, Fortuna Silver Mines, Sierra Metals, Excellon and First Majestic Silver released Q1 2021 production results. Consolidated Zinc announced the commencement of concentrate production from the recently refurbished plant at Plomosas in Chihuahua. ON FINANCING, Colibri Resources, Sonoro Gold, Santacruz Silver Mining, Heliostar Metals and Candelaria Mining released news on financing (with C$2.35 M, $3 M; $14.1 M, C$4 M and up to $25 M respectively). Defiance Silver completed its uplisting to the OTCQX Best Market ON RESOURCES AND DEVELOPMENT, Equinox Gold commenced the development of the Bermejal underground mine in Guerrero. Xali Gold submitted permit applications for the Mexico Mines Tailings project in El Oro, Estado de Mexico. Gatos Silver presented good drilling results from both extensions of the Cerro Los Gatos deposit in Chihuahua. Fabled Silver Gold released results from drilling at Santa Maria, Chihuahua. SilverCrest Metals released high-grade drilling results from several veins at Las Chispas, Sonora. Almaden Minerals is conducting an induced polarization survey at the Ixtaca deposit in Puebla. GoGold Resources released drilling results from El Favor zone at its Los Ricos North project in Jalisco. Golden Tag Resources released results from drilling at its San Diego property in Durango.   ON DEALS AND CORPORATE ISSUES, VanGold Mining closed with Endeavour Silver the acquisition of the El Cubo mine and mill complex in Guanajuato. Silver Spruce Resources signed a LOI with Colibri Resource on the Diamante 1 and Diamante 2 properties in Sonora. Empress Royalty executed a $5 M Silver Stream agreement with Telson Mining. ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • Francisco Quiroga Fernández, Mining ex-subsecretary was appointed ambassador of Mexico in Germany. Rare in the present administration, he’s a competent professional with experience in the private industry, and more than capable to develop and strengthen political and economic ties between the two countries.  
  • The Sonora Mining Cluster named Silvia Álvarez and Maria López Rosas as new counselors to the organism.
  • The Sindicato Nacional de Trabajadores Mineros, Metalúrgicos y Similares de La República Mexicana (a strong Mining Union) and its leader Napoleón Gómez Urrutia have lost a legal law suit and have been condemned by the Junta Federal de Conciliación y Arbitraje to pay US$54 M. The Union received these funds from the sale of the Cananea mine 15 years ago, and was supposed to deliver that money to the at the time workers of the company in charge. The union failed to deliver the funds to the miners.
  • The Mexican president ordered by decree the creation of the Coordination of Extractive Activities on the Economy Secretariat. Said unit is to coordinate the mining activities of the State and actions to promote national and foreign investments in mining, among other activities.
  • The CTM Union (Confederación de Trabajadores de México) opposes the reform on outsourcing that would lower the amount the miners receive as participation on the company’s annual profits.  

ON EXPLORATION

  • Silver Spruce Resources Inc. signed a letter of intention (LOI) on two properties in Sonora, Diamante 1 and Diamante 2 covering 1,057 hectares. Historical assays from samples in the Diamante 1 and Diamante 2 properties, which display epithermal intermediate sulfidation mineralization have returned up to 39.8 gpt Au, 3,460 gpt Ag, 7.3% Pb, 5.6% Zn. Diamante 1 has already six main targets, including the La Prieta-El Aguaje vein system, which runs for 2,000 m averaging 1 m in width. At Diamante 2 The Calton area displays two vein 900 m and 1,100 m in length, ranging from 0.30 m to 1.70 m in width. The El Cumbro-Mezquite Raizudo veins follow a structural trend 900 m long, displaying an average width of 1 meter.
  • Advance Gold Corp. released results from auger drilling sampling at all the salars it recently acquired in Zacatecas and San Luis Potosí. The 0.5 m to 1 m of depth samples returned highlighted results of up to 650 ppm boron (B), 1.91% Potassium (K) and 620 ppm Lithium (Li). The average grade of the samples was 247 ppm B, 1.17% K and 215 ppm Li.
  • Monarca Minerals Inc. executed and ratified by a Notary Public the surface access agreement with both the Ejido and Colonia on its San Jose silver project in Chihuahua. The company is now to apply for the environmental permit that will allow it to conduct its planned 5,000 m drilling campaign.
  • Ridgestone Mining Inc. announced an exploration plan for its 3,459 hectares Rebeico project in Sonora. The current phase will comprise geologic mapping, sampling and prospecting, with focus on the New Year zone, the Santa Elena outcrop and El Cobre mine.
  • Tocvan Ventures Corp. announced the start of phase II of its drilling program at the Pilar project in Sonora. The two-stage 4,000 m reverse circulation (RC) drill program will focus first on the “definition and expansion of the Main Zone, which during Phase I returned 94.6-meters at 1.6 g/t Au including 9.2m at 10.8 g/t Au and 38 g/t Ag”, and then to test the new targets across the property.
  • Kootenay Silver Inc. reported it has completed 12 core drill holes totalling 1,800 m as part of its 5,000 m campaign at its Columba project in Chihuahua. Kootenay has tested the F vein and is now testing an area east of the J-Z zone.
  • Carlyle Commodities Corp. released the first batch of drill results from the Cecilia project in Sonora. The program consisted of seven holes, of which results have been received for five. The best intercept was 24.2 m @ 1.51 gpt Au. Other core-length highlighted intervals comprise 1.30 m @ 0.69 gpt Au; 5.95 m @ 0.20 gpt Au, 3.10 m @ 0.52 gpt Au; 9.45 m @ 0.23 gpt Au; 1.00 m @ 0.55 gpt Au; 3.45 m @ 0.35 gpt Au; 4.30 m @ 0.29 gpt Au; 6.10 m @ 0.43 gpt Au; 3.00 m @ 0.87 gpt Au. “The first drill program from Carlyle and Riverside was focused on targeting the hydrothermal system identified at two principal elevations: 2,200 m and 1,900 m, respectively corresponding to the San Jose Target and the North Breccia Target…… to test the continuity of the mineralized structures at shallow depth”.  
  • Orogen Royalties Inc. announced the commencement of drilling programs on two of its properties in Sonora. At La Lola, partner Heliostar Metals Ltd. has initiated a 1,500 m drilling program. At the 57.8 square km Sarape project, Orogen and partner Hochschild PLC commenced a planned 3,000 m program. Eight holes will be drilled on 2.5 km of the Sarape vein. “In 2019, nine holes drilled within a 380-metre-long segment of the vein defined a structural dilation zone at 100-350 metres depth (Figure 2). In this zone the vein thickens to 23.6 metres in width..…. A deeper horizon will also be drilled to identify if the grade of the vein improves with depth”.
  • Canuc Resources Corp. informed on drilling advance at its San Javier Ag-Au project in Sonora. The first hole of a planned 6,000 m program was ended at 89.5 m in a fault zone. It intersected brecciated sedimentary rocks with stockwork veining and three intervals of massive magnetite breccia. “The 20-hole program is designed to test at least 4 magnetic features that underlie areas where a 2020 mapping and rock sampling program identified silver, gold and copper mineralization. At surface, the host rocks for three of these features are found to be magnetite breccia”. The program is focused on magnetic anomalies identified by a previous survey.
  • Viszla Silver Corp. released drilling results from step out drilling at the southern extension of the Napoleon prospect at its Panuco project in Sinaloa. The Napoleon vein has been mapped for more than 2.5 km and has four rigs drilling at the time. Highlighted true width intercepts comprise 4.46 m @ 890 gpt Ag, 19.99 gpt Au, 0.7% Pb, 1.8% Zn (including 0.92 m @ 3,804 gpt Ag, 91.91 gpt Au, 1.5% Pb, 3.5% Zn); 1.92 m @ 105.9 gpt Ag, 7.28 gpt Au, 0.7% Pb, 2.9% Zn (including 1.45 m @ 131 gpt Ag, 9.39 gpt Au, 0.8% Pb, 3.1% Zn)

ON MINING

  • Fortuna Silver Mines Inc. released production results for the first quarter 2021, including figures from its Mexican operations. At San José, in Oaxaca, 259.8 K tonnes @ 217 gpt Ag, 1.36 gpt Au were milled, recovering 90.8% Ag, 90.5% Au to produce 1.65 M Oz Ag, 10,301 Oz Au.
  • Consolidated Zinc Ltd. announced the 2021 zinc concentrate “benchmark treatment charge (TC) has been agreed between the major miners and smelters at US$159.00/t of concentrate, a reduction of 47% from last year’s benchmark treatment charge of US$299.75/t”. Treatment charges in 2020 represented 33% of total operating costs (before by-product credits) being the single largest operating cost (Plomosas, Chihuahua).
  • Magna Gold Corp. informed production levels have benefited from the accelerated stripping program, resulting in month to month growth in gold production, with 3,085 ounces in January, 2,670 ounces in February and 4,030 ounces in March. Magna anticipates the mine will return to full scale commercial production by June of this year, with 2021 guidance in the range of 55,000 to 65,000 Oz Au. During the Q1 2021, 619 K tonnes were mined @ 0.34 gpt Au, with 5.2 M tonnes of waste moved (8.40 strip ratio) to produce 9,785 Oz Au, 8.1 K Oz Ag.
  • Sierra Metals Inc. reported first quarter 2021 production reports, including figures from its Mexican properties. At Bolivar, in Chihuahua, 371.6 K tonnes were processed @ 0.77% Cu, 19.7 gpt Ag, 0.19 gpt Au, recovering 82.8% Cu, 83.6% Ag, 69.6% Au, to produce 5.2 M Lb Cu, 197 K Oz Ag, 1,591 Oz Au (7.3 M Lb CuEq). At Cusi, also in Chihuahua, 76.6 K tonnes were processed @ 15.2 gpt Ag, 0.16 gpt Au, 0.22% Pb, recovering 80.9% Ag, 39.6% Au, 81.5% Pb, to produce 313 K Oz Ag, 155 Oz Au, 298 K Lb Pb (334 K AgEq Oz Ag).
  • Consolidated Zinc Ltd. announced the first concentrate from the newly refurbished plant at its Plomosas property in Chihuahua has been produced.
  • Excellon Resources Inc. released Q1 2021 production results from the Platosa mine in Durango. At the site 21,212 tonnes were mined, 21,764 tonnes were milled @ 524 gpt Ag, 5.35% Pb, 6.73% Zn, recovering 89.7% Ag, 81.8% Pb, 74.7% Zn to produce 328.7 K Oz Ag, 2.1 M Lb Pb, 2.4 M Lb Zn, or 516.7 K Oz AgEq.
  • First Majestic Silver Corp. produced during the Q1 2021 2.9 M Oz Ag, 23,873 Oz Au, or 4.5 M Oz AgEq from its three mines in Mexico: San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila. The company completed 39,552 m in exploration drilling during the quarter, with 10 rigs at San Dimas, seven rigs at Santa Elena and two rigs at La Encantada.

ON FINANCING

  • Colibri Resource Corp. has closed a non-brokered private placement for CAD$2.35 M in gross profits. (Evelyn, Sonora).
  • Sonoro Gold Corp. has increased its non-brokered private placement to raise an aggregate of $3 M thorough the exercise of over allotment options (Cerro Caliche, Sonora).
  • Santacruz Silver Mining Ltd. closed its non-brokered private placement offering, for gross proceeds of CDN$14.1 M (Carrizales, Hidalgo).
  • Defiance Silver Corp. successfully completed an uplisting to the OTCQX Best Market (San Acacio, Zacatecas).
  • Heliostar Metals Ltd. is increasing the size of its C$4 M marketed private placement to raise up to C$5.6 M (La Lola, Sonora).
  • Candelaria Mining Corp. intends to raise up to $25 M to fund exploration activities at the Caballo Blanco district in Veracruz, and the Pinos project in Zacatecas.

ON RESOURCES AND DEVELOPMENT

  • Equinox Gold Corp. is commencing development of the Bermejal underground mine at its Los Filos project in Guerrero.
  • Xali Gold Corp. submitted permit applications for the Mexico Mines Tailings project in El Oro, Estado de México. The permits are to allow both the transportation and re-processing of the tailings at a new 25 hectares plant site located 5 Km from the current location. Xali’s is to pay the El Oro municipality an 8%  net profit interest (NPI). The project has an inferred resource of 1.27 M Tonnes grading 2.94 Au g/t, 75.12 Ag g/t, containing 119,900 Oz Au and 3.06 M Oz Ag.
  • Gatos Silver Inc. reported drilling results of delineation drilling at Cerro Los Gatos in Chihuahua. The program has demonstrated continuity in both the southeast and northwest projections of the current reserve. Highlighted true width drill results include: 9.5 m @ 0.11 gpt Au, 51 gpt Ag, 2.1% Pb, 3.1% Zn; 3.4 m @ 0.12 gpt Au, 122 gpt Ag, 5.0% Pb, 9.8% Zn, 0.2% Cu; 5.4 m @ 0.25 gpt Au, 121 gpt Ag, 1.5% Pb, 2.9% Zn; 7.2 m @ 0.14 gpt Au, 106 gpt Ag, 3.5% Pb, 3.4% Zn, 0.1% Cu; 2.6 m @ 0.21 gpt Au, 327 gpt Ag, 9.2% Pb, 3.8% Zn, 0.14% Cu; 12.0 m @ 0.15 gpt Au, 44 gpt Ag, 1.1% Pb, 4.0% Zn, 0.15% Cu; 2.8 m @ 0.20 gpt Au, 111 gpt Ag, 1.6% Pb, 3.9% Zn, 1.3% Cu; 1.9 m @ 0.12 gpt Au, 132 gpt Ag, 3.2% Pb, 9.9% Zn, 0.4% Cu; 7.2 m @ 0.06 gpt Au, 25 gpt Ag, 1.0% Pb, 10.3% Zn, 0.2% Cu; 5.7 m @ 0.17 gpt Au, 152 gpt Ag, 3.0% Pb, 4.4% Zn, 0.30% Cu.
  • Fabled Silver Gold Corp. released drilling results from its Santa Maria property in Chihuahua. The last sample on the last drill hole returned 75.9 gpt Ag, with 6.4 m of similar material awaiting results. Fabled is making a reinterpretation of previous work and testing the new targets identified. The ongoing 8,000 m drill program has been increased to at least 9,200 m. “This program will be focused underground to delineate the Santa Maria Central Structure with multi underground drill stations being prepared”.
  • SilverCrest Metals Inc. released additional in-fill and expansion drill results s from the Babi Vista vein splay, Babi Vista vein, Granaditas 1 vein, Granaditas 2 vein, and adjacent hangingwall and footwall veins in the Babicanora Area of its Las Chispas Project in Sonora. The results are from 78 holes totaling 29,308 m completed since the last news release for these veins, in areas with mineral resources or in close proximity. Average results for the Babi Vista vein splay comprise 0.91 true width @ 16.12 gpt Au, 1,351 gpt Ag, with individual intercepts of up to 1.04 m @ 185.65 gpt Au, 13,959 gpt Ag. Babi Vista Footwall and Granaditas 1 average 1.04 m @ 12.89 gpt Au, 1,884 gpt Ag, with the highest intercept running 0.40 m @ 114.0 gpt Au, 78,872 gpt Ag (7.89% Ag). The Babi Vista and Granaditas 2 vein average 0.67 m @ 4.56 gpt Au, 414 gpt Ag, while the Babi Vista Hangingwall averages 0.43 m @ 2.55 gpt Au, 249 gpt Ag.
  • Almaden Minerals Ltd. is conducting an induced polarization geophysical survey at the Ixtaca deposit in Puebla. “The work is designed to help define drill targets beneath the area of hydrothermal alteration called the Southeast Alteration (SE) zone and at depth beneath the Ixtaca deposit (“Ixtaca Deeps”). It is hoped that this geophysical survey, along with past survey results, will identify potential zones of veining like those in the Ixtaca deposit. The discovery drill hole in the original Ixtaca deposit area was planned in part based on high resistivity and chargeability results obtained in an earlier IP geophysical survey”.
  • GoGold Resources Inc. released results from six diamond drill holes from El Favor area at its Los Ricos North project in Jalisco. Highlighted core-length intervals comprise 69.3 m @ 108 gpt Ag, 0.49 gpt Au (including 15.3 m @ 392 gpt Ag, 1.76 gpt Au); 9.6 m @ 112 gpt Ag, 0.39 gpt Au; 59.0 m @ 119 gpt Ag, 0.32 gpt Au (including 5.0 m @ 361 gpt Ag, 0.90 gpt Au); 2.8 m @ 110 gpt Ag, 0.16 gpt Au; 16.1 m @ 97 gpt Ag, 0.21 gpt Au; 12.0 m @ 86 gpt Ag, 0.09 gpt Au; 3.2 m @ 204 gpt Ag, 0.15 gpt Au; 7.2 m @ 135 gpt Ag, 0.76 gpt Au; 23.3 m @ 92 gpt Ag, 0.22 gpt Au; 12.9 m @ 254 gpt Ag, 0.81 gpt Au (including 8.2 m @ 392 gpt Ag, 1.25 gpt Au).
  • Golden Tag Resources Ltd. released results from the first three holes of a 4,500 m campaign at its San Diego project in Durango. A hole in the Fernandez zone returned 50.17 m @ 105 gpt AgEq; Another hole intersected 127.3 m of skarn/Fernandez style mineralization, intersecting 35.46 m @ 0.06 gpt Au, 30 gpt Ag, 0.14% Pb, 0.24% Zn, 0.01% Cu (52 gpt AgEq) and 91.84 m @ 0.07 gpt Au, 15 gpt Ag, 0.31% Pb, 0.34% Zn, 0.01% Cu (49 gpt AgEq). Other holes intercepted 1.11 m @ 0.90 gpt Au, 142 gpt Ag, 0.13% Pb, 0.21% Zn, 0.02% Cu; 3.25 m @ 0.02 gpt Au, 237 gpt Ag, 0.41% Pb, 0.82% Zn, 0.08% Cu; 1.10 m @ 0.28 gpt Au, 195 gpt Ag, 1.70% Pb, 1.92% Zn, 0.07% Cu; 2.69 m @ 0.05 gpt Au, 355 gpt Ag, 0.30 % Pb, 0.41% Zn, 0.02% Cu; 8.41 m @ 0.02 gpt Au, 24 gpt Ag, 0.61% Pb, 0.49% Zn, 0.06% Cu.

ON DEALS AND CORPORATE ISSUES

  • VanGold Mining Corp. closed the acquisition of El Cubo mine and mill complex in Guanajuato with Endeavour Silver Corp..  The deal involved the payment of US$7 M in cash plus VAT and the delivery of 21.33 M shares of VanGold and a promissory note for $2.5 M a year from closing. El Cubo has 508 K tonnes grading 194 gpt Ag, 2.44 gpt Au containing 3.17 M Oz Ag, 39,860 Oz Au as indicated resources and 1.45 M tonnes @ 214 gpt Ag, 2.78 gpt Au containing 10 M Oz Ag, 129,900 Oz Au as inferred resources.
  • Silver Spruce Resources Inc. signed a letter of intention (LOI) with Colibri Resource Corp. to acquire up to 50% interest in four concessions in Sonora, comprising two properties, Diamante 1 and Diamante 2 covering 1,057 hectares. The projects are separated by 700 meters, and in close proximity to other Colibri properties. The initial cash payment by Silver Spruce is to be of $75 K (Note.- The details of the deal are lengthy and involve a third party, please take a look to the appropriate press release if interested in it).
  • Empress Royalty Corp. executed the US$5 M silver stream agreement on the Telson Mining Corp. owned Tahuehueto project in Durango. “Empress has now executed the US$5M silver stream agreement on production from Telson’s Tahuehueto project in Mexico. The US$5M Stream is on 100% of the payable silver production from Tahuehueto for the first 1,250,000 payable ounces; thereafter, the percentage will stepdown to 20% of the payable silver production to a maximum of 10 years from first production after which the Stream terminates”.

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 image below:  Disseminated and vein constrained sulfides in a porphyritic intrusive rock in split diamond core from Cerro San Pedro in San Luis Potosi. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Second Week of April, 2021.

Magnetite-rich Fe skarn manto

By Miguel A Heredia

During the 14th week of the year (April 05th to April 11th, 2021), at least 35 press releases were announced by companies working in Mexico and 4 news published by the media, with nine informing on exploration results, eight disclosing deals and corporate issues, seven announcing financial issues, six reporting on resources and development, six communicating production and financial results, two discussing social issues, and one commenting on Mexican issues.  ON MEXICO ISSUES, Compañía Minera Cuzcatlán (Fortuna Silver) declared that it pays taxes and reiterated its attachment to the government mechanisms that drive Mexico’s socio-economic development (San Jose mine, Oaxaca). ON EXPLORATION, In Baja California, One World Lithium announced that a drill crew will be mobilizing to its Salar del Diablo project in Baja California, to drill a third diamond drill hole. In Sonora, Colibri informed that it will commence a 3D IP survey at its Evelyn project, Heliostar released first pass sampling and mapping results from its Cumaro project, Ridgestone announced encouraging results from geophysical surveys and follow-up work on its Rebeico project, and Silver Tiger reported drill results in the Benjamin vein zone at its El Tigre project. In Sinaloa, Vizsla provided results from eighteen holes collared along the Napoleon Vein corridor at its Panuco project. In Zacatecas, Alien reported sampling results from dumps/floats at its San Celso property, and Zacatecas Silver completed geological and structural mapping at its El Cristo project.  In San Luis Potosi, Advance Gold started a drilling program at its Saldivar lithium salar project. ON MINING, Endeavor reported Q1, 2021 production results from its Mexican mine operations. GoGold presented Q1, 2021 production and financial results from its Parral Tailings project in Chihuahua. Magna Gold reported year end 2020 financial results from its San Francisco mine in Sonora, and provided production guidance for 2021. Mexus Gold announced its plans to blast at its Santa Elena mine in Sonora. Telson reported Q1, 2021 production results from its Campo Morado mine in Guerrero. Torex presented Q1, 2021 production and financial results from its El Limon-Guajes Mine Complex in Guerrero.  ON  FINANCING, Aura Minerals announced a clarification of its payments of dividends (Aranzazu mine, Zacatecas). Canuc granted 6M incentive stock options to officers, directors, employees, and consultants (San Javier project, Sonora). Capitan Mining announced a non-brokered private placement for gross proceeds of CAD $3.2M (Peñoles property, Durango). GR Silver entered into a bought deal private placement financing agreement for gross proceeds of $ 8M (Plomosas project, Sinaloa). Santacruz announced a private placement for gross proceeds of up to CAD $14.1M (Zimapan mine, Hidalgo). Silver Spruce granted 759K stock options to its CEO (El Mezquite project, Sonora).  Tarachi Gold commenced to trade on the OTCQB Venture Market under the ticker symbol “TRGGF” (Magistral Mill and Tailings project, Durango).  ON RESOURCES AND DEVELOPMENT, Almadex announced its intention to drill at least three of its Mexican mining properties in 2021, and discussed plans for El Cobre and Ixtaca properties located in Veracruz and Puebla respectively. Consolidated Zinc reported that mill and flotation circuits commissioning commenced over Easter at its Plomosas mine in Chihuahua. Prime released drill results from el Zapote South, Noche Buena, and San Miguel East deposits at its Los Reyes project in Sinaloa. Sonoro reported results from 12 RC holes drilled at its flagship property Cerro Caliche in Sonora. VanGold filed a PEA for combined El Pinguico-El Cubo projects in Guanajuato. ON DEALS AND CORPORATE ISSUES, Discovery Metals announced name change to Discovery Silver (Cordero project, Chihuahua).  Equinox completed the acquisition of Premier Gold and the spin out of i-80 Gold Corp. (Los Filos mine, Guerrero and Mercedes mine, Sonora). Gatos Silver appointed Rodrigo Monroy as General Counsel effective April 1st, 2021 (Los Gatos mine, Chihuahua). Minaurum engaged Digital Marketing Firm and granted 3,825,000 common share stock options to Directors, Officers and Consultants (Alamo Silver project, Sonora). Minera Autlán announced the appointment of Pedro Rivero González as its General Management of the company as of April 5, 2021 (Molango mine, Hidalgo). Santacruz announced that the acquisition of the Zimapan assets is now expected to close on or before April 16, 2021. Tarachi Gold appointed a new member to its Board of Directors and announced the change of Auditor (Magistral Mill and tailings project, Durango). Torex announced that it received a key environmental permit for its Media Luna project in Guerrero.  ON SOCIAL RESPONSIBILITY, Arcelor Mittal delivered a donation of MXP $140K to the Red Cross Delegation of Lázaro Cárdenas in Michoacan. Fresnillo plc., supported workshop members of the El Obligado Community in Fresnillo, Zacatecas who make face masks for the population of nearby communities.

ON MEXICO ISSUES

  • Compañía Minera Cuzcatlán (Fortuna Silver Mines Inc.) declared that it has complied in due time and form with more than MXP $600M for the total federal taxes caused, corresponding to the 2020 annual fiscal year. The payment from an effective tax rate to the mining sector of 45%is one more sample strict adherence to legality and government mechanisms that promote the socio-economic development of the country (San Jose mine, Oaxaca).

ON EXPLORATION

  • One World Lithium Inc., announced that a drill crew will be mobilizing to its Salar del Diablo project in Baja California, to drill a third diamond drill hole. DDH-3 will be located approximately 50Km to the south of DDH-2.
  • Colibri Resource Corporation, informed that it will commence a 3D IP survey at its Evelyn project in Sonora. The 3D IP survey will be focused on the Sahuaro and Cerro Rojo targets and will cover an area of approximately 6 square km. The Company is planning a drill program to test currently defined mineralized trends and structures, to evaluate the emerging geological and structural model for the property, and to test results of the IP survey.
  • Heliostar Metals Limited released first pass sampling and mapping results from its Cumaro project in northern Sonora. Heliostar identified a silicified structure with pyrite and returned 1m channel sample grading 390 g/t Ag, and remains open to expand. Additionally, eleven channel and rock samples returned values >1 g/t Ag in a coherent anomaly that cover an area of 500m by 600m, being this area the extension of the Dos Amigos vein into the eastern block. This mineralization indicates a robust silver endowment and shows the potential for high grades in the eastern block of the El Picacho district.
  • Ridgestone Mining Inc., announced encouraging results from geophysical surveys and follow-up work on its Rebeico project. The IP survey outlined a strong IP high chargeability anomaly of 1,400m north-south and 800m east-west at the south portion of the Alaska vein, at depths of 250 to 300 metres below surface, progressively increasing in width and intensity toward the south.
  • Silver Tiger Metals Inc., reported drill results in the Benjamin vein zone at its El Tigre project in Sonora. Significant drill intersects were encountered in hole ET-21-204 with 140 g/t Ag, 0.12 g/t Au, 0.08% Cu, 3% Pb, and 8.5% Zn (519 g/t AgEq) over 14.2m, including 273 g/t Ag, 0.14 g/t Au. 0.18% Cu, 5.5% Pb, and 17 % Zn (1,013 g/t AgEq) over 5.6m; hole ET-21-206 with 181 g/t Ag, 0.07 g/t Au, 0.05% Cu, 0.6% Pb, and 1.8% Zn (267 g/t AgEq) over 12.3m, including 1,034 g/t Ag, 0.18 g/t Au, 0.29% Cu, 2.7% Pb, and 8.8% Zn (1,443 g/t AgEq) over 2m; and hole ET-20-199 with 222 g/t Ag, 0.05 g/t Au, 0.09% Cu, 0.5% Pb, and 1.7% Zn (305 g/t AgEq) over 7.7m, including 699 g/t Ag, 0.11 g/t Au, 0.2% Cu, 2% Pb, and 7% Zn (1,016 g/t AgEq) over 1.1m.
  • Vizsla Silver Corp., provided results from eighteen holed collared along the Napoleon Vein corridor at its Panuco project in Sinaloa. The company estimated from 54 drill holes, an average vein true width of 4m, a weighted average grade of 155 g/t Ag, 2.74 g/t Au, 0.5% Pb, and 1.3% Zn (441 g/t AgEq), and mineralization extends over 300m in length, 300m  deep, and remains open north, south, and at depth. The best drill intercept was encountered in hole NP-21-80 with 469 g/t Ag, 5.84 g7t Au, 0.5% Pb, and 1.2% Zn (1, 027 g/t AgEq) over a true width (TW) of 4.61m, including 1, 321 g/t Ag, 15.1 g/t Au, 1.3% Pb, and 2.6% Zn (2, 740 g/t AgEq) over a TW of 1.51m.
  • Alien Metals ltd., reported encouraging dump/floats sampling results from its New Andromeda concession adjacent to its San Celso property in Zacatecas. Highlights include 734 g/t Ag, 0.44 g/t Au and 0.6% Zn; 163 g/t Ag, 0.42 g/t Au and 1.9% Zn; 488 g/t Ag; 270 g/t Ag; and 180 g/t Ag and 0.13% Zn. “The samples are all composed of quartz and carbonate dominant vein material with varying amounts of sulphides, hence they are very similar to the mineralization seen in the San Celso vein systems to the north”.  
  • Zacatecas Silver Corp., completed geological and structural mapping at its El Cristo project located immediately to the northwest of the Veta Grande deposit. The Veta Grande vein has reported historical production of over 200 M Oz Ag in the region. The geological and structural mapping identified at least eight veins to date which are associated with a sigmoidal zone of extension that is at least 800 m wide, over a strike length of at least 4 km extending the previous reported strike length of 2.5 to 3.0km. Zacatecas Silver has commenced an extensive soil sampling program to assist with location of veins beneath cover of thin soils. “The cumulative strike length of all veins at El Cristo is at least 12 km long. El Cristo an extremely prospective system with numerous high value targets at vein intersections, splays and flexures. Veins display multiphase and brecciated textures, indicative of multiple mineralizing events. Zacatecas Silver is planning an aggressive rock-chip and channel sampling program to better define the silver-base metal grade distribution of the outcropping veins, to ensure that the highest value targets are drill tested”.
  • Advance Gold Corp., started a drilling program at its Saldivar lithium salar project in San Luis Potosi to test near surface lithium grade distribution of the salar for bulk sampling preparation. The drilling program will be carried out on a grid basis using 100m spacing with holes drilled down to 50m. The company also plans to drill deeper in one of the holes to test the depth to bedrock.

ON MINING

  • Endeavor Silver Corp., reported production results from its Mexican mine operations. The table below shows figures for Q1, 2021 by mine:
  • GoGold Resources Inc., presented Q1, 2021 production and financial results from its Parral Tailings project in Chihuahua. GoGold produced 302.9K Oz Ag, 3,208 Oz Au, and 192.6K Lb Cu (551.2K Oz AgEq), generating free cash flows exceeding USD $5.5Mthis quarter.
  • Magna Gold Corp., reported year end 2020 financial results from its San Francisco mine in Sonora. The company sold 20,235 Oz Au and 9,188 Oz Ag. Magna reported metal revenues of USD $37M, net cash flow provided by operating activities of USD $9.4M, net cash provided by financial activities of USD $9.4M, and income from mining operations of USD $1.9M. “The Company is setting guidance expectations for gold production during 2021 of between 55K to 65K Oz Au. The Company expects to have the San Francisco Mine fully commissioned before the end of Q2 2021”.
  • Mexus Gold US announced its plans to blast at its Santa Elena mine in Sonora. The blasts will produce 10K tonnes of 2.2 g/t Au, and Mexus expects to be producing gold from this material within 30 days of the blast.
  • Telson Mining Corporation reported Q1, 2021 production and financial results from its Campo Morado mine in Guerrero. Telson milled 174.4 K tonnes of 1.1 g/t Au, 116 g/t Ag, 1% Pb, and 3.9% Zn with metallurgical recoveries of 21%, 41%, 27%, and 74% respectively. To produce 11 tons of Zn concentrate and 1.9 tonnes of Pb concentrate. The company reported revenues of $10.04M from Zn concentrates and $1.9M from Pb concentrate for total revenues of $11.9M.
  • Torex Gold Resources Inc., presented Q1, 2021 production results from its El Limon-Guajes Mine Complex in Guerrero.  The company produced 129K Oz Au from an average underground ore mined of 1, 360 tonnes per day and an average open pit ore mined of 15,090 tonnes per day, and an average plant throughput of 12,340 tonnes per day. Torex provided full year production guidance for 2021 of 430K to 470K Oz Au.

ON FINANCING

  • Aura Minerals Inc., announced a clarification with respect to its payments of a dividend of USD $0.38 per common share, as previously announced by the company on March 15, 2021 (Aranzazu mine, Zacatecas).
  • Canuc Resource Corporation, granted 6M incentive stock options to officers, directors, employees, and consultants. 3.5 M of these options will vest immediately. The remaining 2.5 M options will vest 12 months from April 2nd, 2022. The stock options have an exercise price of $0.35 and a three-year term, expiring on April 2nd, 2024 (San Javier project, Sonora).
  • Capitan Mining Inc., announced a non-brokered private placement for net proceeds of CAD $3.2M from 16M common shares at a price of CAD $0.20 per share. Capitan Mining plans to use the net proceeds to advance drilling and work programs at Peñoles property in Durango, as well as for working capital and general corporate expenses.
  • GR Silver Mining Ltd., entered into a bought deal private placement financing agreement for gross proceeds of $ 8M at a price of $0.59 per unit. Net proceeds will be used for working capital and general corporate purposes (Plomosas project, Sinaloa). 
  • Santacruz Silver Mining Ltd., announced a private placement for gross proceeds of up to CAD $14.1M (Zimapan mine, Hidalgo).
  • Silver Spruce Resources Inc., granted 750K stock options to its CEO at an exercise price of $0.05 per share and an expiry date of April1, 2026. The stock options will vest 1/3 on the date of the grant, 1/3 on the first anniversary of the grant and the final 1/3 on the second anniversary of the grant (El Mezquite project, Sonora).   
  • Tarachi Gold Corp., commenced to trade on the OTCQB Venture Market under the ticker symbol “TRGGF” (Magistral Mill and Tailings project, Durango). 

ON RESOURCES AND DEVELOPMENT

  • Almadex Minerals Ltd., announced its intention to drill at least three of its Mexican mining properties in 2021, and discussed plans for El Cobre and Ixtaca properties located in Veracruz and Puebla respectively. At El Cobre, Veracruz, Almadex previously reported  an indicated resource containing 748K Oz Au and 221M Lb Cu (47.2 M tonnes grading 0.49 g/t Au, 0.21% Cu and 1.4  g/t Ag) and an inferred resource containing 860K Oz Au and 254 M Lb Cu (64.2M tonnes grading 0.42 g/t Au, 0.18% Cu and 1.3 g/t Ag).  Almadex looks forward to further developments at this high potential project. At Ixtaca, Puebla, a FS reported a proven and probable reserve containing 1.38M Oz Au and 85.1M Oz Ag (73.1M tonnes grading 0.59 g/t Au and 36.3 g/t Ag). The Ixtaca project is currently in the mine permitting phase, which has taken longer than expected. Almaden has recently noted the exploration potential remaining at the Ixtaca project and the Company looks forward to the results of the Ixtaca exploration programs over the course of 2021.
  • Consolidated Zinc Limited, reported that mill and flotation circuits commissioning commenced over Easter at its Plomosas mine in Chihuahua. It also announced that the tailings dam earthworks is completed, laying of the impervious liner is 70% complete, and the power supply installed, commissioned, and operated.  
  • Prime Mining Corp., released drill results from el Zapote South, Noche Buena, and San Miguel East deposits from its ongoing 15,000m phase 1 drill program at its Los Reyes project in Sinaloa. At El Zapote South deposit, significant mineralized drill intercepts have been encountered at hole 21ZAP-04 with 8.95 g/t Au and 74 g/t Ag over 4.5m; hole 21ZAP-03 with 0.76 g/t Au and 33 g/t Ag over 13m, including 1.66 g/t Au and 41 g/t Ag over 4.6m; and hole 21ZAP-08 with 1.96 g/t Au and 63 g/t Ag over 18.7m, including 2.44 g/t Au and 85 g/t Ag over 7.2m. At Noche Buena deposit, hole 21NB-02 encountered 3.17 g/t Au and 141 g/t Ag over 2.9m within a broader zone of 39m with 0.7 g/t Au and 29 g/t Ag; and hole 21NB-03 with 1.12 g/t Au and 30 g/t Ag over 6m. At San Miguel deposit, hole 2SME-01 intersected 1 g/t Au and 131 g/t Ag over 4.5m. Zapote-South, Noche Buena and San Miguel East deposits are three of eight known deposits that comprise the current mineral resource at Los Reyes property.
  • Sonoro Gold Corp., reported results from 12 RC holes drilled at its flagship property Cerro Caliche in Sonora. Highlights include hole SCR-223 in the north western extension of Buena Suerte zone with 0.6 g/t Au over 74.67m, including three intervals of 1.52m with 3.67 g/t Au; hole SCR-222 in the Buena Vista northwest extension of Japoneses zone with 2.04 g/t Au over 15.24m, including 3.15 g/t Au over 6.1m; hole SCR-227 in the northern extension of Japoneses zone with 1.74 g/t Au over 3.05m, including 2.54 g/t Au over 1.53m; and hole SCR-225 at El Colorado zone with 1.16 g/t Au over 7.62m, including 2.31 g/t Au over 3.05m.
  • VanGold Mining Corp., filed a PEA for combined El Pinguico-El Cubo projects in Guanajuato. Results of the PEA analysis were previously announced in the Company’s news release dated February 16, 2021. The company also announced that it obtained permits for El Pinguico road expansion. New route will lessen impact on the Calderones Community. “This road will become El Pinguico’s major thoroughfare for production, exploration, administration, and for safely purposes. The Company anticipates it will reduce driving time between the destinations from 40 minutes to 10 minutes, significantly reducing costs and wear on vehicles”. 

ON DEALS AND CORPORATE ISSUES

  • Discovery Metals Corp., announced name change to Discovery Silver Corp. The company´s common shares will commence trading under the TSX Venture Exchange under its current ticker symbol “DSV” and on the OTCQX where its ticker symbol will change from “DSVMF” to “DSVSF” from April 14, 2021, pending final regulatory approvals from the TSXV and FINRA (Cordero project, Chihuahua).
  • Equinox Gold Corp., completed the acquisition of Premier Gold Mines Limited and the spin out of i-80 Gold Corp. (Los Filos mine, Guerrero and Mercedes mine, Sonora).
  • Gatos Silver Inc., appointed Rodrigo Monroy as General Counsel effective April 1st, 2021, and strengthens its executive management team (Los Gatos mine, Chihuahua).
  • Minaurum Gold Inc., engaged Digital Marketing Firm to assist with online communication to the company, with the goal of increasing market awareness. Minaurum will pay to the Digital Marketing Firm a fee of CAD $64K for six months. The company also granted 3,825,000 common share stock options to Directors, Officers and Consultants. The options are exercisable at a price of $0.52 from a period of ten years from issue date (Alamo Silver project, Sonora).
  • Compañía Minera Autlán, S.A.B. de C.V., reported that, with the prior favorable opinion of the Corporate Practices Committee and approval of its Board of Directors, in a session of February 24, 2021, it was resolved that Pedro Rivero González will assume the General Management of the company as of April 5, 2021 (Molango mine, Hidalgo).
  • Santacruz Silver Mining Ltd., announced that the acquisition of the Zimapan assets, together with the USD $17.6 M loan facility from Trafigura Mexico, S.A. de C.V., are now expected to close on or before April 16, 2021.
  • Tarachi Gold Corp., appointed a new member to its Board of Directors and announced the change of Auditor (Magistral Mill and tailings project, Durango).
  • Torex Gold Resources Inc., announced that it received from Mexico’s Secretariat of Environment and Natural Resources (“SEMARNAT”) the MIA, a key environmental permit for its Media Luna project in Guerrero. The MIA allows Torex to execute construction activities to access its Media Luna deposit in Guerrero.

ON SOCIAL RESPONSIBILITY

  • Arcelor Mittal México SA de CV, delivered a donation of MXP $140K in the framework of its 2021 annual collection to the Red Cross Delegation of Lázaro Cárdenas in Michoacán. ”Arcelor Mittal has made annual donations without interruption. since 2008 to the delegational Red Cross, in addition to collaborating with the worthy institution in different ways: through donations in its annual collections, in kind when necessary, such as the provision of equipment and various supplies, the delivery of an ambulance in 2016 and the repair of three ambulances last year, in addition to the support with facilities for their training”.
  • Fresnillo plc., supported workshop members of the El Obligado Community in Fresnillo, Zacatecas who make face masks for the population of nearby communities. The workshop workers are also suppliers of face masks for the Directorate of Engineering and Construction Department of Industrias Peñoles (DIC). To date, they have sold around 3,000 masks, the same that meet the specifications dictated by the World Health Organization.

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 magnetite-rich Fe skarn manto in a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the First Week of April, 2021

By Jorge Cirett

During the 13th week of the year (March 29th to April 4th, 2021), at least 38 press releases were announced by companies working in Mexico. To note, five companies posted exploration advances on their properties, three presented mining related news, six posted on financing or share options (including C$2.2 M, C$2 M, C$10.8 M and C$82.5 M), ten more on project development or resource definition and three posted on corporate issues. ON MEXICO ISSUES, listed mining companies in Mexico paid US$1.29 B in taxes during 2020. Americas Silver and the Mexican government are in talks to solve the company’s union issues after the president of Mexico threatened with concession cancellation. Fortuna Silver denied environmental damage by its mining unit in Oaxaca. ON EXPLORATION, In Sonora, Heliostar Metals released drilling results from La Lola. In Sinaloa, Vizsla Silver released drilling results from Panuco; Brigadier Gold continues drilling at Picachos. In Durango, Silver Wolf released grab sample results from its Ana Maria project; Commander Resources reported results from a soil survey at the Pedro project.  ON MINING, McEwen Mining negotiated the end of an illegal blockade at El Gallo in Sinaloa. Prime Mining reported financial results for its Q3, 2021. Mag Silver released financial results for 2020. ON FINANCING, Colibri Resource, Sonoro Gold, Telson Mining and Equinox Gold released news on financing (C$2.2 M, C$2 M; $10.8 M and C$82.5 M respectively. Torex Gold announced the early repayment of $40 M. Reyna Silver is to issue $699.3 K in shares to consultors and advisors. ON RESOURCES AND DEVELOPMENT, Fortuna Silver released results from step out drilling at its San José mine in Oaxaca. Argonaut Gold released consolidated mineral resources estimates of more than 11.5 M Oz Au, 174.9 M Oz Ag on its properties. SilverCrest Metals updated on construction and exploration activities. Southern Silver reported high-grade drill intercepts at Cerro Las Minitas, Durango. Torex Gold presented a resource estimate of 5 M Oz Au for Los Filos in Guerrero. Ridgestone Mining updated on work at Guadalupe y Calvo (Chihuahua) and Rebeico (Sonora). Minera Alamos selected mining contractor for its Santana project in Sonora. GoGold Resources released results from drilling at Los Ricos North in Jalisco. First Majestic updated mineral resources for its mines and projects, for 340 M Oz Ag, 3.2 M Oz Au. Fabled Silver informed on drilling at Santa Maria, Chihuahua.  ON DEALS AND CORPORATE ISSUES, GR Silver Mining completed the acquisition of Marlin Gold Mining and its land holdings in Sinaloa. Silver Bull informed it has won a definitive decision on a lawsuit related to an illegal blockade at its Sierra Mojada project in Coahuila. Argonaut Gold announced the cancellation of the agreement to sell the Ana Paula project in Guerrero. ON SOCIAL RESPONSIBILITY, Fresnillo PLC informed on cultural activities aimed at helping local communities and improving the environment.

ON MEXICO ISSUES

  • Listed mining companies in Mexico paid US$1.13 B ($1,1293 M in Mexican notation) in taxes on profits, or 9.2% on total earnings, in 2020. This amount is 44.6% higher year on year, influenced by the raise in precious metals. All companies in mining paid US$9.9 B (US$9,888 million in Mexican notation) in 2020 and provided work to 9,600 suppliers.  
  • Americas Gold and Silver director and high-level government executives met to try to find a solution to the union conflict affecting the company at its Cosalá operations in Sinaloa. Last week the president of Mexico threatened with legal action to invalidate the company’s mining concession (there is no legal basis to revoke the concession).
  • Minera Cuzcatlán (Fortuna Silver) informed there is no environmental damage produced by a spill of tailings during a storm in 2018 at its San José mine in Oaxaca.

ON EXPLORATION

  • Heliostar Metals Ltd. released results from the first two holes ever drilled at the 6,360 hectare La Lola project in Sonora. The company is testing the main La Barra quartz-calcite-fluorite vein, which is up to 40 meters in width and runs for 5 kilometers and shows textures typical of shallow low sulfidation epithermal systems. A massive to crystalline quartz-calcite-fluorite subparallel vein to La Barra vein returned a core length interval of 2.5 m @ 0.01 gpt Au, 92 gpt Ag.
  • Silver Wolf Exploration Ltd. released results from surface grab samples from its 2,549 ha Ana Maria project in Durango. Initial work includes ASTER image analysis followed by a drone Lidar and hyperspectral data acquisition and analysis. Results from the 22 grab samples include up to 0.96 gpt Au, 12 gpt Ag, 3,770 ppm Cu, 1,440 ppm Pb, 278 ppm Zn, 50% Fe, 4.5% Ba, 2,450 ppm W. CRD mineralization is the target in a sedimentary package affected by an intrusive igneous stock.
  • Commander Resources Ltd. reported results from a soil survey program at its 1,750 ha Pedro project in Durango. The epithermal gold target is 4 km long by 1 km in width, as defined by gold and arsenic in soils, rocks and IP geophysics. “Outcrop exposure comprises prominent hematite-stained silica-rich ridges of angular chalcedony fragments and silicified sedimentary rocks within an angular course breccia. The mineralization extends beneath post-mineral volcanic rocks, colluvium … and alluvium”.
  • Vizsla Silver Corp. released results from 16 holes on the Tajitos zone of the Panuco project in Sinaloa. These holes expand the length of Tajitos to over 525 m, while nine other completed holes are awaiting results. Highlighted true width intervals comprise 2.5 m @ 1,586 gpt Ag, 7.72 gpt Au; 4.48 m 351 gpt Ag, 4.52 gpt Au; 7.94 m @ 387 gpt Ag, 2.25 gpt Au (including 1.44 m @ 1,365 gpt Ag, 8.35 gpt Au).
  • Brigadier Gold Ltd. continues drilling at its Picachos property in Sinaloa. To date 4,538 m of the planned 5,000 m on phase-1 diamond drilling program has been completed in 43 holes that mainly targeted the more than 7 km long Colcomeca vein system. “Several stages of mineralization are apparent from inspection of the drill core: (i) pervasive silicification with disseminated sulfide that is oxidized to hematite, (ii) crustiform quartz veining with sulfides, and (iii) cockade breccias in the central part of the structure. These breccias consist of angular rock fragments that are altered to a soft black mica on fragment margins”.

ON MINING

  • McEwen Mining Inc. informed activities at El Gallo project in Sinaloa have been restored after the illegal blockade. A new 10-year agreement was reached providing additional support to the communities and greater long-term certainty for El Gallo operation.
  • Prime Mining Corp. reported its operating and financial results for third quarter of fiscal year 2021, ended on January 2021. In January Prime paid Vista Gold Corp. US$1.1 M in accordance with terms on the Los Reyes project (Sinaloa) agreement; a final payment of $1 M is due in July 2021. Before the end of the quarter 1,053 m of drilling were completed in 5 holes. Two more drill rigs have been mobilized to the project for expansion of known in-pit resources along strike and dip, and infill drill areas to increase measured and indicated resources and target other structures for resource expansion and discovery.
  • Mag Silver Corp. released its audited consolidated financial results for 2020. Processing at the nearby Fresnillo mine plant of mineralized material from development headings began in August, with 71,859 tonnes milled @ 328 gpt Ag, producing 616.3 K Oz Ag, 1,029 Oz Au, 163 tonnes Pb, 224 tonnes Zn, netting $11.46 M as gross profit. Construction of the 4,000 tpd Juanicipio plant continues and the underground development now exceeds 35 km. The plant is now expected to commence commissioning in Q4-2021 and to reach 90-95% capacity in 2022. By the end of the period the company had cash and cash equivalents of $94 M.

ON FINANCING

  • Colibri Resource Corp. is to conduct a non-brokered private placement for gross proceeds of up to CAD$2.2 M. (Evelyn, Sonora).
  • Sonoro Gold Corp. will undertake a non-brokered private placement offering to raise up to C$2 M (Cerro Caliche, Sonora).
  • Telson Mining Corp. closed the non-brokered private placement announced in February, for aggregate gross proceeds of $10.08 M (Tahuehueto, Durango).
  • Equinox Gold Corp. announced that in response to a request from Solaris Resources Inc. the company has agreed to sell 10 M shares of Solaris for gross proceeds of C$82.5 M (Los Filos, Guerrero).
  • Torex Gold Resources Inc. announced the early repayment of the $40 M of debt in relation to the 2019 Debt Facility and is now debt free other than approximately $5 M of finance leases. Torex has signed a Third Amended and Restated Credit Agreement in connection with a two-year senior secured $150 M revolving debt facility (Limón Guajes, Guerrero).
  • Reyna Silver Corp. will make an application to the TSX Venture Exchange for issuing $699.3 K in common shares as compensation to technical consultors and advisors advancing the portfolio properties of Reyna Silver (Guigui, Chihuahua).

ON RESOURCES AND DEVELOPMENT

  • Fortuna Silver Mines Ltd. released results from step-out drilling at the San Jose mine in Oaxaca. The 4,670 m program in 22 holes established continuity of high-grade mineralization in the upper levels of the La Trinidad footwall structures. Highlighted true width intercepts comprise 4.1 m @ 699 gpt Ag, 3.57 gpt Au; 5.4 m @ 1,931 gpt Ag, 6.76 gpt Au; 9.5 m @ 306 gpt Ag, 1.38 gpt Au; 3.4 m @ 760 gpt Ag, 3.24 gpt Au; 8.4 m @ 967 gpt Ag, 4.25 gpt Au; 1.4 m @ 809 gpt Ag, 2.78 gpt Au; 14.9 m @ 473 gpt Ag, 1.25 gpt Au. “The Brownfields exploration program budget for 2021 at the San Jose Mine is US$10.9 million, which includes 33,800 meters of diamond drilling and 1,770 meters of underground development for drilling access, platforms, and services”.
  • Argonaut Gold Inc. released a new mineral resource estimate to the end of 2020, including figures for its projects in Mexico. The table below includes figures for El Castillo and San Agustin in Durango, La Colorada in Sonora, Ana Paula in Guerrero and San Antonio in Baja California Sur.    
  • SilverCrest Metals Inc. released financial results for 2020 and updated on construction and exploration activities. At Las Chispas, in Sonora, 173,000 m of in-fill and expansion drilling and 6.1 km of underground development and in-vein drifting were completed in 2020. At the end of the year SilverCrest entered into a $76.5 M construction contract for a 1,250 tonnes per day process plant at Las Chispas. In February 2021 a feasibility study (FS) was completed, at an estimated cost of $137.7 M; also in February the company completed a bought deal offering for gross proceeds of $138.1 M. The Picacho property, 40 km from Las Chispas, was acquired in mid 2020, and 5,800 m were drilled before the end of the period. For 2021, 356,000 m of drilling are planned, mostly at Las Chispas; currently there are six core rigs at Las Chispas and three at Picacho, with 22,000 m and 10,000 m already drilled during 2021 respectively. At the end of 2020 the company held $135.1 M as cash and cash equivalents.
  • Southern Silver Exploration Corp. reported high-grade Cu-Au-Ag intercepts at its Cerro Las Minitas project in Durango. At Mina La Bocona target, highlighted true-width intervals comprise: 6.3 m @ 134 gpt Ag, 0.5 gpt Au, 2.3% Cu (including 1.1 m @ 567 gpt Ag, 2.3 gpt Au, 11.2% Cu in the Bocona Chimney, and 3.8 m @ 217 gpt Ag, 0.3 gpt Au, 3.3% Pb, 0.7% Zn in the Muralla Chimney.
  • Torex gold Resources Inc. reported that in 2020 total reserves for El Limón Guajes complex in Guerrero declined 15% due to depletion. The table below shows total reserves and resources to the end of 2020.
  • Ridgestone Mining Inc. provided an update on activities at its Rebeico and Guadalupe y Calvo projects. At Guadalupe y Calvo in Chihuahua, Ridgestone is working to review all the historical data in the project, which includes over 78,000 m of drilling since the early 2000’s. “The Company anticipates a phased exploration drill program which will serve to confirm the continuity within the historical resource area, in addition to targeting a significant expansion of known mineralization”. At Rebeico, in Sonora, “The Company is currently recompiling and reinterpreting the results from prior exploration campaigns and anticipates providing an update in the near-term”.
  • Minera Alamos Inc. selected TRIGUSA as mining contractor for its Santa mine in Sonora. “Trigusa’s mining experience includes open pit mining, crushing, tailings dam construction and heap leach pads and ponds at projects in multiple states including Sonora”. The major construction activities related to the gold recovery (carbon) plant are now complete and the initial heap leach pad area has also been completed.
  • GoGold Resources Inc. released the results from 7 drill holes from El Orito area at its Los Ricos North project in Jalisco. Highlighted core length intercepts comprise 25.9 m @ 9 gpt Ag, 0.25%Pb, 0.85% Zn; 20.0 m @ 10 gpt Ag, 0.27% Pb, 1.08% Zn; 28.2 m @ 45 gpt Ag, 0.10 gpt Au, 0.58% Pb, 1.26% Zn; 11.4 m @ 27 gpt Ag, 0.24% Cu, 2.04% Pb, 5.20% Zn; 48.6 m @ 35 gpt Ag, 0.19% Cu, 1.24% Pb, 2.36% Zn (including 6.4 m @ 139 gpt Ag, 0.17 gpt Au, 0.82% Cu, 3.76% Pb, 6.70% Zn); 31.4 m @ 44 gpt Ag, 0.10 gpt Au, 0.13% Cu, 0.89% Pb, 0.86% Zn; 31.4 m @ 35 gpt Ag, 0.20 gpt Au, 0.14% Cu, 0.36% Pb, 0.28% Zn. “The El Orito deposit is unique in the Los Ricos district as it is the deeper part of the system where silver and base metals are present, while the other targets in the system to date have shown only silver and gold”.
  • First Majestic Silver Corp. filed updated technical reports for its three operating mines: San Dimas in Sinaloa, Santa Elena in Sonora and La Encantada in Coahuila. Below is a table that also includes the resources for San Martín in Jalisco, La Parrilla in Durango, Del Toro in Zacatecas and La Guitarra in Estado de Mexico.
  • Fabled Silver Gold Corp. informed on the currently ongoing  8,000 m drilling program at its Santa Maria project in Chihuahua. “We are heading into areas never explored before, with new ideas to test our structure-on-structure theory over the Property. Hole SM20-07 intercepted two broad zones of northwest trending, never seen before, semi-massive marcasite, (pyrite) in hornfels, and to the east 225 meters, we tried to cross the major C1 regional north – south fault in the center of the Property.”

ON DEALS AND CORPORATE ISSUES

  • GR Silver Mining Ltd. completed the acquisition of Marlin Gold Mining Ltd., which owns La Trinidad mine in Sinaloa and 12 concessions totaling 107,392 ha adjacent to GR Silver’s existing portfolio of properties. The properties come with a database that includes 700 stream sediment samples, 500 rock samples and over 9,000 soil samples. A total of 40,500 m of diamond, RC and sonic drilling were completed by previous operators. GR Silver will pay CDN$50 K to Mako, and “Oro Gold will grant Mako a 1% net smelter return (“NSR”) royalty on the concessions owned by Oro Gold. GR Silver Mining and/or Oro Gold will be granted the right to purchase the NSR at any time upon making a one-time payment of US$2,000,000. Mako shall be responsible for and shall pay all costs related to the Closure Plan Activities at La Trinidad….”.
  • Silver Bull Resources Inc. announced “it has won a definitive and conclusive decision in its favor in a lawsuit filed by a local mining co-operative called Minera Norteños in relation to the Sierra Mojada project” (Coahuila). “Despite the fact that the Company has at all times proceeded in accordance with the law, the Sierra Mojada project remains under an illegal blockade manned by a small group of radical members from within Minera Norteños. We believe their actions do not represent the view of the vast majority of the Minera Norteños members and wider local community, and we are working with authorities to resolve the situation in a safe, fair, and timely manner. We remain committed to good faith dialogue with selected members from Minera Norteños to find a solution….”
  • Argonaut Gold Inc. informed that the previously announced definitive agreement to sell its Ana Paula project in Guerrero expired in March 31, 2021. “The acquiring company did not fulfill its obligations in relation to financing and receipt of certain regulatory and other approvals”.

ON SOCIAL RESPONSIBILITY

  • Fresnillo PLC informed on cultural activities aimed at helping local communities and improving the environment.

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

On the image below:  Boiling texture in a quartz vein from a project in Sonora. Picture by Jorge Cirett.