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ARGONAUT GOLD ANNOUNCES SECOND QUARTER 2018 OPERATING AND FINANCIAL RESULTS

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ArgonautGold_nr_20180809

Toronto, Ontario – (August 9, 2018) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce its financial and operating results for the second quarter ended June 30, 2018.  The Company reports a quarterly cash flow from operating activities before changes in operating working capital of $17.0 million, net income of $0.4 million or earnings per share of $0.00, adjusted net income[1] of $7.0 million or adjusted earnings per share1 of $0.04, net cash1 increase of $1.5 million and production of 38,441 gold equivalent ounces[2] (“GEO” or “GEOs”).  All dollar amounts are expressed in United States dollars, unless otherwise specified (C$ refers to Canadian dollars).

Highlights on the First Week of May, 2018. Mining and Exploration News in Mexico

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093 - copia

By Jorge Cirett

During the 18th week of the year (April 30th to May 6th, 2018), at least 21 press releases were announced by companies working in Mexico, with news on the exploration of eight properties, eight more companies releasing Q1 2018 results, and Primero Mining extending its revolving credit facility. ON MEXICO ISSUES, production statistics for the mining sector on February 2018 were published. ON EXPLORATION, In Sonora, Azure updated on exploration efforts at its Oposura, Alacrán and Sara Alicia projects; Alamos Gold presented exploration plans on the Mulatos district; San Marco Resources obtained the Suanse property by lottery. In Coahuila, Discovery Metals disclosed underground channel sample results from its Puerto Rico property; Silver Bull acquired a 60 ha claim within its large land package in Sierra Mojada. In Veracruz, Mexican Gold released channel sampling results from the Changaro zone at its Las Minas project. ON MINING, Argonaut Gold, Santacruz Silver, Gold Resource, Alamos Gold, Golden Minerals, Leagold, Great Panther and Telson Mining presented Q1 2018 production reports. ON FINANCING, Primero Mining agreed on the extension of its revolving credit facility. ON RESOURCES AND DEVELOPMENT, Golden Minerals released drill results from its Santa Maria property in Chihuahua. Argonaut updated on exploration in properties in Guanajuato and Baja. Minera Alamos announced drilling plans on the now combined Santana/Los Verdes properties.  ON DEALS AND CORPORATE ISSUES, Endeavour Silver released its annual review and sustainability report. Advance Gold contracted a third party to assist with investors relations.

ON MEXICO ISSUES

  • The mining and metallurgic production in Mexico grew 4% in February, which is the best result since April 2016, although in a yearly basis a 1.3% decrement was recorded. During February, the production of lead (-34.6%), sulphur (-12.2%), silver (-11.3%), copper (-8.2%) and coke (-5.7%) decreased, while that of iron pellets (1.1%), fluorite (1.7%) zinc (4.6%), gold (5.8%), coal (18.8%) and gypsum (19.2%) showed an increment. Sonora was the leader in gold production during February, with 3,710 Kg (119,720 Oz), while Zacatecas  kept the title in silver with 171,903 Kg (5,526,806 Oz).

ON EXPLORATION

  • Azure Minerals Ltd. completed the mineral resource drill-out of the Oposura project, in Sonora. The program included 157 holes totaling 10,112 m (assays for 27 holes still awaited), confirming good height (width) and grade continuity of the horizontal mineralization. Metallurgical studies show 85.6% Zn and 84.0% Pb recoveries. The initial mineral resource estimate is expected in June 2018.
  • Azure Minerals Ltd. completed the stage 2 drilling program at its Sara Alicia Au-Co project in Sonora. Results awaited.
  • Azure Minerals Ltd. informed the operator of its Alacrán project in Sonora, Minera Teck, S.A., completed an 11 hole drill program in December 2017, with final results awaited. Teck has informed it will continue with the year 2 work program “comprising further geological, geochemical and geophysical surveys in the first half of 2018, which will be followed by more drilling in the second half of the year”.
  • Discovery Metals Corp. disclosed assay results from continuous underground channel sampling at its Puerto Rico project in Coahuila. Results on 100 samples out of 600 samples collected on the Zaragoza mine have been received. Select significant channel samples include: 2.1 m @ 822 g/t Ag, 2.1% Zn, 2.5% Pb, 0.7% Cu; 1.8 m @ 55 g/t Ag, 27.9% Zn, 2.9% Pb, 0.1% Cu; 3.3 m @ 175 g/t Ag, 2.1% Zn, 15.2% Pb, 0.2% Cu; 2.3 m @ 62 g/t Ag, 9.2% Zn, 6.5% Pb, 0.1% Cu; 1.3 m @ 75 g/t Ag, 16.8% Zn, 3.2% Pb, 0.1% Cu. Average manto grades 157 g/t Ag, 6.2% Zn, 5.5% Pb, 0.1% Cu.
  • Mexican Gold Corp. released channel sampling results from the La Perdida mine in the Changaro zone at its Las Minas project in Veracruz. At La Perdida adit, four 2.0 m samples returned 7.85 g/t Au, 3 g/t Ag, 0.14% Cu; 0.30 g/t Au, 1 g/t Ag, 0.05% Cu; 16.70 g/t Au, 12 g/t Ag, 0.49% Cu; 27.30 g/t Au, 12 g/t Ag, 0.17% Cu, averaging 8.0 m @ 13.04 g/t Au, 7 g/t Ag, 0.21% Cu.
  • Alamos Gold Inc. informed exploration in its 28,777 ha land package at Mulatos, Sonora, is to focus in 2018 outside the Mulatos mine, including the El Carricito, El Halcon, and El Jaspe areas. During the first quarter Alamos invested $4.5 M in exploration activities within the Mulatos district, including 14,792 m of diamond drilling and 1,059 m of RC drilling.
  • Silver Bull Resources Inc. acquired a 68 ha mineral license nine kilometers NW from its main Sierra Mojada deposit in Coahuila. The application “covers 13 historical mine shafts in the Palomas Negros area including a 120 meter long x 25 meter wide x 25 meter deep historical open pit”. Select sampling on the open pit returned up to 542 g/t Ag, 36.5% Zn, 9.3% Pb, 0.14% Cu on 2 m channel sampling.
  • San Marco Resources Inc. obtained the Suanse property in Sonora through the recent mineral concession lottery by the Mexican government. The property is located between two mineral concessions within Evrim’s LLano del Nogal porphyry copper moly play.

ON MINING

  • Argonaut Gold Inc. presented first quarter 2018 operating and financial results. At El Castillo in Durango, 4.72 M tonnes of waste were moved, 1.62 M tonnes of ore were mined (52 K tonnes per day, or tpd) @ 0.44 g/t Au, producing 8,657 Oz Au, 7,528 Oz Ag. At San Agustin in Durango, 356 K tonnes of waste were moved 1.72 M tonnes of ore mined (23 K tpd) @ 0.50 g/t Au, producing 15,824 Oz Au, 80,331 Oz Ag. Cash cost was $1,020 for El Castillo and $365 for San Agustín. At La Colorada in Sonora, 6.13 M tonnes of waste were moved, 1.1 tonnes of ore mined (80 K tpd) @ 0.43 g/t Au, producing 14,291 Oz Au, 57,767 Oz Ag at cash cost $726. Cash and cash equivalents of $21.3 M at the end of the period.
  • Santacruz Silver Mining Ltd. reported financial and operating results for Q4 2018. During the period 181 K tonnes were processed, producing 865.5 K Oz AgEq at cash cost $23.07 and AISC $27.56 per AgEq Oz.
  • Gold Resource Corp. reported first quarter 2018 production results. During the period the company produced from three different orebodies on its El Aguila property in Oaxaca. At Arista 130.8 K tonnes were milled @ 1.92 g/t Au, 106 g/t Ag, 0.39% Cu, 1.63% Pb, 4.41% Zn, with recoveries of 78% Au, 91% Ag, 75% Cu, 76% Pb, 83% Zn. At the El Aguila open pit, 5.1 K tonnes were milled @ 2.16 g/t Au, 45 g/t Ag, and recoveries of 84% Ag, 86% Ag. At Altagracia 3.2 k tonnes were milled @ 1.16 g/t Au, 182 g/t Ag, and recoveries of 60% Au, 82% Ag. Production amounted to 6,647 Oz Au, 425.9 K Oz Ag, 385 tonnes Cu, 1,615 tonnes Pb, 4,793 tonnes Zn. Cash cost was ($316) per AuEq Oz after by-product credits, and AISC $347 per precious metal gold equivalent ounce sold. Cash and cash equivalents at quarter end totaled $28.6 M.
  • Alamos Gold Inc. reported its financial results for the first quarter 2018, including figures from its Mexican operations. At Mulatos in Sonora, 2.2 M tonnes were mined and 2 M tonnes of waste moved. Average grade of 1.75 M tonnes stacked was 0.84 g/t Au. As for high grade, 30.4 k tonnes were milled @ 8.11 g/t Au, for the production of 46,000 Oz Au at cash cost $786 per OZ Au, and AISC $842 per Oz Au. At El Chanate in Sonora, 1 M tonnes of ore were mined @ 0.60 g/t Au, with recoveries of 71% Au, to produce 13,800 Oz Au.
  • Golden Minerals Co. provided business and financial results for the first quarter 2018. During the period Golden received $1 M from Electrum Global Holdings, LP. in exchange for an amendment to the Electrum farm-out agreement providing Electrum an additional 20% interest in the Celaya project. Also 4,800 m in 22 holes were drilled on the Santa Maria property in Chihuahua. Cash and cash equivalents of $2.7 M at the end of the period.
  • Leagold Mining Corp. reported Q1 2018 production. During the period 7.7 M tonnes were moved on the open pit at Los Filos, Guerrero, of which 2.0 M tonnes were from ore @ 0.57 g/t Au. From underground 101 k tonnes were mined @ 5.47 g/t Au. In total 1.6 M tonnes were processed @ 0.97 g/t Au to produce 51,003 Oz Au at cash cost $880 per Au Oz and AISC of 1,039 per Au Oz. Test mining at the Bermejal underground deposit is to begin in Q2 2018. Leagold’s goal is to raise quarterly production from 50 K to almost 70 K by the end of the year.
  • Great Panther Silver Ltd. presented first quarter 2018 financial results, including figures from its operations in Mexico (Topia, Durango; Guanajuato mine complex, Guanajuato). Consolidated production came from 96.9 K tonnes milled, to obtain 491 K Oz Ag, 5,831 Oz Au at cash cost $12.76 per AgEq Oz and AISC $16.16 per AgEq Oz. For 2018 14,000 m of underground drilling are planned at the Guanajuato mines, and 5,000 m of surface drilling and 5,000 of underground drilling in the San Ignacio mine (part of the mine complex). Cash and cash equivalents were $60.9 M at the end of the period.
  • Telson Mining Corp. informed on first quarter 2018 pre-production toll milling at its Tahuehueto property in Durango. During the period 9,503 tonnes of ore were milled @ 5.44 g/t Au, 62 g/t Ag, 4.5% Zn, 2.2% Pb, recovering 79.4% Au, 85.7% Pb, 84.4% Pb, 76.4% Zn to produce 360 tonnes of lead concentrate (50.2% Pb), 99.25 g/t Au, 1,185 g/t Ag, 12.2% Zn) and 713 tonnes of zinc concentrate (46.3% Zn, 7.41 g/t Au, 105 g/t Ag, 0.93% Pb).

ON FINANCING

  • Primero Mining Corp. agreed to the extension of its revolving credit facility and the related guarantee provided by Wheaton Precious Metals Corp., to May 15th, 2018 or the closing of the business combination with First Majestic Silver Corp. (San Dimas, Durango).

ON RESOURCES AND DEVELOPMENT

  • Golden Minerals Co. released results from the 2,400 m, 22-hole drilling program at its Santa Maria property in Chihuahua. Some of the highlighted true width (TW) results comprise: 0.6 m @ 593 g/t Ag, 0.79 g/t Au, 0.4% Pb+Zn; 0.8 m @ 183 g/t Ag, 0.33 g/t Au, 0.1% Pb+Zn; 2.5 m @ 415 g/t Ag, 0.29 g/t Au, 1.5% Pb+Zn; 3.8 m @ 213 g/t Ag, 0.47 g/t Au, 0.8% Pb+Zn; 1.2 m @ 200 g/t Ag, 0.22 g/t Au, 0.15% Pb+Zn; 3.5 m @ 310 g/t Ag, 0.77 g/t Au, 1.3% Pb+Zn; 1.3 m @ 1,322 g/t Ag, 2.06 g/t Au, 1.4% Pb+Zn; 0.9 m @ 148 g/t Ag, 2.0 g/t Au, 1.5% Pb+Zn; 6.5 m @ 1,094 g/t Ag, 3.64 g/t Au, 1.3% Pb+Zn. The mineralization comprised oxide, mixed and sulfide materials in different intersects.
  • Argonaut Gold Inc. informed the re-logging of drill core and the development of a geological model at Cerro del Gallo, in Guanajuato. On its San Antonio project in Baja California Sur, technical sessions were held with the Mexican Environmental Authority DGIRA in preparation of new future Environmental Assessment application submittal.
  • Minera Alamos Inc. released its plans for a drilling campaign at the now combined Santana/Los Verdes property in Sonora. The phase one is to include 20 holes in 3,000 m of drilling, focusing on the Nicho extensions and Nicho Norte, into the contiguous Los Verdes claims. Previous drilling at the Santana project outlined significant mineralization associated to hydrothermal breccias hosted by stocks and batholithic intrusions. Heap leaching tests are being conducted on the Nicho Norte zone.

ON DEALS AND CORPORATE ISSUES

  • Endeavour Silver Corp. released its annual review and sustainability report. Sections of the report include: Safety and Health, Our People, Community, Environment, Economic. In words of its CEO, Bradford Cooke: “..is intended to show that sustainability relies on the connectedness between people, communities and the environment” (La Colorada, Sonora, El Castillo, Durango).
  • Advance Gold Corp. engaged Nicosia Capital to assist on Investor Relations. “Advance will pay Nicosia a fee of $3,500 per month and issue 100,000 stock options at a price of $0.12 per share. The initial agreement with Nicosia has a term of two months to commence May.1st, 2018” (Tabasqueña, Zacatecas).

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, Very strong silicification and minor silicification on structures from a shallow epithermal system in Guanajuato. Picture by Jorge Cirett.

Camrova Resources Reports MMB Ownership Dilution

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Camrova Resources Reports MMB Ownership Dilution

VANCOUVER, British Columbia, Nov. 23, 2017 (GLOBE NEWSWIRE) — Camrova Resources Inc. (“Camrova” or the “Company”) (TSX-V:CAV) (OTC:BAJFF) announces that its ownership in Minera y Metalurgica del Boleo S.A. P.I de C.V (“MMB”) is being diluted pursuant to the New Shareholders’ Agreement described in the Company’s News Release #2 / 2017 dated 2017-01-26.

As at June 30, 2017 MMB had issued cash calls amounting to $429.0 million. These cash calls were funded by way of shareholders loans. The Company did not contribute any amount to these cash calls and Korea Resource Corporation (“KORES”) funded the Company’s pro rata portion (10% or $42.9 million).  In accordance with the New Shareholders’ Agreement, KORES now has elected to convert the entire amount it contributed on behalf of the Company to equity in MMB thereby reducing the Company’s interest in MMB from 10% to 7.3%.

ARGONAUT GOLD ANNOUNCES RELEASE DATE FOR THIRD QUARTER 2017 OPERATIONAL AND FINANCIAL RESULTS

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http://www.argonautgold.com/news_events/news/news_release/index.php?&content_id=355

Toronto, Ontario – (October 12, 2017) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) plans to release its third quarter 2017 operating results, financial statements and the related management’s discussion and analysis after market close on November 2, 2017.  The Company will host a conference call and webcast to discuss its third quarter operating and financial results at 8:30 am EDT on November 3, 2017.

ARGONAUT GOLD ANNOUNCES FIRST GOLD POUR AT SAN AGUSTIN

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http://www.argonautgold.com/news_events/news/news_release/index.php?&content_id=353

Toronto, Ontario – (September 19, 2017) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce that, as scheduled, it has achieved its first gold pour from its San Agustin project in Durango, Mexico.

Pete Dougherty, President & CEO stated: “Since breaking ground on construction at San Agustin 10 months ago, I’m pleased to announce we maintained schedule to first gold pour.  Also of great importance to the Company is the attention to safety, as we have had zero lost time incidents at San Agustin throughout the project’s construction.”

ARGONAUT GOLD ANNOUNCES SECOND QUARTER 2017 OPERATING AND FINANCIAL RESULTS; NARROWS RANGE OF PRODUCTION GUIDANCE TO UPPER END PRODUCTION OF 29,730 GOLD EQUIVALENT OUNCES AND EARNINGS PER SHARE OF $0.04

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http://www.argonautgold.com/news_events/news/news_release/index.php?content_id=351

Toronto, Ontario – (August 10, 2017) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce its financial and operating results for the second quarter ended June 30, 2017.  The Company reports quarterly net income of $6.2 million or earnings per share of $0.04, the sale of 33,747 gold equivalent ounces1 (“GEO” or “GEOs”) and production of 29,730 GEOs.  All dollar amounts are expressed in United States dollars, unless otherwise specified (C$ refers to Canadian dollars).

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

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During the 2nd week of the year (9th to 15th January, 2017) at least 31 press releases were announced by companies working in Mexico, including ten preliminary production reports for 2016. ON EXPLORATION, nine companies presented exploration updates, reflecting fairly strong activity in this new year. A company completed soil surveys in a project in Sinaloa, and another in Sonora. Also in Sonora, a project generator presented 2016 results and presented plans for the year, while a mining company released high grade gold drilling results on its brownfield and mine site exploration. In Zacatecas, results from surface exploration were received in one project, while another property received the needed drilling permit. On Nayarit, three more holes have been completed in a property. Anomalous but still interesting drilling results were received for a project in Guerrero. In Chihuahua, results from underground channel sampling in a silver project were released, whereas in Oaxaca, a polymetallic vein system continues to expand, showing high grade drill intercepts on a 200 m step out. ON MINING, Torex Gold, US Antimony, Endeavour Silver, HECLA Mining, Great Panther, Fortuna Silver, Timmins Gold, Capstone, Premier Gold, Pan American Silver, and Gold Resource presented 2016 production figures. A company presented the 2016 production figures, and plans for the coming years in a copper mine in Baja California Sur.  ON FINANCING, Two companies reported financing exercises for a total of $16.4 M in gross proceeds. ON RESOURCES, one company filed NI-43-101 reports for two projects in Sonora and Nayarit. ON DEALS AND CORPORATE ISSUES, an agreement on the sale of one of the major gold operations in Mexico has been completed. An agreement on the option of a past producing mine in Guanajuato was achieved between a junior Canadian company and a local Mexican enterprise. A company with projects in Sonora remains in operations suspension on the TSX.

ON EXPLORATION

  • Silver One Resources Inc. has completed soil geochemical surveys over its La Frazada property in Sinaloa and at Peñasco Quemado in Sonora. Results are pending.
  • Arian Silver Corp. released high grade results from its surface sampling program at its San Celso property in Zacatecas. Results include 1.05 m @ 396 g/t Ag, 1.8 m @ 146 g/t Ag, 1.1 m @ 116 g/t Ag, 2.2 m @ 286 g/t Ag, 0.5 m @ 350 g/t Ag, 0.45 m @ 347 g/t Ag and 1.15 m @ 254 g/t Ag.
  • Gainey Capital Corp. announced that two of three holes to be drilled on the La Higuerita mineralized zone at its El Colomo property in Nayarit have been completed and samples shipped for assay. Four more holes are to be drilled between the Higuerita and Nueva Victoria zones, which are 250 m apart.
  • Defiance Silver Corp. has received the necessary permits for drilling up to 60,000 m on its San Acacio property in Zacatecas. The permit is valid for 4.5 years. Defiance will now finalize its program for the 1.2 km of vein strike length that hosts the San Acacio deposit, and eventually explore the 4.4 km of the vein that has yet to see modern exploration.
  • Minaurum Gold Inc. released results from its 4,200 m program in its Biricu property in the Guerrero Gold Belt. Four of the nine holes intercepted anomalous gold values, including 17 m @ 230 ppb Au and 117.8 m @ 191 ppb Au. Surface mapping and drilling indicates the favorable contact between the Mezcala and Morelos Formations is shallower further north in the Punto Rojo area.
  • Premier Gold Mines Ltd. released 2016 exploration results from several areas at its Mercedes mine in Sonora, where 27,442 m of drilling were completed in 135 core holes during the period. At the Mercedes/Barrancas/Lagunas area drill intercepts include 8.2 m @ 11.9 g/t Au, 81 g/t Ag; 0.9 m @ 7.3 g/t Au, 260 g/t Ag. At Diluvio drill intercepts include 12.5 m @ 16.0 g/t Au, 13 g/t Ag; 4.5 m @ 29.2 g/t Au, 49 g/t Ag; 21.0 m @ 3.2 g/t Au, 21 g/t Ag; 4.5 m @ 9.5 g/t Au, 20 g/t Ag; 25 m @ 3.1 g/t Au, 7 g/t Ag; 26 m @ 3.0 g/t Au, 9 g/t Ag; 13.5 m @ 17.2 g/t Au, 33 g/t Ag; 61.6 m @ 3.7 g/t Au, 11 g/t Ag. “Mineralization at Diluvio is distinct from other Mercedes deposits in that it consists of two or more gently-dipping “Manto” type ore bodies that could be amenable to bulk underground mining or higher grade narrow vein mining.” At Rey de Oro target (open pit and underground target) intercepts include 13.7 m @ 3.7 g/t Au, 21 g/t Ag; 10 m @ 1.9 g/t Au, 36 g/t Ag; 17.6 m @ 1.4 g/t Au, 49 g/t Ag; 21.7 m @ 3.7 g/t Au, 23 g/t Ag; 13.9 m @ 9.9 g/t Au, 122 g/t Ag; 4.6 m @ 68.4 g/t Au, 72 g/t Ag.
  • Kootenay Silver Inc. released results from underground adit channel sampling at its La Cigarra property in Chihuahua. 17.5 m @ 130 g/t Ag, 0.13 g/t Au (includes 2.0 m @ 536 g/t Ag, 1.0 m @ 569 g/t Ag); 5.5 m @ 173 g/t Ag, 0.15 g/t Au; 12.0 m @ 49 g/t Ag, 0.11 g/t Au; 6.0 m @ 28 g/t Ag, 0.18 g/t Au. These results will aid in the definition of new targets on the deposit.
  • Gold Resource Corp. announced a significant expansion of its Switchback vein system, with a greater than 200 m step-out drill interception at the Aguila’s project Arista mine. At least 6 vein were cut, with intercepts like: 4.05 m @ 1.25 g/t Au, 117 g/t Ag, 1.0% Cu, 2.1% Pb; 12.9% Zn; 1.10 m @ 2.36 g/t Au, 566 g/t Ag, 0.55% Cu, 0.7% Pb, 1.2% Zn; 3.28 m @ 0.87 g/t Au, 257 g/t Ag, 0.18% Cu, 0.3% Pb, 0.5% Zn. The discovery outcrop of the Switchback system is evident in a ridge approximately 300 m further on strike to the NW from this intercept.
  • Millrock Resources Inc. presented 2016 results and plans for 2017. During 2016 signed an option agreement with Centerra Gold Inc. on Los Chinos and Los Cuarenta projects in Sonora, drilling at Los Chinos and completing surface exploration at Los Cuarenta. For 2017 Millrock and Centerra signed a 250 K alliance agreement for exploration in Sonora; drilling of the Los Cuarenta project is planned for the spring.

ON MINING

  • Torex Gold Resources Inc. poured 279,937 Oz Au during its first year of operations at its El Limon-Guajes mine in Guerrero. The company plans to sell 350 – 380 K Oz Au during 2017, at cash cost $525 – $575 and AISC $775 – $825 per Au Oz sold. The exploration budget for 2017 is $10 M.
  • US Antimony Corp. has started mining in its Mexican antimony and gold and silver properties, aiming to produce 50 K Lb Sb during January. During 2016 the company produced 277.8 K Lb of direct shipping ore @ 35.9% Sb at its Wadley mine in San Luis Potosi; at Soyatal, Queretaro, 155.3 K Lb of mill concentrate @ 24.6% Sb were produced, whereas at Los Juarez in Queretaro, the company is awaiting the permit on the cyanide leach plant. The flotation mill is to start the process of a 19 K ton stockpile of Los Juarez ore to test recovery rates.
  • Endeavour Silver Corp. reported 2016 production of 5.4 M Oz Ag and 57,375 Oz Au, or 9.7 M Oz Ag/Eq. At Guanaceví in Durango, 367.4 K tonnes were processed (1,007 tonnes per day) at a grade of 232 g/t Ag, 0.51 g/t Au (recoveries of 86.3% Ag, 88.4% Au) to produce 2.36 M Oz Ag and 5,328 Oz Au. At Bolañitos in Jalisco 507.7 K tonnes were processed (1,391 tonnes per day) at a grade of 81 g/t Ag, 2.31 g/t Au (recoveries of 79.6% Ag, 81.5% Au) to produce 1 M Oz Ag and 30,720 Oz Au. At El Cubo 583.8 K tonnes were treated (1,599 tonnes per day) at a grade of 123 g/t Ag, 1.41 g/t Au (recoveries of 87.4% Ag, 80.6% Au) to produce 2 M Oz Ag, 21,327 Oz Au. Over 16.km of mine development were carried out on the three mining units, and more than 34,000 trees were planted, receiving the annual “Socially Responsible Company Award” on the three units.
  • HECLA Mining Co. produced 17.2 M Oz Ag (48% increase) and 233,929 Oz Au (24% increase) during 2016 in its operations in several countries. At San Sebastian in Durango, 4.3 M Oz Ag and 34,042 Oz Au were produced.
  • Great Panther Silver Ltd. produced 2 M Oz Ag and 22,238 Oz Au during 2016. At the Guanajuato Mine Complex 320.9 K tonnes were milled @ 163 g/t Ag, 2.43 g/t Au (recoveries of 87.9% Ag, 86.4% Au) to produce 1.47 M Oz Ag and 21,626 Oz Au. At the Topia mine in Durango 55.8 K tonnes were milled @ 354 g/t Ag, 0.56 g/t Au (recoveries of 90.4% Ag, 60.6% Au) to produce 574 K Oz Ag, 612 Oz Au, 1,034 tonnes Pb and 1,496 tonnes Zn.
  • Fortuna Silver Mines Inc. reported 2016 production, which includes numbers from its San Jose mine in Oaxaca, where 905.4 K tonnes were milled (2,596 tonnes per day) at a grade of 228 g/t Ag, 1.72 g/t Au (recoveries of 92.3% Ag, 92.1% Au) to produce 6.1 M Oz Ag and 46,018 Oz Au. That production was reached at AISC $8.4 per silver ounce. Major capital investments for 2017 include $6.5 M for mine development, $2.2 M for equipment and infrastructure, $6.5 M tailings on a filtration plant expansion and $7 M for brownfield exploration (31,00 m of drilling, 600 m of underground development for drilling).
  • Capstone Mining Corp. announced production results for 2016, which include figures on its Cozamin mine in Zacatecas, where 1 M tonnes of ore were milled (2,736 tonnes per day) at a grade of 1.51% Cu, 0.66% Zn, 0.07% Pb, 43 g/t Ag (recoveries of 94.8% Cu, 63% Zn, 18.7% Pb, 72.4% Ag) to produce 53,744 tonnes of copper concentrate (26.6% Cu, 566 g/t Ag), 8,866 tonnes of zinc concentrate (47.3% Zn) and 222 tonnes of Pb concentrate (58.4% Pb, 3,155 g/t Ag). During the period 13,956 tonnes of payable copper were shipped.
  • Timmins Gold Corp. reported production results for 2016. At San Francisco, in Sonora, during the period 7.65 M tonnes of ore grading 0.58 g/t Au were processed, 3.96 M tonnes of low grade ore @ 0.24 g/t Au were stockpiled and 14.9 tonnes of waste moved (2.00 strip ratio) to accomplish the production of 100,322 Oz Au and 56,325 Oz Ag. Ore was processed at an average daily rate of 20,909 tonnes per day. Guidance for 2017 is between 70 K and 75 K Oz Au at cash costs of US$900 to US$950 per gold ounce. Mining operations at San Francisco are expected to continue to 2023 producing 450 K to 500 K Oz Au. At Ana Paula, in Guerrero, the feasibility study test work is advancing, with the 20,000 m drilling nearing completion. The feasibility study should be complete by mid-2017, and construction permits received before the end of the year.
  • Premier Gold Mines Ltd. produced 22,760 Oz Au in 2016 on its Mercedes mine in Sonora. Forecast for 2017 is the production of 85 K – 90 K Oz Au, at cash cost $680 – $710 per Au Oz and AISC $810 – $840 per Au Oz. Mercedes exploration budget for 2017 is $4.7 M, including some 20,000 m of drilling; The planned expansion and mine development is budgeted at $7.9 M.
  • Pan American Silver Corp. reported its operational results for 2016. The company produced 5.8 M Oz Ag, 2,930 Oz Au at La Colorada, Zacatecas, at cash cost $6.15; at Dolores, Chihuahua, produced 3.84 M Oz Ag, 102,760 Oz Au, at cash cost -$1.08 and 1.86 M Oz Ag, 8,380 Oz Au at Alamo Dorado, Sonora, at cash cost $16.02. The La Colorada mine is expected to mine 1,500 tonnes per day in 2017, to produce 6.4 to 6.9 M Oz Ag; the new underground mine at Dolores is to extract 1,500 tonnes per day by the end of 2017, with total production of 4.0 to 4.5 M Oz Ag and 109,100 to 115,000 Oz Au, whereas the Alamo Dorado mine in Sonora will cease processing stockpiled inventory during the first quarter 2017, and enter the reclamation phase. The company is to spend $21 M on near-site and regional exploration in the countries it operates, with a 110,000 meters drill program. The company plans regional exploration in Mexico and Peru.
  • Gold Resource Corp. announced preliminary 2016 production. The company produced at its El Aguila mine in Oaxaca 27,629 Oz Au, 1.86 M Oz Ag, 1,035 tonnes of copper, 4,049 tonnes of lead and 14,302 tonnes of zinc during the period.
  • Camrova Resources Inc. informed that the Boleo mine in Baja California Sur produced 14,284 tonnes of copper cathode, double from 2015, but short of the targeted 22,574 tonnes for 2016, due to a variety of factors (union action, a hurricane, lower grade feed etc.). Production for 2017 is aimed to double that of 2016. The mine plans to produce 2.0 M tonnes of ore from surface and 0.7 M tonnes from underground operations, to average 1.24% Cu, with recoveries of 84% Cu. Surface operations strip ratio is expected to exceed 8:1, to mine 1.16% Cu open pit ore. The 2017 budget is still 130 M short of funding. The life of mine plan extends to 2031, with average mine production of 3.2 M tonnes of ore (1.9 M tonnes surface, 1.2 M tonnes underground), for a total of 45.9 M tonnes @ 1.3% Cu, 0.07% Co, 0.5% Zn.

ON FINANCING

  • Mx Gold Corp. announced its intention to undertake a private placement to raise up to $2.6 M gross proceeds (Magistral del Oro, Chihuahua).
  • Timmmins Gold Corp. issued 36,400,000 units additionally and pursuant to the company’s short form prospectus dated November 28, 2016, for total net proceeds amounting $13.8 M (San Francisco mine in Sonora, Ana Paula project in Guerrero).

ON RESOURCES

  • Silver One Resources Inc. filed two NI-43-101 technical reports on the La Frazada and Peñasco Quemado silver properties in Nayarit and Sonora respectively. Both properties had resource estimates by the previous owner, Silvermex Resources Ltd. At La Frazada there is a Measured and Indicated resource of 4.7 M Oz Ag, 42.4 M Lb Pb+Zn and an Inferred resource of 3.8 M Oz Ag, 41 M Lb Pb+Zn. At Peñasco Quemado there is a Measured and Indicated resource of 9.6 M Oz Ag.

ON DEALS AND CORPORATE ISSUES

  • VanGold Resources Ltd. entered into an agreement with Exploraciones Mineras del Bajio, SA de CV to acquire a 100% interest on El Pingüico property in Guanajuato. Vangold will pay US$20 K on execution, US$30 K on receipt of TSX approval, issue 5 M common shares and make a final payment of US$50 K six months from TSX approval. A 4% NSR and 15% NPI is to be paid on stockpile minerals, and 3% NSR (1% can be purchased back for US$1 M) and 5% NPI on mined mineralization. The 71 has. Property includes the old Pinguico mine with a NON-43-101 compliant estimate of 320 K tonnes @ 1.16 g/t Au on an underground stockpile.
  • Goldcorp Inc. entered into a share purchase agreement with Leagold Mining Corp. to sell its Los Filos mine in Guerrero. Goldcorp will receive $438 M, consisting of $279 M in cash, $71 M in Leagold common shares and certain tax receivables of $88 M. At the close of the transaction Goldcorp will own 30% of Leagold shares.
  • Colibri Resource Corp. announced that its shares remain halted at the TSX, pending reception and review of documentation regarding the acquisition of Canadian Gold Resources.

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, makeshift tauna remains south of La Rumorosa, Baja California.

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