Year: 2017

Ramon Perez, CEO of Candelaria commented, “We are pleased to have these new drill holes incorporated into an updated resource estimate for the La Paila Zone. While the ounces in the resource are lower as compared to the previous 2012 report due to the introduction of a pit constraint, the overall in-pit resource did not change materially. The tighter drill hole spacing gives us more confidence in the deposit. We have also identified important drill targets going forward. As we advance the technical work on the project and perform additional drilling beyond the current pit constraint area, we expect to see an increase to the resource at La Paila. We are encouraged by the multiple drill ready targets located within the bigger Caballo Blanco project area.”

A la fecha no se han liberado los recursos correspondientes al Fondo Minero 2015, a pesar de que desde hace más de cinco meses Rosario Robles Berlanga, titular de la Secretaría de Desarrollo Agrario, Territorial y Urbano (Sedatu), entregó de manera simbólica el recurso.

Pete Dougherty, President & CEO commented: “With the acquisition of Fresnillo’s San Juan concession and the drill results so far, we expected to increase the life of the El Castillo mine. Drilling results to date are positive and indicate strong potential to expand the current pit limits initially into the North Target area. This previously announced acquisition also allows us to extract a large, known wedge of economic mineralization that lies on our side of the original concession boundary, as we move the pit wall back onto the newly acquired ground.”

Alvídrez Ortega comentó que “el compromiso con el cuidado del medio ambiente que tiene Fresnillo plc es una prioridad para todas nuestras unidades de operación, por lo que la ratificación como Industria Limpia de Minera Fresnillo y la certificación de Minera Saucito, es una muestra de nuestro interés por tener un entorno sano, sustentable y seguro”.

The claim package comprises 2 concessions, known as Biznagas and Los Lenchos, totaling 9600 hectares, which are contiguous to the south and west with the Cerro Las Minitas claim block. The Biznagas claim was recommended for staking by La Cuesta International, Inc. whose previous exploration activities in the region resulted in the discovery of the nearby San Sebastián Mine (Hecla Mining Ltd.) and the San Agustin project (Argonaut Gold). Southern has negotiated a Finder’s Agreement with La Cuesta as set out below.