Month: December 2016

Primero Receives NYSE Notice

Primero Mining Corp. today announced that is has received formal notification from the New York Stock Exchange of its non-compliance with the exchange’s continued listing standards for minimum trading price.

Riverside Resources Provides 2016 Year In Review

President and CEO, John-Mark Staude, stated: “We are pleased with the progress of our Prospect Generator business and excited at the prospects for a new discovery and further value creation and portfolio strengthening in 2017. The Thor, Glor and Clemente projects will all deliver partner funded activity, with results from at least two drill programs in the year ahead. We will layout our goals early in 2017 and have the team in place pushing for transformational mineral discoveries. Riverside is in a much better place entering 2017 than a year ago and we are keen to capitalize on the momentum with several catalysts early in 2017.”

Santacruz Silver Terminates San Felipe Project Sale

Santacruz Silver Mining Ltd. reports that it has terminated the previously announced agreement in connection with the Company’s sale of the San Felipe Project to the Hermosillo Group. No payments pursuant to the Transaction have been made to date. Discussions have been on-going with respect to revised payment terms however this process has not led to a payment schedule acceptable to the Company and therefore the agreement has been terminated by the Company.

Almaden Drills Further New High Grade Mineralisation Within and Outside Amended Pea Pit, Hits 30.35 Meters of 1.92 g/t Gold, 62.1 g/t Silver and 8.50 Meters of 2.56 g/t Gold and 357.0 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, this exploration drilling demonstrates additional resource potential both laterally and, because we are at the top of a fully preserved epithermal system, future exploration drilling will also test for feeder veins beneath the Ixtaca sheeted vein zone.”

Sonoro Closes Sale of Chipriona to Agnico Eagle

Sonoro Metals Corp., is pleased to announce that it has closed the sale of the Company’s Chipriona project in Mexico to Agnico Sonora, S.A. de C.V., a subsidiary of Agnico Eagle Mines Limited; the details of which are disclosed in the Company’s news release dated December 14, 2016. Sonoro has now received the first payment under the assignment agreement with Agnico in the amount of $650,000. Three additional sequential installments of $650,000, $800,000 and $1,900,000 respectively are due and payable over the coming months following registration of title at Mexico’s Public Registry of Mining, commencing with the registration of title from the original vendors through to final registration under Agnico. This disposition by the Company has been accepted for filing by the TSX Venture Exchange.

Americas Silver Corporation Announces Share Consolidation Towards U.S. Exchange Listing

Americas Silver Corporation is pleased to report that shareholders have approved a special resolution for an amendment to the Company’s articles and authorized a consolidation of the Company’s outstanding common shares. The resolution was approved by over 95% of votes cast at the meeting. The Share Consolidation is necessary to satisfy one of the outstanding listing requirements for the New York “NYSE MKT” Stock Exchange of a share price of US$2.00 or greater. Further details are provided in the Company’s management information circular dated November 10, 2016.

Authorities Request the Instalation of C-4 in the Mountain Zone

In order to prevent criminal acts from prevailing in the municipality of Guadalupe and Calvo, local authorities requested the installation of a C-4 and the integration of detachments of the State Police in Baborigame and San Julián, areas that have historically been controlled by Organized crime.

Avino Silver & Gold Mines Announces Results From Its Current Exploration Drill Program Between The San Luis Workings And Elena Tolosa Workings At The Avino Mine

The current drill program commenced in September, 2016, and comprises 18 holes in total, for a total of 2,955 metres. Eleven of the holes have been drilled to date, and eight have been assayed. The objective of this program is to explore the area of the Avino Vein System between the San Luis workings and the Elena Tolosa current production area.

Canasil Mobilizes Drill and Starts Drill Program At the La Esperanza Silver-Lead-Zinc Project in Durango and Zacatecas States, Mexico

Canasil Resources Inc. is pleased to announce that the Company has received the required drill permit and mobilized a drill rig which is currently on site at the La Esperanza silver-lead-zinc project in Durango and Zacatecas States, Mexico. Drilling started on December 17, 2016, with the aim of completing the first drill hole before the year-end holidays. Drilling will then resume early in the New Year for a planned initial program of 1,500 metres to 2,000 metres in 4 to 5 drill holes.

Golden Minerals Announces US$5 Million At-the-Market Offering

Golden Minerals Company has entered into an At-the-Market Offering Agreement dated December 20, 2016 with H.C. Wainwright & Co., LLC as sales manager. Under the terms of the ATM Agreement, the Company will be entitled to sell, at its discretion and from time to time, shares of its common stock through Wainwright, with such sales having an aggregate gross sales price of up to US$5.0 million.

Excellon Strengthens Board with New Appointments

Excellon Resources Inc., Mexico’s highest grade silver producer, is pleased to announce the appointment of Ms. Daniella Dimitrov and Dr. Laurence (Laurie) Curtis to its Board of Directors.

Arian Silver – Two major vein systems identified at Los Campos project

Jim Williams, Chief Executive Officer of Arian commented: “We are pleased that our preliminary exploration work has identified several high-quality targets at Los Campos, where evidence of the presence of two major vein systems has been identified. The Board is confident its exploration properties have the potential to host significant mineralisation.

Bacanora Announces Off-Take Negotiations and Project Update

BACANORA MINERALS LTD., the Canadian and London listed company focused on developing the Sonora Lithium Project in Mexico into a world class lithium carbonate operation, announces that it is continuing to develop a long term marketing relationship and off-take strategy and is now in advanced discussions with a significant Asian offtake partner for the supply of battery grade lithium carbonate (Li2CO3).

New Gold Announces Senior Management Changes

New Gold Inc. is pleased to announce that Hannes Portmann has been named President of New Gold. Randall Oliphant will continue in his role of Executive Chairman and Brian Penny will continue as Executive Vice President and Chief Financial Officer. David Schummer, Executive Vice President and Chief Operating Officer, is leaving New Gold and Raymond Threlkeld, currently a member of the company’s Board of Directors, will become Interim Chief Operating Officer.

Arian Silver – Extension of Exclusive Option

Arian Silver Corporation is pleased to announce that further to the Company’s press release dated 27 October 2016 regarding the extension of the exclusivity agreement with Tierra Nuevo Mining Ltd over the Noche Buena gold and silver tailings project in Mexico, the period of exclusivity has been extended by a further 60 days to 25 February 2017 at no additional cost whilst the final results of metallurgical testwork are awaited.

Back-In Right Notice on Alacrán Project

Azure Minerals reports that it has been advised by Minera Teck S.A. de C.V., ultimately a 100% owned subsidiary of Teck Resources Limited, Canada’s largest diversified resource company, that Teck intends to exercise its right to earn back an ownership interest in the Alacrán Project in Mexico.

GoGold Announces Revenue of $16.7 Million with Net Operating Income of $943,000

GoGold Resources Inc. is pleased to announce the release of financial results for the quarter and year ending September 30, 2016 with an operating income of $943,000 for the year (All amounts are in U.S. dollars). GoGold recorded revenue of $16.7 million from the sale of 640,121 silver ounces and 5,533 gold ounces during the year.

Red Tiger Provides Operational Update

Red Tiger Mining Inc. announces that it has ceased mining operations at Luz del Cobre copper mine. The Company has made this decision after completing an infill drilling program designed to better delineate the oxide-sulphide copper boundary in North and South pits.

Argonaut Gold Denied Environmental Permit for its San Antonio Project

Pete Dougherty, President & CEO stated: “We are disappointed with SEMARNAT’s decision. We will review the factors that led to this decision and determine a path to move this project forward. San Antonio is a project that can have significant benefits to the local and regional economy and also provide important positive impacts to the environment. Our plan calls for a modern approach to mining including cleaning up historical overburden stockpiles and tailings and working to improve the local aquifer. We continue to believe that San Antonio remains one of the best undeveloped projects in the sector and we will continue to seek ways to unlock the benefits and value of this project for the local communities and for our shareholders.”

GOLDEN MINERALS PROVIDES EXPLORATION PROPERTIES AND VELARDENA UPDATE

Performing additional metallurgical testing at Santa Maria, prior to completing an updated resource estimate and issuing a Preliminary Economic Assessment in the first quarter 2017 Completed a 2,080-meter drill program at the Rodeo project during the fourth quarter 2016; results to date are encouraging and a resource estimate is in preparation for release in Q1 2017 Lease of Velardena’s oxide mill to Hecla Mining continues to perform as expected, with net cash of $4.5 million expected for the full year 2016; Hecla has exercised its option to lease the mill through mid-2017 and has the right to extend the lease through 2018

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