Day: June 8, 2016

Wealth Closes Financing of $2,000,000

The net proceeds from the Placement are intended to be used to fund the costs related to the ongoing discussions with Li3 Energy, Inc. pursuant to the letter of intent with Li3 announced on February 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 work programs on the Company’s existing mineral properties and for general and administrative expenses and working capital.

Torex Pours 29,995 Gold Ounces in May and 92,460 Ounces YTD Aided by a Positive Reconciliation Against the Geological Model

Fred Stanford, President Anchor& CEO of Torex stated: “The team on site continues to deliver excellent safety and environmental performance, and to exceed production expectations. In May they routinely operated the processing plant at design throughput levels and produced 29,995 ounces of gold, or 1,000 ounces per day. The Guajes deposit has also exceeded the expectations of the geological model, in both grade and tonnes. We have now processed over one million tonnes through the plant and can compare what the plant received against what was predicted by assays from blast-hole samples, and from there relate through to the geological model. In summary, since the plant was ‘bedded down’ at the end of February, when data became reliable, the plant has received 12% more gold ounces than was predicted by the geological model. Of this 12% increase in gold ounces, ‘10’ came from increased grade, and ‘2’ came from increased tonnage. Skarns are known to be variable and there is no reason to expect that this one will be any different; however, it is encouraging to note that as we work deeper into the Guajes deposit the positive reconciliation has strengthened. In conclusion, a big “thank you” to all Torex/MML teams, for their consistent performance in turning intentions into reality.”

Exploration Resumes on High Grade Epithermal Vein Field at Cerro Cascaron

“The Cerro Cascaron project is an indication that the mineral endowment in Mexico continues to produce untested high quality exploration targets,” commented Alain Charest, Evrim Resources’ Vice President Exploration for Mexico. “In six months Evrim’s exploration team has transformed Cerro Cascaron from an unexplored concession to a highly prospective low sulphidation epithermal gold target.”

Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

All News

Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.