The Mining and Exploration News in Mexico: Highlights on the Second Week of January, 2021.

Sodic Alteration

By Miguel A Heredia

During the second week of the year (January 11th to January 17th, 2021), at least 31 press releases were announced by companies working in Mexico and 6 news published by the media, with eleven informing on exploration results, eight communicating production and financial results, five reporting on resources and development of their mine operations, five disclosing deals and corporate issues, three commenting on Mexican issues, three discussing social issues, and two announcing financial rounds.  ON MEXICO ISSUES, A deputy of the Morena party presented an initiative to increase taxes on mining companies that carry out exploration, exploitation and sales of gold, silver and copper. The Santa Barbara mining company plans to employ 300 people in the first five months of 2021. The Second Chamber of the Supreme Court of Justice of the Nation (SCJN) declared that the Mining Law is not unconstitutional because it does not provide for a citizen consultation with indigenous peoples, as considered by the Maseual people, of the northern sierra of Puebla. ON EXPLORATION, In Sonora, Colibri recommenced the trenching program at its Evelyn project, Riverside presented drill results from the first four holes collared at the Cuarentas project and provided a brief outlook on its goals and objectives for 2021, and Tarachi provided a review of 2020 and outlook for 2021. In Chihuahua, Kootenay reported on 2020 milestones achieved at its Columba and La Cigarra properties and discussed plans for 2021.  In Sinaloa, Vizsla released drill results from two holes collared at its Panuco project, Mithril announced resumption of exploration activities at its Cometa project in the Copalquin mining district, and Kootenay reported on 2020 milestones achieved at its Copalito project. In Durango, Canasil outlined potential for significant high grade mineralization at its Nora property after reviewing results from six drill holes collared at the property. In Zacatecas, Advance Gold plans to drill below a high grade intersection at its Tabasqueña property, Alien and its JV partner Capstone are to commence a 2,500m drilling program at its Donovan project, and Canasil resumed drilling at its Esperanza project.  ON MINING, Aura announced operational and financial guidance for the year 2021 for its Aranzazu mine in Zacatecas. Equinox reported 2020 production results from its Los Filos mine in Guerrero. Excellon announced Q4, and full year 2020 production results from its Platosa mine in Durango. GoGold reported Q4, 2020 production results from its Parral tailings project in Chihuahua. Golden Minerals announced it begun gold production from its Rodeo project in Durango. Great Panther reported Q4, 2020 production results from its Topia mine in Durango and Guanajuato Mine Complex in Guanajuato. Telson reported Q4, 2020 production results from its Campo Morado mine in Guerrero. Torex provided a 2021 operational guidance for its El Limon-Guajes mine complex in Guerrero. ON FINANCING, Mammoth announced non brokered private placement for up to $600K (Tenoriba project, Chihuahua). Prime Mining made a payment to Vista Gold as per the terms of the acquisition of the Los Reyes property in Sinaloa.  ON RESOURCES AND DEVELOPMENT, Avino reported an updated mineral resource estimate for its Avino mine in Durango. Capitan Mining released results from five holes collared at its Peñoles property in Durango. Orla increased the gold mineral reserves by 54% with updated FS at its Camino Rojo project in Zacatecas. Torex announced that the release of the Morelos Technical Report including the Media Luna FS has been rescheduled from mid-2021 to Q1, 2022. SilverCrest announced in-fill drill results from the Babicanora area for the FS resource estimation for its Las Chispas project in Sonora.   ON DEALS AND CORPORATE ISSUES, Golden Minerals regained full compliance with the New York Stock Exchange (NYSE) (Rodeo property, Durango). Orogen appointed its new VP of Exploration (Ermitaño property, Sonora). Reyna Silver granted stock options to consultants of the company (Guigui project, Chihuahua). VanGold engaged Behre Dolbear for a PEA study on El Cubo mine purchase. Magna Gold clarified certain technical disclosure in respect of the company´s Mercedes project in Sonora. Kootenay reported on 2020 milestones achieved at its Cervantes project in Sonora.  ON SOCIAL RESPONSIBILITY, Minera Cuzcatlán (Fortuna Silver) delivered 2,400 pantries to families belonging to the Municipality of San Jose del Progreso, Oaxaca. Fresnillo plc has been a fundamental ally of the communities in which it operates. Peñoles sponsored 754 students from Torreón, Coahuila in First Robotic 2021 to promote the interest of young people in science and technology.

ON MEXICO ISSUES

  • A deputy of the Morena party presented an initiative in the chamber of deputies to increase taxes on mining companies that carry out exploration, exploitation and sales of gold, silver and copper. In his initiative, the deputy Iran Santiago Manuel proposes to replace the collection of fees that are made to the mining companies based on the allocations they have for each hectare or fraction concessioned or assigned per semester; and now seeks that “the holders of mining concessions and allotments will pay annually, for mining rights, 5% on the sale of the main mineral and secondary minerals, and in the case of gold, copper and silver, 8%”.
  • The Santa Barbara mining company plans to employ 300 people in the first five months of 2021. To date, the company has a workforce of 1,300 workers, of which 940 are unionized and the rest are trusted personnel and a third party.
  • The Second Chamber of the Supreme Court of Justice of the Nation (SCJN) declared that the Mining Law is not unconstitutional because it does not provide for a citizen consultation with indigenous peoples, as considered by the Maseual people, of the northern sierra of Puebla. Thus, the SCJN denied the protection requested by the residents, who want to be consulted before any mining activity takes place in their territories.

ON EXPLORATION

  • Colibri Resource Corporation recommenced the trenching program at its Evelyn project. To date, a total of 230 samples have been collected and analyzed to explore for vein continuity under alluvial cover as well as to determine and confirm structural and vein orientations. The company also announced that in December it applied for a new permit to complete a second phase trenching program and is expected to receive it within the next six weeks.
  • Riverside Resources Inc., presented drill results from the first four holes collared at the Cuarentas project. The best drill intercept was encountered in hole LC20-001 with 1.04 g/t Au, 58 g/t Ag, 0.2% Pb, and 0.3% Zn over 3.44m, including 1.8 g/t Au, 82 g/t Ag, 0.4% Pb, and 0.6% Zn over 1.4m. “Drilling results suggest some displacement has occurred between the high grade surface sampling of old mining areas and the at depth drill intersections”. The company also provided a brief outlook on its goals and objectives for 2021. At Cecilia project in Sonora, Riverside is currently underway for an initial drill program to commence to test a couple of the ten high priority drill targets defined previously. At the BHP program, the company has developed a strong portfolio of prospective projects and will be focused on discovering large copper deposits in Sonora. At the Cuarentas project, Riverside will complete interpretation of the recent completed drill program and will refine regional property-wide targets.
  • Tarachi Gold Corp., provided a recap of 2020 and outlook for 2021. Tarachi closed two private placement totalling CAD $11M to continue exploring on the Tarachi claims, advancing Magistral and pursuing additional projects in Mexico. At Tarachi project in Sonora, the company signed two option agreements to acquire 3,708 ha and commenced a 5,000m drill program completing 1,711.20m. A significant drill intercept was encountered at Tarachi Sur with 5.05 g/t Au over 20.75m, and at La Dura with 4.54 g/t Au over 21m. Assays are still pending for ten drill holes completed in last December. The company also signed a LOI with Manto Resources for the acquisition of the Magistral mill and tailings project in Durango. Plans for the new year are receive pending drill assays from the La Dura and Tarachi targets, complete the 5,000m drilling program, , closing the purchase of the Magistral property, and initiate sampling of the tailings for metallurgical testing and initiate a PEA.
  • Kootenay  Silver Inc., reported on 2020 milestones achieved at its Columba and La Cigarra properties and plans for 2021. At Columba, the company initiated and completed the second drill program totaling 9,114m in 43 holes. Drill highlights include hole CDH-20-045 with 974 g/t Ag over 0.5m; CDH-20-046 with 1,585 g/t Ag over 0.6m and 911 g/t Ag over 1.4m; hole CDH-20-049 with 762 g/t Ag over 2.8m, including 2,010 g/t Ag over 1m; hole CDH-20-51 with 865 g/t Ag over 2m; hole CDH-20-60 with 361 g/t Ag over 11m, including 608 g/t Ag over 5m, including 1,160 g/t Ag over 1m; hole CDH-20-066 with 773 g/t Ag over 1.5m. Significant drilling is planned for 2021 at Columba project for the company.  At La Cigarra, the company initiated the re-logging of drill core to create a new geological model which is expected to be completed in 2021. The objective is to optimize the resource and advance it to a PEA study.
  • Vizsla Resources Corp., released drill results from two holes collared at the Tajitos Vein zone within its Panuco project. The best drill intercept was encountered in hole CS-20-06 with 536 g/t Ag and 4.35 g/t Au (910 g/t AgEq) over 13.5m, including 947 g/t Ag and 7.68 g/t Au (1,607 g/t AgEq) over 7.55m, including 1,870 g/t Ag an 15 g/t Au (3,157 g/t AgEq) over 1.5m.
  • Mithril Resources Ltd., announced resumption of exploration activities at its Cometa project in the Copalquin mining district. The company has commenced a soil and mapping program at El Refugio West to cover La Soledad West, El Indio and Zaragoza prospects. Additionally, three deeper holes are planned at El Refugio to test extensions of higher Au-Ag grades and greater width to the breccia zone.
  • Kootenay Silver Inc., reported on 2020 milestones achieved at its Copalito project in Sinaloa. The company completed the first drill program to ever be conducted on the property totalling 4,100m in 40 holes. Drill highlights include hole BDH-20-001 with 369 g/t AgEq; 250 g/t Ag and 0.247 g/t Au over 5.0m; 360 g/t Ag and 0.1 g/t Au over 1.0m within 272 g/t AgEq; BDH-20-002 with 179 g/t AgEq ; 1.69 g/t Au over 4.3m and 274.8 g/t AgEq; 3.02 g/t Au over 1.7m; BDH-20-004 with 1,323 g/t AgEq; 1,297 g/t Ag and 0.285 g/t Au over 3.2m; BDH-20-009 with 1,047 g/t AgEq.; 936 g/t Ag, 0.29 g/t Au and 3.31% combined Pb + Zn combined over 1.0m; BDH-20-015 with 394 g/t AgEq; 51 g/t Ag, 2.28 g/t Au, 6.18 % combined Pb + Zn over 1.2m; BDH-20-033 with 1,210 g/t AgEq; 59 g/t Ag, 7.05 g/t Au, 13.55 % combined Pb +Zn over 0.2m; and BDH-20-037 with 1,261 g/t AgEq over 1.0m consisting of 846 g/t Ag, 3.11 g/t Au and 6.15% combined Pb + Zn. Significant drilling is planned for 2021 at Copalito project for the company.
  • Canasil Resources Inc., announced that exists potential for significant high grade mineralization at its Nora property after reviewing results from eight drill holes collared along 500m of the 3km traced strike of the Candy vein. The high grades Au and Ag obtained during the first drilling phase warrant a phase 2 follow up program. The most relevant drill results was obtained in hole-20-06 with thee significant drill intercepts: 11.86 g/t Au and 378 g/t Ag (1,238 g/t AgEq) over a true width (TW) of 1.49m, including  2,033 g/t AgEq over a TW of 1m, and 3,671 g/t AgEq over a TW of 0.50m (Candy vein); 4.78 g/t Au and 351 g/t Ag (698 g/t AgEq) over a TW of 2.40m, including 1,101 g/t AgEq over a TW of 1.15m, and 1,692 g/t AgEq over a TW of 0.45m (Candy hanging wall vein); and  26.1 g/t Au and 284 g/t Ag (2,176 g/t AgEq) over a TW of 0.26m (Candy footwall vein). Additionally, a review of 1,200 soil samples collected over a grid of 3km by 2km outlined multiple multi element anomalies pointing to a strong mineralizing system with multiple exploration targets with potential to host high-grade and disseminated silver-gold-copper-lead and zinc mineralization.
  • Advance Gold Corp., commenced to drill below a previous announced high grade intersection which returned 9.46 g/t Au over 1.70m wide. Advance is drill testing a 3,500m long high chargeability IP anomaly within a 2km by 400m corridor which contains a swarm of epithermal veins at its Tabasqueña property in Zacatecas.
  • Alien Metals Ltd., announced that its JV partner Capstone Mining Corp., is to commence a 2,500m drilling program at its Donovan project in Zacatecas. Drill location will be finalized following interpretation of the IP survey conducted in late-2020 by Capstone.
  • Canasil Resources Inc., resumed drilling at its Esperanza project located in Zacatecas-Durango states. Hole ES-21-23 is in progress and was designed to test extensions of the Esperanza structure along strike and to depth.

ON MINING

  • Aura Minerals Inc., provided operational and financial guidance for the year 2021 for its Aranzazu mine in Zacatecas. The company estimates to produce between 81K to 93K Oz AuEq at a cash cost of USD $615-725 per Oz AuEq. Aura is also planning to drill more than 48,900m of drilling to support the next expansion in line with management’s goal of doubling production capacity in the future.
  • Equinox Gold Corp., reported that during 2020 it produced 58,500 Oz Au from its Los Filos mine in Guerrero, after completing the merger with Leagold in March 10, 2020.
  • Excellon Resources Inc., announced Q4, and full year 2020 production results from its Platosa mine in Durango. In Q4, 2020 Excellon mined 21,455 tonnes and processed 22,626 tonnes of 536 g/t Ag, 5.4% Pb, and 6.12% Zn with metallurgical recoveries of 91.2%, 82.9%, and 80.1% respectively, to produce 355.6K Oz Ag, 2.22M Lb Pb, and 2.45M Lb Zn (556.3M Oz AgEq). During the full year, the company mined 66,501 tonnes and processed 65,567 tonnes of 519 g/t Ag, 5.37% Pb, and 6.57% Zn with metallurgical recoveries of 91.4%, 83.7%, and 78.9% respectively, to produce 997.7K Oz Ag, 6.47M Lb Pb, and 7.49M Lb Zn.
  • GoGold Resources Inc., reported Q4, 2020 production results from its Parral Tailings project in Chihuahua. GoGold produced 298.6K Oz Ag, 3,632 Oz Au, and 275.6K Lb Cu (614.15K Oz AgEq). It allows the company increase its cash balance from USD $53M at September 30, 2020 to USD $56M at December 31, 2020.
  • Golden Minerals Company announced it begun gold production from its Rodeo project in Durango. The company shipped the first loads to its Velardeña Mill and expects a first pour of gold-silver doré bars within two weeks.
  • Great Panther Mining Limited reported Q4 and full year 2020 production results from its Topia mine in Durango and Guanajuato Mine Complex in Guanajuato. At Topia, Durango, the company processed 9,959 tonnes of 337 g/t Ag, 0.81 g/t Au with metallurgical recoveries of 90% and 48.7% respectively to produce 97.3K Oz Ag, 127 Oz Au, 467.4K Lb Pb648.16K Lb Zn (179.6K Oz AgEq or 1,996 Oz AuEq). At Guanajuato Mine Complex, Great panther processed 39,539 tonnes of 117 g/t Ag and 1.46 g/t Au with metallurgical recoveries of 85.9% and 84.3% respectively to produce 128.2K Oz Ag and 1,559 Oz Au (268.5K Oz AgEq or 2,984 Oz AuEq).
  • Telson Mining Corporation reported Q4, 2020 production results from its Campo Morado mine in Guerrero. The company milled 168,311 tonnes of 1.01 g/t Au, 108 g/t Ag, 0.32% Cu, 0.98% Pb, and 3.86% Zn to produce 9,974 tonnes of Zn concentrate and 1,916 tonnes of Pb concentrate for 9.95M Lb Zn and 961.2K Lb Pb contained. Telson reported total revenues of USD $8.77M.
  • Torex Gold Resources Inc., provided a 2021 operational guidance for its El Limon-Guajes mine complex in Guerrero. Torex estimates to produce 430K-470K Oz Au in 2021, at cash and AISC of USD $680-720 and USD $920-970 per Oz Au respectively.

ON FINANCING

  • Mammoth Resources Corp., announced a non brokered private placement for proceeds of up to $600K (Tenoriba project, Chihuahua).Proceeds will be used to fund the review of the Tenoriba project by a PhD geologist, fund the 3D modeling and combined historical IP-mag geophysical,  surface and drill data, an infill IP/mag geophysical survey on the 60% of the mineralized area on the project not covered by the historical survey, and perform some confirmation mapping and sampling to select drill targets as part of its 50-hole, 7,500 meters drill program.
  • Prime Mining Corp., made a payment of USD $1.1M to Vista Gold as per the terms of the acquisition of the Los Reyes property in Sinaloa. Prime agreed to pay Vista USD $2.1M in lieu of being granted certain royalties and back-in rights relating to the project. The remaining USD $1.0M payment is due during July 2021.

ON RESOURCES AND DEVELOPMENT

  • Avino Silver & Gold Mines Ltd., announced an increase of 60% in measured and indicated mineral resources for its Avino mine in Durango. To date,  the Avino deposit has measured and indicated resources of 20.25M tonnes of 69 g/t Ag, 0.67 g/t Au, 0.41% Cu (117 g/t AgEq) to contain 44.9M Oz Ag, 436K Oz Au, 182.98M Lb Cu (75.9M Oz AgEq), and inferred resources of  6.545M tonnes of 59 g/t Ag, 0.61 g/t Au, 0.27% Cu (103 g/t AgEq) to contain 12.5M Oz Ag, 129K Oz Au, and 39M Lb Cu (21.8M Oz AgEq).
  • Capitan Mining Inc., released results from five holes collared at its Peñoles property in Durango. Significant drill intersects were encountered in hole 20-CARC-11 with 0.94 g/t Au over 57.9m, including 2.04 g/t Au over 18.3m, and hole 20-CARC-13 with 0.42 g/t Au over 100.6m, including 0.67 g/t Au over 21.3m. “New drilling has confirmed that Capitan Hill gold mineralization continues along strike to the east, over 250 m beyond the 2015 43-101 resource and remains open to expansion to the east, west and down-dip”.
  • Orla Mining Ltd., increased the gold mineral reserves by 54% with updated Feasibility Study (FS) at its Camino Rojo project in Zacatecas. The new mineral reserve estimate includes proven and probable mineral reserves of 67.4M tonnes at grades of 0.73 g/t Au and 14.5 g/t Ag for a total of 1.59M Oz Au and 31.5M Oz Ag contained. Measured and Indicated resources are 353.4M tonnes at grades of 0.83 g/t Au and 9 g/t Ag for a total of 9.46M Oz Au and 100.4M Oz Ag contained. Inferred resources are 60.9M tones at grades of 0.87 g/t Au and 7.4 g/t Au for a total of 1.7M Oz Au and 14.5M Oz Ag contained. Mineral resources are inclusive of mineral reserves. Highlights of the FS are a throughput rate of 18,000 tonnes per day for an average annual gold production of 94K Oz , a mine life of 10.4 years, an initial Capex of USD $134M, a total cash cost of USD $490 per Oz Au, an AISC of USD $543 per Oz Au, a after tax NVP (5% discount rate) of USD $452M and an after tax IRR of USD $62%.
  • Torex Gold Resources Inc., announced that the release of the Morelos Technical Report including the Media Luna FS has been rescheduled from mid-2021 to Q1, 2022. 
  • SilverCrest Metals Inc., announced in-fill drill results from the Babicanora area for the FS resource estimation for its Las Chispas project in Sonora. The best drill intercepts were encountered in hole BA19-304 with 38.06 g/t Au and 4,214 g/t Ag (7,068 g/t AgEq) over 2.4m on Babi Main; hole BA19-215 with 96.53 g/t Au and 2,899 g/t Ag (10,139 g/t AgEq) over 2m on Babi footwall; hole BA19-303 with 90.57 g/t Au and 75 g/t Ag (6,868 g/t AgEq) over 0.4m on Babi hanging wall; and hole BA20-156 with 72.22 g/t Au and 161 g/t Ag (5,577 g/t AgEq) over 1.8m on Babi Sur. Drill results have a expanded Babi Main 700m along strike, Babi footwall 100m along strike, and Babi hanging wall 100m along strike. A composite assays has been estimated by SilverCrest for each structure. Babi Main has a weighted average grade of 7.54 g/t Au and 713 g/t Ag (1,238 g/t AgEq) over a, average true width (TW) of 2.7m: Babi footwall has 9.04 g/t Au and 748 g/t Ag (1,431 g/t AgEq) over a TW of 1m; Babi hanging wall has 3.9 g/t Au and 207 g/t Ag (460 g/t AgEq) over a TW of 0.7m; and Babi Sur has 9.38 g/t Au and 436 g/t Ag (1,139 g/t AgEq) over a TW of 1.5m.

ON DEALS AND CORPORATE ISSUES

  • Golden Minerals Company regained full compliance with the New York Stock Exchange (NYSE) by meeting the requirements of the USD $50M market capitalization exemption in section 1003(a) of the company guide from the stockholder´s equity requirement (Rodeo property, Durango).
  • Orogen Royalties Inc., appointed its new VP of Exploration (Ermitaño property, Sonora).
  • Reyna Silver Corp., granted stock options to consultants of the company for the purchase of an aggregate of 502.4K common shares. Each option is exercisable at $1.03 per share and expire five years from the date of grant or as per service agreement with consultant (Guigui project, Chihuahua).
  • VanGold Mining Corp., engaged Behre Dolbear to provide a PEA study in relation to its purchase of the El Cubo mine and mill complex located 8km northeast of the company´s Pinguico property in Guanajuato. The PEA is expected to be completed by early February 2021.
  • Magna Gold Corp., clarified certain technical disclosure in respect of the company´s Mercedes project in Sonora.  Magna has updated the corporate presentation and can be consulted on its website.
  • Kootenay Silver Inc., reported on 2020 milestone achieved at its Cervantes project in Sonora. The company completed a JV agreement with Aztec Minerals Corp. To date, Aztec has completed the earn-in to acquire 65% interest in Cervantes project with Kootenay retaining the remaining 35%.

ON SOCIAL RESPONSIBILITY

  • Minera Cuzcatlán (Fortuna Silver Mines Inc.), delivered 2,400 pantries to families belonging to the Municipality of San Jose del Progreso, Oaxaca, as well as the Los Vásquez, Santa Cecilia, Los Patiños, El Jagüey, El Cuajilote, El Porvenir, Maguey Largo and La Garzona agencies.
  • Fresnillo plc has been a fundamental ally of the communities in which it operates, deploying a team of professionals to carry out initiatives that seek the care of its collaborators, their families and the population in general. The company has donated specialized equipment, personal protective equipment, ventilators, and medicine to the IMSS hospitals in Caborca, Sonora, Hidalgo del Parral and Guadalupe y Calvo, Chihuahua, Fresnillo, Zacatecas and Durango and La Ciénega, Durango.
  • Industrias Peñoles S.A.B. de C.V., sponsored 754 high school students belonging to 23 educational institutions from Coahuila Durango, Zacatecas, Sonora, Chihuahua, Guerrero, Oaxaca and the State of Mexico in First Robotic 2021 to promote the interest of young people in science and technology.

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, sodic alteration in an intrusive in a prospect in Coahuila, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the First Week of January, 2021

By Jorge Cirett

During the 1st week of the year (January 4th to January 10th, 2020), at least 27 press releases were announced by companies working in Mexico. To note, four companies posted exploration advances on their properties, and six more posted news on resources and development. Sierra Metals Corp’s Cusi and Bolivar mines are up for grabs. ON MEXICO ISSUES, a reduction of mineral production is expected for 2020 due to the effects of the Covid-19 pandemic. Camimex pointed on the lack of clarity on the distribution of the mining royalties. At least six companies plan to start mining operations in this year. ON EXPLORATION, in Sonora, Aztec Minerals updated its exploration status at Cervantes; Mojave Gold updated on exploration at its Sonora Gold project, where at least two structures tens of meters in width run for kilometers; Canuc Resources is using results from a magnetic survey for targeting. In Chihuahua, Mammoth Resources has received the permit for drilling at Tenoriba.  ON MINING, Endeavour Silver, Aura Minerals and Torex Gold presented Q4 2020 production results. Mexus Gold US continues to stack ore at its Santa Elena mine. Sierra Metals presented a PEA that doubles the processing capacity at its Cusi mine. ON FINANCING, Ridgestone Mining increased its private placement to $2.32 M. SilverCrest Metals entered into a credit agreement for US$76.5 M. Fabled Silver and Silver Wolf Exploration granted stock options. Silver Dollar Resources made a clarification requested by the OTC Market. ON RESOURCES AND DEVELOPMENT, GR Silver Mining reported good drilling results at the Plomosas mine, in the Plomosas project, Sinaloa. Sonoro Gold reported drilling results from Cerro Caliche, Sonora. Discovery Metals released drilling results from two vein trends at Cordero, Chihuahua. Prime Mining updated on exploration at Los Reyes, Sinaloa. Fabled Silver Gold informed on surface sampling at Santa María, Chihuahua. GoGold released results from drilling at El Favor, on its Los Ricos North project, Jalisco. ON DEALS AND CORPORATE ISSUES, Argonaut Gold and AP Mining have amended the agreement for the previously announced sale of the Ana Paula project to AP Mining. Minaurum Gold entered into an option agreement with Fortuna Silver on the Taviche property in Oaxaca, agreement by which Fortuna can gain up to 80% interest on the project. Sierra Metals is evaluating the sale of its assets, a merger or business combination. ON SOCIAL RESPONSIBILITY, Fresnillo, the Chihuahua Mining Cluster and Grupo Mexico informed on actions that benefit society.

ON MEXICO ISSUES

  • Camimex (Camara minera de México) sees the mining production to decrease in 2020 due to the pandemic. The decrease is expected to reach 10% for gold, 6 to 6.3% for silver and lead, 3% for copper and 25% for iron.
  • Camimex pointed on the lack of clarity on the distribution of the mining royalties. According to the previous rules the resources funded infrastructure on communities across mining regions. After de federal government changed the rules, it is not clear now how these resources are distributed. Mining companies paid US$196 M (3,990 million pesos) in royalties in 2019.
  • Companies aspiring to start new mines in 2021 include: Mag Silver (Juanicipio, Zacatecas), Orla Mining (Camino Rojo, Zacatecas), Minera Alamos (Santa, Sonora), Golden Minerals (Rodeo, Durango), VanGold Mining (Pinguico and El Cubo, Guanajuato), Sonora Gold (Cerro Caliche, Sonora) and Candelaria Mining (Pinos, Zacatecas).

ON EXPLORATION

  • Aztec Minerals Corp. informed that during 2020 formed a 65/35 joint venture with Kootenay Silver on the Cervantes project, Sonora. Also during the year an additional IP-resistivity survey was performed to define new targets; geological mapping, geochemical sampling and geophysical surveying have identified 11 targets in total, of which 7 are in preparation for drilling. Aztec intends to extend detailed geologic, structural, and alteration mapping and sampling at the Purisima West, Estrella, Jacobo, Brazil, and other targets at Cervantes, and plan and permit a phase 1 reverse circulation drilling program on the California and Purisima targets.
  • Mojave Gold Corp. updated on work done during December of 2020 at its Sonora Gold project in Sonora. A 261 sample stream sediment survey was carried out in the 6,000 hectares property, and detailed geological mapping and rock chip sampling was carried out on the Caracahui and Sonora Cooper areas, including underground mapping on the latter. The Sonora Cooper West/Las Llantas structure has been observed to be over 3 km in length, reaching widths of over 70 m. “In total, mineralized structures in the western part of the project area have been observed to extend more than 8.5 kilometers in cumulative length…. The Sonora Cooper mineralized area contains large structures often reaching over 70m in width, that were mapped in detail for over 500m along strike. Additionally, detailed underground mapping was completed over 605m length in the Sonora Cooper adit and over a 260m length of the Guadalupe adit. A total of 160 rock chip samples were collected from the underground workings”.
  • Mammoth Resources Corp. announced SEMARNAT (Mexican environmental agency) has approved the drill permit application on its Tenoriba property in Chihuahua. Mammoth is planning to start a drilling campaign before the end of the first quarter.
  • Canuc Resources Corp. received results from a drone supported magnetic survey at its San Javier project in Sonora. Three large magnetic high features (1,000 by 600 m, 800 by 600 m, 600 by 600m) were identified. “Detailed processing of the data suggests that there are stronger magnetic features within the larger target areas which may represent areas of higher-grade mineralization. Canuc is now carrying out detailed ground magnetic surveys on these targets and is scheduled to begin drilling in the next few weeks”.

ON MINING

  • Mexus Gold US. released an update of mining operations at its Santa Elena mine in Sonora (not to mistake for First Majestic’s Santa Elena mine, also in Sonora). The company is stacking material from a shear zone grading 0.9 gpt to 1.2 gpt Au.
  • Sierra Metals Inc. filed a NI 43-101 independent technical report for a doubling of output at its Cusi mine in Chihuahua. The preliminary economic assessment (PEA) highlights include an after tax Net Present Value (NPV) of US$81 M at an 8% discount rate, at a long term silver price of US$20/Oz. The project envisages increasing the production from 1,200 tonnes per day (tpd) to 2,400 tpd @ 127.2 gpt Ag, 0.12 gpt Au, 0.48% Zn, 0.34% Pb, with a 13 year mine life and recoverable 33.4 M Oz Ag.
  • Endeavour Silver Corp. reported the highest quarterly production in the last two years from its mines in Mexico. Total production in the quarter was 237.4 K tonnes mined at a rate of 2,580 tpd @ 169 gpt Ag, 1.90 gpt Au, recovering 86.8% Ag, 87% Au, to produce 1.12 M Oz Ag, 12,586 Oz Au.
  • Torex Gold Resources Inc. reported Q4 production for 2020. At its Limon-Guajes mine in Guerrero, 12,560 tpd were processed, with 1,300 tpd mined from underground and 18,360 tpd mined from open pit with a waste to ore strip ratio of 6.2, to produce 130,640 Oz Au in the quarter. In the year, 11,370 tpd were processed to produce 430,480 Oz Au.
  • Aura Minerals Inc. released preliminary production reports for the fourth quarter of 2020. In the period the Aranzazu mine in Zacatecas produced 19,073 Oz AuEq, which added up to the 65,497 Oz AuEq for the full year. During December 89.1 K tonnes were processed, and the company intends to increase processing to 100 K tonnes per month during the second half of 2021.

ON FINANCING

  • SilverCrest Metals Inc. entered into a credit agreement with an affiliate of RK Mine Finance to provide a secured project financing facility for a total of US$120 M for funding the construction at Las Chispas, Sonora. Concurrently SilverCrest has entered into a fixed price engineering, procurement and construction contract with Ausenco Engineering Canada Inc. with a lump sum turnkey price of US$76.5 M that is to include construction of a 1,250 tonne per day process plant at Las Chispas.
  • Fabled Silver Gold Corp. granted 200,000 stock options to a consultant of the company (Santa María, Chihuahua).
  • Silver Dollar Resources Inc. was requested by the OTC Markets Group Inc. to issue a statement about promotional activity concerning its common stock. OTC Markets questioned about “two promotional newsletter emails published by CrushTheStreet.com (“CTS”) and Wealth Research Group (“WRG”) discussing the emerging bull market for commodities, particularly silver, and citing the Company in both publications… The Company has been advised by OTC Markets that OTC Markets takes the position that aspects of the statements were overly promotional. The Company wishes to caution readers that these statements are speculative in nature” (La Joya, Durango).  
  • Silver Wolf Exploration Ltd. granted incentive stock options for the purchase of 1 M shares to directors, officers, consultants, and employees of the Company (Ana María and Laberinto, Durango).
  • Ridgestone Mining Inc. increased the previously announced private placement from $1.9 M to $2.32 M, for additional gross proceeds of $420 K (Rebeico, Sonora).

ON RESOURCES AND DEVELOPMENT

  • GR Silver Mining Ltd. reported good underground drilling results from the Plomosas mine area at its Plomosas project in Sinaloa. “The mineralization is represented by thick intercepts of Au-Ag-Pb-Zn-Cu mineralization hosted in a series of hydrothermal breccias”.  The highlighted results comprise 83 m @ 2.52 gpt Au, 33 gpt Ag, 0.9% Pb, 2.9% Zn, 0.3% Cu (420 gpt AgEq), including 4.0 m @ 9.35 gpt Au, 38 gpt Ag, 0.4% Pb, 10.5% Zn, 0.3% Cu (1,319 gpt AgEq) and 11.0 m @ 9.41 gpt Au, 135 gpt Ag, 5.7% Pb, 9.8% Zn, 0.5% Cu (1,596 gpt AgEq).  
  • Sonoro Gold Corp. reported favourable results from eight reverse circulation drill holes at its Cerro Caliche project in Sonora. At the Buena Suerte target, highlighted intercepts comprise 3.0 m @ 1.48 gpt Au; 7.6 m @ 1.32 gpt Au, 12.2 m @ 0.86 gpt Au; 12.2 m @ 0.69 gpt Au; 27.44 m @ 1.17 gpt Au (including 3.0 m @ 4.70 gpt Au); 12.2 m @ 0.50 gpt Au. Highlighted intercepts from the Japoneses target include 22.9 m @ 0.57 gpt Au; 10.7 m @ 0.45 gpt Au; 13.7 m @ 0.60 gpt Au; 10.7 m @ 0.40 gpt Au, 12.2 m @ 0.36 gpt Au; 4.6 m @ 0.41 gpt Au; 27.44 m @ 1.17 gpt Au; 12.2 m @ 0.50 gpt Au.
  • Discovery Metals Corp. released results from 10 diamond drill holes targeting the Parcionera and Josefina vein trends at its Cordero project in Chihuahua. Highlighted intercepts comprise 4.4 m @ 246 gpt Ag, 0.39 gpt Au, 6.5% Pb, 0.4% Zn (524 gpt AgEq); 0.5 m @ 665 gpt Ag, 0.58 gpt Au, 13.8% Pb, 13.7% Zn (1,765 gpt Ag) on the Parcionera vein trend and 3.3 m @ 196 gpt Ag, 0.17 gpt Au, 5.6% Pb, 4.9% Zn (612 gpt AgEq); 1.6 m @ 20 gpt Ag, 0.11 gpt Au, 0.3% Pb, 1.8% Zn at the Josefina vein trend.
  • Prime Mining Corp. provided a year-end update on its Los Reyes project in Sinaloa. “The ongoing work includes field mapping, trench sampling, rock alteration analysis and interpretation and re-logging of historic diamond drill core…. Re-logging of several existing diamond drill core holes also identified that adularia, a crystalline mineral, containing high-grade gold and silver locally with visible gold, is associated with nearby altered rock types. The adularia appears to be vertically zoned”. The project is a district scale low sulfidation epithermal mineralizing system on which more than US$20 million have been spent over 25 years.
  • Fabled Silver Gold Corp. completed the sampling program to evaluate the IP geophysical anomalies on the Santa María property in Chihuahua. The sampling returned silver anomalous results over two geophysical anomalies. Eleven first priority anomalies have been delineated, generally in an east-west direction.
  • GoGold Resources Inc. released drilling results from El Favor deposit at its Los Ricos North property in Jalisco. Highlighted core length results comprise 30.2 m @ 0.18 gpt Au, 63 gpt Ag (1.03 gpt AuEq), including 8.6 m @ 0.28 gpt Au, 146 gpt Ag (2.23 gpt AuEq); 5.6 m @ 0.55 gpt Au, 287 gpt Ag (4.37 gpt Au), including 1.7 m @ 1.7 gpt Au, 834 gpt Ag (12.83 gpt AuEq); 70.5 m @ 0.15 gpt Au, 50 gpt Ag (0.82 gpt AuEq), including 9.7 m @ 0.55 gpt Au, 199 gpt Ag (3.20 gpt AuEq); 15.3 m @ 0.30 gpt Au, 151 gpt Ag (2.31 gpt AuEq); 12.8 m @ 0.30 gpt Au, 126 gpt Ag (1.99 gpt AuEq), including 3.3 m @ 0.89 gpt Au, 302 gpt Ag (4.91 gpt AuEq); 41.1 m @ 0.24 gpt Au, 76 gpt Ag (1.24 gpt AuEq); 21.0 m @ 0.11 gpt Au, 74 gpt Ag (1.10 gpt AuEq); 27.0 m @ 0.97 gpt Au, 113 gpt Ag (2.47 gpt AuEq); 11.0 m @ 0.28 gpt Au, 160 gpt Ag (2.40 gpt AuEq); 52.1 m @ 0.69 gpt Au, 254 gpt Ag (4.08 gpt AuEq); 11.6 m @ 0.43 gpt Au, 148 gpt Ag; 32.5 m @ 0.32 gpt Au, 63 gpt Ag (1.15 gpt AuEq).

ON DEALS AND CORPORATE ISSUES

  • Argonaut Gold Inc. and AP Mining “have amended the agreement for the previously announced sale of the Ana Paula project to AP Mining (see press release dated September 11, 2020) to allow more time to meet the regulatory and government approvals required for closing. In connection with the amendment, AP Mining has agreed to pay an additional US$1.0 million at 15 months from the closing date and to reimburse all of Argonaut’s costs incurred associated with the Ana Paula project incurred between January 1, 2021 and the closing of the transaction. Closing continues to be subject to financing and receipt of all necessary approvals, which is expected in the first quarter of 2021” (Ana Paula, Guerrero).
  • Minaurum Gold Inc. entered into an option agreement with Fortuna Silver Mines Inc. pursuant to which Fortuna can earn up to an 80% interest in Minaurum’s Taviche silver project in Oaxaca. Fortuna can earn an initial 60% by making cash payments totalling $450 K and incurring in US$4 M in work expenditures over three years. Fortuna can earn an additional 20% interest “by funding Minaurum ‘s acquisition by way of option exercise of the remaining 20% interest”. The cash installments to make comprise US$75 K upon signing, US$100 K on the first anniversary, US$125 K on the second anniversary and US$150 K on the third anniversary. Drilling by previous operators of the project returned up to 34.12 m @ 262 gpt Ag and 8.35 m @ 2.05 gpt Au.
  • Sierra Metals Inc. announced that “its Board of Directors, supported by its management team and with the full support of Arias Resource Capital Fund L.P., Arias Resource Capital Fund II L.P. (the Company’s two largest shareholders) and Arias Resource Capital Fund II (Mexico) L.P., has commenced a process to explore and evaluate potential strategic alternatives focused on maximizing shareholder value. These alternatives could include, among other things, the sale of part or all of the Company, a sale of some of the assets of the Company, a merger or other business combination with another party, or other strategic transactions” (Cusi and Bolivar mines, Chihuahua).

ON SOCIAL RESPONSIBILITY

  • Minera Fresnillo donated computing equipment in Caborca, Sonora.
  • The Chihuahua Mining Cluster president, Pablo Mendez Alvídrez stated that the industry will aid with the acquisition of the Covid-19 vaccine, once it is on sale by pharmacies, for its distribution on mining communities.
  • The Grupo Mexico Foundation delivered a significant amount of protective equipment for health care personnel

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

On the image below: Quartz veining from a project in San Luis Potosí. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Fifth Week of December, 2020.

Hydrothermal Breccia

By Miguel A Heredia

During the fifty three week of the year (December 28th to January 03rd, 2021), at least 9 press releases were announced by companies working in Mexico and 2 news published by the media, with three announcing financial rounds, two disclosing deals and corporate issues, two reporting on resources and development of their mine operations, two commenting Mexican issues, one informing on exploration results, and one discussing social issues.  ON MEXICO ISSUES, The economic impact that the COVID-19 pandemic has left in the country has not affected mining companies they grew 50% their market value in the Mexican Stock Exchange. Four mining projects will start operations in Zacatecas in 2021.  ON EXPLORATION, In Zacatecas, Advance Gold released drill results from three holes collared at its Tabasquena project. ON MINING, no relevant information. ON FINANCING, Gold Resource declared December 2020 monthly dividend (Arista mine, Oaxaca). Mexican Gold announced a non-brokered private placement for gross proceeds of $1.4M (Las Minas project, Veracruz). Silver Dollar closed a non-brokered private placement for gross proceeds of $560K (La Joya project, Durango). ON RESOURCES AND DEVELOPMENT, McEwen presented results of a positive Feasibility Study (FS) for its 100% owned Fenix project in Sinaloa. GoGold provided an outlook for 2021 (Los Ricos project, Jalisco). ON DEALS AND CORPORATE ISSUES, Megastar announced results of its 2020 annual general meeting for shareholders (Yautepec property, Oaxaca). GR Silver and Mako amended an agreement in which the first would acquire 100% of the issued and outstanding shares of Marlin Gold Mining Ltd from Mako.  ON SOCIAL RESPONSIBILITY, Gold Resource reported a fatality at its Arista mine in Oaxaca.

ON MEXICO ISSUES

  • The economic impact that the COVID-19 pandemic has left in the country, has not affected mining companies since they grew 50% their market value in the Mexican Stock Exchange (BMV).  For comparison purposes, at the beginning of the year, the stock market value of the four largest mining companies in the country (Grupo Mexico, Industrias Peñoles, Minera Frisco and Autlan) on the BMV was MXP $524.5 billion and currently stands at around MXP $796.5 billion, according to the stock market data. The foregoing contrasts with the general mining panorama, since according to the Mexican Mining Chamber, it is estimated that investment in exploration will register an annual decrease of approximately 25%, thus reaching its worst level in 14 years. The foregoing, according to the agency, is the result of the pandemic, but also of the lack of certainty on the part of the government, higher tax burdens and delays or denial of permits, since 84 mining projects were postponed last year.
  • Four mining projects will start operations in Zacatecas in 2021:  Camino Rojo, from Orla Mining; Distrito Pinos, from Candelaria Mining, San Nicolás from Teck Resources Limited, and Juanicipio, from Grupo Peñoles.

ON EXPLORATION

  • Advance Gold Corp., released drill results from three holes collared at its Tabasquena project in Zacatecas. Significant drill intersects were encountered in hole AGT-18 with 139 g/t Ag over 4.5m, including 240 g/t Ag over 2.3m; hole AGT-19 with 172 g/t Ag over 1.45m, including 383 g(t Ag over 0.8m, and hole AGT-20 with 40 g/t Ag over 1.2m. The drill program will continue to test a 3,500m long continuous high chargeability induced polarization anomaly.

ON MINING

  • No relevant information.

ON FINANCING

  • Gold Resource Corporation, declared December 2020 monthly dividend and paid one-third of a cent per common share to shareholders (Arista mine, Oaxaca).
  • Mexican Gold Mining Corp., announced a non-brokered private placement for gross proceeds of $1.4M (Las Minas project, Veracruz).
  • Silver Dollar Resources Inc., closed a non-brokered private placement for gross proceeds of $560K. First Majestic Silver Corp., subscribed for 200,000 shares or $280,000 of the Offering Net proceeds will be used to fund exploration and development work on its projects (La Joya project, Durango).

ON RESOURCES AND DEVELOPMENT

  • McEwen Mining Inc., announced positive results of a Feasibility Study (FS) of its 100% owned Fenix project in Sinaloa. The FS envisions a 9.5 year mine life, and involves two sceneries. Scenery 1 with an after tax IRR of 28% using $1,500/ Oz Au and $17/ Oz Ag; an after tax NPV (8% discount) of $32M; an after tax payback period of 3.2 years, and an average after tax cash flow per year of full production of $12M. Scenery 2 with an after tax IRR of $55% using $1,900/Oz Au and $25/ Oz Ag; an after tax NPV (8% discount) of $98M; an after tax payback period of 2.8 years and an average after tax cash flow per year of production of $25M. The Fenix FS development involves two phases: Phase 1 (years 1-6) with an average annual gold production of 26K Oz Au, $42M initial capex, and cash and AISC costs of $1,035 and $1,042 per Oz Au produced respectively; and phase 2 (years 7-9.5) with an average annual silver production of 4.2M Oz AgEq, $24M incremental capex in year 6, and cash and AISC costs of $14.20 and $14.28 per Oz AgEq produced respectively. Measured and indicated (M+I) resources for the Fenix project are 10M tonnes of 1.6 g/t Ag and 0.59 g/t Au for a total of 518K Oz Ag and 190K Oz Au, and Inferred resources of 0.1M tonnes of 1.64 g/t Ag and 0.66 g/t Au for a total of 7K Oz Ag and 3K Oz Au. For El Gallo Silver, M+I resources are 4.5M tonnes of 133 g/t Ag and 0.12 g/t Au for a total of 19M Oz Ag and 18K Oz Au, and Inferred resources of 0.1M tonnes of 129 g/t Ag and 0.14 g/t Au for a total of 286K Oz Ag and 0.3K Oz Au. M+I combined resources are 14.5M tonnes of 42 g/t Ag and 0.45 g/t Au for a total of 19.5M Oz Ag and 208K Oz Au and Inferred resources of 0.2M tonnes of 46 g/t Ag and 0.48 g/t Au for a total of 293K Oz Ag and 3K Oz Au. The company also reported proven + probable reserves of 10.1M tonnes for the Fenix project with grades of 1.g g/t Ag and 0.58 g/t Au for a total of 517K Oz Ag and 190K Oz Au; proven + probable reserves of 4.4M tonnes for the El Gallo Silver project with grades of 133 g/t Ag and 0.12 g/t Au for a total of 18.7M Oz Ag and 17K Oz Ag. Proven + probable combined reserves are 14.5M tonnes of 41 g/t Ag and 0.44 g/t Au for a total of 19.2M Oz Ag and 207K Oz Au.
  • GoGold Resources Inc., provided an outlook for 2021 and plans to deliver a PEA at Los Ricos South in January; to conduct an aggressive 10,000m drill program at Los Ricos North to test 10 of the more than 100 targets identified to date; and deliver an initial mineral resource at Los Ricos North in the summer of 2021.

ON DEALS AND CORPORATE ISSUES

  • Megastar Development Corp., announced results of its 2020 annual general meeting for shareholders (Yautepec property, Oaxaca).
  • GR Silver Mining Ltd., and Mako Mining Corp., amended an agreement in which the first would acquire 100% of the issued and outstanding shares of Marlin Gold Mining Ltd., and to enter into a definitive agreement on or before December 31, 2020.

ON SOCIAL RESPONSIBILITY

  • Gold Resource Corporation reported a fatality at its Arista mine in Oaxaca. The incident involved a light vehicle in an unauthorized and inactive area of the Arista underground mine. The Company is working with authorities in an ongoing investigation to establish the exact cause of the accident. 

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, a hydrothermal breccia in a prospect in Durango, Mexico.  Photo by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of December, 2020

By Jorge Cirett

During the 52nd week of the year (December 21st to December 27th, 2020), at least 28 press releases were announced by companies working in Mexico. To note, six companies posted exploration advances on their properties, six more made announcements related to their shares, three more released resource related news and five more on deals/corporate matters. ON MEXICO ISSUES, the Covid pandemic has not dented mining company’s performance on the BMV. The illegal blockade on Los Filos mine, Guerrero, has been lifted (without great help from the authorities). ON EXPLORATION, in Sonora, Tocvan Ventures informed the RC drilling program has been completed at its Pilar project. In Chihuahua, Radius Gold informed on the status of its Amalia and Plata Verde projects; Mammoth Resources informed it has signed a surface agreement with two ejidos at Tenoriba. In Sinaloa, Mithril Resources released drilling results from Los Reyes, Copalquin. In Nayarit and Jalisco, Candente Gold is studying and permitting the Cocula and El Dorado projects, as well as a processing plant.  ON MINING, Golden Minerals has commenced mining at Rodeo, in Durango. Equinox Gold informed the illegal blockade on the Los Filos projects has been lifted. ON FINANCING, Orla mining is now listed on the NYSE. Consolidated Zinc consolidated its shares on a 15 to 1 basis. Azucar Minerals granted stock options to directors, employees and consultants for $465 K. Reyna Silver issued $299 K in shares to five directors and officers. VanGold Mining and Canuc Resources announced financing rounds for C$7.5 M and $300 K respectively. ON RESOURCES AND DEVELOPMENT, Sonora Gold is assessing to increase the capacity of the planned heap leach operation at Cerro Caliche, in Sonora, to 20,000 tdp. Sierra Metals filed a NI-43-101 report updating the resource base on its Cusi mine, in Chihuahua. Minera Alamos filed on SEDAR the technical report and mineral resource estimate for the Cerro de Oro project, Zacatecas. ON DEALS AND CORPORATE ISSUES, VanGold Mining signed the acquisition of El Cubo mine and El Cubo mine complex in Guanajuato with Endeavour Silver. Almaden Minerals received notification from SEMARNAT that its permit application to develop the Ixtaca project in Puebla has been rejected. Maverix Metals informed on the acquisition of royalties from the Camino Rojo project in Zacatecas and the Cristina project in Chihuahua, as well as the sale of a royalty on the Yecora project in Sonora. Odyssey Marine Exploration informed it has gained more financial support for its litigation against the Mexican government for its refusal to concede a mining permit on its “Exploraciones Oceánicas” offshore phosphate project in Baja California Sur. Elemental Royalties informed it holds a 1% NSR on the Mercedes mine, Sonora, which is owned by Equinox Gold. ON SOCIAL RESPONSIBILITY, Peñoles has been supporting soccer tournaments since 2011.

ON MEXICO ISSUES

  • The Covid pandemic has not dented mining company’s performance on the BMV (Bolsa Mexicana de Valores). At the beginning of the year the four biggest companies in the BMV (Grupo Mexico, Peñoles, Frisco and Autlán) were worth $524,500 million pesos, and now these are valued in $796,500 million pesos (US$39.5 billion), a 51.8% increase. These gains contrast with the expected decline of 25% in exploration, partly die to the pandemic, partly also due to the lack of certitude on government policies, delays or denials of permitting (see note on Almaden) and a greater tax burden.

ON EXPLORATION

  • Radius Gold Inc. informed on the exploration status of its projects in Mexico. At Amalia, in Chihuahua, Radius’s joint venture partner, Pan American Silver Corp. is funding and operating the phase 4 drill campaign, of which 1,838 m in 4 holes have been completed. At Plata Verde, also in Chihuahua, orientation induced polarization and ground magnetic surveys are being conducted. The target mineralized breccias occur under less than 100 m of volcanic cover rocks, and the geophysical surveys are planned to aid drill targeting.
  • Mammoth Resources Corp. announced the second of two ejidos (community held surface land) voted in favor of a two-year surface agreement for exploration at its Tenoriba project in Chihuahua. During “the term of the agreements the Company will be making contributions towards a number of community benefit programs and looks forward to reporting on these contributions. Mammoth will also be providing assistance to a number of the most vulnerable inhabitants of both ejidos”.
  • Mithril Resources Ltd. released good drilling results from Los Reyes target at Los Reyes project in Durango (not to mistake for Prime Mining’s Los Reyes project in Sinaloa).  Highlighted core length intercepts comprise 2.22 m @ 32.35 gpt  Au, 185 gpt Ag; 0.70 m @ 9.3 gpt Au, 125 gpt Ag; 1.20 m @ 2.05 gpt Au, 85 gpt Ag in one hole and 3.0 m @ 2.86 gpt Au, 84 gpt Ag (including 0.6 m @ 9.79 gpt Au, 165 gpt Ag) in other. Drilling is to recommence in early January 2021 at El Refugio target, whereas soil sampling is programmed for El Refugio West, La Soledad West, El Indio and Zaragoza prospects in January-February 2021.
  • Prismo Metals Inc. completed its 2020 drilling campaign at Palos Verdes, Sinaloa. A total of 436.8 m were drilled in four holes, and a fifth hole is to be completed in January 2021. The holes intercepted wide zones of discrete quartz veins in andesite with quartz and stockwork quartz veining, local pyrite and sphalerite. Results pending.
  • Tocvan Ventures Corp. informed on the completion of its campaign of reverse circulation drilling at its Pilar project, Sonora. A total of 1,505 m were drilled in nine holes, with results expected in early 2021.
  • Candente Gold Corp. announced that technical experts have been engaged for permitting and deposit modelling for the El Dorado (Nayarit) and Cocula (Jalisco) projects and for permitting of the San Dieguito de Arriba (Nayarit) plant.

ON MINING

  • Golden Minerals Corp. announced it has begun mining at its Rodeo property, Durango.  Material over 3.0 gpt Au is to be transported in January to Golden’s Velardeña 200 tpd mill. A second ball mill is to be installed to increase the processing capacity to 450 tpd.
  • Equinox Gold Corp. reported that “the blockade by members of the Carrizalillo community at the Company’s Los Filos Mine in Mexico has been removed and access to the mine has been restored. Representatives from Los Filos continue to meet regularly with community leaders to reach consensus on the remaining items related to benefits provided under the Carrizalillo social collaboration agreement”.

ON FINANCING

  • Orla Mining Ltd. is now listed on the New York Stock Exchange. Orla’s addition to the exchange is classified as a “dual listing without capital raise”.  (Camino Rojo, Zacatecas).
  • Consolidated Zinc Ltd. informed the 1 to 15 consolidation of the company securities is now complete (Plomosas, Chihuahua).
  • Azucar Minerals Ltd. has granted stock options to certain directors, employees, and consultants of the company to purchase 465 K common shares in the capital of Azucar (El Cobre, Veracruz).
  • VanGold Mining Corp. announced a part and parcel non-brokered private placement financing for gross proceeds of C$7.5 M (El Cubo, Guanajuato).
  • Canuc Resources Corp. announced the closing of a non-brokered private placement for gross proceeds of $300 K (San Javier Silver-Gold, Sonora).
  • Reyna Silver Corp. issued $299 K of its common shares toward partial annual compensation to five directors and officers of the Company (Guigui, Chihuahua).

ON RESOURCES AND DEVELOPMENT

  • Sonora Gold Corp.  informed on the expansion of several mineralized zones at its Cerro Caliche property in Sonora. Based on these results Sonoro is assessing the viability of a heap leach mining operation with an increased capacity form 8,000 to 20,000 tonnes per day. Highlighted core length intervals comprise 11.7 m @ 0.92 gpt Au; 11.25 m @ 1.08 gpt Au; 8.45 m @ 1.4 gpt Au; 5.7 m @ 1.25 gpt Au in the El Colorado zone, and 13.72 m @ 0.47 gpt Au; 15.24 m @ 0.40 gpt Au; 21.33 m @ 0.47 gpt Au; 25.91 m @ 0.42 gpt Au at Los Japoneses.
  • Sierra Metals Inc. filed a NI 43-101 report updating the resource base on its Cusi mine, in Chihuahua. Measured and indicated resources now consist of 5.36 M tonnes @ 182 gpt Ag, 0.12 gpt Au, 0.49% Pb, 0.58% Zn (215 gpt AgEq), and inferred resources of 4.89 M tonnes @ 146 gpt Ag, 0.18 gpt Au, 0.43% Pb, 0.69% Zn (183 gpt AgEq). (Note.- this should amount to close to 55 M Oz Ag, not counting other metals credits).
  • Minera Alamos Inc. filed on SEDAR the technical report and mineral resource estimate for the Cerro de Oro project, Zacatecas. The inferred mineral resource on oxide ore is 48 M tonnes @ 0.41 gpt Au, containing 630 K Oz Au.

ON DEALS AND CORPORATE ISSUES

  • VanGold Mining Inc. signed a binding letter agreement with Endeavour Silver Corp. to acquire the El Cubo mill and mill complex, in Guanajuato, 8 km from its El Pinguico property. El Cubo complex includes two underground operating mines (in care and maintenance) and a 1,500 tpd flotation plant.  VanGold intends to restart the mill at approximately 750 tpd “using mineralized material from its surface and underground stockpiles at its El Pinguico project as a significant portion of its estimated throughput for the first 36 months of operation”. El Cubo has measured, indicated and inferred resources of 2.4 M Oz Ag and 28.2 K Oz Au.
  • Almaden Minerals Ltd. Has received notification from the Mexican federal permitting authority, Secretaría de Medio Ambiente y Recursos Naturales (SEMARNAT) that the company’s initial environmental permit application (MIA) in respect of the Ixtaca project has not received approval. Almaden originally submitted the MIA in early 2019. The SEMARNAT resolution cites insufficient information regarding the impacts of open pit mining on the environment, local and regional area. “The Company is continuing its review of SEMARNAT’s response to the MIA and is evaluating its alternatives which include the re-submittal of a revised MIA, continuing dialogue, and legal options”.
  • Maverix Metals Inc. informed on some royalties included in the Newmont Corporation royalty portfolio acquired in October 29, 2020. Orla Mining Ltd. elected not to exercise its ROFR (Right Of First Refusal) on the 2.0% net smelter return royalty of oxide and transitional ore production from the Camino Rojo project located in Zacatecas; Orla expects the first gold pour in the second half of 2021. Criscora, S.A. de C.V., a wholly owned subsidiary of TCP1 Corporation, will acquire the 1.0% NSR royalty on the Yecora project located in Sonora, for a cash payment of $1.5 M, which Maverix will receive. The ROFR on the Cristina project located in Chihuahua, was not exercised and Maverix will acquire the 2.0% NSR royalty.
  • Odyssey Marine Exploration Inc. has secured up to an additional $10 M to support its pending North American Free Trade Agreement (NAFTA) claim against Mexico. The NAFTA claim relates to the “unlawful denial of the environmental permit for subsidiary Exploraciones Oceanicas’ (ExO’s) offshore phosphate project” in Baja California Sur.  The project, said to be one of the largest and highest quality phosphate sands deposits in the world, is subject to a $2.36 billion claim against Mexico under NAFTA.
  • Elemental Royalties Corp. disclosed it owns a 1% Net Smelter Returns (“NSR”) royalty on Premier’s Mercedes Mine, a key asset in the Premier portfolio, which becomes payable to Elemental from July 28, 2022 following a time hurdle. Premier Gold Mines Ltd. was recently acquired by Equinox Gold Corp.

ON SOCIAL RESPONSIBILITY

  • Peñoles has been supporting soccer tournaments since 2011 with the installation of the “Copa Santos Peñoles”. The last edition of the tournament (2019) counted with the participation of 288 teams.

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

On the image below: Quartz vein stockwork from a project in San Luis Potosí. Picture by Jorge Cirett.

GR Silver Mining Reports Significant Drill Results at the Plomosas Silver Project

20-12-15_GR-Silver-News-Release-Final

VANCOUVER, BCDec. 15, 2020 /CNW/ – GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to report drill results from the Company’s recently announced surface and underground core drilling program in the Plomosas Mine Area, as well as validation sampling results from historic drilling at its 100%-owned Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico.

The Mining and Exploration News in Mexico: Highlights on the Second Week of December, 2020

By Jorge Cirett

During the 50th week of the year (December 7th to December 13th, 2020), at least 31 press releases were announced by companies working in Mexico. To note, ten companies posted exploration advances on their properties and seven more published on project development. ON MEXICO ISSUES, a list of eight projects that have changed hands in the last six months include properties in Sonora, Chihuahua, Durango and Zacatecas. The AIMMGM confirmed its International Convention will be held in 2021 in Acapulco, Guerrero (With so many options, Why Acapulco? Why?), as vaccination is likely to have the pandemic under control by then. The proposed law against outsourcing is likely to affect the mining industry in Sonora. The Naica mine (site of the famous Crystals Cave) in Chihuahua is to see activity again.  ON EXPLORATION, in Sonora, Riverside reported trench sampling results at the Cuarentas project; Tocvan Ventures informed RC drilling advances at its Pilar project; Colibri Resource released assays from trench sampling at Evelyn. In Chihuahua, Reyna Silver started drilling at the Guigui project, in the Santa Eulalia district. In Sinaloa, Brigadier Gold updated on the exploration of the Picachos project. In Durango, Mithril Resources released drilling results from Copalquin; Canasil Resources reported on two more drill holes at the Nora project. In Zacatecas, VanGold Mining completed a shaft to the 7th level at its Pinguico project; Defiance Silver commenced its 5,000 m drilling program at San Acacio; Advance Gold defined a new geophysical anomaly at Tabasqueña.  ON MINING, Mexus Gold continues to produce from its heap leach operation at the Santa Elena mine in Sonora. Gatos Silver informed on production on the third quarter. Alamos Gold provided its 2021 gold production guidance. ON FINANCING, First Majestic is to start paying a dividend. Canuc Resources and Oroco Resource closed non-brokered private placements for CAD$1 M and $15.5 M respectively. Alien Metals is to issue 3.4 M shares of no par value. ON RESOURCES AND DEVELOPMENT, GR Silver Mining reported on bulk metallurgical testing at Plomosas, Sinaloa. Sonoro Gold released drilling results from the Cerro Caliche project in Sonora. GoGold Resources released drilling results from La Trini deposit at its Los Ricos North project in Jalisco. Consolidated Zinc continues the plant refurbishment at its Plomosas mine in Chihuahua. Impact Silver is re-interpreting all the historical exploration data gathered at the Real de Zacualpan district in Estado de Mexico. Sierra Metals released a new PEA on the expansion to 2,400 tpd of its Cusi mine, in Chihuahua. Southern Silver Exploration reported results of two deep holes on the South Skarn target of Cerro Las Minitas, Durango.  ON DEALS AND CORPORATE ISSUES, Capstone Mining signed a precious metals purchase agreement with Wheaton Precious Metals International. ON SOCIAL RESPONSIBILITY, Grupo Peñoles, Fresnillo PLC, Peña Colorada, Minera Media Luna, Almaden Minerals and Esperanza Silver informed on programs to aid communities near their operations.

ON MEXICO ISSUES

  • Projects that have changed hands in the second half of the year include El Picacho (Sonora) by Silver Crest, MVZ within El Pajarito project (Chihuahua) by Li-ion Graphite, Juliana (Sonora) by Tarachi Gold, Magistral de Oro tailings (Durango) by Tarachi Gold, Margarita (Chihuahua) by Magna Gold, La Sanguijuela and Cerro Gordo (Jalisco) by Endeavour Silver, Lucita (Zacatecas) by Defiance Silver and Santa María (Chihuahua) by Fabled Silver.
  • The AIMMGM (Asociación de Ingenieros de Minas, Metalurgistas y Geólogos de México) announced that thanks to the appearance of the Covid-19 vaccine, the next International convention sponsored by the association is to be held in Acapulco, Guerrero, in October 19-22 of 2021.
  • Coparmex Sonora (Confederación Patronal de la República Mexicana – Sonora) stated that the proposed law against outsourcing is to affect the mining industry on the state, as 40% of its work force is under this scheme.
  • The Naica mine in Chihuahua (home to the famous Cave of Crystals), which closed in 2015, is to see miners again, as a group of twenty has been contracted to start working again. The mine is also to supply water from its underground workings to irrigate 200 hectares of farm land.

ON EXPLORATION

  • Mithril Resources Ltd. released drilling results from its Copalquin project in Durango. Highlighted core-length intercepts comprise 9.35 m @ 7.84 gpt Au, 138 gpt Ag (including 4.0 m @ 16.44 gpt Au, 287 gpt Ag) at El Refugio; 14.85 m @ 0.85 gpt Au, 48 gpt Ag (including 1.30 m @ 5.07 gpt Au, 309 gpt Ag) and 9.78 m @ 0.85 gpt Au, 13 gpt Ag; 11.70 m @ 1.16 gpt Au, 70 gpt Ag (including 1.0 m @ 7.17 gpt Au, 236 gpt Ag; 2.90 m @ 1.93 gpt Au, 216 gpt Ag; 5.28 m @ 0.39 gpt Au, 26 gpt Ag; 10.15 m @ 0.55 gpt Au, 16 gpt Ag (including 1.0 m @ 3.75 gpt Au, 70 gpt Ag.
  • Riverside Resources Inc. and Hochschild Mining reported trench sampling results at its Cuarentas project in Sonora. Highlighted trench sampling comprises 12.5 m @ 0.59 gpt Au; 12.5 m @ 0.33 gpt Au; 25 m @ 0.27 gtp Au; 22.5 m @ 0.17 gpt Au; 6.0 m @ 0.24 gpt Au at Santa Rosalía. Channel sample results from the Centro target include 1.0 m @ 2.23 gpt Au; 1.5 m @ 1.01 gpt Au; 1.2 m @ 0.53 gpt Au.
  • VanGold Mining Corp. has completed clearing the Pinguico shaft to adit level 7, at El Pinguico mine, Zacatecas. The company expects to be able to sample the lower portion of an underground stockpile (or backfill) that the Mexican Geological Survey (SGM) measured at 149 K tonnes @ 1.66 gpt Au, 143 gpt Ag.
  • Tocvan Ventures Corp. informed more than 400 m of reverse circulation drilling in three holes have been sunk at its Pilar project in Sonora. Results are pending and expected early in the New Year.
  • Defiance Silver Corp. commenced drilling at its San Acacio project in Zacatecas. The 5,000 m program is to focus on the Veta Grande vein system in hanging wall structural offsets and the Veta Grande vein system at depth.
  • Reyna Silver Corp. started drilling at its Gugui project in the Santa Eulalia district of Chihuahua. “Santa Eulalia is Mexico’s largest Carbonate Replacement Deposit (CRD) but despite over 300 years of continuous mining activity, the intrusive source for the system, which is Reyna’s initial target focus, has not been found…….. Targeting is based on a combination of geology, geochemistry, geophysics and hyperspectral satellite imagery analysis”. The initial drilling is to comprise 10,000 m.
  • Canasil Resources Inc. released results from two more drill holes on the Candy vein at its  Nora project in Durango. True width (TW) intervals comprise 0.72 m @ 1.46 gpt Au, 7 gpt Ag in one hole, and 2.40 m @ 4.78 gpt Au, 351 gpt Ag, 0.5% Pb+Zn (including 0.45 m @ 15.60 gpt Au, 561 gpt Ag, 0.5% Pb+Zn); 0.45 m @ 7.13 gpt Au, 639 gpt Ag, 0.7% Pb+Zn; 1.49 m @ 11.86 gpt Au, 378 gpt Ag, 0.21% Pb+Zn; 0.45 m @ 36.70 gpt Au, 1,010 gpt Ag, 0.35% Pb+Zn.
  • Colibri Resource Corp. released further assay results from the trenching program at its Evelyn project in Sonora. Twenty two out of 95 samples  returned more than 0.1 gpt Au, and 6 were greater than 1.0 gpt Au, peaking at 17.75 gpt Au. Areas with good gold values include El Sahuaro, Cerro Rojo and Central Evelyin targets.
  • Brigadier Gold Ltd. updated in the exploration at its Picachos project in Sinaloa. “The 3,954 hectare Picachos Property is centered over the historic “Viva Zapata” National Mineral Reserve, Sinaloa, Mexico.  It overlaps two mineralized systems, a porphyry copper‐molybdenum system hosted by a Paleocene granite‐granodiorite intrusive complex, and a gold‐silver vein complex comprised of both east‐northeasterly trending veins (La Cocolmeca Vein System) and northwesterly trending veins (El Placer System)”. The company has established its community relations, repaired roads, upgraded the water supply, built a core processing facility, drill tested the SW of the Cocolmeca vein system and discovered several new veins by trenching on historic soil anomalies.
  • Advance Gold Corp.  informed on results of a newly completed geophysical study at its Tabasqueña project in Zacatecas. The induced polarization survey delineated a new large chargeability anomaly to the west of known anomalies.

ON MINING

  • Mexus Gold US. announced the gold production from its newly completed leach pad at its Santa Elena mine in Sonora is to be sold before the end of the year.
  • Gatos Silver Inc. reported third quarter 2020 results. At the Cerro Los Gatos mine in Chihuahua, 164.5 K tonnes were mined to produce 6,097 tonnes of lead concentrate @ 5,726 gpt Ag, 6.82 gpt Au, 59.71% Pb, 9.69% Zn and 7,980 tonnes of zinc concentrate @ 572 gpt Ag, 0.52 gpt Au, 1.60% Pb, 56.46% Zn. Recoveries stood at 85.1% Ag, 87.3% Pb, 73.9% Zn. The mine was recommissioned in late May from the pandemic lockdown with a monthly production rate of 1,750 tpd.
  • Alamos Gold Inc. provided guidance for gold production and costs for 2021, including from its Mexican operations. At Mulatos, in Sonora, Alamos is to produce 150-160 K Oz Au at total cash cost of $840-890 per Oz Au and Mine-site-all-in-sustaining-cost of $1,060-1,110 per Oz Au. The Mulatos district is to produce 140-150 K Oz Au in 2020, at cash cost $840-890 per Oz Au and Mine-site AISC of $940-980 per Oz Au, at an operating rate of 22,000 tpd @ 0.9-1.1 gpt Au, recovering 60% of gold. A total of $9 M in exploration is to be spent at Mulatos in 2021.

ON FINANCING

  • First Majestic Silver Corp. announced the company will start paying a dividend of 1% net revenues commencing after the completion of the first quarter 2021 (San Dimas, Durango).
  • Canuc Resources Corp. closed a non-brokered private placement for CAD$1.02 M in gross proceeds (San Javier silver -gold, Sonora).
  • Alien Metals Ltd. announced an incoming share issue of 3.4 M units of no par value (Los Campos and San Celso, Zacatecas).
  • Oroco Resource Corp. closed a non-brokered private placement for gross proceeds of $15.5 M (Santo Tomás, Sinaloa).

ON RESOURCES AND DEVELOPMENT

  • GR Silver Mining Ltd.  reported results of bulk metallurgical testing at its Plomosas project in Sinaloa. The 2,700 tonnes sample was excavated from a representative zone of the San Juan area underground development – San Juan vein & breccia, and sent for off-site processing. The samples produced a concentrate that averaged 15,147 gpt Ag and 46.2 gpt Au (recovery rates were not mentioned).
  • Sonoro Gold Corp. released assay results from the ongoing drilling program at its Sonoro project in Sonora. Highlighted core length intercepts comprise 16.25 m @ 0.67 gpt Au, 5 gpt Ag; 10.70 m @ 0.29 gpt Au, 4 gpt Ag; 20.95 m @ 0.50 gpt Au, 25 gpt Ag; 21.0 m @ 0.88 gpt Au, 18 gpt Ag (including 2.90 m @ 3.86 gpt Au, 48 gpt Ag); 9.50 m @ 0.40 gpt Au, 2 gpt Ag, at the El Rincón-Veta de Oro zone, and 12.19 m @ 0.35 gpt Au; 45.72 m @ 0.36 gpt Au; 4.57 m @ 0.66 gpt Au; 28.96 m @ 0.22 gpt Au; 12.19 m @ 0.45 gpt Au; 21.33 m @ 0.58 gpt Au; 24.38 m @ 0.75 gpt Au; 21.34 m @ 0.81 gpt Au (including 6.10 m @ 2.03 gpt Au) at the Buena Suerte and Japoneses zones.  
  • GoGold Resources Inc. released additional assays from drilling at La Trini deposit, part of the Los Ricos North project in Jalisco. Core length intercepts comprise 23.1 m @ 0.04 gpt Au, 44 gpt Ag; 29.5 m @ 0.69 gpt Au, 91 gpt Ag (including 16.7 m @ 1.18 gpt Ag, 141 gpt Ag that include 6.3 m @ 2.66 gpt Au, 320 gpt Ag); 36.7 m @ 1.00 gpt Au, 69 gpt Ag; 61.4 m @ 1.06 gpt Au, 124 gpt Ag (including 13.9 m @ 4.29 gpt Au, 477 gpt Ag that include 3.4 m @ 14.28 gpt Au, 1,694 gpt Ag); 15.6 m @ 0.11 gpt Au, 93 gpt Ag; 44.1 m @ 0.56 gpt Au, 46 gpt Ag (including 6.4 m @ 2.18 gpt Au, 108 gpt Ag); 33.0 m @ 1.24 gpt Au, 68 gpt Ag (including 6.0 m @ 4.94 gpt Au, 218 gpt Ag).
  • Consolidated Zinc Ltd. announced the plant refurbishment of its Plomosas mine in Chihuahua is on time and on budget. The primary ball mill has been delivered to site, the crushing circuit dry testing has been completed, flotation cells are in the purchasing stage and the tailings dam, construction is due to commence.
  • Impact Silver Corp. contracted a consultant to re-interpret data “from extensive historic geophysical surveys carried out over the southern portions of the large Royal Mines of Zacualpan Project in central Mexico. This area hosts the Capire open pit silver deposit, the Manto America bulk tonnage gold target and many other exploration areas. The historic data sets include IP (Inverse Polarization), airborne magnetometer and EM (electromagnetics), radiometric and ground gravity surveys that were carried out by a previous operator in the 1990’s”.
  • Sierra Metals Inc. reported results from a PEA (preliminary economic assessment) on the expansion of its Cusi mine, Chihuahua. The report sets an after-tax net present value (NPV) of US$81 Million at an 8% discount rate assuming a long term silver price of US$20/Oz, envisaging the increase of production from 1,200 to 2,400 tpd, with an NPV (@ 8%) of US$28.1 M, and IRR of 46.8%, with a mine life of 13 years, processing ore @ 127.2 gpt Ag, 0.12 gpt Au, 0.48% Zn, 0.34% Pb to produce 33.4 M Oz Ag.   The expected net after-tax cash flow is US$134 M.
  • Southern Silver Exploration Corp. reported assay results from its 10,000 m core drilling program on Cerro Las Minitas, Durango. The two holes reported are from the South Skarn target, with highlighted true width (tw) intervals comprising 2.7 m @ 511 gpt Ag 0.1 gpt Au, 0.13% Cu, 5.0% Pb, 3.7% Zn (including 0.6 m @ 902 gpt Ag, 0.05 gpt Au, 0.16% Cu, 7.8% Pb, 8.4% Zn); 1.6 m @ 182 gpt Ag, 0.23 gpt Au, 0.21% Cu, 4.4% Pb, 4.1% Zn; 0.9 m @ 247 gpt Ag, 0.19 gpt Au, 0.07% Cu, 4.7% Pb, 1.2% Zn; 3.3 m @ 304 gpt Ag, 0.11 gpt Au, 0.18% Cu, 4.8% Pb, 1.9% Zn (including 0.6 m @ 607 gpt Ag, 0.15 gpt Au, 0.49% Cu, 11.0% Pb, 3.4% Zn); 10.4 m @ 172 gpt Ag, 0.08 gpt Au, 0.15% Cu, 3.8% Pb, 3.7% Zn (including 5.8 m @ 286 gpt Ag, 0.11 gpt Au, 0.27% Cu, 6.4% Pb, 5.8% Zn); 1.2 m @ 303 gpt Ag, 0.05 gpt Au, 0.02% Cu, 7.1% Pb, 5.8% Zn.

 ON DEALS AND CORPORATE ISSUES

  • Capstone Mining Corp. entered into a definitive precious metals purchase agreement with Wheaton Precious Metals International Ltd.. Wheaton will pay an upfront cash consideration of $150 M for 50% of the silver production until 10 M Oz have been delivered, thereafter dropping to 33% of silver production for the life of mine from the Capstone’s Cozamin Mine in Zacatecas.

ON SOCIAL RESPONSIBILITY

  • Grupo Peñoles donated 30 ventilators, 35 ventilator circuits and more than 90 thousand face masks in Chihuahua.
  • The Mining Fund provided resources for a water well in Zacatecas.
  • Fresnillo PLC informed on its efforts aiding on the recovery and promotion of wildlife in Zacatecas.
  • Peña Colorada, Televisa and the Mexican Bank association are sponsoring scholarships for 121 students in Colima.
  • Minera Media Luna (Torex Gold) funded the asphalting of streets of communities in Cocula, Guerrero.
  • Almaden Minerals informed that an “irrigation dam developed by the Company in partnership with the Federal Government water authority (“CONAGUA”) and a local irrigation group from the community of Zacatepec, is now in operation”(in Puebla).
  • Esperanza Silver intends to develop the Esperanza project in Morelos in a sustainable way with social inclusion.

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

On the image below: Argillic alteration at Villa de Reyes, San Luis Potosí. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of November, 2020

By Jorge Cirett

During the 48th week of the year (November 23rd to November 29th, 2020), at least 22 press releases were announced by companies working in Mexico. To note, seven companies posted exploration advances on their properties and seven more published on project development. ON MEXICO ISSUES, Mining concessions surface has been reduced by 21% in this federal administration. Camimex delivered its “Cascos de Plata” awards. The COVID pandemic has accelerated the digital transformation in mining. ON EXPLORATION, in Sonora, Silver Viper informed on the status of exploration at its La Virginia project; Tarachi Gold released high-grade results from drilling at La Dura, on its Tarachi project. In Chihuahua, Reyna Silver has received drill permits for Guigui. In Sinaloa, GR Silver delineated a new mineralized zone at Plomosas; Brigadier Gold released high-grade results from the first holes at Picachos. Vizsla released assays from the first hole at the Agüita Zarca prospect in Panuco. In Puebla, Almaden Minerals reported on exploration of the SE zone at Ixtaca.  ON MINING, Impact Silver released third quarter financial results. Telson Mining began to send ore from Tahuehueto to a toll mill. ON FINANCING, Candente Gold closed a financing round raising $250 K. Alien Metals raised £2.5 M. ON RESOURCES AND DEVELOPMENT, Great Panther Mining updated the mineral resource estimate at its Guanajuato mine Complex. Minera Alamos has received the last significant permit to start plant construction at La Fortuna in Durango. Prime Mining mobilized the first rig to Los Reyes, Sinaloa. Sonoro Gold released results from 20 more drill holes at Cerro Caliche, Sonora. Premier Gold Mines reported results from delineation drilling at Mercedes, Sonora. Discovery Metals informed on drilling targeting bulk tonnage and high-grade veins at Cordero, Chihuahua. Orla Mining informed on the start of earth-moving activities at Camino Rojo, Zacatecas.  ON DEALS AND CORPORATE ISSUES, Candente gold is changing name to Xali Gold Corporation. Candelaria Mining sold a 0.5% royalty on production from Pinos, Zacatecas. ON SOCIAL RESPONSIBILITY, Peñoles and Fresnillo PLC informed on programs to aid communities near their operations. Newmont informed on a plan to achieve zero-emissions by 2050.

ON MEXICO ISSUES

  • The current federal government reduced by 21% the surface under mining concessions. This as a result of a strict review on the concessions current at the start of the federal administration, and the denial to issue new titles by the president.
  • Camimex (Cámara Minera de México) delivered the “Cascos de Plata” (Silver hard hats) awards to the six mining units with the best safety records in Mexico. The awards went to Agnico Eagle Mexico, Grupo Mexico’s La Caridad, America’s Gold & Silver Cosalá, Velardeña (Peñoles), Grupo Mexico’s Planta ESDE and Grupo Mexico’s Refinería Electrolítica de Zinc.
  • Mining companies state the COVID pandemic has accelerated the digital transformation and advanced automatization.

ON EXPLORATION

  • GR Silver Mining Ltd. Delineated a new mineralized zone, Yecora, from drilling in the San Juan area of its Plomosas project in Sinaloa. Highlighted results comprise 5.5 m @ 264 gpt Ag, 0.4 gpt Au, 0.3% Pb, 0.6% Zn; 19.0 m @ 49 gpt Ag, 1.8 gpt Au, 0.8% Pb, 1.4% Zn; 25.2 m @ 82 gpt Ag, 0.5 gpt Au, 0.9% Pb, 0.5% Zn; 3.2 m @ 27 gpt Ag, 0.3 gpt Au, 3.0% Pb, 11.4% Zn; 7.1 m @ 7.5% Zn, 2.4% Pb, 0.9 gpt Au; 3.3 m @ 11.3% Zn; 0.4 m @ 10.2 gpt Au, 2.1% Zn. “The San Juan Trend now extends for at least 2 km along strike, consisting of at least six mapped veins: San Juan, La Colorada, Yecora, Loma Dorada, La Odisea and San Francisco”.
  • Silver Viper Minerals Corp. informed on exploration at its La Virginia project in Sonora. The property was previously explored by Pan American Silver and Minefinders which sunk 188 drill holes for a total of 52,000 m of diamond drilling. Silver Viper acquired the project in 2018, starting by drilling gaps in the Las Huatas and Convirginia zones, and sunk five holes in a new area, El Rubi, where a new discovery was made in a zone with quartz veins, stockworks and breccias. In 2019 most work was a follow-up on El Rubi, with mapping and rock sampling, with a second drill campaign commencing by the end of that year that now has more than 15,000 m drilled. The company notes that hole LV20-245 (the last released, with 110 m @ 38 gpt Ag, 0.76 gpt Au) drilled 100 m west of El Rubi is a second discovery, showing the potential for open pit mining at the zone.
  • Reyna Silver Corp. has received drill permits for the Guigui project in Chihuahua. “The Guigui Project is located in the heart of the Santa Eulalia Mining District, home to Mexico’s largest Carbonate Replacement Deposit (CRD). The Santa Eulalia Mining District has produced 510 M Oz of silver, 4.2 MT of lead, 3.6 MT of zinc, at average grades of 310 g/t Ag, 8.2% Pb and 7.1% Zn.
  • Brigadier Gold Ltd. released results from the first three diamond holes of a 5,000 m program at its 3,954 hectares Picachos property on the Rosario district in Sinaloa. The 18th hole is being drilled, with the first 14 testing 225 m of strike length on the San Agustin vein and the rest now testing Los Tejones. Highlighted core length intercepts comprise 7 m @ 7.45 gpt Au, 51 gpt Ag (including 1 m @ 45.63 gpt Au); 1 m @ 1.33 gpt Au, 22 gpt Ag; 4.5 m @ 2.89 gpt Au, 50 gpt Ag (including 2 m @ 6.12 gpt Au, 52 gpt Ag); 2 m @ 2.71 gpt Au, 24 gpt Ag. Trench sampling returned 7 m @ 0.39 gpt Au, 53 gpt Ag; 1.5 m @ 7.53 gpt Au, 113 gpt Ag; 1.55 m @ 15.49 gpt Au, 109 gpt Ag (including 0.35 m @ 66.36 gpt Au, 99 gpt Ag); 1 m @ 3.21 gpt Au, 184 gpt Ag; 5 m @ 4.89 gpt Au, 67 gpt Ag.   
  • Tarachi Gold Corp. released results from underground diamond drill holes at La Dura mine on the Jabali concession of the Tarachi project in Sonora. Highlighted core length intercepts comprise 7.0 m @ 2.30 gpt Au; 14.5 m @ 5.49 gpt Au (including 7.0 m @ 9.67 gpt Au); 8.0 m @ 0.31 gpt Au; 20.1 m @ 4.54 gpt Au (including 10.0 m @ 7.48 gpt Au). Mineralization at La Dura is defined by a series of steeply dipping crackle brecciated quartz veins in dacitic volcanic rocks.
  • Vizsla Resources Corp. released results from the first hole drilled at the Agüita Zarca prospect of the Cordon de Oro vein at its Panuco project in Sinaloa. The drill hole intercepted core length intercepts of 18.15 m @ 118 gpt Ag, 3.71 Au (457 gpt AgEq), including 5.95 m @ 244 gpt Ag, 10.49 gpt Au (1,208 gpt AgEq). Directly above this intercept there is a trench channel sampling that returned 0.49 gpt Au, 161 gpt Ag (197 gpt AgEq).
  • Almaden Minerals Ltd. reported results from initial surface sampling of veins discovered in the Southeast Alteration Zone of the Ixtaca project in Puebla. These veins were discovered while mapping a clay alteration zone in volcanic rocks, and although not containing precious metals, show high values of trace elements for shallow epithermal systems.

ON MINING

  • Impact Silver Corp. released third quarter 2020 financial results. Average mill feed was 166 gpt Ag. “Silver production year to date 2020 was only down 4% compared to 2019 at 462,231 ounces despite the COVID-19 official shutdown required by Mexican government from April to June 2020”. Cash at the end of the period was $17.4 M.
  • Telson Mining Corp. has begun to send ore from its Tahuehueto project in Durango to the Atocha toll beneficiation plant. To date 3,000 tonnes have been delivered, of 3,500 tonnes on the current program. Telson informed that it is waiting for the final financing to finish the construction of a 1,000 tonnes per day plant at Tahuehueto.

ON FINANCING

  • Candente Gold Corp. closed the non-brokered private placement previously announced, raising a total of $200 K (El Oro, Estado de México).
  • Alien Metals Ltd. informed on the oversubscription of a financing placement that raised £2.5 M in gross proceeds.

ON RESOURCES AND DEVELOPMENT

  • Great Panther Mining Ltd.  updated the mineral resource estimate at its Guanajuato mine Complex, to July 31, 2020. The complex is comprised by the Guanajuato and San Ignacio underground mines and the 1,000 tpd Cata plant. The estimate includes 19,913 m of drilling in 199 holes since the previous resource calculation. The total resource comprises 821.8 K tonnes @ 199 gpt Ag, 2.07 gpt Au in the measured and indicated category and 1,453 K tonnes @ 185 gpt Ag, 2.25 gpt Au in the inferred category, containing 5.24 M Oz Ag, 54,693 Oz Au and 8.66 M Oz Ag, 105,219 Oz Au respectively. The company is working with permitting authorities to expand the capacity of the tailings storage facility, to extend operations beyond January 2021.
  • Minera Alamos Inc. informed the company has received the approval of the MIA (Manifestación de Impacto Ambiental or Environmental Impact Statement) from SEMARNAT for its La Fortuna project in Durango. The company possesses all the key federal approvals necessary for a 2,000 tonnes per day mine and plant construction.
  • Prime Mining Corp. has mobilized the first of at least two rigs for the incoming 10,000 m drill campaign at its Los Reyes project in Sinaloa. Furthermore, recent trench results were released, including 36 m @ 2.12 gpt Au, 19 gpt Ag; 9.0 m @ 0.43 gpt Au, 16 gpt Ag; 13.5 m @ 0.92 gpt Au, 31 gpt Ag; 33 m @ 1.47 gpt Au, 22 gpt Ag; 25.5 m @ 3.51 gpt Au, 32 gpt Ag; 51 m @ 1.37 gpt Au, 132 gpt Ag. Re-logging of core has found that adularia appears to be vertically zoned, which might aid in targeting high-grade zones.
  • Sonoro Gold Corp. reported results from 20 additional reverse circulation (RC) holes at its Cerro Caliche project in Sonora. Highlighted results comprise 45.72 m @ 0.97 gpt Au, 4 gpt Ag; 6.09 m @ 3.99 gpt Au, 9 gpt Ag; 1.52 m @ 7.80 gpt Au, 15 gpt Ag; 9.14 m @ 0.46 gpt Au, 12 gpt Ag; 10.67 m @ 0.96 gpt Au, 13 gpt Au; 13.72 m @ 0.30 gpt Au; 12.19 m @ 0.94 gpt Au, 3 gpt Ag; 1.52 m @ 2.26 gpt Au, 34 gpt Ag; 27.43 m @ 0.48 gpt Au, 1 gpt Ag; 16.76 m @ 0.33 gpt Au, 6 gpt Ag; 4.57 m @ 0.54 gpt Au, 6 gpt Ag; 9.15 m @ 0.54 gpt Au, 6 gpt Ag; 4.57 m @ 1.03 gpt Au, 6 gpt Ag; 1.52 m @ 2.64 gpt Au, 6 gpt Ag; 13.71 m @ 0.36 gpt Au; 19.81 m @ 0.57 gpt Au, 5 gpt Ag; 6.1 m @ 0.66 gpt Au, 6 gpt Ag; 6.1 m @ 0.46 gpt Au, 7 gpt Ag; 15.24 m @ 0.45 gpt Au, 3 gpt Ag.
  • Premier Gold Mines Ltd. reported on results from its delineation core drilling campaign at its Mercedes mine in Sonora. Highlighted true width results comprise 12.7 m @ 10.17 gpt Au, 294 gpt Ag; 8.1 m @ 7.49 gpt Au, 57 gpt Ag; 2.8 m @ 5.29 gpt Au, 30 gpt Ag at Marianas, 4.2 m @ 10.03 gpt Au, 119 gpt Ag; 2.3 m @ 5.31 gpt Au, 131 gpt Ag at San Martin and 10.2 m @ 7.12 gpt Au, 26 gpt Ag; 56.6 m @ 2.99 gpt Au, 12 gpt Ag (including 12.2 m @ 4.47 gpt Au, 21 gpt Ag); 14.2 m @ 4.86 gpt Au, 31 gpt Ag; 13.2 m @ 6.83 gpt Au, 27 gpt Ag at Diluvio stockwork zone. Marianas is the down plunge of the main Mercedes mine trend, composed of three main veins: Main, West and East. The San Martin vein was discovered by drilling in 2019, and Diluvio West consists of a vein stockwork system with a broad envelope.
  • Discovery Metals Corp. informed it has now completed 43,640 m of drilling in 111 holes as part of its expanded 55,000 m program at Cordero, Chihuahua. The focus has been on bulk tonnage targets and high-grade veins. Bulk tonnage targeting shifted from the North Corridor to the South Corridor, where broad zones of mineralization have been intercepted. On high-grade veins, the Todos Santos vein trend has been extended to 1.5 km, and the Porcinera vein to 350 m, both with high-grade intercepts.
  • Orla Mining Ltd. announced the start of earth moving activities at its Camino Rojo Oxide project in Zacatecas. “All permit conditions have been satisfied, including placing of an environmental bond, for site activities to begin. Major contracts for earth moving and civil works have been awarded and detailed engineering is 90% complete. Current activities include mobilization of the earthworks contractor, installation of the construction camp and offices, flora and fauna rescue, as well as site fence erection”.

ON DEALS AND CORPORATE ISSUES

  • Candente Gold Corp. announced the decision to change name to Xali Gold Corp.
  • Candelaria Mining Corp. sold a 0.5% NSR on production from the Pinos project, in Zacatecas, to Empress Royalty Corp. for US$750 K. Empress also purchased an additional 0.5% NSR from a previous royalty holder. The Pinos project is subject to NSR royalties of 2.0%.

ON SOCIAL RESPONSIBILITY

  • Industrias Peñoles is working along with the Teloloapan municipality museum, aiding with an augmented reality presentation in 3D of mining and metallurgic processes, that can be accessed in smart phones and tablets.
  • Fresnillo PLC reforested 7 hectares in Caborca and the surrounding communities during the last four years.
  • Newmont plans to reduce emission of CO2 by 30% and then achieve the zero-emissions target by 2050.

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

On the image below: Sulfide rich mantos in core from Cerro San Pedro, San Luis Potosí. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Second Week of November, 2020

By Jorge Cirett

During the 46th week of the year (November 9th to November 15th, 2020), at least 23 press releases were announced by companies working in Mexico. To note, five companies posted exploration advances on their projects and six more posted on project development. ON MEXICO ISSUES, Canadian mining investment increased during the COVID pandemic; a webinar about lithium in Mexico was held; the illegal blockade on Equinox’s Los Filos mine in Guerrero ended and the Discoveries Conference was held in Guadalajara, the first in-person gathering of the mining community since the pandemic began. ON EXPLORATION, in Sonora, Colibri released trench results from Evelyn; Tarachi Gold is mobilizing a portable diamond drill to the San Javier concession on its Tarachi property. In Sinaloa, Vizsla released assays from drilling at Panuco; Kootenay released drill results from Copalito. In Zacatecas, Advance Gold completed an IP survey.  ON MINING, Sierra Metals, Equinox and Americas Gold and Silver released third quarter 2020 results. Americas Gold and Silver updated on the Cosalá Complex situation in Sinaloa. ON FINANCING, Silver Bull and Candente Gold raised US$150 K and $200 K respectively. Aura Minerals made some clarifications on its latest public offering. Reyna Silver is now trading in USA and Germany. ON RESOURCES AND DEVELOPMENT, Mexican Gold released high grade drill results from its resource expansion program at Las Minas, Veracruz. Endeavour Silver released high-grade intercepts on Guanaceví, Durango. Discovery Metals released interesting results from drilling at its Cordero project in Chihuahua. GoGold informed on additional drill results from Los Ricos North project in Jalisco. Southern Silver Exploration informed on drill results from its Cerro Las Minitas project in Durango, some of which are high-grade. SilverCrest Metals updated on development activities at its Las Chispas project in Sonora.  ON DEALS AND CORPORATE ISSUES, Magna Gold optioned the Margarita project from Sable Resources (a property brought to Sable’s attention by Gambusino Prospector). VanGold Mining amended its option agreement to re-purchase three of four underlying royalties at its El Pinguico project in Guanajuato. ON SOCIAL RESPONSIBILITY. Fresnillo PLC promotes the creation of micro and small businesses in the Caborca region in Sonora.

ON MEXICO ISSUES

  • The COVID-19 pandemic saw investments by Canadian miners increase in Mexico, from US$30 M to US$160 – US$170 M a month during last September, according to Douglas Coleman, CEO of Mexico Mining Center. The increase in precious metal prices brought also an average increase of 30% on the valuation of companies in the Bolsa Mexicana de Valores (BMV) during the first 10 months of the current year.
  • The illegal blockade by the Carrizalillo community on Equinox’s Los Filos mine in Guerrero has been lifted, according to Jorge Zuriel de los Santos, head of the Fiscalía General del Estado de Guerrero (State Prosecutor).
  • The webinar “The truth about lithium in Mexico” was held on November 11, 2020, sponsored by Mundo Minero, the Colegio de Ingenieros de Minas, Metalurgistas y Geólogos de México (CIMMGM) and the Asociación de Ingenieros Mineros, Metalurgistas y Geólogos de México (AIMMGM).

ON EXPLORATION

  • Colibri Resource Corp. released assay results from the trenching program at its Evelyn project in Sonora. Highlighted results include 0.40 m @ 4.01 gpt Au on a quartz vein with oxidized pyrite, sericite and iron carbonate; 1.5 m @ 2.44 gpt Au in an andesite with quartz veining with oxidized pyrite and iron carbonate; Colibri has been granted a permit to complete up to 2.2 Km of trenching, and has collected 77 rock samples so far in these 1.5 m to 2.5 m deep trenches.
  • Vizsla Resources Corp. provided assay results from drilling on the Papayo and San Carlos prospects at its Panuco project in Sinaloa. “Drilling has continued to expand the known extents of mineralization at Papayo” with highlighted true width (TW) results comprising: 0.74 m @  7.96 gpt Au, 1,515 gpt Ag, 0.50% Pb, 1.21% Zn; 1.29 m @ 0.61 gpt Au, 125 gpt Ag; 0.78 m @ 2.66 gpt Au, 474 gpt Ag, 1.04% Pb, 2.80% Zn; 0.95 m @ 21.60 gpt Au, 216 gpt Ag, 1.91% Pb, 6.02% Zn; 1.49 m @ 1.0 gpt Au, 207 gpt Ag, 0.56% Pb, 1.32% Zn; 1.37 m @ 1.31 gpt Au, 168 gpt Ag; 5.61 m @ 1.05 gpt Au, 89 gpt Ag, 0.74% Pb, 1.9% Zn. “The San Carlos structure is wide lower grade bulk tonnage target with an average width of 11.5m and a range from 3.35m to 22.8m” with highlighted TW intercepts comprising 15.62 m @ 0.91 gpt Au, 110 gpt Ag (including 4.78 m @ 2.19 gpt Au, 230 gpt Ag); 19.20 m @ 0.30 gpt Au, 53 gpt Ag; 17.18 m @ 0.45 gpt Au, 67 gpt Ag (including 4.59 m @ 0.97 gpt Au, 147 gpt Ag); 22.76 m @ 0.26 gpt Au, 43 gpt Ag.
  • Advance Gold Corp. completed an induced polarization (IP) survey on its Tabasqueña project in Zacatecas. The new IP survey highlights two wide and closely spaced high chargeability anomalies, with the strongest being on the western part of the new grid. “For both targets, the associated chargeability anomaly is deeply seated (> 250 to 300m) while their origin is linked to two distinct wide mineralized systems. The western anomaly appears to remain open laterally to the north and south within the property limits”.
  • Tarachi Gold Corp. is mobilizing a man portable diamond drill rig to commence drill testing the high-grade gold bearing structures on the San Javier concession, part of its Tarachi project in Sonora. The drill program will focus on a NW trending shear structure where previous drill holes intercepted 5.0 m @ 34.5 gpt Au and 3.0 m @ 24.3 gpt Au. Mineralization is hosted in andesitic volcanic rocks, flanked by an intrusive rock, and the shear zone at San Javier remains open along strike and to depth, with the possibility of an extension under cover.
  • Kootenay Silver Inc. released results from the last seven holes on its 4,153 m drilling program at Copalito, in Sinaloa.  Highlighted intercepts comprise 9.05 m @ 2.09 gpt au, 124 gpt Ag, 0.8% Pb+Zn (including 2.25 m @ 6.65 gpt Au, 335 gpt Ag, 2.6% Pb+Zn, including 0.51 m @ 16.95 gpt Au, 369 gpt Ag, 3.74% Pb+Zn); 27.4 m @ 60 gpt Ag, 0.28 gpt Au, 0.4% Pb+Zn; 10 m @ 128 gpt Ag, 0.65 gpt Au, 1.13% Pb+Zn (including 2.25 m @ 484 gpt Ag, 2.18 gpt Au, 2.86% Pb+Zn).

ON MINING

  • Sierra Metals Inc. Released consolidated third quarter results for 2020, with some figures from its Mexican operations. The Bolivar Mine in Chihuahua processed 410.5 K tonnes in the quarter, a record representing a 24% increase over Q3 2019, at 4,691 tpd, and in track to reach the targeted 5,000 tpd during Q4 2020. The Cusi mine, also in Chihuahua, produced a record 304 K Oz Ag, with an ore throughput of 1,074 tpd.
  • Equinox gold Corp. reported its third quarter 2020 financial and operating results, without detailing figures from its Mexican operations. At Los Filos, the Guadalupe open pit and Bermejal underground proceeded for July and August, but were suspended by an illegal blockade by the community on September 3rd. “Optimization study for new carbon-in-leach plant, heap leach expansion, updated mine planning and a Mineral Reserve and Mineral Resource update targeted for completion in early 2021”.
  • Americas Gold and Silver Corp. reported financial and operational results for the third quarter 2020, including an update on its Mexican operations. At Cosalá, in Sinaloa “In August 2020, the Company announced that the illegal blockade had been resolved to permit some Company personnel the opportunity to re‐enter the mine operations.    This access has not been maintained.  With the re‐opening of Mexican government offices in August, the Company’s employees were expected to vote in September 2020 for new union representation and did so on September 17.  In advance of the vote, a number of irregularities came to light, which indicated that there could not be a fully democratic vote with freedom of association. As a result, the Company does not believe there are conditions currently present to invest the required capital to re‐start the Cosalá Operations.  The Company continues to work with all legitimate stakeholders and remains hopeful that a resolution, consistent with the rule of law and featuring an election free from threats and intimidation, can be achieved so that operations can re‐commence in the near term”. The company also finalized the option agreement with Hochschild to acquire 100% of the San Felipe project in Sonora.

ON FINANCING

  • Aura Minerals Corp. made some clarifications regarding the secondary public offering of Brazilian depositary receipts issued by Itaú Unibanco S.A. as depositary. “The total gross proceeds of the Secondary Offering to the Selling Shareholders are R$87,300,000.00, of which an aggregate of R$19,400,000 is in respect of the Shares offered, severally, by the ARC Funds and R$67,900,000 is in respect of the Shares offered by Ruffer. The Company will not receive any proceeds from the Secondary Offering” (Aranzazú, Zacatecas).
  • Silver Bull Resources Inc. completed the second and final tranche of the previously announced private placement, for gross proceeds of US$150 K, and aggregate gross proceeds of US$1.7 M (Sierra Mojada, Coahuila).
  • Reyna Silver Corp. announced its common shares have been approved for listing on the OTCQB Market Exchange in the United States and the Frankfurt Stock Exchange in Germany.
  • Candente Gold Corp. advised that the previously announced non-brokered private placement has been fully subscribed, for gross profits of $200K (El Oro, Estado de Mexico).

ON RESOURCES AND DEVELOPMENT

  • Mexican Gold Mining Corp.  released further assay results from the 2020 drilling program at its Las Minas project in Veracruz. Most of the 52 holes drilled so far have been targeting potential extensions to the El dorado resource, which remains open in several directions. Highlighted true width (TW) intercepts comprise 4.6 m @ 1.41 gpt Au, 0.55% Cu; 15.3 m @ 1.21 gpt Au, 1.1% Cu; 3.2 m @ 3.74 gpt Au, 3.76% Cu; 8.5 m @ 4.86 gpt Au, 1.17% Cu; 17 m @ 1.2 gpt Au, 0.85% Cu; 11.6 m @ 1.56 gpt Au, 1.03% Cu; 11.6 m @ 4.38 gpt Au, 1.84% Cu; 28.5 m @ 2.8 gpt Au, 1.12% Cu; 8.0 m @ 1.9 gpt Au, 0.36% Cu; 7.4 m @ 3.46 gpt Au, 5.08% Cu; 5.3 m @ 0.4 gpt Au, 0.83% Cu.
  • Endeavour Silver Corp. continues to intersect high-grade mineralization in the Santa Cruz vein on the El Curso property of the Guanaceví mine in Durango. Highlighted TW intersections on eleven holes comprise 3.2 m @ 2,307 gpt Ag, 3.15 gpt Au (2,559 gpt AgEq); 3.1 m @ 1,409 gpt Ag, 3.13 gpt Au (1,659 gpt AgEq) and 11.5 m @ 381 gpt Ag, 0.5 gpt Au.
  • Discovery Metals Corp. released results from seven diamond drill holes targeting bulk-tonnage mineralization in the South Corridor at its Cordero project in Chihuahua. Some of the highlighted results comprise 71.2 m @ 18 gpt Ag, 0.06 gpt Au, 0.2% Pb, 0.7% Zn; 139.1 m @ 47 gpt Ag, 0.07 gpt Au, 0.6% Pb, 1.6% Zn (138 gpt AgEq); 26.6 m @ 56 gpt Ag, 0.09 gpt Au, 0.4% Pb, 0.7% Zn; 19.4 m @ 41 gpt Ag, 0.06 gpt Au, 0.5% Pb, 1.2% Zn; 29.6 m @ 52 gpt Ag, 0.07 gpt Au, 0.8% Pb, 0.8% Zn; 92.1 m @ 27 gpt Ag, 0.05 gpt Au, 0.2% Pb, 0.4% Zn; 32.4 m@ 72 gpt Ag, 0.07 gpt Au, 0.3% Pb, 0.1% Zn; 38.4 m @ 36 gpt Ag, 0.04 gpt Au, 0.6% Pb, 0.7% Zn; 33.9 m @ 30 gpt Ag, 0.07 gpt Au, 0.5% Pb, 0.7% Zn; 62.2 m @ 38 gpt Ag, 0.07 gpt Au, 0.4% Pb, 0.7% Zn; 57.1 m @ 18 gpt Ag, 0.01 gpt Au, 0.2% Pb, 1.0% Zn. Assays from 27 holes are pending and four rigs are operating at the site.
  • GoGold Resources Inc. released additional drill results from the La Trini deposit at its Los Ricos North project in Jalisco. Highlighted core length intercepts comprise 25.9 m @ 0.34 gpt Au, 52 gpt Ag (including 4.7 m @ 0.81 gpt Au, 124 gpt Ag); 2.4 m @ 0.05 gpt Au, 300 gpt Ag; 18.7 m @ 0.58 gpt Au 46 gpt Ag; 18.2 m @ 0.11 gpt Au, 48 gpt Ag; 15.2 m @ 0.71 gpt Au, 71 gpt Ag (including 2.0 m @ 3.55 gpt Au, 284 gpt Ag and 1.3 m @ 4.20 gpt Au, 733 gpt Ag).
  • Southern Silver Exploration Corp. reported initial assay results from the recently started 10,000 m core drilling program at Cerro Las Minitas, Durango. Highlighted true width results from holes in the South Skarn target comprise 4.0 m @ 109 gpt Ag, 0.14 gpt Au, 0.02% Cu, 1.8% Pb, 2.1% Zn (including 0.9 m @ 412 gpt Ag, 0.14 gpt Au, 0.06% Cu, 7.8% Pb, 9.2% Zn); 0.8 m @ 132 gpt Ag, 0.12 gpt Au, 0.02% Cu, 2.8% Pb, 2.0% Zn; 1.1 m @ 54 gpt Ag, 2.83 gpt Au, 0.01% Cu, 3.6% Pb, 0.4% Zn; 3.2 m @ 99 gpt Ag, 0.27 gpt Au, 0.01% Cu, 0.7% Pb, 0.6% Zn; 6.7 m @ 625 gpt Ag, 0.11 gpt Au, 0.03% Cu, 11.8% Pb, 7.5% Zn; 1.2 m @ 112 gpt Ag, 0.07 gpt Au, 2.2% Pb, 2.1% Zn.
  • SilverCrest Metals Inc. provided an update on activities for 2020. During the first nine months of the year the company has drilled 146,000 m of in-fill and expansion drilling at Las Chispas project in Sonora. Furthermore, 4.1 km of underground decline and lateral drifting, stockpiling an accumulated 47 K tonnes @ 1,130 gpt AgEq (7.21 gpt Au, 590 gpt Ag). “Las Chispas site activities continued with the building of the administration and warehouse facilities, phase 1 of the temporary quarantined COVID-19 camp, communication system, and water pumping stations”. Since inception of the project, 461,000 m have been drilled in 1,712 holes. As October 31, 2020, SilverCrest has cash and cash equivalents of $184 M (US$138.2 M).

ON DEALS AND CORPORATE ISSUES

  • Magna Gold Corp. entered into a definitive option acquisition agreement with Sable Resources Ltd. To acquire Sable’s option to acquire 100% interest in the 125.6 ha Margarita silver property in Chihuahua; the property lies 15 Km northwest on strike with the recently commissioned Sunshine Silver Corp’s Los Gatos mine. Magna is to acquire the option by paying CAD$1.5 M cash, plus additional CAD$800 K VAT and CAD$3.5 M in common shares of Magna. The purchaser will exercise the option to acquire the property by payment of CAD$500 K in cash, plus $368 K in VAT to the titleholders of the concessions and CAD$1.8 M in Magna shares. Sable drilled 35 holes for a total of 5,245 m, with intercepts like: 4.25 m @ 430 gpt Ag, 0.2% Pb, 0.7% Zn; 12.4 m @ 446 gpt Ag, 0.7% Pb, 1.0% Zn; 14.05 m @ 306 gpt Ag, 0.7% Pb, 1.9% Zn; 11.3 m @ 229 gpt Ag, 1.0% Pb, 0.3% Zn; 33.3 m @ 283 gpt Ag, 0.3% Pb, 0.8% Zn (including 9.9 m @ 579 gpt Ag, 0.8% Pb, 1.7% Zn); 20.6 m @ 83 gpt Ag, 0.1% Pb, 0.3% Zn (including 5.1 m @ 198 gpt Ag, 0.2% Pb, 0.3% Zn); 48.65 m @ 102 gpt Ag, 0.1% Pb, 0.4% Zn; 37.35 m @ 117 gpt Ag, 0.17 gpt Au, 0.2% Pb, 0.7% Zn (including 5.5 m @ 400 gpt Ag, 1.07 gpt Au, 1.1% Pb, 0.4% Zn).
  • VanGold Mining Corp. amended its option agreement to re-purchase three of the four underlying royalties on its Pinguico project, Guanajuato. Under the new terms the option is exercisable by making payments to EMBSA (Exploraciones Mineras del Bajío, S.A. de C.V.) of $200 K cash and 3.75 M shares before November 20, 2020; $325 K in cash before February 22, 2021; $525 K in cash before February 22, 2022 and $625 K in cash before February 22, 2023. After these payments are made, the only NSR on the property will cover the above ground and below ground stockpiles. 

ON SOCIAL RESPONSIBILITY

  • Fresnillo PLC promotes the creation of micro and small businesses by means of its “Emprende en Línea” (Online Entrepreneurship) program, to develop administrative and managerial capabilities to consolidate businesses. For more than two decades Minera Penmont has contributed to the growth of the Caborca region through the implementation of social programs.

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

On the image below: Base metal veinlet in core from Cerro San Pedro, San Luis Potosí. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the First Week of November, 2020.

Banded quartz vein

By Miguel A Heredia

During the forty five week of the year (November 2nd to October 8th, 2020), at least 28 press releases were announced by companies working in Mexico and 1 news published by the media, with ten communicating production and financial results, eight informing on exploration results, five reporting on resources and development of their mine operations, three announcing financial rounds, two disclosing deals and corporate issues and one discussing social issues. ON MEXICO ISSUES, no relevant news.  ON EXPLORATION, In Sonora, Carlyle and its JV partner Riverside received results from the geophysical survey carried out at its Cecilia project. In Chihuahua, Mammoth provided an update of the current activities it is performing at its Tenoriba project and Consolidated revealed exploration plans for its La Chona-Enrique and Potreros gold prospects. In Sinaloa, Brigadier announced that the first five core drill holes collared at its Picachos property have intersected the San Agustin Vein and Oroco announced progress of a 3D IP geophysical survey on its Santo Tomas project.  In Durango, Mithril presented drill results from its Copalquin project. In Jalisco, GoGold released drill results from its Los Ricos Norte project.  ON MINING, Gold Resource, Torex, Premier, Magna Gold, Endeavour Great Panther, First Majestic, Golden Minerals, and Pan American Silver reported Q3, 2020 production and / or financial results from their Mexican operations while Consolidated Zinc announced October 2020 production from its Plomosas mine in Chihuahua.   ON FINANCING, Gatos Silver completed its initial public offering and commencement of trading on the New York Stock Exchange and the Toronto Stock Exchange (Los Gatos mine, Chihuahua). Orla Mining completed the second tranche drawdown of USD $50M (Camino Rojo project, Zacatecas). Candente announced its intention to complete a non-brokered private placement for gross proceeds of up to $200K (El Oro project, State of Mexico).  ON RESOURCES AND DEVELOPMENT, SilverCrest announced new high grade discovery at its Las Chispas project in Sonora. Golden Minerals provided a business summary for the Q3, 2020 period (Rodeo property, Durango). Sonoro Gold announced drill results from its Cerro Caliche project in Sonora. Consolidated Zinc provided an update of its Plomosas operation in Chihuahua. Magna Gold provided a mine performance and operational update from its San Francisco mine in Sonora.  ON DEALS AND CORPORATE ISSUES, Aura announced results from its annual general and special meeting of shareholders (Aranzazu mine, Zacatecas). Defiance announced several appointments to its executive and management team (San Acacio project, Zacatecas). Mammoth reached agreement to extend surface access for two years with one of the two communities at its Tenoriba project in Chihuahua. ON SOCIAL RESPONSIBILITY, Minera Peñasquito continues supporting the communities in their fight against the COVID-19 pandemic.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Carlyle Commodities Corp. and it JV partner Riverside Resources Inc., received results from the 3.8 Km-line IP survey in five lines carried out across the Cerro Magallanes at its Cecilia project in Sonora. The IP survey defined resistive anomalies in an area where previous operators drilled 30m of 1.41 g/t Au. Carlyle has refined and detailed drill targets with the IP survey using 50-m dipole spacing. Carlyle and Riverside are expecting results in the upcoming weeks including a drone aeromagnetic survey and a batch of channel samples covering the E-W extension between The San Jose and Central targets.
  • Mammoth Resources Corp., provided an update of the current activities it is performing at its Tenoriba project in Chihuahua. Mammoth is advancing the 3D interpretation of its 2015 IP-Mag survey to enhance the understanding of features that appear to control mineralization intersected in previous drilling campaigns. It is also planning to conduct an additional up to 72 line-km IP-Mag to cover gap areas at El Moreno target where coarse gold nuggets were reported to occur. This additional survey is also planning to cover east and west of the eastern and western most areas covered by the past survey where the trend of the mineralization remains open.
  • Consolidated Zinc Limited revealed exploration plans for its La Chona-Enrique and Potreros gold prospects in Chihuahua. The company has engaged an experienced senior geologist to develop a deeper understanding of the gold mineralization within the regional concessions.
  • Brigadier Gold Limited announced that the first five core drill holes collared at its Picachos property in Sinaloa have intersected the San Agustin Vein up to 180 m below surface. The company has already sent the core samples of the five holes to the lab. Assays will be released upon completion of the analytical work.
  • Oroco Resource Corp., announced that approximately 40% of a 3D IP geophysical survey has been completed on its Santo Tomas project in Sinaloa. The IP survey was designed to cover an area of approximately 10 square kilometers of the property which will encompass the mineralized South Zone, North Zone and exploration targets in the Brasiles Zone. Results to date have shown a strong correlation between chargeability features and the historical drill results in the known sulphide mineralization at the South Zone, represented by a chargeability high and resistivity low response that spans 1Km wide by 1.2km long located below the volcanic and limestone units and above contact with an inferred Laramide batholiths exposed to the south and west of the South Zone. The responses are open at depth and to the east.
  • Mithril Resources Ltd., presented drill results from El Refugio target at its Copalquin project in Durango. The company also has drilled the Cometa target but assays are pending. At El Refugio target, significant drill intercepts were encountered in hole CDH-015 with 4.48 g/t Au and 119 g/t Ag (5.97 g/t AuEq) over 3.85m, including 6.32 g/t Au and 187 g/t Ag (8.66 g/t AuEq over 2.15m; hole CDH-019 with 2.05 g/t Au and 52 g/t Ag (2.71 g/t AuEq) over 3m; hole CDH-020 with 3.07 g/t Au and 94 g/t Ag (4.24 g/t AuEq) over 8.7m, including 7.52 g/t Au and 184 g/t Ag (9.82 g/t AuEq) over 2.9m, including 5.08 g/t Au and 117 g/t Ag (6.55 g/t AuEq) over 1.5m. Holes CDH-022 to 025 also intersected the Refugio Breccia but assay are pending. Mithril also announced that the drill will be moved to test the Los Pinos, Reyes, Constancia and Apolonia targets.
  • GoGold Resources Inc., released drill results from La Trini at its Los Ricos Norte project in Jalisco. Significant drill intercepts were encountered in hole LRGT-20-046 with 1.55 g/t Au and 70 g/t Ag (2.48 g/t AuEq or 186 g/t AgEq) over 17.2m, including 2.1 g/t Au and 109 g/t Ag (3.56 g/t AuEq or 267 g/t AgEq) over 11m; and hole LRGT-20-048 with 0.48 g/t Au and 54 g/t Ag (1.2 g/t AuEq or 90 g/t Ag) over 29.8m, including 1.96 g/t Au and 141 g/t Ag (3.84 g/t AuEq or 288 g/t AgEq) over 4.9m.  

ON MINING

  • Gold Resource Corporation reported Q3, 2020 production results from its Oaxaca Mining Unit in Oaxaca. The company processed 153,531 tonnes to produce 4,728 Oz Au, 324.6K Oz Ag, 943.6K Lb Cu, 4.76M Lb Pb, and 12.2M Lb Zn during Q3, 2020. Through the first three quarters, Gold Resource has processed 415,584 tonnes to produce 13,619 Oz Au, 912.5K Oz Ag, 2.56M Lb Cu, 12.8M Lb Pb, and 31.7M Lb Zn.
  • Torex Gold Resources Inc., announced Q3, 2020 production and financial results from its El Limon-Guajes Mining Complex in Guerrero. The company mined 1.52M of 3.15 g/t Au and processed 1.18M tonnes of 3.83 g/t Au at a metallurgical recovery of 89%. Torex produced 131.8K Oz Au at a cash cost and AISC of USD $633 and USD $877 per Oz respectively, and sold 133K Oz Au. The company reported revenues of USD $256.5M, cost of sales of USD $153.5M for a net income of USD $60.3M. It also reported adjusted net earnings of USD $51.3M, an EBIDTA and adjusted EBIDTA of USD $162.9M and USD $156.2M respectively. As at the end of September, cash position totaled USD $204M.
  • Premier Gold Mines Limited, released Q3, 2020 production and financial results from its Mercedes mine in Sonora. The company milled 117,751 tonnes of 3.37 g/t Au and 32 g/t Ag at metallurgical recoveries of 95.6% and 40.8% respectively to produce 12,183 Oz Au and 49,975 Oz Ag. Cash cost and AISC were USD $608 and USD $885 per Oz Au sold respectively. The company reported gold revenue of USD $20.3M and silver revenue of USD $1.2M (USD $21.5M total).
  • Magna Gold Corp., presented Q3, 2020 production results from its San Francisco mine in Sonora. The company sold 7,473 Oz Au.
  • Endeavour Silver Corp., reported Q3, 2020 consolidated production and financial results from its Mexican operations. The company produced 932.8K Oz Ag and 10K Oz Au at a cash and AISC of USD $3.69 and USD $17.48 per Oz payable Ag respectively. Endeavour reported revenue of USD $35.6M from the sale of 741.3K Oz Ag and 8,997 Oz Au, a cash flow of USD $10.3M before working capital changes, and a net income of USD $0.5M for a cash position of USD $44.9M and working capital of USD $53.8M.
  • Great Panther Mining Limited, released consolidated production results from their Mexican operation in Durango and Guanajuato for the period Q3, 2020. Great Panther mined 65,393 tonnes and milled 65,393 tonnes with a grade of 1.31 g/t Au or 311 g/t AgEq. 
  • First Majestic Silver Corp., announced Q3, 2020 production results from their Mexican operations. Figures for each operation are shown in the table below:

Cash and AISC were USD $2.49 and USD $9.94 per Oz Ag produced respectively. The company reported revenues of USD $125.9M, mine operating earnings of USD $48M, net earnings of USD $30.9M, cash and cash equivalents of USD $232.4M and working capital of USD $266.7M.

  • Golden Minerals Company announced consolidated financial results for the Q3, 2020 period. Golden reported revenue of USD $2.1M and a net operating margin of USD $1.6M related to the lease of its oxide´s plant to Hecla Mining Co., as well as a cash and cash equivalents balance of USD $8.7M.
  • Pan American Silver Corp., presented production and financial results for the period Q3, 2020 from its La Colorada mine in Zacatecas and Dolores mine in Chihuahua. At La Colorada mine in Zacatecas, Pan American produced 1.44M Oz Ag at a cash and AISC cost of USD $6.54 and USD $10.07 per Oz Ag produced respectively. At Dolores mine in Chihuahua, the company produced 871K Oz Ag at a cash and AISC of USD $5.12 and USD $22.92 per Oz Ag produced respectively.
  • Consolidated Zinc Limited reported October 2020 production from its Plomosas mine in Chihuahua. The company produced 216K Lb Pb and 584.2K Lb Zn resulting in sales of approximately USD $820K. Metallurgical recoveries were 72%Zn to Zn concentrates and 39% Pb to Pb concentrates.

ON FINANCING

  • Gatos Silver Inc., completed its initial public offering and commencement of trading on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol “GATO”. Net proceeds will be used to increase Gatos Silver´s ownership in the Los Gatos District, explore and define further mineral resources within the 103,000 Ha of mineral concessions in the Los Gatos District, fund a future production expansion study at Cerro Los Gatos, retire high-cost debt, and for general corporate purposes.
  • Orla Mining Ltd., completed the second tranche drawdown of USD $50M on its previously announced project finance facility (credit facility). The funds will be used to develop its Camino Rojo project in Zacatecas.    To date, USD $75M of the USD $125M credit facility has been drawn. The third and final tranche of US$50 million must be drawn within six months of the second tranche and remains subject to meeting certain conditions precedent.
  • Candente Gold Corp., announced its intention to complete a non-brokered private placement for gross proceeds of up to $200K. Gross proceeds will be used to advance drill targets on its El Oro property in the State of Mexico, build a cash flowing business platform and gain access to properties with near surface exploration potential and for general working capital purposes.

ON RESOURCES AND DEVELOPMENT

  • SilverCrest Metals Inc., announced the discovery of the El Muerto zone, a new high grade discovery in the northwest part of the Babicanora Vein at its Las Chispas project in Sonora. The company has drilled 11,350m in 45 holes within El Muerto to expand high grade deeper in the Babicanora area. Highlights include hole EM20-37 with 12.68 g/t Au and 1,724 g/t Ag (2,675 g/t AgEq) over a true width (TW) of 1.5m, and hole EM20-35 with 9.46 g/t Au and 720 g/t Ag (1,430 g/t AgEq) over a TW of 1m. El Muerto has an estimated high-grade footprint of 500m along strike and 100-200m below the current resource in the Babicanora Vein. A weighted average of these drill results is 5.27 g/t Au and 389 g/t Ag (784 g/t AgEq) over a TW of 1.1m. El Muerto will be included in the updated resource that will be issued with the ongoing FS.
  • Golden Minerals Company provided a business summary for the Q3, 2020 period and announced planes for the development of its Rodeo property in Durango. Golden has completed the infill/definition drilling in preparation for projected production in Q1, 2021. It also commenced the installation of a new regrind mill circuit at its Velardeña´s oxide mill to improve recoveries and throughput of ore material projected to come from Rodeo project in 2021.
  • Sonoro Gold Corp., released results from 12 RC holes collared at its Cerro Caliche project in Sonora. Highlights include holes SCR-104 and SCR-106 collared at Japoneses with 1.28 g/t Au over 15.24m and 0.85 g/t Au over 16.76m respectively; holes SCR-096 and SCR-097 collared at Buena Suerte with 0.84 g/t Au over 16.76m and 0.51 g/t Au over 12.19m respectively. The company expects that these results will add ounces to the Cerro Caliche´s existing 201K Oz AuEq inferred resource estimate. Sonoro also drilled PQ core holes to obtain ore material to run metallurgical tests. “Management is expanding its development plans from the previously announced pilot level project to assess the economic viability of a proposed 8,000 ton per day mining operation”.
  • Consolidated Zinc Limited provided an update of its Plomosas operation in Chihuahua. Consolidated has commenced the reimbursement of its processing plant. A ball mill with capacity for 200 tonnes per day was identified, inspected and purchased. It also identified a flotation cells which plans to purchase.
  • Magna Gold Corp., provided a mine performance and operational update from its San Francisco mine in Sonora. The company is focused on establishing its San Francisco mine as a stable and profitable operation. Magna is advancing an underground decline to reach a higher grade vein system by the end of 2020. It also is conducting exploration drilling around its existing pits to expand the mineralized envelope as well as to indentify higher-grade underground mineral resource. Additionally, Magna has been pre-stripping both the San Francisco and La Chicharra open pits, and has been processing lower grade stockpile material and, more recently, fresh ore from the open pits. It has generated operating profit that has been re-invested into the mine. Magna remains on track to bring the San Francisco mine to full-scale operations in 2021.

ON DEALS AND CORPORATE ISSUES

  • Aura Minerals Inc., announced results from its annual general and special meeting of shareholders (Aranzazu mine, Zacatecas).
  • Defiance Silver Corp., announced several appointments to its executive and management team including its VP Exploration, VP of Corporate Development and Senior Technical Advisor, and Principal Geologist. The company also granted incentive stock options to certain directors, officers, employees, and consultants.
  • Mammoth Resources Corp., reached agreement to extend surface access for two years with one of the two communities at its Tenoriba project in Chihuahua. The company plans to meet with members of the second community and expects to obtain a similar two years extension agreement enabling Mammoth to advance exploration activities on its Tenoriba project. Meanwhile, the company awaits approval of a drill permit for up to 139 drill sites submitted in August, 2020.

ON SOCIAL RESPONSIBILITY

  • Minera Peñasquito continues supporting the communities in the fight against the COVID-19 pandemic. The company donated 10,000 one-liter gel bottles, 25,000 three-layer face masks, 500 KN95 face masks, and 1,500 plastic face mask.

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, banded quartz from a low sulphidation epithermal vein system in a prospect in Chihuahua, Mexico.  Photo by Miguel A Heredia.

SONORO ANNOUNCES INITIAL DRILLING RESULTS AND FAST-TRACK TO GOLD PRODUCTION IN 2021

20201104-Sonoro-Announces-Initial-Drilling-Results

VANCOUVER, Canada, November 4, 2020 – Sonoro Gold Corp. (TSXV: SGO), formerly known as Sonoro Metals Corp. (TSXV: SMO) | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce assay results from 12 reverse-circulation (RC) drill holes at its Cerro Caliche project in Sonora State, Mexico.  These results reflect all assays received to date from the Company’s ongoing RC drilling program focused on expanding four of the 17 gold mineralization zones at Cerro Caliche. Highlights include key intercepts at the premier Japoneses and Buena Suerte zones.