Category: Exploration and Development

Discovery Metals Corp. is pleased to announce significant steps towards the re-designation of its Puerto Rico Project claims to allow for mining activities as a result of a meeting of the members of the Board of the Maderas del Carmen Reserve held on March 28, 2019. The MDC Board is comprised of 18 members representing stakeholders from all levels of government (federal, state, municipal), local ejidos, leading public companies from various industries currently operating in the area, as well as non-governmental organizations. Each of the Members is entitled to a vote concerning matters related to the Maderas del Carmen Reserve.

The EC120 Project is a significant addition to our precious metals growth pipeline, said Darren Blasutti, President & CEO of Americas Silver. Having a 2.5 million ounce per year silver project ready for immediate development fits into our strategy of preparing for the inevitable positive correction in the silver price. It provides a solid five-year production base as we continue to further explore the El Cajón and Zone 120 deposits and our other silver-rich exploration target areas in Cosalá later in 2019.

Following the success of our Phase One drill program at the Cerro Caliche gold project in Sonora, Mexico, we immediately proceeded with Phase Two, said Kenneth MacLeod, President and CEO of Sonoro. The proceeds of the financing will be applied toward the continuation of the Phase Two drill program, with assay results from the first fifteen holes due before the end of April.

We have placed a high priority on achieving production at El Dorado, said Pierce Carson, Magellan’s CEO. In addition to progress on permitting, we also have initiated work on mine design, project economics and formulation of a development schedule and budget. The drilled resource has an attractive grade approximating 7.0 grams gold per tonne and appears to be sufficient to support an underground mining operation for several years at a mining rate of 100 tons per day. At current metal prices, revenues are anticipated to be on the order of $7.0 million annually.

The Mulatos operation has been an incredible success story. It started producing gold in 2005 with approximately a seven-year mine life and 14 years later, the mine still has six years of reserves ahead of it. We would like to acknowledge all our employees, the local communities, and elected officials for their continued support in helping us achieve this significant milestone. The Mulatos District still holds great potential and we look forward to many more years of profitable production, said John A. McCluskey, President and Chief Executive Officer.

Alonso Lujan, Vice President of Exploration, stated: The areas tested in the Titan 24 survey demonstrated an excellent relationship between chargeability and the structures. Based on those results, the Company continued to test these areas with drilling programs. This has resulted in the definition of a new structure which demonstrates the continuity of previously defined wide, high-grade, copper structures. The Company plans to drill an additional six to seven holes, approximately 2,500 meters, within this area in 2019. Depending on success further holes and drilling could be added. Further to the success at the West Extension, the potential for further extensions to the North of this zone remains open.

The increased resource at Ermitano adds further value and longevity to Evrim’s royalty in the event the deposit is placed into commercial production, commented Paddy Nicol, Evrim’s President and CEO. According to First Majestic, Ermitaño could add several years of mine life to the Santa Elena Mine. Moreover, 16,000 metres of drilling is underway that could expand the deposit at depth and along strike. Environmental permitting is in its final stages.

Ruben Padilla, Vice President of Exploration for Sable Commented: Hole 24 returned our best results to date with some of our highest silver, gold and zinc grades across a large intercept. This hole was intended to test close to surface mineralisation above low-grade mineralisation intercepted at depth in Hole 3 and we are delighted at hitting such strong, thick mineralisation.

The Leachox precious metal recovery testing conducted byMaelgwyn demonstrates that significant increases up to 65% gold and 81% silver are possible at Campo Morado, states Antonio Berlanga, Telsons CEO. Should additional planned Leachox testing of optimization work to confirm recoveries, ultimate best grind size and reagent additions show a path forward to a commercial installation of this technology, we could improve recoveries from current levels of gold at 15-20% and silver 30-40%, which would significantly increase the mines profitability by increasing the ounces of gold and silver produced at Campo Morado.