Month: April 2012

Virgin Metals Inc. today discussed recent progress at its 100% owned Los Verdes Project in Sonora, Mexico.

Vane Minerals’ revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.

International Northair Mines Ltd. is pleased to provide an update of its La Cigarra silver project, located in north central Mexico.

Camino Minerals Corporation is pleased to announce that a soil geochemical survey is currently underway at the recently optioned El Secreto Gold, Silver and Copper Project (“El Secreto” or the “Project”), located Sinaloa State, Mexico. Over 1,260 samples will be taken in an area approximately 9,000 hectares (34 square miles) in size. The survey is expected to take three months to complete.

Prospero Silver Corp. is pleased to announce completion of a detailed ground magnetic survey on two of its claims over an area of approximately 9km x 9km in the “Western Lineament” zone of its Santa Maria del Oro Project in Durango State, Mexico. Prospero controls 33,800 Ha in the district and has identified three distinct target areas: The Western Lineament zone, the Matorral zone, and the Pastoria-Llanos de Cabrera valley. Collectively, these target areas virtually surround the past-producing Magistral del Oro high-grade gold mines (refer to Figure 1). The survey addressed in this news release focuses on the Western Lineament zone.

Yale Resources Ltd. is pleased to report that it has received $50,000 and 50,000 common shares from Overlord Capital Ltd. as the initial commitment for the recently finalized option of an up to 70% interest in Yale’s wholly owned Orofino Property located in Sonora State, Mexico. The transaction is Overlord’s “Qualifying Transaction”. Yale will be the initial operator and will manage the exploration on the property.

Cayden Resources Inc. is pleased to announce that it has acquired an option to earn a 100% interest in the 9,800 ha El Barqueno Gold Property. The Property is approximately 110 km west of Guadalajara in the state of Jalisco, Mexico. Under the Option, Cayden can acquire 100% of El Barqueno by making option payments to a subsidiary of Grupo Mexico over a three year period aggregating US $8 million (plus recoverable VAT) with payments of only $2.1 million in the first 24 months. The Option is subject to a 1.5% NSR (4% on a portion of the Property) and annual advance royalty obligations after 24 months from option exercise if commercial production has not commenced by then. A finders fee equivalent to 10% of the value of the option is payable to Ing. Antonio Berlanga, the finders fee will be payable at the rate of the option not to exceed $800,000USD of which will be paid 80% in shares and the balance in cash.

Soltoro Ltd. has commenced a reverse circulation drill program in the Piedras Amarillas mineralized zone at its 100% owned El Rayo silver project. Currently two diamond drill rigs and one RC rig are drilling at El Rayo to expand the existing measured and indicated 77.4 million ounce silver resource. The Piedras Amarillas mineralized area has never been mined or drill tested and is similar in size and orientation to that of the Las Bolas deposit area. To date Soltoro has completed soil sampling, trenching, a ground magnetics survey and an Induced Polarization study in order to define drill targets at Piedras Amarillas.