Further to the Company’s news releases of September 24, 2019 and December 31, 2019, the Company provides the following update on its proposed acquisition of all the issued and outstanding shares of Reyna Silver Corp.
Mexus Gold US announced that gold production continues daily at its Santa Elena mine in Caborca, Mexico. Additional revenue will now allow the company to expand hours of operations and add staff which will lead to an increase in production.
The initial 5-hole diamond drilling program measured a total of 815.6 meters in length and tested two separate mineralized corridors of initial interest named “Cerro Rojo” and “El Sahuaro”.
“We’ve increased the pace of drilling at the Los Ricos South Project and continue to hit wide intercepts of good grade. We’ve released the results of our first short holes along the el Abra outcrop which confirm grade starts at surface, including hole 102 which showed 10.7m of 235 g/t silver equivalent,” said Brad Langille, President and CEO.
En Caborca los hombres trabajaban en el campo y temían a la actividad minera, las mujeres no; ese el caso de la mina La Herradura.
“These results mark an excellent start for Vizsla’s drilling program. We are seeing high grades of silver and gold in both our drilling and sampling activities. The Company has drilled veins up to 11.3 metres wide and our new Paloma discovery is also showing excellent widths and grades.”
Almaden Minerals Ltd. is pleased to announce that it has partnered with a local community group focused on irrigation development, and together with them coordinated with the Federal Government water authority (“CONAGUA”), to co-fund a new water reservoir in Zacatepec, a community located nearby the proposed Ixtaca mine development area.
Arturo Bonillas, President and Chief Executive Officer of Magna, stated, “The acquisition of the San Francisco Mine is a pivotal moment in Magna’s evolution to become a growing gold producer in Mexico. Our team has a long history with the operation, and we are confident in our ability to re-establish the San Francisco Mine as a profitable mine. Our focus remains to generate value for our shareholders and this acquisition underpins our ability to do so in the immediate and long-term”.
“The Altamura acquisition completes a highly accretive process for Oroco and its shareholders,” commented Craig Dalziel, the Oroco CEO. “We are now able to fully focus on the development of a significant geological asset which brings with it a very positive local community relationship; exceptional supporting infrastructure; an eager and capable local workforce; and clearly supportive local, regional and federal government agencies. The future for Santo Tomás and the surrounding communities is very bright.”
J. Duane Poliquin, Chairman of Azucar commented, “We continue to push on with our comprehensive two year intensive drill program at the El Cobre project. The drill program has identified multiple zones of porphyry mineralisation within a large area of hydrothermal alteration. The footprint of the system is very large and future work will be focused on searching for the core feeder zones of this large system.”
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