Day: August 8, 2012

McEwen Mining Provides Second 2012 Operational and Development Update

McEwen Mining Inc. is pleased to provide a summary of the second quarter, including operational and development updates, for its projects in Argentina, Mexico and Nevada. During the six months ending June 30th, the Company’s attributable production was 47,640 ounces of gold and gold equivalent and remains on schedule to produce a total of 105,000 ounces in 2012. Production was up 9% over the previous quarter and up 17% over second quarter 2011.

Canasil Completes Expenditures for 51% Earn-in of Pan American Silver’s Escobar Claims at Sandra-Escobar Project in Durango State, Mexico

Canasil Resources Inc. announces completion of the $1 million expenditure requirement to earn 51% interest in Pan American Silver’s Escobar claims at the Sandra-Escobar silver-gold project in Durango State, Mexico. As required under the option and joint venture agreement dated March 24, 2009, Canasil has delivered to Pan American a formal notice of earn-in on June 22, 2012, based on expenditures under the agreement of $1,107,008. Data and reports covering the exploration programs up to December 2011 were delivered to Pan American in January 2012, and the final reports and data covering the exploration work from January to June 2012 were delivered on July 20, 2012.

Canasil Completes 2012 Exploration Program and Outlines Seven Silver-Gold Targets at the Sandra-Escobar Project in Durango State, Mexico

Canasil Resources Inc. announces completion of the 2012 exploration program at the Sandra-Escobar silver-gold project in northern Durango State, Mexico, outlining seven significant silver-gold targets over an area of 25 square kilometres. The 2012 program included an ASTER satellite alteration survey, surface mapping and sampling including collection of 370 surface samples, and an 11.8 line-kilometre ground IP geophysical survey, complementing previous mapping and sampling, airborne ZTEM geophysical survey and 1,849 metres of diamond drilling in 11 drill holes completed up to December 2011. These programs have confirmed evidence of a large hydrothermal system centred on an intrusive source and surrounded by mineralized zones observed at surface with veins and outcrops returning high silver, gold, copper, lead and zinc mineralization, with the potential for hosting both high grade vein style and disseminated mineralization. The results are consistent with earlier interpretations based on the project’s geologic setting and similarities with some major silver and gold deposits in northern Durango State such as La Pitarrilla, San Agustin and El Cairo, as outlined prior to these programs in Canasil’s news release dated July 14, 2009.

Corex Completes Non-Brokered Private Placement for $1,078,500

Corex Gold Corp. is pleased to advise it has subject to TSX Venture Exchange approval, completed, a non-brokered private placement for 13,481,250 units at a price of $0.08 per Unit. Each Unit consists of one common share and one share purchase warrant. Each Warrant entitles the holder to subscribe for one common share at a price of $0.15 for a period of twenty four months following the closing of the Financing.

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.

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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.