“First Majestic delivered yet another record year of production, realizing the high end of our annual production guidance of 18.7 million silver equivalent ounces while achieving an all-in sustaining cost of $10.79 per ounce that came in well below our cost guidance range of $11.50 to $12.35 per ounce,” said Keith Neumeyer, President and CEO of First Majestic.
“Our 2016 exploration program substantially replaced our depleted Mineral Resources,” stated Damien Marantelli, Chief Operating Officer. “However, our Mineral Reserve estimate was affected by mining depletion and improvements we made to our geological controls and modelling methodologies. We believe these important changes will set up our mines for future successes through improved planning, predictability and deliverability. Primero has traditionally had a strong history of replacing Mineral Reserves and we remain confident in the significant mineral endowment of our mining districts. In 2016, our exploration programs identified additional Resources but not yet at a confidence level to convert to Reserves. This can be demonstrated by the recent discovery of an extension to the high-grade Victoria vein at San Dimas in late 2016. In an effort to increase our Mineral Reserve base going forward, at a rate closer to historical levels, our 2017 San Dimas exploration budget is approximately double the expenditure of 2016, with a focus on defining additional mineralization on known favourable structures located close to existing infrastructure. We also look forward to continuing our exploration of San Dimas’ greenfield southern concessions, which exist outside the silver purchase agreement.”
Heclas financial discipline focuses on profitable production, so we used the same silver price assumption as last year, $14.50, yet still essentially replaced production despite production being a 125-year record. Maybe most impressive is that it was done with the smallest exploration budget since 2009. The margins we expect to generate give us the flexibility to increase our exploration budget by about 80%, with a focus on extending mine lives, yet still generate positive cash flow in 2017, said Phillips S. Baker, Jr., Heclas President and CEO. At San Sebastian we are starting the year where we left off in 2016, with a significant drilling program designed to capitalize on our discovery success as we seek to expand our high-grade tonnage. The quality and quantity of the targets give us confidence that we may extend the mine life even further.
We have established a solid resource base, largely from the drilling completed in 2016, and are seeing ongoing success as we identify additional mineralisation underground, Mr Dix said. The short and medium-term outlook for zinc prices gives us confidence the study will return positive economic indicators that will provide further justification for this approach. The scoping study is expected to be completed early in the second quarter of 2017, enabling decisions to be made on future progress and development of the Plomosas mine soon after. We look forward to working closely with our expanded team to work through the study, added Mr Dix. In the meantime drilling will continue to expand our current resource and our goal remains to establish a larger scale mining operation off a robust resource at Plomosas.
“We are very pleased to have satisfied the requirements of the Exchange for the RTO process involving Santa Rosa Silver Mining Corp. (The San Javier Project) and Canuc Resources Corporation. We will now move forward as expeditiously as possible to obtain final approval from the TSX-V for the resumption of trading of the Company’s shares, and then to confirm values and project characteristics as outlined in our qualifying technical reports. We anticipate developing accretive shareholder value and are excited about prospects for the San Javier Project and bringing to market this silver/gold property.” – Chris Berlet.
“Once again, we successfully replaced what we mined at the GMC, and upgraded much of the resource to higher categories”, stated Robert Archer, President & CEO. “Notably, due to permitting delays, the fourth quarter 2016 step-out drilling at San Ignacio started after the effective cut-off date for this Resource Estimate, and the results of that program, which would have added to the Inferred resource, were not included. For 2017, we have more than doubled our drilling budget at the GMC, to 34,500 metres, and will continue our efforts to expand and further define the resource base at the Guanajuato and San Ignacio Mines, and the outlying El Horcon Project.”
American International Ventures, Inc. (AIVN) is a gold and silver mining company with a focus on acquiring and then producing from historic mines in operator friendly regions of the United States and Mexico. AIVN flagship mining property “The Mother Lode” in Baja California, Mexico is an enormous mining district, with a rich history starting at the turn of the 20th century when over 200,000 ounces of gold was mined in only 10 years. Only 10% of the property has been tested for gold; the areas that have, return consistently high grade results.
We are very pleased to release the 2016 Proven and Probable Reserve report, showing significant increases to reserve tonnes, gold ounces and silver ounces, along with substantial increases to our mineralized material at our Oaxaca Mining unit, stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation. Working from a modest exploration budget, our team did an excellent job targeting mineralized extensions at our Arista and Mirador mines, and successfully converted previous mineralized material into proven and probable reserves during the 2016 exploration year. Goals for the 2017 exploration year again include replacing tonnes mined at our Arista Mines Arista and Switchback vein systems, as well as expanding the mineralization at the Mirador mine.
The Company will use the proceeds of the financing to fund a first phase exploration program at the Cecilia Gold Project, additional project acquisitions and general corporate purposes.
BACANORA MINERALS LTD., the Canadian and London listed resource developer focused on building an international lithium company, is pleased to announce that it has entered into a definitive agreement (dated February 17, 2017) to acquire a 50% interest in, and joint operational control of, the Zinnwald Lithium Project in southern Saxony, Germany from SolarWorld AG, the largest solar panel producer in Europe. This is in line with management’s vision to become a global lithium operator focused on projects with significant value accretion potential and defined markets at both the product and geographic levels.
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