Category: Exploration and Development

N. Eric Fier, CPG, P.Eng, and CEO, remarked, “We continue to be successful with our expansion drilling program with further high-grade intercepts in multiple veins at Las Chispas. This most recent drilling of the Babicanora FW Vein has intercepted high-grade precious metal mineralization along a drill-tested strike length of 250 metres, expanded from the previous 150 metres. We are currently step out drilling with nine core rigs at the Babicanora Norte, Granaditas, Luigi and Babicanora veins including Area 51 southeast extension that has been recently permitted for work. We are systematically working towards an updated resource for Q3, 2018.”

Brian Robertson, President & CEO, stated, “Our on-going field exploration work continues to deliver high-grade assays from historical mines and well as new discoveries within the Pueblo Nuevo mineralized corridor. These results from several high- grade veins clearly demonstrate the extent of the high- grade mineralization at Pueblo Nuevo.”

Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F) is pleased to announce that the 2018 summer work program is now starting. The Company is now in the planning stage for a future possible drilling program on its 100% owned San Timoteo property located in Chihuahua, Mexico. Personnel are now mobilizing to the San Timoteo property to continue the target selection process, including evaluating what road work would be needed to drill the various targets. Previous compilation work on San Timoteo has already defined over 40 drill targets. The current work will prioritize these and the Company intends to drill the top priority target when funding is available.

Carlos Silva, COO of Santacruz, commented; “The Company is excited about the discovery of the three high grade veins at the Armados mine which appear to be within about 20 meters of each other and approximately parallel to the Armados vein. This discovery supports our view of the strong mineral potential of this historical mining district of Zacatecas.”

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.