Month: January 2018

Prospero Begins Drilling at Pachuca SE Project, Hidalgo State, Mexico

This drilling completes the third project in a 6,900m program to test 3 of Prospero’s projects under the terms of a strategic investment from Fortuna Silver Mines Inc. made in May 2017. Prospero and Fortuna are planning a 3-4 hole, 1,800m drill program to test 2 targets with deep, angled holes. Drill collar maps and draft sections for the Pachuca drill holes are available on Prospero’s website.

Torex Announces Filing of Final Base Shelf Prospectus

Further to its news release of January 17, 2018, Torex Gold Resources Inc. announces that it has filed a final short form base shelf prospectus with the Securities Commissions in each of the provinces and territories of Canada, except Québec. The base shelf prospectus will allow Torex to make offerings of up to $500 million of common shares, debt securities, subscription receipts, warrants and units or any combination thereof during a 25 month period. The specific terms of any offering of Securities, including the use of proceeds from any offering, will be set forth in a shelf prospectus supplement. The Company has filed this base shelf prospectus to maintain financial flexibility but has no immediate intentions to undertake an offering.

First Majestic Launches Offering of Convertible Senior Notes

First Majestic Silver Corp. announced today that it is offering US$150 million aggregate principal amount of unsecured convertible senior notes due 2023 pursuant to private placement exemptions. The Company intends to use the net proceeds of the Offering to fund certain costs and expenses associated with the recently announced acquisition of Primero Mining Corp. and for general corporate purposes and, if the acquisition is not consummated, for general corporate purposes. If the acquisition of Primero is not completed, the Company expects that the terms of the Notes will permit the Company, at its option, to redeem the Notes.

Santacruz Commences Drilling at Veta Grande Project

Carlos Silva, COO of Santacruz, stated “This drill program will allow Santacruz to establish a maiden resource estimate on the Veta Grande vein in the first half of 2018,” Mr. Silva continued “Following this Phase 1 program the Company’s plan is to broaden the exploration program along the northern strike of the Veta Grande vein as we are eager to test the strike extent of this important historical vein system.”

VVC Exploration – New Private Placement Financings

The proceeds of these Financings will be used for ongoing drilling program, maintenance fees and option payments on the Company’s Samalayuca Copper Project, and for fees and work related to its Cumeral and La Tuna projects in Mexico, general administration costs in Canada and Mexico and for working capital.

Mammoth Resources Reports Initial Results From Diamond Drilling at Its Tenoriba Precious Metal Property, Mexico

Thomas Atkins, President and CEO of Mammoth, commented on the initial drill results stating: “We’re very pleased with these initial results! The objective of this drilling is to test for the first time the depth extension of surface mineralization along a 6 kilometre trend identified by Mammoth. These initial results begin to confirm the continuity of potentially economical surface mineralization at depth along this trend.”

Leagold Announces Intention to Commence Shareholder Supported Take-Over Bid for Brio Gold to Create a 450,000 Ounce per Year Gold Producer With Significant Growth Potential

Leagold CEO Neil Woodyer stated: “Leagold’s growth strategy in Latin America started with the acquisition of the Los Filos mine in Mexico in April 2017 from Goldcorp, and we have a clear objective of building Leagold into a leading, intermediate gold producer in Latin America. This strategy focuses on acquiring operating gold mines and projects nearing construction, post-acquisition asset optimization, and unlocking value.”

Kootenay Announces Drill Results at La Cigarra Silver Deposit, Mexico – Highlights Include 8 Meters of 107.12 gpt Silver Within 31 Meters of 45.75 gpt Silver

Kootenay President and CEO James McDonald stated “La Borracha is a very exciting target with the potential to add a significant number of new ounces to our resource. The zone has been traced on surface from the resource northward for at least 1,100 meters and the latest hole CC-17-37 indicates good grades and widths. The zone has seen very limited drilling and we are eager to commence the next round of drilling in the first half of February. “

Levon Announces Private Placement

Levon Resources Ltd. announces a non-brokered private placement for C$800,000 through the issuance of units of the Company at a price of C$0.35 per Unit. Each Unit will consist of one common share and one half of a share purchase warrant, with each whole warrant entitling the holder to acquire one common share of the Company at a price of C$0.50 per common share for a period of two years from the closing of the Placement.

SilverCrest Summarizes Successful 2017 And Provides Outlook For 2018

N. Eric Fier, CPG, P.Eng and CEO, remarked: “2017 was a very successful year for SilverCrest with multiple high-grade discoveries at Las Chispas. We have now drilled over 40,000 metres in the district with our current focus on increasing the high-grade footprints of the Babicanora, Las Chispas, and Giovanni veins in preparation for the upcoming maiden resource in Q1. The Babicanora Vein will be the largest contributor to the resource with an impressive high-grade precious metal footprint of over 1.0 kilometre in strike length. Even with our aggressive exploration program in 2017, we have only partially drill-tested 3.5 kilometres of the known 12 cumulative kilometres (19 epithermal veins) in known vein strike length. After the announcement of the maiden resource in Q1 2018, we hope to continue to add value through further in-fill and expansion drilling, complete an updated resource in H2 of this year, and complete a Preliminary Economic Assessment (PEA) in H2 as well. Lastly, I would like to thank all of our shareholders and communities for their continuing support and we are looking forward to another exciting year for the Company.”

Gold Resource Corporation Achieves 2017 Annual Gold and Silver Production Targets

“Our Oaxaca Mining Unit’s operations team delivered another year of solid production results for 2017,” Gold Resource Corporation CEO and President, Mr. Jason Reid, stated. “In addition to achieving annual precious metal production targets, the team successfully targeted and mined base metal rich areas of the Arista mine to take advantage of multi-year high base metal prices which generated substantial additional revenue for the year…”

Mexican Gold Extends High – Grade El Dorado Dike Contact Mineralization at Las Minas

Brian Robertson, President and CEO commented, “These high – grade drill results over significant widths continue to expand the mineral resource and increase the grade for the El Dorado/ Juan Bran zone. The expanded resource and higher grades will have a positive impact on an updated resource estimate. The discovery of the high- grade dike contact mineralization also provides a model for exploring additional dike contact zones that are known to exist on the property.”

Excellon Announces 2017 Production Results

“We made great progress in 2017,” stated Brendan Cahill, President and Chief Executive Officer. “We removed a major bottleneck at Platosa and began ramping up production, with another solid quarter in Q4 demonstrating stable production under dry mining conditions. We have more work to do though, as we are working through normal course transitional issues as we ramp up to higher production rates.”

Telson Announces Casualty at Tahuehueto 

Telson Resources Inc. regrets to announce the death of an employee of Tuneles y Servicios GMS, S.A de C.V., a company contracted to conduct underground mining operations at the Tahuehueto project in Durango, Mexico.

Leagold Provids 2018 Production and Cost Guidance for Los Filos Gold Mine

Leagold CEO Neil Woodyer stated: “The 2018 production guidance range includes growth of 12% to 25% over the 191,195 oz produced in 2017. Our 2018 outlook benefits from the operational improvements implemented since we acquired Los Filos in April 2017 and several optimizations planned for the year ahead. During Q2 2018, we will realize the benefits from the overland conveyor and agglomerator capital projects. In addition, the mine plan sequence is scheduling higher gold production during H2 2018. As a result of this production profile, we expect higher costs in H1 2018 and lower costs during H2 2018. Looking ahead and considering the highly successful exploration programs in 2017 that significantly increased both the size and grade of our mineral resources, we are now in a strong position to evaluate the benefits of building a carbon-in-leach processing plant at Los Filos.”

Clarification To: Galore Enters Agreement to Begin Mining Los Gemelos

Galore Resources Inc. At the request of the Investment Industry Regulatory Organization of Canada, the Company wishes to clarify certain disclosures in its’ January 17, 2018 News Release. With respect to the announcement that it has entered into a 5-year contract with URBYASA” to extract available gold at Galore’s 100% owned Duraznillo Ranch, which includes the Los Gemelos and Duende 7 claims.

Oceanus Reports Fall 2017 Exploration Program Drill Results

Oceanus Resources Corporation is pleased to report the 2017 fall exploration program drill results at its wholly owned El Tigre Gold-Silver Property located in northern Sonora, Mexico. The fall 2017 program comprised 600 meters of diamond drilling to define the strike and dip of the high-grade Caleigh vein and the low-grade alteration zone in the hanging wall.

Vangold Mining: Underground Drilling Starts at El Pinguico Mine

Cameron King, Vangold CEO states, “This historic Phase One drill program is the first step in quantifying our assets, providing real time grade and quantity of AuEq ounces attributed to the stockpile. The core samples will provide confirmation of El Pinguico’s high grade historical production and support the earlier geological work, where trenching sample assays exceed in some areas, grades in the range of 15 g/t gold and 1,400 g/t silver. Upon completion of Phase One drilling, the core assays will significantly contribute with the 43-101 resource calculation and value of the UG stockpile.”

Minaurum Drills 8.25 m of 1,760 g/t (57 opt) Silver at Alamos Silver Project

“We are excited by the grades and widths returned by Hole 7”, stated Stephen Maynard, VP Exploration of Minaurum. “As only the second hole ever drilled outside of the historic core of the district, it confirms our “piano-key” structural model and opens the door for drilling throughout the nearly untouched down-dropped blocks located on both sides of the up-thrown La Quintera-Promontorio block. With these results, we have now encountered significant mineralization in every target drilled in our initial drill program including; Minas Nuevas, Promontorio, Nueva Europa, Gap, and Europa-Guadalupe.”

SilverCrest Closes Private Placement for $749,988

SilverCrest Metals Inc. is pleased to report that the non-brokered private placement of $749,988 announced January 3, 2018 with Christopher Ritchie has completed. The private placement, which closed on January 17, 2018, is comprised of 451,800 units at a price of Cdn$1.66 per unit for gross proceeds of Cdn$749,988. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant being exercisable for one common share of SilverCrest at a price of Cdn$2.29 per share for a term of two years. No finder’s fee was paid in connection with this placement.

Sierra Metals Reports 2017 Production Results and Announces 2018 Production, Cost, and Capex Guidance

Igor Gonzales, President and CEO of Sierra Metals, commented: “The Company ended 2017 with sound production due to a very strong performance at Yauricocha, where we continue to reap the benefits of a successful operational improvements program resulting in higher tonnages, in addition to higher-grade material discovered through our successful brownfield exploration programs.”

Evrim samples 9.4 metres grading 7.4 g/t gold in first trenching results from 100%-owned Cuale gold project

Charles Funk, VP of New Opportunities and Exploration commented, “That every trench displayed gold mineralization at such an early stage of exploration at Cuale is very encouraging. The reconnaissance trenching was undertaken in a core triangular area at the hilltop measuring 300 metres by 300 metres where strongly developed silicification correlates with high grades up to 48.5 g/t gold. Evrim is currently planning a follow-up program that includes further trenching and geophysics.”

IMPACT Silver intersects 3.26 meters of 627 g/t Silver and finds new extension to San Ramon Mine at Zacualpan, Mexico

Fred Davidson, CEO, stated, “With these drill results we continue to successfully extend the San Ramon mineralizing system which is larger at depth than near surface. These results along with some historic holes, extends the mineralization 250 meters south of existing mine workings and 200m vertically up-dip representing potential additional mining areas for the San Ramon Mine. We have two underground drill stations almost ready from which we will test the further extension of the zone to depth and to the south.”

Orla Mining Ltd. Announces Completion of Share Settlement

Orla Mining Ltd. announces that it has completed its previously-announced shares for debt settlement after being granted approval of the transaction by the TSX Venture Exchange. An aggregate of $206,783 in debt was extinguished through the issuance of an aggregate of 147,702 common shares of the Company at an issue price of $1.40 per common share. The issued common shares are subject to a four month hold period ending on May 18, 2018.

Galore Resources Enters Agreement to Begin Mining Los Gemelos

Galore Resources Inc. is pleased to announce that it has entered into a 5-year contract with Urbanizaciones Y Acabados, S.A. De CV “URBYASA” to mine gold at Galore’s 100% owned Los Gemelos claim. Management anticipates revenue from the mine going a long way toward satisfying the Company’s current and future overhead requirements. We are optimistic about Galore’s future and even though some consider this approach unconventional, we consider this a promising business strategy that should move this Company to an autonomous position. With a boost in demand due to significant production decreases in recent years, we feel our timing bodes well for increased gold prices.

Boytec Sondajes de México is a member of Christensen Boyles Corporation, with over 100 years in the drilling business. The company has over 27 years of experience operating in Mexico and has 32 drills ranging from small heli-portable/man-portable Hydracore rigs to large Schramm T685WS rigs for deep water well and RC drilling. Boytec is expert in specialty drilling and can effectively fulfill any drilling requirements.
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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