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The Mining and Exploration News in Mexico: Highlights on the First Week of November, 2025

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Quartz Vein hosted in volcanic rocks

By Miguel A Heredia

During the 45th week of the year (November 3rd to November 9th 2025), at least 33 press releases were announced by companies working in Mexico, with thirteen disclosing deals and corporate issues, eight communicating mining and production issues, five announcing financial rounds, four informing on exploration results, and three reporting resources and developments of their properties. ON MEXICO ISSUES, No relevant news. ON EXPLORATION, In Sonora, Colibri retained CANMEX to conduct its next phase of drilling at the EP project, and Kenadyr provided an update on its Adelita copper-gold-silver project. In Chihuahua, Advance Metals confirmed high grade silver-gold in previously unsampled core at its Yoquivo project. In Sinaloa, Mithril provided exploration results and an update for multiple targets at its Copalquin project. ON MINING, Santacruz Silver reported consolidated production results for the period Q3, 2025 and year to date (Zimapan mine, Hidalgo). First Majestic reported Q3, 2025 production and financial results from its Mexican mine operations. Aura Minerals presented Q3, 2025 consolidated production and financial results, including figures from its Aranzazu mine in Zacatecas. Gold Resource released Q3, 2025 production and financial results from its Don David Gold mine in Oaxaca. Torex Gold announced Q3, 2025 production and financial results from its Morelos complex in Guerrero. Gold Royalty released Q3, 2025 consolidated financial results (royalty on Cozamin mine, Zacatecas). Avino Silver & Gold presented Q3, 2025 production and financial results from its Avino mine in Durango. Endeavour Silver announced Q3, 2025 consolidated production and financial results, including its Guanacevi and Bolañitos mines in Durango and Guanajuato respectively.  ON FINANCING, Colibri closed a first tranche of its previously announced non-brokered private placement for gross proceeds of CAD $1,350,722, and a second tranche for gross proceeds of CAD $140,980 (EP project, Sonora). Kingsmen announced a non-brokered private placement for gross proceeds of up to CAD $3,003,750 (Las Coloradas project, Chihuahua). Silver Storm declared that it has fully drawn USD $7.0M under the previously announced Prepaid Offtake Financing Facility with Samsung (La Parrilla mine, Durango). Oroco closed a first tranche of its non-brokered private placement announced on September 24, 2025 for gross proceeds of USD $1,530,999 (Santo Tomas project, Sinaloa).  ON RESOURCES AND DEVELOPMENT, Goldgroup filed an updated NI43-101 technical report on its Cerro Prieto gold mine in Sonora. Silver Tiger announced the receipt of all required approvals and permits to construct the El Tigre Stockwork Silver-Gold project in Sonora. Heliostar released a Preliminary Economic Assessment (PEA) for its Ana Paula underground gold project in Guerrero. ON DEALS AND CORPORATE ISSUES, Osisko Development announced the appointment of Scott Smith as Vice President, Exploration (San Antonio Gold project, Sonora). Mithril reported voting results of its annual general meeting of shareholders (Copalquin project, Durango). Elemental Altus announced that shareholders have overwhelmingly approved all resolutions at its special meeting (Royalty on Mercedes mine, Sonora). Aura Minerals declared dividend based on Q3, 2025 results (Aranzazu mine, Zacatecas).  Orogen granted stock options to directors, officers, employees, and consultants (Ermitaño mine, Sonora). Torex announced its initial return of capital program, which includes a quarterly dividend of CAD $0.15 per share and discretionary share repurchases through its normal course issuer bid (El Limon Guajes and Media Luna properties, Guerrero). Almadex provided an overview of its diversified portfolio of royalties on precious and base metal projects throughout North America. Silver Viper entered into two independent agreements to support ongoing digital marketing and trading-liquidity efforts (La Virginia project, Sonora). Mammoth announced the appointment of three new directors to strengthen its leadership team (Tenoriba project, Chihuahua). Royalties Inc reported that it won a major court battle in the Civil Chamber of the Superior Tribunal of Justice of Zacatecas against Capstone. Apollo Silver announced that the US Department of Interior added silver to the 2025 list of critical minerals. Inomin granted stock options to directors and two advisers of the company. Silver Viper entered into a capital market consulting agreement with Insight Capital Partners (La Virginia project, Sonora).  ON SOCIAL RESPONSIBILITY, No relevant news.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Colibri Resource Corporation retained CANMEX Perforaciones y Servicios SA de CV to conduct its next phase of drilling at the EP project in Sonora. The program will be focused on the undrilled San Perfecto and Banco de Oro target areas.
  • Kenadyr Metals Corp., provided an update on its Adelita copper-gold-silver project in Sonora. The company is preparing to commence Phase 1 exploration activities, including drilling and detailed geophysical surveys at the Cerro Grande skarn zone, following receipt of all necessary permits, including a 20-year mining license. The deal with Infinitum Copper (80%) and Minaurum Gold (20%) is basically done; just waiting on final TSXV approval, and financing is almost wrapped up with a last tranche expected soon. Overall, the project is positioned for active exploration with long-term development potential.
  • Advance Metals Limited confirmed high grade silver-gold in previously unsampled core at its Yoquivo project. More than 6,300m of unsampled core in the Pertenencia Zone has been identified, representing greater than 50% of the historic drilling completed. First batch of sample results comprising 222.7m of core across 11 holes in the southern portion of Pertenencia Zone has confirmed the untested potential, returning grades of up to 370g/t Ag & 6.2g/t Au. Sampling from holes drilled in 2022 include holes YQ-022-025 with 480 g/t AgEq over 2.05m, including 848 g/t AgEq over 1.1m, and hole YQ-022-002 with 115 g/t AgEq over 4.45m, including 249 g/t AgEq over 0.95m. Multiple additional batches of previously untested core are currently awaiting assay results.
  • Mithril Silver and Gold Limited provided exploration results and an update for multiple targets at its Copalquin project. Target 5 in the southwest area of Copalquin, which is still in the early stages of exploration but showing great promise that could significantly impact the district´s resource potential, returned impressive silver-gold drill intercepts, including a standout hit of 1,714 g/t AgEq over 1m. Drilling highlights include hole AP25-003 with 2.28 g/t Au and 500 g/t Ag (660 g/t AgEq) over 2.75m, including 5.8 g/t Au and 1,308 g/t Ag (1,714 g/t AgEq) over 1m; hole AP25-005 with 1.71 g/t Au and 246 g/t Ag (366 g/t AgEq) over 3.35m, including 5.35 g/t Au and 771 g/t Ag (1,146 g/t AgEq) over 1.05m; and hole AP25-006 with 4.55 g/t Au and 409 g/t Ag (728 g/t AgEq) over 1,25m, plus 2.41 g/t Au and 447 g/t Ag (616 g/t AgEq) over 0.90m, plus 1.51 g/t Au and 321 g/T AgEq) over 0.80m. To date, 13 drilled holes have been completed at Target 5 with assay results received for the first eight holes. On the other hand, channel sampling at Tasolera mine returned high grade results, including 2 g/t Au and 3,300 g/t Ag (3,440 g/t AgEq) over 1.4m. This target is

rapidly emerging as a major silver zone. Only around 5% of the related vein system has been tested so far, meaning there´s plenty more ground to cover. Ongoing exploration mapping and channel sampling is on progress to expand its footprint. At Target 3, preparations are underway for drilling, supported by ongoing mapping and sampling efforts. This target is a large, highly prospective gold-silver zone with multiple high-grade surface samples and extensive mapped veins. At Target 1 (El Refugio-La Soledad), which hosts the maiden JORC mineral resource estimate,  an ongoing drilling program is underway aiming to expand this existing resources by testing its western extensions and deep zones. At Target 6, new targets, including old workings have been identified with some recent sampling and mapping, indicating potential for future exploration. In general, drilling keeps revealing solid gold-silver mineralization, and the company is moving fast with more holes planned in multiple areas of the district.

ON MINING

  • Santacruz Silver Mining Ltd., reported its consolidated production results for the period Q3, 2025 and year to date (Zimapan mine, Hidalgo). The table below shows figures for the Zimapan mine in Hidalgo:

First Majestic Silver Corp., reported Q3, 2025 production and financial results from its Mexican mine operations. The first table below shows consolidated financial results, and  the second production figures by mine operation:

Aura Minerals Inc., presented Q3, 2025 consolidated production and financial results from its mine operations. The table below shows production and financial results from its Aranzazu mine in Zacatecas:

  • Gold Resource Corporation released Q3, 2025 production and financial results from its Don David Gold mine in Oaxaca. The company milled 65,131 tonnes with grades of 1.11 g/t Au, 250 g/t Ag, 0.16% Cu, 0.6% Pb, and 1.6% Zn to produce 1,646 Oz Au, 453.05K Oz Ag, 73 tonnes Cu, 241 tonnes Pb, and 784 tonnes Zn. Gold Resource sold 1,422 Oz Au, 417.7K Oz Ag (6,298 Oz AuEq), 67 tonnes Cu, 212 tonnes Pb, and 645 tonnes Zn at averages realized prices of USD $3,546/Oz Au, USD $41.39/Oz Ag, USD $9,690/tonne Cu, USD $1,937/tonne Pb, and USD $2,841/tonne Zn. Total cash and all in sustaining cost (AISC) after co-product credits were $2,166 and USD $2,983 per Oz AuEq respectively. It also reported a net loss of USD $4.7M; a working capital of USD $12.8M and cash and cash equivalent of USD $9.8 as of September 30, 2025.
  • Torex Gold Resources Inc., announced Q3, 2025 production and financial results from its Morelos complex in Guerrero (all amounts are expressed in US dollars). The company produced 95,058 Oz Au, 485.2K Oz Ag and 14M Lb Cu or 119,034 payable Oz AuEq  and sold 118,082 oz AuEq at average realized prices of $3,548 Oz Au or $3,536 Oz AuEq. Total cash and all in sustaining costs (AISC) were $1,297 and $1,658 per Oz AuEq respectively. Torex also reported revenue of $416.4M; cost of sales of $207.3M; earnings from mine operations of $209.1M; net income of $114.4M; adjusted net earnings of $103.4M; EBITDA of $235.3M; adjusted EBITDA of $239.3M; net cash generated from operating activities of $186.8M; net cash generated from operating activities before changes in non-cash operating working capital of $204M; free cash flow of $112.5M; cash and cash equivalents of $107.1M; and an available liquidity of  $289M.
  • Gold Royalty Corp., released Q3, 2025 consolidated financial results, including its 1% NSR royalty in Cozamin mine in Zacatecas. “On October 30, 2025, Capstone Copper Corp. reported copper production of 6,145 thousand tonnes of copper at Cozamin in the third quarter 2025, 2% higher than the same period of 2024 as mine sequencing resulted in higher grades. It stated that Cozamin’s copper production is trending towards the upper end of its previously disclosed 2025 production guidance of 23,000 to 26,000 tonnes as well as the lower end of costs. Production is expected by Capstone to be consistently weighted through the year”.
  • Avino Silver & Gold Mines Ltd., presented Q3, 2025 production and financial results from its Avino mine in Durango (All amounts are expressed in US dollars).  The company milled 188,757 tonnes to produce 263.2K Oz Ag, 1,935 Oz Au and 1.31M Lb Cu or 580.8K Oz AgEq and sold 562.6K Oz AgEq at cash and all in sustaining cost (AISC) of $17.09 and $24.06 per Oz AgEq respectively. Avino also reported revenue of $21.04M; mine operating income of $9.9M; net income of $7.7M; EBITDA of $11.46M; adjusted earnings of $11.64M; cash provided by operation activities of $8.33M; mine operating cash flow before taxes of $11.05M; cash of $57.3M; and a working capital of $50.8M.
  • Endeavour Silver Corp., announced Q3, 2025 consolidated production and financial results, including its Guanacevi and Bolañitos mines in Durango and Guanajuato respectively (all currency is expressed in US dollars).  At Guanacevi, Durango, the company processed 99,340 tonnes to produce 1.02M Oz Ag at cash cost of $22.98 per Oz Ag and an AISC of $31.09 per Oz Ag. The company sold 1.28M Oz AgEq. At Bolañitos, Guanajuato, it processed 105,153 tonnes to produce 137K Oz Ag at cash cost of $(11.47) per Oz Ag and AISC of $27.22 per Oz Ag. The company sold 471.2K Oz AgEq.

ON FINANCING

  • Colibri Resource Corporation closed a first tranche of its previously announced non-brokered private placement of 9,004,816 units at a price of CAD $0.15 per unit for gross proceeds of CAD $1,350,722. A second tranche was closed through the sale of 939,867 units at a price of CADS $0.15 per unit for gross proceeds of CAD $140,980. Combined with tranche 1 the company has raised gross proceeds of CAD $1,491,702. Net proceeds will be used to advance exploration at Colibri´s flagship Mexican gold projects, including Pilar and EP projects in Sonora as well as for general working capital.
  • Kingsmen Resources Ltd., announced a non-brokered private placement of up to 2,225,000 units at a price of CAD $1.35 per unit for gross proceeds of up to CAD $3,003,750. The company plans to use the gross proceeds to advance its Las Colorada project in Chihuahua and for working capital.
  • Silver Storm Mining ltd., declared that it has fully drawn USD $7.0M under the previously announced Prepaid Offtake Financing Facility with Samsung C&T Hongkong Ltd. and QSSC, S.A. de C.V.  Silver Storm will use the proceeds for rehabilitation and preparation at its la Parrilla mine in Durango, including mill rehabilitation and upgrading, underground development, and for general corporate and working capital purposes.
  • Oroco Resource Corp., closed a first tranche of its non-brokered private placement announced on September 24, 2025 through the sale of 7,654,995 units at a price of USD $0.2 per unit for gross proceeds of USD $1,530,999. Net proceeds will be used to advance the Santo Tomas project in Sinaloa toward its plan Pre-Feasibility study, and for general corporate purposes. 

ON RESOURCES AND DEVELOPMENT

  • Goldgroup Mining Inc., filed an updated NI43-101 technical report on its Cerro Prieto gold mine in Sonora. The technical report provides independent assessment of the Mineral Resources Estimates at a cut-off grade of 0.2 g/t Au of the Esperanzas Deposit within the Cerro Prieto mine, which includes the La Esperanza and Nueva Esperanza contiguous zones. Measured and indicated resources as of April 4, 2025 are 3.13M tonnes of 0.37 g/t Au for a total of 37.21K Oz Au, while inferred resources are 131.5K tonnes of 0.36 for a total of 1,504 Oz Au.
  • Silver Tiger Metals Inc., announced the receipt of all required approvals and permits from the Mexican Federal Environmental Department (SEMARNAT) to construct the El Tigre Stockwork Silver-Gold project in Sonora. Now, the company is ready to advance the project toward construction.
  • Heliostar Metals Ltd., released a Preliminary Economic Assessment (PEA) for its Ana Paula underground gold project in Guerrero (all amounts are expressed in US dollars). The PEA for Ana Paula outlines a nine-year underground gold mine with an expectation to produce approximately 875K Oz Au over nine years, averaging about 101K Oz Au per year. The project demonstrates strong economics, with a base case post-tax NPV of $426M, and IRR of 28%, and a payback period of about 2.9 years at a gold price of $2,400/Oz. Upside case is $1B and IRR over 50% with quicker payback if gold hits $3,800/Oz. Heliostar is boosting some of the lowest AIUSC (around $1,011/Oz), ranking in the bottom 13% globally. Initial capital costs are estimated at $300M. Heliostar plans to fast-track development, including accelerating completion of the underground decline, ongoing exploration drilling, engineering, permit amendments, and feasibility study, with plans to bring Ana Paula into production in 2028.

ON DEALS AND CORPORATE ISSUES

  • Osisko Development Corp., announced the appointment of Scott Smith as Vice President, Exploration, effective November 1, 2025 (San Antonio Gold project, Sonora).
  • Mithril Silver and Gold Limited reported voting results of its annual general meeting of shareholders (Copalquin project, Durango).
  • Elemental Altus Royalties Corp., announced that shareholders have overwhelmingly approved all resolutions at its special meeting (Royalty on Mercedes mine, Sonora).
  • Aura Minerals Inc., declared dividend of USD $0.48 per common share and USD $0.16 per Brazilian Depositary Receipts based on Q3, 2025 results. The dividend will be paid to shareholders on November 21, 2025 (Aranzazu mine, Zacatecas). 
  • Orogen Royalties Inc., granted 2,000,000 incentive stock options to directors, officers, employees, and consultants. The stock options have a life of five years, an exercise price of CAD $2.2, and will be vest over three years (Ermitaño mine, Sonora).
  • Torex Gold Resources Inc., announced its initial return of capital program, which includes a quarterly dividend of CAD $0.15 per share and have repurchased CAD $7.2M in shares through its normal course issuer bid. The company is prioritizing returning value to shareholders while maintaining investments in growth projects across Mexico and Nevada   (El Limon Guajes and Media Luna properties, Guerrero).
  • Almadex Minerals Ltd., provided an overview of its diversified portfolio of royalties on precious and base metal projects throughout North America. Almadex’s Mexican properties include several royalties across different states, notably in Chihuahua, Veracruz, Oaxaca, and Sinaloa. These assets primarily consist of NSR royalties ranging from 1.5% to 2.0%, covering a mix of gold-silver, copper-gold, and epithermal systems. Royalty interests in Mexico include  La Bufa in Chihuahua (2% NSR / operator: Endeavour Silver Corp), which covers gold-silver mineralization in a prolific silver belt; Caballo Blanco in Veracruz (1.5% NSR operator: Candelaria Mining), a near surface oxide gold-silver deposit with significant exploration potential; El Cobre in Veracruz (1.75% NSR operator: Azucar Minerals Ltd), a large copper-gold porphyry alteration system with multiple mineralized centers; Cerro Colorado in Oaxaca (2% NSR operator: Gold Resource Corp), a near surface oxide gold-silver project close to existing operations; El Encuentro in Sinaloa (2% NSR operator: Mc Ewing Mining Inc), located in a productive gold-silver belt, offering potential for resource expansion; El Fuego in Oaxaca(2% NSR operator: Gold Resource Corp), similar structural setting as other deposits, indicating future development prospects; and Los Venados in Sonora (2% NSR operator: Alamos Mining Inc), prospective for epithermal and porphyry mineralization, acquired recently, and located near operating mines. Overall, these properties give Almadex exposure to a diverse range of mineral systems and districts in Mexico, with several in significant, potentially high-growth areas for precious and base metals.
  • Silver Viper Minerals Corp., entered into two independent agreements to support ongoing digital marketing and trading-liquidity efforts. Nordcore Media LLC will provide digital advertising and online marketing services will receive only cash, while Red Cloud Securities Inc., will use its best efforts to maintain reasonable trading liquidity in Silver Viper´s common shares on the TSX will receive a fixed monthly cash fee (La Virginia project, Sonora).
  • Mammoth Resources Corp., announced the appointment of three new directors: Jose Antonio Berlanga Balderas, Jose Antonio Berlanga Lopez, and Edgardo Espinoza Velasco, and a new CEO, Paul Rozek, to strengthen its leadership team. Mammoth also granted incentive stock options to directors, officers, and contractors to boost ongoing development efforts at its Tenoriba gold-silver project in Chihuahua and other nearby metal production plans.
  • Royalties Inc., reported that it won a major court battle in the Civil Chamber of the Superior Tribunal of Justice of Zacatecas against Capstone, confirming their rights to royalties from a mining contract dating back to 2002. The appellate court in Zacatecas, Mexico upheld the initial ruling that said Capstone and others improperly sold royalties without proper authorization, and now they have to pay legal costs too. The case is officially closed, and the company expects Capstone to cooperate in sorting out the payments owed.
  • Apollo Silver Corp., announced that the US Department of Interior added silver to the 2025 list of critical minerals. This is the first time that silver is recognized as having growing importance to US economic and national security.
  • Inomin Mines Inc., granted 830,000 stock options to directors and two advisers of the company. The options are exercisable until November 7, 2030, at a price of CADS $0.09 per common share and vest immediately.
  • Silver Viper Minerals Corp., entered into a capital market consulting agreement with Insight Capital Partners Inc., to support the company´s capital markets visibility and investor communication efforts. Insight will receive a monthly cash fee of CAD $17,500 plus applicable Harmonized Sales Tax (HST), payable in advance (La Virginia project, Sonora).

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, quartz vein hosted in volcanic rocks from an intermediate sulphidation epithermal vein system in Chihuahua, Mexico. Photo taken by Miguel A Heredia.

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

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Actinolite

By Miguel A Heredia

During the 3rd week of the year (January 13th to January 19th 2025), at least 36 press releases were announced by companies working in Mexico, with thirteen disclosing deals and corporate issues, eight announcing financing rounds, eight reporting resources and development of their properties, six communicating production results, and one commenting on Mexican issues.  ON MEXICO ISSUES, Prime Mining, Kootenay Silver, and Impact Silver reported the best drilling intercepts in Mexico on the third week of January, 2025. ON EXPLORATION, no relevant news. ON MINING, Alamos Gold announced that it plans to release its Q4 and year-end 2024 financial results on February 19, 2025 (Mulatos mine, Sonora). Pan American Silver reported Q4, 2024 production results from their Mexican mining operations (La Colorada, Zacatecas and Dolores, Chihuahua). Sierra Metals announced Q4, and end-year 2024 production results from its Bolivar mine in Chihuahua. SilverCrest reported Q4 and end-year 2024 production results from its Las Chispas mine in Sonora. Endeavour provided 2025 production and cost guidance for Guanacevi and Bolañitos mines located in Durango and Guanajuato states respectively. Alamos reported Q4 and annual 2024 production results for its Mulatos mine, Sonora, and provided three years operating guidance. Torex Gold provided operational guidance and updated five-year production outlook (Morelos Complex, Guerrero). ON FINANCING, Goldgroup announced a non-brokered private placement for gross proceeds of up to $3.5M (Cerro Prieto mine, Sonora). Barksdale reported that it is seeking approval from the Toronto Stock Exchange to amend its secured convertible debentures held by Delbrook Capital Advisors Inc (San Javier project, Sonora). Silver Viper announced share consolidation (La Virginia project, Sonora). Quetzal Copper reported an extension to its non-brokered private placement (Cristinas project, Chihuahua).  Royalties Inc., closed a non-brokered private placement for gross proceeds of $180K (Bilbao project, Zacatecas). Minera Alamos announced Auramet loan extension (Santana mine, Sonora). Goldgroup completed the acquisition of a loan facility to acquire all shares of Minera Apolo (Cerro Prieto mine, Sonora). Silver Storm closed the third tranche of its non-brokered private placement financing for gross proceeds of CAD $784,500 (La Parrilla mine, Durango). ON RESOURCES AND DEVELOPMENT, Luca Mining commenced a 5,000m underground diamond drilling program at Campo Morado mine, Guerrero. Avino commenced underground development at its La Preciosa mine in Durango. GoGold announced results of Los Ricos project, Jalisco Feasibility Study. Heliostar Metals filed technical reports on the La Colorada operations in Sonora, San Agustin operations in Durango, and San Antonio project in Baja California Sur. Prime Mining reported expansion drilling results from its Los Reyes project, Sinaloa. Kootenay released results of seven holes drilled at its Columba project in Chihuahua. Impact Silver reported results from its ongoing drill program in the Juarez mine area of its Plomosas mine, Chihuahua.  ON DEALS AND CORPORATE ISSUES, Infinitum Copper announced the appointment of a new member to its Board of Directors (La Adelita project, Sonora). Luca Mining declared that it has been invited to participate in a 2025 Mining Conference presented by Maxim Group LLC (Tahuehueto project, Durango). Capstone announced the appointment of a new member to its Board of Directors (Cozamine mine, Zacatecas). SilverCrest mailed and filed meeting material for its special meeting of shareholders (Las Chispas mine, Sonora). Fortuna Mining entered into a binding letter agreement to sell its non-core San Jose mine, Oaxaca to Minas del Balsas Luca Mining announced it has been named to the 2025 OTCQX® Best 50 (Campo Morado mine, Guerrero). Sierra Metals rejected a hostile takeover bid from Alpayana S.A.C. (Bolivar mine, Chihuahua). SilverCrest announced the appointments of their Senior Vice President Operations and Senior Vice President Corporate Development (Las Chispas mine, Sonora). Luca Mining granted stock options to its Chief Technology Officer (Campo Morado mine, Guerrero). MAG Silver announced the retirement of a member of its Investor Relations team (Juanicipio mine, Zacatecas). First Majestic completed the acquisition of Gatos Silver. Inomin commenced initial discussions with companies interested in partnering or acquiring its la Gitana project in Oaxaca. Agnico Eagle offered O3 Mining shareholders $1.67 per share in cash, representing a 58% premium over O3’s closing price on December 11, 2024 (Pinos Altos mine, Chihuahua). ON SOCIAL RESPONSIBILITY,  no relevant news.

ON MEXICO ISSUE

  • Prime Mining Corp., Kootenay Silver Inc., and Impact Silver Corp., reported the best drilling intercepts in Mexico on the third week of January, 2025. Details are shown in the table below:

ON EXPLORATION

  • No relevant news.

ON MINING

  • Alamos Gold Inc., announced that it plans to release its Q4 and year-end 2024 financial results on February 19, 2025 (Mulatos mine, Sonora).
  • Pan American Silver Corp., reported Q4, 2024 production results from their Mexican mining operations. The company produced in Q4, 2024 a total of 1.6M Oz Ag and 0.7K Oz Au at La Colorada mine, Zacatecas for an end-year 2024 of 4.88M Oz Ag while at Dolores mine, Chihuahua, it produced 424K Oz Ag in Q4, 2024 and 17.9K Oz Au for an end-year 2024 of 1.7M Oz Ag and 72.3K Oz Au.
  • Sierra Metals Inc., announced Q4, and end-year 2024 production results from its Bolivar mine in Chihuahua. In the period Q4, 2024, Sierra Metals processed 452,613 tonnes of 0.77% Cu, 16 g/t Ag and 0.32 g/t Au with metallurgical recoveries of 91.2%, 84.32%, and 66.67% respectively to produce 7M Lb Cu, 196K Oz Ag, and 3K Oz Au. In the full fiscal year 2024, the company processed 1,626,440 tonnes of 0.84% Cu, 19 g/t Ag, and 0.38 g/t Au, with metallurgical recoveries of 91.36%, 83.03%, and 67.01% respectively, to produce 27.45M Lb Cu, 812K Oz Ag, and 13.4K Oz Au. Sierra metals also provided its 2025 production guidance and expect to produce between 25.1-27.4M Lb Cu, 680-740K Oz Ag, and 8.1-13.4K Oz Au, at cash and AISC of $2.64-$2.77 and $3.45-$3.62 per Lb CuEq respectively.
  • SilverCrest Metals Inc., reported Q4 and end-year 2024 production results from its Las Chispas mine in Sonora. During Q4, 2024 it mined 127,278 tonnes and milled 113,594 tonnes with a grade of 3.89 g/t Au and 385 g/t Ag with metallurgical recoveries of 98.4% both to produce 13.9K Oz Au and 1.38M Oz Ag. The company sold 15.1K Oz Au and 1.45M Oz Ag at averages prices of USD $2,647 per Oz Au and USD $31.26 per Oz Ag. In Oz AgEq it processed an average grade of 694 g/t AgEq to produce 2.5M Oz AgEq and sold 2.65M Oz AgEq. In the end-year 2024, SilverCrest mined 437,263 tonnes and milled 439,387 tonnes with a grade of 4.28 g/t Au and 410 g/t Ag with metallurgical recoveries of 98.5% and 98.2% respectively, to produce 58.9K Oz Au and 5.66M Oz Ag. The company sold 59.8K Oz Au and 5.75M Oz Ag at averages prices of USD $2,356 per Oz Au and USD $28.03 per Oz Ag. In Oz AgEq it processed an average grade of 745 g/t AgEq to produce 10.35M Oz AgEq and sold 10.5M Oz AgEq.
  • Endeavour Silver Corp., provided 2025 production and cost guidance for Guanacevi and Bolañitos mines located in Durango and Guanajuato states respectively. At Guanacevi, Durango, the company expects to process between 1,000-1,100 tonnes per day to produce 3.9-4.4M Oz Ag and 11-13.5K Oz Au (4.8-5.5M Oz AgEq).  At Bolañitos, Guanajuato, Endeavour expects to process 1,100-1,200 tonnes per day, to produce between 0.6-0.8M Oz Ag and 19.5-20.5K Oz Au (2.2-2.4M Oz AgEq). Consolidated cash costs and all-in sustaining costs (AISC) for Guanaceví and Bolañitos in 2025 are estimated to be USD $16.00- USD $17.00 per oz silver and USD $25.00-USD $26.00 per oz silver, respectively, net of gold by-product credits.
  • Alamos Gold Inc., reported Q4 and annual 2024 production results for its Mulatos mine, Sonora, and provided three years operating guidance (currency is expressed in US dollars). In Q4, 2024, the company produced 38.9K Oz Au from Mulatos mine, for a total production in the full year 2024 of 205K Oz Au. 2025 guidance for Mulatos mine is expected to be in the range of 130-140K Oz Au, at cash and AISC of $925-$975 and $1,025-$1,075 per Oz Au produced respectively. 2026 and 2027 guidance for Mulatos mine is expected to be in the range of 120-130K Oz Au, and 125-135K respectively.
  • Torex Gold Resources Inc., provided its 2025 operational guidance and updated five-year production outlook for its Morelos Complex in Guerrero (currency expressed in US dollars). 2025 payable production is expected to be between 400-450K Oz AuEq, down from 460-480K Oz AuEq in 2024, primarily due to scheduled four-week processing plant shutdown. Total CAPEX are projected at $175-195M, with sustaining capital at $85-95M and non-sustaining capital at $90-100M. The company plans to drill 124,500m to improve resource definition, particularly in the Media Luna area. The company plans to maintain annual AuEq production at least 450K Oz from 2025 through 2030, supported by the Media Luna project and the anticipated start-up of the EPO project in late 2026.   

ON FINANCING

  • Goldgroup Mining Inc., announced a non-brokered private placement of up to 35,000,000 units of the company at a price of $0.10 per unit for gross proceeds of up to $3.5M. Each unit will consists of one common share and one-half common share purchase warrant, with each full warrant being exercisable to purchase one common share at a price of $0.15 for 24 months from the date of issuance. Gross proceeds will be used to advance its Cerro Prieto project in Sonora, for general working purposes and debt reduction.
  • Barksdale Resources Corp., reported that it is seeking approval from the Toronto Stock Exchange Venture (TSXV) to amend its secured convertible debentures held by Delbrook Capital Advisors Inc. The proposed amendments include extending the maturity date to December 31, 2025 and reducing the conversion price from $0.55 to $0.18 per share. Additionally, Barksdale plans to issue 8,000,000 new detachable common share purchase warrants to Delbrook, as the previous warrants expired unexercised on December 31, 2024. The company is also pursuing a securities-for-debt settlement to address accrued interest on the debentures, totaling 151,643.84, by issuing 1,045,819 units at a deemed price of $0.145 per unit. Any subsequent interest accrued under the Debentures after December 31, 2024 shall be payable until January 17, 2025 in accordance with the terms and conditions of the Debentures and the policies of the TSXV. These actions aim to strengthen Barksdale’s financial position and facilitate ongoing projects in base metal exploration (San Javier project, Sonora).
  • Silver Viper Minerals Corp., announced share consolidation announced a share consolidation, converting ten pre-consolidation common shares into one post-consolidation common share, effective January 15, 2025. Registered shareholders will receive letters of transmittal with instructions for exchanging their shares, while those holding shares via direct registration system will not need to take any action. Prior to the consolidation, the company had 194,771,623 common shares outstanding, which will reduce to approximately 19,477,163 shares post-consolidation (La Virginia project, Sonora).
  • Quetzal Copper Corp., reported an extension to its non-brokered private placement offering, now set to close by February 17, 2025. The company plans to sell up to 6,666,666 units at CAD $0.15 each, aiming for gross proceeds of up to CAD $1M, and up to 11,764,705 flow-through units at CAD $0.17 each for up to CAD $2M. Each unit includes one common share and a half warrant, allowing the purchase of additional shares at CAD $0.25 for 24 months. The proceeds will be used for exploration and development activities related to their projects in British Columbia and Mexico (Cristinas project, Chihuahua).
  • Royalties Inc., closed a non-brokered private placement of 6M shares at a price of $0.03 per share for gross proceeds of $180K to cover overhead in Canada and property taxes and litigation expenses in Mexico in 2025 (Bilbao project, Zacatecas).
  • Minera Alamos Inc., received conditional approval from the Toronto Stock Exchange Venture (TSXV) settle the amount of USD $400K due to Auramet International, Inc. and Auramet Capital Partners, L.P. to extend the date by which certain conditions of the original loan agreement dated October 27, 2023 need to be satisfied from November 29th, 2024 to May 29th, 2025. For full consideration of the USD $400K extension fee payment, the TSXV has conditionally accepted the company’s proposal to issue 1,901,648 common shares at a deemed price of CAD $0.2949 per share (Santana mine, Sonora).
  • Goldgroup Mining Inc., completed the acquisition of a loan facility to acquire all shares of Minera Apolo S.A. de C.V. Minera Apolo is s the 100% owner of the fully permitted for construction Pinos property in Zacatecas. In consideration for the acquisition of the loan facility, the company proposes to issue 50M common shares paid pro rata to the members of the Creditor Group, the payment of cash consideration of USD $0.5M within 18 months of the closing date of the agreement entered in connection with the acquisition of the loan facility, and a payment of USD $1.5M in contingent consideration which is only due upon the completion of certain criteria, including a positive pre-feasibility study at the Pinos project, the advancement of the project into commercial production, publishing an updated 43-101 with greater than 200K Oz of contained gold equivalent ounces for the Pinos project, or the Company’s owned interest in the Pinos project falling to less than 51%. The completion of this transaction is subject to receipt of all necessary approvals, including approval of the TSX Venture Exchange (Cerro Prieto mine, Sonora).
  • Silver Storm Mining Ltd., closed the third tranche of its non-brokered private placement financing for gross proceeds of CAD $784,500. The third tranche included a CAD $500K investment from current significant shareholder Eric Sprott. To date under the Offering, the Company has raised total gross proceeds of CAD $1,290,420. Net proceeds will be used to complete its upcoming NI43-101 resource statement and for general corporate and working capital purposes (La Parrilla mine, Durango).

ON RESOURCES AND DEVELOPMENT

  • Luca Mining Corp., commenced a 5,000m underground diamond drilling program consisting in 25 holes to target the addition of mineral resources from under-drilled zones proximal to existing underground production areas as well as the identification of mineralization within previously untested areas with high potential for the discovery of new mineral resources to the near and medium term mine plan at its Campo Morado mine in Guerrero. It is the first drilling campaign in Campo Morado in over a decade.
  • Avino Silver & Gold Mines Ltd., commenced underground development at its La Preciosa mine in Durango, following receipt of all required permits for mining operations. The development of a 350m mine access and haulage decline is designed to intercept the high grade La Gloria and Abundancia veins. Development for the first phase at La Preciosa is expected to be under $5M and will be funded from cash reserves.
  • GoGold Resources Inc., announced results of Los Ricos project, Jalisco Feasibility Study (all currency expressed in US dollars). Highlights include an after tax net present value, using a discount rate of 5%  of $355M, with an after-tax IRR of 28%; a NPV, using a discount rate of 5%  of $ 469 at approximate spot metal silver price of $30 per Oz and gold price of $2,608 per Oz; 15-year mine life producing a total of 80M Oz payable AgEq, consisting of 41M Oz Ag, 424K Oz Au, and 11M Lb Cu; Initial capital costs of $227M, including $21M in contingency costs, over an expected two year build, and sustaining capital costs of $100M over the life of mine; average operating cash costs of $9.94/Oz AgEq, and all in sustaining costs (AISC) of $11.19/Oz AgEq over first 5 years of production, with average AISC of $12.32/Oz AgEq over the underground mine life; average annual production of 7.3M Oz AgEq oz over first 5 years; successful conversion of Mineral Resources to Proven and Probable Mineral Reserves totalling 10.2M tonnes grading 276 g/t AgEq containing 91M Oz AgEq, including 7.5M underground tonnes grading 326 g/t AgEq; and average underground mining width of 11m using bulk mining method of longitudinal sub-level long-hole mining.
  • Heliostar Metals Ltd., filed technical reports on the La Colorada operations in Sonora, San Agustin operations in Durango, and San Antonio project in Baja California Sur. La Colorada, Sonora shows a NPV of USD $25.9M using a discount rate of 5%; an IRR of USD $11.9M; a CAPEX of USD $53.9M; and 287K total ounces produced at a USD $2,000/Oz gold price. El Crestón expansion at La Colorada is expected to produce over 50K Oz Au per year. Current drill program (five drill rigs) is targeting lower CAPEX and increased production for updated technical report planned for mid-2025. San Agustin, Durango shows a NPV of USD $12.7M using a discount rate of 5%; an IRR of USD $156.1M; a CAPEX of USD $4.2M; and 45K total ounces produced at a USD $2,100/Oz gold price. Upon receipt of permit, expected in 2025, the company will undertake drilling to potentially extend the mine life from oxide gold production and is reviewing the projects sulphide potential. San Antonio, Baja California Sur PEA shows a NPV of USD $398.7M using a discount rate of 5%; an IRR of USD $40.7M; a CAPEX of USD $131.3M; and 1.1M total ounces produced at a USD $1,900/Oz gold price. Mineral resource of 1.6M Oz Au at San Antonio project creates attractive optionality with high grade, low CAPEX, sub-USD $1,100/Oz AISC and long mine life.
  • Prime Mining Corp., reported expansion drilling results from Tahonitas within its Los Reyes project, Sinaloa. Drilling highlights (true width reported) include holes 24TA-149 with 2.23 g/t Au and 266 g/t Ag (5.67 g/t AuEq) over 4.2m, including 3.94 g/t Au and 429 g/t Ag (9.49 g/t AuEq) over 2.1m; hole TA24-144 with 1.36 g/t Au and 20 g/t Ag (1.62 g/t AuEq) over 15.2m, including 1.17 g/t Au and 28 g/t Ag (1.54 g/t AuEq) over 0.8m, and including 4.22 g/t Au and 55 g/t Ag (4.94 g/t AuEq) over 3.7m; and hole 24TA-153 with 2.55 g/t Au and 184 g/t Ag (4.93 g/t AuEq) over 3.3m, including 7.09 g/t Au and 541 g/t Ag (14.09 /t AuEq) over 1.1m, plus 0.72 g/t Au and 15 g/t Ag (0.92 g/t AuEq) over 19.2m, including 2.23 g/t Au and 46 g/t Ag (2.82 g/t AuEq) over 2.4m.
  • Kootenay Silver Inc., released results of seven holes drilled at its Columba project in Chihuahua. Drilling highlights (true widths reported) include holes CDH-24-183 on F-Vein with 210 g/t Ag, 0.1% Pb, and 0.4% Zn over 14.7m, including 1,440 g/t Ag, 0.5% Pb, and 2.5% Zn over 0.36m, and 468 g/t Ag, 0.4% Pb, and 1.1% Zn over 3.05m, including 811 g/t Ag, 0.6% Pb, and 1.8% Zn over 0.46, and 1,050 g/t Ag, 0.9% Pb, and 2.9% Zn over 0.46m, plus some intercepts on FW to F-Vein with 82 g/t Ag, 0.05% Pb, and 0.1% Zn over 7.36m, including 905 g/t Ag, 0.6% Pb, and 0.3% Zn over 0.17m; and hole CDH-24-177 on D-Vein with 130 g/t Ag, 0.06% Pb, and 0.1% Zn over 7.6m, including 222 g/t Ag, 0.1% Pb, and 0.2% Zn over 3.50m. The results are a continuation of ongoing drill testing of those three trends.
  • Impact Silver Corp., reported results from its ongoing underground drill program in the Juarez mine area of its Plomosas mine, Chihuahua. Drilling highlights (true widths reported) include holes UGMJ-2420 with 14.1% Zn, 1.6% Pb, and 12 g/t Ag over 2.2m, including 26.1% Zn, 3% Pb, and 23 g/t Ag over 0.9m; hole UGMJ-2415 with 30.1 % Zn, 2.7% Pb, and 19 g/t Ag over 1.2m, plus 18.91% Zn, 0.1% Pb, and 13 g/t Ag over 0.4m, plus 10.2% Zn, 5.4% Pb, and 26 g/t Ag over 1.2m; and hole UGMJ-2422 with 30.1% Zn, 10.1% Pb, and 40 g/t Ag over 1.1m.

ON DEALS AND CORPORATE ISSUES

  • Infinitum Copper Corp., announced the appointment of a new member to its Board of Directors and the resignation of one of its Directors (La Adelita project, Sonora).
  • Luca Mining Corp., declared that it has been invited to participate in the 2025 Mining and Supplying Critical Minerals & Precious Metals Conference presented by Maxim Group LLC (Tahuehueto project, Durango).
  • Capstone Copper Corp., announced the appointment of a new member to its Board of Directors (Cozamine mine, Zacatecas).
  • SilverCrest Metals Inc., mailed and filed meeting material for its special meeting of shareholders, where securityholders will be asked to pass a special resolution approving an arrangement with Coeur Mining Inc, whereby SilverCrest shareholders will receive 1.6022 shares of Coeur common stock for each SilverCrest share (Las Chispas mine, Sonora).
  • Fortuna Mining Corp., entered into a binding letter agreement to sell its 100% interest in Compañía Minera Cuzcatlán S.A. de C.V., to Minas del Balsas S.A. de C.V. Compañia Minera Cuzcatlan is the owner of San Jose mine, Oaxaca and Minas del Balsas will acquire 100% interest by paying USD $2M on closing of the transaction; a further USD $2M payable on the first anniversary of closing the transaction; a final USD $2M on the second anniversary of closing the transaction; and the right to receive up to approximately USD $11M upon the completion of certain conditions. Additionally, Fortuna will retain a 1% NSR on production from the San Jose mine concession, for a 5-year term as of the start of production.
  • Luca Mining Corp., announced it has been named to the 2025 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year  (Campo Morado mine, Guerrero).
  • Sierra Metals Inc., rejected a hostile takeover bid from Alpayana S.A.C., stating that the offered price of CAD $0.85 per share undervalues the company. The Board of Directors, supported by over 50% of shareholders, believes the bid does not reflect Sierra’s growth potential, particularly in light of increasing copper demand and the company’s operational successes. They recommend that shareholders take no action to reject the bid and emphasize the company’s strong prospects for future value creation. The Board is also exploring other strategic alternatives to maximize shareholder value (Bolivar mine, Chihuahua).
  • SilverCrest Metals Inc., announced the appointments of their Senior Vice President Operations and Senior Vice President Corporate Development (Las Chispas mine, Sonora).
  • Luca Mining Corp., granted 500K stock options exercisable at a price of $0.58 to its Chief Technology Officer and expires five years from the date of their issuance. A second tranche of 100K options, exercisable at $0.58 has been granted to one other eligible person in accordance with Luca’s omnibus equity incentive plan. These options are exercisable over a period of two years (Campo Morado mine, Guerrero).
  • MAG Silver Corp., announced the retirement of a member of its Investor Relations team (Juanicipio mine, Zacatecas).
  • First Majestic Silver Corp., completed the acquisition of Gatos Silver Inc., pursuant to the agreement and plan of merger previously announced. Both companies announced that they received all necessary shareholder approvals at the respective special meetings of each company’s shareholders. With the transaction now complete, the Gatos Silver shares will cease trading and will be delisted from the New York Stock Exchange and the Toronto Stock Exchange.
  • Inomin Mines Inc., commenced initial discussions with companies interested in partnering or acquiring its la Gitana project in Oaxaca. Drilling at La Gitana has outlined a significant gold-silver deposit open to expansion.
  • Agnico Eagle Mines Limited offered O3 Mining Inc., shareholders $1.67 per share in cash, representing a 58% premium over O3’s closing price on December 11, 2024. The offer expires on January 23, 2025, and has been unanimously recommended by O3 Mining’s Board and Special Committee. Approximately 39% of O3’s outstanding shares are already committed through Lock-up Agreements. Shareholders are encouraged to tender their shares promptly to ensure timely processing.

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, actinolite from an IOCG project in Sonora, Mexico. Photo taken by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of October 2023

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By Jorge Cirett                                             

During the 43rd week of the year (October 23rd to October 29th, 2023), 22 companies working in Mexico posted news releases. One company reported exploration on one of its properties, five companies released Q3 2023 results and one announced new production from a recently acquired mine. One company informed on the closing of a financing round and one other the sale of more than 10% of its shares by another company.  Three companies released drilling results from their advanced projects, one on the doubling of processing capacity, one the results of an FS on its advanced property, one offered an update on construction of a new mine and another one presented a PEA on its advanced project. One company updated on the acquisition process of a property and four more on director’s appointments and results of their AGM’s. ON MEXICO ISSUES, The AIMMGM Convention in Acapulco, the biggest Mining event in Mexico held every two years, was cancelled after its opening, as the city received overnight the direct impact of a category five hurricane. ON EXPLORATION, In Sonora, Tocvan Ventures started the environmental permitting process at Pilar. ON MINING, Agnico Eagle Mines, Alamos Gold, MAG Silver, Fresnillo PLC and Newmont presented Q3 2023 production results. Impact Silver started production at the Plomosas mine in Chihuahua. ON FINANCING, Avino Silver informed Coeur Mining is to sell more than 10% of its stock. Regency Silver completed its financing round.  ON RESOURCES AND DEVELOPMENT, Vizsla Silver, Gatos Silver and Endeavour Silver reported drilling results from the Panuco, Cerro Los Gatos and Parral properties respectively. Luca Mining is expanding the Tahuehueto plant to double production. Discovery Silver presented results from a feasibility study on its Cordero project. Endeavour Silver provided a Q3 construction update on the Terronera project. GoGold Resources presented the results of a preliminary economic assessment (PEA) on its Los Ricos South project. ON DEALS AND CORPORATE ISSUES, Defiance Silver and Chesapeake Gold announced officer’s appointments. Excellon Resources rescheduled its AGM and Fabled Silver updated on the agreement to acquire the Mecatona project from Kootenay. ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

ON EXPLORATION

  • Tocvan Ventures Corp. started the environmental permitting process of its Pilar project in Sonora. A detailed UAV LiDAR survey across Pilar and the newly acquired ground. The expansion area covers 21.7 square km, and the study is to provide high-resolution surface modelling.

ON MINING

  • Impact Silver Corp. announced the first production by the company at the recently acquired Plomosas mine in Chihuahua. The company did “an extensive rehabilitation and upgrade program at the site, including inside the mine, at the mill and on all associated mobile equipment and infrastructure”. The first concentrate shipment was sent to the smelter. Impact is to seek 200 tpd processing in H1/2024.
  • Agnico Eagle Mines Ltd. informed that during Q3 2023 “Minera de San Nicolás, which is jointly owned by the Company and Teck Resources Limited, continued to work on the feasibility study at San Nicolás in Zacatecas State, Mexico, and stakeholder engagement on the permitting process”. At Pinos Altos, in Chihuahua, 450 K tonnes were milled at 4,891 tpd, averaging 1.84 gpt Au, to produce 25,386 Oz Au at $1,581 per Oz Au and a total cash cost of $1,310 per Oz Au. At La India, in Sonora, 970 K tonnes were milled at 10,543 tpd, averaging 1.1 gpt Au, at a production cost of $1,271 per Oz Au and a total cash cost of $1,156 per Oz Au.
  • Alamos Gold Inc. reported financial results for the third quarter 2023. At the Mulatos district in Sonora 53,900 Oz Au were produced at mine-site cash cost $898 per Oz Au and a mine site AISC of $1,045 per Oz Au. At La Yaqui Grande open pit, 918 K tonnes of ore were mined, 5.72 M tonnes of waste moved with a waste to ore ratio of 5.0, crushing 10,300 tpd, with 948.4 K tonnes staked averaging 1.50 gpt Au, with 45,722 Oz Au staked and an average recovery rate of 84%. At the Mulatos open pit, 80.9 K tonnes of ore were mined, 130.5 K tonnes of waste moved with a waste to ore ratio of 1.61, crushing 11,800 tonnes per day, stacking 1.08 M tonnes averaging 1.55 gpt Au, to stake 53,923 Oz Au with an average recovery rate of 29%. “Production is expected to decrease in the fourth quarter reflecting the depletion of the Mulatos pit and a decrease in grades at La Yaqui Grande”.
  • MAG Silver Corp. reported Q3 2023 production from Juanicipio (56%/44% Fresnillo/MAG) in Zacatecas. “Ramp up of the Juanicipio plant continued to be the focus during the quarter with the plant reaching its target milling rate of 4,000 tonnes per day (“tpd”) in September”. During the period 322.2 K tonnes were processes, grading 1.32 gpt Au, 523 gpt Ag, to produce 9,444 Oz Au, 4.78 M Oz Ag.
  • Fresnillo Silver PLC. reported Q3 2023 production results. During the period 13.4 M OZ were produced, 0.67 M Oz from silverstream for a total of 14.1 M Oz Ag, 132,627 Oz Au, 14,575 tonnes Pb, 29,073 tonnes Zn, from the Fresnillo, Saucito, Pyrites Plant, Ciénega, San Julian Veins, San Julian DOB, Herradura, Nochebuena and Juanicipio (56%/44% Fresnillo/MAG Silver).
  • Newmont Corp. announced third quarter 2023 results, with some comments on its Mexico operations. At Peñasquito, in Zacatecas, operations were suspended by a strike that was resolved after the quarter’s end, therefore there was no Au, Ag, Pb, Zn production.

ON FINANCING

  • Avino Silver & Gold Mines Ltd. announced that Coeur Mining Inc. will offer for sale up to 14 M common shares of Avino currently held by Coeur, for gross proceeds to Coeur of approximately US$7 M. Avino will not receive any proceeds form the secondary offering (Avino, Durango).
  • Regency Silver Corp. completed the final tranche of a previously announced non-brokered private placement, raising an upsized total of CAD$1.75 M (Dios Padre, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Vizsla Silver Corp. reported results from five new drill holes at its Panuco project in Sinaloa. Recent drilling intercepted the new El Molino vein, which is 250 m from the Copala resource area, and was discovered by a hole planned to condemn the area. Highlighted true width intercepts comprise 1.65 m @ 8.37 gpt Au, 1,552 gpt Ag, 0.5% Pb, 1.2% Zn; 1.10 m @ 0.62 gpt Au, 188 gpt Ag, 0.8% Pb, 2.5% Zn; 1.7 m @ 2.25 gpt Au, 1,000 gpt Ag, 0.3% Pb, 0.5% Zn; 4.15 m @ 0.96 gpt Au, 179 gpt Ag, 0.2% Pb, 4.4% Zn. “El Molino consists of alternating bands of quartz and sulfides (sphalerite, galena and acanthite), and shows similar vein textures to those observed at Napoleon and La Luisa veins”.
  • Gatos Silver Inc. updated on exploration at the Los Gatos district in Chihuahua. Resource definition drilling on the SE Deeps zone of the Cerro Los Gatos deposit returned good results highlighting true width intervals of 2.9 m @ 0.46 gpt Au, 550 gpt Ag, 0.30% Cu, 13.7% Pb, 24.5% Zn; 5.8 m @ 0.38 gpt Au, 44 gpt Ag, 1.13% Cu, 2.7% Pb, 2.5% Zn; 2.8 m @ 0.19 gpt Au, 140 gpt Ag, 0.47% Cu, 5.6% Pb, 17.1% Zn; 2.8 m @ 457 gpt Ag, 2.13% Cu, 2.8% Pb, 0.9% Zn; 7.6 m @ 0.58 gpt Au, 148 gpt Ag, 0.73% Cu, 1.9% Pb, 1.6% Zn; 1.22 gpt Au, 207 gpt Ag, 0.74% Cu, 10.1% Pb, 3.4% Zn. On district exploration, two holes were completed at the Santa Ana target and drilling started at Portigueño, detailed mapping and rock geochemistry were completed at the San Luis, El Valle and Lince areas and the first magneto-telluric survey was completed on an area of the Rio conchos basin, near Cerro Los Gatos.
  • Endeavour Silver Corp. reported drill results from last year’s (September 2022 to September 2023) drill program at its Parral project, in Chihuahua. Highlighted true width intercepts comprise 2.33 m @ 0.11 gpt Au, 508 gpt Ag, 0.4% Pb, 1.6% Zn (including 0.43 m @ 0.13 gpt Au, 1,405 gpt Ag, 0.4% Pb, 2.2% Zn); 2.50 m @ 0.28 gpt Au, 336 gpt Ag, 1.0% Pb, 2.5% Zn (including 0.29 m @ 0.40 gpt Au, 1,760 gpt Ag, 0.7% Pb, 4.0% Zn); 9.1 m @ 0.24 gpt Au, 74 gpt Ag, 0.8% Pb, 2.6% Zn); 3.89 m @ 0.30 gpt Au, 198 gpt Ag, 2.0% Pb, 7.3% Zn. Drilling has found mineralization in the Sierra Plata, El Verde and San Joaquín areas “and the extension of San Patricio vein system. All drilling was outside of the published mineral resource estimate and results are expected to grow the resource estimate”.
  • Luca Mining Corp. announced the expansion project to double throughput at its Tahuehueto mine in Durango is progressing according to plan. “The objective is to achieve an installed capacity of 1,000 tpd by year-end and announce commercial production in first quarter of 2024”. A second ball mill is now on site, and once commissioned the milling capacity will be of 1,250 tpd, while the flotation and concentrate filtration circuits already installed can handle 1,000 tpd. A second 500 tpd tailings filter press is soon to be transported.
  • Discovery Silver Corp. presented results from its feasibility study (FS) metallurgical test program from its Cordero project in Chihuahua. Highlights from the report include: Increase Ag recoveries of up to 7% to the precious metals concentrate, significant reduction in reagent consumption, excellent metallurgical performance for oxide-sulfide blending of up to 15% oxides, “Primary grind sensitivity confirmed a coarse grind size of 200 micron passing p80 is the optimal grind size” and the need of a smaller primary crusher.
  • Endeavour Silver Corp. provided a Q3 construction update for its Terronera project in Jalisco. Overall construction progress is 38% complete with more than $95 M spent to date. “The project remains on track and on budget for initial production in Q4 2024”. Total engineering progress is 97% complete, site road access is now established, all permanent camp dormitory units to accommodate 550 personnel have been installed. Mine development is to advance on four fronts (Portal 1 to 4), “Concrete work and rebar installation continued in the SAG and ball mill grinding, coarse ore stockpile and flotation areas, and concrete work began for the primary crusher” and most long-lead major equipment is to be received before year’s end.
  • GoGold Resources Inc. filed a NI 43-101 compliant preliminary economic assessment (PEA) for its Los Ricos South project in Jalisco. The base case scenario envisages US$23.75 per Oz Ag, US$1,850 per Oz Au, an after-tax net present value (NPV 5%) of US$458 M, with an after tax IRR of 37%, an 11-year mine life to produce 47 M Oz Ag, 493 K Oz Au (or 88 M Oz AgEq). An initial capital cost of $148 M and sustaining costs of $72 M over the mine life. The average LOM production cash cost is $8.15 per Oz Ag and an AISC of $9.02 per Oz Ag, to produce 8 M Oz AgEq per year with half of the production from long hole underground mining and half from open pit mining.

ON DEALS AND CORPORATE ISSUES

  • Defiance Silver Corp. announced the appointment of George Cavey to its board of directors, replacing Dunham L. Craig (Zacatecas project, Zacatecas).
  • Chesapeake Gold Corp. announced the appointment of Jean-Paul Tsotsos as interim Chief Executive Officer (Metates, Durango).
  • Excellon Resources Inc. rescheduled its annual and special meeting to November 23, 2023 (Evolución, Durango).
  • Fabled Silver Gold Corp. updated on the agreement with Kootenay Silver Inc. to acquire the Mecatona project, in Chihuahua. “The Company is still attempting to secure the funding required in order to complete the Proposed Transaction. The Company will provide a further update on the closing of the Proposed Transaction in due course”. The company received a six-month extension by the British Columbia Register of Companies and the Exchange.
  • Orogen Royalties Inc. re-elected all of its directors on the annual general meeting (Ermitaño, Sonora).

ON SOCIAL RESPONSIBILITY

  • No relevant news.

On the image below: Bleached and goethite-stained rocks in the Sonoran Desert. Picture by Jorge Cirett.

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

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083 - copia

On the picture above, pervasive kaolinization of volcanic rocks in the vadose zone of an epithermal system in Guanajuato. Geologist Miguel Heredia for scale.

By Jorge Cirett

During the 14th week of the year (April 1st to April 8th, 2018), at least 12 press releases were announced by companies working in Mexico, of which three had information on exploration, one in mining, one in financing, five on resources and development and two in corporate issues. ON MEXICO ISSUES, No relevant news. ON EXPLORATION, In Sonora, Riverside informed on exploration of its Ariel copper project. In Sinaloa, Goldplay completed a geophysical survey at El Habal. In Durango, Southern Silver announced its exploration program for 2018 at Cerro Las Minitas. ON MINING, Torex Gold announced all access to its projects in Guerrero has been restored.  ON FINANCING, Palamina granted options to officers, directors and consultants.  ON RESOURCES AND DEVELOPMENT, Alio Gold released drill results on two more holes on its Ana Paula project in Guerrero. Telson Resources disclosed PEA figures for its Campo Morado project in Guerrero. Evrim announced a maiden resource on its Ermitaño project in Sonora. Americas Silver released drill results from the 120 zone of its Cosalá project in Sinaloa. Bacanora Lithium announced that a recent feasibility study demonstrated good economics for its Sonora project.  ON DEALS AND CORPORATE ISSUES, Evrim announced First Majestic commenced arbitration proceedings on its Ermitaño project in Sonora. Bacanora Lithium announced the termination of a “placing letter” with NextView New Energy Bull HongKong Limited, regarding funding for its Sonora lithium project.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Goldplay Exploration Ltd. completed a ground CSMAT (Controlled source audio frequency magnetotellurics) and magnetics survey at its El Habal property in Sinaloa, delineating 15 new drill targets. Goldplay completed a 27-line survey consisting of 100 m line spacing and 409 total stations over the 1.5 km of mineralized known length at El Habal. “Results confirm anomalous zones previously identified by historical drilling results and nearby shallow historical underground workings”. Several resistive geophysical anomalies were identified that correlate with anomalous surface trenching results and structural trends mapped previously.
  • Riverside Resources Inc. identified through mapping altered porphyritic intrusive rocks in the western part of its Ariel porphyry copper project in Sonora. The hydrothermal alteration measures 2.8 km in length by up to 1.9 km in width.
  • Southern Silver Exploration Corp. announced that a 2018 budget totaling US$3 M has been approved by the joint venture partners for exploration work at the Cerro Las Minitas project in Durango. “The program comprises 13,000 metres of drilling in two phases which will target both the systematic resource expansion in the Area of the Cerro containing the existing Mineral Resource Estimate and continued surface sampling and reverse circulation drilling on new discoveries in the recently staked CLM West claim group.”

ON MINING

  • Torex Gold Resources. Reported that negotiations between community leaders have resulted in an end to the illegal blockades of the El Limon-Guajes mine complex, supporting infrastructure and the Media Luna project in Guerrero. “The official government-regulated process for selecting between the two competing unions, continues. Since midMarch, there have been two public hearings at the Federal Labour Board, regarding the timing of a union selection vote. It is Torex’s understanding that the public hearing stage of the process is now complete, and that the next stage is a decision as to when and where the vote will occur. As Torex has said since the beginning, the Company will work with whichever union the workers democratically select.” Cash reserves at the end of Q1 were US$124 million, including US$14 million set aside for reclamation obligations. Also during Q1 a US$9.3 million principal repayment was made to reduce the term loan under the debt facility to US$290.7 million.

ON FINANCING

  • Palamina Corp. granted 950 K stock options to certain officers, directors and consultants of the company under its stock options plan. The options granted at $0.39 per common share expire in five years for officers and directors and in three years for consultants (Santuario, Hidalgo).

ON RESOURCES AND DEVELOPMENT

  • Alio Gold Inc. released drill results for the last two holes at its Ana Paula project in Guerrero. The 3,800 m program targets the complex breccia extension below the proposed open pit. On the first hole a hydrothermal breccia south of the proposed pit returned 0.94 g/t Au over 44.2 m, while the complex breccia below assayed 1.91 g/t Au over 40.90 m. The second hole returned 0.90 g/t Au over 32.4 m on the hydrothermal breccia south of the proposed pit and 2.03 g/t Au over 48.2 m on the complex breccia below. The fourth and fifth holes of the program have been completed and the last hole is in progress.
  • Telson Mining Corp. informed a positive result of a 43-101 compliant independent preliminary economic assessment (PEA) on its Campo Morado project in Guerrero. The current resource contains five mineral volcanogenic massive sulfide zones (G9, El Largo, Naranjo, Reforma and El Rey) containing zinc, copper, silver, gold and lead. The 2017 mineral resource estimate using a 5.5% ZnEq cut-off holds 16.6 M tonnes @ 1.70 g/t Au, 123 g/t Ag, 0.80% Cu, 0.93% Pb, 4.01% Zn (or 8.68% ZnEq) as measured and indicated resources, and 988 K tonnes @ 1.32 g/t Au, 116 g/t Ag, 0.64% Cu, 0.92% Pb, 3.20% Zn (or 7.27% ZnEq)as inferred resources.
  • Evrim Resources Corp. announced a maiden resource was disclosed by its partner First Majestic Silver Corp. on its Ermitaño project in Sonora. The inferred resource was calculated on the Ermitaño West vein, holding 3.36 M tonnes @ 3.99 g/t Au, 68 g/t Ag (or 377 g/t AgEq), containing 432 K Oz Au, 7.38 M Oz Ag.
  • Americas Silver Corp. released results of step-out holes on its Cosalá operations in Sinaloa. Highlighted true width (TW) intervals comprise 4.94 m @ 33 g/t Ag, 7.2 g/t Au, 0.13% Cu; 41.68 m @ 148 g/t Ag, 0.25 g/t Au, 0.32% Cu; 26.24 m @ 181 g/t Ag, 0.11 g/t Au, 0.51% Cu; 12.32 m @ 84 g/t Ag, 0.17 g/t Au, 0.23% Cu. “The zone 120 deposit is characterized by steeply dipping parallel lenses of Ag-Cu-Au skarn mineralization developed in volcanically derived calcareous sediments adjacent to intermediate intrusive dykes and sills. Skarn mineralization is characterized by disseminated chalcopyrite and tetrahedrite….. Mineralization at area 120 has been found over an area greater than 500 meters in length, 300 meters in width and down to a depth of 550 meters. Individual lenses have widths of up to 60 meters.”
  • Bacanora Lithium plc. Informed a recently completed feasibility study (FS) demonstrated economics of US$1.25 billion NPV; 26.1% IRR; and life of mine gross operating costs of US$3,910/t Li2CO3 comparable to those of the low cost brine producers of South America. Design of both the roaster/kiln FEED and the crystalliser/evaporation/IX FEED has commenced. “The current FEED schedule is to have designs, cost estimates and process guarantee scopes completed in Q2 2018 with orders for long lead items being placed at the end of the FEED process. The current ­time table is based on commissioning and lithium carbonate production commencing in Q1 2020” Currently advance is being made on water licenses, natural gas supplies and land surface access.

ON DEALS AND CORPORATE ISSUES

  • Evrim Resources Corp. announced “that First Majestic has initiated arbitration proceedings in connection with its purported exercise of the option pursuant to which First Majestic can earn a 100% interest in the Ermitaño property, subject to the retention by Evrim of a 2% net smelter return royalty interest. It is expected that the arbitration will deal with the requirements under the option agreement for First Majestic to exercise the option and not the relative interests of the parties in the Ermitaño property.” (Ermitaño, Sonora).
  • Bacanora Lithium plc. “As previously announced, the Company entered into a binding placing letter (the “Placing Letter”) with NextView New Energy Bull HongKong Limited (“NextView”) in December 2017 and as announced on 28 February 2018, although the Company had fulfilled all of its obligations in respect of the Placing as of that ­me, NextView failed to forward the Placing proceeds to the Company, leaving it in default under the terms of the Placing Letter. In spite of repeated efforts on the part of the Company requesting that NextView remedy its continuing default, NextView has continued to fail to complete the Placing as contemplated under the Placing Letter. Accordingly, the Company has terminated the Placing Letter and has reserved its rights to pursue any available legal remedies against NextView.”

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, pervasive kaolinization of volcanic rocks in the vadose zone of an epithermal system in Guanajuato. Geologist Miguel Heredia as scale.

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Highlights on the Fourth Week of March, 2018. Mining and Exploration News in Mexico

/ Gambusino Prospector / Leave a comment

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On the picture above, take geologists to a mining museum, and this is what you get. Geologists Ruben Padilla, Barry Quiroz and Miguel Heredia at El Oro Museum in Estado de Mexico. Photo by Jorge Cirett.

By Jorge Cirett

During the 12th week of the year (March 19th to March 25th, 2018), at least 16 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, a gold nugget weighing 850 grams was found in northern Sonora. ON EXPLORATION, In Sonora, Colibri has begun drilling at El Pilar project; while Azure updated work on its Oposura project releasing new high grade drill results. Kootenay has drilled six of seven holes on one target of its La Cigarra project, other targets to follow. ON MINING, three companies, Primero Mining, Excellon and Sierra Metals presented financial and or production results for the fourth quarter and/or full year 2017. Santacruz Silver completed expansion of milling capacity at Veta Grande in Zacatecas.  ON FINANCING, Evrim received $3 M from the exercise of warrants.  ON RESOURCES AND DEVELOPMENT, Americas Silver presented an updated resource on its San Felipe property in Sonora. Almaden provided an update on work being done on the feasibility study at the Ixtaca project in Puebla. ON DEALS AND CORPORATE ISSUES, Alio Gold is to acquire all shares outstanding of Rye Patch, a company with several properties in USA. Bacanora Minerals extended the timetable for re-domiciling by a few days. Sonoro executed an option agreement on a group of properties adjoining its Cerro Caliche property in Sonora.

ON MEXICO ISSUES

  • A gold nugget weighing 850 grams was found in La Cienega area, south of Pitiquito in Sonora. The nugget was discovered using a metal detector by a local gambusino. Northwest Sonora is known by the presence of orogenic gold style deposits, like La Herradura, Nochebuena, La Choya, San Francisco and El Chanate. This type of ore deposits has produced large gold nuggets, of up to 12 kg in weight, with the most famous specimens coming from the El Boludo, La Cienega and Tajitos gold placers.

ON EXPLORATION

  • Colibri Resource Corp. has begun phase 1 of its 2018 drilling program on its Pilar property in Sonora. The program envisages up to 30 holes to be drilled focusing on modelling and extending the known mineralization of the Main Zone to the northwest and southwest along trend. “To date, Colibri has defined an in-house resource of 700 K tonnes @ 1.9 g/t Au”.
  • Kootenay Silver Inc. informed on advances on the current drill program at its La Cigarra property in Chihuahua. Six holes have been completed, and one more is in progress at La Borracha zone, which is the extension of the structure that hosts La Cigarra resource, and drilling has now tested 1,000 m of strike length beyond the resource. Results will be disclosed once all assays have been received. The next drill target is the newly identified Nogalera gold zone, with 8 holes planned on anomalous mineralization over more than 1,000 m of length. Once Nogalera has been drilled, the 104-Vein on the southern part of La Cigarra resource is to be drill tested.
  • Azure Minerals Ltd. updated on work being done at its Oposura project in Sonora. Drilling along strike of an outcrop carrying up to 59.6% Pb+Zn on the West Zone intersected high grade mineralization over an area of 400 x 400 m. Some of the best combined Pb + Zn intercepts returned 2.4 m @ 15.5%. 7.4 m @ 15.9%, 2.8 m @ 19.0%, 3.7 m @ 15.6%, 3.5 m @ 13.2%, 4.6 m @ 15.0%. To date drilling in the West Zone has comprised 64 holes for 4,936 m, with assay results received for 26 drill holes.

ON MINING

  • Primero Mining Corp. reported financial and operating results for 4Q and full year 2017. Primero commenced a strategic review process that resulted in the sale of the Cerro del Gallo project (Guanajuato) in November 2017, and the entering into an arrangement agreement whereby First Majestic will acquire all issued and outstanding common shares of Primero. At San Dimas in Durango, 21,076 Oz Au and 1.32 M Oz Ag were produced during the fourth quarter. For full year 2017, San Dimas produced 111,376 Oz Au, 3.96 M Oz Ag. A strike at San Dimas in early 2017 stopped work for more than two months, significantly impacting yearly production levels.
  • Excellon Resources Inc. reported financial results for the fourth quarter and full year 2017. During the fourth quarter the Platosa mine in Durango produced 16.1 K tonnes, processing 18 K tonnes @ 424 g/t Ag, 3.8% Pb, 5.8% Zn, with recoveries of 90.3% Ag, 80.0% Pb, 82.2% Zn, to produce 206.4 K Oz Ag, 1.17 M Lb Pb, 1.67 M Lb Zn. For the year 57.2 K tonnes were produced, while milling 55.6 K tonnes @ 456 g/t Ag, 4.4% Pb, 5.7% Zn, with recoveries of 90.5% Ag, 82.1% Pb, 80.1% Zn, producing 668 K Oz Ag, 4.09 M Lb Pb, 4.60 M Lb Zn. During 2017 the optimization plan was completed at the Platosa mine, resulting in dry mining conditions that increased production and lowered the costs. Total cash cost per Ag Oz decreased to $10.38, with an AISC of $21.89. All in sustaining cost was $15.84 per Ag Oz for the fourth quarter and $21.89 per Ag Oz for the year.
  • Santacruz Silver Mining Ltd. informed that expansion of milling capacity at its Veta Grande project to 750 tpd (tonnes per day) has been completed. The mill is currently operating at 450 tpd, and full capacity operations are expected to be achieved early in the second quarter 2018. Santacruz now will focus in the consolidation of underground operations.
  • Sierra Metals Inc. reported fourth quarter and year end 2017 financial results, without separating figures for its operations in Mexico. Production at Bolivar is expected to reach 3,000 tpd in Q1 2018 and 3,500 tpd in the second half of 2018. An update in resources is expected in the coming months. At Cusi production is being ramped up to the 650 tpd Mal Paso mill capacity by Q2 2018. The installation of another mill is expected to take production to 1,200 tpd by 2019. At the end of the period the company had 23.9 M in cash and cash equivalents.

ON FINANCING

  • Evrim Resources Corp. received $3.06 M from the exercise of common share purchase warrants, representing 98% of the warrants issue dated December 16, 2015. As a result, Evrim’s current cash position approximates $5.5 M (Cerro Cascaron, Chihuahua).

ON RESOURCES AND DEVELOPMENT

  • Americas Silver Corp. provided an update on the mineral resource estimate at the San Felipe project in Sonora (optioned from Hochschild in early 2017). Of 342 holed drilled by four companies since 1998, 294 are within La Ventana, San Felipe, Transversales and Las Lamas deposits which host the current resource. The new resource contains 4,685 K tonnes @ 5.4% Zn, 2.5% Pb, 61 g/t Ag in the indicated category and 2,008 K tonnes @ 3.6% Zn, 1.4% Pb, 48 g/t Ag in the inferred category. These resources host 560 M Lb Zn, 256 M Lb Pb, 9.1 M Oz Ag; 158 M Lb Zn, 63 M Lb Pb, 3.1 M Oz Ag respectively.
  • Almaden Minerals Ltd. updated on work related to the feasibility study (FS) at the Ixtaca project in Puebla. Work underway includes a resource model update, metallurgy testwork, engineering design, optimization studies, work to move the Rock Creek processing plant to Ixtaca, construction planning, geotechnical site investigation and water management studies. Almaden is also preparing an environmental impact assessment study (Manifiesto de Impacto Ambiental, or MIA) for Ixtaca.

ON DEALS AND CORPORATE ISSUES

  • Alio Gold Inc. and Rye Patch Corp. entered on an arrangement under which Alio Gold (San Francisco, Sonora; Ana Paula, Guerrero) is to acquire all the outstanding shares of Rye Patch (Florida Canyon, Nevada; Lincoln Hill, Nevada). The offer values Rye Patch outstanding equity at C$128 M. The transaction is expected to close on or about May 25, 2018.
  • Bacanora Minerals Ltd. announced that the proposed timetable for the proposed Re-domicile has been changed to 26 March 2018.
  • Sonoro Metals Corp. executed a formal option agreement with a Tucson, Arizona resident to acquire a 100% interest in the 403.5 ha Rosario group of concessions, adjacent to its Cerro Caliche property in Sonora, thus increasing the land holdings of the project to 1,455 ha. The option agreement entails a total consideration to the vendor of US$1.6 M, payable in escalating cash installments over 72 months, and a 2% NSR which can be bought for US$1 M for each percentage point. The initial US$60 K was paid on execution. Total drilling in the two properties before 2008 is 10,118 m in 101 holes.

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