Category: Exploration and Development

San Marco Resources Inc. announces further assay results from continuing fieldwork at Chunibas. As disclosed in the Company’s news release dated January 10th, 2018, newly discovered copper and silver mineralization at the Company’s 100% owned Chunibas property has been located over an area of approximately 1.2 kilometres of strike and at least 100 metres of width. That zone has now been extended to 1.7 kilometres of strike and up to 150 metres of width, and open in all directions.

Mark Ashley, Chief Executive Officer of Tonogold Resources, stated “As was in the case of the Lucerne Mine, the identification of this opportunity and the formalization of the present agreement are the result of a number of years of diligent review of numerous opportunities that we had identified in the sector and the subsequent formation of sound commercial strategies aimed at securing control of opportunities that have the potential to become significant and financially robust projects in the near future.”

Akiba Leisman, Executive Chairman and Interim CEO states that “internal studies applying current mining costs along with column leach testing results of drill core at Colinas, indicate that mineralized material from Colinas may be suitable for processing at the La Trinidad Mine. Ideally, material from Colinas would supplement current production before we access the southern part of the high-grade HS Zone in March.”

Fred Stanford, President and CEO of Torex stated “This End-Of-Year (EOY) 2017, update of mineral reserves and resources for the ELG Mine Complex is really all about the underground discoveries at the Sub-Sill. (The mineral reserves and resources for the open pits remain largely unchanged except for depletion.) As anticipated, the Sub-Sill provides excellent near-term cash flow, and is open in at least three directions, which provides for the potential to extend that cash flow into the medium/long term.” He added – “The engineers have done an excellent job in designing a projected low CAPEX operation to manage the complexities of the ore-body geometry. We look forward to continuing the drill program as soon as possible, with the objective of adding and upgrading mineral resources, and ultimately, to profitably extend the mine life.”

Commenting on the drilling campaign, Azure’s Managing Director, Mr Tony Rovira said, “The latest results from the Oposura East Zone continue to be encouraging, with high grade zinc and lead mineralisation being consistently intersected, confirming the continuity of the near to surface, massive sulphide mineralised horizon. While drilling initially focused on the East Zone, drilling is now being conducted concurrently in both the East and West Zones, and results continue to be regularly received.”

Fred Stanford, President and CEO of Torex stated: “The re-start of operations is an encouraging development, as is the support of so many community members and employees. The majority of employees want to return to work, and even in the face of threats of violence and sabotage from the blockaders, they have been returning to the ELG Mine Complex to assist with the re-start of the operations.” He added: “It is unclear whether these threats are a negotiating tactic or an expression of their intention. We certainly hope they are just a negotiating tactic and will not be acted upon. However, we cannot be sure.” Mr. Stanford stated further: “We thank the communities of Nuevo Balsas and Valerio Trujano, the members of the CTM union, and the employees for their public support for the mine and their continued requests for government intervention to enforce the rule of law. Although the uncertainty continues as to whether the rule of law will prevail, great courage has been demonstrated by employees and community members as they look for ways to get the operations re-started for the benefit off all.”

Mexican Gold Corp. is pleased to announce its 2018 Phase 1 Exploration Program at the Las Minas property, Veracruz State, Mexico. The program will focus on resource expansion drilling to increase the initial 43-101 mineral resource estimate as well as exploration drilling to expand known mineralized zones. Additionally, field work will be carried out to identify new mineralized zones.

“We believe that moving ahead with a PEA is the next step to demonstrating value to our shareholders and a quintessential step in our due diligence process”, said Robert Eadie, CEO and President of Starcore. “Our goal is to identify the economic viability of an underground operation and the processing of material on our property.”

San Marco’s CEO, Bob Willis stated: “This most recent discovery is further evidence of the regional implications of this very large mineralized system. Our recent drilling at the Santa Fe target at Chunibas discovered wide intervals of gold mineralization in hydrothermal breccias. Our newest discovery is primarily copper and silver mineralization in a different geological environment, over an area, which is open in all directions. While sampling is, by necessity, confined to outcrop exposures it is important to note that mineralization has been discovered in most exposures within a large and growing area. Every effort was made to generate representative rock chip samples of entire individual outcrop exposures. There is no evidence that this zone was previously explored or sampled. Management considers this new discovery highly significant and is following up on it aggressively.”

Tim Barry, President, CEO and director of Silver Bull states, “350 meters of historical workings were opened up along the east-west trend of the sulphide mineralization we drilled in 2017. This channel sampling program clearly shows the continuation of high grade mineralization towards the west. Our underground geological mapping 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. Our plan for the first part of 2018 is to walk our drill rig along these newly opened up east-west underground workings with the view of demonstrating continuity of the mineralization. The exceptionally high zinc numbers we see in the new area is consistent with what we see in other areas we drilled in 2017 and presents an exciting new target. In addition to the continued drilling along the sulphide trend we expect to have additional results from our 2017 drill program out to the market shortly”.