Day: June 23, 2014

Pan American Silver Announces Positive Results for Dolores’ Preliminary Economic Assessment

Pan American Silver Corp. is pleased to announce the positive results of a preliminary economic assessment of expanding its Dolores mine in Chihuahua, Mexico by adding a milling and pulp agglomeration circuit to the processing flow sheet to enhance silver and gold recoveries of higher grade mineralization, as well as by developing an underground mine to extract mineral resources that exist beneath and to the south of the ultimate open pit floor (the “Project”). The preliminary results indicate that the Project has the potential to generate excellent after-tax economic returns using the Company’s current reserve metal prices of $22 per ounce of silver and $1,300 per ounce of gold. The Project economics also remain robust at long term metal prices of $19 per ounce of silver and $1,200 per ounce of gold. The Project will increase average annual silver production from 3.65 million ounces to 5.04 million ounces, while average annual gold production will increase from an estimated 111,000 ounces to 148,000 ounces. The PEA contemplates an incremental capital investment of $105 million for the expansion. Pan American has decided to defer making a construction decision for the next 9 to 12 months while it invests a modest amount of capital (estimated at $3.0 to $5.0 million) to proceed with additional studies, and continue the delineation of the underground accessible mineralization, in order to further de-risk the Project.

Vendome Resources Completes One Year Extension of La Diana Earn-In Agreement

Vendome Resources Corp. is a Toronto, Canada based minerals exploration company with key exploration assets in Guerrero State, Mexico and the Borden Lake Gold District, Ontario, Canada. Pursuant to the company’s press release dated December 20, 2013, the company is pleased to announce that the TSXV has accepted for filing, an extension to the company’s earn-in option agreement for a 50% interest in the La Diana Property located in Malinaltepec, Guerrero, Mexico.

GoGold Resources Announces Effective Date of Early Warrant Exercise Incentive Program

GoGold Resources Inc. is pleased to announce that the conditions to the early warrant exercise incentive program for the common share purchase warrants exercisable for common shares of the Company which were issued on July 27, 2012 in connection with the Company’s acquisition of Absolute Gold Holdings Incorporated, as announced on June 10, 2014, have been satisfied.

Corex Gold jumps 18% on financing deal for Santana project

Shares of Corex Gold (TSE:CGE) surged Monday after H. Morgan & Company agreed to provide the junior explorer with financing of up to $1.65 million, as well as operational and management services, to help move Corex’s Santana property in Mexico to production.

Baja Issues Corporate Update and Provides Boleo Start-up Schedule Update

Baja Mining Corp. is pleased to announce that further to its news release of May 13, 2014, Minera y Metalurgica del Boleo, S.A. P.I. de C.V. and Korea Resources Corporation have provided it with documentation confirming the termination of the 2010 Project Financing senior facilities, including the termination and/or release of all related Baja guarantees (US$160.6 million as at March 31, 2013, plus any overall completion guarantee), security interests and pledges. Accordingly, Baja is no longer liable as a guarantor of any amounts borrowed by MMB, nor is it liable in respect of any overall economic completion guarantee related to project finance for the Boleo Project. Baja remains a 10% shareholder of MMB and if the total costs to complete the Boleo Project exceed US$1,751 million and further equity funding is required, Baja must participate on a pro rata basis or Baja’s current 10% interest in MMB will be further diluted.

Avino Silver Re-Opens Mill Circuit 2

Avino Silver & Gold Mines Ltd. today announced that as of Thursday June 19th, mill Circuit 2 is back online processing above ground stockpiles from the Avino mine. With Circuit 2 back online, Avino’s processing plant is once again operating at full capacity.

Riverside Resources and Partner Morro Bay Resources Drill 251.2 g/t Silver and 0.79 g/t Gold Over 9.5 Metres at the Penoles Gold-Silver Project in Durango, Mexico

Riverside Resources Inc. is pleased to announce the results from an additional six drill holes that were completed at the recently discovered Jesus Maria South Zone at the Penoles Project in Durango, Mexico. The Company believes that these results confirm the continuity and extent of the near surface Zone away from areas of historic mining.

Torex to Significantly Add to the Number of Gold Ounces Mined and in Stockpile for Processing in 2015

Torex Gold Resources Inc. is pleased to announce that mining of the “North Nose” pit has started, and this mining will add approximately 72,000 recoverable ounces into a stockpile that will be available when the plant is ready for commissioning in August of 2015. The Company expects to process this material in 2015, in addition to the previously planned 38,000 ounces of 2015 production from its El Limon-Guajes Project in Mexico.

Nuestras responsabilidad con los clientes es ofrecer productos de calidad y una atención personalizada para las necesidades de cada uno de ellos. Así mismo, nuestro compromiso con la sociedad en México es cumplir con las medidas de seguridad recomendadas por la Secretaría de la Defensa para el manejo de materiales peligrosos.

Nuestras responsabilidad con los clientes es ofrecer productos de calidad y una atención personalizada para las necesidades de cada uno de ellos. Así mismo, nuestro compromiso con la sociedad en México es cumplir con las medidas de seguridad recomendadas por la Secretaría de la Defensa para el manejo de materiales peligrosos.