En noviembre pasado, la Senadora Angélica García (†) presentó una iniciativa que buscaba modificar la Ley Minera para crear nuevos impuestos e imponer una serie de causas para cancelar concesiones; propuesta que golpeó profundamente al sector y que finalmente ha sido desechada.
El anuncio derivó en que las mineras Grupo México e Industrias Peñoles, por citar a las principales afectadas, perdieran en conjunto 32,000 millones de pesos de valor en el mercado en un plazo de tres días.
Entre los cambios propuestos figuraba facultar al Servicio Geológico Mexicano para que pudiera realizar estudios de impacto social; facultar a la Secretaría de Economía para que pudiera declarar zonas inviables de explotación o en conflicto por impacto social negativo, y en este marco cancelar concesiones; y obligar a los titulares de concesiones a destinar “un monto para el desarrollo humano y sustentable de las comunidades o localidades en las que realicen sus actividades de exploración y explotación”.
Si bien la iniciativa fue congelada a los pocos días de su presentación, no dejaba de ser una amenaza latente para el sector, mas hoy las Comisiones Unidas de Minería y Desarrollo Regional y de Estudios Legislativos han desechado y archivado como concluida dicha propuesta.
La instancia referida declaró: “En materia presupuestaria se encontró que la iniciativa es incompleta, ya que no se define el costo fiscal que implican tanto las nuevas funciones asignadas a la Secretaría de Economía y al Servicio Geológico Mexicano, así como las posibles cancelaciones mineras por el impacto de las medidas añadidas”.
De igual forma, las Comisiones Unidas señalan que la propuesta no establece procedimientos precisos para declarar zonas inviables o de conflicto por impacto social negativo, y añade que la NOM-120-SEMARNAT-2011 ya se encarga de los cuidados ambientales obligatorios, las mineras ya pagan impuestos adicionales destinados al Fondo Minero, y el SGM no cuenta con la capacidad técnica para realizar estudios de impacto social, entre otros puntos
Notimex.- El presidente Andrés Manuel López Obrador aseguró que se respetarán las concesiones mineras, no se revocarán, subrayó; sin embargo, ya no se otorgarán más.
En conferencia de prensa matutina en Palacio Nacional, dijo que los únicos requisitos son: que las empresas mineras, en particular las canadienses, lleven a cabo una explotación limpia, que se pague bien a los mineros, que se cubra la misma cantidad de impuestos que erogan allá en Canadá y, sobre todo, que no contaminen.
Dijo que las concesiones que entregaron en los últimos 36 años los gobiernos pasados fueron del orden de 40 a 50 millones de hectáreas, y el país tiene 200 millones de hectáreas, es decir, 30% del territorio nacional, y “no se lo acabarían ni en mil años”
Detalló que sólo en la administración del expresidente Felipe Calderón Hinojosa se entregaron 20 millones de hectáreas para la explotación minera a un puñado de empresas, mientras que el exmandatario Lázaro Cárdenas entregó a un millón de familias campesinas 18 millones de hectáreas para conformar ejidos entre 1934 a 1940.
De los trabajadores del sector minero- metalúrgico en México, 14.9 por ciento son mujeres, lo cual supera el 13.9 por ciento registrado en 2017, informó la Cámara Minera de México (Camimex) por el Día internacional de la mujer.
En un comunicado publicado este jueves, la agrupación que conglomera a los principales extractores de minerales del país explicó que las mujeres que participan en el sector cuentan con una mayor preparación académica para desenvolverse en áreas como las técnicas-administrativas, operación de minas y manejo de maquinaria, donde la tecnología y la automatización de procesos requieren de conocimientos más especializados.
“Para el sector minero es significativa la incorporación de la mujer en sus áreas productivas, luego que durante siglos la minería fue una actividad exclusiva de los hombres”, dijo la Camimex.
En México, de acuerdo con la Organización de Cooperación de Desarrollo Económico (OCDE), solo 8 por ciento de las mujeres estudian carreras vinculadas a la ciencia, la tecnología, ingenierías y matemáticas, porcentaje que casi se duplica a 14.9 por ciento de las mujeres ocupadas en el sector minero del país, donde también ha crecido la ocupación de ingenieras, especialmente vinculadas con las Ciencias de la Tierra.
La Comisión de Recursos Humanos de Camimex señaló que en las empresas del sector minero incorporado a la Cámara los salarios que se ofrecen son iguales en los mismos puestos para hombres y mujeres.
Canadá es un socio estratégico para México en el sector minero con el que es necesario “ensanchar la relación de cooperación y mutuo crecimiento”, dijo el senador Pedro Haces Barba al participar en el México Mining Day 2019, en Toronto.
“Por ello desde el Congreso acompañaremos al gobierno del presidente López Obrador en el diseño de una nueva política de Estado que estimule el desarrollo de la industria en condiciones de competitividad internacional”, señaló.
El senador por Morena destacó la Inversión Extranjera Directa (IED) y la generación de empleos bien remunerados que forman parte de esta relación. Precisó que tan sólo en el 2018, el sector minero-metalúrgico representó para el país el 8.3 por ciento del PIB industrial y el 2.5 por ciento del PIB total, además de que al cierre del año se contabilizaron más de 371 mil empleos directos.
El también líder nacional de la CATEM, expresó por ello el compromiso del Senado mexicano por impulsar reformas sustanciales a la Ley Minera que estén a la altura de las dinámicas regionales y los retos globales del siglo XXI, que permitan un aprovechamiento estratégico y sustentable de los recursos naturales de nuestro país.
“En el Senado de la República uno de los objetivos principales es conformar un marco legal de vanguardia con la participación de expertos, académicos, productores, ambientalistas, así como del sector laboral y todas aquellas personas que estén involucradas en la materia”, expresó Haces Barba.
El subsecretario de Minería de la Secretaría de Economía, Francisco Quiroga, hizo un llamado a las empresas mineras canadienses sobre aceptar las consultas públicas para evitar daños ambientales y sociales.
En un comunicado, el funcionario dijo que esto lo expuso en el marco de la edición 2019 del Asociación de buscadores y desarrolladores de Canadá (PDAC, por sus siglas en inglés), foro en el que se reunieron representantes de la industria minera de más de 130 países.
También pidió cumplimiento tributario, protección ambiental y el respeto a los derechos humanos por parte de las empresas para evitar el cierre de minas.
“La vida humana, los desastres naturales, y el gobierno como un regulador imparcial, no son negociables”, señaló el funcionario.
Quiroga enfatizó en que México escaló 15 lugares como destino de inversión minera, de acuerdo con el reporte del Instituto Fraser, que anualmente presenta la opinión de empresarios e inversionistas de todo el mundo sobre las jurisdicciones o territorios más atractivos para la inversión del sector minero a nivel global.
“Nos comprometemos a proporcionar un trato justo e imparcial a todos los participantes de la industria (…) la actitud de los funcionarios es de servicio, de austeridad y de honestidad, con miras a la resolución efectiva de problemas, lo que incluye una colaboración activa con otras ramas del gobierno mexicano, comunidades, sindicatos, cámaras industriales, asociaciones comerciales y otros gobiernos”, refirió Francisco Quiroga.
Además, el subsecretario de minería ofreció una simplificación administrativa a los mineros por medio de una ventanilla única para sus trámites, así como solicitudes al gobierno.
Monzonite porphyry dike intrusive contact with andesitic tuff -note the flow banding- on a project in Jalisco. Picture by Jorge Cirett.
By Jorge Cirett
During the 4th week of the year (January 21st to January 27th, 2019), at least 20 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, CAMIMEX expressed it is in contact with diverse actors of the public administration to consolidate the international competitivity of the mining industry. ON EXPLORATION, In Chihuahua, Radius Gold staked the 9,600 ha. Rambler project, covering a 9 km trend of epithermal mineralization. In Sinaloa, Kootenay Silver released interesting surface sample results from its Copalito project. In Durango, Orex is to perform a VTEM airborne survey on the San Luis Del Cordero property. In Hidalgo, Prospero Silver initiated drilling at the Pachuca SE project, with funding by Fortuna Silver. ON MINING, Pan American, Argonaut, Gold Resource, Fresnillo, Sierra Metals and Americas Silver presented Q4 and full year 2018 production results (by the way, anyone has heard from Frisco on this regard?). Endeavour presented its 2019 production guidance. ON FINANCING, Premier Gold signed a credit agreement with Investec Bank as administrative agent for the lenders for a US$50 M credit facility. ON RESOURCES AND DEVELOPMENT, Endeavour updated its reserve and resource base, for a consolidated grand total of 132 M Oz Ag, 1.042 M Oz Au. Premier Gold presented high-grade intercepts from drilling at Mercedes, Sonora, where over 40,000 m of drilling were completed in 2018. Leagold is to produce 200-220 K Oz Au in 2019 at Los Filos, Guerrero. Azure Minerals presented a favorable scoping study for its Oposura project in Sonora. Impact Silver is defining extensions on veins at its Zacualpan property in Estado de Mexico. Excellon released high-grade results from surface exploration at its Platosa mine in Durango. Capstone filed on Sedar a technical report for Cozamin, Zacatecas. ON DEALS AND CORPORATE ISSUES, Prospero Silver announced the signature of the option agreement with Fortuna Silver on the Pachuca SE project.
ON MEXICO ISSUES
CAMIMEX (Cámara Minera de México), in a response to El Financiero, expressed that any modification to
the mining regulations has to take into account the wellbeing of the
communities and its environment. The organization, of which leading companies
like Peñoles, Grupo México and Minera Frisco are members, considers mining is
one of the most supervised sectors in the country, with a modern and robust
regulatory frame, following international standards, although areas of
opportunity can always be identified. “We
have approached diverse authorities on the public administration and found openness
to solve any pending issues and consolidate the international competitivity
that benefits the country development”.
ON EXPLORATION
Orex Minerals Inc. contracted Geotech Ltd. To perform a VTEM (Versatile
Time Domain Electromagnetic) airborne survey over its San Luis del Cordero
project in Durango. Old mine workings and mineralized showings wrap around a
Tertiary quartz-feldspar-porphyry intrusive. The helicopter-borne survey, with
accompanying horizontal gradiometer and radiometric surveys, is to identify
discrete conductive anomalies, as well as mapping lateral and vertical
variations in resistivity. The airborne survey will be conducted over a grid at
100 m line-spacing for approximately 275 line-km, with measurements every 2-3 m
along survey lines.
Prospero Silver Corp. has started
phase 2 drilling at its Pachuca Se project in Hidalgo. Fortuna Silver Mines
Inc. has an option to acquire up to a 70% interest in the 6,699 hectares project
(24 km SE from Pachuca) by spending a total of US$8 M and completing a
preliminary economic assessment (PEA), spending more than US$1 M in the first
year. A six-hole, 4,200 m program started to test a number of potential drill
targets. In a Fortuna funded program in early 2018, 1,800 m of drilling tested
three distinct targets, intercepting what is interpreted to be the upper parts
of a mineralized epithermal system.
Radius Gold Inc. staked a 9,600 ha
property called the Rambler project, in Chihuahua, some 20 km NW from Radius’s
Amalia project. Regional prospecting discovered epithermal mineralization in
veins, vein breccias and disseminated zones over a 9 km trend, where samples
with up to 16.5 gpt Au, 2,030 gpt Ag, 3.8% Cu, 13.9% Zn, 3.4% Pb were collected.
Saucito is the main target area, where a 500 x 70 m stockwork returned an
average of 177 gpt Ag on 31 samples. Other target areas with interesting rock
chip sample results include La Machomera (up to 7.3 gpt Au, 469 gpt Ag), La
India (up to 10.3 gpt Au, 16 gpt Ag), El Gringo (4.8 gpt Au, 3.8% Cu).
Kootenay Silver Inc. released
results from surface sampling and mapping at the Copalito Ag-Au project in
Sinaloa, same that covers an epithermal system with numerous veins 0.5-15 m in
width and up to 2 km in strike length. Sampling Highlights include 7.2 Gpt Au, 3,770
gpt Ag at the 5 Señores and Agua veins respectively; 8.2 gpt Au, 583 gpt Ag across
1.1 m on the 5 Señores vein; 401 gpt Ag across 5.3 m on 5 Señores vein; 532 gpt
Ag over 3.0 m and 306 gpt Ag over 4.9 m across the Agua vein; 17.4% Zn, 9.9% Pb,
0.52 gpt Au, 76 gpt Ag on a grab sample at Pillar vein and 5.1%, 1.6% and 1.5
Cu along the Cobriza vein. Of 117 rock samples collected, 29 returned silver
grades over 90 gpt, including 11 over 300 gpt and 6 over 500 gpt.
ON MINING
Pan American Silver Corp. announced preliminary operating results for the fourth quarter and full year 2018, including information from its operations in Mexico. At La Colorada in Zacatecas, 7.6 M Oz Ag, 4,400 Oz Au were produced during the year, at cash cost $2.02 per Ag Oz, whereas at Dolores in Chihuahua, 4.1 M Oz Ag and 136,600 Oz Au were produced at cash cost ($1.87) per Ag Oz. Pan American is planning to sustain 2,000 tonnes per day (tpd) throughput at La Colorada during 2019, and continue to explore and define the potential of the “significant skarn deposit discovered in 2018”. At Dolores the company plans to ramp-up underground production rates to 1,500 tpd and sustain the 20 K tpd throughput rate to the heap leach from the pit.
Argonaut Gold Inc. informed on Q4 production and yearly results for 2018, including numbers from its Mexican operations. At El Castillo Complex, in Durango, 37,977 GEOs (Gold equivalent ounces) were produced during the quarter, 18,984 from El Castillo mine and 18,993 from the San Agustin mine. At La Colorada, in Sonora, 13,681 Oz Au were produced during the same period. For the year, El Castillo Complex produced 117,126 GEOs and La Colorada 47,991 GEOs. Argonaut plans to invest $50-$60 M in capital expenditures during 2019, with $15 M allocated to the expansion of crushing and leaching facilities at San Agustin to increase the rate of production from 20K tpd to 30 K tpd.
Gold Resource Corp. reported 2018 year-end and fourth quarter production results from their El Aguila mining operations in Oaxaca. During the year Gold Resource produced 26,838 Oz Au, 1.67 M Oz Ag, 1,652 tonnes Cu, 7,280 tonnes Pb and 19,808 tonnes Zn. During the fourth quarter 7,974 Oz Au and 330.6 K Oz Ag were produced.
Fresnillo PLC. released 4Q and full year 2018 results, with a consolidated production of 61.8 M Oz Ag and 923 K Oz Au for the year and 15.5 M Oz Ag, 232 K Oz Au for the quarter. Lead (53,181 tonnes) and Zinc (88,520 tonnes) production amounted to 19.9 M Oz AgEq. “The cumulative drilling for the year at our operating mines and exploration projects was 579,000 and 346,000 metres respectively. Resources and reserves (in the case of the operating mines) are presently in audit by SRK and the results of which will be disclosed in the first quarter of 2019 with our Preliminary results. Resources were increased at the Guanajuato and San Juan projects, while mapping identified new targets at the Fresnillo and Herradura districts, and a geophysical survey detected areas for follow up in the San Julián district. Further to this, and for the first time in the Company’s history, drilling began in Chile. Exploration teams are working out of the Hermosillo, Chihuahua, Zacatecas, Toluca, Lima-Peru and Santiago de Chile offices in selected areas of favorable silver-gold belts in Mexico, Peru, Chile and Argentina”. (Note from editor: the mining community is waiting for Frisco to produce reports like this one).
Endeavour
Silver Corp. announced its consolidated silver and gold
production guidance for 2019, to be 4.4-5.2 M Oz Ag, 46.2-52.2 K Oz Au, or
8.1-9.4 M Oz AgEq. “Cash costs, net of gold by-product
credits, are expected to be $8.50-$9.50 per oz of silver produced in 2019.
Consolidated cash costs on a co-product basis are anticipated to be $11.50-$12.50
per oz silver and $900-$1,000 per oz gold”. The final dumps
and tailings permit at Terronera is needed to make a development decision. The
company plans to drill 24,500 m during 2019 in Guanaceví, Bolañitos, El Cubo,
El Compas, Terronera, Parral and Guadalupe y Calvo.
Sierra
Metals Inc. Disclosed Q4 and full year 2018 results, including figures from its
Mexican operations. The Bolivar mine in Chihuahua processed (at 2,948 tonnes
per day, or tpd) in the year 1 M tonnes of ore @ 0.95% Cu, 18 gpt Ag, 0.17 gpt
Au, with recoveries of 79.9% Cu, 77.1% Ag, 68.5% Au, to produce 17.23 M Lb Cu,
452 K Oz Ag, 3,968 Oz Au. For the quarter, 272.6 K tonnes were processed (3,116
tpd) @ 0.94% Cu, 15 gpt Ag, 0.15 gpt Au, to produce 4.23 M Lb Cu, 128 K Oz Ag,
1,163 Oz Au. At Cusi, also in Chihuahua, 186.9 K tonnes were processed (534
tpd) during the year at a grade of 140 gpt Ag, 0.16 gpt Au, 0.36% Pb, 0.40% Zn,
recovering 83.1% Ag, 39.1% Au, 79.9% Pb, 4.3% Zn, to produce 700 K Oz Ag, 372
Oz Au, 1.19 M Lb Pb, 937 K Lb Zn. During the last quarter Cusi processed 58.3 K
tonnes (666 tpd) @ 111 gpt Ag, 0.16 gpt Au, 0.41% Pb, 0.49% Zn, to produce 171
K Oz Ag, 124 Oz Au, 421 K Lb Pb, no Zn.
Americas
Silver Corp. announced production and operating results for
2018, including figures from its Mexican operations. At Cosalá, in Sinaloa,
544.5 K tonnes were milled @ 47 gpt Ag, to produce 448.1 K Oz Ag, 34.22 M Lb Pb,
12.86 M Lb Zn, or 4.16 M Oz AgEq at cash cost ($37.95) and AISC ($19.69).
ON FINANCING
Premier Gold Mines Ltd. Announced the
signing of a definitive credit agreement with Investec Bank PLC, as administrative agent for the lenders of
a US$50 M secured term credit facility. Premier also announced financing
arrangements with OMF Fund II SO Ltd.
and Orion MineFinance Fund II LP for aggregate
gross proceeds of US$18.2 M. (Mercedes, Sonora).
ON RESOURCES AND DEVELOPMENT
Endeavour Silver Corp. updated its reserve and resource base for its mines and projects for 2018. Consolidated reserves and resources, including inferred resources for its seven units comprise 132 M Oz Ag and 1.042 M Oz Au, as displayed on the following table:
Premier Gold Mines Ltd. provided an
update on its exploration programs, including information from its Mexican
operations. At Mercedes in Sonora, positive exploration results include 18.3 m
@ 38.3 gpt Au, 26 gpt Ag on the Aida vein, and 22.0 m @ 36.6 gpt Au, 171 gpt Ag
at Rey de Oro. During the past year 280 brownfield and greenfield holes were
completed representing 40,720 m of drilling.
Leagold Mining Corp. announced its
intention to produce 200 K to 220 K Oz Au during 2019, at an AISC of $925 to $925-975
at Los Filos, in Guerrero. The proven and probable reserves at the property
stand at 111.33 M tonnes @ 1.22 gpt Au, containing 4.363 M Oz Au, and 114 K Oz
Au on the leach pad inventory.
Azure
Minerals Ltd. Presented its quarterly report for the period
ended on December 2018. The company highlighted the Scoping Study for the Oposura
project in Sonora, with an EBITDA of A$237 M, pre-tax NPV of A$112 M, pre-tax
IRR of 76%, average life of mine cash cost US$0.42 per Zn Lb and a
pre-production CAPEX of A$69.9 M. At the Alacrán project in Sonora, Teck
completed its Phase 2 drilling program comprising 10.537 m in 21 holes, with
focus on testing porphyry copper potential at Cerro Alacrán, with assays
pending. At Oso Negro, also in Sonora, sampling returned more high-grade
mineralization, with the best sample returning 15.5 gpt Au, 1,935 gpt Ag, 5.9% Zn,
4.6% Pb. At Sara Alicia, also in Sonora, the company has been showing the
property to potential partners or buyers.
Impact Silver Corp. hired a
consultant to define extensions to the vein systems on its Zacaualpan property
in Estado de Mexico. Work to date has defined on strike extensions to the San
Ramon silver vein system through geological work and soil sampling, and better
characterizing the potential for bulk mineable ore in the Santa Teresa area.
Excellon
Resources Inc. released high-grade results from ongoing surface
exploration at its Platosa mine in Durango. Highlighted intervals comprise 0.9
m @ 283 gpt Ag, 9.8% Pb, 0.3% Zn; 5.6 m @ 383 gpt Ag, 8.0% Pb, 0.2% Zn; 2.5 m @
406 gpt Ag, 3.7% Pb, 0.2% Zn; 0.6 m @ 2,060 gpt Ag, 7.8% Pb, 9.1% Zn; 5.0 m @ 0.28 gpt Au, 968 gpt Ag, 9.4% Pb,
20.2% Zn; 4.8 m @ 1,127 gpt Ag, 8.4% Pb, 10.5% Zn.
Capstone
Mining Corp. filed on SEDAR a NI-43-101 compliant report titled
“NI 43-101 Technical Report on the Cozamin Mine,
Zacatecas, Mexico”.
ON DEALS AND CORPORATE ISSUES
Prospero Silver Corp. announced the
signature of the previously disclosed option agreement with Fortuna Silver Mines Inc. on the
Pachuca SE project. “On December 10, 2018 Prospero
announced that Fortuna Silver Mines Inc. (“Fortuna”) exercised its
right to be granted an option to acquire up to a 70-per-cent interest in the
Pachuca Southeast project located close to the historic mining city of Pachuca
in Hidalgo state, Mexico, by spending a total of $8-million (U.S.) in
qualifying expenditures and completing a preliminary economic assessment, with
a minimum spend of $1-million in the first year” (Pachuca SE, Hidalgo).
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, monzonite porphyry dike
intrusive contact with andesitic tuff -note the flow banding- on a project in
Jalisco. Picture by Jorge Cirett.
Cualquier modificación a la Ley minera, como lo pretenden proponer algunos legisladores, debe considerar el cuidado de las comunidades y su entorno, además de certeza jurídica, respondió la Cámara Minera de México (Camimex) en un correo.
La cámara, que agrupa a las principales empresas extractivas de minerales del país como Peñoles, Grupo México y Minera Frisco, consideró que actualmente el sector es uno de los más vigilados del país, su marco regulatorio es robusto, moderno y apegado a los estándares internacionales; sin embargo, destacó que siempre podrán existir áreas de oportunidad.
“Hemos tenido acercamiento con diversas autoridades de la Administración Pública y encontrado apertura para impulsar a la industria. Queremos trabajar con el gobierno para atender aquellos temas pendientes y fortalecer la competitividad internacional que tanto beneficia al desarrollo del país”, dijo la Camimex.
Según la cámara, en reiteradas ocasiones el equipo del presidente de México, Andrés Manuel López Obrador, ha señalado que el sector minero es pieza clave del desarrollo del país.
La Camimex no quiso pronunciarse sobre los comentarios realizados por el senador y líder del sindicato minero Napoleón Gómez Urrutia.
“En la Camimex siempre hemos respetado las decisiones y los derechos de los trabajadores mineros estipulados en la Constitución, en la Ley Federal del Trabajo”, respondieron.
Napoleón Gómez Urrutia, líder del sindicato minero y senador, está listo para ir sobre las compañías que según él no pagan suficientes impuestos, contaminan el medioambiente y tienen concesiones demasiado largas.
Caen acciones mineras
Gómez Urrutia, un viejo enemigo de Grupo México, está revisando concesiones mineras en el país y considera que la industria debería contribuir más a los ingresos del gobierno, según dijo en entrevista con Bloomberg este martes.
El senador espera que las propuestas para la industria sean discutidas en el siguiente periodo de sesiones del Senado, que inicia en febrero; también dijo no tener en mente un impuesto en particular para las empresas.
“La Ley Minera de México se hizo muy flexible, y buscamos regularla de acuerdo con los intereses del país, no los de las empresas que se han beneficiado durante años”, dijo Gómez Urrutia.
“Estamos buscando en los términos de cancelación para una concesión y su extensión, porque 50, 100 años es demasiado largo”, explicó.
Gómez Urrutia se volvió senador a pesar de una controversia por su decisión de mudarse a Canadá hace más de una década después de haber sido acusado de malversación de fondos. Él ha negado todos los cargos en su contra. En un punto, México buscó extraditarlo de Canadá para enfrentar juicio por supuestamente haber malversado 55 millones de dólares de un fondo minero, pero los cargos fueron desechados posteriormente.
El líder sindical obtuvo un escaño en el Senado con el partido Morena del presidente Andrés Manuel López Obrador y ahora es jefe del comité de trabajo y miembro del comité de minería. Su nominación causó algunas dudas y un gran revuelo, especialmente para el gigante minero y multimillonario Germán Larrea, director del Grupo México, quien se pronunció en contra de su candidatura.
Las acciones mineras lideraron caídas en las acciones de referencia mexicanas. Las acciones de Grupo México cayeron hasta 2.1 por ciento a 44.10 pesos en las operaciones de la tarde en Ciudad de México. Industrias Peñoles, otra compañía minera con una gran presencia en México, cayó 2.6 por ciento a 256 pesos.
Gómez Urrutia pidió a los dueños de las empresas mineras que “den al gobierno una oportunidad de gobernar, en lugar de buscar sabotearlo o crear obstáculos. Si al final no funciona, la mayoría de los mexicanos decidirá qué pasa después”.
Quartz-sulfide sheeted veinlets with silicified halos in argillitized fragmental tuff on a project in Jalisco
By Jorge Cirett
During the 2nd week of the year (January 7th to January 13th, 2019), at least 26 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, The government stressed the need to create a new legal framework to standardize the safety, health and protect workers and the environment. ON EXPLORATION, In Sonora, San Marco confirmed the presence of a porphyry copper system at El Espiritu; Silver Viper released unpublished historical drill results from its La Virginia property. In Chihuahua, Sable Resources summarized its 2018 program on Margarita, and 2019 drill plans for Margarita and Vinata projects; Kootenay reported new surface sample results from the Columba project. ON MINING, Consolidated Zinc, Great Panther, Endeavour Silver, New Gold, Torex Gold and Capstone presented Q4 2018 production results. Sierra Metals is increasing production at Bolivar, Chihuahua. US Antimony is completing its plant to process Los Juarez ore. ON FINANCING, Silver One, Gainey Capital and SilverCrest completed non-brokered private placements for gross proceeds of C$624 K, $750 K and C$292 K. respectively. ON RESOURCES AND DEVELOPMENT, Oceanus informed on El Tigre, Sonora, 2018 exploration, and plans for 2019. SilverCrest released further high-grade in-fill drilling results from its Las Chispas property in Sonora. Excellon released high grade underground results from the 623 Manto at its Platosa mine in Durango. ON DEALS AND CORPORATE ISSUES, Great Panther and Beadell Resources completed the friendly acquisition of the latter by Great Panther. Prize Mining trading was halted at the TSX Venture Exchange. Riverside outlined its 2019 business plan, which includes advancing properties, potential joint venture partnerships and strategic alliances. Americas Silver and Pershing Gold announced their shareholders approved its merger.
ON MEXICO ISSUES
The president of the Commission on Mining
and Regional Development, Geovanna del Carmen Bañuelos de la Torre, said that it is necessary to
create a new legal framework to standardize the safety, health and protect workers
and the environment. She also recognized that the actual distribution of the
Mining Fund lacks rigor on its application, and that a reform proposal has been
formulated.
ON EXPLORATION
Sable Resources Ltd. summarized its 2018 exploration program, including information from its projects in Mexico. During 2018’s second quarter Sable completed 2,420 m in 12 drill holes at the Margarita project in Chihuahua, testing epithermal veins in Eocene-Oligocene volcanic rocks. “The project is defined by 5 veins; Margarita, El Caido, Juliana, Faviana, and Marie. All exploration drilling by Sable up to this point was executed along 750 m strike of the Margarita Vein”. Results for the first round of drilling include close to surface high-grade intersections like: 252 g/t AgEq over 11.3 m; 462 g/t AgEq over 4.25 m and larger low-grade halos as: 36 g/t AgEq over 21.35 m and 50 g/t AgEq over 44 m. “A second round of drilling planned to start in mid-January includes 1360m in 9 holes to extend the drilling for 1.5km along the known surface trace of the Margarita vein and to close the drilling grid to approximately 250m space. In addition, 1750m will be drilled in 13 exploration holes that will test the other veins”. Sable received title for 12 mining concessions covering 38,396 ha in Chihuahua, all covering stream sediment and rock sample anomalous areas, including the drill ready Vinata vein system located NE of the Margarita project. The company also holds projects in Canada, Peru and Argentina.
San Marco Resources Inc. confirmed the existence of a porphyry Cu-Mo-Au system at its Espiritu project in Sonora. The work done confirmed a multi-stage system with an alteration foot-print at least 2.5 Km x 1.2 Km and that the best Cu mineralization is surface and drill core samples is in rocks with potassic alteration and a quartz-chalcopyrite-pyrite stockwork. There are indications that copper mineralization might be preserved at depth within the shallower part of the porphyry system(s). Future work is expected to include magnetic and ZTEM surveys in advance of possible drilling at the project.
Kottenay Silver Inc. reported that new assay results from outcropping quartz veins support the potential for the discovery of a high-grade silver deposit at its Columba project in Chihuahua. The veins have strike lengths of 200 m to 2 km, and thicknesses from 0.5 to 6 m. In the latest field campaign 50 channel and 90 grab samples were collected on eight of the ten veins in the property. “Highlights include 33 samples, between lengths of 0.70 and 2.0 meters, returning silver values ranging between 30 gpt to 397 gpt and 55 samples returning grades >10 gpt”. Contiguous channel samples averaged 4.9 m @ 198 gpt Ag; 3.5 m @ 276 gpt Ag; 2.2 m @ 330 gpt Ag; 6.6 m @ 182 gpt. The next steps are additional mapping and surface sampling to prioritize drill targets and obtain drill permits.
Silver Viper Minerals Corp. released previously unreported significant drill intercepts from a historical database from La Virginia project in Sonora. The database was generated by Minefinders Corporation Ltd. and Pan American Silver Corp. up to 2013, and includes information on 52,635 m of drilling in 188 holes, with only the first 50 holes having been disclosed in press releases. The disclosed tables include significant intervals from seven areas, here some of these (true width estimated at 75-80% of core length): At Las Huatas, 18 m @ 2.81 gpt Au, 187 gpt Ag (including 1.5 m @ 3.50 gpt Au, 399 gpt Ag; 1.5 m @ 21.6 gpt Au, 1,173 gpt Ag); 0.6 m @ 11.54 gpt Au, 1,156 gpt Ag; 12 m @ 1.26 gpt Au, 109 gpt Ag; 1.5 m @ 6.52 gpt Au, 625 gpt Ag; 8.5 m @ 1.38 gpt Au, 105 gpt Ag (including 3.95 m @ Au, 2.07 gpt Au, 158 gpt Ag); 1.15 m @ 9.67 gpt Au, 658 gpt Ag; 17.5 m @ 0.72 gpt, 35 gpt Ag; 20.45 m @ 1.04 gpt, 69 gpt Ag; 0.9 m @ 54.79 gpt Au, 43 gpt Ag; 7 m @ 1.37 gpt Au, 65 gpt Ag; 7.55 m @ 1.56 gpt Au, 88 gpt Ag; 1.5 m @ 4.92 gpt Au, 421 gpt Ag; 12.9 m @ 2.44 gpt, 122 gpt Ag. At La Virginia, 1 m @ 3.27 gpt Au, 196 gpt Ag; 18 m @ 2.59 gpt Au, 119 gpt Ag (including 1.7 m @ 18.27 gpt Au, 794 gpt Ag); 8.5 m @ 0.87 gpt Au, 36 gpt Ag; 0.8 m @ nil Au, 300 gpt Ag; 19 m @ 0.65 gpt Au, 29 gpt Ag. At Con Virginia, 5.75 m @ 2.35 gpt Au, 153 gpt Ag; 11.7 m @ 0.62 gpt Au, 77 gpt Ag; 17.4 m @ 0.87 gpt Au, 81 gpt Ag; 2.05 m @ 6.73 gpt Au, 976 gpt Ag; 1.2 m @ 7.78 gpt Au, 1055 gpt Ag. At El Oriental, 2 m @ 2.47 gpt Au, 19 gpt Ag; 5 m @ 2.40 gpt Au, 60 gpt Ag; 3.8 m @ 11.99 gpt Au. 77 gpt Ag; At La Cascada, 1.3 m @ 20.92 gpt Au, 37 gpt Ag. At Huatas Sur, 2.8 m @ 1.05 gpt Au, 81 gpt Ag; 1.95 m @ 1.31 gpt Au, 29 gpt Ag; 3.75 m @ 9.32 gpt Au, 144 gpt Ag (including 1.55 m @ 19.97 gpt Au, 254 gpt Ag). At La Colonia, 0.85 m @ 3.04 gpt Au, 23 gpt Ag. Limited confirmation drilling was completed at the Las Huatas and Con Virginia prospects. These holes were drilled to test gaps in the known data. Previously undrilled prospects Huarache, La Gloria and El Rubi were also tested in 2018. To date, the Company has released results for the confirmation drilling at Las Huatas. Subsequent results and a discussion of the 2018 program and plans for 2019 are scheduled for release in the near future.
ON MINING
Consolidated Zinc Ltd. provided an update on production at its Plomosas mine in Chihuahua for December 2018. During the period 4,072 tonnes were hauled to surface @ 10.2% Zn, 2.4% Pb. Recoveries at the Santa Eulalia plant have been 89% Zn, 86% Pb. All the ore mined was from an area outside of the JORC defined resource.
Great Panther Silver Ltd. reported fourth quarter and 2018 production results for its properties in Mexico. During the year the company produced 1.86 M Oz Ag, 20,161 Oz Au, 1,958 tonnes Pb, 2,361 tonnes Zn from the two operations. At Topia, Durango, 18.9 K tonnes @ 326 gpt Ag, 0.83 gpt Au were processed during the quarter, recovering 92.9% Ag, and 53.4% Au to produce 183.7 K Oz Ag, 267 Oz Au, 474 tonnes Pb, 661 tonnes Zn. At the Guanajuato mine Complex 70.4 K tonnes @ 129 gpt Ag, 2.01 gpt Au were processed, recovering 87.2% Ag, 84.4% Au to produce 254.4 K Oz Ag, 3,833 Oz Au. Reflecting low metal prices, operations at the Guanajuato Mine Complex is shifting all production to the San Ignacio mine for 2019.
United States Antimony Corp. reported the status of beneficiation of ore at Los Juarez, Queretaro, where 30 K tonnes have been mined. The crusher and flotation circuits at the Puerto Blanco mill (in Guanajuato) are ready for production, while the tailings installation is nearly complete. Most of the cyanide leach plant has been built and is being installed. The caustic leach plant at Madero to process the flotation concentrates is operational and has recovered the precious metals with close to a 100% recovery, and pilot production of Au, Ag and Sb is about to start in Q1 2019.
Sierra Metals Inc. informed it is on track on its staged mine production increase from 3,000 to 3,600 tonnes per day (TPD) in Q1 2019 (and 5,000 TPD by 2020) at its Bolivar mine in Chihuahua. “Completion of the expansion included the installation of a refurbished mill, an electrical substation with 1250 KVA of capacity, a secondary crusher and a hydrocyclone cluster that allows for finer grind size optionality that is estimated to provide a 6% increase in copper recoveries from 80% to 86% at Bolivar Mine”.
Endeavour Silver Corp. reported consolidated production of 5.5 MOz Ag, 52,967 Oz Au (9.5 MOz AgEq) in the fourth quarter 2018. Drilliing at Bolañitos returned multiple high-grade intersections, including 1.1 m (TW) @ 1,415 gpt Ag, 2.25 gpt Au in the San Miguel mine. Parral drilling and underground sampling returned multiple high.grade intersections, including 4.2 m (TW) @ 934 gpt Ag, 0.21 gpt Au, 3.0% Pb, 5.9% Zn. El Compas commissioning has been delayed by metallurgical and plant issues that have been or are in the process of being corrected, while the mine development has been completed and and a 10K tonnes stockpile produced. At Guanaceví, the Milache and SCS orebodies development commenced. At Bolañitos, drilling outlined several mineralized areas and extensions to known areas, with potential to extend the mine life. At El Cubo, drilling of new targets failed to intersect any economic mineralization, and production is to be halved to increase mine life while more reserves are sought.
New Gold Inc. presented fourth quarter results, including figures from the Cerro San Pedro property in San Luis Potosi. Mine closure activities continued at the Cerro San Pedro mine, and 1,448 Oz Au were recover by residual leaching of heap pads.
Torex Gold Resources Inc. announced 354 K Oz Au were produced at its El Limon-Guajes mine in Guerrero.
Capstone Mining Corp. released preliminary fourth quarter production results for 2018, including figures from its operations in Mexico. At Cozamin in Zacatecas, 278.8 K tonnes were processed at a rate of 3,030 tonnes per day (TPD) @ 1.61% Cu, 1.29% Zn, 0.41% Pb, 50.2 gpt Ag, recovering 94.3% Cu, 65.9% Zn, 58.5% Pb, 75.5% Ag to produce 9.36 M Lb Cu, 5.22 M Lb Zn, 3.15 M Lb Pb, 339.2 K Oz Ag, 68 Oz Au.
ON FINANCING
Silver One Resources Inc. closed its previously announced
private placement financing for gross proceeds of C$623.7 K. Silver One also
commented it is not aware of any information other than that previously
disclosed in its public filings, news releases or statements, which would
result in the levels of trading activity and change in the share price recorded
in recent days (Peñasco Quemado, Sonora; La Frazada, Nayarit).
Gainey Capital Corp. received conditional approval by
the TSX Venture Exchange to close the first tranche of its non-brokered private
placement of up to $1.15 M announced on November 28, 2018. In this tranche the
closing accrued gross proceeds of $750 K (El Colomo, Nayarit).
SilverCrest Metals Inc. informed the completion its
non-brokered private placement with Pierre Beaudoin, for gross proceeds of
Cdn$292 K (Las Chispas, Sonora).
ON RESOURCES AND
DEVELOPMENT
Oceanus Resources Corp. informed that during 2018 carried a regional prospecting and mapping program on its El Tigre property in Sonora. The objective was to know the extent of El Tigre Formation, the rock package that hosts the historic El Tigre mine. Such formation was found to extend 5 km to the south reaching the Lluvia de Oro prospect, and 3 km further to the south at La Mancha workings. Prospecting and mapping was carried out also to the east, where several historical underground workings were located. Given the positive results, Oceanus applied for an additional 4,465 hectares, increasing its land position to 26,307 hectares. The company will continue prospecting, mapping and sampling during 2019 to establish drill targets.
SilverCrest Metals Inc. released further in-fill results from its Las Chispas property in Sonora. The 20 reported in-fill holes targeted the high-grade Area 51 zone, Babicanora Central zone and Babicanora Footwall and Hangingwall veins. On previous drilling (used for the past resource calculation) the Area 51 had an estimated average 2.7 m of true width (TW) @ 7.13 gpt, 614 gpt Ag (1,148 gpt AgEq); the weighted average of the 28 in-fill holes to date is 3.9 m (TW) @ 11.36 gpt Au, 1,064 gpt Ag (1,915 gpt AgEq). The latest results include the best drilling interception to date: 9.3 m @ 39.66 gpt Au, 3,361 gpt Ag (including 0.4 m @ 252 gpt Au, 9,740 gpt Ag; 0.9 m @ 92.7 gpt Au, 7,570 gpt Ag; 0.4 m @ 47.30 gpt Au, 7,790 gpt Ag).
Excellon Resources Inc. announced results from underground exploration at the Platosa mine in Durango. The high-grade 623 Manto has been further defined with diamond drilling results, of which the next results were highlighted: 6.6 m @ 0.1 gpt Au, 704 gpt Ag, 5.8% Pb, 10.1% Zn (including 2.7 m @ 0.1 gpt Au, 1,669 gpt Ag, 13.2% Pb, 24.4% Zn); 4.9 m @ 2,802 gpt Ag, 12.% Pb, 5.4% Zn (including 2.8 m @ 4,789 gpt Ag, 20.4% Pb, 9.0% Zn; 3.7 m @ 775 gpt Ag; 7.3% Pb, 6.4% Zn; 4.2 m @ 150 gpt Ag, 0.1% Pb, 2.0% Zn. The Company continues to test priority targets within the north-south trending Platosa corridor while defining new targets at Jaboncillo, PDN, Saltillera North and South and San Gilberto. A 3D induced polarization program was completed at Jaboncillo and PDN in late 2018 in preparation for drilling programs on both targets in the coming months
ON DEALS AND CORPORATE
ISSUES
Great Panther Silver Ltd. filed its management information circular in respect of the friendly acquisition of Beadell Resources Ltd. Once the acquisition is completed, the company will have a diversified portfolio of producing mines in Mexico and Brazil, and an advanced stage development project in Peru, with additional near-term resource growth potential from Bradell’s in and near mine targets to add to the growth potential from Great Panther’s advanced stage Coricancha project in Peru (Topia, Durango).
Prize Mining Corp. disclosed its failure to file its annual financial statements for the fiscal year ended August 31, 2018. As a result, the British Columbia Securities Commission issued a cease trade order on Jan 7, 2019 against the company and securities have been halted from trading on the TSX Venture Exchange. The company is working to finalize and file the needed documents and seek to have the cease trade order revoked. (Manto Negro, Coahuila).
Riverside Resources Inc. outlined its corporate outlook for 2019. Highlighted in it the presence of exciting drill targets at Cecilia in Sonora and Peñoles in Durango, as well as the advancing of potential joint venture partnerships and strategic alliance discussions with major companies. Riverside expects to expand outside of Mexico, beyond its participation in Croesus Gold Corp. Partner-funded exploration is expected to commence at La Silla project in Sinaloa.
Americas Silver Corp. and Pershing Gold Corp. announced their respective shareholders have provided the requisite approvals for their previously announced business combination (Cosala, Sinaloa).
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-sulfide sheeted veinlets with silicified halos in argillitized fragmental tuff on a project in Jalisco. Picture by Jorge Cirett.
During the 36th week of the year (September 3rd to September 9th, 2018), at least 18 press releases were announced by companies working in Mexico. Prize Mining, Minaurum, Azure, and Kootenay released advances in exploration. Telson Mining released some clarifications to its operating Q2 2018 results. Prospero reported news on financing. Goldplay, Consolidated Zinc, Torex, Southern Silver, Impact Silver, Magellan Gold, and Aura Minerals reported on development of its properties. Golden Minerals, Sonoro and GoGold reported deals on properties or royalties. ON MEXICO ISSUES, AMLO announced cabinet posts in Economy, including the new Sub-secretary of Mining, Francisco Quiroga. The Mexican Core Shack now counts with displays from three properties in Chihuahua, two in Durango, two in Estado de Mexico, one in Guerrero and one in Puebla. ON EXPLORATION, In Sonora, Minaurum has resumed drilling at its Alamos Silver property. Azure reported high-grade surface results from its Oso Negro property and Kootenay released surface sampling results from its Malé project. In Coahuila Prize Mining announced a coming drill campaign on its Manto Negro project. ON MINING Telson Mining presented some clarifications on its Q2 report, and some figures on production costs from the Campo Morado mine. ON FINANCING, Prospero Silver announced a strategic investment by Fortuna Silver for US$270 K. ON RESOURCES AND DEVELOPMENT, Goldplay released results from its San Marcial project in Sinaloa. Consolidated Zinc is to start mining in Plomosas, Chihuahua. Torex presented an updated technical report and a new mine plan on its El Limon-Guajes property in Guerrero. Southern Silver presented assay results from drilling at its Cerro Las Minitas property in Durango. Impact Silver announced the discovery of a new ore shoot on its Zacualpan property in Estado de Mexico. Magellan is planning to mine on its El Dorado property in Nayarit. Aura Minerals filed a FS and technical report on the restarting of its Aranzazu mine in Zacatecas. ON DEALS AND CORPORATE ISSUES, Golden Minerals sold its remaining interest on the Celaya property in Guanajuato to The Electrum Group for US$3 M. Sonoro optioned an inner concession within its Cerro Caliche property for US$100 K in two payments. GoGold sold its 2% NSR on the Santa Gertrudis project in Sonora to Metalla Royalty.
ON MEXICO ISSUES
Andres Manuel Lopez Obrador (AMLO), the president elect in Mexico, announced cabinet posts within the Secretaría de Economía (Bureau of Economy) for its incoming government. Graciela Márquez, as Secretary, is to be supported by Luz Maria de la Mora in Subsecretaría de Comercio Exterior (Foreign Commerce), Ernesto Acevedo Hernández in Subsecretaria de Industria y Comercio (Industry and Commerce), and Francisco Quiroga, on charge of the Subsecretaría de Minería (Mining). Francisco Quiroga was director of International Planning for Grupo Villacero, and worked for a couple of years at Arcelor Mittal México. He has master degrees from Yale and New Zealand, with expertise in international metal markets, steel, commodities and mining, as well as anti-dumping practices and industry. The Mexican Core Shack added images of drill core from Almaden’s Ixtaca project in Puebla, at https://gambusinoprospector.com/mexican-core-shack/puebla/ixtaca/ . The Mexican Core Shack now displays three properties in Chihuahua, two in Durango, two in Estado de Mexico, one in Guerrero and one in Puebla.
ON EXPLORATION
Prize Mining Corp. commenced the phase II exploration program on its Manto Negro project in Coahuila. This phase will consist of 3,000 m of diamond drilling, “3D modeling of drill intersections and artisanal underground workings”, a GIS compilation and preliminary metallurgical test work. At El Granizo, “strong copper mineralization is exposed on surface for a strike length of 550 metres and dips moderately to the southwest. Mineralization is hosted in the San Marcos red-bed sandstone close to the contact with the overlying Cupido limestone”. At Pilar Grande drilling will test a 200 by 50 m area containing the underground workings.
Minaurum Gold Inc. has resumed drilling at the Alamos Silver project in Sonora. The 5,000 m (or greater) drill program is to focus in seven untested veins exposed at high structural levels in down-dropped blocks outside of the historic mining corridor. “One hole will test the Minas Nuevas vein at depth and a second hole will test the Púlpito and Cotera vein zone projections. Eight more holes are planned on targets on the completely virgin eastern side of the historic La Quintera – Promontorio vein zone, including the Tigre, Ana, and Amalia vein zones, and the breccia body located south of Amalia and Tigre; as well as the Promontorio Sur vein zone to the south of Promontorio vein. The drill program will be expanded as new targets are generated.”
Azure Minerals Ltd. reported high grade assays from surface sampling at its Oso Negro property in Sonora. The project comprises a 1,119 ha concession application and an adjoining 156 ha concession purchased for US$35 K. Both concessions contain epithermal mineralization like quartz veins and quartz stockworks in zones of strong alteration, with galena and sphalerite within the quartz veins, which can attain widths of up to 5 m and lengths of 800 m. Of 88 samples collected, 37 returned over 100 g/t Ag, including 9 samples over 1,000 g/t Ag, and a peak of 2,680 g/t Ag. Of 88 samples collected, 37 samples returned over 1.0 g/t Au, including 7 samples over 5.0 g/t Au and up to 100.5 g/t Au.
Kootenay Silver Inc. released additional high-grade sampling results on its Malé project in Sonora. Thirty three sample collected from old pits and small trenches returned 19 samples with values over 1.0 g/t Au, with the highest running 12.1, 17.0, 24.7 and 36.0 g/t Au. “The Malé gold project is a granitic-hosted gold dominant polymetallic vein and vein stockwork system covering an area of 1500 x 1500 meters with numerous showings highly anomalous in gold…..Mineralization occurs as narrow veins, veinlets and stockworks of quartz with or without sulphides within structures projecting in a dominant northeast trend and a secondary northwest trend”.
ON MINING
Telson Mining Corp. presented some clarifications to its Q2 2018 financial report (please see press release for details). The “Campo Morado Mine has achieved direct site costs for mining, milling and administration during Q2 of approximately US$56.6, US$51.6 and US$51.8 per tonne respectively for, April, May and June. These current direct site costs are approximately 36% lower than the estimated direct site costs of US$72.26 per tonne used for the same categories in Telson’s recently published independent Preliminary Economic Assessment and approximately 40% lower than the previous operator’s last year of production during 2014”.
ON FINANCING
Prospero Silver Corp. arranged a US$270 K strategic investment from Fortuna Silver Mines Inc. Fortuna currently owns 20.3% of Prospero current and outstanding shares, and this private placement is to take that proportion to 26.9%. The proceeds will be allocated to test the Bermudez project in Chihuahua with a 3-hole 1,500 m drill program.
ON RESOURCES AND DEVELOPMENT
Goldplay Exploration Ltd. disclosed additional results from sampling of the historical core drill holes completed in 2011 on the project San Marcial, in Sinaloa. Highlighted true width (TW) new results from two holes comprise 53.6 m @ 57 g/t Ag, 0.1% Pb, 0.4% Zn (including 5.6 m @ 253 g/t Ag, 0.2% Pb, 0.6% Zn); 46.5 m @ 57 g/t Ag, 0.3% Pb, 0.4% Zn (including 15.5 m @ 115 g/t Ag, 0.5% Pb, 0.7% Zn, same that include 3.25 m @ 411 g/t Ag, 1.9% Pb, 2.2% Zn).
Consolidated Zinc Ltd. is to start mining at its Plomosas project in Chihuahua. “The CZL Board has approved the development plan and mining will commence immediately with monthly receipts commencing mid October 2018”. CZL secured a finance package by way of convertible notes. The mined ore will be processed at Grupo Mexico’s plant in Santa Eulalia, Chihuahua, and the concentrate is to be sent to the same group’s smelter in San Luis Potosi. CZL “is confident that the first cashflow can be achieved for a capital cost less than US$500,000 and the C1 operating costs are expected to be less than US$0.50/lb Zinc after by-product credits”.
Torex Gold Resources Inc. completed an updated technical report that includes a life of mine plan (LOM) of nine years and an increased average gold production of 430 K Oz Au per year, from 2019 to 2023 at its Limón-Guajes mine in Guerrero.” The TR also contains an updated Media Luna Preliminary Economic Assessment (PEA), with an after-tax NPV (5%) of $582M, and an after-tax IRR of 27%”.
Southern Silver Exploration Corp. reported assay results from initial core drilling on the 12,000 m 2018 drill program at its Cerro Las Minitas property in Durango. Highlighted true width (TW) intervals comprise 15.1 m @ 280 g/t Ag, 0.18% Cu, 0.9% Pb, 0.1% Zn (including 4.4 m @ 598 g/t Ag, 0.4% Cu, 2.1% Pb, 0.1% Zn) on the Skarn Front deposit, and 0.6 m @ 79 g/t Ag, 0.4 g/t Au, 1.2% Cu, 0.1% Pb, 14.1% Zn; 2.0 m @ 88 g/t Ag, 0.3 g/t Au, 0.2% Cu, 1.1% Pb, 2.6% Zn in Las Victorias zone, which extend mineralization for over 100 m to the southeast.
Impact Silver Corp. announced the discovery of a new ore shoot on the Lipton vein of the Guadalupe mine at its Zacualpan property in Estado de Mexico. To date the new zone has been drilled over a length of 120 m and vertical distance of 80 m, remaining open in all directions. Some of the highlighted true width intervals comprise 10.57 m @ 201 g/t Ag, 0.13 g/t Au, 0.2% Pb, 0.5% Zn (including 4.18 m @ 381 g/t Au, 0.09 g/t Au, 0.4% Pb, 1.1% Zn); 7.74 m @ 466 g/t Ag, 0.13 g/t Au, 0.5% Pb, 1.1% Zn; 8.82 m @ 306 g/t Ag, 0.11 g/t Au, 0.2% Pb, 0.5% Zn; 1.53 m @ 240 g/t Ag, 0.04 g/t Au, 0.7% Pb, 2.5% Zn; 2.87 m @ 308 g/t Au, 0.19 g/t Au, 0.3% Pb, 0.4% Zn.
Magellan Gold Corp. is focused on advancing El Dorado project in Nayarit towards production, planning to truck the ore to the SDA mill for processing. “The drilled resource appears to be sufficient to support an underground mining operation for five years at a mining rate of 100 tonnes per day….”. Magellan is applying for the necessary environmental and blasting permits, as well as quotes for contract mining.
Aura Minerals Inc. filed the NI-43-101 Feasibility Study and Technical Report on the Aranzazu mine in Zacatecas.
ON DEALS AND CORPORATE ISSUES
Golden Minerals Co. has sold its remaining interest on the Celaya property in Guanajuato, to The Electrum Group LLC. Golden Minerals is to receive a payment of US$3.0 M for selling 100% of its remaining mining concessions and related interests in the Celaya project located in Guanajuato.
Sonoro Metals Corp. optioned from a private owner the 9 ha “El Colorado” mining concession, within its Cerro Caliche project in Sonora. “The Option Agreement provides for Sonoro to acquire a 100% interest in El Colorado for total consideration to the Vendor of US$100,000, of which US$50,000 has been paid and the balance due in 6 months”. Seven thorough-going veins surrounded by quartz sotckwork areas and sheeted quartz veinlet zones present limited mining evidenced by tunnels, pits and trenches.
Metalla Royalty & Streaming Ltd. entered with GoGold Resources Inc. into an agreement to purchase a 2% net smelter return royalty on the Santa Gertrudis property in Sonora, for US$12 M in cash. The agreement is subject to a right of first refusal held by the owner of the project, Agnico Eagle Mines Ltd., right that has to be exercised with 45 days.
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 above, argillitized volcanic rocks above the famous Vizcaína vein in the Pachuca District, Hidalgo. Picture by Jorge Cirett.
