“After conducting weeks of due diligence on site in Durango, Mexico, I am confident and excited with the value the Magistral Project is going to bring to MX Gold. The company and its shareholders can look forward to us reporting on our progress from Durango in the weeks to come.” – Bert McPherson, President.
IMPACT Silver Corp. is pleased to announce more high-grade silver from underground drilling at the Deeps Zone of the San Ramon Mine in central Mexico. These new drill intersections extend the zone north of previously reported drilling where it continues to be open for further expansion. New drill results are as follows:
“We are very pleased with our production and operational achievements at the Avino and San Gonzalo Mines in 2016. Solid future cash flow from Avino and San Gonzalo, and proceeds of the recent bought deal financing will provide the Company with the flexibility to fund capital and exploration projects while maintaining a solid financial position. Providing further flexibility within our budgets is our ability to finance new equipment together with the zero penalty deferral of the Samsung payback. Another productive year is expected in 2017, with plans including a plant and mine expansion to increase throughput capacity at the processing plant by an estimated 70%, advancement of the Oxide Tailings Resource project, continued construction and consideration of new initiatives regarding tailings storage, as well as a three-phased expansion program at Bralorne. The estimated capital expenditure costs for these important plans in 2017 will be an estimated USD$16.3 million, all of which will help the company develop and continue to create shareholder value.”
James McDonald, P.Geo, President and CEO stated, Although additional metallurgical testing using standard and SILVOX processes will be required to further assess silver recoveries, results from preliminary testing utilizing the SILVOX process are highly encouraging. The ability to achieve enhanced silver recoveries could have a profound impact on the economic viability of La Cigarra and its potential near-term development as a low-cost, open-pit heap leach operation. Further detailed metallurgical testing using standard and SILVOX processes is expected to be completed in the near future.
Kootenay Silver Inc. reports that at its annual general meeting held on November 30, 2016, that Shareholders voted in favor of all items of business before the meeting, including the election of the following incumbent directors for the ensuing year: Kenneth E. Berry, James M. McDonald, Brian Groves, Joseph P. Giuffre, Nathaniel Jon Morda, Andrea Zaradic and Antonio Reda.
By mutual agreement with the prospective purchaser, the Corporation has put an end to the previously announced negotiations to sell all of its interests in its Mexican mining exploration assets to Minerales y Yacimientos Mexicanos Sacreamento S.A de CV. The Corporation will seek to maximize the value of these assets through other transactions or potential operating relationships or partnerships that it intends to develop prior to the completion of its RTO, as further described below.
“The recent set of drill results has yielded further improvement in potential size, quality and scope of the Cerro Las Minitas project,” said Lawrence Page, Southern Silver’s President. “Our focus will remain to establish this rapidly evolving district into one of the most significant economic polymetallic discoveries in our industry.”
“Achieving this milestone is a critical first step toward rewarding the long-term dedication and perseverance of all of our key stakeholders,” said Kiran Patankar, Geologix’s President and Chief Executive Officer. “During a challenging multi-year period for junior miners following the completion of a Pre-Feasibility Study on Tepal in 2013, our Board of Directors made a prudent decision to curtail spending and minimize shareholder dilution, while stepping in to provide the Company with interim funding to keep the Project in a clean and unencumbered condition until resource capital markets improved. When metals prices stabilized and reversed direction in 2016, the Company enhanced its management team, completed a modest private placement, and commenced an extensive review of Tepal. We look forward to resuming project development based on these promising results.”
Bradford Cooke, CEO of Endeavour, stated, The dip in reserves and resources at our three operating mines was a result of our reduced capital and exploration spending last year. Now that metal prices are recovering, we have resumed our investments to find and develop new reserves and resources. Our exploration efforts at the development projects last year were successful in identifying new mineralization, so we anticipate Terronera and El Compas should add to our total resources to be released in March.
Mexus Gold US released an update on its Santa Elena mine. MarMar Holdings Inc., the mine operator at the Santa Elena, is currently loading ore on the heap leach pad. As previously stated, the equipment currently on site is insufficient to meet the scale of the project. The time and associated costs of using this equipment is prohibitive in the long run. MarMar is moving a larger crusher to the site that once installed will speed the loading process. Installation of this larger crusher will allow the company to optimize and maximize its daily output of ore and lead to much faster completion of the first lift. The cyanide leaching system will be placed on this first lift when done.
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