Two additional holes are planned for this vein and the first of these is currently underway. Also, additional core from drill hole AGT-15 has been sent to the lab for assaying.
“In just a few short months since the Cerro de Oro acquisition we have rapidly advanced the project on a number of parallel fronts. All indications to date support our belief that the deposit is an ideal project for the design and development of another low capital intensity heap-leach operation to expand the Company’s future growth potential” stated Darren Koningen, CEO.
Tarachi President and CEO, Lorne Warner stated “This potential acquisition offers Tarachi an opportunity to crystalize the value that these high gold prices offer. The Company will now have both high-grade gold exploration projects in the Mulatos gold belt of Sonora as well as potential cash flowing tailings operation in Durango.”
“We are enthusiastic about the prospect of working with the Silver Spruce team on the Jackie Gold project. This is the second project that they have taken a 50% interest in with us in less than six months. Their commitments to earn 50% of each of these projects significantly reduces Colibri shareholder’s exploration risk, eliminates near term dilution of shares to provide funding for these two projects and also provides Colibri additional cash and equity upside.”, states Ron Goguen, President & CEO of Colibri.
Greg McKenzie, President and CEO commented, “We are excited to commence exploration on the Company’s 100% owned San Diego Project, host to one of Mexico’s largest undeveloped silver deposits and a prime candidate for resource expansion. San Diego is located in a highly prospective geologic setting, approximately 2 kilometres northeast of the Peñoles El Cobre Project, which has nearly 100 drill pads and recently moved into the engineering phase with optimization studies underway.”
“Silver Spruce is excited to add another large grassroots exploration property in a very productive, mining-friendly region only two kilometres from our El Mezquite property, adjacent to Minera Alamos’ Santana project, and closer to their Nicho deposit currently under construction for gold production. We expect to have the geological teams working on the Jackie property in mid-October,” said Greg Davison, Silver Spruce VP Exploration.
Matthew O’Kane, Managing Director of Comet Resources, said, “Interminco’s experienced team is now mobilising to Ensenada, which will be Comet’s in-country base of operations in Mexico. Ensenada is only 100Km from the project site by mainly sealed national highways. Interminco’s experience in Mexico will be invaluable in getting Santa Teresa exploration underway quickly and efficiently.”
“Our latest results continue to manifest significant silver over-assay percentages with magnetite association, but now also have elevated gold and copper detections. This is consistent with the IOCG deposit model originally postulated for San Javier by Dr. Hitzman in 2006. We provide a link to Dr. Hitzman’s full report on our website and are now refining our exploration focus to target this deposit type on Company claims.”
The 1750-hectare Property hosts 3 past producing silver-gold deposits, El Moro, La Virginia and La Zorra (MVZ Property). The Property is situated within Grupo Minero Diflor’s Pajarito Project which covers a 10 X 25 km, fault-bounded exposure of older sediments and intrusives surrounded by voluminous younger post-mineral rhyolites.
“We are very pleased by these high-grade silver results from the Promontorio Vein, historically the second largest producer at Alamos. These results confirm that mining stopped in mineralization and that it continues to depth,” stated Darrell Rader, President and CEO of Minaurum.
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