Month: January 2017

Mexus Gold US released an update on its Santa Elena mine. MarMar Holdings Inc., the mine operator at the Santa Elena, is currently loading ore on the heap leach pad. As previously stated, the equipment currently on site is insufficient to meet the scale of the project. The time and associated costs of using this equipment is prohibitive in the long run. MarMar is moving a larger crusher to the site that once installed will speed the loading process. Installation of this larger crusher will allow the company to optimize and maximize its daily output of ore and lead to much faster completion of the first lift. The cyanide leaching system will be placed on this first lift when done.

Robert Willis, San Marco’s President and CEO noted “we consider our Target #1068 as “proof of concept” for the highly time and cost efficient targeting JV we created with GlobeTrotters. Our crews have partially mapped in a classic porphyry alteration system of substantial size. Most surface exposures are high-level lithocap, which generally doesn’t display anomalous geochemistry. However, we have been able to find scattered exposure in arroyos where erosion has exposed underlying rock units and mineralization. All the sampling done at these exposures has reported anomalous to highly anomalous copper and gold values. We view Target #1068 as a legitimate new porphyry discovery and look forward to rapidly advancing it. We have scores of other targets in the region to investigate and rank and that work will be carried on simultaneously”.

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.”

Canasil Resources Inc. announces that the Company has completed the first hole, ES-16-12, of the 2016-17 core drilling program at the La Esperanza silver-lead-zinc project in Durango and Zacatecas States, Mexico. The hole was drilled to a downhole depth of 394.5 metres. This hole intersected an extended interval from 345 metres to 391 metres down hole, carrying banded quartz veins, veinlets and breccias hosted within fractured and brecciated volcanic rocks. Base metal sulphides including sphalerite, galena, and chalcopyrite have been noted. The core is being logged and prepared for assaying to determine base metal and possible silver content.

Mexus Gold US announced that after careful deliberation the Company has determined to acquire the concessions comprising the San Felix Project. Mexus has entered into land surface use agreements and concession purchase agreements for various land parcels which expired under the prior owner’s failure to pay. The agreements require a cash payment with term payments to the respective owners. The Company also announces the execution of an agreement with MarMar Holdings Inc. whereby each company owns a 50% share of the San Felix Project and designates MarMar Holdings Inc. as the operator of the daily production activities…