Vancouver, British Columbia — Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull”) is pleased to announce it has identified a new zone of high grade massive sulphide at its Sierra Mojada Project in Coahuila, Northern Mexico.
Highlights from select channel samples in the new sulphide zone include;
Highlights from the channel sampling program include:
The new sulphide zone lies within a 1.4 kilometer long east-west trending “chargeability high” identified through a gradient Induced Polarization (IP) survey. This east-west trending zone hosts two other zones Silver Bull has identified with sulphide mineralization which grade up to 690g/t silver, 35% zinc, 19% lead and 1% copper as well and also includes Silver Bull’s only significant sulphide drill hole intercept of 8.45m @ 57g/t silver, 5.45% lead, 16.98% Zinc.
The chargeability anomaly remains open towards the west and coincides with a convex “roll over” in the sole of a thrust fault identified through drilling and underground mapping.
The new zone of massive sulphide is accessible via existing historical underground workings.
VANCOUVER, BC–(Marketwired – August 03, 2017) – Almadex Minerals Limited (“Almadex” or the “Company”) (TSX VENTURE: AMZ) (OTCQX: AXDDF) is pleased to announce it has received assay results from hole EC-17-027 of the 2017 Norte drilling program. EC-17-027 was drilled to target and expand the high grade mineralisation, and intersected multiple zones of intense stockwork veining and potassic alteration accompanied by significant copper and gold grades. Highlights from hole EC-17-027 include the following intercepts all of which are also shown on the attached plan and section:
Hole EC-17-027 NORTE ZONE, 330 Az, -60 dip
From 191.85 to 468.65, 276.80 meters @ 0.67 g/t gold and 0.23% copper (0.99 g/t AuEq; 0.72% CuEq)
Including 193.85 to 297.70, 103.85 meters @ 1.33 g/t gold and 0.41% copper (1.89 g/t AuEq; 1.38% CuEq)
From 582.60 to 677.00, 94.40 meters @ 0.73 g/t gold and 0.25% copper (1.07 g/t AuEq; 0.78% CuEq)
Including 587.00 to 649.00, 62.00 meters @ 0.97 g/t gold and 0.31% copper (1.40 g/t AuEq; 1.02% CuEq)
1 Gold equivalent (“AuEq”) and copper equivalent (“CuEq”) values are calculated assuming 100% recoveries and prices of US$1,250/oz gold and US$2.50/lb copper.
VANCOUVER, B.C. Almadex Minerals Limited (“Almadex” or the “Company”) (TSX-V: AMZ; OTCQB: AXDDF) is pleased to announce it has received assay results from hole EC-17-026 of the 2017 Norte drilling program. EC-17- 026 was drilled to target and expand the high grade mineralisation and intersected multiple zones of intense
stockwork veining and potassic alteration accompanied by significant copper and gold grades. Highlights from hole EC-17-026 include the following intercepts all of which are also shown on the attached plan and section:
Hole EC-17-026 NORTE ZONE, 150 Az, -40 dip
From 204.10 to 636.00, 431.90 meters @ 0.86 g/t gold and 0.27% copper (1.23 g/t AuEq; 0.90% CuEq)
Including 282.75 to 405.95, 123.20 meters @ 0.82 g/t gold and 0.33% copper (1.27 g/t AuEq; 0.93% CuEq)
And 365.50 to 405.95, 40.45 meters @ 1.38 g/t gold and 0.43% copper (1.97 g/t AuEq; 1.44% CuEq)
And 375.50 to 396.50, 21.00 meters @ 1.91 g/t gold and 0.57% copper (2.69 g/t AuEq; 1.96% CuEq)
And 444.80 to 491.00, 46.20 meters @ 1.04 g/t gold and 0.29% copper (1.44 g/t AuEq; 1.05% CuEq)
And 539.45 to 609.90, 70.45 meters @ 2.32 g/t gold and 0.59% copper (3.13 g/t AuEq; 2.28% CuEq)
1 Gold equivalent (AuEq) and copper equivalent (CuEq) values are calculated assuming 100% recoveries and prices of US$1,250/oz gold and US$2.50/lb copper.
During the 12th week of the year (March 20th to March 26th, 2017), at least 21 press releases were announced by companies working in Mexico. ON EXPLORATION, Southern Silver and Orex Minerals reported drilling results from their respective projects in Durango. Riverside disclosed interesting trench assay results from its project in Sonora, Silver Bull presented the results from deep drilling in Coahuila, Canasil reported drilling results from a project in Zacatecas/Durango and Alset received needed drilling permits in Zacatecas. ON MINING, Argonaut gold, Excellon, Premier Gold and Santacruz presented operating and/or financial results for 2016. ON FINANCING, Starcore closed the sale of a surface land package, and Primero Mining obtained an extension on a loan. ON RESOURCES AND DEVELOPMENT, Argonaut presented drilling results that support a potential pit expansion in Sonora, Consolidated Zinc disclosed assay results from underground sampling on its Chihuahua property, Pan American Silver filed a technical report on SEDAR regarding its mine in Chihuahua and Mexus US informed of advances on the commissioning of its Sonora mine. ON DEALS AND CORPORATE ISSUES, Lithium Australia increased its stake on a lithium property in Sonora.
Southern Silver Exploration Corp. reported drilling results for two holes at its Cerro Las Minitas project in Durango. Results include 9.9 m (True width) @ 48 g/t Ag, 0.3% Pb, 3.6% Zn; 2.9 m @ 26 g/t Ag, 0.5% Pb, 3.0% Zn; 9 m @ 601 g/t Ag, 7.1% Pb, 17.9% Zn. The results table mentions “dilution” ranging from 38% to 61%, meaning perhaps poor core recovery.
Riverside Resources Inc. reported assays from trench sampling at its Glor project in Sonora, funded by partner Centerra Gold Inc. Results from the Pitaya target area include 105 m @ 0.49 g/t Au, 84 m @ 0.53 g/t Au, 12 m @ 0.64, 36 m @ 0.34 g/t Au. A first-phase drill program is being planned, with 2,000 m to test the Pitaya zone and previously reported induced polarization anomalies.
Silver Bull Resources Inc. disclosed assay and geologic results from five deep holes (515-833 m depth) targeting high grade feeder structures at its Sierra Mojada property in Coahuila. Assay results include 50 m @ 0.15% Cu, 27 g/t Ag, 115 m @ 0.25% Zn, 81 m @ 0.64% Zn, with this last interval including 17 m @ 65 g/t Ag and 41 m @ 1.4% Pb. The holes intercepted 180, 360 and 460 m of intense silica alteration resulting in total replacement of the original country rock in places. The company interprets these results as the proximal halo to an intrusive rock source, thus providing a vectoring for future drill holes.
Canasil Resources Inc. has received assay results for three more holes at its La Esperanza project in Durango/Zacatecas. Intercepts include 0.7 m @ 0.3 g/t Au, 131 g/t Ag, 0.64% Zn, 0.23% Pb, 0.84% Cu; 2.1 m @ 38 g/t Ag, 0.5% Zn, 0.14% Pb; 2.5 m @ 63 g/t Ag, 0.5% Zn, 0.15% Pb; 4.1 m @ 33 g/t Ag, 1.0% Zn, 0.6% Pb; 1.5 m @ 51 g/t Ag, 1.9% Zn, 1.4% Pb. A further drill hole is in progress, increasing the current program to 2,00 m in seven holes.
Alset Energy Corp. has received the necessary environmental permits for drilling its La Salada lithium property in Zacatecas. The company intends to drill two holes, and make a 100-meter grid for subsurface sampling of the salar.
Orex Minerals Inc. informed that project partner Fresnillo PLC completed a phase-V exploration diamond drilling program with 11 holes in 5,214.9 m. Results include 1.22 m @ 1.5 g/t Au, 28 g/t Ag; 0.65 m @ 2.3 g/t Au, 42 g/t Ag; 31.6 m @ 0.42 g/t Au; 14.5 m @ 0.56 g/t Au; 1.0 m @ 1.31 g/t Au; 1.0 m @ 2.12 g/t Au; 0.9 m @ 0.40 g/t Au, 402 g/t Ag; 0.4 m @ 0.48 g/t Au, 812 g/t Ag; 0.9 m @ 1.01 g/t Au, 67 g/t Ag.
Argonaut Gold Inc. presented financial and operating results for 2016, which includes figures from its operations in Mexico. At El Castillo in Durango, 11.1 M tonnes of ore and 16.4 M tonnes of waste were extracted, while moving 75 K tonnes per day (tpd), at a grade of 0.37 g/t Au, producing 62,235 Oz Au at cash cost $884 per Au Oz. At La Colorada in Sonora, 11.1 M tonnes of ore and 16.4 M tonnes of waste were moved, with the ore grading 0.55 g/t Au to produce 56,492 Oz Au and 184.5 K Oz Au. The first pour of gold at San Agustin (10 km from El Castillo) is expected during the third quarter of 2017.
Excellon Resources Inc. reported operational and financial results for 2016, period during which 55,593 tonnes of ore were processed at a grade of 456 g/t Ag, 4.4% Pb, 5.7% Zn, to produce 752.7 K Oz Ag, 4.44 M Lb Pb, 5.58 M Lb Zn (with recoveries at 90.5% Ag, 82.1% Pb, 80.1% Zn). Cash cost per Ag Oz was $13.42 and all-in sustaining cost (AISC) of $33.04 per Ag Oz. An optimization plan to enable dry mining on Platosa is set to double productivity and halving costs by the second quarter of 2017. Cash, current accounts receivable and marketable securities totaled $7.7 M at the end of 2016.
Premier Gold Mines Ltd. presented operational and financial results for 2016, including figures for its Mexico operations. At Mercedes in Sonora (which was bought at the end of the third quarter) production during the fourth quarter included the milling of 175 K tonnes of ore @ 4.27 g/t Au, 44.5 g/t Ag to produce 22,481 Oz Au and 98.4 K Oz Ag, on recoveries of 94.8% Au, 39.1% Ag. Cash cost was $690 per Au Oz and AISC $811 per Au Oz including co-products. Also during the quarter 8,532 m of drilling were completed in 44 holes. Premier aims to produce 85-90 K Oz Au at Mercedes during 2017.
Santacruz Silver Mining Ltd. reported operating results from the Rosario project in San Luis Potosi and the Veta Grande project in Zacatecas, for 2016. At Rosario 93.2 k tonnes of ore were milled @ 163 g/t Ag, to produce 456.3 K Oz Ag, 454 Oz Au, 759 tonnes Pb, 2,657 tonnes Zn (Ag recovery @ 94%). At Veta Grande 28.5 K tonnes @ 56 g/t Ag were milled to produce 29,843 Oz Ag, 115 Oz Au, 232 tonnes Pb, 382 tonnes Zn (Ag recovery 58%). The Rosario mill has been processing ore from the nearby Cinco Estrellas mine, where the company has completed development work in three levels and expects to mine at a 250 tpd rate. At Veta Grande more than 2,000 m of development have been completed on two mines, furthermore, back-fill mineralized material was identified and is to be a primary source of millfeed combined with material from other mine working faces.
Starcore International Mines Ltd. announced the closing of the sale of its San Pedrito surface property in Queretaro. The property is near the Santiago de Queretaro city limits, and has gained value in recent years. The total amount paid was C$10,171,415 dollars for 55 hectares of the land package, with payments amounting over C$3 M pending for the remaining 17 hectares.
Primero Mining Corp. announced that it has agreed in principle with its lenders to an extension of its $75 M revolving credit facility, extending it for six months to November 2017.
ON RESOURCES AND DEVELOPMENT
Argonaut gold Inc. has completed a 5,139 m, 22 holes RC drill program at its La Colorada mine in Sonora, aiming to confirm resources for a pit expansion at the Creston deposit. Results include 15.2 m @ 0.62 g/t Au, 5 g/t Ag; 19.8 m @ 0.72 g/t Au, 10 g/t Ag; 12 m @ 0.44 g/t Au, 5 g/t Ag; 41.1 m @ 1.15 g/t Au, 6 g/t Ag; 27.4 m @ 0.96 g/t Au, 5 g/t Ag; 16.8 m @ 2.69 g/t Au, 3 g/t Ag; 59.4 m @ 1.24 g/t Au, 6 g/t Ag; 51.8 m @ 0.52 g/t Au, 4 g/t Ag; 48.8 m @ 0.97 g/t Au, 12 g/t Ag; 54.9 m @ 0.89 g/t Au, 5 g/t Ag; 36.6 m @ 1.22 g/t Au, 12 g/t Ag; 57.9 m @ 1.0 g/t Au, 4 g/t Ag; 132.6 m @ 1.29 g/t Au, 24 g/t Ag. These results are not included on the mineral resource estimate prepared on December 2016, which includes 13.1 M tonnes of indicated resources @ 0.63 g/t Au, 16.5 g/t Ag, for 264 K Oz Au, 6.9 M Oz Ag and 2.38 M tonnes of inferred resources @ 0.82 g/t Au, 12.1 g/t Ag, for 63 K Oz Au, 0.9 M Oz Ag.
Mexus Gold US announced that cyanide solution assays on its Santa Elena mine in Sonora (not to mistake for First Majetic’s Santa Elena mine, also in Sonora) are better than expected at this early stage, before heap saturation.
Consolidated Zinc Ltd. presented assay results for 40 underground samples collected on the Carola South zone of its Plomosas property in Chihuahua, which extends the mineralized zone for other 800 m. The average for all the samples is 20.4% Zn+Pb, with a high of 56.3% Zn+Pb.
Pan American Silver Corp. filed on SEDAR an updated technical report on its Dolores property in Chihuahua. The reports provides current information on mineral resource and reserve drilling, updated mineral resource and reserve estimates and the current expansion on the Dolores mine to include a pulp agglomeration treatment option and an underground mine to extract ore beneath the planned pit limits.
ON DEALS AND CORPORATE ISSUES
Lithium Australia increased its interest in the Electra lithium clays joint venture with Alix Resources, ahead of a 3,000 m drilling program to begin this week. Lithium Australia has boosted its stake in the Electra project, in Sonora, from 25% to 49%.
During the second week of December at least twenty one press releases were announced by companies working in Mexico, including two quarterly reports. ON EXPLORATION, in Sonora, mine processing equipment continues to arrive to a property nearing production; needed paper work has been received for another exploration property and drilling results provided for one more, while one more property has seen the delineation of target zones. In Mexico State and Jalisco high-grade drilling results were released for two properties. In Durango initial metallurgical testing commences to unravel the intricacies of a new silver discovery, whereas other property sells the concentrates from the first metallurgical test. One more company withdrew from the agreement to acquire a property in the same state. In Veracruz, drilling results released for a copper gold porphyry system, and in Baja California Sur a company was denied the environmental permit. In Chihuahua metallurgical testing continues in a property on track to publish a PEA. ON MINING, a PEA is to be completed on a Durango property; while a copper mine in Sonora has ceased mining activities. Two companies with operations in Sonora, Durango and Queretaro presented quarterly reports. ON FINANCING, an over-allotment option accrued C$1.5 M to a company. ON DEALS AND CORPORATE ISSUES, two companies signed a deal on a property in Sonora, while one other is to buy the shares of a company holding two properties in Sonora.
Mexus Gold US and partner Mar Mar announced that a Merril Crowe plant and a 42 inch jaw crusher will arrive during December to its Santa Elena mine in Sonora (not to mistake with First Majestic’s Santa Elena mine, also in Sonora).
Impact Silver Corp. announced more high-grade results from the Deeps zone on its San Ramon mine in Mexico State. These true width (TW) intercepts are deeper than previous drillholes, and include 7.09 m @ 87 g/t Ag; 2.20 m @ 194 g/t Ag, 0.1 g/t Au, 1.1% Zn; 0.69 m @ 562 g/t Ag, 0.3 g/t Au, 0.7% Pb, 2% Zn; 0.22 m @ 1,475 g/t Ag, 0.9 g/t Au, 2.2% Pb, 6.2% Zn; 4.93 m @ 354 g/t Ag, 0.2 g/t Au, 0.2% Pb, 0.5% Zn; 3.10 m @434 g/t Ag, 0.19 g/t Au, 0.7% Pb, 1.7% Zn. The zone is still open down dip, up dip and to the north.
Endeavour Silver Corp. released results on two drill exploration programs. At El Compas in Zacatecas, drilling the Ana Camila vein, a splay of El Orito vein 550 m SE of El Orito, intercepted 1.81 m (TW) @ 26.5 g/t Au, 72 g/t Ag (includes 0.24 m @ 132 g/t Au, 283 g/t Ag); 2.85 m @ 12.86 g/t Au, 45 g/t Ag; 1.69 m @ 7.7 g/t Au, 29 g/t Ag. At Terronera in Jalisco, drill intercepts at La Luz vein, 2,200 m NE from La Terronera vein include 1.14 m (TW) @ 58.6 g/t Au, 408 g/t Ag (including 0.26 m @ 238 g/t Au, 1,365 g/t Ag); 1.17 m @ 4 g/t Au, 194 g/t Ag; 1.01 m @ 2.6 g/t Au, 61 g/t Ag; 1.43 m @ 3.1 g/t Au, 202 g/t Ag; 1.57 m @ 5.2 g/t Au, 86 g/t Ag; 3.34 m @ 2.3 g/t Au, 140 g/t Ag. At the Terronera vein, new drill intercepts include 2.03 m @ 1.9 g/t Au, 127 g/t Ag; 6.74 m @ 5.0 g/t Au, 226 g/t Ag. Updated resource estimates are expected for March 2017 for both properties.
San Marco Resources Inc. has received all necessary paperwork for exploration at its Chunibas property in Sonora, including drilling permits. Assay results are pending for an 850 samples soil program, which will aid in the definition of drill targets. Mineralized structures have been identified up to one kilometer from the main historic mine workings.
Oceanus Resources Corp. reported drilling results from its El Tigre property in Sonora. Intercepts include 110 m @ 0.6 g/t Au, 14.5 g/t Ag; 20.4 m @ 0.4 g/t Au, 212 g/t Ag; 115.9 m @ 0.43 g/t Au, 11.4 g/t Ag. An orientation geophysical survey is to be carried out during December by Geofisica TMC S.A. de C.V., with three traverse lines totaling 6 line Km of IP.
Minaurum Gold Inc. identified three targets at its La Quintera project in Sonora. The La Quintera, Gap and Promontorio mine targets. The La Quintera vein was mined for 800 m along strike and 500 m in depth, with records showing the operation ceased while still in good grade mineralization. A new parallel vein has been discovered, this and the down dip extension of the La Quintera vein constitute the target. The Gap target area is a 500 m long zone between the La Quintera and Promontorio veins, with semi-continuous quartz veins over more than 300 m of strike. At the Promontorio mine target, the vein was developed over 800 m of strike length and to 200 m depth. Focus is on the down dip extension of the vein, as well as potential parallel mineralized structures. Surface and underground sample results show the three systems to have strong silver values (50 – 1,750 g/t Ag) and low gold (nil – 1.9 g/t Au) contents, while copper, lead and zinc usually range from 0.1% to 3.0%.
Orex Minerals Inc. received preliminary metallurgical results for samples from the Main Zone of the Boleras silver deposit at its Sandra Escobar project in Durango. Results shows that recovery is grade dependent, with a low of 6% recovery for a 54 g/t head grade, to 95% recovery for a 1,912 g/t Ag head grade, for HCL pre-treatment (similar results for SO2 pre-treatment). “Initial interpretation of the results suggests that there are three different hosts of silver; 1) a small amount of direct cyanide leachable silver (native silver and silver halides, cerargyrite and bromargyrite), 2) a varying amount of silver-bearing minerals leachable under pre-treatment conditions (argentiferous manganese and iron oxides, pyrolusite and aurorite), and a portion within silicate minerals.”
Almadex Minerals Ltd. reported results for two holes and partial results for one hole at the El Norte zone in its El Cobre property in Veracruz. Intercepts include 497 m @ 0.33 g/t Au, 0.16% Cu (including 268 m @ 0.46 g/t Au, 0.2% Cu) and 30 m @ 0.22 g/t Au, 0.1% Cu. Almadex has been focusing on identifying controls of mineralisation and a vector to a porphyry core.
Telson Resources Inc. closed the sale of the first lead and zinc concentrates from a 3,500 tonnes bulk sample from the El Creston zone at its Tahuehueto project in Durango.
Argonaut Gold Inc. was denied the environmental permit by SEMERNAT for its San Antonio project in Baja California Sur. SEMERNAT required additional information “regarding potential identification, description and impacts to the environment; additional information on the construction, operation and closure plans for the project; and additional information regarding the impact on the local aquifer.” The Company believes that this information is readily available and it has the ability to respond swiftly…. The Company is evaluating alternatives including legal options, the possible re-submittal of a revised MIA and continuing dialogue.”
Golden Minerals Co. continues to perform metallurgical testing at Santa Maria, Chihuahua, prior to complete and updated resource estimate and issue a preliminary economic assessment (PEA) in the first quarter of 2017. A resource estimate is also in preparation for the first quarter of 2017 for the Rodeo project in Durango.
Blackrock Gold Corp. has withdrawn from a LOI to acquire the El Potrero property in Durango.
Minera Alamos Inc. has engaged CSA Global Canada Geosciences Ltd. to undertake a preliminary economic assessment (PEA) on its La Fortuna gold project in Durango.
Starcore International Mines Ltd. filed the results for its second quarter 2017, ended in October 2016. Production was 4,351 Oz Au and 20.5 K Oz Ag at its San Martin mine in Queretaro, from ore grading 2 g/t Au and 19.4 g/t Ag, at cash cost US$844 per AuEq Oz and all-in sustaining cost of US$1,006 per AuEq Oz. Cash and cash equivalents were $8 M at the end of the period.
Red Tiger Mining Inc. announced that it has ceased mining operations at its Luz del Cobre copper mine in Sonora The mine was experiencing lower than planned recoveries, and a recent infill drill program showed continued copper mineralization, but lower acid soluble copper than needed to sustain operations. The solvent extraction and electrowining plant continues to operate from existing copper inventory on the leach pad.
GoGold Resources Inc. released financial results for the quarter ending on September 30, 2016, producing 69.3 K Oz Ag and 1,260 Oz Au, with cash cost per AgEq Oz $7.50 and all-in sustaining cost $21.24. Agglomeration has been optimized and an oxygen plant was commissioned at its Parral tailings facility to increase recovery speed.
SilverCrest Metals Inc. sold an over-allotment option on its last week offering, for gross proceeds of C$1.5 M (Las Chispas, Sonora).
ON DEALS AND CORPORATE ISSUES
Sonoro Metals Corp. has entered into an agreement to sell its Chipriona project in Sonora to Agnico Eagle Mines Ltd. for $4 M plus 1% NSR. The payment is to go in four tranches; the first $650 K will be followed by three additional sequential installments of $650 K, $800 K and $1.9 M. The NSR can be bought for $1.5 M. The Chipriona project lies just to the north of Agnico’s La India mine.
Colibri Resources Corp. has signed a letter of intent (LOI) to acquire all of the issued and outstanding shares of Canadian Gold Resources Ltd. from Ontop Capital Ltd. A total of $4 M of Colibri shares have to be issued to Canadian Gold. The Pilar and Sun properties in Sonora are owned by Canadian Gold.
Riverside Resources Inc. (“Riverside” or the “Company”) (TSX VENTURE:RRI / OTC PINK:RVSDF / FRANKFURT:R99), is pleased to report on the progress of the $250,000 USD partner-funded exploration program that is being conducted with Centerra Gold Inc. (“Centerra”) at the Glor Gold Project (the “Project”), located approximately 8 km west of Alamos Gold’s El Chanate Mine in Sonora, Mexico. Geologic mapping and soil sampling results have been very encouraging, having defined a gold-in-soil anomaly and zone of hydrothermally altered rocks that is more than 2 kilometres long. Induced polarization (IP) surveying has also returned positive results; a zone of anomalous chargeability that in extent closely matches the soil geochemistry anomaly has been defined by the survey. Ongoing channel sampling and soon to be initiated mechanical trenching are being carried out to further refine targets for drilling which is anticipated to commence in early 2017.