Month: December 2016

Tawn Albinson, the President of Prospero said: “La Florida has been on our watch list since 2011. Our staking program there is a reflection of Prospero’s renewed commitment to its shareholders to aggressively pursue promising properties and build a first class portfolio of early stage projects for potential joint venture.

“Our divestment of 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. This strategic decision will allow the Company to further de-lever its balance sheet and accelerate our growth at the Veta Grande Project located in one of Mexico’s most recognized silver districts,” stated Arturo Prestamo, President and CEO. “The Company’s focus in 2017 will be to further optimize the operations at our two producing mines with the goal of increasing production levels and reducing costs.”

Since the Board approval announced in September 2016, the Project continues to advance toward commercial production targeted in Q3 2017. Primary ramp development is advancing on schedule with approximately 25% completed and the Project received delivery of its new mobile equipment, including a new scoop and bolter. Progress is also being made in the refurbishment of other equipment transferred from the Nuestra Señora mining operations. The electrical substation has been energized and water storage facilities have been constructed. Please see the Company’s website at www.americassilvercorp.com for photos updating the Project’s status.

The Project configuration evaluated in the PFS is an owner-operated 790 tpd underground mine that will utilize overhand cut and fill mining with conventional mining equipment in a blast/load/haul operation. Mill feed will be processed in a 550 tpd comminution circuit consisting of primary and secondary crushing, grinding in a single ball mill followed by three floatation circuits producing lead, copper, and zinc concentrates. The concentrates will be trucked from site for smelting and refining.

Our earlier exploration illustrated that the Aida claim was at the center of the expanding Cordero resource, and that with additional drilling to focus on the higher grade mineralization that is evident in the dome, and potentially expand the resource, we could optimize the modeled open pit and improve our economic modeling for a mining operation. Our exploration team has just returned from Cordero and has spotted 28 holes for higher grade mineralization potential. The Company intends to pursue this exploration next year, once we see the price of silver move up in a sustained and positive way.

Canasil Resources Inc. announces that Orex Minerals Inc. has filed with the System for Electronic Document Analysis and Retrieval a Technical Report in accordance with the rules of National Instrument 43-101 for the first Inferred Resource Estimate on the Boleras Silver Deposit at the Sandra-Escobar Project in Durango, Mexico. The project is being advanced by Orex under an option agreement with Canasil announced on September 15, 2015.

“We are pleased to be the first hardrock mining company to achieve certification under the CORESafety system,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “This significant achievement is made possible by a commitment to safety exhibited at every level of our workforce, from the miners to site management and beyond.”

Orex has drilled 8,372 metres in 62 diamond drill holes in the southeastern region of the project. The first 59 diamond drill holes formed the basis for an initial resource estimate on the “Boleras Silver Deposit.” At a “Base Case” of 45 g/t Ag cut-off, the Inferred Resource Estimate yielded 9.8 million tonnes grading 106 g/t Ag for a total of 33.3 million ounces of silver.