Month: October 2013

NSX Silver Acquires 800 Hectares of Prospective Property in Sonora, Mexico

NSX Silver Inc. reports that it has acquired by request to the Mexican government two mining concessions covering a total of 856 hectares located in the Municipality of Tecoripa, State of Sonora, Mexico. The mining concessions, designated Guisa 1 and Guisa 2, are contiguous, and are situated approximately 140 kilometers east of the capital city of Hermosillo.

Goldgroup Announces the Filing of Legal Action

Goldgroup Mining Inc. announces that it has filed a legal action before the appropriate criminal authorities in Mexico concerning recent activities undertaken by Koy Wilber Diepholz, shareholder, President and Chairman of the Board of Directors of Dyna Resources de Mexico, S.A. de C.V. and Chairman, Chief Executive Officer and Treasurer of DynaResources Inc. DynaMex is owned 50% by Goldgroup, 49% by DynaUSA and 1% by Diepholz.

Mexus Mining Updates

Mexus Enterprise heap leaching continues to produce gold. Our RC drilling program on the newly acquired San Felix is going as planned with 5 holes completed with near surface intercepts from 78′ to 126′ thick mineralized zones found, the drilling will continue. The San Felix mine is known to have been mined underground by the Spaniards some 350 years ago to a depth of 300′. Some of the old workings are open today. Up until recent times, mining anything under two ounces per ton was not considered economically feasible. Mexus will use contract miners that already have the necessary equipment needed to mine 6000 tons a day. Recent assay show 0.300 to 11.430 grams per ton gold and 18.16 grams per ton silver with an average of 2 grams per ton gold. Although our drilling shows great potential, Mexus is considering all options at this time.

MAG Silver Announces Start of Juanicipio Underground Development

MAG Silver Corp. announces that its joint venture partner and project operator, Fresnillo plc, has commenced underground development at the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. Portal area preparation is in the final stages of completion and a continuous miner is planned to start excavating the uppermost part of the access ramp (see photo below). The initiation of underground work follows a year of engineering, hydrological and environmental studies in support of required permits, all of which are now in hand. The underground work is being carried out under a previously approved initial development budget that includes the commencement of the first 2,500 metres of ramp advancement. The Juanicipio Project is held in Minera Juanicipio S.A. de C.V. (“Minera Juanicipio”), a Mexican joint venture company owned 44% by MAG and 56% by Fresnillo.

Amarium Schedules Additional Copper Shipments to Asian Market

Amarium Technologies Inc., through its wholly owned subsidiary Amarium Minerals Inc., reports that the Company has scheduled additional copper shipments to the Asian market, due to increased sales orders from Anglo-Asia Resource Partners. Amarium is currently organizing shipping and production schedules at both the Jovita and San Pedro Mine facilities to ensure the Company successfully fulfills the new sales orders. Anglo-Asia Resource Partners is a private Hong Kong partnership that is focused on procuring precious and base metals for the Asian market’s manufacturing and industrial supply chain.

Freyja Resources Inc. Announces Acquisition of Cyprium Mining Corporation and Completion of Private Placement of Units

Freyja Resources Inc. is pleased to announce that it has acquired one-hundred percent (100%) of the issued and outstanding common shares in the capital of Cyprium Mining Corporation, a junior mining company which targets the acquisition and generation of mining projects located solely in Northern Mexico that have the potential for profitable precious and base metal open pit production. For further details regarding the Transaction, please see Freyja’s press releases dated June 18, 2013, August 1, 2013, August 9, 2013, September 9, 2013, September 18, 2013 and September 30, 2013.

Mexico proposed 7.5% mining tax scares away investors, kills juniors

Until a few months ago, Mexico was one of the rare countries left in the world that didn’t charge taxes on mining production or profits. But a proposed 7.5% tax on resource companies, and as much as 8% for gold, silver and platinum miners, is scaring investors and small players away.

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