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First Majestic Announces Closing Sale of La Parrilla
Redstar Gold Corp. Announces Agreement to Acquire Heliodor Metals Limited
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Vancouver, Canada, July 23rd 2020 – Redstar Gold Corp. (TSX.V: RGC, US: RGCTF, FRA: RGG) (“Redstar” or the “Company”) is delighted to announce that it has entered into a binding agreement to acquire 100% of the shares of Heliodor Metals Limited (“Heliodor”) in which Redstar Gold has agreed to issue 86.5 million Redstar shares at a deemed Redstar share price of C$0.054541 for 100% of the outstanding Heliodor shares.
Orex and Pan American Sign Letter Agreement for Sandra Escobar Project in Durango, Mexico
Vancouver, BC — Orex Minerals Inc. — (TSX.V: REX — OTCQB: ORMNF) (“Orex”), is pleased to announce that they have entered into an agreement (the “Letter Agreement”) with Pan American Silver Corp. — (TSX: PAAS — NASDAQ: PAAS), through its subsidiary Plata Panamericana SA de CV (“Pan American”), regarding the Sandra Escobar Project, in northern Durango, Mexico.
DISCOVERY METALS AND LEVON RESOURCES ENTER INTO ARRANGEMENT AGREEMENT
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Vancouver, B.C. – Discovery Metals Corp. (“Discovery”) (TSXV: DSV) and Levon Resources Ltd. (“Levon”) (TSX: LVN) are pleased to announce that they have entered into an arrangement agreement (the “Agreement”) to combine Discovery and Levon to create a leading silver-focused exploration and development company that will control several district-scale projects in Mexico (the “Transaction”).
Radius Gold intercepts 44 meters grading 12.38 g/t Au and 309.3 g/t Ag at Amalia Project, Mexico
Vancouver, Canada: Radius Gold Inc. (TSX-V: RDU) is pleased to announce the first results from the second round of its diamond drill program at the Amalia Gold-Silver Project in Chihuahua, Mexico. The program is operated by Radius and funded by Pan American Silver under a joint venture agreement. The first hole of 2019, AMDD19-010, has intersected 44m grading 12.38 g/t Au and 309.3 g/t Ag including an 11m section grading 39.9 g/t Au and 323 g/t Ag. Estimated true width of the mineralized
zone is 34m.
Discovery Metals Amends Terms of Puerto Rico Option Agreement and Signs 30-Year Exploration and Mining Agreement with Ejido
April 25, 2019, Toronto, Ontario – Discovery Metals Corp. (TSX-V: DSV) (“Discovery” or the “Company”) is pleased to announce amendments to the terms of the Property Option Agreement (the “Option Agreement”) on its Puerto Rico Project (the “Project”), located in Coahuila State, Mexico while concurrently signing a 30-year exploration and mining agreement with the Boquillas del Carmen Ejido (the “Ejido”).
Aura Announces Agreement on its East Taviche Project
Aura Resources Inc. (TSX-V:AUU) (“Aura” or the “Company”) announces that it has entered into a definitive agreement with Minaurum Gold Inc. (TSX-V:MGG) (“Minaurum”) and its Mexican subsidiary whereby Minaurum will acquire an interest in the Company’s East Taviche property located in Oaxaca, Mexico.
Camrova Resources Inc. Announces Option Agreement and Private Placement
TORONTO, Dec. 24, 2018 (GLOBE NEWSWIRE) — CAMROVA RESOURCES INC. (TSX V “CAV” OTC: BAJFF, SSE: CAVCL, CAVUSA) (“Camrova” or the “Company”) announced today it has entered into an option agreement (the “Option”) with Armex Mining Corp., a private mining company located in Vancouver, British Columbia (“Armex”) granting it the right, effective as of December 24, 2018 (the “Effective Date”) to earn up to a 50% interest in and to certain mineral claims adjacent to and forming part of Armex’s Goldstream Mine Project located approximately 100 kilometers north of Revelstoke, British Columbia (the “Property”). Under the terms of the Option, Camrova is entitled to earn its interest by making cash payments aggregating CAD$5,000,000 and incurring exploration and related capital expenditures on the Property aggregating CAD$45,000,000 over five years following the Effective Date.
Highlights on the Fifth Week of November, 2018. Mining and Exploration News in Mexico
Plagioclase lined epidote patches and veinlets in andesitic volcanic rocks in Jalisco. Picture by Jorge Cirett.
By Jorge Cirett
During the 48th week of the year (November 26th to December 2nd, 2018), at least 16 press releases were announced by companies working in Mexico. Minaurum, Mexus Gold and Harvest Gold released news on exploration. Impact Silver and Santacruz Silver released third quarter results; America Silver increased production and Goldcorp is commissioning a new plant. Silver Spruce and SilverCrest announced news on financing. Endeavour Silver presented results from drilling. Americas Silver, Telson Mining, Candente Gold, Aura Silver and Firma Holding presented news on deals and corporate issues. ON MEXICO ISSUES, Andrés Manuel López Obrador was sworn as Mexico’s president for the next six years. ON EXPLORATION, In Sonora, Minaurum Gold released high grade gold results from surface sampling of a new vein at its Alamos property; Mexus Gold continues drilling at its Santa Elena project. In Chihuahua, Harvest Gold informed on drilling at its Cerro Cascaron project in Chihuahua. ON MINING, Impact Silver and Santacruz Silver presented quarterly reports. Americas Silver increased production rates at Cosalá, in Sinaloa, and Goldcorp produced first gold on its pyrites plant in Peñasquito, Zacatecas. ON FINANCING, Silver Spruce was granted an extension on its financing round. SilverCrest is securing a $30.6 M investment by SSR Mining. ON RESOURCES AND DEVELOPMENT, Endeavour Silver reported high-grade intersections from Bolañitos, in Zacatecas. ON DEALS AND CORPORATE ISSUES, Americas Silver and Pershing Gold are to complete a business combination. Telson Mining announced the amending of a loan agreement with Nyrstar. Candente Gold and Sun River signed an agreement on El Oro tailings in Estado de Mexico. Aura Silver is to change name to Aura Resources Inc. Grace Point Mining owns now the Magistral project in Sinaloa.
ON MEXICO ISSUES
- On December 1st 2018, Andrés Manuel López Obrador, a life-long left wing politician, took charge as Mexico’s president for the next six years (2018-2024).
ON EXPLORATION
- Minaurum Gold Inc. released high grade gold assays from rock chip sampling on the Alessandra vein at its Alamos project in Sonora.The new vein is the first showing high grade gold in the project, measures more than 4 m in width, can be clearly traced for 1.1 km and topography suggest it might extend for another kilometer. Highlighted rock chip samples include: 0.4 m @ 17 ppb Au, <1 g/t Ag, 2.22% Cu, 0.98% Pb, 2.04% Zn; 1.0 m @ 9 ppb Au, 16 g/t Ag, 0.04% Pb, 0.06% Zn; 1.0 m @ 8 ppb Au, 6 g/t Ag, 1.55% Cu; 0.3 m @ 102,000 ppb Au (102 g/t Au), 29 g/t Ag, 1.94% Cu, 0.07% Pb, 0.25% Zn; 1.0 m @ 619 ppb Au, 4.63% Cu; 0.5 m @ 65 ppb Au, 4 g/t Ag, 2.97% Cu, 0.64% Pb, 4.90% Zn.
- Mexus Gold US. continues drilling at its Santa Elena project in Sonora (not to be mistaken with First Majestic’s Santa Elena mine, also in Sonora), and is now on its 7th hole. “Drill holes proved the continuity at depth of the main quartz vein varying in width from 0.75 m up to 2.0 meters at 25 to 35 meters deep with a dip angle of 45 degrees to the East”. A shallow dipping shear-fault zone consisting of fault-gouge-mylonite with siderite, hematite and quartz fragments has also consistently being intercepted with 7 to 12 m widths. Holes onward from hole 5 are targeting deeper parts of the Julio vein.
- Harvest Gold Corp. informed three holes at the Cascarita high grade prospect at its Cerro Cascaron project in Chihuahua have been completed, after delays by unexpected heavy rains at the start of the drilling campaign. The rig is being moved by helicopter to drill the Serpiente Dorada and San Pedro targets.
ON MINING
- Impact Silver Corp. released third quarter 2018 results. Mill throughput was 42.23 K tonnes @ 165 g/t Ag, to produce 179.5 K Oz Ag. Revenues for the quarter were $3.1 M, EBITDA -$1.5 M, a net loss of $1.4 M, of which $0.4 M was amortization and depletion.The focus now is on development of areas of higher grade ore. Impact is currently raising a non-brokered financing, the fourth capital raise in company history (San Ramón, Estado de México).
- Americas Silver Corp. informed production was increased to over 1,700 tonnes per day (tpd) during October at its San Rafael mine in the Cosalá district in Sinaloa.
- GoldCorp Inc. announced first gold has been achieved at its Peñasquito’s Pyrite Leach Project (PLP) in Zacatecas, Mexico. “Commissioning commenced in the third quarter of 2018 and the PLP is now processing 100% of the existing plant tailings. The PLP plant is operating 24 hours a day and is continuing the planned ramp-up process”. Commercial production is now expected by the end of 2018.
- Santacruz Silver Mining Ltd. reported third quarter 2018 financial results. At Veta Grande in Zacatecas, and Rosario in San Luis Potosi, 58 K tonnes were processed to produce 249.4 K Oz Ag at cash cost $27.40 and AISC of $31.07 per AgEq Oz. Santacruz recorded a net loss of $2.9 M during the period and a negative EBITDA of $2.74 M.
ON FINANCING
- Silver Spruce Resources Inc. was granted an extension by the TSX Venture Exchange to complete the previously announced non-brokered private placement to raise up to $1.5 M (Pino de Plata, Chihuahua).
- SilverCrest Metals Inc. announced SSR Mining Inc. has agreed to invest $30.66 M (C$40 M) in a non-brokered private placement financing. As long as SSR hold more than 5% of SilverCrest outstanding shares,it is entitled to acquire up to a maximum of 9.9% of the shares, participation rights to maintain pro rata share ownership interest, a right of first refusal on any proposed royalty, stream of off take agreement and certain information rights to Las Chispas technical and scientific data.
ON RESOURCES AND DEVELOPMENT
- Endeavour Silver Corp. reported high-grade intersections from the drilling program at the Bolañitos mine in Guanajuato. “A total of 55 drill holes from surface and 11,000 metres were completed by the end of October on seven different vein targets, all of which are located within four kilometres of the Bolanitos plant”. Some true width (TW) highlighted intervals: 8.0 m @ 2.68 g/t Au, 6 g/t Ag; 1.2 m @ 13.17 g/t Au, 138 g/t Ag; 2.2 m @ 2.19 g/t Au, 53 g/t Ag; 2.2 m@ 2.05 g/t Au, 121 g/t Ag; 1.5 m @ 3.74 g/t Au, 49 g/t Ag; 1.3 m @ 2.92 g/t Au, 51 g/t Ag; 1.9 m @ 2.62 g/t Au, 18 g/t Ag; 1.5 m @ 8.66 g/t Au, 89 g/t Ag; 1.1 m @ 2.25 g/t Au, 1,415 g/t Ag; 1.6 m @ 6.79 g/t Au, 420 g/t Ag; 1.9 m @ 3.42 g/t Au, 102 g/t Ag; 1.4 m @ 2.38 g/t Au, 635 g/t Ag.
ON DEALS AND CORPORATE ISSUES
- Americas Silver Corp. entered last September into a definitive agreement to complete a business combination with Pershing Gold, which owns the Relief Canyon project in Nevada. Relief Canyon is expected to produce 75-90 K Oz Au annually for at least seven years of mine life. Both Americas Silver and Pershing Gold shareholders have to vote on the transaction prior to a meeting on January (Cosalá, Sinaloa).
- Telson Mining Corp. reached an agreement with Nyrstar Holdings Ltd. to amend the terms of its loan agreement. Among the main terms, Telson paid US$500 K plus interest and agreed to pay monthly installments of US$500 K plus interest until October 2019, at 10% per annum. Along with these payments, Telson will also pay 70% of any monthly cash flow, plus any monthly excess cash balance above US$500 K plus 50% of the monthly free cash flow generated by Telson’s Tahehueto project, once it declares commercial production (Campo Morado,Guerrero).
- Candente Gold Corp. signed a definitive agreement with Sun River Gold Corp. in which Sun River has the option to further test and, if proven economic, develop and operate the Candente’s tailings project in El Oro, Estado de México. Besides an already made payment of US$170 K, Sun River has to make staged payments to complete US$300 K within 15 months from the signing on November 2017 and grant Candente a 10% of net profits life of mine royalty. The tailings contain an inferred resource of 1.27 K tonnes containing 119.9 K Oz Au, 3 M Oz Ag (El Oro, Estado de México).
- Aura Silver Resources. Announced its shareholders approved the name change to Aura Resources Inc., and a five to one consolidation of the shares, on a meeting held on November 15th, 2018 (Taviche, Oaxaca).
- Firma Holdings Corp. announced “that its subsidiary GracePoint Mining Corp. and MX Gold Corp., signed a confidential mutual release”. As a result, MX Gold no longer has any rights,ownership interests, liabilities, or obligations associated with the Magistral Project, and GracePoint Mining Corp. owns 100% of the Magistral project in Sinaloa.
Content like what you have just read can beseen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.
On the image above, plagioclase lined epidote patches and veinlets in andesitic volcanic rocks in Jalisco. Picture by Jorge Cirett.