Month: March 2016

Southern Commences 2016 Exploration Program At Cerro Las Minitas

Southern Silver Exploration Corp. continues to advance the Cerro Las Minitas project with the approval of a 2016 Phase I Exploration Budget and receipt of US$750,000 in funding from Electrum Global Holdings L.P., which is financing a broad range of exploration activities to earn a 60% interest in the project. Crew mobilization is underway with work on the property expected to begin in the first week of April.

Excellon Announces $3,000,000 Investment by Eric Sprott

Excellon Resources Inc., Mexico’s highest grade silver producer, is pleased to announce a non-brokered equity private placement in the Company by Eric Sprott for gross proceeds of C$3,000,000 through the issuance of 6,666,667 units at a price of $0.45 per unit. Each Unit will consist of one common share and one half-share purchase warrant of the Company. Each full Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.65 per share for a period of 24 months from the closing date.

Realizan marcha en Zanatepec contra proyectos mineros

Integrantes de unas cuatro organizaciones civiles de Chiapas y Tabasco realizaron este miércoles una marcha en Santo Domingo Zanatepec, en la región del Istmo, en apoyo de quienes se oponen al proyecto minero concesionado por la federación a la empresa canadiense Minaurum Gold Inc en esa localidad.

Alix Increases Financing

ALIX RESOURCES CORP. announces that it is increasing the non-brokered private placement announced on February 10th, 2016 from four million units to ten million units at a price of $0.05 per Unit for aggregate gross proceeds of $500,000. Each Unit will be comprised of one common share and one Share purchase warrant of the Company. Each Warrant entitles the holder to purchase an additional Share at a price of $0.075 per Share for a period of 12 months. Proceeds from the Offering will be used for general working capital and to advance the Company’s Lithium concessions located in Sonora, Mexico.

Timmins Gold Updates San Francisco Technical Report

Timmins Gold Corp. is pleased to announce an updated National Instrument 43-101 Technical Report for its San Francisco Gold Mine in the state of Sonora, Mexico, prepared by Micon International Limited. The San Francisco Gold Mine is comprised of the San Francisco deposit and the La Chicharra deposit. The report was previously updated as of December 15, 2013. This update incorporates production depletion from the date of the last report, production / confirmation drilling and an update to the resource and reserve assumptions, primarily a lower gold price assumption (Reserves at $1,100/oz gold, Resources at $1,200/oz gold). The update also includes a maiden resource for the San Francisco underground. All figures quoted below are in US Dollars.

MAG Silver Reports 2015 Annual Results

MAG Silver Corp. announces the Company’s audited consolidated financial results for the year ended December 31, 2015. For details of the consolidated financial statements, Management’s Discussion and Analysis, Annual Information Form and Annual Report on Form 40-F for the year ended December 31, 2015, please see the Company’s filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). All amounts herein are reported in United States dollars unless otherwise specified.

Colibri Announces Drilling on Pitaya Claims

Colibri Resource Corporation is pleased to announce that their joint venture partner, Agnico Eagle Mines Limited, has informed them that they are planning to drill the Pitaya joint venture property located in Sonora, Mexico. In the Joint Venture, Agnico Eagle holds a 58.84% interest and Colibri holds a 41.16% interest in the Pitaya property.

Odyssey Marine Exploration Reports Fourth Quarter and Full Year 2015 Results

“Following a productive fourth quarter in 2015, we believe this year is off to a great start with positive developments already coming to fruition. As we continue to await the approval of our ‘Don Diego’ environmental permit, the MINOSA team’s ongoing cooperation and support, in conjunction with the recent agreement with Epsilon, reinforces our belief that MINOSA is the right partner for Odyssey’s offshore mineral exploration business,” said Mark Gordon, Odyssey chief executive officer and president. “Additionally, we recently regained compliance with NASDAQ’s continued listing requirements.”

Americas Silver Corporation Announces San Rafael Pre-Feasibility Study, Updates to Resources and Reserves, and Fourth Quarter and Year-End Results

“Throughout 2015, we continued to reduce costs while increasing silver-lead production and mine efficiency,” said Americas Silver Corporation President and CEO Darren Blasutti. “At the end of March, our operations were on track to deliver on our production guidance and cash costs of $9.00 – 10.00 and all-in sustaining costs of $11.75 – 12.75 per ounce for 2016. We are also excited about the results of our San Rafael pre-feasibility study and maiden reserve estimate. At current prices, it has a pre-tax IRR of 27% and attractive economic upside through conversion of the existing resource to reserve, as well as resource addition from exploration once underground access has been established. We are starting small with initial capital estimates of approximately $22 million to get into production. The project is expected to produce 5.5 million ounces of silver, 254 million pounds of zinc and 97 million pounds of lead over an initial reserve life of 5.5 years at negative silver all-in sustaining costs.”

Mexus appoints Director of Operations, Mine Superintendent, and a Mining Plan for their Santa Elena Project

Mexus Gold US today announced the appointment of Geologist Cesar Lemas as Director of Operations (DOO). Mr. Lemas is a graduate of the University of Arizona with a Masters in Mineral Economics. His experience is vast and includes geological exploration, mine-project valuation and development, geophysics, geochem, metallurgy, mine design, mineral processing, and dry desert placer mining and development. CEO Paul Thompson added, “Cesar Lemas is the perfect person to help Mexus bring its Santa Elena project into production. His knowledge of our property matched with his experience will prove invaluable moving forward.”

Sierra Metals Reports Fourth Quarter and Year-End 2015 Financial Results

Mark Brennan, President and CEO of Sierra Metals commented: “Sierra had a very strong start in 2015 with record production, throughput and strong cash flows. However, the latter part of 2015 has been challenging with weaker financial and production results as a result of lower metal prices and the introduction of important operational improvements, primarily at the Yauricocha Mine. These changes and improvements have temporarily impacted production levels but aim to structurally improve our operations and production capabilities for the longer term.”

Kootenay Silver Acquires NSR from Coeur Capital on La Cigarra Project

Kootenay Silver President and CEO James McDonald stated “We are very pleased to have the opportunity to consolidate the ownership of the royalty at this time. Given our belief in La Cigarra’s silver resources and the potential for additional discoveries the opportunity to repurchase the royalty is beneficial to the project.”

Cyprium Mining retains Imdex/Cascabel as technical advisors for Potosi silver mine project

Cyprium Mining Corporation is pleased to announce that it has engaged International Mineral Development and Exploration Inc./Compañia Minera Cascabel S.A. de C.V. as technical advisors for the development and exploration program at the Company’s Potosi silver mine located in the historic Santa Eulalia mining district located in the State of Chihuahua, Mexico. IMDEX-Cascabel is led by Dr. Peter Megaw, who is considered an expert on Carbonate Replacement Deposits (CRDs) of which the Santa Eulalia mining district is historically considered the world’s largest example. His doctoral work at the University of Arizona was a comprehensive study of the district and he is very familiar with the Potosi Mine.

GoGold Resources Inc. Announces Results of Annual and Special Meeting

GoGold Resources Inc. is pleased to announce that at the annual and special meeting of shareholders held on March 24, 2016, the shareholders re-elected Terence Coughlan, Phillip Gaunce, George Waye, Terrence Cooper and Dana Hatfield as directors of the Company for the forthcoming year. Each director was elected by a majority of the shareholders on a show of hands and the table below presents the votes represented by proxy in respect of the election of each director:

Confirman muerte de seis en desplome de aeronave

La Fiscalía General del Estado (FGE) y autoridades del estado de Sinaloa, confirmaron ayer el desplome del aeronave tipo Cessna 206, con número de matrícula XBM-FY, que despegó el pasado martes del municipio de Angosturas, Sinaloa y cayó en la sierra de Mocorito, Sinaloa, con saldo de seis personas fallecidas.

Aura Minerals Announces Fourth Quarter and Year End 2015 Financial and Operating Results

Jim Bannantine, the Company’s President and Chief Executive Officer stated “I am extremely proud of what Aura has achieved in 2015 and into the early part of 2016. 2015 certainly presented challenges operationally, technically and in the commodity markets and the Company has met those challenges as well as revised cost and production targets. We have focused on increasing cash flow optimization from our operating gold assets at San Andres and Sao Francisco and where necessary, internally re-organized and re-strategized to successfully continue servicing our debt burden and maintain our interests in our Aranzazu and Serrote copper projects.

Colibri Announces Extension to its Financing

Colibri Resource Corporation is pleased to announce that it has obtained an extension to close its non-brokered private placement financing to raise gross proceeds of up to $80,000. Final materials will then be due on or before April 25, 2016. No further extensions will be possible.

Timmins Gold Issues Statement Required by NYSE MKT Section 610(b)

Timmins Gold Corp. announced, pursuant to disclosure requirements of NYSE MKT Company Guide Section 610(b), that its audited consolidated financial statements for the year ended December 31, 2015, which was filed with the Securities and Exchange Commission on March 16, 2016, contained an audit opinion from its independent registered public accounting firm that includes an explanatory paragraph related to the Company’s ability to continue as a going concern.

Excellon Reports 2015 Annual and Fourth Quarter Financial Results

“During 2015, we laid the groundwork for a return to high grade and low cost production at Platosa,” stated Brendan Cahill, President and Chief Executive Officer. “Despite challenging commodity and equity markets and operating conditions, we enhanced our board and management team, developed a plan to comprehensively solve Platosa’s water issues and arranged the financing to commence this optimization program. Operating costs per tonne were reduced by almost 30% from 2014, even while mining less tonnage in 2015, and corporate G&A was reduced below 2005 pre-production levels. Additionally, we continued to see the benefits of long term dewatering efforts at Platosa, with 2015 development supporting access to the Rodilla Manto in late February 2016, seven months ahead of schedule. With access to Rodilla and the optimization program underway, we expect to see improving rates of production and ore grades through the course of this year.”

Wealth Arranges $1,600,000 Non-Brokered Private Placement and Negotiates Debt Settlements

The net proceeds from the placement are intended to be used to finance the costs related to the continuing discussions with Li3 Energy Inc. pursuant to the letter of intent with Li3 announced on Feb. 1, 2016, including to carry out and complete the required due diligence on Li3 and the Maricunga lithium project, for the review and assessment of additional potential lithium mineral property acquisitions and the negotiation of related formal documentation for any such acquisition(s), for property payments, and for general and administrative expenses and working capital.

Fortuna Updates Reserves and Resources

Jorge A. Ganoza, President and CEO, commented: “Our combined Proven and Probable Reserves have been negatively impacted by a forty-one percent net decrease in silver ounces at our Caylloma mine; primarily as a result of updating geologic models, depletion, changes in commercial terms, and applying a higher cutoff and dilution to narrow silver rich veins. At San Jose, silver and gold reserves are essentially flat with respect to 2014, after successfully replacing the depletion of 4.9 million silver ounces and 38,500 gold ounces for the year.”

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