Month: July 2014

Riverside Resources and Alliance Partner Hochschild Mining Discover High Grade Gold Zone and Continue Advancing Exploration at the Cajon Gold Project in Sonora, Mexico

Riverside Resources Inc. is pleased to announce results from the recent exploration program and upcoming plans at the Cajon Project in Sonora, Mexico. Riverside conducted an exploration program consisting of detailed rock sampling and structural, geologic, and short-wave infrared (SWIR) alteration mapping. This work has led to the discovery and initial delineation of gold-bearing vein zones similar to those found at the Herradura Mine (operated by Newmont-Fresnillo) located 147 km to the northwest and the San Francisco Mine (operated by Timmins Gold) located 60 km to the east. At Cajon, the initial target area of San Blas has been the primary focus so far with very promising results from rock samples taken to date. A total of 294 rock samples were collected, averaging 0.51 g/t gold (Au), including 20 samples with grades above 1 g/t Au and two samples of 37.9 and 19.11 g/t Au.

MAG Silver Reports Additional Silver-Copper and Pervasive Zinc Mineralization at Salamandra

MAG Silver Corp. announces assay results from its twelve hole, 6,500 metre Phase 2 drill program on the Salamandra Property in Durango, Mexico optioned from Canasil Resources Inc. Phase 2 drilling began in late February of 2014 and concluded in May. The Phase 1 assays were released in a press release dated March 17, 2014, and combined with Phase 2, MAG has now drilled 10,112 metres in 17 holes on the Salamandra property, complementing an initial 12 holes previously drilled by Canasil.

Soltoro Grants Options, Appoints Advisory Board Member and Retains Red Cloud Mining

Soltoro Ltd. has awarded 4,170,000 incentive stock options exercisable at $0.14 per common share to officers, directors and consultants of the Company. This grant of options is in compliance with the terms of the Company’s Stock Option Plan and remains subject to the acceptance of the TSX Venture Exchange. This grant of options was awarded after the close on July 18, 2014 and has expiry dates of July 18, 2017 and December 18, 2017.

Kootenay closes first tranche of non-brokered private placement of $1,633,000

Kootenay Silver Inc. is pleased to announce that, further to its press release dated June 20, 2014, it has received subscriptions for $1,984,050 under the non-brokered private placement of units and has today closed the initial tranche of the Private Placement totaling $1,633,050 and issued an aggregate of 5,443,500 Units at a purchase price of $0.30 per Unit. The Company anticipates closing the balance of the Private Placement shortly and will provide an update in due course.

Almaden Minerals Ltd. Announces Upto $6.0 Million Non-Brokered Private Placement

Almaden Minerals Ltd. announces that it is carrying out a non-brokered private placement of up to 4,000,000 units at $1.50 per Unit. Each Unit consists of one common share of the Company and one-half of one non-transferable common share purchase warrant. Each Warrant will allow the holder to purchase one common share of the Company at a price of $2.00 per share for 12 months. A finder’s fee is to be paid on a portion of the placement of 5% in cash and 3% in finder’s warrants to purchase common shares of the Company at a price of $1.50 per common share for 12 months. The private placement, including payment of the finder’s fee, is subject to regulatory approval.

Gold Resource major shareholder Sells $112,324 in Stock

Gold Resource major shareholder Mining Plc Hochschild sold 22,646 shares of the stock on the open market in a transaction dated Monday, July 14th. The shares were sold at an average price of $4.96, for a total transaction of $112,324.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC

Tarsis Provides Update on Continuing Exploration at Yago Gold-Silver Project, Mexico

Tarsis Resources Ltd. is pleased to provide an update on its continued exploration at the Yago project located in Mexico. The Yago project features gold and silver mineralization within a low-sulphidation epithermal environment. The project hosts three significant centers of mineralization within a 15 by 15 km area. Tarsis follows the prospect generator business model and is carrying out this exploration to upgrade the project as part of its efforts to attract an option partner.

Silvercrest Announces Q2 Production 173,000 Ounces Silver and 3,995 Ounces Gold

SilverCrest Mines Inc. is pleased to announce silver and gold production results from its 100% owned Santa Elena Mine located in Sonora, Mexico, for the second quarter of 2014. The Santa Elena Mine is currently transitioning from an open pit heap leach to a conventional 3,000 tonne per day mill facility and underground operation. As a result, projected and actual production for the quarter were lower than that of the comparable quarter of 2013. An update on the commissioning activities is provided below. For additional information and to view photos and videos, please visit the Company’s website at www.silvercrestmines.com.

Santacruz Silver Announces Second Quarter 2014 Production Results

Santacruz Silver Mining Ltd. is pleased to announce second quarter 2014 production of 169,800 payable silver equivalent ounces from the Company’s Rosario Mine in San Luis Potosi, Mexico. This production represents a 40% quarter over quarter increase as compared with Q1 2014 payable silver equivalent ounces and the Company remains on schedule to meet its production target of between 850,000 to 1,100,000 silver equivalent ounces by the year-end 2014.

McEwen Mining Q2 2014 Production Results

McEwen Mining Inc. is pleased to announce production results for Q2 2014. Production in Q2 was 31,200 gold eq. oz comprised of 18,863 gold oz and 740,276 silver oz, consistent with guidance. This is a decrease of 8% compared to Q2 2013 and 3% compared to Q1 2014. Full-year guidance remains unchanged at 135,000-140,000 gold eq. oz as production is expected to increase in Q4, due to 1) 50% more processing capacity at El Gallo 1; and 2) higher grades at San José. Production costs will be reported in August 2014 with Q2 financials.

Cyprium Mining Completes Phase 1 of Drilling at Las Cristinas, Mexico

Cyprium Mining Corporation announced today that it has completed its first phase of drilling on its Las Cristinas property located in Chihuahua State, Mexico. This phase of the Company’s exploration program included a total of 1,204 meters of diamond drilling and focused on the North Mount and South Mount, a 550 meter long mineralized section located at the southern end of the property where copper production took place in the early 70s. A total of twelve holes were drilled to a maximum vertical depth of 150 meters. The main objective of phase one was to test potential sulphide copper/silver mineralization at depth. The drilling program also forms part of the Company’s plan to produce an initial NI 43-101 compliant resource report by the end of 2014.

Mercator Provides Update on Merger Deal with Intergeo

Mercator Minerals Ltd (“Mercator” or the “Company”) announces that it has been advised by Intergeo MMC Ltd (“Intergeo”) that Intergeo does not currently expect to request or agree to an extension of the completion deadline beyond August 1, 2014 in connection with the proposed business combination between Mercator and Intergeo pursuant to the arrangement agreement (the “Arrangement Agreement”) between Mercator and Intergeo dated December 12, 2013.

Orex and Fresnillo Add a Second Drill Rig to the Coneto Silver-Gold Project in Durango

Orex Minerals Inc. in conjunction with their project partner Fresnillo PLC, have mobilized a second exploration diamond drilling rig to their Coneto Silver-Gold Project in Durango, Mexico, and a third drill rig is being planned. A joint technical committee, with both Orex and Fresnillo representation, is guiding the Coneto project, with Fresnillo as the operator.

Aurcana Appoints New Board Member

Mr. Jose Manuel Borquez has been named a director of Aurcana Corporation. Mr. Borquez is an attorney based in Santiago, Chile who has worked in the natural resources sector for 25 years. An International Natural Resources lawyer specialized in Latin America, he is a graduate of the School of Law of the Universidad de Chile with Law, Economics and International Relations studies at the graduate level at the Diplomatic Academy of Chile (1985-1986) and at Georgetown University Law Center and the School of Foreign Service in Washington, D.C. (1987/1988). He was admitted to the Bar in Chile in 1985. He has been involved in assignments throughout the Americas as well as Africa and the Middle East. Clients range from multinational mining companies to privately-owned mines, financial institutions and government agencies. Corporate clients of note have included Placer Dome Inc, Antofagasta, Xstrata and Codelco, among many other companies. His broad experience in the precious metals and base metals sectors ranges from exploration and mining to reclamation.

MAG Silver Closes $79 Million Common Share Offering

MAG Silver Corp. announces that it has completed its previously announced bought deal financing and has issued 7,712,000 common shares, including 392,000 common shares issued on partial exercise of the over-allotment option, at C$10.25 per share, for gross proceeds of C$79 million. The Offering was conducted by a syndicate of underwriters, led by BMO Capital Markets and Raymond James Ltd., and including Macquarie Capital Markets Canada Ltd., Scotia Capital Inc., H.C. Wainwright & Co. LLC, National Bank Financial Inc., TD Securities Inc. and PI Financial Corp. The Underwriters reserve the right to exercise all or any portion of the balance of the over-allotment option, 706,000 shares, at any time within 30 days following closing.

Mammoth Announces Non-Brokered Private Placement Financing

Mammoth Resources Corp. would like to announce that it intends to proceed with a non-brokered private placement of up to 9.3 million units of the Company at an offering price of $0.035 per Unit based on the company’s 20-day VWAP, for gross proceeds of up to $325,500. Each Unit consists of one common share of the Company and one common share purchase warrant. Each Warrant will entitle the holder thereof to acquire one Common Share until two years following closing of the private placement, at an exercise price of $0.10. The Company has set no minimum number of Units to be distributed and no minimum dollar amount required to be raised in connection with the Private Placement.

Inversión minera caerá por segundo año consecutivo

La Cámara Minera de México (Camimex) estimó que la economía mexicana captará 6,176 millones de dólares de inversiones en el sector de la minería en 2014, lo que representa una caída de 6.1% frente año pasado.

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