San Luis Potosi

Alset Minerals Acquires New Salars for Lithium and Potassium Exploration

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https://www.benzinga.com/content/9765265/alset-minerals-acquires-new-salars-for-lithium-and-potassium-exploration

Vancouver, British Columbia–(Newsfile Corp. – July 11, 2017) – Alset Minerals Corp. (TSXV: ION) (“Alset” or “the Company”) is pleased to announce it has acquired 5 additional salars bringing the total to 12 salars in Mexico. Alset now has a major land position in a new province of highly prospective salars that were identified in the 1980s by the Servicio Geologico Mexicana (SGM) when they declared the region including the states of Zacatecas and San Luis Potosi, Mexico as having the highest priority for lithium.

Both lithium and potassium, have been found in Alset’s original salars, as well as other minerals such as boron that are important for fertilizers. Much like other salars throughout the world, lithium and potassium and other minerals are found to co-exist in both the brines and in the soils. This is somewhat unique in the mining sector as these mineral occurrences essentially outcrop across the entire salar.

US. ANTIMONY REPORTS LOS JUAREZ PRODUCTION PLANS

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http://www.usantimony.com/2017_newsroom.htm#U._S._ANTIMONY_REPORTS_LOS_JUAREZ_PRODUCTION_PLANS

July 3, 2017. Thompson Falls, Montana. United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported that following the milling of 400 metric tons of Los Juarez gold/silver/antimony at the Puerto Blanco mill in Guanajuato, Mexico that it will proceed with the cyanide circuit to increase the recoveries of both the silver and gold from the flotation mill tailings. Initial results of the floatation assays without the cyanide circuit are as follows:

Item Gold Silver Antimony
Heads 0.035 opmt 3.27 opmt 0.652%
Tails 0.016 opmt 1.618 opmt 0.348%
Recovered grade 0.019 opmt 1.65 opmt 0.17%
% recovery 52.8% 49.6% 31.5

(opmt = ounces per metric ton)

The flotation concentrate contained 2.52 opmt gold, 496.4 opmt silver, and 52.0% antimony. The floatation concentrates will be processed by the caustic leach circuit which is operational.

Cyanide testing of the mill tailings has indicated excellent recoveries, and the antimony recovery has been on the order of 70% at lower depths. The estimated recovery of the values after the caustic leach and cyanide circuit of the tailings is as follows:

Metal Assay Recovery Value Value /mt
Gold 0.035 opmt 90% $1,250/oz $39.38
Silver 3.27 opmt 90% $16.50/oz $48.56
Antimony 0.652% 70% $3.90/lb $39.12
Total $127.06

Construction of the cyanide leach circuit for the Puerto Blanco mill tailings will begin when the permit is approved by SEMARNAT (Mexican equivalent of the EPA). Tentatively, the plan is to leach in Mexico and handle the second part of the process in Montana which is expected to cut Capex costs significantly, reduce operating costs, and expedite the start of the circuit.

Following are the sales estimates for Q2 2017 compared to Q2 2016:

Product Q2 2017 Q2 2016 % change
Antimony pounds 505,760 732,802 -31.0
Zeolite tons 3,352 4,218 -20.5
Silver ounces 17,552.32 29,219.25 -39.9
Gold ounces 61.1552 76.09 -19.62

Highlights on the Fifth Week of June, 2017. Mineral Exploration in Mexico

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During the 26th week of the year (June 26th to July 2nd, 2017), at least 25 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sinaloa, Santana Minerals reported drilling results from Cuitaboca; In San Luis Potosi Zenith Minerals started drilling for lithium; in Veracruz Almadex released more drilling results from a new zone at El Cobre; In Zacatecas, Galore terminated an unsuccessful drill program on the San Jose claim.  ON MINING,  Mexus Gold continues with the start-up of the Santa Elena mine in Sonora,  Arian Silver presented financial results for 2016. Santacruz reached a high-grade zone on the Membrillo vein in San Luis Potosi. ON FINANCING, Alio Gold raised CDN$50 M; Minera Alamos closed a private placement for $5.4 M; Minaurum received $3.5 M from warrants; Wealth Minerals obtained $3.3 M on the first tranche of a non-brokered private placement; Santacruz is to run a non-brokered private placement for $5 M; Monarca  Minerals settled a $463 K debt by issuing shares; Hecla announced a cash tender offer for its 6.875% senior notes, due 2025. ON RESOURCES AND DEVELOPMENT, Goldgroup informed the Switchback vein system in Oaxaca continues to grow; Oceanus released the full assays on a high-grade intercept at El Tigre, Sonora. ON DEALS AND CORPORATE ISSUES, Teck agreed to purchase the 21% interest held by Goldcorp on San Nicolás, Zacatecas; On the San Jose concession in Zacatecas, an unsuccessful drill program ended with the termination of Galore’s VP of Exploration. Santacruz is to sell its Gavilanes project in Durango.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Zenith Minerals Ltd. commenced a near surface, 11 auger holes, drill program on a salt pan 4 km long by 2 km in width in San Juan del Salado, San Luis Potosi . The drilling is to test for near surface lithium brines to a maximum depth of 25 meters. Both sediments and brines are to be sampled.
  • Almadex Minerals Ltd. received assays for the top 300 m of its first hole in the El Encianl zone of the El Cobre project in Veracruz. A 296.7 m intercept @ 0.32 g/t Au, 0.13% Cu includes 51.73 m @ 0.42 g/t Au, 0.17% Cu; and 100.47 m @ 0.44 g/t Au, 0.15% Cu. Almadex interpretation is that this hole intercepted significant mineralization that is proximal to a porphyry core.
  • Galore Resources Inc. announced that a troublesome drilling program at its San Jose claim in Zacatecas was terminated (see below) after it was forced to abandon its first hole. The company has decided to focus the exploration on the adjoining El Alamo claim, which differs significantly in mineralization style.
  • Santana Minerals Ltd. reported assay results for the first RC (reverse circulation) drill holes testing the southern extension of the Mojardina prospect at its Cuitaboca project in Sinaloa. Shallow drill intercepts include 53 m @ 47 g/t Ag; 15 m @ 100 g/t Ag; 7 m @ 53 g/t Ag, all of these less than 3 m from the surface.

ON MINING

  • Mexus Gold US. continues in the start-up period of cyanide leaching at its Santa Elena mine in Sonora, near Caborca (not to mistake with First Majestic’s Santa Elena mine, also in Sonora).
  • Arian Silver Corp. presented its financial results for 2016. During this period the company divested of the Calicanto silver project in Zacatecas, and focused in lithium properties in the Altiplano. At the end of the year the company had US$1.3 M in total assets, of which US$0.4 M was cash, with total liabilities for US$0.1 M. Twelve concessions were still held on four projects: San Celso, Los Campos, La Africana and Calicanto, and three other properties near San Celso.
  • Santacruz Silver Mining Ltd. intersected the high-grade zone of the Membrillo vein at the Membrillo prospect in San Luis Potosi. Eight muck samples from the production drift assayed 0.10-0.59 g/t Au, 8-121 g/t Ag, 0.12-0.40% Pb, 0.62-7.07% Zn over 0.40 – 0.90 m of true thickness of the vein. “Management anticipates delivering 250 tpd of material from the Membrillo Prospect to the Rosario mill for processing during the third quarter of 2017.”

ON FINANCING

  • Monarca Minerals Inc. settled an aggregate of $463 K in debt with certain of its creditors. Concept Capital Management Inc. now owns 6.5% and 13.9% of the issued and outstanding common shares (Tejamen, Durango).
  • Santacruz Silver Mining Ltd. announced a non-brokered private placement aiming to collect gross proceeds of up to $1.5M (Veta Grande , Zacatecas).
  • Alio Gold Inc. entered into an agreement with a syndicate of underwriters who accepted to purchase units of Alio Gold for gross proceeds of CDN$50M. The net proceeds of the offering will be used to advance its Ana Paula project in Guerrero.
  • Hecla Mining Co. announced a cash tender offer for its outstanding 6.875% senior notes due 2021, of which there is $605 M aggregate principal amount outstanding (San Sebastian, Durango).
  • Minera Alamos Inc. closed the previously announced private placement for gross proceeds of $5.4 M (La Fortuna, Durango).
  • Minaurum Gold Inc. received proceeds of $3.5 M from the exercise of warrants issued on 2015 (Alamos project, Sonora).
  • Wealth Minerals Ltd. closed a portion of the non-brokered private placement previously announced , for gross proceeds of $3.33 M (Coronado, Chihuahua).

ON RESOURCES AND DEVELOPMENT

  • Gold Resource Corp. informed the continued expansion of the Arista Mine’s Swichtback vein system in Oaxaca. The new drill intercepts extend the known mineralization to 625 m along strike, still open in all directions. Drill hole intercepts include 5.25 m @ 1.2 g/t Au, 40 g/t Ag, 0.6% Cu, 1.4% Pb, 7.4% Zn; 5.08 m @ 3.2 g/t Au, 261 g/t Ag, 1.3% Cu, 4.3% Pb, 11.8% Zn; 6.64 m @ 1.49 g/t Au, 220 g/t Ag, 0.7% Cu, nil Pb, 13.2% Zn.
  • Oceanus Resource Corp. released final assays for hole ET-17-144 on the Protectora vein of El Tigre property in Sonora. In a previous release the 0.85 m drill intercept (0.80 m true width, or TW) returned 37.2 g/t Au, 7,339 g/t Ag, and the new release adds assays of 2.84% Cu, 1.38% Pb, 4.06% Zn to the same interval. The nearby Palomitas tunnels have historical reports of 1.1 m @ 3.77 g/t Au, 1,714 g/t Ag (50 Oz/ton).

ON DEALS AND CORPORATE ISSUES

  • Teck Resources Ltd. entered into a binding agreement with Goldcorp Inc. to purchase its 21% minority interest in the San Nicolás project, for cash consideration of $50 M. On completion of the transaction Teck will own 100% of the San Nicolás project in Zacatecas.
  • Galore Resources Inc. decided to terminate drilling at the San Jose claim in Zacatecas, after the driller run a program plagued by mechanical issues. The decision to cease drilling resulted in the termination of the VP of Exploration.
  • Santacruz Silver Mining Ltd. signed a letter of intent to sell its Gavilanes project in Durango to an arm’s length third party.

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, at least two stages of epithermal quartz veining in fine grained sandstone near Aldama, Chihuahua. Photo by Jorge Cirett.

092

Highlights on the Fourth Week of June, 2017. Mineral Exploration in Mexico

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During the 25th week of the year (June 19th to June 25th, 2017), at least 25 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora Riverside completed drilling at Glor; SilverCrest released high-grade results from drilling at Las Chispas project and Goldex reported surface assays on its Mingeo property. In Veracruz Almadex released drilling results from its El Cobre project, and Mexican Gold announced an incoming drilling program at Las Minas. In Chihuahua VVC Exploration has obtained surface agreements for its Samalayuca project and Radius Gold is to explore its Amalia project (see below). In Durango Prospero has started drilling at the Matorral target within its Santa Maria project.  ON MINING, Endeavour Silver released the Sustainability and Growth report for 2016. ON FINANCING, First Mining Finance graduated to the TSX; Geologix completed a financing round for $1.2 M and Silver Bull received commitments for CDN$1.3 M. ON RESOURCES AND DEVELOPMENT, Torex released high-grade results from the sub-sill orebody at its Los Guajes mine in Guerrero; Great Panther reported surface drilling assays from its San Ignacio mine in Guanajuato; Santacruz Silver encountered a new vein while drifting at the optioned Membrillo property in San Luis Potosi; Premier Gold presented exploration highlights and high-grade results from its Mercedes mine in Sonora. ON DEALS AND CORPORATE ISSUES, Goldcorp and Orla Mining agreed on the sale-purchase of the Camino Rojo project in Zacatecas; Santacruz optioned from Mexican private companies the Veta Grande and Milpillas properties in Zacatecas; Mx Gold paid the remainder of the purchase price of a gold smelter in Durango from American Metal Mining; Radius Gold optioned the Amalia property from a private owner in Chihuahua.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Riverside Resources Inc. completed a nine-hole, 1,942 m, diamond core drill program at the Pitaya target area (4 km2) within the Glor project (36 km2) in Sonora, which is being explored with funding by partner Centerra Gold Inc. Results include 11.0 m @ 0.59 g/t Au and 2.0 m @ 0.46 g/t Au. The results are low compared with the trenching at the surface that showed disseminated gold values in the 0.5-1 g/t Au. Four remaining target areas are to be explored to define drilling targets.
  • Mexican Gold Corp. is to realize a 3,000 metre diamond drilling campaign at its Las Minas project in Veracruz. The drilling program targets expansion at the Cinco Senores zone as well as step-out drilling at the El Dorado / Juan Bran. “Additionally, a field exploration program, consisting of trenching, sampling and mapping will be carried out at the Santa Cruz zone to test the upward continuation of the zone above the area of previous drilling. Trenching, sampling and mapping will also be undertaken at the Pueblo Nuevo concession to further outline the quartz veins recently sampled at the site”.
  • Almadex Minerals Ltd. released results from two more holes at its El Cobre property in Veracruz, in the Norte Zone. Results include 153.5 m @ 0.68 g/t Au, 0.27% Cu (including 84 m @ 0.96 g/t Au, 0.37% Cu); 167 m @ 0.27 g/t Au, 0.12% Cu; 255.64 m @ 0.26 g/t Au, 0.17% Cu. At El Encinal Zone a new area of outcropping stockwork quartz veining was identified. El Encinal Zone is 3.5 km south-southeast of the Norte Zone and 2.5 km southeast of the Raya Tembrillo Zone stockwork veining.
  • VVC Exploration Corp. completed agreements with the land owners on its Samalayuca copper project in Chihuahua. The agreements provide access to all the area of the project, now that the company is focused on a pilot miming startup.
  • SilverCrest Metals Inc. released high-grade intercepts from the Babicanora vein at its Las Chispas project in Sonora. Highlighted estimated true width (TW) intercepts include 6.6 m @ 1.03 g/t Au, 328 g/t Ag; 2.0 m @ 3.78 g/t Au, 68 g/t Ag; 1.2 m @ 3.53 g/t Au, 303 g/t Ag; 7.6 m @ 4.08 g/t Au, 196 g/t Ag (including 2.2 m @ 10.8 g/t Au, 181 g/t Ag). To date, past and present significant intercepts are averaging 4.5 m (TW) grading 521 g/t AgEq. Since acquiring the property 14,205 m of drilling have been performed, with 37 holes in the Las Chispas, William Tell, Giovanni, Espiritu Santo and Varela veins, and 25 holes in the Babicanora area, including the Babicanora and Babicanora footwall veins. Before the end of July 2017, 3,500 meters more of drilling are planned in the phase II in the Babicanora area, and commence underground drilling at Las Chispas main vein.
  • Radius Gold Inc. has entered in an option to acquire (see below) the Amalia project in Chihuahua. Epithermal mineralization has been sampled by Radius in several veins, vein breccias and disseminated zones over 3.5 km strike length and a 600 m vertical interval on a large regional fault zone. At the Campamento zone “a 70-meter-wide zone of intense silicification, and brecciation with massive and stockwork veining has been mapped at the contact between the upper Rhyolite and lower Andesite volcanic sequence.” Rock chip sampling has returned up to 33.3 g/t Au and 288 g/t Ag, with 22 samples averaging 0.75 g/t Au and 65 g/t Ag. The silica is chalcedonic, banded and amorphous, indicating a high level within the epithermal system. The Guadalupe zone is 700 m to the SE and 200 m below, with two samples grading 20.3 g/t Au, 5,360 g/t Ag and 3.05 g/t Au, 476 g/t Ag over 1.2 and 1.3 m respectively.
  • Goldex Resources Corp. reported assay results from initial sampling at its Mingeo property in Sonora. Gold mineralization is in low angle quartz “mantos” (low angle veins) 0.1 – 3.0 m in width. The veins present drag folds, evidence of shearing and are believed to be of orogenic origin. The low angle quartz veins are observed for some 600 m on the property, with the current sampling covering 350 m in the manto1 area. Several other low angle quartz veins occur in the property. All 39 samples from the manto 1 returned assays greater than 0.4 g/t Au, and one sample on the footwall assayed 1.13 g/t Au. Best results include 1.10 m @ 6.86 g/t Au; 0.75 m @ 7.1 g/t Au; 0.62 m @ 10.05 g/t Au; 0.30 m @16.7 g/t Au; 0.7 m @ 7.36 g/t Au; 0.93 m @ 22.2 g/t Au; 0.8 m @ 12.25 g/t Au, 1.80 m @ 8.15 g/t Au; 1.05 m @ 18.9 g/t Au; 1.03 m @ 4.46 g/t Au.
  • Prospero Silver Corp. has started drilling at the Matorral project in Durango, as part of the testing of three properties under its agreement with Fortuna Silver Mines Inc.. Four holes are planned at Matorral, which has 7 km of prospective structures at Matorral, which is one of two targets on the 9,066 hectares Santa Maria del Oro claims. Sampling on the surface has returned up to 460 g/t Ag.

ON MINING

  • Endeavour Silver Corp. released the Sustainability and Growth report for 2016, which informs on a 6.6% decrease in injured frequency rate; the distribution of $140 M in economic value in Mexico (including $40 M in wages and $17 M in taxes); investing more than 68 K hours for 1,600 employees in training; investing $1.5 M in environmental initiatives, reducing energy consumption by 5% and the planting of 34,500 trees; and the reception of the Social Responsible Company award from CEMEFI and the Alliance for Social Philanthropy for all three mines.

ON FINANCING

  • First Mining Finance Corp. received approval from the Toronto Stock Exchange to graduate from the TSV Venture Exchange (TSXV) and list its common shares on the TSX. (Projects in Sonora, Durango, Oaxaca).
  • Geologix Explorations Inc. has completed its non-brokered private placement with an over-subscription of 20% for gross proceeds of $1.21 M. the net proceeds will be used for exploration and development expenditures at its Tepal gold/copper project in Michoacan.
  • Silver Bull Resources Inc. is to issue a private placement for which currently has received commitments for gross proceeds of CDN$1.33 M (Sierra Mojada, Coahuila).

ON RESOURCES AND DEVELOPMENT

  • Torex Gold Resources Inc. released high-grade assays from 25 in-fill drill holes of the Sub-Sill deposit at its Limon-Guajes mine in Guerrero. Results (unknown true width) include 2.3 m @ 11.8 g/t Au, 17 g/t Ag, 0.5% Cu; 4.2 m @ 8.2 g/t Au; 14.8 m @ 27.3 g/t Au, 19 g/t Ag, 0.9% Cu; 9.7 m @ 39.1 g/t Au (including 2.9 m @ 114.4 g/t Au); 6.2 m @ 16.1 g/t Au; 3.1 m @ 107.3 g/t Au, 53 g/t Ag, 2.1% Cu; 8.4 m @ 13.3 g/t Au, 49 g/t Ag, 3.6% Cu; 11.9 m @ 9.2 g/t Au, 77 g/t Ag, 3.1% Cu; 13.0 m @ 32.1 g/t Au, 26 g/t Ag, 0.4% Cu; 11.4 m @ 23.2 g/t Au, 0.2% Cu. “The Sub-Sill area is located between the El Limon and El Limon Sur ore deposits and under the El Limon Sill. The El Limon Sill area occurs in the Mesozoic carbonate-rich Morelos Platform, which has been intruded by Paleocene granodiorite stocks, sills and dikes. Skarn-hosted gold mineralization is developed along the contacts of the intrusive rocks and the enclosing carbonate-rich sedimentary rocks. Structurally, the El Limon Sill target area as well as El Limon and El Limon Sur ore deposits are hosted in a graben bounded by La Flaca fault to the west and the Antena fault to the east, and both are considered to be potential feeders for the mineralization. At the El Limon Sill area, several skarn zones have been identified along the contacts of the carbonate rich sediments and marbles of the Cuautla and Morelos formations and sills fingering out from the main granodiorite stock. High grade gold mineralization have been intercepted in all the different skarn horizons. Within the skarn zones individual ore shoots vary in strike length from approximately 50 meters up to 200 meters, with apparent widths varying from 2 meters to 27 meters.” The Sub-Sill in-fill diamond drilling program comprises a total of 50 holes (7455m), with the 17.5m x 17.5m drill pattern aiming to upgrade 1 M tonnes over an area of 250m x 150m, to the Indicated category, which will support the development of a mine plan. “…the Sub-Sill access ramp has entered into the high grade mineralization at its Sub-Sill underground deposit……. The first 260 tonnes of ore from the Sub-Sill were delivered to the processing plant yesterday. A random sample from each truck load of ore from this first ‘round’ into mineralized Sub-Sill skarn, returned an average grade of 98 g/t Au.”
  • Great Panther Silver Ltd. released assays from surface drilling at its San Ignacio mine in Guanajuato (part of its Guanajuato Mine Complex). The drilling targeted the intersection of the Melladito and Plateros veins, with intercepts including (true width, TW) 19.2 m @ 6.36 g/t Au, 261 g/t Ag; 2.99 m @ 2.18 g/t Au; 100 g/t Ag; 1.68 m @ 3.68 g/t Au, 160 g/t Ag; 0.78 m @ 9.95 g/t Au, 783 g/t Ag; 3.68 m @ 1.51 g/t Au, 194 g/t Ag; 0.91 m @ 5.87 g/t Au, 672 g/t Ag; 6.65 m @ 2.54 g/t Au, 18 g/t Ag; 2.9 m @ 4.04 g/t Au, 22 g/t Ag; 2.03 m @ 10.77 g/t Au, 278 g/t Ag; 3.67 m @ 5.6 g/t Au, 127 g/t Ag; 1.83 m @ 11.05 g/t Au, 160 g/t Ag. The program comprised 32 holes for 7,464 meters with a vertical and horizontal spacing of approximately 50 meters.
  • Santacruz Silver Mining Ltd. reported that drifting work at the rented Membrillo prospect in San Luis Potosi encountered a previously unknown vein now named San Rafael, that is infilled with carbonate and sulfide minerals. To date a drift on the E-W vein (NW-SE is the prevailing strike on the district) over 68 meters has shown the true width to be between 0.5 and 1.6 meters. Chip sampling on the vein returned values of trace-1.4 g/t Au, trace-770 g/t Ag, 0.03-15.9% Pb, 0.28-20.1% Zn.
  • Premier Gold Ltd. presented exploration highlights on its Mercedes mine in Sonora. “Underground drilling along strike from the Corona de Oro mine workings has discovered additional high-grade mineralization…” while “Step-out drilling has expanded the Diluvio deposit” and “Underground development (drifting) is underway to access the Marianas Zone….”. High grade intercepts of the ongoing 50,000 metre program (ten surface and underground rigs) include 1.5 m @ 10.85 g/t Au, 29 g/t Ag; 3.0 m @ 7.78 g/t Au, 33 g/t Ag; 2.4 m @ 15.52 g/t Au, 24 g/t Ag; 3.1 m @ 10.92 g/t Au, 85 g/t Ag; 30.6 m @ 5.17 g/t Au, 13 g/t Ag; 7.7 m @ 4.56 g/t Au, 43 g/t Ag; 2.1 m @ 9.74 g/t Au, 45 g/t Ag; 1.5 m @ 24.4 g/t Au, 138 g/t Ag; 1.5 m 39 g/t Au, 121 g/t Ag; 3.0 m @ 11.2 g/t Au, 99 g/t Ag; 1.5 m @ 18.25 g/t Au, 126 g/t Ag; 4.7 m @ 13.94 g/t Au, 636 g/t Ag.

ON DEALS AND CORPORATE ISSUES

  • Goldcorp Inc. entered into an agreement with Orla Mining Ltd. to sell its 100% interest in the Camino Rojo oxide project. Goldcorp “will receive: (1) 19.9% of the issued and outstanding common shares of Orla, (2) a 2% Net Smelter Return royalty on revenues from all metal production from the project, with the exception of metals produced under a joint venture with Orla, (3) an option to acquire up to a 70% interest in future sulphide projects, and (4) the right to nominate a director to Orla’s Board for as long as Goldcorp’s equity ownership position is greater than 10%.”
  • Santacruz Silver Mining Ltd. has signed an agreement with certain private Mexican companies which grant Santacruz an option to purchase a 100% interest in the Veta Grande and Milpillas properties in Zacatecas, for aggregate cash consideration of US$15.5 M. Currently Santacruz operates the properties on a 60%/40% net profits interest. The payment Schedule includes US$2.5 M on or before December 14, 2017, and US$2.5 M, US$3.0 M, US$4.0 M and US$3.5 M on yearly installments.
  • MX Gold Corp. has paid the remaining amounts due totaling US$450 K to American Metal Mining S.A. de C.V., thereby acquiring 50% of the shares in Inversiones Durango San Luis S.A. de C.V. that holds the IDS smelter project, a past producer gold smelter.
  • Radius Gold Inc. has signed a binding agreement with a private individual to option the 380 hectare Amalia project in Chihuahua. The deal involves a US$5 K payment and staged payments over 5 years totaling US$845 K and US$15 K in Radius shares.

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, epithermal quartz veining in fine grained sandstone near Aldama, Chihuahua. Photo by Jorge Cirett.

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Santacruz Silver Announces Agreement to Consolidate 100% Ownership of the Veta Grande and Minillas Mineral Properties

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http://www.santacruzsilver.com/s/news_releases.asp?ReportID=793384

Vancouver, B.C. — Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports that it has signed an agreement (the “Option Agreement”) with certain private Mexican companies (together “Contracuña”) pursuant to which Contracuña has granted Santacruz an option to purchase a 100% interest in the Veta Grande and Minillas properties, for aggregate cash consideration of US$15,500,000. The Company currently operates the properties on a 60%/40% net profits interest (“NPI”) basis pursuant to an exclusive thirty-year right granted by Contracuña (see news release dated November 2, 2015).

Santacruz Silver Discovers Mineralized Vein Cross Cutting Membrillo Structure

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Click to access Jun-19-2017-NR.pdf

Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports that further to the Company’s press release of May 29, 2017 wherein it announced that it had acquired an exclusive five year right to explore, develop and mine the Membrillo silver-zinc-lead-gold vein structure (the
“Membrillo Prospect”) located approximately four km from the Company’s Rosario Project mill facility located near Charcas, San Luis Potosi, Mexico, Santacruz provides the following update. Santacruz’s mining activities at the Membrillo Prospect have been focused on drifting to access the Membrillo vein that generally strikes NW-SE and dips approximately 45 to 60 degrees to the southwest. This underground development has intersected a previously unknown E-W striking vein structure that dips approximately 50 to 52 degrees to the Southwest and is infilled by quartz, carbonate and sulfide minerals. This previously unknown vein is now known as the San Rafael vein. To date the Company has completed approximately 68 meters of drifting on Level 1 along the San Rafael vein where the true width of the vein is approximately 0.50 to 1.6 meters wide.

CANDELARIA MINING ISSUES FINAL SHARE INSTALLMENT FOR ACQUISITION OF 60% OF MINERA APOLO S.A. DE C.V.

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http://www.candelariamining.com/index.php/news/2017/69-candelaria-mining-issues-final-share-installment-for-acquisition-of-60-of-minera-apolo-s-a-de-c-v

June 5, 2017, Vancouver, British Columbia – Candelaria Mining Corp. (“Candelaria” or the “Company”) announces that it has issued 4,666,667 shares to the shareholders of Minera Apolo S.A. de C.V. (“Minera Apolo”) and as a result has met all obligations required to complete the acquisition of 60% of the shares of Minera Apolo.  Candelaria holds a right of first refusal to purchase the remaining 40% of the shares of Minera Apolo, which are currently held by four individuals resident in Mexico.

Minera Apolo, incorporated in Mexico, holds several mining properties consisting of 65 claims over approximately 20,475 hectares in the states of Zacatecas, Durango and San Luis Potosi, Mexico.  The properties consist of the Pinos district, Lucifer, KM66, Guandalcazar, Cascabel, El Gato and the Tailing Noria.

New Gold Completes Redemption of 2020 Senior Notes and Extends Credit Facility

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Click to access June-2017-Redemption-of-Senior-Notes-vFinal.pdf

June 5, 2017 – New Gold Inc. (“New Gold”) (TSX:NGD) (NYSE MKT:NGD) today announces that it has completed the previously announced redemption of its outstanding $300 million 7.00% Senior Notes due 2020. The redemption was
funded from the net proceeds of its recent issue of $300 million aggregate principal amount of 6.375% Senior Notes due in 2025 and cash on hand.
“With the redemption of our 2020 Senior Notes, New Gold has further enhanced its financial flexibility,” stated Brian Penny, Executive Vice President and Chief Financial Officer. “Consistent with the multiple steps we have taken this year to strengthen our liquidity position and reinforce our balance sheet, we are pleased that through these transactions, we have been able to both extend the term of our debt and reduce our interest rate.”

Highlights on the First Week of June, 2017. Mineral Exploration in Mexico

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During the 22nd week of the year (May 28th to June 4th, 2017), at least 25 press releases were announced by companies working in Mexico. ON EXPLORATION, in Sonora Canuc signed an agreement with the San Javier ejido, Riverside regained control of the Thor copper project and San Marco Resources started drilling the Chunibas project. Prospero Silver is to drill test its Santa Maria project in Durango and the Petate and Pachuca Southeast projects in Hidalgo. Vangold is acquiring three properties in Guanajuato and Queretaro. Kootenay completed three holes at La Cigarra in Chihuahua. Mexican Gold is obtaining high grade gold results on the recently acquired properties in Las Minas, Veracruz.  ON MINING, Santacruz, Impact and Marlin reported Q1 2017 operating and financial results. Starcore presented Q4 2017. Great Panther commissioned the refurbished processing plant at Topia, in Durango. Mexus has a new crusher for its Santa Elena mine in Sonora. ON FINANCING, Osisko invested $3.3 M in Minera Alamos, Sonoro received the balance of the $4 M for the sale of La Chipriona in Sonora, and Torex signed a secured $400 M debt facility. ON RESOURCES AND DEVELOPMENT, Avino filed the PEA of its Avino property at SEDAR. Americas Silver is confirming and extending mineralization at its Cosala property in Sinaloa. Consolidated Zinc presented the over-limits results from drilling at Plomosas, Chihuahua. ON DEALS AND CORPORATE ISSUES, Vangold is acquiring seven claims in Guanajuato and Queretaro. Magellan made an extension payment on a MOU to acquire a flotation plant in Nayarit.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Canuc Resources Corp. announced the signing of a surface use agreement with the San Javier ejido at its San Javier project in Sonora. “The Agreement calls for exploration on 300 hectares of land and also provides binding terms for exploitation (mining) on an area of up to 1,000 hectares. The Agreement requires Canuc to pay $35,000 USD per year during exploration activities and up to $135,000 USD per year during the exploitation phase. The Agreement is binding and has a 25 year term with an additional 5 years provided under Agrarian Laws.”
  • Prospero Silver Corp. has appointed a drilling contractor for its 6,000 m program in late June, which is to cover three projects: Santa Maria del Oro, in Durango; Petate in Hidalgo; and Pachuca Southeast in Hidalgo.
  • Vangold Mining Corp. has entered into agreements to acquire seven mining claims that cover the Patitos, Analy and El Ruso prospects in Guanajuato and Queretaro. The sevcen claims totaling 2,798 hectares have high grade assay results on sampling by the vendors.
  • Kootenay Silver Inc. has completed the first three holes of a 7,500 m core drilling campaign at its La Cigarra property in Chihuahua. Drilling continues on the eastern part of Las Venadas zone, which currently is 400 x 200 m in size. Rock sample results have grade up to 482 g/t Ag in this area.
  • Mexican Gold Corp. reported rock sampling results on its recently acquired Pueblo Nuevo concession adjacent to its Las Minas project in Veracruz. The sampling was carried out on the Tamiagua 1 and 2 veins and on the Dos Rios vein. Results include 0.25 m @ 24.8 g/t Au, 0.22 m @ 23.4 g/t Au; 0.25 m @ 9.5 g/t Au; 0.2 m @ 13.5 g/t Au; 0.5 m @ 5.9 g/t Au; 0.4 m @ 4.9 g/t Au; 0.2 m @ 13.7 g/t Au; 0.2 m @ 13.6 g/t Au.
  • Riverside Resources Inc. has regained 100% interest on the Thor copper project in Sonora, as the company’s joint-venture partner Antofagasta PLC has elected not to continue with the required investment to advance the property. The first four diamond holes in the property confirmed the concept, with three intersecting quartz-sericite-pyrite stockworks.
  • San Marco Resources Inc. has started diamond drilling at its Chunibas project in Sonora, aiming to confirm high grade mineralization within shear veins and test the presence of broad haloes of lower grade Au-Ag within sericite-Fe carbonate altered wall rocks. The drill holes are to probe three targets over 1.5 Km of strike length.

ON MINING

  • Santacruz Silver Mining Inc. reported its Q1 operating and financial results for 2017. At Rosario in San Luis Potosi, 18,723 tonnes were processed @ 66 g/t Ag (226 g/t AgEq) with a silver recovery of 86%, to produce 34.5 K ounces Ag, 195 Oz Au, 45 tonnes Pb, 382 tonnes Zn. At Veta Grande in Zacatecas 26.7 K tonnes were processed @ 117 g/t Ag (209 g/t AgEq) with a silver recovery of 57% to produce 57.6 K Oz Ag, 131 Oz Au, 99 tonnes Pb, 177 tonnes Zn. Cash cost per AgEq Oz was $19.55 and AISC per AgEq Oz was $24.56. The Rosario mill in San Luis Potosi is to work during the next few months with ore from the Membrillo vein (optioned from Grupo Mexico), The Cinco Estrellas property and the Rosario mine. At Veta Grande, Zacatecas, the mill is to be fed by the Chorros, Veta Grande and the Garcia mines.
  • Starcore International Mines Ltd. presented production results for the fourth quarter 2017, period during which 65.8 K tonnes of ore were milled at its San Martin mine in Queretaro, during the first quarter 2017. The average grade was 1.82 g/t Au, 13.5 g/t Ag, with recoveries of 81.9% and 49.7% for gold and silver respectively, to produce 3,365 AuEq Oz.
  • Impact Silver Corp. released financial and production results for the first quarter 2017. The Guadalupe mill was fed ore from the San Ramon Deeps, Cuchara and Mirasol mines at its Zacualpan property in Estado de Mexico. The average mill feed was 177 g/t Ag, producing 230.3 K Oz Ag, while ore production stood at 542 tonnes per day (tpd). The cash position at the end of the quarter was $7.6 M.
  • Marlin Gold Ltd. announced financial results for the first quarter 2017. During the period the company had revenues of $32.6 M, producing 15,556 Oz Au and selling 20,401 Oz Au. Cash and finished gold amount to $5.8 M.
  • Great Panther Silver Ltd. completed the commissioning phase of the refurbished processing plant at its Topia mine, in Durango. The plant is now operating at planned capacity. The company continues to work with the government on the permitting of the phase II tailings storage facility. Run of mine ore is now being processed along with the stockpiled ore.
  • Mexus Gold US. Received a jaw crusher for its Santa Elena mine in Sonora (not to confuse with First Majestic’s Santa Elena mine, also in Sonora). The company intends increase its mining rate to 10,000 tonnes per day.

ON FINANCING

  • Minera Alamos Inc. announced Osisko Gold Royalties Ltd. has purchased on a private placement basis Minera Alamos shares for gross proceeds of $3.3 M. Osisko now owns 19.9 % of Minera Alamos shares. An additional private placement has been announced, same that is intended to raise up to $3.5 M in gross proceeds (La Fortuna, Durango).
  • Sonoro Metals Corp. has received the balance of the $4 M proceeds from Agnico Eagle Mines Ltd., for the sale of the Chipriona project in Sonora. Sonoro has now no further interest in the Chipriona concessions, save for the retention of a 1% NSR, same that can be purchased for $1.5 M.
  • Torex Gold Resources Corp. announced the signing of a binding commitment letter with various lenders in connection with a secured US$400 M debt facility. The Loan facility will be available by way of a US$300 M term loan and a US$310 M revolving loan facility (El Limon-Los Guajes, Guerrero)

ON RESOURCES AND DEVELOPMENT

  • Avino Silver & Gold Mines Ltd. has filed the technical report on the Avino property (in Durango) with SEDAR. The report covers the preliminary economic assessment for the re-treating of the Avino mine tailings, including the resource estimates up to the end of 2016.
  • Americas Silver Corp. reported that infill drilling at its Cosalá operations in Sinaloa confirmed the San Rafael Main Zone model, with mineralization extending for further 350 m. Drilling has started at Los Manueles zone.
  • Consolidated Zinc Ltd. confirmed the final assay results of the high grade Zn and Pb mineralization on the initial six holes on the Tres Amigos target at its Plomosas property in Chihuahua. The intervals with over-limits in Zn returned 1.5 m @ 26.3% Zn, 0.6% Pb, 52 g/t Ag; 1.85 m @ 32.6 % Zn, 0.3% Pb, 3 g/t Ag.

ON DEALS AND CORPORATE ISSUES

  • Vangold Mining Corp. has entered into agreements to acquire seven mining claims totaling 2,798 hectares in Guanajuato and Queretaro. A 100% interest on the claims is to be acquired for an aggregate C$10 K and 3,375,000 Vangold shares, with the vendors keeping a 2.5% net smelter return, of which half can be re-purchased for C$500 K.
  • Magellan Gold Corp. has made a further $100 K option payment for a 60 day extension on its memorandum of understanding (MOU) with Rose Petroleum PLC. The MOU gives Magellan the right to purchase an operating flotation plant in Nayarit for a total consideration of $1.5 M. The $100 extension payment will be credited against the purchase price if the transaction closes.

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

On the center of the picture below, a felsic dike protruding from the lower volcanic group andesites on the Cañada del Güerachi in Chihuahua. The ignimbrites of the upper volcanic group rest on top of the andesites. Photo by Jorge Cirett.

Guerachi

Santacruz Silver Reports First Quarter 2017 Production and Financial Results

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Click to access May-31-2017-Q1-ProductionFinancial-Results.pdf

Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports on the operating and financial results from the Rosario Project in San Luis Potosi, Mexico and the Veta Grande Project in Zacatecas, Mexico for the first quarter of 2017. The full version of the financial statements and accompanying  management’s discussion and analysis can be viewed on the Company’s website at
http://www.santacruzsilver.com or on SEDAR at http://www.sedar.com. All amounts are in thousands of US dollars unless otherwise indicated.
Q1 Highlights:
 Silver equivalent produced ounces of 223,968;
 Head grade of 216 Ag Eqv. g/t;
 28% quarter over quarter reduction in production cost per tonne to $52.87
 18% quarter over quarter reduction in cost per Ag Eq Oz to $19.55
“The fiscal results of the first quarter of 2017 and the fourth quarter of 2016 reflect a transition period for the Company as it added two new sources of mineralized material at the Rosario Project and expanded the development of mineralized material from previously mined stopes at Veta Grande referred to as “Chorros”” stated Arturo Préstamo, CEO of Santacruz adding, “As a result of mining the Chorros, the operating costs are substantially reduced and we look forward to continued production improvements at both Rosario and Veta Grande over the coming quarters.”