Radius Gold Inc. is pleased to report results from the phase three diamond drill program at its Amalia Gold-Silver Project in Chihuahua, Mexico. Pan American Silver Corp., the project operator, has provided assays for the first two diamond drillholes and new results include an interval of 23m at 4.61 g/t Au and 41 g/t Ag.
With samples in hand in combination with the geological & structural mapping, Colibri now feels confident moving forward with its planned drilling program of up to 1000 meters at Evelyn. Permits are being applied for and drilling companies are being contacted for quotations. The Company will provide guidance to the market as permits are received and when a drilling contract has been awarded.
Brad Marwood, Managing Director CZL said “Utilising a mining contractor to start the Plomosas mine was the right decision and after 12 months of growth I am confident that the Company can deliver superior outcomes from the Plomosas mine. We will enter 2020 with a renewed focus and increased determination to achieve strong returns to shareholders.”
“These recent drill results continue a theme we saw in the last results, released in early November, of better grade times thickness on average than the current reserve,” said Brad Mercer, Capstone’s Senior Vice President of Operations and Exploration.
The Company is initially targeting a five to ten million tonne, shallow high grade Cu-Au resource localized along the strike length of the exposed skarn zone. Further work will examine the deeper potential of the mineralizing system including a potential Porphyry Cu-Au source for the shallow high-grade mineralization.
CEO John Lawrence said “Leach testing could be ready at Puerto Blanco by the end of December 2019, and it will also involve the processing of flotation concentrates at Madero. Typical shake down changes, transportation logistics, and a review of costs per ton of ore processed are anticipated. “
Pete Dougherty, President and CEO stated: “We are disappointed with SEMARNAT’s decision to not approve the MIA for the San Antonio project. We have worked hard with the local community and have had positive feedback. We have tremendous support for the project from the local community of San Antonio and the surrounding areas, where members of the local population marched in support of the project and voiced unwavering support at the public information meeting during the MIA process. We continue to believe that San Antonio provides an opportunity for a model mine with the use of clean technologies that also provides near and long-term benefits to the region.”
The amparo forces Grupo Mexico to respect the strike at the San Martin Sombrerete mine, Zacatecas. The First Collegiate Court on Labor Matters granted an amparo to the National Union of Mining, Metallurgical, Steel and Similar Workers of the Mexican Republic (SNTMMSSRM) that heads Napoleon Gomez Urrutia, which forces the company Mexico Group to respect the strike at the San Martin Sombrerete mine, Zacatecas.
President and CEO, Arturo Bonillas stated: “Our geologic team headed up by Miguel Soto has made great strides in mapping and sampling our Mercedes property. Exciting drill targets have been delineated and Magna is moving forward on planning an IP geophysics program to be followed by drilling in 2020.”
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “We are very excited to drill this large chargeability anomaly as these kinds of targets are not easily found, especially in regions well known for big mines. What makes it particularly stand out is that the high chargeability is consistent from east to west on each survey line, and from line to line over the entire grid. One always has to be aware of possible false positives, such as the possibility of disseminated magnetite causing the chargeability anomaly. However, in this case there has been no magnetite found in the area and an historical magnetic geophysical survey by the Geological Survey of Mexico showed no magnetic anomaly.”
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