Month: June 2012

Minera Autlán estima alza del 20% en ventas en 2T

La minera mexicana Autlán, la mayor productora de ferroaleaciones del país, informó que sus ventas habrían crecido más de un 20% interanual en el segundo trimestre, impulsadas por el precio del manganeso y un tipo de cambio favorable.

SilverCrest Reports Annual General Meeting Results

SilverCrest Mines Inc. is pleased to announce that the Company’s Audited Consolidated Financial Statements for the year ended December 2011 were received and accepted at its Annual General Meeting held on June 20th, 2012.

Scorpio Mining Updates Mineral Resource at Nuestra Señora

Scorpio Mining Corporation today announced an independent updated Mineral Resource estimate for its 100% owned Nuestra Señora Mine in Sinaloa State, Mexico, completed by Mine Development Associates of Reno, Nevada on behalf of Scorpio Mining. The updated National Instrument 43-101 compliant Mineral Resource estimate was commissioned by Scorpio Mining to allow the Corporation to prepare a development model that allows for better planning, scheduling, and budgeting, taking into account the most recent information available to it and recognizing more appropriately the current understanding of the ore body’s spatial complexity. Scorpio Mining has commissioned MDA to prepare a mine plan based on the resource estimate and other criteria in order to present a reserve estimate which is anticipated around the end of the third quarter or early fourth quarter 2012.

Sonora Mine Site Visit: Timmins Gold Corp.- By: Simon Russell, GoldSeek.com Mining Analyst

Timmins Gold Corp. is a Canadian based mining and development company with a portfolio of exploration properties in northern Mexico, who also owns and operates the San Francisco mine. Recently GoldSeek.com’s President Peter Spina and I visited the company’s flagship mine in Sonora State. Peter had previously visited in 2007 soon after their IPO and first drill results were announced. Today the San Francisco gold mine is a state of the art modern open pit and heap leach operation that is on target to produce over 100,000 ounces of gold in 2012, and is undergoing an expansion to produce at least 130,000 ounces in 2013. Their exploration drilling has also increased the total Resource to over 2.92 million ounces of gold, which includes 1.33 million ounces of Reserves.

AuRico Gold Reports Significant Drill Results from the El Chanate Mine

AuRico Gold Inc. is pleased to provide an update of drilling results from the El Chanate Mine in Sonora, Mexico. Since April 2010, 213 new drill holes for 28,499 metres of drilling (23 drill holes for 5,052 metres since April 8, 2011) have been completed with the objective of converting inferred resources to measured and indicated, extending the deposit at depth to the south and southeast and to explore for extensions to the west and east of the present open pit. Results to date have delineated thick zones of continuous mineralization throughout the deposit and defined anomalous mineralization both east and south of the existing open pit (refer to Table 1 in the Appendix for selected drilling results).

Skeena Arranges Loan for Tropico Project Cu-PGM Metallurgical Investigation

Skeena Resources Limited has arranged a one-year, non-interest bearing loan of $200,000 from a director of the Company. The funds will be used for completion of a bench-scale metallurgical investigation of its Tropico copper-platinum-palladium-gold Project in Sinaloa State, Mexico, and for general corporate purposes. Subject to Exchange approval, the director will be issued a total of 500,000 shares (with a hold period of 4 months) as a bonus for making the loan.

Southridge Minerals Secures $3,500,000 Financing to Fund the El Horconcito Gold Property in Durango, Mexico

Southridge Enterprises Inc. is pleased to announce that Southridge Minerals, Inc., its wholly owned subsidiary, today has executed an agreement with Duvernoi Capital Investments Inc. providing for a $3,500,000 financing. This financing is in the form of a convertible debenture with terms stipulating an interest rate of 8.8% and a loan repayment term of 32 months from the date of execution of the agreement, by way of cash or through the conversion of shares of Southridge stock. The repayment terms of the financing are amenable to the Company’s property development schedule and to future financings plans to retire the debt.

Golden Goliath Resources Ltd.: Agnico-Eagle Starts Drilling at Las Bolas/Los Hilos

Golden Goliath Resources is pleased to provide an update of developments on their extensive exploration portfolio in the Uruachic Mining District in the Sierra Madre Gold-Silver Belt of northwest Mexico. The Uruachic Mining District hosts the recently discovered Orisyvo deposit, a 9.6 million ounce gold deposit currently being explored and developed by Fresnillo PLC, one of the world’s largest mining companies.

Victory Resources Corp Announces $5 Million Financing Commitment

Victory Resources Corp. is pleased to announce that it has entered into an agreement with GEM Global Yield Fund Limited for a $5.0 million CDN financing commitment. Funds raised through this facility will be used for the ongoing drill program and the subsequent engineering work to bring the Reforma mine to feasibility. Funds will also be used for the development of the Company’s recently optioned Boleo property in Mexico, the Toni property located near Merritt, B.C., as well as general working capital.

Animas Resources Regains Full Access to Santa Gertrudis

Animas Resources Ltd. is pleased to announce that Sonora State (Mexico) governmental authorities have granted the Company Provisional Restitution of the disputed lands within the Santa Gertrudis mining district. This action in effect gives the Company complete physical control of and access to the disputed properties, and it is considered to be a major advancement towards a favorable, final resolution of the surface land tenure issues in the area.

Prospero Shareholders Approve AGM Resolutions

Prospero Silver Corp. is pleased to announce that shareholders of the Company approved all resolutions brought before them at the Company’s Annual General Meeting held in Richmond, British Columbia on June 27, 2012.

Seafield Resources Reports Appointment of Vice President, Exploration

Seafield Resources Ltd. is pleased to announce that Giovanny Ortiz has been appointed Vice President, Exploration for the Company, effective immediately. As Seafield’s VP, Exploration, Mr. Ortiz will lead the Company’s continued efforts to develop its Quinchia Gold project in Colombia, with a focus on moving the Miraflores Deposit toward feasibility level. He will also spearhead the regional exploration program within the Company’s 100%-owned, 6,757 hectare land package. Seafield’s previous Vice President, Exploration, Tom Henricksen, will remain as the Company’s Consulting Geologist.

Soltoro Trenching Expands Silver Gold Potential at El Rayo Project in Jalisco, Mexico

Soltoro Ltd. recently concluded a ground geophysical survey over the entire El Rayo Project which served to identify a possible structural extension to the gold resource area. To date Soltoro has defined Indicated Mineral Resources of approximately 22,600 ounces of gold and Inferred Mineral Resources containing approximately 18,900 ounces of gold on the northwest end of the El Rayo structure. The most promising area sampled to date is the La Ocotera zone, which is located to the northwest of the El Rayo gold resource and would add approximately 750 metres of prospective structure to be explored. Results of trenching completed to date include intercepts of 4.8 metres of 1.01 g/t gold and 6.5 metres of 0.91 g/t gold in the La Ocotera area. Selected results from trenching and rock sampling were returned as follows:

Riverside Resources and Partner Sierra Madre Announce Additional Drill Results at the Penoles Project in Durango, Mexico

Riverside Resources Inc. and its partner, Sierra Madre Developments are pleased to announce additional drill results from the 2012 drill program at the El Capitan Target (a bulk tonnage oxide gold deposit), which forms part of the Company’s Peñoles Project in Durango, Mexico. Drilling in 2011 demonstrated good continuity over a strike length of approximately 700 meters (referred to as the Main zone – see press release dated October 24, 2011) and the current program (funded by Sierra Madre) is designed to test the down-dip extent of mineralization and provide sufficient drill-hole density for an initial resource calculation for El Capitan.

Westminster Resources Ltd. – Drilling Has Commenced On The Cumbral-San Bartolo Project

Westminster Resources Ltd. announces the first ever diamond drill hole has been completed at the Cumbral copper, silver and gold project located in Sonora, Mexico. The initial phase expected to be 1,200 meters (of a total planned 4,000 meters) targets four geophysical anomalies. The balance of the program, weather permitting (rainy season), will evaluate other numerous prospects identified on the 8,000 hectare property.

Quaterra Announces Increase in Silver Resource at Nieves, Mexico

Quaterra Resources Inc. and 50% joint-venture partner Blackberry Ventures 1, LLC, today announced that an updated independent resource estimate has substantially increased contained silver ounces at their Nieves property in northern Zacatecas, Mexico.

Bell Copper Announces Results of Annual and Special Meeting of Shareholders

Bell Copper Corporation announces that Messrs. Keith Droste, Richard Ternieden and Michael Werner were re-elected as directors and McGovern, Hurley, Cunningham, LLP was re-appointed as the Company’s auditor at the annual and special meeting of shareholders of the Company held yesterday in Toronto.

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