Day: October 21, 2013

SilverCrest impresses with La Joya preliminary economics

Using base case prices of $22 an ounce of silver, $3 per pound of copper, and $1,200 per ounce of gold, the pre-tax net present value of the project was estimated at $133 million at a discount rate of 5%, with an internal rate of return (IRR) of 30.5%. After tax, the figures are projected at $93 million and 22%, respectively.

SilverCrest Announces Positive La Joya Preliminary Economic Assessment Base Case Pre-Tax NPV(5%) of US$133 Million and 30% IRR for “Starter Pit”

SilverCrest Mines Inc. is pleased to announce that it has completed the Preliminary Economic Assessment for its La Joya Silver Copper Gold Project located in Durango, Mexico. Summaries of the current resources used for the PEA, a preliminary Life of Mine Plan, operating costs, capital costs and project economics are presented in tables below. A Technical Report compliant with NI 43-101 is being completed by EBA Engineering Consultants, a Tetra Tech Company with an effective date of September 23, 2013 to be filed within 45 days of this release. All currency values are presented in US$ unless otherwise specified.

Southern Silver Closes Oversubscribed Financing

Southern Silver Exploration Corp. has closed the second tranche of its previously reported non-brokered private placement by issuing 18,200,000 units at a price of $0.02 per unit for gross proceeds of $364,000. Together with the first tranche closing on September 13, 2013, Southern Silver has raised a gross total of $500,603; an oversubscription of the offering. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.05 per share. Securities issued pursuant to this tranche of the private placement, including common shares, share purchase warrants and finder’s warrants issued as finder’s fees, carry a legend restricting trading of the securities until February 12, 2014.

Almaden Infill Drilling Confirms High-Grade Ixtaca North Zone, Hits 12.40 Meters of 3.52 G/T Au, 122.4 G/T Ag (6.0 G/T Aueq) at Ixtaca, Mexico

Almaden Minerals Ltd. is pleased to announce the results from Almaden’s ongoing 2013 Ixtaca Zone drill program at the Company’s 100% owned Tuligtic project, Mexico. Almaden has commenced an infill drilling program with three of the four rigs currently drilling on the project. The infill program has been designed to upgrade resources currently in the inferred category to the higher confidence measured and indicated categories. At the same time one drill rig is focussed on step out drilling to expand the resource. The holes announced today show the continuity of high-grade gold silver veining in the east-west Northern zone defined with previous drilling.

Great Panther Silver Moves Ahead with El Horcon Project

Great Panther Silver Ltd. announces that it has completed a maiden resource estimate for the El Horcon Project and the results are sufficiently encouraging that the Company is moving ahead with permitting for the next phase of exploration.

High Desert Gold Corporation Enters into Agreement to be Acquired by Well-Financed South American Silver Corp

High Desert Gold Corporation is pleased to announce that it has entered into an arrangement agreement pursuant to which South American Silver Corp. will acquire all of the issued and outstanding shares of HDGC that it does not already own in an all-share transaction by way of a plan of arrangement under the Business Corporations Act (British Columbia). Each HDGC share will be exchanged for 0.275 of a SASC Class A Share. SASC currently owns 16,077,000 common shares of HDGC (18.5% on an undiluted basis). Upon completion of the Arrangement, SASC shareholders and HDGC shareholders will own approximately 85.6% and 14.4%, respectively, of Class A Shares of the post Arrangement entity.

Oceanus Appoints New Director

Oceanus Resources Corporation recently held its annual meeting of shareholders where the results of the 2013 exploration program for the La Lajita Gold Property located in the Durango State, Mexico were presented. The presentation highlighted the drilling results which were press released on September 24th, 2013 and included a high-grade intersection of 7.1 g/t Au and 48.8 g/t Ag (8.1 g/t AuEq50) over an interval of 20 meters at the Santo Nino prospect.

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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.