Day: March 4, 2019

Mexican President Andres Manuel Lopez Obrador cancelled a gold mine project called Los Cardones in Baja California province on Sunday. The mine, located at one of the main aquifers of the southern area of Baja California, was a threat to the local water sources, according to Lopez Obrador.

El Gobierno del Estado buscará lazos comerciales con Canadá en el marco del PDAC, que es la convención de minería más importante a nivel internacional, que reúne a mil expositores de 800 empresas mineras, y congrega a 30 mil asistentes de 125 países.

This is an entirely new and previously unrecognized vein trend that runs opposite to the expected NW-orientations shown by veins mined for nearly 500 years throughout the known parts of the Fresnillo District. The JV exploration team deserves great credit for puzzling it out, said Dr. Peter Megaw, MAG Silver’s Chief Exploration Officer. We think these may be very important controls on the overall mineralization system because the Valdecañas Vein gets wider and richer in gold where Venadas and its suspected brethren cross it. Most importantly, the cuts to date are all at high elevations, so we are eager to drill them at depth to see if they improve like Valdecañas.

The Valdecañas Vein System continues to astound us with its multiple high-grade silver and gold overprintings on the increasingly base-metal rich Deep Zone and its overall persistence; it having now been traced for over 1,100 metres beneath the top of the Bonanza Zone where our mine development is currently advancing nicely, said George Paspalas, President and CEO of MAG. We are especially pleased with how each hole into the Valdecañas Vein East gives us a free shot on the way not only at the ever-expanding Anticipada Vein but also the fortuitously discovered Pre-Anticipada Vein. Because the drill spacing in the Deep Zone is still widely spaced, we expect the major impact on resources will be to the Inferred category, and that drilling off to Indicated may best be done in the future from underground.