Month: October 2018

Stewart Harris, VP of Technical Services commented, “The first drill holes at Cuale are planned at La Gloria to test the depth extent of the high grade gold mineralization encountered in trenches 1 and 4, followed by other high priority drill targets throughout the trenched area. Drilling is also planned at four step-out areas to test geophysical targets within the anomalous gold in soil geochemical and rock chip halo, including the North Dome which extends up to 1,000 metres north of the trenched area. This drilling program represents a significant milestone for Evrim and a unique opportunity for our shareholders.”

“Using the information in this drilling program and prior data from qualified geologists we are seeking to prove a 100,000oz target. At that time, we will move to Stage 2 of our drilling program and expand upon these initial findings. As a company, we will be in a stronger position having a proven resource providing multiple options moving forward,” added CEO Paul Thompson.

Goldplay Exploration Ltd. is pleased to provide a corporate update on the Company’s Mexican projects. While the current focus is on updating the resource on the San Marcial Project, plans are being finalized for the exploration of new targets on the El Habal Project, both located in the rich Rosario Mining District of Sinaloa, Mexico.

Millrock Resources Inc. is pleased to report that drilling is in progress at the El Picacho gold project in Sonora State, Mexico. A series of ten holes totaling 2,000 meters has been approved and is being funded by Centerra Gold Inc. under an option to joint venture agreement. The program has been designed to test geological targets identified through soil and rock sampling, geophysical surveys, and trenching. The drill holes will test the Placeres prospect, one of several prospect areas identified by the joint technical teams over the past year. The project targets orogenic gold deposits, similar in nature to the nearby San Francisco gold mine, which is operated by Alio Gold Inc. The El Picacho project, located in Sonora State, Mexico, is located approximately 80 km north of the City of Hermosillo, and is accessible by paved highway and gravel roads.

Almaden Minerals Ltd. is pleased to report that dismantling of the Rock Creek mill was completed in August, and the mill components have since been cleaned, crated and packed to ensure safe storage near the port of Nome, Alaska. The Rock Creek mill is now fully owned by Almaden and ready for anticipated shipping to Mexico in 2019. This work has been completed by Dynamic Engineering Services Ltd. on time and on budget. Dynamic are specialists in dismantling, moving and reassembling large industrial sites including mills. Photos and a video of the 2018 work program in Nome will be posted to Almaden’s website.

Warren M. Rehn, President and Chief Executive Officer of Golden Minerals Company, comments, “The Santa Maria project offers Golden Minerals a low capital cost re-entry into potential silver production in Mexico. Estimated future cash flow and NPV have increased by about 50% based on the additional resources in the study. The $1M start-up cost is at the lowest end of the spectrum of capital cost requirements due to the project’s proximity to existing process facilities and the existing underground development. It is also important to point out that the deposit is open at depth and there are numerous additional veins on the property that have not yet been drilled.”

Fred Stanford, President and CEO of Torex stated: “Our teams have worked very well together to achieve a number of common goals in the quarter. Safety performance has been strong. Record gold production speaks for itself. Mining output rates have ramped up to meet and exceed the increasing plant throughput rates. The SART plant is ramping up well and is now removing approximately 80% of the soluble copper in the process water, with associated reagent use savings. Sub-Sill production is approximately 500 t/d and on track to complete the ramp up to 850 t/d by year end.”