During Q4, a total of 77,279 tonnes were milled at an average grade of 2.00 g/t gold and 19 g/t silver resulting in the production of 4,694 gold equivalent ounces. Mill recoveries averaged 86.9% for gold and 57.4% for silver. Equivalent gold ounce calculation is based on the actual daily average gold:silver ratio of 73.01 during the quarter.
In October 2014, as a result of a review of its disclosure record as of that date by staff of the British Columbia Securities Commission, War Eagle concluded that clarification of certain aspects of its previous disclosure is required to clarify prior disclosure made by it respecting mineral properties then held by the Company in Mexico and Canada. This was in reference to previous Company statements related to the Tres Marias former producing zinc-lead-germanium mine in Chihuahua, Mexico, and the MAC rare earth exploration project in the Northwest Territories, Canada. Since that disclosure was made the Company has disposed of the Tres Marias mine and has dropped the MAC claims.
Catalyst Copper Corporation announces a private placement of $300,000 with Mr. Richard Warke, President and CEO and a director of the Company and Mr. Frank Giustra, a director of the Company.
Minera Alamos Inc. outlined today its near-term objectives for the development of its Los Verdes copper-molybdenum project in Sonora, Mexico. As previously reported, the Company is in the process of moving towards a production decision, targeting project construction to commence in 2016. Minera Alamos intends to issue an updated Preliminary Economic Assessment prior to the end of the year.
“Avino is pleased to report another successful quarter of financial and operational results. We have maintained an efficient cost structure while advancing and expanding our operations. Our low all-in sustaining consolidated cash costs of $11.72 per AgEq is consistent with previous quarters and we continue to review opportunities to further reduce costs and improve efficiencies. Softer metal prices continue to present challenges however our strong financial and operational condition, and the recent receipt of $US10 million prepayment from Samsung, has well positioned the Company to advance and meet its objectives. ” stated Malcolm Davidson, CFO.
Endeavour Silver Corp. announces that drilling on the Bolanitos property in Guanajuato State, Mexico has intersected high grade, gold-silver mineralization within three historic veins, San Ignacio-San Miguel, La Joya and Gabriela. Gabriela mineralization is adjacent to historic mine workings that are readily accessible for development.
Mexus Gold US announced that it has received an update from Argonaut Gold Inc. on the Julio Project. Since acquiring the Julio project in early July, Argonauts focus has been on detailed geologic mapping and sampling within areas already known to host mineralization which has included identifying outcropping mineralization. Argonaut has taken surface rock chip samples and completed detailed mapping. This work has identified multiple target areas which are being prioritized for drilling which, subject to permitting, is expected to commence later in 2015.
Avino Silver & Gold Mines Ltd. is pleased to report that further to the Company’s press release dated July 9, 2015, the Company has closed the concentrates prepayment agreement with Samsung C&T U.K. Ltd. for USD $10 million, and has received the prepayment amount from Samsung.
Gerald Metals S.A. has acquired the Senior Loan and will provide Red Tiger with an additional US$1.5 million working capital facility;…
Commenting on the Companys first full quarter of commercial production results, Terry Coughlan, Chief Executive Officer said, We are very pleased that the Parral heap leach facility has generated positive cash flow from operations since its second month of operation. In this lower than expected metal price environment we are very fortunate to be producing silver at a cost of $5.54 per silver equivalent ounce, which is one of the lower cost silver producers in Mexico.
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