Day: February 26, 2018

“This is a significant step towards extending the life of the San Sebastian mine, and is in keeping with our strategy of maximizing the cash flow and minimizing capital investment by using third-party facilities,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “We will take a bulk sample in the third quarter and if it is positive could begin mining sulphide ore next year. San Sebastian sulphides have the potential for five years of mine life and considerable upside with the recent exploration discoveries. We hope to mine oxides and sulphides concurrently since this agreement does not impact the current arrangement where oxide ore from shallower depths of the mine is being processed at the third-party owned Velardeña mill.”

Mexus Gold US announced that progress at the Ures project continues and is on pace. Cesar Lemas, project manager for the Ures project, recently completed the construction of access roads on the Ures, El Scropio, and 370 concessions. In addition, he continues to take samples from the area to be initially mined and is extremely happy with the assay results. Mr. Lemas added, “Based on my sampling, I can say that we should average 5 grams per ton Au from our VAT leaching system.”

“We are very pleased to begin this partnership with Hecla to process ore from the San Sebastian Mine, 42 kilometres northwest of our Milling Facility,” stated Brendan Cahill, President and CEO of Excellon. “This arrangement provides opportunities for additional operating cash flow to the Company and lower milling cost per tonne and all-in sustaining cost from Platosa. Our Milling Facility’s exceptional scalability has made this opportunity possible, with ample capacity remaining to process increased Platosa production and potential new discoveries at either Platosa or Miguel Auza.”