Month: September 2017

Defiance Closes Final Tranche of Private Placement

Defiance Silver Corp. is pleased to announce that, further to its news release of September 25, 2017, it has closed on the final tranche of its private placement of 890,000 Units at a price of $0.30 per Unit for gross proceeds of $267,000. These Units are subject to a four month hold period expiring January 30, 2018. In total, Defiance raised $1,725,000 under its private placement. The proceeds of the private placement will be used by Defiance to commence a drill program at the San Acacio Silver Deposit located in Zacatecas, Mexico as well as for working capital purposes.

MX Gold Corp. Announces Fully Subscribed Private Placement Financing

MX Gold Corp. is pleased to is pleased to announce that the Company has closed a non-brokered private placement. The Private Placement is subject to TSX Venture Exchange approval. The Company completed the sale of 40 Million units at a purchase price of C$0.10 per unit for gross proceeds of C$4 Million.

San Marco to Carry Out a C$1.26 Million Private Placement

Up to approximately $800,000 of the gross proceeds from the Offering will be used to continue exploration work on the Company’s properties and the balance of up to approximately $460,000 will be used for general corporate purposes. Such properties include the Chunibas Project where the Company recently announced a newly discovered porphyry-related breccia gold system and advancing the 1068 Project where the Company also recently announced high priority drill targets have been identified on this undrilled copper, molybdenum and gold porphyry system discovered from San Marco’s generative program.

Alamos Gold Declares Semi-Annual Dividend

Alamos Gold Inc. today announced that the Company’s Board of Directors has declared a semi-annual dividend of US$0.01 per common share. This represents the Company’s 16th consecutive semi-annual dividend and once again demonstrates its commitment to returning value to shareholders.

MX Gold Corp. Retracts Statements Announcing Mineral Reserves for its Magistral Project in its July 20, 2017 News Release and Retracts Statements Regarding a Max Mine Resource and Economic Analysis in its February 2017 Corporate Presentation

MX Gold Corp. announces that, as a result of a review by the British Columbia Securities Commission, the Company wishes to clarify its disclosure and retract statements announcing mineral reserves of its Magistral Project in its July 20, 2017 news release and to also retract statements regarding mineral resources and estimates of an economic analysis for the Max Molybdenum portion of its WillaMax project in its February 2017 corporate presentation.

Kootenay Silver Mobilizes Drill to La Navidad Zone, at La Cigarra Silver Project, Mexico

Kootenay Silver President & CEO Jim McDonald states, “Drilling at Las Venadas was successful in identifying what we believe is a very significant new silver zone with potential to add to the La Cigarra silver resource count (see news releases August 30th, 2017Anchor and August 15th, 2017). Obviously we are looking forward to the follow up drill program on the new discovery once the current program is complete. Meanwhile we are excited to get the first ever drill holes into the La Navidad Zone, which offers considerable exploration upside given it’s similarities to the San Gregorio part of the deposit just 500 meters to the west.”

Mexican Gold Commences 3,000 Metre Drilling Program at Las Minas

Brian Robertson, President and CEO stated, “The Phase 2 diamond drilling program marks the next phase of expanding the resource at the Las Minas project. We will be drilling three high-priority targets with known mineralization and well defined geophysical targets. It is becoming increasingly evident that there is a significant opportunity to expand the current resource as well as extend the footprint of the known mineralized zones.”

Sierra Metals Announces Memorandum of Understanding with Jinchuan Group Co., Ltd. in Mexico

J. Alberto Arias, Chairman of the board of Sierra Metals, stated “we are delighted to have progressed discussions with Jinchuan to formalize of a memorandum of understanding and we are looking forward to accelerating the development of the Bahuerachi project in partnership with Jinchuan. We expect to be able to take advantage of the synergies in our operations at Bolivar, sharing our expertise and local know-how. We value our relationship with Jinchuan and foresee further growth opportunities for both companies working together in Mexico and Latin America.”

Levon Resources Announces AGM Results

Levon Resources Ltd. is pleased to announce that the nominees listed in the management information circular dated August 23, 2017 were elected as directors of the Company at the annual general meeting of shareholders of the Company held on September 28, 2017. At the Meeting, the shareholders also approved setting the number of directors at six, the appointment of the Company’s auditors, and the re-approval of the Company’s rolling stock option plan.

Los Principales Proyectos de Zinc en México

Peñoles se ha posicionado como el mayor productor de zinc, en gran medida gracias al arranque de la mina Velardeña, de acuerdo con datos de la Cámara Minera de México (Camimex).

Silver viper Minerals Corp. Completes Initial Public Offering with Expected Trading Date of Friday, September 29

Silver Viper Minerals Corp. is pleased to announce that it has successfully completed its initial public offering of 12,262,500 common shares of the Company at a price of $0.25 per share for gross proceeds of $3,065,625, and has received approval of its application to list its common shares on the TSX Venture Exchange. The Company anticipates that its common shares will commence trading on the TSX-V on or about September 29, 2017 under the trading symbol “VIPR”.

VVC Exploration Private Placement Financings

VVC Exploration Corporation is pleased to provide an update on its previously announced CA$1 million in a non-brokered equity private placement. This placement is for units of the Company at a price of $0.05 per Unit, whereby each Unit consists of one common share and one-half of one common share purchase warrant of the Company. Each full Warrant entitles the holder to purchase one additional common share of the Company for a period of three years, at an exercise price of CA$0.06 per share. The Company has raised to-date about CA$900,000 and have commitments for an additional $460,000. The Company therefore is increasing the maximum amount of the offering to CA$2 million. The proceeds from the offering will be used mostly for ongoing drilling program, maintenance fees and option payments on the Corporation’s Samalayuca Copper Project in Mexico and working capital.

Telson Resources Inc Sells 471 Tonnes of Tahuehueto Lead and Zinc Concentrates Processed Aug. 2017 for Cash Proceeds of US $1,584,902

“We have produced excellent concentrates from of our first Tahuehueto ore preproduction at the Atocha Toll Mill achieving a significant overall increase in concentrate grade from previous concentrate production. Atocha milling has produced an average 42% lead concentrate containing 121 g/t gold and over 1 kg of silver/t plus an average 55.8% zinc concentrate with payable gold and silver contents ,” states Antonio Berlanga, Telson’s CEO, “and recoveries of all metals have also been significantly increased with total average payable recoveries of 83% gold, 89% silver 81.5% lead and 85% zinc. These current results have exceeded our expectations, markedly surpassing the results achieved beginning of this year from the Initial Bulk Sampled processed at the basically equipped Andes Mill.”

Levon extends a Gold enriched sulphide zone through the Cordero Ag, Zn, Pb, Au Resource with 2017 infill drilling, aimed at improving starter pit economic projections

“As metal prices rebound our strategic focus has been to continue to define and improve the Cordero Resource. We expect the 2017 drill results will extend an Au enriched sulphide zone from the Diatreme into the Dome that will have a positive effect on economic projections in the continuing starter pit analysis. The 2017 Resource infill drilling also adds to our exploration understanding of the deposit. Our next step is to provide a 2017 43-101 compliant Resource update to the market and continue the starter pit evaluation toward producing Preliminary Economic Assessment. We are pleased with the 2017 drill results and the improving metals market, which fit our plans to improve Levon shareholder value. We believe Cordero, our 100% owned key asset, is a remarkable project with upside continuing to be realized” says Ron Tremblay, President and CEO.

Leagold Commences Development of Bermejal Underground

Neil Woodyer, CEO stated “We have been steadily advancing the development of the Bermejal Underground as an expansion project at our Los Filos mine, and the start of the portal and ramp is a significant achievement within our initial six months of ownership. The contribution from underground mining at Bermejal will add approximately 150,000 ounces per year to the operation and bring the combined production rate to 350,000 ounces per year once fully operational.”

Goldcorp Reports Positive Progress on Project Pipeline

At Peñasquito (100% owned, Mexico), the Pyrite Leach Project is 40% complete and expected to commence commissioning in the fourth quarter of 2018, three months ahead of schedule. PLP is expected to recover approximately 40% of the gold and 48% of the silver currently reporting to the tailings, and is expected to add production of approximately 1 million ounces of gold and 44 million ounces of silver over the current life of the mine.

Mina canadiense será explotada subterráneamente

Juan de Dios Magallanes, director de Minas de la Secretaría de Economía de Gobierno del Estado precisó sobre el proyecto minero de la empresa canadiense Oro Silver Ltd., que informó el pasado 13 de septiembre la alcaldesa Judit Guerrero López se asentará en la capital del estado, que sí se trata de la reactivación de la mina El Compás que se ubica en la comunidad de El Orito, y que tuvo su más reciente actividad de explotación hace 30 años.

Goldgroup Provides a Legal Update

Goldgroup Mining Inc. would like to provide a legal update in regards to DynaResource, Inc.’s award in excess of USD$48 million in damages against the Company. On August 24, 2017, a Federal Amparo judge in the state of Veracruz, Mexico, dismissed Goldgroup Resources Inc.’s Amparo challenge. Goldgroup’s position in response to the USD$48 million claim remains the same with its previous press release (see Goldgroup’s August 31, 2016 and October 14, 2015 press releases). Goldgroup was never notified of the purported court case, and does not recognize any of the claims mentioned therein and is of the belief that such claims are entirely without merit. More importantly, the Company expects the claim to be voided at the Mexican Supreme Court level due to the unambiguous arbitration result in favor of Goldgroup in August, 2016.

Minera Santa Rita, Subsidiaria de Alamos Gold Alcanza Record de 1,000 Días Sin Accidentes Incapacitantes

El 20 de Septiembre del presente año, Mina El Chanate, de la empresa Minera Santa Rita, filial del corporativo Alamos Gold, Inc., ubicada en el municipio Altar, Sonora, logró el record de 1,000 días sin accidentes incapacitantes. Esta meta se ha cumplido gracias al compromiso de Minera Santa Rita y de sus contratistas Sinergia Obras Civiles y CAT Núñez quienes mantienen el valor principal de la empresa que es “Llegar a casa seguro todos los días”.

McEwen Mining Announces Closing of US$46.6 Million Bought Deal Offering

The proceeds of the Offering will be used to purchase the Black Fox Complex and for general corporate purposes. Black Fox is a producing underground gold mine located in the world-famous mining region of Timmins, Canada. Production in 2018 is expected to be 50,000 gold ounces, increasing the company-wide gold equivalent production by 16% from approximately 157,000 ounces in 2017 to 182,000 ounces in 2018.

Fresnillo plc – Statement re: Mexico Earthquake

Fresnillo plc is deeply saddened by the terrible earthquake that struck Mexico on 19th September 2017. The Company’s thoughts and sympathies are with all of those affected by this tragedy.

Oretest is a mining exploration drilling contractor based in Mazatlán, Sinaloa, México. The company is managed by Bart Forsyth, with 36 years of extensive drilling experience on most continents with major companies. The company takes great pride in providing high-quality services while making safety a priority. Maintenance, cleanliness, precision and proper drilling habits makes a good safety environment and produces results.
Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

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