Month: July 2012

Source to Commence Drilling Program on Higher-Grade Portions of Las Minas Property

Source Exploration Corp. is pleased to announce its 2012 work program for the Las Minas gold-silver-copper project located at Veracruz, State, Mexico. The program will include 2,000 metres of diamond drilling to expand upon and infill the higher-grade portion of the host skarn intrusion identified in Phase 2 drilling. A drilling contract has been awarded to Grupo Drilcor S.A. de C.V. and drilling is scheduled to get underway in mid-August. In addition, continued prospecting and sampling will be carried out to test for extensions of existing mineralization and identification of new gold, silver and copper mineralization at Las Minas, La Miquitta and La Luz concessions as well as the newly acquired San Valentin concession – see press release dated June 26, 2012.

Excellon provides update on Illegal action at La Platosa mine, Durango Mexico

Excellon Resources Inc. reports that on Monday, July 9th, members of the Edijo de La Sierrita, assisted by the NGO group PRODESC and Sindicato Nacional de Trabajadores Mineros Metalúrgicos, Siderúrgicos y Similares de la República Mexicana which is affiliated with the United Steelworkers Union of Canada (USW) commenced an illegal action at the Company’s La Platosa Mine, located in Durango Mexico.

AuRico Gold’s CEO René Marion Steps Down For Health Reasons; Scott Perry Appointed CEO

AuRico Gold Inc. announced today that René Marion, President, Chief Executive Officer and Director has tendered his resignation for health reasons effective September 3, 2012 and that Scott Perry has been appointed President and Chief Executive Officer. Russell Tremayne and Peter MacPhail will remain as the Chief Operating Officers of Mexico and Canada respectively. Mr. Colin Benner has been appointed as Executive Chairman and will work with the management team through the transition period.

Zinco Advises Of Property Reduction And Its Current Cash Position

Zinco Mining Corporation has dropped one concession and applied to reduce the size of five other concessions held in its VMS Jalisco Project in Mexico. This step has been taken to reduce its property holding costs while the company seeks additional financing. Land being abandoned at this time is peripheral to the Company’s core assets.

Hochschild Mining Plc : Production Report for the 6 months ended 30 June 2012

Q2 2012 attributable production of 5.2 million silver equivalent ounces
H1 2012 attributable production of 10.2 million silver equivalent ounces
On track to deliver 2012 attributable production target of 20.0 million silver equivalent ounces
Temporary accumulation of San Jose concentrate inventory at end Q2 2012 due to industry-wide regulatory changes in Argentina; exports resumed and inventory to be sold in H2 2012
Continued progress at Inmaculada and Crespo Advanced Projects
Ongoing positive results from mines and brownfield exploration programme with significant intercepts reported and continued discovery of new economic veins
Resource additions at current operations on track to meet annual target
Solid financial position with total cash of approximately $543m and minority investments of $413.6m as at 30 June 2012

McEwen Mining Announces Good Second Quarter 2012 Production Results

McEwen Mining Inc. is pleased to announce good Second Quarter production results for the San Jose mine. Production of gold and gold equivalent ounces was up 9% over the previous quarter and up 17% over Second Quarter 2011. McEwen Mining’s 49% share of production during the quarter was 10,754 ounces gold and 735,000 ounces silver, representing 24,889 gold and gold equivalent ounces1. Production costs will be announced with the Second Quarter financial results, which will be released in early August of 2012.

Santacruz Announces NI 43-101 Resource at San Felipe

Santacruz Silver Mining Ltd. is pleased to announce an update regarding its activities in Mexico at the San Felipe project, including an initial independent National Instrument 43-101 Mineral Resource estimate. The Mineral Resource estimate was completed by Kelsey Zabrusky under the supervision of Zachery Black SME-RM and Donald E. Hulse PE and SME-RM, of Gustavson Associates, LLC, both of whom are independent “qualified persons” under NI 43-101.

Aura Minerals Announces Management Changes

Aura Minerals Inc. announces that Mr. J. Britt Reid has departed as Executive Vice President and Chief Operating Officer effective July 13, 2012. The Board of Directors and Management thank Mr. Reid for his contributions to the Company over the past three years and wish him success in his future endeavours.

Arian Silver – Operations Update

Arian Silver Corporation a silver exploration, development and production company with a focus of projects in the silver belt of Mexico, announces its wholly owned subsidiary, Arian Silver de Mexico SA de CV is in dispute with the owner of the toll mill which is contracted to process ore from the trial mining operation at the San José mine in Zacatecas State in Mexico; this has resulted in the suspension of milling operations. Detailed discussions to resolve the dispute are under way.

“Quieren destruir una parte de la Sierra Norte de Puebla”

Minera Meteoro. Grupo Frisco: El incremento de la exploración, a finales de diciembre de 2011, en las más de 10 mil hectáreas concesionadas a la empresa puso en alerta a los habitantes del municipio, quienes constituyeron una organización para frenar la extracción de oro y plata.

Baja Mining Provides Update

In May, Baja retained BMO Capital Markets to assist in considering financing options and possible sources of funding. Non-disclosure agreements were signed by a number of interested parties, who were granted access to Baja’s data room and attended management presentations. A draft independent engineering report prepared by SRK was recently provided to parties participating in the BMO process.

Endeavour Silver and AuRico Gold Complete the Purchase/Sale of the El Cubo Mine and Guadalupe y Calvo Project in Mexico

Endeavour Silver Corp. and AuRico Gold Inc. are pleased to announce that they have completed the acquisition by Endeavour of 100% interests in AuRico Gold’s El Cubo silver-gold mine in Guanajuato State, Mexico and the Guadalupe y Calvo silver-gold exploration project in Chihuahua State, Mexico. Total consideration paid at closing by Endeavour was US$200 million comprised of US$100 million in cash and US$100 million in Endeavour common shares (11,037,528 shares). AuRico will also be entitled to receive up to an additional US$50 million in cash payments from Endeavour conditional on the occurrence of certain events during the next three years. Endeavour will provide more details on its plans for El Cubo and Guadalupe y Calvo next week.

Almaden Hits 11.00 Meters of 1.09 g/t Au and 580.7 g/t Ag (12.7 g/t AuEq) in Ixtaca North Zone

Almaden Minerals Ltd. is pleased to announce further results from the on-going four drill exploration program on the Company’s 100% owned Tuligtic project, Mexico with hole TU-12-145 drilled into the Ixtaca North Zone, a developing parallel zone to the Main Ixtaca Zone. The intercept in hole TU-12-145 includes high grades and expands the known extent of Ixtaca North Zone. Highlights from hole TU-12-145 include the following intercepts (a more complete list of intercepts is shown in the table below):

Sierra Madre Developments and Partner Riverside Resources Announce Additional Drill Results From El Capitan in Durango, Mexico

Sierra Madre Developments and its partner, Riverside Resources Inc. are pleased to announce additional drill results from the 2012 drill program at the El Capitan Target (a near surface, shallow dipping, oxide gold deposit), which forms part of the Company’s Peñoles Project in Durango, Mexico. Drilling in 2011 (18 holes) indicated potentially economic grade mineralization over significant widths (30 to 110 meters) and good continuity of the mineralized zone over a strike length of approximately 700 meters (referred to as the Main zone – see press release dated October 24, 2011). The El Capitan Zone is exposed in the side of a low ridge and most of the 2011 program consisted of inclined holes drilled from the top of the ridge at an azimuth of 030 degrees (perpendicular to the strike of El Capitan). The current program consists of an additional 20 holes (funded by Sierra Madre) designed to test the down dip extent of mineralization and provide sufficient drill hole density for an initial resource calculation.

Capstone 2012 Second Quarter Production Results On Target

Capstone Mining Corp. today announced its operating results for the three and six months ended June 30, 2012 for its two operating mines, Cozamin and Minto. Combined production totalled 21.9 and 40.5 million pounds of copper in concentrates in the second quarter and first six months, respectively, with additional by-products of lead, zinc, silver and gold.

Admite Frisco que mina de Tetela está cerca de zonas ambientales protegidas

A pesar que desde mayo la empresa Frisco ejecuta trabajos tendientes a explotar yacimientos de oro y plata en la región de Tetela de Ocampo, apenas hace 13 días solicitó a la Secretaría del Medio Ambiente y Recursos Naturales (Semarnat) el Procedimiento de Evaluación de Impacto Ambiental para el proyecto de exploración de la minera Espejeras.

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