Month: December 2016

Since September 15th, when Marlin began consistently mining the high grade HS Zone, the Company has stacked 41,029 ounces of gold with 21,567 coming in November alone. The tonnes stacked in November had an average grade of approximately 5.26 grams per tonne. In addition, Marlin has built up an over 75,000-tonne stockpile of mineralized material at similar grades waiting to be crushed and stacked onto the leach pad.

The alkaline leach plant in Mexico has been installed, tested, and recoveries are now being verified. Approximately 19.8 metric tons of concentrates from previous milling will be processed during December and the beginning of 2017. Answers to questions from our original application for the cyanide permit to leach the mill tailings have been submitted to SEMARNAT, and the permit is being vigorously pursued. Previously mined mill feed from a 19,000 metric ton stockpile at the Los Juarez property will be hauled to the mill in Guanajuato. The flotation mill will be started during Q1 2017. Mining at greater depths in the pits and in close proximity will commence. USAC will continue operating while the cyanide circuit is added in stages using internally generated cash flows.

“This is an exciting time for shareholders, as we commence our bulk mining and process testing on our Santana Gold Project. We are additionally pleased that Corex has attracted a strong industry partner in Alamos Gold to assist in identifying and building out developmental targets for the expansion of our Santana property.” said Craig Schneider, Corex’s President and CEO.

“While we are continuing with the geotechnical evaluations and assessments of the remaining capacity at the existing tailings facility, we have made the decision to suspend processing at Topia”, stated Robert Archer, President & CEO. “This will provide the opportunity to safely engage in improvements at the processing plant concurrently with the construction of the new TSF while continuing with mine and resource development. During the period of the shutdown we will maintain full employment at Topia as mining operations will continue and plant personnel will be employed in the upgrade and maintenance programs, training and other activities.”

The option agreement between First Mining and Exploraciones Mineras Peñoles, S.A. de C.V. (an indirect Mexican subsidiary of Industrias Peñoles S.A.B. de C.V. (Peñoles, BMV: PE)), which was previously announced on November 20, 2015 and which granted Peñoles an option to acquire First Mining’s Puertecitos and Los Tamales copper properties in northern Sonora, Mexico, has been mutually terminated.

Silver Spruce Resources Inc. is pleased to announce that it has signed a binding and exclusive Letter of Intent to purchase and explore a submittal prospect near Chinipas, in far western Chihuahua State, of over 300 hectares, where field crews sampled 8.42 grams per tonne (g/t) Gold (Au), 8.04 g/t Au and 3.95 g/t Au in chip channel samples from mineralized outcrop in late September.