The 2018 exploration program at Mercedes was focused on the expansion of high-grade, near-infrastructure targets that may be upgraded to mineral resources and mineral reserves while also supporting the development of new deposits to increase mining flexibility and productivity. Toward this end, 280 greenfield and brownfield drillholes representing 40,720 m were drilled.
The project area is previously unexplored with only minor historic artisanal-scale pitting of surface outcrops known. Radius geologists discovered the project during regional prospecting surveys. Epithermal silver/gold (plus significant copper, zinc and lead) mineralization has been sampled by Radius in several veins, vein breccias and disseminated zones over a 9km N/W trend. In total 83 prospecting rock chip samples were collected from the property that range from 0.001 to 16.5 g/t Au and 2 to 2030 g/t Ag. Additionally, several zones have accessory copper 0 to 3.79%, Zinc 0 to 13.9% and lead 0 to 3.45%.
Orex’s President, Gary Cope says, “The importance of skarn-style mineralization in Mexico is on the rise, as shown by new discoveries at Pan Americans La Colorada Mine and the ongoing work of Southern Silvers Cerro de las Minitas project. Orexs San Luis del Cordero, like both of these projects as well as the famous San Martin Mine in Zacatecas, are polymetallic skarns in the Mesa Central of the prolific Silver Trend of Mexico.”
Tawn Albinson, the President of Prospero commented: “Our 2018 program appears to have successfully cut the upper parts of a series of blind epithermal veins hosting silver and gold mineralization. This is particularly exciting given how close the project is to the historic Pachuca-Real Del Monte camp. The current Phase 2 program is designed to follow up on the 2018 hits and to drill test a number of additional altered structures that weren’t tested in Phase 1. I look forward to reporting on the drilling during Q1.”
As a result of the completion of the acquisition transaction by the Company (then named Golden Reign Resources Ltd.) of Marlin Gold Mining Ltd., the Company now holds a 100% interest in the La Trinidad heap leach gold operation in Sinaloa State, Mexico. The La Trinidad Mine declared commercial production in November 2014 and has operated continuously with the exception of pit dewatering following hurricanes Linda in September 2015 and Willa in October 2018.
Goldplay President and CEO Marcio Fonseca commented, “The San Marcial Project is one of Goldplay’s top prospects in the Rosario Mining District and we continue to be very encouraged by the upside potential for expansion of the deposit. The exploration results on the 3.5 km mineralized trend, in the vicinity of the historic resource, show high quality targets delineated by the soil and rock sampling program. The 250 years of historical silver and gold production in the region, with several multi-million ounce historic silver mines nearby, support the exploration potential for new discoveries on the under-explored San Marcial concession.”
Mexus Gold US today announced that the 1st phase of drilling is now complete at its Santa Elena mine. The company is awaiting assay results which will be plotted and produce a 3D Model used for interpretation. The final results are expected in February 2019. The company has received results for holes 6 thru 9 which aimed to intercept the Julio vein at depths between 60 to 100 meters. The Julio structure is consistent at depth with mineralized widths of 2 to 5 meters. All quartz vein intercepts had gold and silver noticeable with .1 to .3 g/t Au as the tracing values and 2 to 10 g/t Au as the high values. Hole 7 is the best evidence of high-grade gold at 9.89 g/t Au with an attractive width of 5.3 meters and an overall average of 3.12 g/t Au.
Frederick Davidson, CEO and President of IMPACT comments “Following a series of successful 2018 exploration programs at San Ramon, Guadalupe, and Santa Teresa Gold, the market has clearly indicated interest in the combination of cashflow from production and exploration potential that IMPACT offers. First thing, we aim to explore the targets at Santa Teresa which we recently sampled 6.5g/t gold over a true width of 1.66 meters along a strike length of 50 meters, and nearby Carlos Pecheco had drilling results of up to 19.6g/t gold over 2.9 meter true width in 2008. Concurrent to exploration are optimization at the Guadalupe operation to ensure operation cashflow remains buoyant at current silver prices.”
We had another year of consistent production at the Avino property, producing 2,863,753 silver equivalent ounces, which was in line with our internal projections. said David Wolfin, President and CEO. The completion of Mill Circuit 4 contributed to an increase of 6% in silver equivalent ounce production over 2017, and also helped offset decreasing grades at the San Gonzalo Mine which is nearing the end of its mine life. The underground development at San Luis was temporarily reduced to save costs in the third and fourth quarters of 2018, therefore we are positioned to increase the throughput and the rate of development of the San Luis area during the latter part of 2019. We expect 2019 production to be similar to 2018. We continue to be mindful of costs Company-wide and are taking a pragmatic approach to expanding our operations. Finally, I wish to thank the operations team in Mexico for all their hard work and dedication.
PRIZE MINING CORPORATION wishes to provide an update on the status of the Alberta Securities Commission Notice of Application dated December 21, 2018 seeking an interim order pursuant to section 33 and 198 of the Securities Act(Alberta), which names the Company as a respondent. Counsel for Prize applied for a further adjournment in order to obtain sufficient time to prepare its response to properly address the matters noted in the Notice of Application. The Alberta Securities Commission issued a variation order (the Order) dated January 14, 2019 to adjourn the hearing to February 1, 2019. The Order also requires that all trading in securities of Prize cease and that Prize must cease trading in all securities and that all exemptions contained in Alberta securities laws do not apply to Prize pending the determination of the hearing.
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