Millrock Resources Inc. is pleased to report that the first phase of surface exploration on the La Navidad gold project is near completion, and a drilling program has begun. The project, located in Sonora State, Mexico, 100 km north of the City of Hermosillo, targets orogenic gold deposits. Highlights of a rock sampling program include:
Mr. Vizquerra is currently the Executive Vice President of Strategic Development and a Director at Osisko Mining Inc. Previously, Mr. Vizquerra served as the President & CEO of Oban Mining Corp., where he led the successful change of business strategy that resulted in Oban’s acquisition of Corona Gold, Eagle Hill Exploration Corp. and Ryan Gold to form what is now Osisko Mining. Mr. Vizquerra previously worked as Head of Business Development for Compania de Minas Buenaventura, prior to which he worked as a production and exploration geologist at the Red Lake gold mine. He is currently a board member of Alio Gold Inc. Mr. Vizquerra holds a M.Sc. from Queens University in MINEX, and is a Qualified Person (AIGP).
Income of $4,594 or $0.14 per share for the three months ended September 30, 2017 compared to income of $734 or $0.03 per share for the third quarter of 2016. Gold production for the third quarter of 2017 was 2% higher than the comparable period of 2016.
Matthew Idiens, CEO commented As we near completion of the disposal, we are encouraged by the commitment shown by both parties with the interim milling agreement, allowing for operations to recommence at the SDA mill and Magellan taking on a fully operational business at completion. We look forward to updating the market shortly on progress.
Candente Gold Corp. is pleased to announce that it has entered into a binding letter agreement with Sun River Gold Corp., a private Nevada corporation, to grant Sun River the right and option to further test and, if proven economic, develop and operate the Company’s tailings project in El Oro Mexico through Candente Gold’s Mexican subsidiary, CCM EL Oro Jales, S.A. de C.V., according to the agreement CCM EL Oro Jales executed with the Municipality of El Oro, subject to receipt of regulatory approval.
Thomas Atkins, President and CEO of Mammoth commented on the Private Placement stating: “We’re all set to drill. Mammoth’s VP Exploration, Richard Simpson was on site last week with the drill contractor finalizing logistics. Drill equipment will be mobilized shortly and it’s expected we should be able to commence drilling within a week of equipment and personnel arriving on site.
Jorge A. Ganoza, President and CEO, commented, “We have had yet another quarter of strong operating and financial results at our operating mines in Peru and Mexico, positioning the company well on track to meet our annual production targets and financial objectives.” Mr. Ganoza continued, “Having announced a positive construction decision for our Lindero gold Project in Argentina, we expect free cash flow from our operations to contribute significantly towards the funding of the construction capital requirements.”
The oil firm co-founded by the chairman of Canadian gold miner Goldcorp Inc wants to aggressively expand in Mexico in coming years, including a potential joint venture with state-owned Pemex, the company’s director said in an interview on Wednesday.
The ongoing regional exploration in proximity to the existing underground mine continues to reveal promising results, Managing Director Will Dix said. The Alfonsitos area, located north west of the current Plomosas mine, has the same geological setting to the mine itself and displays a similar style of mineralisation at surface. This providesfurther encouragement that there is potential for significant new discoveries and additional resource tonnes at Alfonsitos and within the existing tenement portfolio. Our immediate intention is to move straight to exploration drilling at Alfonsitos to determine the extent of the surface mineralisation at depth and continue assessment of other prospects identified within the region.
“We continued to generate strong earnings in Q3 2017. In addition to fully funding our operations and growth capital projects, we repaid all of our bank debt and ended Q3 2017 with $186.3 millionof cash and short-term investments,” said Michael Steinmann, President and Chief Executive Officer of the Company. “We see potential for robust cash flow generation with the ongoing ramp-up in production from our mine expansions in Mexico.”
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