Month: December 2011

ABOT Mining Acquires Gold and Silver Property in Mexico (ABOT)

ABOT Mining Co., a U.S.-based mining company engaged in the discovery, acquisition, development, production and marketing of precious and semi-precious metal properties, on Friday announced that it formulated an agreement with Rising Star S.A. de C.V., a Mexico-based company, under which it will acquire a 50% equity interest in Rising Star’s Mexican mineral property, the Aztlan 8B Project.

Guerrero Announces Final Closing of Financing

VANCOUVER, BRITISH COLUMBIA, Dec 16, 2011 (MARKETWIRE via COMTEX) — Guerrero Exploration Inc. (“Guerrero” or the “Corporation”) (tsx venture:GEX) announces that it has completed the last closing of its previously announced private placement financing. The Corporation issued 1,669,166 units ($250,375) for a total raise of 6,456,997 ($968,550) units at $0.15 per unit, with each unit consisting of one common share and one common share purchase warrant. Each warrant is exercisable for 12 months from closing at an exercise price of $0.30 per common share, subject to acceleration in the event the Corporation disseminates a press release advising that its shares have traded on the TSX Venture Exchange at a price per share greater than $0.60 for 10 consecutive trading days (including days where no shares are actually traded), in which case the warrants shall expire, without further notice, on the 31st day following the issuance of the press release. Notwithstanding the foregoing, in no event shall the Corporation be entitled to issue such a press release within four months of the date of closing. The Corporation plans to use the proceeds from this financing for general working capital and exploration. Guerrero paid finders’ fees in respect to this closing of $18,250 and issued 120,867 finders’ warrants, each of which will entitle the holder to subscribe for one additional unit at the issue price for a period of one year from closing.

Surface Land Agreement Completed and Subsequent Mine Permit Filed on Carmen Silver-Gold Project, Sonora Mexico

Silver Scott Mines, Inc. is pleased to announce the completion of a 6 year extendable surface land agreement for exploration within the 1500 hectare mineral concessions and mining or high impact disturbance on 20 hectares. The agreement was the completion of proposed mining with the Divisaderos Ejido. The ejido vote was unanimous in favor of the proposal. The prior low impact surface agreement continues in effect. This completed agreement allows the company to move forward with a planned production scale bulk tonnage leach test.

Bacanora Completes Second Round of Drilling on Ventana Lithium Deposit, the Reconnaissance of El Sauz Lithium Prospect and Provides Operational Update on the Borate Programme

Bacanora Minerals Ltd. is pleased to announce it has successfully met its objective of proving the lateral continuity of the hectorite-polylithionite clay mineralization on the Ventana Lithium deposit. Bacanora intends to generate a National Instrument 43-101 compliant Lithium Carbonate Equivalent with an initial resource estimate on Ventana in Q1 2012. This round of drilling follows up on the impressive results from the first drill program which included drillhole LV-04 which returned a thick section of 54.25 metres averaging 2,713 ppm Li (1.45% Li2CO3) over the entire sample width. (see Bacanora’s news release dated Jan 21, 2011).

Goldgroup Announces Additional Diamond Drill Holes at Caballo Blanco Project Yielding Significant Gold Intercepts

Goldgroup Mining Inc. is pleased to announce that additional diamond drill holes at its Caballo Blanco gold project in Veracruz, Mexico have yielded significant gold intercepts, expanding the La Paila oxide gold zone to the west and southwest. All ten drill holes reported below (see Tables 1 and 2 and the drill hole location map) are part of the ongoing drill program to define and to expand the southwestern flank of the La Paila gold zone as the zone currently remains open in this direction.

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