Category: Exploration and Development

This PEA study evaluates the potential extension of production from the El Gallo Complex in Sinaloa, Mexico. The proposed development plan evaluated in the PEA is called Project Fenix. The key outcomes of Project Fenix include an average annual production rate of 47,000 ounces gold equivalent, a 12-year mine life, low initial capital cost of $41 million, mine pay-back of 4.1 years, and an after-tax IRR of 28% at current gold and silver prices.

Fred Stanford, President and CEO of Torex stated: “The site teams continue to implement the initiatives to ramp up production.In April, plant throughput was 9 kt/d. In May it was 11 kt/d and in June it was 13 kt/d. In June, plant throughput was above 13 kt/d for 21 days; 9 of those 21 days were above 14 kt/d, and of those 9 days, 5 were above 15 kt/d. Guidance is maintained at 325,000 – 350,000 gold ounces sold for the year.” He added: “The SART plant produced its first copper precipitate, on schedule, in late June. The operations team has taken over from the commissioning team and will now take the SART plant to full production. Growth activities continued through the quarter with development and exploration drilling at the Sub-Sill. In-fill drilling in Media Luna continues and the updated technical report on the ELG Mine and the Media Luna project is on schedule to be completed in late July / early August. We all look forward to the second half of 2018 and the many catalysts that are expected to demonstrate the company building potential of the Morelos Gold Property.”

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) has filed a technical report prepared in accordance with National Instrument 43-101 on the Bolivar Mine. The Report supports the disclosure made by the Company in its news release dated May 22, 2018 entitled “Sierra Metals Increases Mineral Reserve Estimate by 83% for its Bolivar Mine, Mexico”. There are no material differences in the mineral resources and reserves contained in the Report from those disclosed in the May 22, 2018 news release.

Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC) announces that while drilling progress has been slowed by adverse weather conditions and mechanical problems, drill hole ES-18-21 has been completed to a downhole depth of 347 metres. This hole intersected the La Esperanza vein, located in the SE of the project area, as projected at 315 metres downhole, returning a vein intercept over a core length of 14 metres with strong epithermal vein signatures made up of banded quartz textures with disseminated sulphide minerals. The true width of the intercept is approximately 12.15 metres. The core is currently being inspected and prepared for sampling in order to be sent for assay.

Following ten days of detailed field mapping at 1:5000 scale, two additional mineralized structures The Juliana and Marie Veins, were identified within Sable Resources mineral claims. The Juliana Vein can be traced for approximately 650m along a 040 strike. Previous grab sampling prior to mapping returned an assay value of 405 ppm Ag for the vein. The vain has been observed to dip approximately vertical and appears to merge with the Margarita structure to the southwest.

Over the past 4 months, Goldplay has pursued an aggressive exploration program leveraging the team’s experience and track record in the discovery of Au and Ag deposits in the Rosario Mining District, Sinaloa, Mexico.

“The filing of the Informe Preventivo is an important and critical step to attain the permit to drill at Pino de Plata. Surface land owners with ranches on our project have granted access for the drill campaign, and the comprehensive declaration/permit application has been filed. Government approval for the drill program should be awarded within twenty business days, barring any additional clarification that may be requested. The application is complete and thorough. We do not anticipate that any additional information will be required,” stated Karl Boltz, CEO of Silver Spruce.

Azure’s Managing Director, Mr Tony Rovira, commented: “This initial Oposura Mineral Resource is a very positive outcome for the Company’s development and production strategy. Containing over 220,000 tonnes of zinc and lead and 1.6 million ounces of silver in near-surface, high-grade mineralised zones, Oposura is presenting a strong case for mine development.”

Doug Fulcher, CE0 and President of the Company noted “The recent results from the geochemical, geophysical, and geological programs are more encouraging than expected. We look forward to compiling all the data to focus on the 4,000 meter drilling program to test coincidental targets.”

United States Antimony Corporation (NYSE American: UAMY) reported successful testing of a new product, antimony tri-sulfide (also called “needle antimony” or “crudum”). The product is used as a primer component in center- fired ordnance. China has historically been the principal source of the product in the United States and most other countries. The USAC antimony tri-sulfide has complied with the military specification of MIL-A-159D. The product is now being offered to commercial manufacturers of ordnance. USAC will source the antimony ore from one of its Mexican mines and it will be transported to its floatation mill in Guanajuato, Mexico. The floatation concentrate will be shipped directly to Montana for processing. The processing cost using a proprietary method developed by USAC will be cheaper than the production of antimony metal or oxide. Additionally, the price for the contained antimony is significantly higher than that in antimony oxide or antimony metal. Besides the ordnance market, a larger market for the product is in the friction brake industry. The Company has received request for the product from Japan and Europe.