Mexus Gold US announced that the new Merrill Crowe gold recovery system has been installed and is fully operational at the Santa Elena mine. Mexus and its JV partner, MarMar Holdings, successfully tested the system December 3rd.
High grade zinc assaysfrom sampling has been confirmed from the first underground mapping and sampling at the nearby Juarez Mine;
Assay results returned grades up to 42.72% Zn+Pb and 26.92% Zn+Pb from mineralised exposures within the southern workings of the mine.
Additional results are pending from sampling in the northern end of the mine
Juarez has potential to increase the current resource estimate located near the mine infrastructure
Additional high grade assays up to 34.96 % and 28.55% Zn+Pb returned from regional exploration sampling at Alfonsitos and Mina Mexico respectively.
Primero Mining Corp. today announced that the Company has agreed with its lenders to an extension of its revolving credit facility and guarantee provided by Wheaton Precious Metals Corp., previously maturing on December 1, 2017. The maturity of the RCF has been extended to December 15, 2017, providing the Company with the ability to continue negotiations surrounding its previously announced strategic review process and the possible divestiture of its San Dimas mine in Mexico. There can be no certainty that these discussions will result in a resolution acceptable to all stakeholders.
Mr. Jurgensen was first elected to the Corporations board of directors in June of 2005, and served as its President and CEO from June 2010 to June 2016. Mr. Jurgensen has been a member of the Corporations audit committee since 2005.
Pierce Carson, CEO commented, We are pleased to have concluded the purchase of the SDA Mill and wish to thank Rose for their efforts in effecting a smooth transition of assets and personnel. We are delighted to welcome Rose as a major shareholder of Magellan.”
Ethos Gold Corp. is pleased to announce that it has, through its Mexican subsidiary Compañía Minera Roca Dorada, S.A. de C.V. entered into an option agreement for with Coztic Recursos Minerales, S. de R.L. de C.V. to earn a 100% right, title and interest in and to the mineral concessions comprising the La Purisima mineral property situated in the municipality of Buenaventura, Chihuahua, México, subject to the Property Owner being entitled to a 2.0% net smelter return royalty upon the Company earning 100% interest in the Property on the terms set out in the Option Agreement.
Exploration activity levels continue to increase in all regions. While revenue is up 10% as compared to the same quarter last year, the volume of activity increased by more than 10%, given the negative impact of foreign exchange translation on revenue as the US dollar weakened compared to the previous year, said Denis Larocque, President and CEO of Major Drilling Group International Inc. We are pleased to see a return of demand for our services in South America and Asia, regions that were most affected by the cyclical downturn. Although drilling prices have not yet recovered, margins improved during the quarter, mainly driven by improved productivity.
The net proceeds of the Offering will be used for the Companys continued exploration and drilling programs, to finalize a maiden resource estimate for the Las Chispas Project, and for general corporate purposes.
Akiba Leisman, Executive Chairman and Interim CEO states that, Q3 was an especially active quarter for Marlin. Most of the activity focused on expanding and deepening the north side of the Taunus pit and mitigating the rainy season at the La Trinidad Mine. Rainy season ended in early October and the Company regained access to the remaining high grade HS Zone in the north side of the Taunus pit. The Company is now focused on accessing the high grade HS Zone in the south side of the pit, drilling exploration targets at Colinas (less than one kilometer from the pit) and completing an expanded 30-hole exploration program at Commonwealth.
Drilling is proceeding well and since the start of the drill campaign in mid-October, a total of 51 holes, of the 120 planned, have been completed for 2,665m. Processing of the core samples is proceeding smoothly and samples from 37 holes have been submitted to the Bureau Veritas Laboratories in Vancouver, Canada. Results from the first batches of holes are expected to be reported to the market shortly.
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