Day: April 13, 2012

Goldex Releases Assays from Phase One Drill Program at El Arco

Goldex Resources Corporation today announced results from the phase one drill program on its Mexican property, El Arco. El Arco represents a newly discovered gold-silver system that has seen no previous exploration activity. The property is located in the Central Plateau gold and silver belt, near the historic silver-lead-zinc district of Tejamen in the state of Durango, Mexico. El Arco demonstrates low sulphidation epithermal-style banded quartz veinlets similar to those found at the surface in the La Cienga district also located in Durango. The project consists of two mineral exploration licenses that cover 3,381 hectares. Surface samples have confirmed the presence of both high-grade gold and silver values.

CWRN: “Wide Area Deep Drilling Underway”

Cotton & Western Mining, Inc. In 2011, Panamerican Minerals Ventures, S.A. de C.V. Mexico, the operators of the “Guadalupe Iron Mineral Concession,” drilled three deep conformation holes 300 meters apart in the center line of the 1,500 meter long Coloso Iron Mineral Vein, (one of four major iron mineral veins located on the concession); the purpose of those drill-holes was to explore the depth of the Coloso Vein, since the original drill program of 68 holes was shallow at 20-meters depth. Drill-hole 69 at 44-meters revealed continuous iron minerals mixed Magnetite and Hematite down to an elevation point of 81-meters above sea level, where the drilling was suspended without punching through the iron minerals as the iron content became lower and the mineral became solid magnetite. Drill-hole 70 at 84-meters depth on the lower elevation of the concession revealed the same mineral structure as drill-hole 69, hitting iron mineral at 4-meters down and continuous to 84-meters where the drilling was suspended at 2-meters above sea level; the third Drill-hole number 71 at 54-meters depth revealed continuous magnetite as well, the drilling was suspended pending simulated concentration testing of the lower grade materials to better understand the percentage of Fe304 (Magnetite Iron Oxide) uplift that could be anticipated if the materials were processed through a series of beneficiations. Results from those analytical studies indicated that the iron minerals can be processed to a Grade-A iron mineral status. Management has been discussing the feasibility of building a concentration plant on site with the corporation of Bao Steel Group of China, provided that there is enough magnetite mineral reserve to justify the investment; therefore, the company has begun a series of new and deeper drilled-holes on a wide-area bases to establish parameters for an accurate calculation of available mineral reserves.

Canasil Resources Inc. : Reduction of Exercise Price of Warrants

Vancouver, April 12, 2012 – Canasil Resources Inc.(“Canasil”, TSX-V: CLZ, DB Frankfurt: 3CC) announces that the Company is applying to the TSX Venture Exchange to reduce to $0.21 the exercise price of 610,000 warrants issued in connection with a private placement which closed on May 6, 2011. The expiry date of the warrants has not been changed and remains at May 6, 2012. The amended warrant price is subject to acceptance by the TSX Venture Exchange (“the Exchange”).

Torex Gold Resources Reports First Quarter Results

TORONTO, Ontario, April 13, 2012 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) announced today its financial results for the three months ended January 31, 2012.

FIRST QUARTER 2012 HIGHLIGHTS

Excellon Announces La Platosa Exploration Results: High Grades Continue to Extend Manto Sulphides Drill Hole Encounters Source Environment Indicators

Excellon Resources Inc. Mexico’s highest grade silver producer, is pleased to report assay results for seven new drill holes. Of the seven holes, six were directed to the search for additional massive sulphide manto mineralization. Five were drilled west of the northwest corner of the 6A Manto and one was drilled immediately north of the northwest extremity of the Guadalupe Manto. The seventh was drilled in the Rincón del Caído area 1.0 km northwest of the La Platosa Mine to further the search for the large-tonnage proximal source of the massive sulphide mantos.

Globexplore is a customer focused, technology driven mineral exploration drilling contractor devoted to top of class drilling methods and techniques that only years of experience can achieve. Every day we strive to be the industry leader by providing the highest rate of performance, professionalism, safety and environmental responsibility.

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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.