Month: April 2016

Brad Langille, CEO of GoGold stated, “We are deeply saddened by this accident and extend our sincere condolences to the family of the deceased. The health and safety of all personnel on site is our highest priority.”

“Primero invested a significant amount of time and resources during the first quarter to create a transformational shift in attitude towards achieving a workplace free of accidents. The safe operation of our two mines is our top priority and while we are encouraged to see a transformation, we know we must remain vigilant,” stated Ernest Mast, President and Chief Executive Officer. “Although production was well below our original expectations during this implementation period, we are committed to getting our operations up to full capacity as quickly as possible. We have a strong operational plan at San Dimas to deliver planned throughput rates with the more stringent ground control conditions for the remainder of 2016. During April, the mine has operated at production rates greater than the nameplate 2,500 tonnes per day. …”

“In Q1 2016, we again saw the upside potential of Platosa’s exceptionally high-grade massive sulphide mantos and began to see further material benefits from our long-term dewatering efforts,” stated Brendan Cahill, President and Chief Executive Officer. “In late February, we accessed the Rodilla Manto, approximately seven months ahead of schedule as we encountered mineralization outside of the Platosa resource block model and dry mining conditions facilitated rapid development. A significant amount of this ‘bonus’ mineralization was ultra high grade, with approximately 1,600 tonnes of ore produced from Rodilla during March grading over 1,000 g/t Ag, 10% Pb and 10% Zn. This ore was blended with lower grade and low-cost stockpiles to improve mill recoveries and concentrate payability. We are currently developing into the next level of the Rodilla Manto and expect the continuing optimization program at Platosa to deliver further operational improvements as the year progresses.”

Wealth Minerals Ltd. announces that, on April 14, 2016, it closed the settlement of $687,000.00 in debt related to certain accounts payable to Cardero Resource Corp. and a portion of the principal sum of certain outstanding loans originally made to the Company in 2011. The Company issued 2,000,000 common shares at a deemed price of $0.21 in settlement of such debt. The common shares issued have a hold period in Canada expiring on August 14, 2016.

BACANORA MINERALS LTD. is pleased to provide an update regarding its recent and forthcoming activities at the Sonora Lithium Project in northern Mexico.

Quaterra Resources Inc. today announced that Gerald Prosalendis, a current consultant of the Company, has been named President and Chief Operating Officer, effective immediately. To accommodate this appointment, Thomas Patton has resigned as President while retaining the positions of Chairman and Chief Executive Officer.

Pete Dougherty, President and CEO, stated: “First quarter 2016 GEO production was in line with guidance at El Castillo, exceeded guidance at La Colorada and showed a 6% improvement over the fourth quarter of 2015 yielding 32,154 GEOs, primarily as a result of increased crusher throughput at La Colorada. As we look toward the second quarter of 2016, we anticipate further advancement in crusher throughput. Moreover, we continue to advance our development projects and capital programs including being on schedule with leach pad construction at La Colorada.”

DynaResource, Inc. is pleased to announce that Mineras de DynaResource S.A. de C.V., the 100% owned subsidiary of DynaUSA and the exclusive operator of the San Jose de Gràcia Property in northern Sinaloa, México, is reporting the deliveries for sale, on March 21 and April 11, 2016, of an approximate 700 Oz gold contained in concentrates (exact weights in gold and silver oz. to be determined at final settlement).

“The Company’s strong performance in the first quarter is primarily due to higher production at the La Encantada and Santa Elena mines,” said Keith Neumeyer, President & CEO. “Over the past two quarters, our team has been diligently integrating Santa Elena’s previous operating systems into the First Majestic operating model and we are seeing increased production and improved efficiencies as a result. Also, at each operation we are achieving great strides due to initiatives put in place and implemented over the past two years.”