VANCOUVER, July 15, 2016 /CNW/ – GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL) (“Great Panther”; the “Company”) announces that the processing plant at the Topia Mine in Durango, Mexico has resumed full operation. The area of Tuesday’s accident has been locked down pending completion of an investigation by the relevant authorities and, to this end, the Company is providing its full support and cooperation.
Mines
Minera Alamos Inc. Discusses Expansion Potential at La Fortuna Gold Project
TORONTO, ONTARIO–(Marketwired – July 15, 2016) – Minera Alamos Inc. (TSX VENTURE:MAI) (the “Company” or “Minera Alamos“) today announced the completion of its review of the most recent exploration data from the La Fortuna gold project in Durango, Mexico which confirms significant potential for growth beyond the project’s current Measured and Indicated Mineral Resources of 4,824,000 tonnes at 1.99 g/t gold containing 308,100 gold ounces (see Company’s press release dated January 18, 2016).
“A very thorough reconnaissance program of surface mapping and sampling was performed over the La Fortuna concession area by the previous owners,” said Miguel Cardona, Vice President, Exploration at Minera Alamos. “The compilation of this data and available historical information has allowed us to define geological models for potential ore deposits across the entire project. Recommendations are now being developed for further exploration work.”
Gold Mexico Production Results Argonaut Gold Announces Q2 Production of 29,237 Gold Equivalent Ounces
TORONTO, ONTARIO–(Marketwired – July 14, 2016) – Argonaut Gold Inc. (TSX:AR) (“Argonaut”, “Argonaut Gold” or the “Company”) announces production of 29,237 gold equivalent ounces (“GEOs”) during the second quarter ended June 30, 2016 (“Q2”). Given the lower than anticipated production during the second quarter, the Company is now guiding toward the lower end of its 2016 production guidance to between 130,000 to 135,000 GEOs (previously 130,000 to 140,000 GEOs). All dollars in this press release are expressed in U.S. dollars, unless otherwise noted.
| 2nd Quarter | Change | Year to date | Change | |||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||
| Total Gold Equivalent Ounce Production: | ||||||||||||
| GEOs loaded to the pads1 | 63,724 | 55,871 | 14% | 114,726 | 110,125 | 4% | ||||||
| GEOs projected recoverable ounces1,2 | 32,125 | 31,617 | 2% | 59,981 | 63,251 | (5%) | ||||||
| GEOs produced ounces1 | 29,237 | 36,529 | (20%) | 61,391 | 79,784 | (23%) | ||||||
| GEOs ounces sold1 | 31,230 | 36,547 | (15%) | 61,242 | 78,965 | (22%) | ||||||
| 1 GEOs are based on conversion ratio of 65:1 for silver to gold for 2016 and 55:1 for 2015. This is the referenced ratio throughout the release |
| 2 Recoverable ounces – El Castillo expected gold recovery rates: ROM oxide 50%, crushed oxide 70%, ROM transition 40%, crushed transition 60%, crushed sulphides argillic 30% and crushed sulphides silicic 17%; La Colorada expected recovery rates: gold 60% and silver 30% |
Drilling confirms further high grades at Plomosas
Click to access 20160714-CZL-Announcement-14-July-2016-FINAL.pdf
Ongoing drilling at Consolidated Zinc Limited’s (ASX: CZL; “Consolidated Zinc” or “the Company”) Plomosas project in Mexico has confirmed the extension of massive sulphide mineralisation. The further high grade discoveries come from deeper drilling below the Company’s level 7 mine development. Visual results for holes LV7DD020 to 022 and LV7023 were previously reported and subsequent assay results confirmed those observations with grades up to 50% Zn and Pb over true widths up to 5.20m. Table 1 summarises the grades and intervals returned. In addition, drill holes LV7024 and LV7026 were completed with the latter returning 8.50m (TW 3.02m) at 34.99% Zn, 15.40% Pb and 158.5 g/t Ag
Pan American Silver announces completion of the sulphide processing plant at the La Colorada mine
VANCOUVER, July 13, 2016 /CNW/ – Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAA) (the “Company”, or “Pan American”) today announced that it has achieved a significant milestone in the expansion of its La Colorada mine in Mexico, with the successful commissioning of the new sulphide ore processing plant. The new plant began processing sulphide ore on July 1, 2016, achieving production throughput rates of over 1,400 tonnes per day (“tpd”) and over 14,000 tonnes treated by July 10. Throughput rates will be slightly reduced until the mine shaft and additional underground development have been completed to provide higher ore supply.
As well, in July 2016, Cámara Minera de México (“Camimex”) awarded Pan American’s La Colorada mine with the prestigious “Casco de Plata” award for the safest underground mine in Mexico in 2015 with more than 500 employees.
“I am proud of our team’s ability to safely and successfully complete the new sulphide plant ahead of schedule and on budget without incurring a single lost-time accident,” said Michael Steinmann, President and CEO of Pan American. “The expansion at La Coloradatogether with the expansion of our Dolores mine form our core areas of growth in Mexico, and should lead to lower-cost, higher-margin silver production for Pan American.”
Santacruz Closes Equity Financing and Completes Restructuring of Silver Pre-Payment Agreement
VANCOUVER, July 14, 2016 /CNW/ – Santacruz Silver Mining Ltd. (“Santacruz” or the “Company”) (TSX.V:SCZ) is pleased to report that it has closed its previously announced public offering of units (the “Offering“) through a syndicate of agents led by Haywood Securities Inc. and including M Partners Inc. (collectively, the “Agents“) and has completed the previously announced restructuring of its Silver Pre-Payment Agreement with JMET, LLC (“JMET“). The restructuring amends the Silver Pre-Payment Agreement such that, among other things, the Company no longer has any metal delivery obligations to JMET.
The Company has issued 37,975,000 units (the “Units“) pursuant to the Offering at a price of C$0.40 per Unit for total gross proceeds of C$15,190,000. The Offering included 4,875,000 Units issued pursuant to the Agents’ exercise in full of their option to purchase additional Units. Each Unit consisted of one common share and one-half of one transferable common share purchase warrant (each whole common share purchase warrant, a “Warrant“). Each Warrant entitles the holder to acquire one common share (a “Warrant Share“) at a price per Warrant Share of C$0.55 for a period of 30 months from closing.
The Company has used a portion of the net proceeds of the Offering to restructure its obligations to JMET, as described below, with the remainder to be used for general working capital purposes.
GoGold produces 361,705 silver equivalent ounces with cash cost of $6.91
HALIFAX, July 14, 2016 /CNW/ – GoGold Resources Inc. (TSX: GGD) (“GoGold”, “the Company”) reports that the Company produced 361,705 silver equivalent ounces for the quarter ended June 30, 2016 which represents an 8 percent increase over the previous quarter. The Company also increased the number of recoverable ounces placed on the heap leach pad by 26% to 775,537 over the previous quarter. The Parral project continues to be a low cost operation with cash costs averaging $6.91 per silver equivalent ounce for the quarter.
“We ended the quarter with our strongest production rates to date thanks to operational improvements made over the past six months that took effect,” said Brad Langille, President and CEO. “Shareholders can continue to expect a steady rise in production quarter over quarter for the remainder of the year.”
Great Panther Silver reports second quarter 2016 production results
VANCOUVER, July 14, 2016 /CNW/ – GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL) (“Great Panther”; the “Company”) announces production results for the second quarter (“Q2”) 2016 from its two wholly-owned Mexican silver mining operations: the Guanajuato Mine Complex (“GMC”), which includes the San Ignacio Mine, and the Topia Mine in Durango.
Second Quarter 2016 Production Highlights (Compared to Second Quarter 2015)
- Consolidated metal production decreased 5% to 1,037,728 silver equivalent ounces (“Ag eq oz”)
- Silver production decreased 17% to 536,726 silver ounces (“Ag oz”)
- Gold production increased 13%, with 6,010 gold ounces (“Au oz”) produced
- Ore processed increased 14% to 99,905 tonnes milled
Great Panther Silver reports fatal accident at its Topia Mine
VANCOUVER, July 13, 2016 /CNW/ – GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL; “Great Panther”) regrets to report the fatality of a contract worker that occurred on Tuesday, July 12 at its Topia processing plant in Durango, Mexico.
“We are deeply saddened by this tragic event,” stated Robert Archer, President and CEO. “On behalf of all of us at Great Panther, I wish to extend our most sincere condolences to the deceased’s family and friends, and to all of our co-workers at our Topia Mine. Regrettably, this accident comes even as we are continuing a complete safety review across all of our operations. All such incidents are unacceptable and we will continue to do everything possible to prevent a recurrence.”
The Company is currently assessing the cause of the accident and is fully cooperating with the relevant authorities. As the accident occurred at the plant, processing has been halted pending a full investigation. Mining operations are unaffected however, and ore will be stockpiled until all investigations are completed. Great Panther is fully committed to providing a safe working environment by striving to eliminate safety and health hazards to the fullest extent possible.
Timmins Gold Reports Production of 25,863 Gold Ounces for the Second Quarter of 2016
HERMOSILLO, MEXICO–(Marketwired – July 13, 2016) – Timmins Gold Corp. (TSX:TMM)(NYSE MKT:TGD) is pleased to report preliminary production results for the Company’s second quarter ended June 30, 2016. The Company achieved production of 25,863 gold ounces for the quarter.
Three Months and Six Months Ended June 30, 2016
| 2Q 2016 | 2Q 2015 | 1H 2016 | 1H 2015 | |
| Ore Processed (Dry t) | 1,939,567 | 2,252,591 | 3,943,278 | 4,327,379 |
| Average Grade Processed (g/t Au) | 0.60 | 0.53 | 0.61 | 0.53 |
| Low Grade Stockpiled (t) | 0 | 47,446 | 3,966 | 159,652 |
| Average Grade Stockpiled (g/t Au) | 0.00 | 0.28 | 0.24 | 0.26 |
| Waste Mined (t) | 3,729,153 | 7,151,798 | 8,437,814 | 13,149,695 |
| Total Mined (t) | 5,577,828 | 9,270,013 | 12,285,809 | 17,354,241 |
| Strip Ratio | 2.02 | 3.38 | 2.19 | 3.13 |
| Gold Produced (oz) | 25,863 | 22,869 | 50,983 | 47,023 |
| Silver Produced (oz) | 14,884 | 13,041 | 29,555 | 28,350 |
| Gold Sold (oz) | 26,474 | 22,869 | 51,141 | 47,023 |
| Silver Sold (oz) | 14,884 | 13,041 | 29,555 | 28,350 |
| Days | 91 | 91 | 182 | 181 |
| Average Ore Processed (t/d) | 21,314 | 24,754 | 21,666 | 23,908 |
| Average Total Mined (t/d) | 61,295 | 101,868 | 67,504 | 95,880 |
| Realized Gold Price | $1,232 | $1,216 | $1,201 | $1,218 |