#Chihuahua

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 Third Week of August 2023

/ Gambusino Prospector / Leave a comment

By Jorge Cirett                                            

During the 33rd week of the year (August 14th to August 20th, 2023), 18 companies working in Mexico posted news releases. Two companies informed on exploration work at its properties, three reported second quarter 2023 results and one more of a fatality on an underground mine. One company informed on a private placement and one more on incentive option granting to directors, employees and consultants. Four companies informed on technical reports, updated mineral resources, drilling results and metallurgical testing on their projects. The closing on the transfer of a property in Durango was announced. ON MEXICO ISSUES, Camimex ask for the government intervention to reach an end to the Peñasquito mine strike, which begun in early June, and also for speedier action on environmental permitting. ON EXPLORATION, in Sonora, Colibri Resource received the permit to drill at Evelyn. In Coahuila, Monumental Minerals updated on its drilling program at Jemi. ON MINING, Guanajuato Silver reported a fatality on one of its mines. Sierra Metals, Discovery Silver and Americas Gold and Silver released production results for Q2 2023. ON FINANCING, Barksdale granted options to directors, employees and consultants. Oroco Resource raised $1.75 M. ON RESOURCES AND DEVELOPMENT, Golden Tag updated the mineral resource estimate for La Parrilla, in Durango. GR Silver Mining released drilling results from the San Marcial deposit on its Plomosas project in Sinaloa. Sierra Madre Gold and Silver released drilling results from the Tepic project in Nayarit. Silver Tiger Metals released drilling results from El Tigre, in Sonora. Vizsla Silver announced positive metallurgical test results for the Copala resource area on its Panuco project in Sinaloa. ON DEALS AND CORPORATE ISSUES, First Majestic Silver and Golden Tag Resources closed the transaction on La Parrilla mine in Durango. ON SOCIAL RESPONSIBILITY, no relevant news. ON MEXICO ISSUES

  • Camimex (Cámara Minera de México) asks relevant authorities to contribute in the solution to the Peñasquito strike in Zacatecas, and to act more speedily on the granting of environmental permits needed.

ON EXPLORATION

  • Colibri Resource Corp. received the necessary permit to drill up to 2,000 m on the Evelyn property in Sonora. The program is focusing on the Main Zone and West El Sahuaro areas.
  • Monumental Minerals Corp. provided an update on the current drill program at the Jemi project in Coahuila. To date 1,800 m have been drilled targeting rare earth mineralization, with 12 holes completed and a final one underway, with results expected in about three weeks. “Numerous intrusive peralkaline dykes, sills, and veins, with identifiable eudialyte … were intersected in the completed holes … These peralkaline dykes and sills tend to occur in structural zones that appear to be adjacent to larger bodies of syenitic intrusions and are associated with irregular skarn mineralization at the contacts with the host carbonate sedimentary rocks. These zones are as much as several tens of meters in width downhole. The syenite may be the feeders for the peralkaline features (parental rocks) and pegmatitic intrusive rocks. Light rare earth element (LREE) bearing minerals such as monazite and xenotime have also been identified by visual inspection.”

ON MINING

  • Guanajuato Silver Co. reported an employee fatality on August 12 due to an accident at the San Ignacio mine in Guanajuato.
  • Sierra Metals Inc. reported results for the quarter, including figures from its Mexican operations. At Bolivar, in Chihuahua, 4,640 tonnes were milled per day for a total of 406 K tonnes in the period, to produce 10.7 M Lb CuEq at cash cost $1.62 and an AISC of $3.02 per Lb CuEq. The Cusi mine in Chihuahua (a non-core asset) operated at 596 tpd and processed 51.7 K tonnes during the period to produce 241 K Oz AgEq.
  • Americas Gold and Silver Corp. reported consolidated financial and operational results for the quarter ended June 30, 2023, including figures from its Mexican operations. At Cosalá, in Sinaloa, 335 K Oz Ag, 3.2 M Lb Pb, 9.6 M Lb Zn were produced at cash cost $4.51 and an AISC of $11.10 per Oz AgEq.
  • Discovery Silver Corp. announced its financial results for the second quarter 2023 and provided an update on the quarter and subsequent events. The 2022 Environmental, Social and Governance (ESG) report was released. A marketed public offering raised C$51.75 M, “Completion of the reserve expansion and definition component of our Feasibility Study program consisting of an additional 35,000 m of drilling in over 100 drill holes completed since the cut-off for the Pre-Feasibility Study”. As of June 30, 2023, Discovery had cash and cash equivalents of $68 M.

ON FINANCING

  • Barksdale Resources Inc. announced the granting of incentive stock options to its directors, employees and consultants for up 1.3 M shares at a price of $0.59 per share. (San Javier, Sonora).
  • Oroco Resource Corp. closed a non-brokered private placement, raising $1.75 M (Santo Tomás, Sinaloa).

ON RESOURCES AND DEVELOPMENT

  • Golden Tag Resources Ltd. completed an updated mineral resource estimate for La Parrilla Silver Mine Complex in Durango. The resource includes 22 veins within the Rosarios, San Marcos and Quebradillas underground mines, currently on care and maintenance. Indicated resources are estimated at 615 K tonnes @ 176 gpt Ag, 0.08 gpt Au, 1.55% Pb, 1.39% Zn (or 263 gpt AgEq), containing 3.48 M Oz Ag, 1,700 Oz Au, 9.6 K tonnes Pb, 8.5 tonnes Zn, or 5.19 M Oz AgEq. Inferred resources stand at 1.26 M tonnes @ 191 gpt Ag, 0.12 gpt Au, 0.99% Pb, 1.01% Zn (or 256 gpt AgEq), containing 7.73 M Oz Ag, 5,000 Oz Au, 12.4 K tonnes Pb, 12.7 K tonnes Zn, or 10.33 M Oz AgEq.
  • GRSilver Mining Ltd. announced results from one step-out drill hole outside the mineral resource boundary in the San Marcial area of its Plomosas project in Sinaloa. Highlighted core length intervals comprise 20.2 m @ 187 gpt Ag, 0.05 gpt Au, 0.3% Pb, 0.7% Zn (including 5.7 m @ 513 gpt Ag, 0.05 gpt Au, 0.4% Pb, 0.8% Zn, which includes 0.8 m @ 2,041 gpt Ag, 0.14 gpt Au, 0.8% Pb, 1.9% Zn). The hole “intersected a multistage quartz-calcite-sulfide zone composed of irregular veins and breccias crosscutting other hydrothermal breccias …”.
  • Sierra Madre Gold and Silver Ltd. announced results from six additional diamond drill holes of the current program at its Tepic project in Nayarit. The holes targeted the Taunas and Veta Tomas structures, with highlighted intercepts comprising 2.50 m @ 296 gpt Ag, 1.15 gpt Au; 0.60 m @ 111 gpt Ag, 2.06 gpt Au; 4.85 m @ 84 gpt Ag, 0.24 gpt Au; 10.05 m @ 158 gpt Ag, 0.46 gpt Au; 4.35 @ 258 gpt Ag, 0.68 gpt Au; 1.0 m @ 92 gpt Ag, 0.36 gpt Au. “The Tepic Project is a +2,600-hectare project where the previous operator completed 149 core holes totaling more than 31,000 meters. “
  • Silver Tiger Metals Inc. released results from drilling at El Tigre project in Sonora. Highlighted core length results from the Sooy vein and Sulfide Zone comprise 1.0 m @ 0.01 gpt Au, 178 gpt Ag, 0.22% Cu, 1.0% Pb, 1.7% Zn; 10.7 m @ 0.06 gpt Au, 74 gpt Ag, 0.08% Cu, 0.5% Pb, 0.5% Zn (including 2.3 m @ 0.06 gpt Au, 191 gpt Ag, 0.22% Cu, 1.4% Pb, 1.6% Zn); 4.7 m @ 0.15 gpt Au, 344 gpt Ag, 0.44% Cu, 0.6% Pb, 1.0% Zn; 0.5 m @ 0.26 gpt Au, 1,294 gpt Ag, 0.62% Cu, 3.8% Pb, 6.3% Zn; 3.4 m @ 1.57 gpt Au, 592 gpt Ag, 0.08% Cu, 0.4% Pb, 0.7% Zn; 10.5 m @ 1.98 gpt Au, 151 gpt Ag, 0.14% Cu, 1.4% Pb, 2.9% Zn (including 5.3 m @ 3.87 gpt Au, 249 gpt Ag, 0.22% Cu, 2.2% Pb, 4.4% Zn); 4.0 m @ 0.11 gpt Au, 786 gpt Ag, 0.68% Cu, 0.6% Pb, 1.3% Zn; 0.8 m @ 0.16 gpt Au, 1,549 gpt Ag, 1.73% Cu, 0.2% Pb, 0.7% Zn.
  • Vizsla Silver Corp. announced positive preliminary metallurgical test results for the Copala resource area at its Panuco project in Sinaloa. Drill core was first crushed and the subject to simple bulk flotation. Flotation + regrind + Cyanide Leach on flotation concentrate, coupled with Cyanide Leach of Rougher Tails recovered 90.6% Au, 93.7% Ag. “Further test work of material from the Napoleon, Tajitos and Copala deposits is planned to better understand and optimise grind size, cyanide consumption, leach kinetics, residence times and recoveries.”

ON DEALS AND CORPORATE ISSUES             

  • First Majestic Silver Corp. and Golden Tag Resources Ltd. closed the transaction on the La Parrilla past producing mine in Durango. First Majestic received 143.7 M shares of Golden Tag (US$20 M), and is to receive up to US$13.5 M in the form of three milestone payments either in cash or shares. The first repayment of US$2.7 M is due 18 months on the closing, the second US$7.75 M payment upon receipt of a resource estimate of 5 M Oz AgEq in reserves or 22 M Oz AgEq in measured and indicated resources and the third US$5.05 M payment upon receiving a resource estimate of 12.5 M Oz Ag Eq measured and indicated resources in a new zone on La Parrilla. In addition, First Majestic purchased 18 M shares of Golden Tag and 9 M warrants. Following the closing First Majestic owns 40.8% of Golden Tag shares, and if the warrants are exercised will own 42.2% on a partially diluted basis.

ON SOCIAL RESPONSIBILITY

  • No relevan news.

On the image below: Silicified vein ridge on a project in the Sonoran Desert. Picture by Jorge Cirett.