Month: February 2018

Evaluation and Re-interpretation of the Geology of La Tuna Property Provides a New Perspective for Gold Potential

Jim Culver, CEO of VVC said, “We are excited by the results of the sampling campaign and the new interpretation of the geology and potential of the La Tuna project. The limited sampling on the property and in the old artisanal mines confirmed high grade gold mineralization is present and gave us a new vision for the property. I encourage readers of this news release, particularly those who have a technical interest, to go to the VVC website and view our presentation that shows the geology and potential of the property”.

Alset Hires SRK Consulting to Make Resource Estimates

President and chief executive officer Allan Barry Laboucan said: “In the past year we expanded our Mexican portfolio from having six lithium prospective salars, to an additional seven salars and then staked nearly one million acres over three very large salars. All of these salars are 100-per-cent-owned Alset projects. We look at it as two main project regions, with a southern cluster of 13 salars in the states of Zacatecas and San Luis Potosi, and the second much larger northern cluster in the state of Coahuila. The salars that make up the southern cluster are the most advanced, with enough historical data and recent work to be able to complete a number of mineral resource estimates. These are the three mentioned earlier which include our largest salar, the highest-grade lithium salar and the salar with the highest-grade lithium sample in the southern cluster. We are excited to be able to complete initial mineral resource estimates on these three salars. This work will help provide scope to the tonnage potential of these three salars and help lead our future work on exploration and development of all our lithium prospective salars in the southern cluster.”

San Marco Announces Completion of I.P. Survey at 1068 Project, Textbook Porphyry Geophysical Target Identified

Robert Willis, San Marco’s CEO stated; “The IP survey has generated a classic “textbook” porphyry-style geophysical target. These geophysical results add additional support to our theory of significant vertical extent below the large surface footprint. Drill hole collars are expected to be located at or near copper/gold/moly mineralization, which has been locally, identified right at surface. Each new layer of data that has been generated at 1068 has simply strengthened the target potential.”

Azure Completes Heavily Oversubscribed A$8.2 Million Placement to Accelerate Sara Alicia and Oposura Projects

Azure’s Managing Director, Mr Tony Rovira, said the strong investor support had significantly strengthened the balance sheet, and allowed for the continued exploration and development at Oposura and Sara Alicia. “I am very pleased with the strong support shown from institutions in North America, Europe and Australia. This heavily oversubscribed placement places Azure in a very strong position moving forward, as we work towards completing development studies at Oposura and fast-track exploration at the Sara Alicia gold and cobalt project. With both zinc and cobalt prices at decade highs, we believe that the Company is ideally placed to accelerate both Oposura and Sara Alicia towards development.”

SilverCrest Announces Las Chispas Maiden Resource Estimate; 3.4 Million Tonnes @ 3.66 gpt Au and 297 gpt Ag or 572 gpt AgEq for 63 Million Oz AgEq

N. Eric Fier, CPG, P.Eng and CEO, remarked, “The delivery of this maiden resource estimate is a major milestone for SilverCrest Metals as we continue to systematically expand high-grade mineralization in the district and fast-track the advancement of Las Chispas. In late 2017, we were targeting a total resource number around 40 to 50 million ounces AgEq grading an estimated 500 gpt AgEq but with the recent multiple high-grade intercepts in Area 51, this target has been exceeded. Area 51 (near-surface Babicanora Vein extension) alone has an estimated 32.2 million contained AgEq ounces, grading an impressive 7.43 gpt Au and 469 gpt Ag, or 1,026 gpt AgEq and is open for potential expansion. The Area 51 resource is similar to the 1800s historic production from the adjacent Las Chispas Vein which was approximately 30 million ounce AgEq grading an estimated 15 gpt Au and 1,700 gpt Ag. With continued drilling success, the Company intends to complete an updated resource and plans to prepare a Preliminary Economic Assessment (“PEA”) in H2 2018. Congratulations to our SilverCrest team, contractors, consultants and associated communities for making this impressive high-grade precious metal discovery and maiden resource possible.”

Palamina Completes Oversubscribed $2.15 Million Private Placement

Net proceeds of the Offering will be used for general corporate and working capital purposes and to advance Palamina’s gold projects in south eastern Peru in the Puno Orogenic Gold Belt. All securities issued pursuant to the Offering are subject to a statutory hold period ending June 27, 2018. The Offering is subject to TSX-V acceptance of regulatory filings.

Newcrest to Acquire Indirect 19.9% Interest in El Cobre Through Investment of CAD$19 Million; Almadex to Spin-Out Mineral Exploration and Royalty Assets

J. Duane Poliquin, Chairman of Almadex, commented, “Participation of Newcrest in El Cobre further validates the potential of the district and enables Almadex to conduct the work program at El Cobre which our recent programs have clearly demonstrated is justified. We look forward to working with Newcrest which has extensive experience internationally in similar geological environments as we conduct further exploration at El Cobre”.

Westminster To Recommence Trading; Extend Warrant Terms

Westminster Resources Ltd. is pleased to announce that the TSX Venture Exchange has confirmed that Trading will resume at the open. Westminster Resources was halted as part of the acquisition of the Peru Copper projects, which consist of two advanced exploration projects, Ilo Norte and Ilo Este, and a number of nearby extensions and earlier stage targets, totalling 44 concessions covering 36,000 hectares in the coastal copper belt of southern Peru. This region of southern Peru hosts numerous producing copper porphyry and IOCG deposits, with Peru being the third-largest producer of copper. Ilo Norte is an IOCG type deposit that has had significant prior drilling, while Ilo Este is a large copper porphyry system with coincident gold, silver and molybdenum mapped at surface over more than 3 square kilometres.

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