‘Our recent progression into the lower grade Diluvio zone demands a very focused mining approach in order to realize Mercedes full potential,’ stated John Begeman, Executive Chairman of Premier. ‘We will continue to adjust to the challenges associated with lower grade ores while we exploit opportunities elsewhere in the mine. We have many positive developments elsewhere in the Company that will contribute to our success this year.’
Octavio Alvídrez, Chief Executive Officer, said: ‘Production has continued to recover towards target levels since the first quarter as we begin to see the positive impact of operational measures and investments we have made into infrastructure, equipment and infill drilling, in particular at our Fresnillo and Saucito mines. The improvement and growth initiatives at all our operations, combined with the impact of the change to the accounting treatment of stripping costs at Herradura, have resulted in higher costs for the period.’
Silver Spruce will use some of the proceeds from the sale of the Kay Mine to immediately fund the due diligence program at its advanced Cocula gold project.
PRIZE MINING CORPORATION announces that the Company has appointed Mr. Dino Minichiello to the Companys Board of Directors. The Company is also, subject to regulatory approval, awarding options to directors, officers, employees and consultants to the company.
‘It is remarkable to have defined such highly prospective geology so soon after the start of our field program.,’ said David Jones, exploration manager and director of Megastar. ‘The work to date supports our initial interpretation and looks as promising as the early stages of other exploration programs in the region which are now producing mines. The goal now is to expand known areas and discover additional new targets. We await pending results with great anticipation.’
GREAT PANTHER MINING LIMITED reports that Jeffrey R. Mason has been appointed Chair of the Board of Directors of the Company effective today. He will succeed R.W. (Bob) Garnett who will remain on the Board.
J. Alberto Arias, Chairman of Sierra Metals, commented: ‘On behalf of the Board and Management, I would like to welcome Koko to the Sierra Metals Board of Directors. Kokos experience in corporate accounting and reporting makes her a valuable addition as an independent director to our Board. We believe that Koko will help Sierra Metals execute on its considerable growth plans and strategic opportunities that it has available at all its properties.’
The net proceeds of the private placement will be used for exploration and advancement of the Companys Las Minas Project, payment of outstanding invoices, and general working capital. No finders fees were paid in connection with the Offering.
Silver Spruce Resources Inc. is pleased to announce that it has signed a binding Letter of Agreement with Prospeccion y Desarrollo Minero del Norte, S.A. de C.V. to assume ProDeMin’s option agreement to acquire 100% of the Cocula project, an advanced gold project in the Ameca mining district of Jalisco State, Mexico. The project is located within a very active exploration and mining region with several nearby projects including Agnico Eagle’s El Barqueño exploration project and Endeavour Silver’s Terronera development project. The LOA awards a Right Of First Refusal with a six-month due diligence period to Silver Spruce.
Investigations and due diligence immediately ensued by mining attorneys for the Mexican corporation. During that due diligence, it was noted that, upon the death of the original mining concession title owner, in May 2017, his widow legally inherited his estate, but has not yet received certification of her registration with the Registro Publico de Mineria (Public Mining Registry) establishing her rights as the 100% title owner of the claims.
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