Category: Exploration and Development

First Majestic Silver Corp. and Evrim Resources Corp. are pleased to announce that the Ermitaño and Cumobabi project option agreements in Sonora, Mexico have now been exercised and that First Majestic has completed its 100% earn-in for both projects. In connection with the exercise, First Majestic has made a US$1.5 million cash payment to Evrim and has granted to Evrim, per the original 2014 option agreements, a 2% net smelter royalty in the case of the Ermitaño project and a 1.5% NSR in the case of the Cumobabi project.

Jose Antonio Berlanga, Telson’s Chief Executive Officer, stated, “We are very saddened by this unfortunate and tragic event and send our condolences and sympathies to the family of the deceased; the thoughts and prayers of Telson’s Board of Directors and Management are with his family, friends and coworkers during this unfortunate time. We are and will continue providing as much support to the deceased’s family as possible.”

Prospero Silver Corp. is pleased to provide results for drilling of its Buenavista project in northwest Durango State, Mexico. Eleven holes, totaling 2,811m of core drilling, were completed. The drilling at Buenavista was the fourth project to be drilled under the terms of a second round of strategic investment from Fortuna Silver Mines, Inc.

“We have placed a high priority on achieving early production at El Dorado,” said Pierce Carson, Magellan’s CEO. “The drilled resource appears to be sufficient to support an underground mining operation for five years at a mining rate of 100 tonnes per day. We plan to truck the ore to the Company’s SDA Mill for processing.”

Recent sampling by Kootenay at Malé continues to return anomalous gold mineralization from old pits and hand-dug small trenches found on surface. Thirty-three samples taken during the past month returned gold values ranging from 0.05 to 36.0 gpt with nineteen samples producing values of greater than 1.0 gpt gold. Highlights from the latest sampling program include gold assays of 36.0, 25.5, 24.7 17.0 and 12.10 gpt.

IMPACT Silver Corp. is pleased to announce the discovery of a new mineralized shoot on the Lipton vein in the Guadalupe mine. The new Lipton Norte Zone was discovered during an underground drill program which was designed to test the northern extension of the near vertical vein system. To date the new zone has been drilled over a length of 120m and vertical distance of 80m. The well mineralized shoot remains open in all directions.

Southern Silver Exploration Corp. reported today assay results from initial drilling on its 12,000 metre 2018 core drilling program on the Cerro Las Minitas project, Durango State, Mexico which included a thick interval of strongly silver-enriched sulphide mineralization in drill hole 18CLM-110.

“Our Hermosillo-based exploration team, headed by noted geologist Mel Herdrick, has finalized the planning of a drill program for the Cerro Caliche concessions, including El Colorado,” said Kenneth MacLeod, President and CEO of Sonoro. “A drill plan has been submitted to the Mexican federal environmental agency, Semarnat, for review and approval and a response is expected shortly.”

“We are excited to follow up on last year’s highly successful vein intersection by testing a number of similar high-level veins that we have mapped in, and on the margins of, down-dropped blocks outside of the historic mining corridor,” stated Darrell Rader, President and CEO of Minaurum. “We’ll focus on these new veins to determine the footprint of the overall Alamos District, which appears to be much larger than previously thought, and could well hold more veins of the width and grade mined historically. Our approach is to find and prioritize an inventory of veins before drilling them off.”

“Oso Negro is an exciting prospect missed by other exploration companies and is another example of the bountiful and often under-exploited mineral potential of northern Mexico. By continuing our proactive approach to identifying and acquiring under-valued exploration projects, the Company is expanding our diversified portfolio of high-quality, early-stage and advanced precious and base metal projects,” Mr. Tony Rovira, Managing Director.