Category: Exploration and Development

Fred Stanford, President & CEO of Torex stated: “Our understanding is that the Lease Agreement in place is the second most generous land agreement for mining in the country. The fact is this small group of families does not have the legal authority to speak for the Ejido, and they do not have the support of the Ejido to challenge the Lease Agreement or to conduct these illegal activities. We have no intention of being extorted to change what is already a fair and lucrative contract.” He added: “This illegal, thuggish behavior on the part of a few families and an outside union is a blatant attempt to intimidate and extort the Company. I want to be clear in saying that when Torex is scheduled to return to mining in EL Limon Pit, the Company’s employees will do so, and will not be intimidated.”

Mexus Gold US announced that progress at the Ures project continues and is on pace. Cesar Lemas, project manager for the Ures project, recently completed the construction of access roads on the Ures, El Scropio, and 370 concessions. In addition, he continues to take samples from the area to be initially mined and is extremely happy with the assay results. Mr. Lemas added, “Based on my sampling, I can say that we should average 5 grams per ton Au from our VAT leaching system.”

“This is a significant step towards extending the life of the San Sebastian mine, and is in keeping with our strategy of maximizing the cash flow and minimizing capital investment by using third-party facilities,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “We will take a bulk sample in the third quarter and if it is positive could begin mining sulphide ore next year. San Sebastian sulphides have the potential for five years of mine life and considerable upside with the recent exploration discoveries. We hope to mine oxides and sulphides concurrently since this agreement does not impact the current arrangement where oxide ore from shallower depths of the mine is being processed at the third-party owned Velardeña mill.”

“We are very pleased to begin this partnership with Hecla to process ore from the San Sebastian Mine, 42 kilometres northwest of our Milling Facility,” stated Brendan Cahill, President and CEO of Excellon. “This arrangement provides opportunities for additional operating cash flow to the Company and lower milling cost per tonne and all-in sustaining cost from Platosa. Our Milling Facility’s exceptional scalability has made this opportunity possible, with ample capacity remaining to process increased Platosa production and potential new discoveries at either Platosa or Miguel Auza.”

Oroco Resource Corp. is pleased to announce that it has acquired, through its wholly-owned Mexican subsidiary, Minera Xochipala, S.A. de C.V., a 77.5% interest in each of the La China II and Amp. Santo Tomás Reduccion 1 mineral concessions from Santo Tomas Metals, S.A. de C.V., and a 77.5% interest in an application for the Papago 17 mineral concession from Ubaldo Trevizo Ledezma of Choix, Sinaloa. In aggregate, the three properties comprise approximately 6,978 ha and abut and surround the Santo Tomas copper porphyry properties in Sinaloa, Mexico. Please see the attached map for references.

“Drilling underground continues to define high quality mineralization around the current mantos,” stated Ben Pullinger, Vice-President, Geology. “Identifying near-term mineable mineralization remains a priority for the underground diamond drill rig, as we work towards defining structural controls that may lead to further discoveries of manto and feeder-style mineralization.”

J.D. Poliquin, chairman of Almaden stated, “We are very encouraged to be further defining the mineralised zone beneath the PFS pit. It demonstrates the potential for the Ixtaca mine plan to grow. Ongoing drilling will continue to seek more such zones even as the engineering work and feasibility study progress.”

Southern Silver Exploration Corp. reported today that recent surface sampling targeting precious-metal enriched epithermal vein systems on its newly staked CLM West claim group (Creston del Oro, Biznagas and Los Lenchos claims) has identified several new drill targets for RC drill testing in Q2 2018.

“We are very pleased with the updated mineral resource estimate, which demonstrates a significant increase in the mineral resources potentially available for mill feed” said Avino President and CEO, David Wolfin. “The successful drill program that started in 2016 has allowed us to evaluate the tonnage and grade in the area between the San Luis workings and the ET production area, the results of which have now been incorporated into this updated mineral resource estimate. We are confident that our 2018 exploration program will continue to build on the success of our past operations. I would like to thank the exploration team in Mexico for their continued and invaluable efforts. Avino is celebrating its 50th year in the mining industry, and this would not be possible without the hard work and dedication of the entire Avino team.”

Tim Barry, President, CEO and director of Silver Bull states, “We are extremely pleased with the results from this batch of drilling. The new sulphide zone is proving to be very productive for high grade sulphide mineralization. The drilling summarized in this news release targeted the second of three steeply dipping, discreet structures we have identified in the sulphide zone. Drilling from the first structure announced in the previous news releases of holes T17001 to T17014 were dominated by high grade silver-copper sulphide mineralization grading up 1,300g/t silver and 6% copper. A second structure defined by holes T17010 and T17018 to T17022 is dominated by extremely high zinc sulphide mineralization, grading up to 48% zinc and suggests a metal zonation in the mineralization. In addition to the area currently being drilled we have opened up an additional 350 meters of historical workings along the east-west trend of the sulphide mineralization which was announced in January 2018. This channel sampling program clearly shows the continuation of high grade mineralization towards the west. Our underground geological mapping of this area shows a number of high angle structures up to 2 meters wide containing sulphide mineralization grading up to 1,300 grams per ton silver, 42% zinc, 18% lead, and 13% copper that appear to feed into the overlying oxide zone. This will be the next target of our drill program in this area”.