Month: December 2017

Defiance Announces Resignation

Defiance Silver Corp. announces the resignation of Mr. Roy Bonnell as Chief Executive Officer and President effective immediately. Defiance has commenced a search for his replacement.

Sierra Metals Significantly Increases Mineral Resource Estimate for Cusi Silver Mine, Mexico

“Sierra’s management team is extremely pleased with the significant increases realized in the measured and indicated resource, and the increase in inferred resources reported in this resource estimate for the Cusi Mine” stated Igor Gonzales, President and CEO of Sierra Metals Inc. “When compared to the previous estimate from January 2017, the Company saw a 129% increase to the measured and indicated resource tonnage and a 36% increase in the inferred resource tonnage. These increases represent a significant amount of additional drilling and mine exploration development work completed at the Cusi Mine which included the Santa Rosa de Lima Zone which has strong potential for further structural extensions of high-grade zones. Furthermore, the increased resource tonnage volume is a result of wider, higher-grade silver zones which are the foundation for the Company’s new operating plan which should significantly improve the cashflow prospects for Cusi in 2018 and beyond.”

Orla Mining Ltd. Announces Share Settlement

Orla Mining Ltd. announces that its Board of Directors has approved a proposed share for debt settlement with certain creditors, providing for the settlement of an aggregate of $206,783 in debt through the issuance of an aggregate of 147,702 common shares of the Company at an issue price of $1.40 per common share.

SilverCrest Announces Infill Drilling Results for Babicanora Vein

N. Eric Fier, CPG, P.Eng, President and CEO, remarked, “Our continued drilling of the Babicanora Vein has shown consistent high-grades along the drill-tested strike length of over one kilometer, and this vein is open to the southeast and northwest. Currently, we are drilling an additional 10 to 15 surface holes at the Babicanora Vein to test for further extensions by mid-January 2018 in anticipation of releasing a maiden resource estimate for the Las Chispas Property in February 2018.”

México es el sexto productor de plomo en el mundo

La producción minera mundial de plomo en 2016 se situó en cuatro mil 704 millones de toneladas, de las cuales el 49.7% correspondió a China; 9.7%, Australia; 8.8%, Europa; 7.2%, Estados Unidos; 6.7%, Perú; 5.0%, México; y 12.9% otros países, según el reporte.

Torex And Lenders Sign Waiver On Liquidity Covenant

Fred Stanford, President & CEO of Torex stated: “A frequently asked question we have received is whether we would breach the liquidity covenants of our Credit Facility. This no cost waiver to temporarily reduce the liquidity covenant is helpful in that it extends the time before liquidity becomes a covenant breach risk. The high quality of support that the Lenders have provided is appreciated and has been consistent throughout their relationship with Torex.” He added, “This month we also received VAT returns of US$13 million, which has helped to reduce liquidity risks.”

Primero Extends Revolving Credit Facility to January 11, 2018

Primero Mining Corp. today announced that the Company has agreed with its lenders to an extension of its revolving credit facility and guarantee provided by Wheaton Precious Metals Corp., previously maturing on December 22, 2017. The maturity of the RCF has been extended to January 11, 2018, providing the Company with the ability to continue negotiations surrounding its previously announced strategic review process and the possible divestiture of its San Dimas mine in Mexico. There can be no certainty that these discussions will result in a resolution acceptable to all stakeholders.

Marlin Gold Announces Expected Timing of Closing of Arrangement

Marlin Gold Mining Ltd. is pleased to announce that, further to its December 19, 2017 press release it expects to close the Company’s previously announced plan of arrangement to reorganize its business, including the spin-off of its wholly-owned subsidiary, Sailfish Royalty Corp. on December 22, 2017.

Goldgroup Appoints Harry Burgess to Board of Directors

Mr. Harry Burgess was a Founding Partner and now an Associate Consulting Mining Engineer of Micon International, Ltd. and is a Member at Professional Engineers Ontario and a Member at The Canadian Institute of Mining, Metallurgy & Petroleum. He is on the Board of Directors at Cartier Iron Corp., GPM Metals, Inc. and ACME Resources Corp. Mr. Burgess was previously employed as an Independent Director by Champion Iron Mines Ltd., an Independent Director by Treasury Metals, Inc., an Independent Director by Tartisan Resources Corp., an Independent Director by Brigus Gold Corp., and an Independent Director by Vena Resources, Inc. He also served on the board at Mag Copper Ltd., Aquiline Resources, Inc., Absolut Resources Corp. and Amerix Precious Metals Corp. He has 40 years of experience with mining operations in China, Africa, North America and Australia. He received his undergraduate degree from Imperial College London, an undergraduate degree from The Royal School of Mines and a graduate degree from the University of the Witwatersrand.

Americas Silver Corporation Declares Commercial Production at the San Rafael Mine

“We are pleased at achieving this significant milestone for the Company,” said Daren Dell, Americas Silver’s Chief Operating Officer. “This mine will be the cornerstone of our Mexican operations and provide cash flow for further drilling and development of our Zone 120 resource, as well as future exploration on our greater land position in the Cosalá district without equity dilution. I would like to thank the entire staff of the Cosalá Operations who successfully brought the San Rafael mine into production while sustaining operations without significant interruption at the Company’s Nuestra Senora mine.”

Oceanus Completes Fall 2017 Drilling Program

During the first quarter of 2018, exploration will continue at the El Tigre property with the focus continuing to be on locating and defining other high-grade vein systems on the property. The Company will also begin testing the potential of the favourable El Tigre formation along strike to the south of the El Tigre mine with geological and prospecting teams mapping and collecting rock and geochemical samples over a distance of 5 kilometers to the south between Gold Hill and the Lluvia de Oro prospect.

Consolidated Zinc Ltd. – Thick Massive Sulphides Intersected in First Holes of Latest Tres Amigos North Campaign

The first two holes completed, LV5039 and LV5040, intersected thick massive sulphide intervals associated with the Juarez Limestone over 5.60m and 4.35m respectively. Assays are pending but visual analysis shows mineralisation comprises banded textured massive sulphides with very fine to fine-grained pyrite overprinted by coarse-grained yellow to reddish sphalerite and minor galena associated with carbonates.

Wealth Arranges Non-Brokered Financing Grants Options

Wealth Minerals Ltd. is pleased to announce that it has arranged a non-brokered private placement of up to 6,250,000 shares of the Company at a price of $1.60 per Share for gross proceeds of up to $10,000,000. All shares issued in the Placement will have a hold period in Canada of four months from the closing of the Placement. Finder’s fees are payable on a portion of the Placement. Completion of the Placement is subject to the acceptance for filing thereof by the TSX Venture Exchange.

Almaden Hits 16.40 m of 2.25 g/t Gold and 25.3 g/t Silver and 10.50 m of 2.45 g/t Gold and 24.4 g/t Silver in Upper Portion of PFS Pit

J.D. Poliquin, chairman of Almaden stated, “We are very encouraged to be outlining this new mineralized zone in an area modelled as waste for stripping within our PFS pit, and look forward to the inclusion of this new zone in future mine plans. Ongoing drilling will continue to seek more such zones even as the engineering work and feasibility study progress.”

Intervendrá el Estado en conflicto de Media Luna

Ante la petición de la empresa canadiense, el gobernador dijo “nosotros esperamos que este sea un asunto que encuentre un camino de solución, porque a nadie la conviene lo que está pasando y nosotros vamos a intervenir cuando tengamos la posibilidad legal de intervenir”.

Alio Gold Intersects 3.85 g/t Au Over 112 Metres At Ana Paula

“These final results of the drill program are again a reminder of the high-grade nature of the breccia mineralization within the proposed open pit at Ana Paula and give us further confidence in our existing block model,” said Greg McCunn, Chief Executive Officer. “We are excited to be turning our attention to testing the extension of the breccia zone below the proposed pre-feasibility study pit with a 6 hole, 4,000 metre program that is expected to begin in early January. This surface drill program will be undertaken in parallel to the construction of the underground decline which is being driven into the mineralized area to allow further drill testing from underground.”

SSR Mining Appoints New Board Directors

SSR Mining Inc. announces the appointment of Ms. Elizabeth A. Wademan and Mr. Simon A. Fish, to its Board of Directors (“Board”). The Board approved the appointments to strengthen its expertise in the areas of the international capital markets, legal and corporate governance. The appointments are effective January 1, 2018.

Gainey Signs Letter of Intent to Acquire the 9,200 Hectare La Minita Property in Sinaloa, Mexico

Brian Metzenheim, Gainey Capital’s VP of Exploration commented, “The style of mineralization found in the shears may represent the upper extents of a moderately sized porphyry deposit that could host economic grades of copper, gold, and silver. I am encouraged by the regional distribution of the shears and the consistency of grades and alteration hosted by them and look forward to initiating exploration work on the project.”

SilverCrest Closes $10 Million Bought Deal Private Placement

SilverCrest Metals Inc. is pleased to announce the completion of the bought deal private placement offering announced on November 30, 2017 whereby the Company issued a total of 9,572,810 units of the Company at a price of $1.05 per Unit for gross proceeds of $10,051,450. Each Unit consists of one common share of SilverCrest and one-half of one common share purchase warrant. Each Warrant entitles the holder to acquire one common share of SilverCrest at an exercise price of $1.45 until December 19, 2019. The Offering includes exercise in full of the underwriters’ option to purchase additional Units at $1.05 per Unit.

Marlin Announces Shareholder Approval and Final Court Approval of Arrangement

Marlin Gold Mining Ltd. is pleased to announce that it has obtained a final order from the Supreme Court of British Columbia dated December 18, 2017 to implement the Company’s previously announced plan of arrangement to reorganize its business, including the spin-off of its wholly-owned subsidiary, Sailfish Royalty Corp.

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