Category: Exploration and Development

Thomas Atkins, President and CEO of Mammoth commented on the commencement of exploration activities at Tenoriba, stating: “I was very pleased to see, only a week into the new year that Centerra and Mammoth were already coordinating activities to meet and plan the 2019 field exploration program and that geologists for both companies were in the field before month’s end. There’s a lot of work to be done for a new crew to hit the ground on a new project, however Centerra was quick to get their team in gear and in the field.”

Randy Eppler, interim president and CEO of Plata Latina, commented: “We are very pleased with the positive reults from the recent drill program completed by Reyna. These results build upon our initial exploration success and support our geologic discovery model. Reyna has steadily expanded the extent of known mineralization, focusing on 3 target areas with development potential along a three-kilometer strike length. We believe their efforts will continue to demonstrate the value of the Naranjillo property.”

N. Eric Fier, CPG, P.Eng, and CEO, remarked, “The Company’s in-fill drill program at Babicanora continues to deliver drill intercepts with better than expected widths and grade. These results demonstrate that the two previously announced multi-kilogram per tonne shoots (shoots 43 and 51) now appear to be one continuous shoot (“Shoot 51”). Holes BA19-132 and 133 have also expanded the footprint of the high grade shoot towards the surface. Shoot 51 now has an estimated dimension of 300 metres long by 125 metres high. In-fill drilling targeting the Babicanora Vein also confirmed and expanded high-grade mineralization within the Babi FW and Babi HW veins, while expansion drilling targeting the Babi Norte Vein resulted in the Babi Vista discovery. The Company has now identified five veins averaging 150 metres apart in the Babicanora area, all of which have the potential to be accessible from the ongoing exploration decline…”

Magellan Gold Corporation, a U.S. based mining and exploration enterprise focused on silver and gold, today announced it has completed a bulk test of mineralized material supplied and delivered by a private third-party to the Company’s SDA Mill at Acaponeta, Nayarit State, Mexico. As announced December 17, 2018, the purpose of the test was to determine the viability of entering into a long-term processing agreement. Test processing of an initial bulk sample of approximately 600 tons was carried out. The potential customer was pleased with the mill’s performance. However, the customer experienced difficulty in supplying ore on a consistent basis and is assessing plans for going forward. Meanwhile the Company will continue to search for other toll milling customers.

Tahuehueto underground development along the major mineralized structure (see Figure 1), El Perdido, has now been extended approximately 150 meters along strike to the north-east from the Level 12 access decline. The first 60 meters of this development was designed to prepare reserves identified by previous drilling for mining, however, the development drift is being extended in continuous mineralization beyond known reserves/resources and to date has exposed approximately an additional 100 meters of continuous mineralization beyond the know n drilling.