Mines

U.S. Antimony Reports Production

/ gambusinoprospectormexico / Leave a comment

http://www.businesswire.com/news/home/20160801005103/en/U.S.-Antimony-Reports-Production

THOMPSON FALLS, Mont.–(BUSINESS WIRE)–United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported the following sales estimates for July 2016:

Product July
Antimony pounds 173,498
BRZ zeolite tons 1,192
Gold from Australia ounces 76.6

During the month of July, the Rotterdam price per metric for antimony firmed from $6,575.00 ($2.98 per pound) to $6,950.00 ($3.15 per pound) by the end of the month, an increase of $375.00 per ton ($0.17 per pound). Mexican mine production is being ramped up to provide more smelter feed to Madero.

Starcore Reports Year End 2016 Results

/ gambusinoprospectormexico / Leave a comment

https://www.starcore.com/news/news-releases/starcore-reports-year-end-2016-results

Vancouver, B.C. – Starcore International Mines Ltd. (the “Company”) has filed the results for the adjusted year end dated April 30, 2016 for the Company and its mining operations. The full version of the Company’s Financial Statements and Management’s Discussion and Analysis can be viewed on the Company’s website at www.starcore.com, or SEDAR at www.sedar.com. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of Canadian dollars unless otherwise indicated.

On May 13, 2016, the Company changed its fiscal year end from July 31 to April 30. With this year-end change, the Company will report a one-time transitional period for the nine months ended April 30, 2016.

Golden Tag Completes $900,000 Financing, Inks Definitive San Diego Purchase Agreement

/ gambusinoprospectormexico / Leave a comment

http://www.marketwired.com/press-release/golden-tag-completes-900000-financing-inks-definitive-san-diego-purchase-agreement-tsx-venture-gog-2146700.htm

MONTREAL, QUEBEC–(Marketwired – July 29, 2016) – Golden Tag Resources Ltd. (TSX VENTURE:GOG) (the “Company“) is pleased to announce that it has now completed its previously announced financing which raised $900,000 through issuance of 18 million units (the “Units“) at an offering price of $0.05 per Unit. Each Unit is comprised of one common share (each, a “Share”) and one common share purchase warrant (each, a “Warrant“). Each Warrant entitles the holder thereof to purchase one additional common share (each, a “Warrant Share“) of the Company for a period of five years at a price of $0.07 per Warrant Share if exercised in the first year and $0.12 per Warrant Share if exercised in years two through five. Insiders of the Company purchased a total of 3,000,000 Units for aggregate gross proceeds of $150,000 of which $90,000 was subject to shareholder approval which was received at the annual meeting held on June 27, 2016.

Mexus gives a mine update, discusses audit and releases info on JV partner

/ gambusinoprospectormexico / Leave a comment

http://globenewswire.com/news-release/2016/08/01/860371/0/en/Mexus-gives-a-mine-update-discusses-audit-and-releases-info-on-JV-partner.html

CARSON CITY, Nev., Aug. 01, 2016 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”)  is pleased to announce that its 10k annual audit was completed and submitted last week.   The delay in presenting the audit resulted from a new auditor having to review the previous 3 years.  The auditor was happy with their findings which should lend support that all of the financials, as previously reported, are correct and accurate.

Work at the Santa Elena mine continues as planned.   The decision to enlarge the heap leach pad has made phase 1 of construction take longer than expected.   Marco Martinez, President of MarMar, states that the time involved to build out the infrastructure is well worth the delay when you consider our ultimate goal of having an operable mine for the next 25+ years.   Mexus had initially planned to start with a 10,000 ton pad.   MarMar decided to increase the size with the pad now being able to handle 250,000 tons.    Finally, the work done to date has brought the company to a point where 24 hour security is needed at the mine.   A firm has been hired and round the clock security is now in place.

Highlights on the fourth week of July 2016, Mineral Exploration in Mexico

/ Gambusino Prospector / Leave a comment

During the fourth week of July, at least 27 press releases from companies working in Mexico were published, with several majors producing second quarter reports. ON EXPLORATION, Oremex is trying to resolve community issues on its Durango project, Agnico Eagle released drilling updates on its Chihuahua and Jalisco properties and Coeur increases its exploration budget for 2016.  ON MINING, Goldcorp, Agnico Eagle, McEwen Mining, Capstone, Americas Silver, New Gold Coeur and Yamana presented second quarter results for 2016. ON FINANCING, four companies announced the closing of financing rounds, for total gross proceeds of $28.8 million. One company is changing name and possibly consolidating shares, one other is looking for financing with concentrate buyers and a last one has received a loan facility from its main stakeholder.  ON DEALS. Yamana is handing a mine in Sonora to Premier, while Goldcorp announced it will sell one of the biggest gold producing mines in Mexico. Riverside optioned a property in Sonora to Centerra. ON PROJECT DEVELOPMENT.  Telson is to start a commercial production test from its property in Chihuahua, Argonaut Gold received a favorable court ruling on its property in Baja, while Goldcorp announced the commencement of construction of a process plant in Zacatecas.

ON EXPLORATION

  • Oremex Silver Inc. has done two property visits on the las 18 months to its Tejamen property in Durango, gaining insight on the community issues, and the needs of government agencies, with the aim to obtain the surface rights at the site. On February of 2016 a new technical report on the property was issued.
  • Sediment Hosted Copper Deposits (SHCD) occur in Mexico. Cuatro Cienegas in Coahuila and Las Vigas and Salamayuca in Chihuahua are the best examples in northern Mexico.
  • Agnico Eagle Mines Ltd. announced that it has drilled 44,985 meters year to date in its Barqueño project in Jalisco. The drilling focused on the Angostura and Azteca-Zapoteca areas, and testing the new target areas Olmeca and Peña Blanca.  Significant high-grade intercepts are reported at Olmeca, which has been traced over 700 meters of strike length, with results including up to 4.5 g/t gold (capped) and 4.7 g/t silver over 11.0 meters estimated true width at 85 meters depth, and 9.4 g/t gold (capped) and 14.1 g/t silver over 5.1 meters estimated true width at 67 meters depth.
  • Agnico Mines Ltd. released recent exploration drill results from its Madroño prospect, within the Pinos Altos area in Chihuahua, including multiple mineralized intercepts in some holes, like 4 m @ 2.3 g/t Au and 28 g/t Ag; 8.5 m @ 2.4 g/t Au, 28 g/t Ag and 2.3 g/t Au, 5 g/t Ag in one hole.
  • Coeur Mining Inc. is increasing its exploration budget for 2016 from $11-$13 million to $13-$16 million, with an additional $16-$18 million of capital allocated to resource conversion (from $13-$13 million).

ON MINING

  • McEwen Mining Inc. reported production on the second quarter of 2016, which includes 15,640 AuEq ounces from its el Gallo mine in Sinaloa. The production guidance for 2016 stands at 55K AuEq ounces.
  • Capstone Mining Corp. released its second quarter financial results, which include the production of 3,288 tonnes of copper in concentrates at a Cash Cost of $1.52. Production continued to be challenged by a shortfall in mine development.
  • Americas Silver Corp. provided its second quarter 2016 results, which include the processing of 120K tonnes of ore running 88 g/t Ag with significant Cu, Pb and Zn credits, for a total production of 244 K Oz Ag, 2 M Lb Zn, 574 K Lb Pb and 245 K Lb Cu at its Cosalá operations in Sinaloa.
  • Goldcorp Inc. reported second quarter 2016 results, which include numbers from its properties in Mexico. At Peñasquito, Zacatecas, 9 M tonnes of ore were mined, 38.4 M tonnes of waste moved, 6.6 M tonnes of ore milled at a head grade of 0.39 g/t Au, 21.76 g/t Ag, 0.22% Pb and 0.48% Zn, for production of 36 K Oz Au, 3.1 M Oz Ag, 17.1 M Lb Pb and 38.3 M Lb Zn, at an AISC of $3,094 per gold ounce. At Los Filos, Guerrero, 2.3 M tonnes were mined, 2.7 M tonnes of waste moved, 2.437 M tonnes milled at a grade of 0.8 g/t Au, for a quarterly production of 66 K Oz Au at Cash Cost of $704 and AISC of $1071.
  • Agnico Eagle Mines Ltd. reported second quarter 2016 results, including figures from its Mexican operations. Pinos Altos in Chihuahua produced 49.4 K Oz Au and 633 K Oz Ag,, Creston Mascota (at Pinos Altos) 12.4 K Oz Au and 50 K Oz Ag, and La India in Sonora 27.4 K Oz Au and 105 K Oz Ag (Total 89.3 K Oz Au, 788 K Oz Ag). Total cash costs per ounce of gold produced – co-product basis is said to be $583 for Pinos Altos, 542 for Creston Mascota and 451 for La India.
  • New Gold Inc. presented second quarter 2016 results, including 17.3 K Oz Au and 0.2 K Oz Ag from its Cerro San Pedro mine in San Luis Potosi. Total Cash Cost per gold ounce was $898, and AISC $941 per Au Oz. Cerro San Pedro finished active mining in late June and has now transitioned to residual leaching.
  • Coeur Mining Inc. reported second quarter 2016 results, including numbers from its operations in Mexico. At Palmarejo, Chihuahua, 284 K tonnes were mined from U/G operations @ 168 g/t Ag and 2.49 g/t Au, while from the surface 1.7 K tonnes were mined @ 241.7 g/t Ag and 2.17 g/t Au. 270 K tonnes were milled to produce 1.3 M Oz Ag and 18.7 K Oz Au. The full 2016 guidance remains at 3.9 – 4.4 M Oz Ag and 67-72 K Oz Au.
  • Yamana Gold Inc. provided second quarter 2016 results, including 22,948 Oz Au and 103,262 Oz Ag from its Mercedes mine in Sonora. Cash costs were $720 per ounce of gold and $9.05 per ounce of silver.

ON FINANCING

  • Marlin Gold Mining Ltd. announced the completion of its non-brokered private placement, raising gross proceeds of approximately $6.5 million (La Trinidad mine, Sinaloa).
  • Geologix Explorations Inc. closed its non-brokered private placement for gross proceeds of $1.1 million (Tepal, Michoacan).
  • Oremex Silver Inc. is in course of changing name to Monarch Minerals Inc. in the next few weeks, with a seven for one share consolidation probably coming (Tejamen, Durango).
  • Excellon Resources Inc. closed its previously announced bought deal public offering, for aggregate gross proceeds of $15.2 million (Platosa, Durango).
  • Americas Silver Corp. continues to advance the San Rafael brownfield development project at its Cosalá Operations in Sinaloa. “The Company also began soliciting financing proposals from a number of concentrate off-takers and metals trading companies, in addition to traditional and non-traditional funding sources… The Company expects the Project to start construction before the end of the third quarter of 2016”.
  • Telson Resources Inc. entered into an agreement with its largest shareholder, Estratégica Corporativa en Finanzas, S.A.P.I. de C.V. that provides Telson access to a line of credit of approximately $10.5 million over a period of five years commencing on Jul 22, 2016 (Tahuehueto, Durango).
  • Kootenay Silver Inc. closed its previously announced brokered private placement, for total gross proceeds of $5.17 million. The company also closed an additional concurrent non-brokered private placement for additional gross proceeds of $854 K, for a total of $6.02 million (La Cigarra, Chihuahua).

ON DEALS

  • Riverside Resources Inc. optioned its Glor gold project in Sonora to Centerra Gold Inc. Centerra will have the opportunity to earn a 70% interest in the Project by funding US$3.5 million in exploration work over the next four years.
  • Yamana Gold Inc. announced the entering on a definitive share purchase agreement to sell 100% of the Mercedes mine in Sonora to Premier Gold Mines Ltd., for a total of cash and equity securities at a value of $140 million at the time of negotiations. The deal involves $122.5 million in cash, ~6 million shares of Premier and ~3 million shares warrants.
  • Goldcorp Inc. announced that its Los Filos mine in Guerrero is in a list of properties to be sold.

ON PROJECT DEVELOPMENT

  • Telson Resources Inc. is to start underground development to collect a minimum 2,000 tonnes bulk sample from the El Creston Zone in its Tahuehueto property in Durango, to conduct an industrial scale production test of the mineralization. Bulk sample materials will be transported and processed at a mill located about 120 km from the mine.
  • Goldcorp Inc. is to begin in August the construction of the Pyrite Leach Project at the Peñasquito mine in Zacatecas, which aims to recover 40% of the gold and 48% of the silver currently going to the tailings. The project is to commence commercial production on Q1 2019, adding 100-140 K Au Oz and 4-6 M Oz Ag per year.
  • Argonaut Gold Inc. announced “that the federal court of appeals has issued a favourable ruling regarding its Federal lawsuit arising from the denial of the Environmental Impact Assessment (Manifiesto de Impacto or MIA) for its San Antonio project in Baja California Sur, Mexico.”. SEMERANT had denied in 2012 the permit due in part to a local zoning plan that seems not to be validly constituted.

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

On the picture below, strong folding and faulting on layers of the Chilillos Formation, as seen at El Salvador pit, above the San Nicolas VMS deposit in Zacatecas.

OLYMPUS DIGITAL CAMERA

OLYMPUS DIGITAL CAMERA

Agnico Eagle. Mid-Year 2016 Exploration Update

/ Gambusino Prospector / Leave a comment

http://ir.agnicoeagle.com/English/investor-relations/news-releases/news-release-details/2016/Mid-Year-2016-Exploration-Update-Expansion-of-Whale-Tail-and-V-Zones-at-Amaruq-Initial-Results-Reported-from-the-Odyssey-Zone-New-Zones-of-Mineralization-Outlined-at-Madrono-and-El-Barqueno-in-Mexico-Sisar-Zone-Continues-to-Expand-at-Kittila/default.aspx

TORONTO, July 27, 2016 /PRNewswire/ – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) (“Agnico Eagle” or the “Company”) is pleased to provide an update on its 2016 exploration activities at the Amaruq project in Nunavut, the Sisar Zone at Kittila, the Barsele project in Sweden, the 50% owned Odyssey prospect adjoining the Canadian Malartic mine, the Madrono prospect adjoining the Pinos Altos and Creston Mascota operations and the El Barqueno project in Mexico.  Highlights include:

 

  • New zones of mineralization outlined at the Madrono prospect – Agnico Eagle has undertaken a first campaign of drilling on this recently acquired property surrounded by its Pinos Altos mine property, just 0.5 kilometres from the Creston Mascota pit.  Mapping and sampling of historical mine workings have quickly identified high-potential targets.  The initial drilling has returned up to 4.1 g/t gold and 64.5 g/t silver (both grades uncapped) over 6.2 metres estimated true width at 45 metres depth in hole MAD16-005, confirming the potential to outline additional high-grade satellite zones close to the existing mines.
  • El Barqueno Project – Drilling outlines new, 700-metre-long Olmeca structure and extends existing deposits – Drilling is currently moving beyond the deposits that host the mineral resources.  Significant high-grade intercepts are reported at the new Olmeca prospect, which has been traced over 700 metres of strike length.  Results from Olmeca include up to 4.5 g/t gold (capped) and 4.7 g/t silver (uncapped) over 11.0 metres estimated true width at 85 metres depth in drill hole OLM16-010, and 9.4 g/t gold (capped) and 14.1 g/t silver (uncapped) over 5.1 metres estimated true width at 67 metres depth in drill hole in OLM16-003.

 

Goldcorp pone a la venta mina Los Filos en México

/ gambusinoprospectormexico / Leave a comment

http://www.elfinanciero.com.mx/empresas/goldcorp-pone-a-la-venta-mina-los-filos-en-mexico.html

Goldcorp Inc puso a la venta su mina de oro y plata Los Filos en México y también contempla deshacerse de otras dos minas no básicas, dijo el jueves el director ejecutivo de la empresa, David Garofalo.

La firma con sede en Vancouver ha comenzado el proceso de venta formal de la mina Los Filos, dijo Garofalo en una entrevista, y está estudiando opciones para su mina Alumbrera en Argentina y la operación Marlin en Guatemala.

Yamana Gold Announces Second Quarter 2016 Results

/ gambusinoprospectormexico / Leave a comment

http://www.marketwired.com/press-release/yamana-gold-announces-second-quarter-2016-results-tsx-yri-2146470.htm

TORONTO, ONTARIO–(Marketwired – July 28, 2016) – YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) (“Yamana” or “the Company”) is herein reporting its financial and operational results for the second quarter 2016, including total gold production of 313,086 ounces, revenue of $466.5 million, net earnings(1) of $32.9 million or $0.03 per share, and adjusted earnings(1,2) of $5.4 million or $0.01 per share. Additional highlights are provided below.

In addition, the Company is herein providing an exploration update for its 50% owned Odyssey deposit, which is located east of the main open pit at Canadian Malartic. The exploration program at Odyssey continues to return positive results and an Inferred Mineral Resource for the Odyssey North zone is expected by year end 2016. The Company expects to provide an exploration update with further details in the coming weeks on several of its properties, in particular, Chapada, Jacobina, Gualcamayo and C1 Santa Luz.

Yamana Gold Announces Sale of its Mercedes Mine in Mexico

/ gambusinoprospectormexico / Leave a comment

http://www.marketwired.com/press-release/yamana-gold-announces-sale-of-its-mercedes-mine-in-mexico-tsx-yri-2146469.htm

TORONTO, ONTARIO–(Marketwired – July 28, 2016) – YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) (“Yamana” or “the Company”) is pleased to announce that it has entered into a definitive Share Purchase Agreement (the “Agreement”) to sell 100% of its interest in the Mercedes mine in Sonora, Mexico to Premier Gold Mines Limited (“Premier”) (herein referred to as the “Transaction”). Pursuant to the Agreement, Yamana will receive consideration in the form of cash and equity securities, the value of which was $140 million at the time of negotiations. Total cash and equity securities consideration is summarized as follows:

  1. Cash consideration of $122.5 million;
  2. Approximately 6 million Premier common shares; and
  3. Approximately 3 million Premier common share purchase warrants (exercisable at C$4.75 per common share for 24 months from the closing of the Transaction).

The Company expects to use the proceeds from the Transaction to reduce the Company’s net debt position.

Argonaut Gold Receives Favourable Ruling in Federal Lawsuit Relating to San Antonio Permit

/ gambusinoprospectormexico / Leave a comment

http://www.argonautgold.com/news_events/news/news_release/index.php?&content_id=299

Toronto, Ontario – (July 28, 2016) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) announces that the federal court of appeals has issued a favourable ruling regarding its Federal lawsuit arising from the denial of the Environmental Impact Assessment (Manifiesto de Impacto or MIA) for its San Antonio project in Baja California Sur, Mexico.

On August 2, 2012, the Company was denied its Environmental Impact Assessment for its San Antonio project due in part to a local zoning issue.  The Company filed a Federal lawsuit stating that the local zoning plan was not validly constituted and therefore should not have been an obstacle to the permitting of the project.

The Company has received a copy of the federal appeals court ruling in its finding that the current Urban Development Plan for the Municipality of La Paz (“zoning plan”) was not properly established and therefore should not have been used as a criteria in the review of the MIA for the San Antonio project. Furthermore, the ruling instructed the Mexican Environmental Authority (SEMARNAT) to annul the denial of the MIA and issue a new decision without taking into consideration the zoning plan within three business days of notification of the ruling.  The Company continues to review the full text of this ruling with its advisors and consider the next steps that will be undertaken by both the Company and SEMARNAT.  The Company cautions that there is no assurance that permits will be issued imminently and that permitting continues to be subject to regulatory processes of uncertain duration.