Month: August 2012

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 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 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.

Terry Coughlan, President and CEO of GoGold Resources Inc. is pleased to update and recap highlights of the exciting exploration activities at its San Diego Project in Durango, Mexico and its newly acquired Parral Tailings development Project in Chihuahua, Mexico.

Almaden Minerals Ltd. is pleased to announce further results from the on-going exploration drill program on the Company’s 100% owned Tuligtic project, Mexico with holes TU-12-159, 162, 164, 166 and 168. Holes TU-12-164 and 168 were drilled on section 10+425E into the Main Ixtaca Zone. Holes TU-12-159, 162 and 166 were drilled at 070 degrees on section 50+000N into the Northeast Extension Zone, which trends perpendicular to the Main Ixtaca Zone. The intercepts in holes TU-12-159, 162 and 166, together with previously reported holes on this section show the Northeast Extension to be continuously mineralised over 400 meters downdip. Holes TU-12-164 and 168 on section 10+425E show the presence of variability and high grades in this part of the Main Ixtaca Zone. Highlights from the holes released today include the following intercepts (a more complete list of intercepts is shown in the table below):