Category: Exploration and Development

Pete Dougherty, President & CEO stated: “We view the acquisition of the CDG as a low risk, high reward investment for Argonaut shareholders. CDG is a project in our own backyard where we have the ability to leverage our existing operations and projects team’s skill sets. We view CDG as a pipeline project that fits well within our portfolio of Mexican assets. This acquisition is an opportunity to acquire a project within a well-known jurisdiction with known mineral reserves, upside resource potential, excellent infrastructure and at a reasonable investment. With $37 million in cash at September 30, 2017, projected cash flow from operations and an undrawn $30 million corporate revolver, Argonaut will remain in a strong financial position after completing the transaction.”

Brian Robertson, President and CEO, commented: “The results of the recent resource expansion drilling clearly demonstrate the significant potential to expand the resource at Las Minas. The major increase in the strike width of the resource, plus the resource expansion, and the addition of two new zones in hole LM-17-ED-40, bodes well for a significant increase in tonnage. And, more importantly, the long higher grade intervals, grading up to five times greater than the initial resource estimate, will also positively impact the economics of the project.“

Primero Mining Corp. today announced that the Company has entered into an agreementwith Argonaut Gold Inc. to sell its Cerro del Gallo development project located in the state of Guanajuato in central Mexico.

Managing Director Will Dix said while the Scoping Study confirmed the viability of Plomosas as a 100,000tpa zinc project, it also highlighted the opportunity to move to larger-scale operation. “Commencing small-scale production next year is certainly a viable option to generate short-term cashflow with the aim of moving to more significant production within two to three years,” Mr Dix said.

Telson Resources Inc. is pleased to announce it has delivered its first Campo Morado produced zinc concentrates to Trafigura’s warehouse in Manzanillo, Mexico. Since re-starting operations at Campo Morado just three weeks ago the Company is happy to report that the mill is operating from October 29, 2017 on a 24/7 continuous basis and up to November 5, 2017 had produced more than 800 tonnes of zinc concentrate and more than 250 tonnes of lead concentrate.

El Presidente de la Cámara Minera de México, CAMIMEX, Daniel Chávez Carreón, reconoció a Sonora como el estado número uno en el desarrollo minero en el país, al ser principal productor de oro, cobre y molibdeno.

Minera Saucito, ubicada en Fresnillo, ocupa el primer lugar en producción de plata a nivel mundial con 21.9 millones de onzas, ello de acuerdo con The Silver Institute, lo que implica movilidad económica para el estado, sostuvo Juan de Dios Magallanes Quintanar, director de Minería de la Secretaría de Economía.

President and Chief Executive Officer Allan Barry Laboucan said: “With the staking of these new areas we have built up an enviable portfolio of 100 per cent owned prospective lithium salars. Our land holdings now cover over 1 million acres, in two excellent infrastructure rich areas. Historical work and brine extraction by Sulfatos de Viesca from the Viesca salar was confined to the upper 100 metres, the possibility therefore exists that lithium-rich brines exist deeper in the salar. We are looking forward in the near future to an exploration program to identify and confirm lithium bearing brines in these new areas. We are also moving ahead with work to understand the chemistry and leaching characteristics of our Zacatecas salars, we hope in the near term to reach the pilot-plant testing stage as quickly as possible. Our long-term goal is to try to become one of the lowest cost producers of lithium, aided by our fertilizer chemicals as potential credits. Our exploration costs are low and we expect the same when we look toward the development of our lithium salars.”

“Acquisition of the SDA Mill will transform Magellan into a production company and will be an exciting development for our shareholders,” stated CEO Pierce Carson. “With production started already under the interim processing agreement, we have begun to execute on our strategy to resume processing operations, build production and increase cash flow.”

Millrock Resources Inc. is pleased to report that the first phase of surface exploration on the La Navidad gold project is near completion, and a drilling program has begun. The project, located in Sonora State, Mexico, 100 km north of the City of Hermosillo, targets orogenic gold deposits. Highlights of a rock sampling program include: