Month: November 2016

Source Exploration Closes First Tranche of Non-Brokered Private Placement

Source Exploration Corp. is pleased to announce that it has closed a tranche of its previously announced non-brokered private placement consisting of 5,192,500 units of the Company at a price of $0.15 per Unit for gross proceeds of $778,875. Each Unit consisted of one common share of the Company and one transferable common share purchase warrant. Each Warrant entitles the holder to purchase one Common Share at a price of $0.25 per Common Share until November 30, 2018 (subject to acceleration of the expiry date as described below).

Alset Updates Progress on Re-Sizing Concessions and Drilling Permits

Allan Barry Laboucan, President and CEO of Alset Energy said: “One of our near-term project initiatives of re-sizing the concessions is well underway. With our largest concession completed, we can now continue with the reduction followed by splitting into smaller parcels of Sutti 22 as it remains advantageous and cost effective to do so. We are progressing expeditiously with our ongoing drill permitting and we are awaiting results from the laboratory for samples recently submitted that will provide us with insight into grade and recovery of lithium.”

Santacruz Silver Reports Third Quarter Financial Results

“Although the production rate at the Rosario Mine decreased during the quarter due to some structural complexity and narrower veins at depth in the Rosario Mine, our mining costs were nonetheless in line with recent quarters. In addition, the mineralized material to be shipped from the Cinco Estrellas property to the Rosario mill facility contains higher gold grades relative to the Rosario Mine’s historical grades with the effect that gold will now represent a substantial revenue driver at the Rosario Mine,” said Arturo Préstamo, President and CEO. “The impairment charge against the San Felipe Project is the result of an internal analysis that identified the property as being a non-core asset at this time in light of the opportunity that exists at the Company’s recently established operating base in Zacatecas, Mexico.”

Red Tiger Reports Quarter Ended September 30, 2016 Results

Red Tiger Mining Inc. today reported its financial and operating results for the three and nine months ended September 30, 2016. This press release should be read in conjunction with the Company’s unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2016 and Management’s Discussion and Analysis for the corresponding period, available on the Company’s website at www.redtigermining.com and on SEDAR at www.sedar.com.

Almadex Options Los Venados Project to Wolverine Minerals Corp.

Almadex Chairman, J. Duane Poliquin commented, “At the beginning of this year, we anticipated drilling several of our projects, including Los Venados, but our success at El Cobre has dictated that we change plans and focus our technical resources there. In that context we are pleased to option Los Venados to a group which is keen to advance the project through drilling.”

Almaden Drills Further New High Grade Mineralisation Within and Outside Amended PEA Pit, Hits 15.80 Meters of 4.31 g/t Gold, 98.0 g/t Silver and 14.20 Meters of 3.08 g/t Gold and 161.2 g/t Silver

J.D. Poliquin, chairman of Almaden stated, “Today’s results once again show the presence of the high grade veins on the Tuligtic project. While we are now focussed on developing the Ixtaca deposit into a significant precious metals producer in Mexico, and are currently busy with engineering work and studies towards producing a PFS, we are also conducting exploration drilling to test for additional resource potential.”

Dr. Stewart Jackson and Mr. Ralph Stricklen Join Hawkeye Team

HAWKEYE Gold & Diamond Inc. is pleased to announce that Dr. Stewart Jackson and Mr. Ralph Stricklen have agreed to join the Hawkeye team as geological, mining and milling Senior Technical Advisors providing the Company with years of significant knowledge and experience which will be invaluable as the Company advances its projects.

Timmins Gold Files Amended Technical Reports

Timmins Gold Corp. announces that it has filed updated technical reports for each of the San Francisco Mine and Ana Paula Project. These reports were filed in connection with the financing announced on November 10, 2016 and include disclosure intended to bring the reports into compliance with National Instrument 43-101. The estimates of mineral reserves and resources contained in the previous versions of the technical reports have not changed and in the Company’s view, none of the changes made in either technical report are material to the assets or operations of the Company.

Avino Announces Closing of Bought Deal Offering

Avino Silver & Gold Mines Ltd. further to the Company’s press release dated November 21, 2016, the Company is pleased to announce that it has closed the bought deal financing with Cantor Fitzgerald Canada Corporation, as sole bookrunner, and Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, as lead manager, Euro Pacific Capital, Inc., Roth Capital Partners, LLC, Echelon Wealth Partners Inc. and Haywood Securities Inc., as co-managers, for the issuance of 7,124,430 units of the Company at the price of US$1.57 per Unit for aggregate gross proceeds of US$11,185,355.10 in Canada and the United States of America. Each Unit consisted of one common share of the Company and one-half of one common share purchase warrant. Each whole Warrant is exercisable to purchase one additional Common Share at an exercise price of US$2.00, subject to adjustment, until November 28, 2019.

Invertirán firma canadiense 200 mdd en mina de Parral

El corporativo minero canadiense Endeavour Silver anunció el cierre de la adquisición de una mina con contenido de plata en Hidalgo del Parral propiedad de Silver Standard Resources Inc y la inversión de dos millones de dólares en exploración durante los próximos dos años.

Canuc Resources Corporation Receives Conditional Approval of Previously Announced Transaction from TSX Venture Exchange and Appoints New Chief Financial Officer

Canuc Resources Corporation is pleased to announce that the Company has received conditional approval from the TSX Venture Exchange for the reverse takeover transaction previously announced on August 29, 2016. The Transaction involves the combination of Canuc and Santa Rosa Silver Mining Corp. by way of an amalgamation of Santa Rosa and a wholly-owned subsidiary of Canuc, to form one company as a wholly-owned subsidiary of Canuc. Completion of the Transaction and the listing of the combined entity remains subject to a number of conditions including those imposed by the TSXV, which include receipt by the TSXV of satisfactory final documentation in respect of the Transaction, completion of a concurrent equity financing for minimum gross proceeds of $1.3 million and receipt by the Company of the written consent of the holders of more than 50% of the issued and outstanding common shares of the Company held by disinterested shareholders.

Silver Spruce Board Appoints New President, CEO and Director

Silver Spruce Resources Inc. is pleased to announce that its Board of Directors has approved the appointment of Karl J. Boltz as President and Chief Executive Officer of the Company. Mr. Boltz has also been appointed by the Board to serve as a Director of Silver Spruce.

Bacanora Announces Board Changes and Provides Corporate Update

BACANORA MINERALS LTD. – the Board of Bacanora, the Canadian and London listed company focused on developing the Sonora Project in Mexico, is pleased to announce changes to the composition of the Board. These are in line with the Company’s strategy to build a robust and independent Board with a complementary skill set to effectively facilitate the development of Sonora into a world class lithium carbonate operation.

Peñoles Desarrolla VI Simposium de Seguridad

En la ciudad de Zacatecas el director de la industria Fernando Alanís y Octavio Alvidrez de Fresnillo PLC, inauguraron las actividades donde participan 237 trabajadores de 16 secciones sindicales.

KOOTENAY ANNOUNCES NEW DRILL DISCOVERY PROXIMAL TO LA CIGARRA SILVER DEPOSIT; Multiple Intercepts of Silver Mineralization Confirmed Across 400-Meter Strike Length; Highlights Include 89.83 gpt Silver over 18.0 Meters; Including 190 gpt Silver over 3.0 Meters

Kootenay President and CEO James McDonald states, “Results from the first 11 holes of the program confirm RAM is an entirely new silver discovery and development of this mineralized structure will remain a top priority for the Company. The strength and consistency of veining within the structure bodes well for the discovery of further silver resources at depth and along both strike directions. Drilling returned good continuity of silver grades across a 400-meter strike length and widespread silver mineralization was encountered in all but two of the eleven holes, confirming the structure’s large-scale potential. Moving forward, the close proximity of the RAM structure to our established La Cigarra silver resource offers excellent potential for future shared infrastructure and economies of scale, as we continue to develop RAM and advance our main La Cigarra deposit towards the economic stage.”

Santacruz Silver Announces Additional Equipment Commissioning at the Veta Grande Mill

“The installation and commissioning of this equipment is part of our ongoing upgrade of the Veta Grande milling facility,” stated Arturo Préstamo, President and CEO of Santacruz. “As a result metal recoveries are now approximately 70% and 88% for silver and lead respectively reporting to the lead concentrate, with an additional approximate 14% recovery of silver to the zinc concentrate. We anticipate further increases in the silver recovery as we continue to fine-tune the system. Our next step is to begin work on fabricating and installing a zinc thickener and filter press of equal capacity which is scheduled for completion in Q1 2017.”

High Grade Silver Intercept Drill Result – Mojardina Prospect – Cuitaboca, Mexico

Drill assays from Hole 21 (RC16CT-21) has returned a high grade silver intercept from surface. This further enhances and confirms the continuity of the southern Loop mineralisation. At 35m width this intercept serves to define a confirmed high grade shoot within the broad and continuous mineralised structures of the Mojardina Loop.

VVC Announces Closing of a Debenture Placement

Jim Culver, President of VVC commented that, “We are very pleased at the market reception to the Company’s placement, and the commitment of our existing shareholders to supporting the Company. With the recent increases in the price of copper, VVC’s prospects, with the Samalayuca Copper Project look especially bright.”

Source Signs Agreement to Extend Las Minas Purchase Option Agreement

“I wish to thank the owners of the concessions for granting the extension of the option agreement and continuing strong support” said Brian Robertson, President and CEO of Source. “The extension, in conjunction with our previously announced proposed private placement and planned drilling program, will provide additional time for us to advance the property and complete a mineral resource estimate.”

Mexus Gold US releases an update on its Santa Elena mine

Mexus Gold US along with its JV partner MarMar recently decided that the best option for gold recovery at the Santa Elena mine will be a Merrill Crowe system. The decision to use this system instead of Electrowinning was made in part because a Merrill Crowe system will allow Mexus the opportunity to scale the recovery plant as production increases. Mexus now plans to ship a 400-600gpm Merrill Crowe plant from its Walnut Grove shop to the Santa Elena mine site. This plant was purchased by Mexus in 2014 and had been readied for use when needed. The recovery plant has been disassembled, loaded, and is ready to be shipped around November 27th.

IMPACT Silver Announces Third Quarter 2016 Financial and Production Results

Fred Davidson, President and CEO, stated, “IMPACT continues to focus its efforts on upgrading mining operations, improving efficiency, and sourcing superior grade feed from its mines in order to keep production economical and adapt to price fluctuations. Operationally, the Company continues to improve its mine operating income, achieving income of $1.6 million in the first three quarters of 2016 compared to a loss of $0.2 million in 2015. EBITDA improved 400% to $0.8 million in the first three quarters of 2016 from $0.02 million in 2015. The Company continues to achieve positive cash flows in each quarter of 2016. IMPACT is managing a lean operation during these challenging times in the mining industry. Our immediate goal is to enhance profitability in the next few quarters through: increasing our processing capacity, expanding our reserves, and carry out an exploration program which will include drilling a number of key targets.

Avino Announces Bought Deal Offering of US$10 Million

Closing of the Offering is expected to occur on November 28, 2016, subject to obtaining customary TSX.V and NYSE MKT approvals. The Company intends to allocate the net proceeds of the Offering to advance the exploration and development of the Company’s Avino Mine and the exploration and development activities on the Bralorne Mine Property in British Columbia, and for general working capital.

Coeur Completes $200 Million At-the-Market Common Stock Offering and Announces Partial Redemption of Its 7.875% Senior Notes Due 2021

“With the completion of our ATM equity offering and expected further reductions in our remaining debt levels, we plan to end the year with one of the stronger, more flexible balance sheets in the sector,” said Mitchell J. Krebs, President and Chief Executive Officer. “Following the completion of this partial redemption, our total debt will have declined by over 60% since the end of the third quarter 2015, translating to over $29 million in anticipated annual cash interest savings that will be invested in initiatives that will lead to high-quality future growth of our Company.”

Office: +52 (662) 688-5815

[email protected]

Sites of Interest

This new application brings the paper map online.

Up to date information of:

  • Resources.
  • Production.
  • Endowment.
  • Technical Reports.
  • Geology.
  • And More…

Check the Mining State Panoramas

The promotion and dissemination as essential elements to understand and disseminate our Mineral resources, that is why today it is pleased to make the document “Mining Panorama” available to society, by state.

Get to know GeoInfoMex in 3D

GeoInfoMex, is the consultation system of the Mexican Geological Service that allows users to know geoscientific information and make decisions with savings in time and resources, helping to promote mining activity.

 

México Minero is a non-governmental organization that promotes sustainable mining.

The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.

Learn about the current situation of the mining industry as well as the activities carried out by Camimex.

Mexico Mining Center © 2019 / All Rights Reserved