Paramount Gold and Silver Corp. announced today that the final NI-43-101-compliant updated resource report for its 100%-owned San Miguel Project in northern Mexico has been filed on www.SEDAR.com. The report can also be downloaded from Paramount’s web site. The results of the updated estimate were released on September 5, 2012.
Yale Resources Ltd. is pleased to report that optionee Mammoth Resources Corp. has announced the completion of the first phase of its comprehensive work program and that further work is planned for the 290 square kilometre Urique Project, located in Chihuahua State, Mexico. Work at Urique was performed by Yale on behalf of Mammoth.
Endeavour Silver Corp. announces that the illegal work stoppage that blocked Company management and subsidiaries personnel from accessing certain facilities held under lease near the El Cubo mine located in the state of Guanajuato, Mexico has now been resolved.
First Majestic Silver Corp. is pleased to announce that total production at its four operating mines in Mexico for the third quarter ending September 30, 2012, reached 2,438,085 equivalent ounces of silver, representing a 36% increase compared to the same quarter in 2011. Total silver production for the quarter consisted of 2,205,237 ounces of silver, representing a 29% increase compared to the same quarter in 2011. In addition, 3,307,944 pounds of lead and 844,953 pounds of zinc were produced representing increases of 75% and 100%, respectively, compared to the same quarter in the previous year. Also, 1,537 ounces of gold was produced, representing an increase of 276% compared to the third quarter of 2011.
MINERA FRISCO Y AURICO GOLD CELEBRAN UN ACUERDO DEFINITIVO CONFORME AL CUAL MINERA FRISCO, S.A.B. DE C.V. INFORMA QUE SU CONSEJO DE ADMINISTRACíÓN HA DECIDIDO SOMETER A LA CONSIDERACíÓN DE LA ASAMBLEA DE ACCIONISTAS DE LA SOCIEDAD LA ADQUISICíÓN DE LA TOTALIDAD DE LAS ACCIONES EN CIRCULACíÓN REPRESENTATIVAS DEL CAPITAL SOCIAL DE AURICO GOLD DE MÉXICO, S.A. DE C.V., UNA SUBSIDIARIA DE AURICO GOLD INC. (NYSE, TSX: AUQ), QUE ES TITULAR DE LAS CONCESIONES Y DERECHOS CONFORME A LAS CUALES OPERA Y EXPLOTA LA MINA CONOCIDA COMO “OCAMPO” Y REALIZA ESTUDIOS DE FACTIBILIDAD Y OTRAS ACTIVIDADES DE EXPLORACíÓN EN LAS PROPIEDADES CONOCIDAS COMO “VENUS” Y “LOS JARROS”, TODAS UBICADAS EN EL ESTADO DE CHIHUAHUA, ASÍ COMO DE UNA PARTICIPACíÓN DEL 50% EN EL CAPITAL SOCIAL DE OTRA SUBSIDIARIA DE AURICO GOLD INC., TITULAR DE LOS DERECHOS PARA EXPLORAR Y DESARROLLAR EL PROYECTO MINERO CONOCIDO COMO “ORíÓN”, UBICADO EN EL ESTADO DE NAYARIT, POR UNA CONTRAPRESTACíÓN TOTAL EN EFECTIVO DE EU$750 MILLONES DE DÓLARES. SE ESPERA CONCLUIR LA TRANSACCíÓN EN DICIEMBRE DE 2012.LA TRANSACCíÓN SE ENCUENTRA SUJETA AL CUMPLIMIENTO DE CONDICIONES DE CIERRE USUALES EN OPERACIONES DE ESTE TIPO, INCLUYENDO AUTORIZACIONES REGULATORIAS Y CORPORATIVAS COMO LA AUTORIZACíÓN DE LA COMISíÓN FEDERAL DE COMPETENCIA Y LA APROBACíÓN DE LA ASAMBLEA DE ACCIONISTAS DE MFRISCO.
AuRico Gold Inc. is pleased to announce that it has entered into a definitive agreement pursuant to which Minera Frisco, S.A.B. de C.V. will acquire the Ocampo mine and the adjacent exploration projects “Venus” and “Los Jarros” all located in Chihuahua State, Mexico and a 50% interest in the Orion advanced development project located in Nayarit State, Mexico from AuRico Gold, for a total cash consideration of $750 million. Minera Frisco is a leading Mexican mining company that was spun out of Grupo Carso S.A. de C.V. in November 2010 and is listed on the Mexican Stock Exchange with a current market capitalization of approximately $10.7 billion. The transaction is expected to close in December 2012.
Mammoth Resources Corp. is pleased to report results from the first phase of its field exploration program at the 28,970 hectare Urique Property, located in Chihuahua State, Mexico. The project is surrounded on three sides by Goldcorp’s El Sauzal gold mine to the south, Kimber Resources’ Monterde property to the north and Paramount Gold and Silver’s San Miguel project to the west (refer to Figure 1. Location of Mammoth Resources – Yale Resources Urique Joint Venture, Chihuahua State, Mexico http://media3.marketwire.com/docs/mth109fig1.pdf). Work is being supervised by Mammoth Vice President Exploration, Richard Simpson, P. Geo, and is being carried out by Yale Resources geologists. Mammoth is optioning the Urique Project from Yale Resources.
On Tuesday, the top TSX mover was Baja Mining Corp. (TSX: T.T.BAJ, Stock Forum). The stock rose 17.65% on volume of 3.7 million shares. There has been renewed interest in the company after Baja reported it had received additional funding on Oct. 5, allowing it to continue construction on the Boleo project. The copper-cobalt-zinc-manganese project, located in Mexico, was the topic of recent controversy after Baja reported an increased capital cost as high as US$1.7 billion for the project.
Silver Bull Resources, Inc. (SVB.TO) today announced the drill results for the 6th batch of drill holes from the underground drill program twinning a series of “long holes” in a high grade silver zone situated at the eastern end of the Shallow Silver Zone on the Sierra Mojada Project.
Aura Silver Resources Inc. is pleased to announce that Mr. Nick Tintor has been appointed the Independent Chairman of the Board of Directors of Aura Silver. Mr. Tintor is Managing Director of RG Mining Investments Inc., and President & Chief Executive Officer and a Director of Caracara Silver Inc. as well as Ferrum Americas Mining Inc. From January 2007 to March 2011, Nick acted as the President & CEO and a Director of Homeland Uranium Inc. as well as the President & CEO of Southern Andes Energy Inc. (now amalgamated with Macusani Yellowcake Inc.).
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