First Majestic Silver Corp. is pleased to announce that it has entered into a definitive agreement dated May 24, 2022 to sell its 100% owned past producing La Guitarra Silver Mine located in the Temascaltepec mining district, Mexico State to Sierra Madre Gold & Silver Ltd. for total consideration of US$35 million.
Greg Liller, Sierra Madre´s Executive Chairman and Chief Operating Officer commented, “Based on my experience with running the La Guitarra mine and overseeing the district´s first large-scale exploration program, I have always believed La Guitarra is one of the largest undeveloped silver opportunities in Mexico.”
Bill Pincus, Chief Executive Officer and Director stated: “We have successfully completed targeting based on remote image interpretation and are now actively engaged in the field sampling and mapping new areas at our flagship Santa Daniela gold project. The work completed so far has been yielding positive results and we remain on track to identify new drill targets by year-end.”
“With the development of Media Luna and growth ambitions ahead of us, we will increase the positive impact we are making in Mexico and beyond and continue to demonstrate what responsible gold mining looks like.”
“Throughout our more than 130 years in operation, Hecla’s focus has been on responsible mining practices, safety, and building strong communities where our mines operate,” said Hecla President and Chief Executive Officer Phillips S. Baker, Jr.
GR Silver Mining Chairman and CEO, Eric Zaunscherb commented, “The 2022 infill drill program at the Plomosas Mine has been carefully designed to address upside potential in the resource block model. It has been our thesis that historical sampling lacked detail in some unmined areas resulting in the adoption of zero grade in unsampled drill hole intervals in the current resource model.”
Benjamin Hill Mining Corp. President, Mr. Greg Bronson stated: “The initial results are a great start to our exploration program and indicate that the property likely hosts significant copper and gold mineralization. We look forward to receiving the remaining analytical results and expect those results to continue to prove up the economic mineral potential of this property.”
Prismo Metals Inc. is pleased to announce that it has appointed Allan Frame as Director of Business Development.
“Completing this transaction means we can unlock the value of the Rogers Creek asset to our shareholders and ensure it has the focus it deserves through Cascade Copper”, commented Brodie Sutherland, CEO. “We are excited about the potential of Cascade Copper and the new management behind it. This also allows Tocvan to focus on its core assets in Sonora, Mexico where we have seen tremendous growth over the past two years.”
“Tajitos and Copala continue to be a major focus for near-term resource expansion at Panuco,” commented Michael Konnert, President and CEO.
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