‘The drill results from this sampling campaign are encouraging and indicate that our team in Mexico has once again successfully met the challenge to find higher grades and thick veins, both as replacement for the closure of San Gonzalo and potentially improve margins before the end of this year’, said David Wolfin, President and CEO.
N. Eric Fier, CPG, P.Eng, and CEO, remarked, ‘The approval of the MIA is a key milestone for Las Chispas. The MIA should enable SilverCrest to have all major operating permits in hand ahead of our scheduled construction timeline. With the anticipated completion of a successful Feasibility Study in H1, 2020, the Company is well positioned to project finance and begin construction activities in H2, 2020. We are extremely pleased with the progress that our team has made in the 3.5 years that weve been exploring at Las Chispas. We continue to work hard to simultaneously de-risk and add value to the Project in a cost-efficient manner. Congratulations to the team and the communities that support us in securing this key permit for development of Las Chispas.’
‘It is remarkable to have defined such highly prospective geology so soon after the start of our field program.,’ said David Jones, exploration manager and director of Megastar. ‘The work to date supports our initial interpretation and looks as promising as the early stages of other exploration programs in the region which are now producing mines. The goal now is to expand known areas and discover additional new targets. We await pending results with great anticipation.’
Silver Spruce Resources Inc. is pleased to announce that it has signed a binding Letter of Agreement with Prospeccion y Desarrollo Minero del Norte, S.A. de C.V. to assume ProDeMin’s option agreement to acquire 100% of the Cocula project, an advanced gold project in the Ameca mining district of Jalisco State, Mexico. The project is located within a very active exploration and mining region with several nearby projects including Agnico Eagle’s El Barqueño exploration project and Endeavour Silver’s Terronera development project. The LOA awards a Right Of First Refusal with a six-month due diligence period to Silver Spruce.
Investigations and due diligence immediately ensued by mining attorneys for the Mexican corporation. During that due diligence, it was noted that, upon the death of the original mining concession title owner, in May 2017, his widow legally inherited his estate, but has not yet received certification of her registration with the Registro Publico de Mineria (Public Mining Registry) establishing her rights as the 100% title owner of the claims.
Bradford Cooke, Endeavour CEO, commented, ‘After many years of discussions, we are happy to announce this exploration and exploitation agreement. It gives us access to two key properties adjacent to two of our past mines at Guanacevi in order to explore, develop and produce any extensions of the Porvenir Norte and Porvenir Cuatro orebodies. Subject to successful exploration, we not only have the opportunity to extend the mine life at Guanacevi but also to commence development and initial production from the El Curso property this year.’
Commenting on the Rossy acquisition, Craig Dalziel , Oroco’s CEO, stated: ‘Acquiring the Rossy concession is a big step forward in Oroco’s land assembly initiatives at Santo Tomas. The Rossy concession has long been an acquisition target for Oroco for reason of its favourable geology and proximity to the Brasiles Zone.’
Discovery’s President and CEO, Taj Singh commented: ‘The receipt of the drilling permit for Monclova is a significant step for the Company. Our team has been working diligently to develop an exploration plan for the Project and has delineated multiple high-potential drill targets that we can test in 2019. This will be the first drilling ever carried out at this past-producing, high-grade project.’
‘The receipt of the Environmental and Change of Land Use permits together mark a significant milestone for VVC,’ remarked Jim Culver, President. ‘VVC’s vision has long been to commence operations in the Gloria zones with a copper Pilot Mine, in an environmentally and socially responsible manner, while generating positive economic and community impacts’
Goldplay President and CEO Marcio Fonseca commented, ‘A high grade gold zone containing 24 m at 2.11 g/t Au, has provided the Company with encouragement that the Nava target could host a significant body of gold mineralization in a low sulphidation epithermal system. Located west of the previous Nava trenches, it opens up a large unexplored area between the trenches and along strike for additional exploration potential for new discoveries in the San Marcial Project. The drilling program in progress will test below these two Nava target areas for depth continuity and additional understanding of the mineralized system.’
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