Canarc Resource Corp. announces that it has engaged Mining Plus Engineering to complete during Q4 2015 a NI 43-101 Resource Report and detailed Preliminary Economic Assessment Report for the newly acquired El Compas project in Mexico.
Our third quarter results saw overall improvements in silver recoveries and throughput rates primarily due to the recent expansion of the La Encantada plant to 3,000 tonnes per day. At San Martin and La Guitarra, we continue to encounter high grades of silver and gold which resulted in record quarterly production at both operations, stated Keith Neumeyer, President & CEO of First Majestic. However, due to the continued weakness in metal prices, we are modifying our operations in order to ensure free cash flow is generated across the entire business. These changes include additional layoffs and mine plan revisions. Once these changes are fully implemented, and with the addition of the newly acquired Santa Elena Mine, the Company is expected to benefit from improved operating margins, increased cash flows and greater economies of scale.
San Marco Resources Inc. announces that the expiry date of its warrant exercise incentive program respecting warrants issued under two non-brokered private placements completed in 2014 and 2015 has been extended to Friday, October 30, 2015.
U.S. Precious Metals, Inc. announces its final drilling results from the 2015 drill program on its Solidaridad property, Michoacán, Mexico. The 2015 program consisted of 4,303 meters of diamond drilling resulting in 27 holes. The drill program provided infill drilling on the “Main Zone,” confirmation drilling of older RC drill results and some exploratory drilling in the “North,” “South,” “East” and “West Zones” which surround the “Main Zone.” The “Main Zone” drilling continued to return excellent Cu-Ag-Au results while exploratory drilling on the “North Zone” targets returned high grade intervals.
First Mexican Gold Corp. is pleased to announce, further to its September 22, 2015 press release, it has executed a definitive agreement with Link Natural Resources FZC (LNR), a private entity in the United Arab Emirates (Dubai) to form a 50/50 Joint-Venture in order to further advance the Guadalupe project. LNR will acquire a 50% working interest in exchange for a scheduled investment within the first year totaling $8.0 million (all funds US) in accordance with the following:
Marlin Gold Mining Ltd. is pleased to announce that it has fully dewatered the Taunus pit at the La Trinidad property in Sinaloa, Mexico. Damage to equipment was limited to a pump, a generator power source to the pump and associated electrical equipment. Marlin will need to rebuild certain damaged water diversion channels in preparation for next year’s rainy season. All costs associated with the equipment losses, property remediation and business interruption are expected to be covered by our insurance claim.
Industrias Peñoles, S.A.B. de C.V. informa que en relación a la contingencia por inndación que se presentó el pasado 1° de eneero en la mina Naica, Después de más de nueve meses de esfuerzos exhaustivos sin lograr abatir de manera sostenida el agua hasta el nivel necesario para desarrollar alternativas que permitieran reanudar su explotación, ha decidido suspender por tiempo indefinido las actividades de esta unidad minera por causa de fuerza mayor.
Kootenay Silver Inc. is pleased to announce that it has optioned its Cervantes Gold/Copper project located in Sonora, Mexico to Aztec Metals Corp. Cervantes is a Gold/Copper Porphyry prospect located approximately 50 km northeast of the Company’s Promontorio Silver resource in Sonora, Mexico, which based on geologic observations, the Company believes has potential for hosting leachable gold resources. The project is the result of Kootenay’s generative program and was staked through its wholly owned Mexican subsidiary, Minera J.M.
AuRico Metals Inc. today announced that Scott Perry has resigned from his position as executive Chairman, as he takes on the CEO role with a large gold mining company. Mr. Perry will remain a member of the AuRico Metals Board of Directors. Richard Colterjohn, previously an AuRico Metals Director, has been appointed non-executive Chairman of the Board.
DynaResource de Mexico SA de C.V., the 100% owner of the San Jose de Gracia Project, located in the County of Sinaloa de Leyva, State of Sinaloa, Mexico, announces that it has been awarded in excess of $48 M USD in damages from Goldgroup Resources Inc. on October 05, 2015, by virtue of a Sentencia Definitiva issued by the Thirty Sixth Civil Court of the Superior Court of Justice of the Federal District of Mexico (Tribunal Superior de Justicia del Distrito Federal), File number 1120/2014. The Definitive Sentence included the considerations and resolutions by the Court, and in addition to the Goldgroup Damages, additional Resolutions were also ordered in favor of DynaMexico.
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