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The Mining and Exploration News in Mexico: Highlights on the Third Week of March, 2024

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Mn-Fe veinlets hosted in rhyolites

By Miguel A Heredia

During the 12th week of the year (March 18th to March 24th, 2024), at least 18 press releases were announced by companies working in Mexico, with seven communicating production results, four disclosing deals and corporate issues, four announcing financing issues, two reporting resources and developments of their projects, and one commenting on Mexican issues.  ON MEXICO ISSUES, Vizsla reported the best drilling intercepts in Mexico on the third week of March, 2024. ON EXPLORATION, no relevant news. ON MINING, Sierra Metals reported Q43 and year-end 2023 production results from its Bolivar mine in Chihuahua, and provided production and cost guidance for 2024. Starcore reported Q3 results ended January 31, 2024 from its San Martin mine in Queretaro. Avino reported Q4 and full year 2023 production and financial results (Avino mine, Durango). Golden Minerals released consolidated financial results from Rodeo and Velardeña mines, both located in Durango State. Orla reported Q4 and full year 2023 production and financial results from its Camino Rojo mine in Zacatecas. Orogen announced preliminary 2023 full year financial results. MAG Silver reported 2023 annual production and financial results from its Juanicipio mine in Zacatecas.  ON FINANCING, Bear Creek Mining has drawn down USD $750K for a total principal amount of USD $19,767,612.35 outstanding under the Sandstorm Promissory Note (Mercedes mine, Sonora). Americas Gold and Silver firstly announced a private placement for gross proceeds of CAD $6.5M and later increased it to CAD $7.5M (Cosala mine, Sinaloa). Sailfish declared Q1, 2024 dividend. ON RESOURCES AND DEVELOPMENT, Tocvan reported that it is advancing a significant gold-silver land package in Sonora, Mexico (Pilar project). Vizsla released results from 27 new infill and expansion drill holes targeting the Copala resource area at its flagship Panuco project, Sinaloa. ON DEALS AND CORPORATE ISSUES, Bear Creek granted 500K stock options to its CFO, exercisable at CAD $0.245 per share (Mercedes mine, Sonora). Atacama Copper retained Cascade Corporate Consulting for investor relations services (Las Cristinas project, Chihuahua). Colibri announced that it will retain 49% interest in Pilar project in Sonora and will enter into a JV.  Sailfish announced termination of share purchase option agreement with CMC.  ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUE

  • Vizsla Silver Inc., reported the best drilling intercepts in Mexico on the third week of March, 2024. Details are shown in the table below:

ON EXPLORATION

  • No relevant news.

ON MINING

  • Sierra Metals Inc., reported Q43 and year-end 2023 production results from its Bolivar mine in Chihuahua and provided production and cost guidance for 2024 (All currency amounts are expressed in US dollars). In Q4, 2023, the company processed 409,995 tonnes to produce 9,150,000 Lb CuEq at cash and all in sustaining costs of $1.90 and $3.47 per Lb CuEq payable respectively. Sierra Metals reported cost of sales of $23,243,000 and a total cash cost of $19,035,000. In the full year 2023, the company processed 1,477,889 tonnes to produce 34,579,000 Lb CuEq at cash and all in sustaining costs (AISC) of $1.87 and $3.29 per Lb CuEq payable respectively. Sierra Metals reported cost of sales of $82,188,000 and a total cash cost of $66,381,000. Sierra Metal provided production and cost guidance for 2024. It estimated to produce between 23,900,000-27,600,000 Lb CuEq, 650K-750K Oz Ag, and 8000-9,200 Oz Au at cash and AISC of $2.56-$272 and $3.28-$3.36 per Lb Cu Eq respectively.
  • Starcore International Mines Ltd., reported Q3 results ended January 31, 2024 from its San Martin mine in Queretaro. The company processed 52,700 tonnes of 1.58 g/t Au and 15 g/t Ag with metallurgical recoveries of 89.1% and 50.3% respectively to produce 2.4K Oz Au and 12.4K Oz Ag (2.5K Oz AuEq) at mine operating cash and AISC of USD $1,674 and USD $2,156 per Oz AuEq respectively. Starcore reported revenue of CAD $6,784,000 and earnings of CAD $795,000.
  • Avino Silver & Gold Mines Ltd., reported Q4 and full year 2023 production and financial results from its Avino mine in Durango (all currency amounts are expressed in US dollars). In Q4, 2023 the company milled 143,738 tonnes to produce 224.7K Oz Ag, 1,452 Oz Au, and 1.32M Lb Cu (558.5K Oz AgEq) at cash and AISC of $15.04 and $21.67 per Oz AgEq payable respectively. Avino sold 548K Oz AgEq in this period. It also reported revenue of $12.53M; mine operating income of $2.6M; net income of $0.6M, EBITDA of $1.1M, and adjusted earnings of $2M. In the full year 2023, the company milled 615,373 tonnes to produce 928.6K Oz Ag, 7,335 Oz Au, and 5.3M Lb Cu (2.4M Oz AgEq) at cash and AISC of $15.61 and $21.87 per Oz AgEq payable respectively. Avino sold 2.1M Oz AgEq in this period. It also reported revenue of $43.9M; mine operating income of $7.8M; net income of $0.5M, EBITDA of $2.5M, and adjusted earnings of $4.6M.
  • Golden Minerals Company released consolidated financial results from Rodeo and Velardeña mines, both located in Durango State (all figures are expressed in US dollars). The company reported revenue of $12M; cost of metals sold of $12.4M; other operating income of $2.3M; net loss of $9.2M or $1.08 per share; cash and equivalents balance of $3.8M; debts was zero; cash inflows of $9.7M; and total expenditures of $9.9M. Rodeo mine concluded operations in June 2023 and finished processing stockpiled material in September 2023, while Velardeña began mining activities in December 2023 given newer favorable concentrate terms, positive results of testing activities and of recent metallurgical and economic analyses, but operations were subsequently shut down in late February 2024 after the initial performance of the mine and processing plant did not achieve expected results.
  • Orla Mining Ltd., reported Q4 and full year 2023 production and financial results from its Camino Rojo mine in Zacatecas (all amounts expressed in US dollars). In the period Q4, 2023, the company produced 34,484 Oz Au and sold 31,300 Oz Au at cash and AISC per Oz Au of $536 and $802 respectively, and at an average realized Au price of $1,974 per Oz Au. It also reported revenue of $629M; net income of ($58.4M); adjusted earnings of $15.7M; adjusted earnings per share of $0.05; cash flow from operating activities of $24.7M; free cash flow of ($8.2M); cash and cash equivalents of $96.6M; and net cash (debts) of $8.3M. In the full year 2023, the company produced 121,877 Oz Au and sold 118,993 Oz Au at cash and AISC per Oz Au of $506 and $736 respectively, and at an average realized Au price of $1,941 per Oz Au. It also reported revenue of $233.6; net income of ($27M); adjusted earnings of $47.8M; adjusted earnings per share of ($0.09); cash flow from operating activities of $68.9M; free cash flow of $23.6M; cash and cash equivalents of $96.3M; and net cash (debts) of ($49.5M).
  • Orogen Royalties Inc., announced preliminary Q4 and 2023 full year financial results (all figures are in Canadian dollars). The Company’s royalty portfolio includes the Ermitaño gold and silver Mine in Sonora, Mexico (2.0% NSR royalty) operated by First Majestic Silver Corp.  For the period Q4, 2023, Orogen reported royalty revenue of $1.8M and for the full year 2023 of $5.9M. According to First Majestic, forecasted production guidance from the Santa Elena mine complex in 2024 is 81,000 to 90,000 ounces gold and 1.1 to 1.2 million ounces silver, with over 90% of the production from the Ermitaño mine. The Company estimates that this will result in royalty revenues between $4.5M and $5.0M based on gold price of USD $2,000 per Oz.  
  • MAG Silver Corp., reported 2023 annual production and financial results on a 100% basis from its Juanicipio mine in Zacatecas (44% MAG/56% Fresnillo plc) (all amounts are reported in $000´s of US dollars). The company mined 1,097,289 tonnes and processed 1,268,757 tonnes of 472 g/t Ag, 1.27 g/t Au, 1.1% Pb, and 2% Zn to produce 15.3M Oz Ag, 31.73K Oz Au, 25.9M Lb Pb, and 36.9M Lb >Zn at cash and AISC of $6.07 and $10.32 per Oz Ag sold respectively. The company also reported  a net income of $48,659 ($0.47 per share) (equity accounted) of $65,099; and adjusted EBITDA of $97,480; operating cash flow and free cash flow of $145,064 and $60,814 respectively; cash balances of $42,913; and Interest and loan principal repayments returned to MAG during 2023 totalled $33,354.

ON FINANCING

  • Bear Creek Mining Corporation has drawn down USD $750K for a total principal amount of USD $19,767,612.35 outstanding under the Sandstorm Promissory Note. Sandstorm has provided additional credit of up to USD $375K per month until August 2024, with the option to convert the drawn amounts in common shares, and will be used for continuing exploration work at its Mercedes mine in Sonora and general working capital purposes.
  • Americas Gold and Silver Corporation announced a private placement of up to 21,667,000 units of the company at a price of CAD $0.30 per unit for gross proceeds of CAD $6.5M, and later on it increased to 25,000,000 units of the company at a price of CAD $0.30 per unit for gross proceeds of CAD $7.5M. Each unit will be comprised of one common share of the company and one common share purchase warrant of the company. Part of the gross proceeds will be used for working capital requirements at its Cosala mine, Sinaloa, and for general and administrative purposes.
  • Sailfish Royalty Corp., declared Q1, 2024 dividend and announced termination of share purchase option agreement with CMC. Its Board of Directors has declared the Company’s first quarterly cash dividend for 2024 in the amount of USD $0.0125 per common share that will be payable on April 15, 2024 to Sailfish shareholders of record as of the close of business on March 31, 2024.

ON RESOURCES AND DEVELOPMENT

  • Tocvan Ventures Corp., reported that it is advancing a significant gold-silver land package in Sonora, Mexico, particularly focusing on the Pilar Project spanning over 22 square kilometers. With extensive drilling and exploration efforts, the company aims to transition towards production by developing mine permits, conducting an extensive drill program, and evaluating new target areas. Positioned in a mining-friendly jurisdiction with quality assets and surrounded by operational mines, Tocvan is poised to become a key player in the region’s mining sector.
  • Vizsla Silver Corp., released results from 27 new infill and expansion drill holes targeting the Copala resource area at its flagship Panuco project, Sinaloa. Drilling highlights (true widths reported) include holes CS-24-342 with 487 g/t Ag and 3.69 g/t Au (703 g/t AgEq) over 6m, plus 252 g/t Ag and 1.25 g/t Au (317 g/t AgEq) over 0.95m, plus 304 g/t Ag and 1.01 g/t Au (347 g/t AgEq) over 0.55m, and plus 1,435 g/t Ag and 3.83 g/t Au (1,576 g/t AgEq) over 0.6m; hole COP-2023-001 with 240 g/t Ag and 1.61 g/t Au (332 g/t AgEq) over 13.6m, including 1,075 g/t Ag and 11.55 g/t Au (1,793 g/t AgEq) over 1.1m, plus 508 g/t Ag and 1.19 g/t Au (547 g/t AgEq) over 0.80m; hole COP-2023-004 with 318 g/t Ag and 5.23 g/t Au (658 g/t AgEq) over 5.1m, including 338 g/t Ag and 16 g/t Au (1,436 g/t AgEq) over 0.28m, including 1,270 g/t Ag and 13.45 g/t Au (0.96 g/t AgEq) over 0.96m; and hole CS-24-339 with 738 g/t Ag and 2.28 g/t Au (832 g/t AgEq) over 2.92m, plus 267 g/t Ag and 0.87 g/t Au (304 g/t AgEq) over 0.8m. “The reported drilling, designed to both infill and expand mineralization, successfully confirmed high-grade continuity throughout Copala and extended mineralization by ~100m down dip to the southeast”.

ON DEALS AND CORPORATE ISSUES

  • Bear Creek Mining Corporation granted 500K stock options to its CFO, exercisable at CAD $0.245 per share, exercisable on or before March 19, 2034 (Mercedes mine, Sonora).
  • Atacama Copper Corporation retained Cascade Corporate Consulting Ltd for investor relations services to aid the company in building awareness in the financial community by maintaining relationships between the management of the company and investors (Las Cristinas project, Chihuahua).
  • Colibri Resource Corporation announced that it will retain 49% interest in Pilar project in Sonora and will enter into a JV on a 51% Tocvan / 49% Colibri basis to advance the project.
  • Sailfish Royalty Corp., announced the termination of the share purchase option agreement between the Company and CMC Metals Ltd pursuant to which the Company granted CMC the option to acquire all of the issued and outstanding shares of Swordfish Silver Corp. which, through Sailfish de Mexico S.A. de C.V., holds the mineral rights in and to the silver exploration project located in the Municipality of San Dimas, State of Durango, Mexico, known as the Gavilanes property. CMC has purported to unilaterally terminate the Agreement. The Company has accepted the termination and has engaged experienced litigation counsel in British Columbia to review this matter and seek all available remedies including damages

ON SOCIAL RESPONSIBILITY

  • No relevant news.

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

On the picture above, Mn-Fe veinlets hosted in rhyolites in an intermediate sulphidation epithermal vein system in a project in Chihuahua, Mexico. Photo taken by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the First Week of March, 2024

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Quartz-barite-specularite vein

By Miguel A Heredia

During the 10th week of the year (March 4th to March 10th, 2024), at least 24 press releases were announced by companies working in Mexico, with eight disclosing deals and corporate issues, five communicating production results, four announcing financing issues, four informing on exploration results, and three reporting resources and developments of their projects.  ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Sonora, Tocvan reported surface exploration results from areas located over 6km north of the El Pilar Main Zone at its Pilar project, and Aztec reported final results from the 2023 RC drilling from its Cervantes project. In Chihuahua, Radius secured funding to commence drilling at the Plata Verde project. In Durango, Centenario Gold announced results from the first drill program on its Eden project. ON MINING, SilverCrest announced that it will file its audited annual financial statement and management discussion and analysis for the fiscal year ended December 31, 2023 on March 11th, 2024 (Las Chispas mine, Sonora). Argonaut reported Q3 and year-end 2023 production and financial results from their Mexican operations. Fortuna released Q3 and end-year production results from its San Jose mine in Oaxaca. Luca Mining reported production results from its Tahuehueto, Durango and provided an update on its Campo Morado, Guerrero mine operation. MAG Silver reported a preliminary 2024 Juanicipio, Zacatecas guidance. ON FINANCING, Capitan Silver announced that it intends to rise CAD $1.5M by way of a non-brokered private placement (Cruz de Plata project, Durango). Infinitum Copper announced a private placement (amended later on) for gross proceeds of up to CAD $450K (Adelita project, Sonora). Reyna Silver increased the size of its non-brokered private placement and announced the second closing of the life offering and the first closing of the concurrent private placement (Guigui and Batopilas projects, Chihuahua).  ON RESOURCES AND DEVELOPMENT, Tocvan reported that a RC drilling is to commence at its Pilar project in Sonora. Kootenay filed a NI 43-101 Technical Report on its La Cigarra project, Chihuahua.  GR Silver provided an operational update and announced the start of a small bulk sampling and test mining at its Plomosas project in Sinaloa. ON DEALS AND CORPORATE ISSUES, US Antimony announced executive management changes. Golden Minerals announced that one member of its Board of Director has passed away (Velardeña property, Durango).  Sierra Metals announced the appointment of its Vice President, Health, & Safety, effective March 1, 2024 (Bolivar mine, Chihuahua). Pan American announced that the Toronto Stock Exchange (TSX) accepted its intention to purchase up to 5% of Pan American´s issued and outstanding shares (La Colorada, Zacatecas-Durango). Goldgroup reported a contractor fatality at its Cerro Prieto mine in Sonora. Kootenay granted stock options to officers, directors, employees, and consultants (Columba project, Chihuahua). Defiance Silver confirmed ownership of the Tepal project in Michoacan.  ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUE

  • No relevant news.

ON EXPLORATION

  • Tocvan Ventures Corp., reported surface exploration results from areas located over 6km north of Pilar´s Main Zone within its Pilar project in Sonora. Sampling returned very high-grade silver with gold values.. Two samples yielded 1,225 g/t Ag with 3.2 g/t Au and 744 g/t Ag with 0.2 g/t Au from sample material next to historical artisanal workings. One of the samples also show higher polymetallic association returning 0.42% Cu, 3.4% Zn, and over 20% Pb (assay over limit was reached).
  • Aztec Minerals Corp., reported final results from the 2023 RC drilling from its Cervantes project.  The RC drilling program consisted of 1,646m in 13 holes testing the California porphyry gold target. All drill holes intersected oxidized Au mineralization; the California target continues to be open; the California target now has an area of 1,000m by 300m drill demonstrated; and the California target was found to continue on strike to the east at least another 400m. The multi-element ICP results show good, positive relationships between Au, Cu, Bi, Ag, As, W and K (potassic alteration), negative relationships with Mo, Sb and Ca.  The multi-element grades support the potential for an Au-Cu porphyry deposit at depth.
  • Radius Gold Inc., secured funding to commence drilling at the Plata Verde project in Chihuahua, Mexico, through an option agreement with Minera San Julian and Geometales del Norte-Geonorte. The initial investment for mobilizing drilling and field teams is USD $250K, with additional funding to follow as approved by technical committee. The project has shown significant silver mineralization and historical production potential. Minera San Julian aims to spend a minimum of USD $4,762,000 over four years on exploration activities at Plata Verde and has the right to earn a 70% interest in the project.
  • Centenario Gold Corp., announced results from the first drill program on its Eden project in Durango. The company completed 1,506m in 11 core holes “testing the strike and downdip extensions of the mineralized structure along a section of the ‘Buenavista’ corridor”. All holes intersected the ‘Buenavista’ vein-breccia structure at depths ranging between 50 to 110 m. Assay results have been received on 9 of the 11 holes. Assays are pending for holes ED24-09 and ED24-11 and will be released when received.

ON MINING

  • SilverCrest Metals Inc., announced that it will file its audited annual financial statement and management discussion and analysis for the fiscal year ended December 31, 2023 on March 11th, 2024 (Las Chispas mine, Sonora).
  • Argonaut Gold Inc., reported Q3 and year-end 2023 production and financial results from their Mexican operations (all dollar amounts are expressed in USD). In Q3, 2023, the company sold at La Colorada, Sonora, 7,967 Oz Au; reported cost of sales for $13,998,000; a cost of sales per Oz Au sold of $1,757; production costs of $10,353,000; a cash cost of $10,066,000; a cash cost per Oz Au sold of $1,263; and all in sustaining cost (AISC) of $1,316. For the year-end, it sold 25,957 Oz Au; reported cost of sales for $48,556,000; a cost of sales per Oz Au sold of $1,871; production costs of $39,057,000; a cash cost of $38,065,000; a cash cost per Oz Au sold of $1,466; and AISC of $1,532. At San Agustin, Durango, the company sold in Q3, 2023 9,556 Oz Au; reported cost of sales for $17,624,000; a cost of sales per Oz Au sold of $1,844; production costs of $16,000,000; a cash cost of $15,249,000; a cash cost per Oz Au sold of $1,596; and AISC of $1,631. For the year-end, it sold 44,148 Oz Au; reported cost of sales for $81,324,000; a cost of sales per Oz Au sold of $1,842; production costs of $71,263,000; a cash cost of $66,867,000; a cash cost per Oz Au sold of $1,515; and AISC of $1,552. At El Castillo, Durango, the company sold in Q3, 2023 4,353 Oz Au; reported cost of sales for $6,362,000; a cost of sales per Oz Au sold of $1,462; production costs of $6,009,000; a cash cost of $5,972,000; a cash cost per Oz Au sold of $1,372; and AISC of $1,402. For the year-end, it sold 21,325 Oz Au; reported cost of sales for $36,005,000; a cost of sales per Oz Au sold of $1,688; production costs of $32,252,000; a cash cost of $31,837,000; a cash cost per Oz Au sold of $1,493; and AISC of $1,518.
  • Fortuna Silver Mines Inc., released Q3 and end-year production results from its San Jose mine in Oaxaca. In Q3, 2023, the company milled 241,035 tonnes of 145 g/t Ag and 0.91 g/t Au with metallurgical recoveries of 91% and 90% respectively, to produce 1,023,325 Oz Ag and 6,345 Oz Au of which sold 1,040,888 Oz Ag and 6,046 Oz Au at an average realized price of USD $23.35 per Oz Ag and USD $1,983 per Oz Au. Fortuna reported a production cash and AISC of USD $17.57 and USD $21.98 per Oz AgEq respectively. In the full year 2023, the company milled 930,200 tonnes of 171 g/t Ag and 1.06 g/t Au with metallurgical recoveries of 91% and 90% respectively, to produce 4,656,631 Oz Ag and 28,559 Oz Au of which sold 4,659,611 Oz Ag and 28,524 Oz Au at an average realized price of USD $23.36 per Oz Ag and USD $1,942 per Oz Au. Fortuna reported a production cash and AISC of USD $14.40 and USD $19.40 per Oz AgEq respectively.
  • Luca Mining Corp. reported production results from its Tahuehueto, Durango and provided an update on its Campo Morado, Guerrero mine operation. At Tahuehueto, Durango, the mine achieved a new daily production record of 655 tonnes last week. The mine plan calls for the ramp-up to an approximate 1,000 tonne per day operation during 2H 2024 which is rapidly being achieved. At Campo Morado, Guerrero, “the optimization program has to date developed fundamental improvements in productivity, operational efficiency and cashflow. Key features of the program include effective mine-to-mill planning, new procedures for ore blending, increased metallurgical test work, optimized grinding and reagent dosing for improved recoveries, and phased equipment upgrades for mine and mill”.
  • MAG Silver Corp., reported a preliminary 2024 Juanicipio, Zacatecas guidance. MAG Silver reported preliminary guidance for the production potential of the high-grade Juanicipio Mine jointly owned by Fresnillo and MAG. The silver head grade is expected to range between 380 g/t and 420 g/t for 2024, with the plant anticipated to operate at nameplate capacity per operating day with an effective utilization of 91%. MAG remains on schedule to publish its updated technical report by the end of Q1 2024, providing more definitive guidance and solidifying the outlook for the Juanicipio Mine.

ON FINANCING

  • Capitan Silver Corp., announced that it intends to rise CAD $1.5M by way of a non-brokered private placement of 10M common shares at a price of CAD $0.15 per share. Gross proceeds will be used to advance Cruz de Plata project in Durango, to evaluate potential acquisitions, as well as to fund working capital and general corporate expenses.
  • Infinitum Copper Corp., announced a private placement (amended later on) for gross proceeds of up to CAD $450K through the issue of up to 22.5M units of the company at a price of CAD $0.02 per unit. Each unit will be comprised of one common share of the company and one common share purchase warrant. Net proceeds will be used for the establishment of mining operations at La Adelita project in Sonora, and for general corporate purposes. 
  • Reyna Silver Corp., increased the size of its non-brokered private placement from $2.5M to $2.9M, and announced the second closing of the listed issuer financing exemption (LIFE) offering of 8,240,666 units for gross proceeds of approximately $988,880, and the first closing of the concurrent private placement of 12,401,610 units for gross proceeds of approximately 1,488,193. The company plans to use part of the net proceeds for the exploration of Guigui and Batopilas projects, Chihuahua. 

ON RESOURCES AND DEVELOPMENT

  • Tocvan Ventures Corp., reported that a RC drilling is to commence at its Pilar project in Sonora for resource definition and expansion, as well as evaluation of new discoveries and targets. “The initial focus will be on infill and step-out targeting within and adjacent to the Pilar Main Zone including where previous drill campaigns successfully discovered the southern extension of the Main Zone, returning 108.6 meters of 0.8 g/t Au, including 9.4 meters of 7.6 g/t Au and 5 g/t Ag”.
  • Kootenay Silver Inc., filed a NI 43-101 Technical Report titled “Mineral Resource Estimate Update for the La Cigarra Ag-Pb-Zn Project, Chihuahua State, Mexico” with an effective date of November 29, 2023.
  • GR Silver Mining Ltd., provided an operational update and announced the start of a small bulk sampling and test mining at its Plomosas project in Sinaloa. GR Silver Mining has entered commercial agreements with private local operators to explore opportunities related to the Plomosas Project. The company has started the Bulk Sampling Test Mining (BSTM) program for future use in engineering and metallurgical reports at the San Juan and La Colorada sites, which has the potential to unveil valuable geological information related to high-grade modeling & targeting, grade reconciliation, and mineral deposit modeling to define new drill targets in the vicinities of the existing historical mines. The BSTM program will allow low-cost preparation of sites for future drilling, aiming to continue resource expansion in the project.

ON DEALS AND CORPORATE ISSUES

  • US Antimony Corporation announced executive management changes. Its previous CEO was appointed as President of the Company’s Antimony Division after relinquished his title as a CEO of US Antimony Corporation (Los Juarez project, Queretaro).
  • Golden Minerals Company announced that one member of its Board of Director has passed away (Velardeña property, Durango).
  • Sierra Metals Inc., announced the appointment of its Vice President, Health, & Safety, effective March 1, 2024 (Bolivar mine, Chihuahua).
  • Pan American Silver Corp., has announced a normal course issuer bid to purchase up to 5% of its issued and outstanding shares starting on March 6, 2024. The purchases will be made on the open market through various trading platforms. The company believes that its shares may not fully reflect its underlying value, making them an attractive investment. The bid will be funded from the company’s working capital, and purchases will be made at market prices. Pan American has established an automatic securities purchase plan to facilitate share repurchases. (La Colorada, Zacatecas-Durango).
  • Goldgroup Mining Inc., reported a contractor fatality at its Cerro Prieto mine in Sonora. Relevant regulatory authorities were notified and attended the site to investigate.
  • Kootenay Silver Inc., granted stock options to officers, directors, employees, and consultants to purchase up to an aggregate of 1,310,000 million shares and issued restricted share and deferred units totalling 905,000 common shares.  The stock options have been granted at a price of $0.90 per common share for a period of five years.
  • Defiance Silver Corp., confirmed ownership of the Tepal project in Michoacan. The Mexican Court restored the Company’s rightful ownership to the mining concessions forming part of the Tepal project. As a result, the judgement is now fully enforceable, and Geologix Explorations Mexico, S.V de C.A, a subsidiary of the Company, is now confirmed as the legitimate and rightful owner of the concessions.

ON SOCIAL RESPONSIBILITY

  • No relevant news.

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

On the picture above, a quartz-barite-specularite vein on a project of the Sonoran Desert. Photo taken by Miguel A Heredia.