Month: August 2017

Southern Silver Closes Second Tranche of Brokered and Non-Brokered Financing

Net proceeds from this private placement are intended to be used to contribute to the Company’s proportionate share (40%) of the costs associated with continuing exploration on the Cerro Las Minitas property near Durango, Mexico together with the Joint Venture partner of the Company, Electrum Global Holdings L.P. (60%), for advancement of the 100% owned Oro Project, New Mexico, and for additional working capital. Further exploration work on the Cerro Las Minitas property in 2017 and 2018 is to be funded by the two Joint Venture partners and is expected to consist of RC, RAB and core diamond drilling…

Geologix Provides Tepal Exploration Update

Kiran Patankar, Geologix’s President and Chief Executive Officer, stated: “Restarting substantive field work at Tepal is a significant milestone for the Company. Few gold/copper development projects can boast an established economic resource with the kind of scalability and exploration upside we are seeing at Tepal. We have assembled a technical team led by Gillian Kearvell, whose extensive and successful track record of making world-class discoveries in Southern Mexico is bona fide, in order to take a fresh look at the project. The initial findings from this summer’s field program are highly encouraging and suggest that we have just scratched the surface of Tepal’s true potential.”

Goldgroup Announces Amendment of Credipresto Facility

Goldgroup Mining Inc. announces it has amended the terms of its outstanding loan facility from Credipresto SAPI de CV SOFOM ENR, subject to TSX approval. Javier Reyes, a director of Goldgroup, is an executive officer and director of Credipresto.

VVC Exploration: Results of Annual Shareholders Meeting & Grant of Options

VVC Exploration Corporation announces that its Annual General Meeting of Shareholders took place on August 25, 2017 and that the shareholders approved the election of all Directors proposed by Management. With the exception of Scott Hill, those elected were the existing Directors of the Company. In addition, shareholders approved all other matters presented at the AGM, including the re-appointment of MNP LLP as auditors of the Company. The aggregate votes cast at the AGM represented 40,881,101 shares or 22.5% of all issued and outstanding shares.

MX Gold Corp. Celebrates Positive Advancements With Community Relations On The Magistral Project

Ismael Mata Alvarado, Mayor of Santa Maria Del Oro, said: “We are very excited to be the home of one of the next great processing facilities in Mexico. We have seen excellent work and construction of a state of the art production plant. Working with the Magistral Project management team has been a pleasure. Our beautiful city of Santa Maria Del Oro has already benefited from the project, and as the project moves towards completion, it is already becoming clear that it will have a significant impact on our community.”

Marlin Gold Reports $5.4 Million ($0.03 per share) of Adjusted EBITDA for the Quarter Ending June 30, 2017

Akiba Leisman, Executive Chairman and Interim CEO states that, “it is impressive what Marlin accomplished in Q2. The Company was able to complete a 12-million-tonne layback to regain access to the high grade mineralization at La Trinidad, enter into a definitive agreement to acquire a royalty on a multi-million ounce advanced stage gold project operated by a large cap gold producer, and make what looks to be a material discovery at the Commonwealth Project, all without raising any additional equity. Furthermore, the acquisition of the Gavilanes project, the spin-out of Sailfish and the continuous mining of high grade mineralization at La Trinidad will make the second half of 2017 even more exciting for shareholders.”

Endeavour Silver Drilling Extends High Grade Silver-Gold Mineralization in Santa Cruz Vein at the Guanaceví Mine in Durango, Mexico

Bradford Cooke, CEO of Endeavour Silver, commented, “These encouraging drill results continue to extend the resource envelope in the Santa Cruz vein at Guanaceví along strike from our current reserves and operating production areas. Another 15 drill holes have been completed and are in the lab for assaying. The 2017 drill program will wrap up this month below budget and ahead of schedule. We will then commence the process of the year-end resource and reserve estimation.”

Santacruz Silver Reports Second Quarter Financial Results

“Our Q2 results reflect production equipment availability challenges that resulted from working capital constraints,” said Arturo Préstamo, President and CEO. “With the recent sale of the Gavilanes Project, we have remedied this issue and have seen immediate improvement in production in terms of both tonnes of production and grade that are in line with management’s expectations at the Rosario Project. At the Veta Grande Project we are now accessing mineralized material from Level 6 of the Garcia mine and again are seeing an improvement in grade that is in line with management’s expectations.”

Silver Bull Announces The Start Of A 2000 Meter Underground Diamond Drill Program At The Sierra Mojada Project, Coahuila, Mexico.

Tim Barry, President, CEO and director of Silver Bull states, “This program will aim to extend our known zone of sulphide mineralization. Spatially this zone sits below the oxide resource at Sierra Mojada and is interpreted to be an extension at depth. There is potential for this area to be a feeder zone which emplaced the flat lying “manto” ore body which forms the current resource defined at Sierra Mojada.”

Westminster Welcomes Jason Cubitt to its Board of Directors

Westminster Resources Ltd. is pleased to announce the appointment of Jason Cubitt as director. Mr. Cubitt has 25 years of experience working with resource companies in various capacities as founder, finance agent and institutional investor, including director of investments for Vertus Investment Advisory and Ascenta Asset Management, offshore investment advisory firms for which he was responsible for precious metals and special situations mining and energy funds.

Colibri Resource Corporation Announces $1,200,000 Private Placement

Colibri Resource Corporation announces a non-brokered private placement, pursuant to which the Company intends to raise gross proceeds of up to $1,200,000 through the issuance of up to 8,000,000 Units at a price of $0.15 per Unit. Each unit consists of one common share and one warrant. Each warrant entitles the holder to acquire one additional common share of the Company at a price of $0.25 per share for a period of 24 months following closing. Closing may take place in two or more tranches.

Monarca Minerals Announces Management Restructuring

Monarca Minerals Inc. is pleased to report that it has appointed Carlos Espinosa as President and Michael Smith as Executive Vice President, Exploration of the Company. Allan Folk remains as Interim Chief Executive Officer.

Grupo México participa con 76.6% de la producción de cobre de México

En 2016, a nivel nacional México produjo 766 mil toneladas de cobre contra las 594 mil toneladas producidas en 2015; un incremento de 28.9%. Este importante incremento se debió a la consolidación de las operaciones de la Planta Concentradora II y la Planta ESDE III de Buenavista del Cobre, pertenecientes a Grupo México. Sumando la obtención de concentrados y cátodos de cobre, Buenavista produjo 447,418 toneladas, 57.2% más que en 2015, mientras que la Mina Caridad produjo 133,256 toneladas, 1.7% más que en 2015.

Sierra Metals Reports Positive Results From an Expanded Drilling Program at the Santa Rosa de Lima Zone, at it´s Cusi Silver Mine I

Igor Gonzales, President and CEO of Sierra Metals commented: “The discovery and exploration of the Santa Rosa de Lima zone is an important advance in uncovering Cusi’s silver asset value. It confirms the existence of a high-grade silver deposit that will contribute to the growth of the Cusi Mine and to higher silver revenues for Sierra Metals.” He continued, “The Santa Rosa de Lima zone has the potential to transform the current operations at the Cusi Mine and offers even greater potential going forward, as the positive exploration results in our step out drilling campaign have demonstrated. Currently, we have ramped down to the zone and are now planning and developing for the inclusion of this ore in the mine plan at Cusi.”

Telson Resources Inc. Commences Underground Mining at Campo Morado to stockpile mill throughput in advance of anticipated mill start

“Telson’s management team is very happy with the rapid progress we have made at Campo Morado since acquiring the project just over two months ago which has allowed us to work continually towards last week’s restart of underground mining operations.” States Antonio Berlanga, Telson’s CEO, “With the full support of local communities, municipal and state authorities, newly formed mining union, and our mine site personnel, we are well ahead of our originally planned schedule and hope to have a large stockpile of mill throughput available to start continuous milling and the mining operations in the near future.”

Maverix Metals Announces Increased Revenue and Operating Cash Flow for the Second Quarter 2017

Maverix’s President & CEO, Mr. Dan O’Flaherty commented, “The second quarter of 2017 saw many of the assets on which we own royalties achieve record quarterly production. We expect continued revenue and cash flow growth from our portfolio in the second half of the year as multiple assets ramp up to full production capacity and the Moose River Consolidated project in Nova Scotia begins commissioning.” Mr. O’Flaherty continued, “With the loan facility and equity financings now completed, we have significant capital capacity to fund additional accretive acquisitions that will build the per share value of the Company.”

Arian Silver – Lithium Drill Programme Update

Jim Williams, Chief Executive of Arian, commented: “The drill programme progressed well despite initial delays caused by unseasonably wet weather, which impacted ground conditions for drilling. The results of the programme should be available within three to four weeks and I look forward to reporting the results at that time.”

Mexican Gold Signs Drill Contract to Commence Drilling Program at Las Minas

The Company has contracted with K.D.L. Mexico S.A de C.V. for up to 3,000 metres of diamond drilling. The drill program will focus on expanding known mineralization at the El Dorado/Juan Bran, Cinco Senores, and Las Minillas zones and testing new targets identified by geophysical surveys. Drilling will also be scheduled for the high-grade Santa Cruz zone, contingent on the results of a planned surface work program at the site.

Prospero To Drill El Petate Project With Fortuna Silver

Prospero Silver Corp is pleased to provide an update on its on-going 5 month 6,950 m reconnaissance drill campaign funded by strategic partner Fortuna Silver Mines Inc. The drill program is designed to carry out first-pass drilling of a number of Prospero’s early stage projects in the world class Mexican Altiplano mineral belt.

Americas Silver Corporation Provides An Exploration Update On Its Cosala Operations Property

“We are very encouraged by the initial success of this drilling,” said Darren Blasutti, President & CEO of Americas Silver Corporation. “Not only did the infill drilling increase the confidence of the existing resource at Zone 120, but the step out drilling to the southern extension confirms our geologists view of a larger, more robust system which could extend to the El Cajón deposit.”

Santacruz Silver Reports Second Quarter 2017 Production Results

“At Rosario, production quarter over quarter has seen improvements as we transition from mineralized material from development to actual producing stopes at the Membrillo and Cinco Estrellas mines. In addition to this, the Veta Grande mine development has now reached Level 6, and mill recoveries have improved aiming to reach the targeted levels for silver during Q4” stated Arturo Préstamo, CEO of Santacruz adding, “The addition of Membrillo and Cinco Estrellas as feeders to the Rosario Mill has increased the gold content within our Rosario produced concentrates, while higher silver grade areas are now being accessed as the main Membrillo vein starts contributing to Rosario’s mill feed.”

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