J.D. Poliquin, chairman of Almaden stated, The infill results further confirm the continuity of the Ixtaca resource within the PFS pit and the significant grades that can be associated with mineralisation in the volcanics. Our current focus is the completion of the feasibility study which we anticipate in 2018.
Canasil CEO, Bahman Yamini, commented: We look forward to finalizing the Definitive Agreement with Pan American for the sale of Canasils interest in Sandra-Escobar, which will provide a source of significant non-dilutive funding to maintain and advance our current project portfolio. In addition to the cash payment Canasil will retain exposure to the upside potential of the Sandra-Escobar project through the retained NSR.
Azures Managing Director, Mr Tony Rovira said: These latest, high-grade, massive sulphide drill intersections from the sparsely drilled Central Zone confirm that this area has the potential to significantly increase Oposuras resource base. They continue to build on the very positive results from the Oposura Scoping Study and confirm potential to extend the mine life and further improve the already impressive project economics.
Drill intersects of up to 223 metres of polymetallic mineralization
“These are extraordinary exploration results for our La Colorada mine, indicating the potential to substantially expand mineral resources, mine life and ultimately production capacity,” said Christopher Emerson, Pan American Silver’s Vice President Business Development and Geology. “Following the most recent mine expansion completed in 2017, we have renewed our exploration efforts at La Colorada, and these recent discoveries validate the important exploration potential of this mine.”
The drilling is well underway and currently focused on completing three drill holes, totaling approximately 600 meters, at the Cascarita area, a high-grade silver-lead-zinc sheeted/vein breccia system. Once all three holes are completed, core samples will be processed.
We are excited that mapping and sampling in the newly acquired Claraboya concession has extended the high-grade Europa-Guadalupe vein by over 1 km. This new zone pushes the overall footprint of the Alamos district to 10 km long by 3 km wide, stated Darrell Rader, President and CEO of Minaurum. We look forward to incorporating targets in this new area into our current drill program.
The Marianas Zone was discovered by surface drilling and represents the down-plunge extension of the main Mercedes mine trend. Based on previous intercepts, Marianas appears to have the potential to host economic mineralization of higher than the current reserve grade. It is the Companys goal to convert Marianas mineral resources to mineral reserves with a delineation drill program over the balance of 2018 and 2019. With success, mining at Marianas could begin in the second half of 2019.
Carlos Silva, COO of Santacruz, commented; “With these drill results at the Navidad vein, and higher grade intercepts along the northern strike of the Veta Grande vein, we continue to demonstrate the potential of this high-grade mineralized district.” Mr. Silva added; “We recently identified the potential of the Navidad vein, which has never been systematically explored, and results thus far are extremely encouraging. Drilling is continuing with an additional 14,000 metres of diamond drilling budgeted.”
Dr. Carl Hering, newly appointed CEO, commented, Since joining the MEX team in Sept. of 2018, we have been reviewing data with the objective of delineating new mineralization both in the existing resource areas and in potential target areas for expansion. We believe that a new and updated NI 43-101 Resource will demonstrate significant improvement over the initial Resource defined in August 2017, given the success of drilling since that time.
Chris T. Grijalva, CEO stated, Preliminary property assessment has allowed us to recognize the porphyry gold-copper-moly potential for Espiritu SMR, the magnitude of which is unknown. The area will be re-mapped to determine the surface extent of the system(s). Our first pass review suggests the mineralized zones are open in all directions. We still need to understand the zoning and other possible controls of the mineralization in order to best target future drilling. San Marco is taking the Espiritu potential very seriously and, for this reason, has engaged an experienced, high calibre expert who immediately will create and execute an aggressive and systematic exploration program. We are targeting late November for completion of this first-pass program.
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