Month: November 2017

Major Drilling Reports Second Quarter Results for Fiscal 2018

“Exploration activity levels continue to increase in all regions. While revenue is up 10% as compared to the same quarter last year, the volume of activity increased by more than 10%, given the negative impact of foreign exchange translation on revenue as the US dollar weakened compared to the previous year,” said Denis Larocque, President and CEO of Major Drilling Group International Inc. “We are pleased to see a return of demand for our services in South America and Asia, regions that were most affected by the cyclical downturn. Although drilling prices have not yet recovered, margins improved during the quarter, mainly driven by improved productivity.”

Marlin Gold Reports $27.1 Million ($0.16 per share) of Adjusted EBITDA and $13.9 Million ($0.08 per share) of Net Loss for the Nine Months Ending September 30, 2017

Akiba Leisman, Executive Chairman and Interim CEO states that, “Q3 was an especially active quarter for Marlin. Most of the activity focused on expanding and deepening the north side of the Taunus pit and mitigating the rainy season at the La Trinidad Mine. Rainy season ended in early October and the Company regained access to the remaining high grade HS Zone in the north side of the Taunus pit. The Company is now focused on accessing the high grade HS Zone in the south side of the pit, drilling exploration targets at Colinas (less than one kilometer from the pit) and completing an expanded 30-hole exploration program at Commonwealth.”

Azure Minerals Ltd. – Oposura Drilling Update

Drilling is proceeding well and since the start of the drill campaign in mid-October, a total of 51 holes, of the 120 planned, have been completed for 2,665m. Processing of the core samples is proceeding smoothly and samples from 37 holes have been submitted to the Bureau Veritas Laboratories in Vancouver, Canada. Results from the first batches of holes are expected to be reported to the market shortly.

San Marco Provides Exploration & Drill Preparation Update on the 1068 & Chunibas Projects

San Marco’s CEO, Bob Willis stated: “As we continue preparations to drill our 1068 copper, molybdenum and gold porphyry system, ongoing corporate strategic planning relating to new acquisitions and joint ventures could lead to significant opportunities for our shareholders. Our goal is, and has always been, to maximize stakeholder value through efficient use of our treasury for exploration and expanding our property portfolio.“

Millrock Announces Private Placement Financing

Millrock Resources Inc. announces that it plans to raise gross proceeds of up to $1,600,000 through a non-brokered private placement of up to 6,400,000 units priced at $0.25 per Unit.

GFM Enters Into Evaluation Agreement

GFM Resources Limited is pleased to announce that it has entered into an exploration and evaluation agreement with Minera Auricup, S. de R.L. for exclusive access to conduct exploration and evaluation of the merits of a mineral concession of Auricup’s Baviácora concession, located in the state of Sonora, Mexico.

Almadex Reports First Holes From Raya Tembrillo (Villa Rica). Intersects Enriched Copper Zone and Hypogene Copper-Gold Porphyry. Cuts 83.90 m of 0.75% Copper and 0.13 g/t Gold and 115.00 m of 0-57 g/t Gold and 0.27% Copper

J. Duane Poliquin, Chairman of Almadex commented, “We are very excited to report these first assays from the very northern part of the large Villa Rica Zone. We believe that these results are proof of large scale porphyry potential in this part of the project. While we have demonstrated the potential for a significant deposit with our Norte drilling, today’s first pass results at Raya Tembrillo clearly show that we are dealing with a large cluster of porphyry systems all of which hold the potential to be important porphyry copper-gold deposits.”

Wolverine Advances Work On Los Venados Property

The field program currently underway will consist of geochemical rock and soil sampling, geological field mapping, and a 7.4 line-kilometer Induced Polarization geophysical survey. The IP survey will include 2 east-west lines between the existing IP data and the Mulatos mine boundary to the south (2,100 meters each) and one north-south line targeting the center of the felsic dome which has been identified. The primary objective of this field program is to further define drill targets with the anticipation of drilling in the first quarter of 2018.

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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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.