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The Mining and Exploration News in Mexico: Highlights on the Third Week of July, 2025

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Barite crystals

By Miguel A Heredia

During the 29th week of the year (July 13th to July 20th 2025), at least 38 press releases were announced by companies working in Mexico, with fifteen disclosing deals and corporate issues, fifteen announcing financing rounds, three reporting resources and developments of their properties, two communicating production results, two informing on exploration results, and one commenting on Mexican issues.  ON MEXICO ISSUES, Torex Gold and Minaurum Gold reported the best drilling intercepts in Mexico on the third week of July, 2025.  ON EXPLORATION, In Sonora, Minaurum Gold reported drill results from a new vein zone target at the Promontorio Sur within its Alamos project. In Zacatecas and San Luis Potosi, Silver Valley Metals re-initiated exploration at the Mexi-Can Potash-Lithium project.  ON MINING, Altius reported Q2, 2025 expected attributable royalty revenue of CAD $12M (Llano de Nogal project, Sonora). Bear Creek reported Q2, 2025 production results from its Mercedes mine in Sonora. ON FINANCING, Vizsla Silver announced that after it completed bought deal offering of 33,334,000 common shares at a price of USD $3 per share, the underwriters have purchased an additional 5,000,100 common shares for gross proceeds of USD $15,000,300 (Panuco project, Sinaloa).  Pinnacle arranged a non-brokered private placement for gross proceeds of USD $1.2M (El Potrero project, Durango). Sierra Madre entered into a best offer private placement for gross proceeds of up to USD $10M, which later on it upsized of up to USD $16.5M (La Guitarra mine, Estado de Mexico).  Southern Silver announced bought deal LIFE private placement for gross proceeds of CAD $8M, the same that later on it upsized to CAD $13M (Cerro Las Minitas project, Durango). Mammoth upsized its previously announced non-brokered private placement to up to CAD $980K (Tenoriba project, Chihuahua). Roberto Resources announced a non-brokered private placement for gross proceeds of CAD $1M (Claudia project, Durango).  Aura Minerals published that it priced and closed its US initial public offering of 8,100,510 common shares at a price of USD $24.25 per share (Aranzazu mine, Zacatecas). Colibri announced that it intends to amend terms of outstanding debentures, warrants, and finder’s options issued in 2023 (Gran Pilar project, Sonora). Capitan Silver generated CAD $6.6M through the accelerated exercise of warrants (Cruz de Plata project, Durango). Garibaldi closed a non-brokered private placement for gross proceeds of CAD $1M (Tonichi project, Sonora). Goldgroup announced a non-brokered private placement for gross proceeds of up to 15,000,000 units at a price of CAD $0.80 per unit for gross proceeds of up to CAD $12M (Pinos project, Zacatecas). Prismo Metals upsized and closed its previously announced private placement for gross proceeds of CAD $575K (Palos Verdes project, Sinaloa).  ON RESOURCES AND DEVELOPMENT, Starcore shared an update on its San Juan Nepomuceno or Tortilla project in Queretaro. Orla filed an updated NI 43-101 technical report on Camino Rojo mine in Zacatecas. Torex Gold reported drill results from its EPO deposit within the El Limon Guajes and Media Luna mine complex in Guerrero. ON DEALS AND CORPORATE ISSUES, Apollo Silver entered into an investor relations agreement with Matthews Investments (Cinco de Mayo project, Chihuahua). Vizsla Royalties announced its participation at the Emerging Growth Conference (Panuco project, Sinaloa). US Antimony provided an update on its antimony supply effort for its Madero smelter in Coahuila. GR Silver announced incentive plan grants to eligible persons in accordance with the Omnibus Long-Term Incentive Plan (Plomosas project, Sinaloa). Defiance Silver signed a definitive agreement to acquire all issued and outstanding common shares of Green Earth Metals (San Acacio project, Zacatecas). Almaden announces intention to migrate Canadian stock exchange listing from TSX to TSX Venture Exchange (Ixtaca project, Puebla).  Candelaria Mining reported voting results from its annual general meeting of shareholders. Roberto Resources completed the acquisition of the Claudia project in Durango and announced change of its name to Pacific Silver.  Pinnacle declared that it has engaged the services of an independent trading group to provide market-making services (Potrero project, Durango). Oroco entered into an option agreement to acquire a 100% interest in the Vainilla mineral concession located in the Choix mining district in Sinaloa. Starcore announced significant corporate developments (San Martin mine, Queretaro).  Minera Alamos reported voting results from its annual general meeting of shareholders (Santana mine, Sonora). Almadex announced completion of gold loan repayment by Almaden (El Cobre project, Veracruz).  ( ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • Torex Gold Resources Inc., and Minaurum Gold Inc., reported the best drilling intercepts in Mexico on the third week of July, 2025. Details are shown in the table below:

ON EXPLORATION

  • Silver Valley Metals Corp., re-initiated exploration at the Mexi-Can Potash-Lithium project in Zacatecas and San Luis Potosi. The company will be conducting metallurgical studies on potash extraction, focusing on the extraction of sulphate of potash from surface sediments across all salars within the project area; will undertake auger drilling to assess the depth and extents of sedimentary basins across the project´s salars; will initiate hydrological testing to gain a clear understanding of the geochemical and physical properties of near-surface brines across all salars; and will carry out a geophysical program to map subsurface structures and identify high-potential zones for deeper brine targets.
  • Minaurum Gold Inc., reported drill results from a new vein zone target at the Promontorio Sur within its Alamos project in Sonora. The 1.5 km-long vein zone is an unmined extension of a 3.5km long Promontorio-Quintera structural-grade vein system trend, with significant historical silver production nearby, which has produced over 70M Oz Ag at Promontorio mine and over 100M Oz Ag at La Quintera mine. Promontorio and Promontorio Sur also indicate a significant skarn/carbonate replacement (CRD) mineralization hosted by limestone in the footwall of the vein zones. The lead-zinc (gold) skarn/CRD event appears to have occurred later than the epithermal silver-copper mineralization and represents a large target. Drilling results are shown in the table below:

ON MINING

  • Altius Minerals Corporation reported Q2, 2025 expected attributable royalty revenue of CAD $12M (Llano de Nogal project, Sonora).
  • Bear Creek Mining Corporation reported Q2, 2025 production results from its Mercedes mine in Sonora. The company mined 91.945 tonnes and processed 89,488 tonnes of 2.88 g/t Au with a metallurgical recovery of 96% to produce 7,973 Oz Au and 33,932 Oz Ag.

ON FINANCING

  • Vizsla Silver Corp., announced that after it completed bought deal offering of 33,334,000 common shares at a price of USD $3 per share, the underwriters have purchased an additional 5,000,100 common shares for gross proceeds of USD $15,000,300. Gross proceeds will be used to advance the exploration and development of the Panuco project in Sinaloa, exploration of the Santa Fe project, which is adjacent to Panuco project, potential future acquisitions, as well as for working capital and general corporate purposes.
  • Pinnacle Silver and Gold Corp., arranged a non-brokered private placement of up to 20,000,000 units at a price of USD $0.06 per unit for gross proceeds of USD $1.2M. Net proceeds will be used to advance El Potrero project in Durango, and for general working capital.
  • Sierra Madre Gold and Silver Ltd., entered into a best offer private placement of up to 14,290,000 units at a price of USD $0.70 per unit for gross proceeds of up to USD $10M. Later on, the company upsized the previously announced private placement to up to 23,572,000 units at a price of usd $0.70 for gross proceeds of up to USD $16,500,400 Gross proceeds will be used to expand the capacity of the La Guitarra mine, Estado de Mexico, and for working capital and general corporate purposes. 
  • Southern Silver Exploration Corp., announced bought deal LIFE private placement with a sole underwriter and bookrunner which has agreed to purchase for resale 29,629,630 units at a price of CAD $0.27 for gross proceeds of CAD $8M. Later on, Southern Silver upsized the previously announced bought deal private placement to 48,148,149 units at a price of CAD $0.27 for gross proceeds of CAD $13M.  The company plans to use the net proceeds for the advancement of the Cerro Las Minitas project in Durango, as well as for working capital and general corporate purposes.
  • Mammoth Resources Corp., upsized its previously announced non-brokered private placement of up to 30,000,000 units at an offering price of CAD $0.025 per unit for gross proceeds of up to CAD $750K to up to  39,000,000 units for gross proceeds of up to CAD $980K. Gross proceeds will be used to advance the Tenoriba project in Chihuahua, to evaluate potential project acquisitions and support working capital needs.
  • Roberto Resources Inc., announced a non-brokered private placement of 2,500,000 units at a price of CAD $0.40 per unit for gross proceeds of CAD $1M. Gross proceeds will be used for general working capital and future payables related to the acquisition of the Claudia project in Durango.
  • Aura Minerals Inc., published that it priced and closed its US initial public offering of 8,100,510 common shares at a price of USD $24.25 per share.  The principal purposes of this offering are to transfer Aura’s principal listing venue to a stock exchange in the US equity market, which the Company believes will increase the liquidity of its common shares, as well as strengthen and diversify its shareholder base through broader access to global capital markets. Aura plans to use the gross proceeds to continue strengthening its business, to provide incremental liquidity and financial flexibility to support the execution of its current strategic growth initiatives, to provide exploration initiatives to expand mineral reserves and resources of its portfolio, and for general corporate purposes (Aranzazu mine, Zacatecas).
  • Colibri Resource Corporation announced that it intends to amend terms of outstanding debentures, warrants, and finder’s options issued in 2023. The amendments include extending maturity dates for two years and reducing conversion/exercise prices from CAD $0.50 to CAD $0.25, with an alternative option to convert at CAD $0.15.  The amendments include an accelerated expiry clause if the company’s stock price exceeds CAD $0.30 for ten consecutive days, and insider holdings are exempt from certain regulatory requirements. These changes aim to strengthen Colibri’s balance sheet and support its Pilar project development in Sonora.
  • Capitan Silver Corp., generated CAD $6.6M through the accelerated exercise of 13,250,000 warrants, with an exercise price of CAD $0.50 (Cruz de Plata project, Durango).
  • Garibaldi Resources Corp., closed a non-brokered private placement of 14,401,988 units at a price of CAD $0.07 per unit for gross proceeds of CAD $1M. Gross proceeds will be used for exploration and working capital purposes.
  • Goldgroup Mining Inc., announced a non-brokered private placement for gross proceeds of up to 15,000,000 units at a price of CAD $0.80 per unit for gross proceeds of up to CAD $12M. Net proceeds will be primarily dedicated to the diligent assessment and strategic pursuit of acquisition opportunities (Pinos project, Zacatecas).
  • Prismo Metals Inc., upsized and closed its previously announced private placement of 5,000,000 to 11,500,000 units at an issue price of CAD $0.05 per unit for gross proceeds of CAD $575K. Prismo intends to use the gross proceeds for general corporate purposes  (Palos Verdes project, Sinaloa).

ON RESOURCES AND DEVELOPMENT

  • Starcore International Mines Ltd., shared an update on its San Juan Nepomuceno or Tortilla project in Queretaro. The project comprises six mineral claims covering a historical mine with exploration potential. During  the due diligence process, Starcore conducted cyanidation tests on samples that averaged 2.15 g/t Au, 968 g/t Ag, 0.01% Cu, 0.4% Pb, and 0.1% Zn, showing gold and silver metallurgical recoveries of 79.85% and 84.75% respectively using the carbon-in-leach (CIL) process, demonstrating  effective processing of the mineralized ore. The project with historical mining activity remains open at-depth with substantial lateral extension potential.
  • Orla Mining Ltd., filed an updated NI 43-101 technical report on Camino Rojo mine in Zacatecas to include the initial Underground Mineral Resource Estimate.
  • Torex Gold Resources Inc., reported drill results from its EPO deposit within the El Limon Guajes and Media Luna mine complex in Guerrero. “Drilling in the northern area of EPO to date in 2025 has been focused on the northern block of the west-northwest La Avispa fault, which controls a dike swarm of an estimated width of 150 to 200 m that represents a discontinuity between the main EPO mineralized zone to the south and its northern extension within the hanging wall of the fault. The current mineralization footprint in the north extends approximately 500 x 200 m with a west-northwest strike that has a significant vertical continuity ranging between 15 m to over 100 m between the interpreted boundaries of the favourable alteration zone that vertically extends for ~200 m. The lateral continuity of the mineralization is defined by the spacing between the dikes that varies from approximately 5 to 35 m, defining several mineralized blocks. Mineralization remains open to the north following the favourable alteration zone “. Drilling highlight are shown in the table below:

ON DEALS AND CORPORATE ISSUES

  • Apollo Silver Corp., entered into an investor relations agreement with Matthews Investments to provide Investor Relations services to the company. In consideration, Matthews will receive CAD $7K per month, payable monthly in arrears, for an initial term of three months, with the option for the Company to renew on a quarterly basis thereafter (Cinco de Mayo project, Chihuahua)
  • Vizsla Royalties Corp., announced its participation at the Emerging Growth Conference on July 16, 2025, a live interactive online event which will give existing shareholders and the investment community the opportunity to interact with the company´s President and CEO (Panuco project, Sinaloa).
  • US Antimony Corporation (USAC) provided an update on its antimony supply effort for its Madero smelter in Coahuila. Last March, 2024, USAC decided to stop their own mining operations in Mexico due to economic and regulatory challenges but continues to build strategic relationships with other companies seeking access to Mexican antimony deposits. Recently, USAC restarted the Madero Smelter in April 2025, following a substantial increase in antimony prices (over 500%). The company is actively negotiating new supplies and contracts, including a definitive agreement with Bolivian suppliers for initial shipments of approximately 10 tonnes, ramping up to 150 tonnes per month by early 2026. Additionally, USAC is exploring other potential sources in Mexico and attracting foreign interest, particularly from Chinese entities, amid limited new concessions from the Mexican government. USAC owns significant assets, including a flotation facility and the only operating smelter in Mexico, which provide strong negotiating leverage.
  • GR Silver Mining Ltd., announced incentive plan grants to eligible persons in accordance with the Omnibus Long-Term Incentive Plan. GR Silver granted an aggregate 3,837,205 Performance Share Units (PSU) to certain executive officers of the company (Plomosas project, Sinaloa).
  • Defiance Silver Corp., signed a definitive agreement to acquire all issued and outstanding common shares of Green Earth Metals Inc (GEMS).  GEMS is a privately held company based on British Columbia with a portfolio of three copper-silver projects in Sonora. Defiance issued an aggregate of 4,954,613 common shares to the shareholders of GEMS at a deemed price of CAD $0.255 per Defiance share in exchange for all issued and outstanding GEMS shares, based on an exchange ratio of one Defiance share for every 4.52 GEMS shares, for a total consideration of CAD $1,263,426 (San Acacio project, Zacatecas).
  • Almaden Minerals Ltd., announces intention to migrate Canadian stock exchange listing from TSX to TSX Venture Exchange. In order to complete this migration, the company has applied to voluntarily delist its shares from the TSX, and has received conditional approval from the TSXV to list its shares as a Tier 2 Mining Issuer. Almaden expects the delisting from the TSX to occur at the close of business on August 12, and the listing on the TSXV to commence at the open of business on August 13, 2025 (Ixtaca project, Puebla).
  • Candelaria Mining Corp., reported voting results from its annual general meeting of shareholders. 
  • Roberto Resources Inc., completed the acquisition of the Claudia project in Durango, pursuant to the binding letter agreement previously announced on June 30, 2025. Roberto Resources also announced that it changed its name to Pacifica Silver Corp., “to better reflect its overall business strategy to acquire and advance highly prospective precious metals projects in the Americas”. It also plans to change the symbol of its common shares to “PSIL”.
  • Pinnacle Silver and Gold Corp., declared that it has engaged the services of an independent trading group (ITG) to provide market-making services. Under the agreement, ITG will receive compensation of CAD $5K per month, payable monthly in advance. The agreement is for an initial term of one month and will renew for additional one-month terms unless terminated (Potrero project, Durango).
  • Oroco Resources Corp., entered into an option agreement through its wholly-owned Mexican subsidiary Minera Xochipala S.A. de C.V., to acquire a 100% interest in the Vainilla mineral concession which surrounds their Santo Tomas Project in Sinaloa by paying an initial USD $75K and 100,000 common shares to Aztec Zinc de Mexico S.A. de C.V., with semi-annual payments of USD $25K and 100,000 common shares thereafter.  To exercise the option, Oroco must pay USD $500K and issue 2,000,000 shares. Upon completion, a 1.5% Net Smelter Returns royalty will be granted to third parties, and Xochipala will be responsible for concession duties during the option period.  Vainilla covers about 2,974 hectares and hosts multiple mineralized zones, including skarns and breccia pipes, situated along a promising porphyry copper belt. The acquisition enhances Oroco’s control over the region, offering immediate exploration opportunities for copper and related metals, and complements their existing Santo Tomás project both geologically and strategically, supported by local government initiatives.
  • Starcore International Mines Ltd., announced significant corporate developments. On July 8, 2025, shareholders will receive one share of EU Gold Mining Inc. for every two shares of Starcore upon approval of the spin-out of exploration interests in Côte d’Ivoire. On July 10, 2025, Starcore secured a ten-year lease for San Juan Nepomuceno, a historical silver mine in Queretaro, gaining access to minerals and surrounding claims in a promising area. On July 14, 2025, the company confirmed its use of carbon-in-leach (CIL) processing technology at the San Martin mine in Queretaro, enhancing mineral recovery, aiming to increase shareholders value, as shown by recent metallurgical tests.
  • Silver Storm Mining Ltd., completed its acquisition of Till Capital through a court-approved plan of arrangement, resulting in Till shareholders receiving 16.36 Silver Storm units, with each unit comprising a common share, a warrant, and a contingent value rights (CVRs) tied to a potential sale of a stake in IG Far East LLC (the CVR contingent event). Silver Storm issued 52,211,558 unit shares, 13,052,890 warrants, and 52,211,558 CVRs to former Till shareholders, resulting in a new total of outstanding shares and warrants for Silver Storm.  Following the deal, Silver Storm now holds a significantly expanded share structure, and Till’s previous directors and officers have resigned. This arrangement positions Silver Storm to potentially benefit from future asset sales and operational developments.
  • Minera Alamos Inc., reported voting results from its annual general meeting of shareholders (Santana mine, Sonora).
  • Almadex Minerals Ltd., announced completion of gold loan repayment by Almaden Minerals Ltd. The repayment involves the return to Almadex of 397 Oz Au plus the payment of USD $5,194,354 (El Cobre project, Veracruz).

ON SOCIAL RESPONSIBILITY

  • No relevant news.

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

On the picture below, large barite crystals in an intermediate sulphidation epithermal vein system in a project in Chihuahua, Mexico. Photo taken by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of March, 2025

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Galena and sphalerite in a IS epithermal quartz vein

By Miguel A Heredia

During the 13th week of the year (March 24th to March 30th 2025), at least 25 press releases were announced by companies working in Mexico, with seven announcing financial rounds, seven communicating production results, five disclosing deals and corporate issues, five reporting resources and development of theirs properties, and one commenting on Mexican issues.  ON MEXICO ISSUES, Tocvan and its JV partner Colibri reported the best drilling intercepts in Mexico on the fourth week of March, 2025. ON EXPLORATION, No relevant news.  ON MINING, MAG Silver reported 2024 annual financial results (Juanicipio mine, Zacatecas). Torex Gold reported the first copper concentrate production from its Media Luna project in Guerrero. Agnico announced that it will release Q1, 2025 results on April 24, 2025 (Pinos Altos mine, Chihuahua). Americas Gold and Silver reported full year 2024 production results from its Cosala mine complex in Sinaloa. Sierra Metals announced consolidated Q4 and full year 2024 financial and operation results (Bolivar mine, Chihuahua). Discovery reported Q4 and 2024 full year financial results (Cordero project, Chihuahua). Osisko Development reported Q4 and year-end 2024 results (San Antonio Gold project, Sonora).  ON FINANCING, Silver Storm entered into a debt settlement letter agreement with a drilling service provider (La Parrilla mine, Durango). Aura announced the renewal of its normal course issuer bid for buying back its common shares and a concurrent buyback program for its Brazilian depositary receipts (Aranzazu mine, Zacatecas). Silver Tiger announced a bought deal financing for gross proceeds of approximately CAD $15M (El Tigre project, Sonora). Colibri closed a second and final tranche of its non-brokered private placement for gross proceeds of $146,500 (Pilar project, Sonora). Heliostar closed its bough deal equity financing previously announced on March 20, 2025 for gross proceeds of $19.5M (Ana Paula project, Guerrero).  Goldgroup announced a second tranche closing for gross proceeds of CAD $775K (Cerro Prieto mine, Sonora). Silver Dollar granted stock options and awarded restricted share units to directors, officers, and consultants (La Joya project, Durango). ON RESOURCES AND DEVELOPMENT, Silver Storm filed a NI 43-101 technical report for its La Parrilla mine in Durango. Colibri and its JV Partner Tocvan, released drill assays from three holes drilled in its recent ten holes diamond drilling program at Pilar project, Sonora. Oroco reported advancements in its Santo Tomas project in Sinaloa.  Kingsmen announced the successful completion of a 3D induced polarization-resistivity survey at their fully owned Las Coloradas project in Chihuahua. ON DEALS AND CORPORATE ISSUES, MAG Silver announced its new dividend policy, which includes a fixed quarterly dividend of USD $0.02 per share and a cash flow-–linked dividend targeted at approximately 30% of cash flows from Juanicipio during Q4, 2024, at a realized price of USD $20 per Oz Ag. Fortuna announced that it will be present at Mining Forum Europe 2025 (San Jose mine, Oaxaca).  Oroco reported advancements in its Santo Tomas project in Sinaloa. Fortuna Mining filed its fiscal 2024 annual report with the U.S. Securities and Exchange Commission (SEC) (San Jose mine, Oaxaca). GoGold announced results of its annual and special meeting of shareholders (Los Ricos North and Los Ricos South properties, Jalisco). Equinox reported that it will hold its annual and special meeting of shareholders on April 24, 2025 (Los Filos mine, Guerrero).  ON SOCIAL RESPONSIBILITY, No relevant news.

ON MEXICO ISSUES

  • Tocvan Ventures Corp., and its JV partner Colibri Resources Corporation reported the best drilling intercepts in Mexico on the fourth week of March, 2025. Details are shown in the table below:

ON EXPLORATION

  • No relevant news.

ON MINING

  • MAG Silver Corp., reported 2024 annual financial results from its Juanicipio mine, Zacatecas, on a 100% basis (all amounts are expressed in US dollars).  The company mined 1,342,786 tonnes and processed 1,328,178 tonnes with grades of 468 g/t Ag, 1.25 g/t Au, 1.5% Pb, and 2.8% Zn (712 g/t AgEq) and sold 16.59M Oz Ag, 33.11K Oz Au, 36.4M Lb Pb, and 55.61M Lb Zn at cash and AISC of $0.88 and $5.54 per Oz Ag sold respectively or $8.67 and $12.03 per Oz AgEq sold respectively. MAG Silver also reported sales of $627.4M; gross profit of $382.65M; net income before taxes of $352.7; net income of $201.5M, MAG´s 44% portion of net income of $88.67M; and MAG´s 44% portion of equity income of $92.87M.
  • Torex Gold Resources Inc., reported that after three years after being released a feasibility study for its Media Luna project in Guerrero, the company completed the tie-in period at the processing plant and achieved the first copper concentrate production. Torex Gold successfully completed 83 tie-ins and commissioned 136 systems, with plans to start trucking copper concentrate soon and achieve commercial production in the coming weeks. Current mining operations are ramping up, and Torex is confident in reaching a steady-state mining rate of 7,500 tonnes per day by mid-2026, ahead of their scheduled target.
  • Agnico Eagle Mines Limited announced that it will release Q1, 2025 results on April 24, 2025 (Pinos Altos mine, Chihuahua).
  • Americas Gold and Silver Corporation reported full year 2024 production results from its Cosala mine complex in Sinaloa (all figures are in IUS dollars). The company produced 825K Oz Ag, 31.5M Lb Zn, and 9.7M Lb Pb or 2.5M Oz AgEq at cash and AISC of $17.41 and $28.13 per Oz AgEq respectively.
  • Sierra Metals Inc., announced consolidated Q4 and full year 2024 financial and operation results (all figures are in US dollars). For its Bolivar mine, Chihuahua, the company reported for Q4, 2024, a cost of sales of $24.63M; a total cash cost of $17.58M; and a cash cost per tonne processed of $38.05M. For the full year 2024, Sierra Metals reported a cost of sales of $87.41M; a total cash cost of $70.04M; and a cash cost per tonne processed of $43.07M. Cash and AISC for Q4, 2024 were $2.42 and $3.06 per Lb CuEq respectively; while for the full year 2024 were $2.50 and $3.21 per Lb CuEq respectively. The company also provided a 2025 production and cost guidance and expects to produce between 25.1M-27.4M Lb Cu, 680K-740K Oz Ag, and 7,400-8100 Oz Au at cash and AISC ranging from $2.64-$2.77 per Lb CuEq and $3.45-$3.62 per Lb CuEq respectively.
  • Discovery Silver Corp., reported Q4 and 2024 full year financial results (all figures are in Canadian dollars). Highlights for the period Q4, 2024 include a net loss of $7.92M; basic and diluted loss per share of $0.02; and a total comprehensive loss of $7.42M. Highlights for the 2024 full year include a net loss of $20.89M; basic and diluted loss per share of $0.05; and a total comprehensive loss of $23.59M. The company reported as of December 2024  cash and cash equivalent of $29.31M; total assets of $122.88M; total current liabilities of $8.61M; working capital of $24.40; and total shareholders’ equity of $111.99M (Cordero project, Chihuahua).
  • Osisko Development Corp., reported Q4 and year-end 2024 results (San Antonio Gold project, Sonora). The company also declared that its San Antonio Gold project in Sonora remains in care and maintenance, waiting for further guidance from the Mexican government regarding the permitting process and the status of open-pit mining in the country.  “The Company continues to conduct a strategic review of the project and engaged a financial advisor in connection thereof. The strategic review includes, among others, exploring the potential for a financial or strategic partner in the asset or a full or partial sale of the asset”.

ON FINANCING

  • Silver Storm Mining Ltd., entered into a debt settlement letter agreement with a drilling service provider to settle the company’s outstanding debt for past services performed in the amount of $578,200 by issuing 4,818,333 common shares in the capital of the company at a deemed price of $0.12 per common share.   (La Parrilla mine, Durango).
  • Aura Minerals Inc., announced the renewal of its normal course issuer bid for buying back its common shares and a concurrent buyback program for its Brazilian depositary receipts. Under the normal course issuer bid, the company may repurchase up to 2,694,168 common shares, representing 10% of the public float, starting March 26, 2025, and continuing until March 25, 2026. The buyback program allows for purchasing up to 8,082,504 Brazilian depositary receipts over 12 months. This initiative is aimed at enhancing shareholder value and reflects the company’s commitment to growth opportunities in the precious metals sector (Aranzazu mine, Zacatecas).
  • Silver Tiger Metals Inc., announced a bought deal financing from the sale of 45,455,000 common shares at a price of CAD $0.33 per common share for gross proceeds of approximately CAD $15M. The net proceeds will be used to fund exploration and development expenditures at its El Tigre project in Sonora, as well as for working capital and general corporate purposes.
  • Colibri Resource Corporation closed a second and final tranche of 5,816,000 units of its non-brokered private placement for gross proceeds of $146,500. Combined with the proceeds from tranche 1, the company has raised $286,900. Proceeds from the financing are expected to be applied as follows: approximately 20% for upcoming exploration expenses at Colibri’s highly prospective precious metals projects in Mexico, including the Pilar Gold Project & the EP Gold Project in Sonora, 65% for arm’s length creditors including payment of interest expenses on outstanding loans and up to 15% to non-arm’s length parties as reimbursement for expenses paid on behalf of the company by the non-arm’s length parties.
  • Heliostar Metals Ltd., closed its bough deal equity financing previously announced on March 20, 2025 for gross proceeds of $19.5M by issuing 19,500,000 common shares at a price of $1.0 per common share. The net proceeds of the Offering will be used for the development of the Company’s projects in Mexico, including drilling at Ana Paula project in Guerrero, and for general corporate purposes.
  • Goldgroup Mining Inc., announced a second tranche closing of its previously announced non-brokered private placement of 2,583,330 units at a price of CAD $0.30 per unit for gross proceeds of CAD $775K. Net proceeds will be used for improvements at Cerro Prieto mine in Sonora, preliminary economic assessment update of Pinos Altos project in Zacatecas, debt reduction and general working capital.
  • Silver Dollar Resources Inc., granted stock options to directors, officers, and consultants to purchase up to 2,050,000 shares of the company at a price of $0.30 per share until March 28, 2030 and awarded restricted share units to directors, officers, and consultants to receive up to 750,000 shares of the company (La Joya project, Durango).

ON RESOURCES AND DEVELOPMENT

  • Silver Storm Mining Ltd., filed a NI 43-101 technical report for its La Parrilla mine in Durango. This technical report updates the mineral resource estimate and highlights include a 107% increase in indicated mineral resources, from 5.2 M Oz AgEq in the 2023 mineral resource statement to 10.8 M Oz AgEq; 58% increase of inferred mineral resources, from 10.3 M Oz AgEq in the 2023 mineral resource statement to 16.3 M Oz AgEq; approximately 90% of the indicated and 85% of the inferred mineral resource tonnage is sulphide mineralization; 10% of the Indicated and 15% of the inferred mineral resource tonnage is oxide mineralization;  silver dominant: 66% of the indicated and 69% of the inferred updated mineral resource gross metal value is derived from silver; 23 additional mineralized structures have been modelled, including several that were previously mined by the former operator, with significant upside potential; and total all-in exploration cost of USD $0.22/ Oz AgEq discovered.
  • Colibri Resource Corporation and its JV Partner Tocvan Ventures Corp., released drill assays from the three holes drilled in its recent ten holes diamond drilling program at Pilar project, Sonora. The most significant intercept was encountered in hole JES-25-108 with 1.23 g/t Au, 14 g/t Ag, 0.02% Cu, 0.3% Pb, and 0.3% Zn over 64.90m, including 21.58 g/t Au, 208 g/t Ag, 0.2% Cu, 6.7% Pb, and 1.6% Zn over 3m, plus 2.84 g/t Au, 38 g/t Ag, 0.05% Cu, 0.2% Pb, and 2.3% Zn over 3.80, including 7.33 g/t Au, 101 g/t Ag, 0.13% Cu, 0.5% Pb, and 6% Zn over 1.4m. Results are still pending for the last three holes of this drilling program, which have tested the outer extents on mineralization.
  • Oroco Resources Corp., reported advancements in its Santo Tomas project in Sinaloa, following meetings in Mexico City with senior government officials, including Dr. Luis Rosendo Gutiérrez Romano, Undersecretary of the Mexican Economy, and other senior federal and state government officials. The discussions emphasized the project’s potential for responsible development and its contributions to the local economy in Sinaloa. Oroco holds an 85.5% interest in the core concessions of the project, with significant copper mineralization previously defined by extensive exploration. The project, supported by improved dialogue with the government, is positioned to benefit economically from its location near important infrastructure, including ports and railways. Oroco’s leadership is pleased with the governmental support and dialogue established during the meetings.
  • Kingsmen Resources Ltd., announced the successful completion of a 3D induced polarization-resistivity survey at their fully owned Las Coloradas project in Chihuahua Mexico. The survey identified five new high-priority drill targets associated with high chargeability and resistivity zones, complementing existing targets. A total of 14 drill holes are proposed for the upcoming program, which is based on findings from previous prospecting, mapping, and sampling efforts. The survey covered about one-third of the project area, including historic mining sites, and is expected to enhance confidence in the drilling initiative as it confirms and refines key mineralization targets at depths not previously tested.

ON DEALS AND CORPORATE ISSUES

  • MAG Silver Corp., announced its new dividend policy (all amounts expressed in US dollars), which includes a fixed quarterly dividend of $0.02 per share and a cash flow-–linked dividend targeted at approximately 30% of cash flows from Juanicipio during Q4, 2024, at a realized price of $20 per Oz Ag.  The inaugural dividend totals $0.18 per share, comprising $0.02 fixed and $0.16 linked to cash received in Q4 2024 (approximately 30% of the $53.85M cash received from Juanicipio during Q4 2024). Future dividends will be subject to the Board’s discretion and various financial factors, highlighting the company’s commitment to sharing success with shareholders.
  • Fortuna Mining Corp., announced that it will be present at Mining Forum Europe 2025, which will be held in Zurich, Switzerland from March 31 to April 2, 2025 (San Jose mine, Oaxaca).
  • Oroco Resources Corp., reported advancements in its Santo Tomas project in Sinaloa, following meetings in Mexico City with senior government officials, including Dr. Luis Rosendo Gutiérrez Romano, Undersecretary of the Mexican Economy, and other senior federal and state government officials. The discussions emphasized the project’s potential for responsible development and its contributions to the local economy in Sinaloa. Oroco holds an 85.5% interest in the core concessions of the project, with significant copper mineralization previously defined by extensive exploration. The project, supported by improved dialogue with the government, is positioned to benefit economically from its location near important infrastructure, including ports and railways. Oroco’s leadership is pleased with the governmental support and dialogue established during the meetings.
  • Fortuna Mining Corp., filed its fiscal 2024 annual report on Form 40-F with the U.S. Securities and Exchange Commission (SEC). The Form 40-F, which includes the Company’s fiscal 2024 annual audited financial statements, management’s discussion and analysis, and annual information form (San Jose mine, Oaxaca).
  • GoGold Resources Inc., announced results of its annual and special meeting of shareholders (Los Ricos North and Los Ricos South properties, Jalisco).
  • Equinox Gold Corp., reported that it will hold its annual and special meeting of shareholders on April 24, 2025 (Los Filos mine, Guerrero).

ON SOCIAL RESPONSIBILITY

  • No relevant news.

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

On the picture above, galena + sphalerite in a quartz vein from an intermediate sulphidation epithermal vein system in a project in Sonora, Mexico. Photo taken by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the First Week of November, 2024

/ gambusinoprospectormexico / Leave a comment

Onyx Vein

By Miguel A Heredia

During the 45th week of the year (November 4th to November 10th 2024), at least 29 press releases were announced by companies working in Mexico, and 2 news published by the media, with fourteen communicating production and financial results, ten disclosing deals and corporate issues, four announcing financing rounds, two commenting on Mexican issues, and one reporting resources and development of their properties.  ON MEXICO ISSUES, The Mexican Mining Chamber (Camimex) announced that it foresees a decline in mining investments in Mexico to USD $3.8 billion in 2025, which would imply its lowest level in the last nine years. ON EXPLORATION, no relevant news.  ON MINING, Aura Minerals reported Q3, 2024 production results and provided 2024 production guidance (Aranzazu mine, Zacatecas). Endeavour announced results from their Mexican operations for the three and nine months ended September 30, 2024. Alamos Gold reported Q3, 2024 production and financial results from its Mulatos Mining District, Sonora. Fortuna Mining announced Q3, 2024 financial results from its San Jose mine, Oaxaca. Pan America released Q3, 2024 production results from its La Colorada mine in Zacatecas-Durango, and from its Dolores mine in Chihuahua. Sierra Metals reported Q3, 2024 production results from its Bolivar mine, Chihuahua. Gold Resource announced Q3, 2024 production and financial results from its Don David Gold mine, Oaxaca. Torex reported Q3, 2024 production and financial results from its El Limon-Guajes Mine Complex, Guerrero. Gold Royalty announced Q3, 2024 operating and financial results (Cozamin mine, Zacatecas). Americas Gold and Silver released Q3, 2024 production results from its Cosala mine, Sinaloa. First Majestic announced Q3, 2024 production results from their Mexican operations. Equinox Gold reported Q3, 2024 consolidated production and financial results (Los Filos mine, Guerrero). Sandstorm Gold Royalty announced Q3, 2024 production and financial results (Mercedes mine, Sonora).  Altius Minerals reported Q3, 2024 attributable royalty revenue (Cuale project, Jalisco). ON FINANCING, Heliostar reported the closing of two previously announced debt facilities for aggregate gross proceeds of $10M (Ana Paula project, Guerrero).  Luca recommenced its principal repayments on its terms loan with Trafigura Mexico S.A.de C.V. (Tahuehueto mine, Durango).  ON RESOURCES AND DEVELOPMENT, Teck provided an update on its San Nicolas project in Zacatecas.  ON DEALS AND CORPORATE ISSUES, Aura Minerals approved an amendment to its dividend policy to declare and pay dividends on a quarterly basis (Aranzazu mine, Zacatecas). Chesapeake granted stock options to officers of the company (Metates project, Durango).  Hecla announced the appointments of its new President and CEO and its new Vice President and Chief Operating Officer (San Sebastian property, Durango). Silver Spruce reported results from its annual general meeting of shareholders (Pino de Plata project, Chihuahua). Vizsla Silver received firstly a conditional approval, which then turned into a final approval to graduate from the TSX Venture Exchange and list its common shares on the Toronto Stock Exchange (Panuco project, Sinaloa). Luca Mining announced the resignation of its VP Technical (Tahuehueto mine, Durango).  Florida Canyon communicated the completion of its previously announced sale of its Mexican Business Unit to Heliostar Metals.  Minaurum acquired a 100% interest in five-royalty free claims covering the core position of its Aurifero project in Sonora. Almadex Minerals announced on November 7, 2024, the acquisition of 14,174,056 common shares of Azucar Minerals Ltd (San Pedro project, Jalisco). ON SOCIAL RESPONSIBILITY,  no relevant news.

ON MEXICO ISSUE

  • The Mexican Mining Chamber (Camimex) announced that it foresees a decline in mining investments in Mexico to USD $3.8 billion in 2025, which would imply its lowest level in the last nine years. Pedro Rivero, president of Camimex, explained that the main factor in this trend is that no new mining concession has been granted since the beginning of the last federal government administration to date. Camimex also predicted that after receiving USD $543M in mining exploration in 2023, the expected arrivals in this area are estimated at USD $500M for 2024 and USD $400M for 2025.
  • An armed group in Zacatecas, stole six gondolas loaded with 240 tonnes of mineral concentrates that were towed by three trucks that had left the Peñasquito mine, dedicated to the extraction of gold and silver in the country. The mine located in Zacatecas, owned by the American transnational Newmont Corporation, is the largest gold mine in Mexico and the second in terms of silver production. The company, which operates in the municipality of Mazapil, in Zacatecas, explained that local and federal authorities deployed an operation in which they managed to recover part of the stolen goods; however, the National Guard explained that “apparently there were other tractor-trailers that were able to hook the remaining 6 gondolas and remove them from the area.” “The security forces deployed an intense operation on Saturday in the areas of the Peñasquito and Camino mines to try to locate the gondolas or the stolen material, but it was not completely located,” said the National Guard.

ON EXPLORATION

  • No relevant news.

ON MINING

  • Aura Minerals Inc., reported Q3, 2024 results and provided a 2024 production guidance. The company produced 24,486 Oz AuEq in Q3, 2024 from its Aranzazu mine in Zacatecas. It also provided 2024 production guidance and announced that it expects to produce between 94K-108K Oz AuEq at cash and AISC of USD $826-$1,109 and USD $1,089-$1,331 per Oz AuEq produce respectively.
  • Endeavour Silver Corp., Endeavour announced results from their Mexican operations for the three and nine months ended September 30, 2024 (all amounts are in US dollars). At Guanacevi, Durango, the company processed 67,094 tonnes in Q3, 2024, to produce 766.6K Oz Ag payable (995.15K Oz AgEq) at cash, AISC and total production costs of $19.59, $30.83, and $24.68 per Oz Ag respectively, while in the nine months ended September 30, 2024 it processed 294,995 tonnes to produce 3.29M Oz Ag payable (4.2M Oz AgEq) at cash, AISC, and total production costs of $17.24, $24.96, and $22 per Oz Ag respectively. At Bolañitos, Guanajuato, the company processed 107,971 tonnes in Q3, 2024, to produce 100.7K Oz Ag payable (622.8K Oz AgEq) at cash, AISC, and total production costs of ($51.38), ($14.98), and ($27.25) per Oz Ag respectively, while in the nine months ended September 30, 2024 it processed 320,853 tonnes to produce 330.6K Oz Ag payable (1.85M Oz AgEq) at cash, AISC,  and total production costs of ($30.97), $3.77 and ($6.34) per Oz Ag respectively. Consolidated results are shown in the table below:
  • Alamos Gold Inc., reported Q3, 2024 production and financial results from its Mulatos Mining District, Sonora (all amounts expressed in US dollars). The company produced 50,500 Oz Au at Mulatos Mining District, consisting of 12,600 Oz Au from residual leaching at Mulatos mine, and 37,900 Oz Au from La Yaqui Grande open pit after processing 978,139 tonnes of 1.36 g/t Au with a metallurgical recovery of 90%. Alamos Gold sold 48,793 Oz Au in Q3, 2024, with a cost of sales of $1,398 per Oz Au sold, and cash and AISC of $937 and $1,002 per Oz Au sold respectively. The company reported operating revenues of $122.8M; costs of sales of $68.2M; earnings from operations of $51.1M; cash provided by operating activities of $70M; mine-site free cash flow of $66.9M; and capital expenditures of $3.1M. Alamos also provided a 2024 production guidance and estimates to produce between 185K-195K Oz Au, at total cash and AISC of $$925-$975and $1,000-$1,050 per Oz Au respectively, with a total sustaining and growth capital of $5-10M; and total capital expenditures and capitalized expenditures of $14-$19M.
  • Fortuna Mining Corp., announced Q3, 2024 production results from its San Jose Mine, Oaxaca. The company processed 188,212 tonnes with 99 g/t Ag and 0.74 g/t Au with metallurgical recoveries of 86% and 85% respectively to produce 510.7K Oz Ag and 3,771 Oz Au. Fortuna sold 533.8K Oz Ag and 3,941 Oz Au at cash and AISC of USD $29.40 and USD $ 32.65 per Oz AgEq respectively at realized prices of USD $29.45 per Oz Au and USD $2,484 per Oz Ag.
  • Pan American Silver Corp., released Q3, 2024 production results from its La Colorada mine in Zacatecas-Durango, and from its Dolores mine in Chihuahua. At La Colorada mine, the company produced 1.3M Oz Ag and 0.9K Oz Au at cash and AISC of USD $19.59 and USD $22.25 per Oz Ag respectively. At Dolores mine, Chihuahua, it produced 442K Oz Ag and 18.4K Oz Au at cash and AISC of USD $1,296 and USD $1,262 per Oz Au respectively.
  • Sierra Metals Inc., reported Q3, 2024 production results from its Bolivar mine, Chihuahua (all amounts are expressed in USD dollars). It processed 401,731 tonnes to produce 9.67M Lb CuEq at cash and AISC of $2.42 and $3.23 per Lb CuEq respectively. Sierra Metals reported total cash cost of $16.88M; total cash cost of sales of $23.41M; and sustaining capital expenditures of $7.76M. The company also provided its 2024 production guidance and expects to produce between 23.0-27.6M Lb Cu, 650K-750K Oz Ag, and 8K-9.2K Oz Au at cash and AISC of $2.56-$2.72 and $3.29-$3.36 per Lb CuEq respectively.
  • Gold Resource Corporation announced Q3, 2024 production and financial results from its Don David Gold mine, Oaxaca. The company milled 83,690 tonnes of 0.54 g/t Au, 83 g/t Ag, 0.19% Cu, 1% Pb, and 2.6% Zn to produce and sold 1,357 Oz Au, 181.4K Oz Ag, 219.5K Lb Cu, 1.29M Lb Pb, and 3.9M Lb Zn (3,526 Oz AuEq), at average sale metal prices realized of $2,561/Oz Au, $30.61/Oz Ag, $8,832/tonne Cu,  $2,065/tonne Pb, and $2,854/tonne Zn. Total cash and AISC after co-product credits were $3,560 and $5,073 per Oz AuEq. Gold Resource also reported total sales of $13.27M; production costs of $17.2M; operating cash flows of ($ 3.37M), net loss of $10.5M or $0.11 per share; working capital of $6.1M; and cash balance of $1.4M as September 30, 2024.
  • Torex Gold Resources Inc., reported Q3, 2024 production and financial results from its El Limon-Guajes Mine Complex, Guerrero (all amounts expressed in US dollars). The company produced 119,412 Oz Au and sold 122,130 Oz Au at cash and AISC of $926 and $1,101 per Oz Au respectively at an average realized price of $2,313 per Oz Au, or 122,525 Oz AuEq produced and 125,414 Oz AuEq sold at cash and AISC of $969 and $1.139 per Oz AuEq respectively. The company reported revenue of $313.7M; cost of sales of $170.1M; earnings from mine operations of $143.6M; net income of $29.2M or $0.34 per both basic and diluted share; adjusted net earnings of $65.5M or $0.76 per basic share and $0.75 per diluted share; EBITDA of $155.3M; adjusted EBIDTA of $152.4M; net cash generated from operating activities of $149.5M; net cash generated from operating activities before changes in non-cash operating working capital of $137.6M; cash and cash equivalents of $114.5M; and available liquidity of $346.6M.
  • Gold Royalty Corp., announced Q3, 2024 operating and financial results.  The company owns 1% NSR royalty over the southeastern portion of the property at Cozamine mine, Zacatecas and reported that the Q3, 2024 production was 2% higher than the Q3, 2023 due to higher mill throughput driven by mine sequencing. Grades and recoveries were consistent with the same period last year.
  • Americas Gold and Silver Corporation released Q3, 2024 production results from its Cosala mine, Sinaloa (all amounts expressed in US dollars). The company produced 192K Oz Ag, 8.4M Lb Zn, and 2.6M Lb Pb at cash and AISC of $7.12 and $11.12 per Oz Ag respectively. Cash cost of sales reported by Americas Gold and Silver was $8.36M.
  • First Majestic Silver Corp., announced Q3, 2024 production and financial results from their Mexican operations (all amounts are in US dollars).  Figures of their three mines are shown in the table below:
  • Equinox Gold Corp., reported Q3, 2024 consolidated production and financial results. The company produced 173,983 Oz Au and sold 173,973 Oz Au at an average realized gold price of USD $2,461 per Oz and cash and AISC of USD $1,720 and USD $1,994 per Oz Au respectively (Los Filos mine, Guerrero).
  • Sandstorm Gold Royalties announced Q3, 2024 production and financial results and reported 17,359 attributable Oz AuEq (Mercedes mine, Sonora).
  • Altius Minerals Corporation reported Q3, 2024 attributable royalty revenue of USD $16.6M and adjusted earnings of USD $2.6M (Cuale project, Jalisco).

ON FINANCING

  • Heliostar Metals Ltd., reported the closing of two previously announced debt facilities for aggregate gross proceeds of $10M to support its acquisition of assets from Florida Canyon Gold Inc.  The Company expects to complete the acquisition on November 6, 2024 (Ana Paula project, Guerrero).
  • Luca Mining Corp., recommenced its principal repayments on its terms loan with Trafigura Mexico S.A.de C.V., and is on track to eliminate its term debt in 2026. Luca has outstanding loans with Trafigura totaling USD $18.1M. This total includes a non-interest-bearing convertible loan of USD $5.8M due in January 2027. The remaining USD $12.3M in term debt is scheduled for repayment by mid-2026, offering the company added financial flexibility (Tahuehueto mine, Durango).

ON RESOURCES AND DEVELOPMENT

  • Teck Resources Limited provided an update on its San Nicolas project in Zacatecas, which is in partnership with Agnico Eagle Mines Limited (Teck 50% / Agnico 50%). San Nicolas is a low capital cost, low-complexity copper-zinc project, with an estimated production of 63K tonnes per year (tpa) copper and 147 k tpa zinc over the first five years. Feasibility study and execution strategy progressing with potential sanction decision in H2 2025 (Teck estimated funding requirement USD $0.3-0.5 billion).

ON DEALS AND CORPORATE ISSUES

  • Aura Minerals Inc., approved an amendment to its dividend policy to declare and pay dividends on a quarterly basis. The company paid a dividend of USD $0.24 per common share (approximately USD $17.4M in total) based on Aura´s financial results for the three months ending September 30, 2024 (Aranzazu mine, Zacatecas).
  • Chesapeake Gold Corp., granted stock options to officers of the company to purchase an aggregate of 65,000 common shares of the company at an exercise price of CAD $1.80 per share for a five-year term expiring November 5, 2029 (Metates project, Durango).
  • Hecla Mining Company announced the appointments of its new President and CEO and its new Vice President and Chief Operating Officer, both effective November 7, 2024 (San Sebastian property, Durango).
  • Silver Spruce Resources Inc., reported results from its annual general meeting of shareholders (Pino de Plata project, Chihuahua).
  • Vizsla Silver Corp., received firstly a conditional approval, which then turned into a final approval to graduate from the TSX Venture Exchange (TSXV) and list its common shares on the Toronto Stock Exchange (TSX). Upon receipt of the final TSX approval, the common Shares will be delisted from the TSXV and commence trading on the TSX under the symbol “VZLA”. The common shares will continue to trade on the NYSE American under the symbol “VZLA” (Panuco project, Sinaloa).
  • Luca Mining Corp., announced the resignation of its VP Technical to pursue a new career opportunity (Tahuehueto mine, Durango).
  • Florida Canyon Gold Inc., communicated the completion of its previously announced sale of its interests in the San Agustin mine, Durango, El Castillo mine, Durango, La Colorada mine, Sonora, Cerro del Gallo project, Guanajuato, and San Antonio project, Baja California Sur to Heliostar Metals Ltd., for cash consideration of USD $5M and an additional USD $5M in cash generated from operating cash flow after July 16, 2024. As a result of the transaction, Florida Canyon no longer holds assets in Mexico, and Heliostar has assumed all responsibilities for the Mexican Business Unit, including reclamation.
  • Minaurum Gold Inc., acquired a 100% interest in five-royalty free claims covering the core position of its Aurifero project in Sonora, and also extended its option agreement to acquire the remaining claims by another three years. With these acquisitions, Minaurum now control over 95% of this high-grade gold district.
  • Almadex  Minerals Ltd., announced on November 7, 2024, the acquisition of 14,174,056 common shares of Azucar Minerals Ltd., for $0.015 per share, totaling approximately $ 212,610.84. The Acquisition was a private transaction and did not occur on a stock exchange or other securities market. This acquisition, conducted through a private agreement with Newcrest Canada Holdings Inc., increases Almadex’s ownership in Azucar to 29.87% of the outstanding shares. Prior to this transaction, Almadex and its associates held 7,881,529 shares, representing 10.68%. The acquisition was made under the “private agreement exemption” of NI 62-104 Take-Over Bids and Issuer Bids (San Pedro project, Jalisco).

ON SOCIAL RESPONSIBILITY

  • No relevant news.

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

On the picture above, onyx vein in a low sulphidation epithermal vein in a project in San Luis Potosi, Mexico. Photo taken by Miguel A Heredia.