Category: Exploration and Development

Matthew Idiens, CEO commented “As we near completion of the disposal, we are encouraged by the commitment shown by both parties with the interim milling agreement, allowing for operations to recommence at the SDA mill and Magellan taking on a fully operational business at completion. We look forward to updating the market shortly on progress.”

Thomas Atkins, President and CEO of Mammoth commented on the Private Placement stating: “We’re all set to drill. Mammoth’s VP Exploration, Richard Simpson was on site last week with the drill contractor finalizing logistics. Drill equipment will be mobilized shortly and it’s expected we should be able to commence drilling within a week of equipment and personnel arriving on site.

Candente Gold Corp. is pleased to announce that it has entered into a binding letter agreement with Sun River Gold Corp., a private Nevada corporation, to grant Sun River the right and option to further test and, if proven economic, develop and operate the Company’s tailings project in El Oro Mexico through Candente Gold’s Mexican subsidiary, CCM EL Oro Jales, S.A. de C.V., according to the agreement CCM EL Oro Jales executed with the Municipality of El Oro, subject to receipt of regulatory approval.

“The ongoing regional exploration in proximity to the existing underground mine continues to reveal promising results,” Managing Director Will Dix said. The Alfonsitos area, located north west of the current Plomosas mine, has the same geological setting to the mine itself and displays a similar style of mineralisation at surface. This providesfurther encouragement that there is potential for significant new discoveries and additional resource tonnes at Alfonsitos and within the existing tenement portfolio. Our immediate intention is to move straight to exploration drilling at Alfonsitos to determine the extent of the surface mineralisation at depth and continue assessment of other prospects identified within the region.”

Tawn Albinson, the President of Prospero Silver commented: “We were very pleased to encounter gold grades in some of the early shallow reconnaissance holes. The drill plan developed with Fortuna was designed to get a handle on structural controls on the highest priority targets before deeper drilling. We now see a strong correlation between the presence of black jasperoids after limestone and grade. A few more shallow holes will be required over the next two weeks to get a decent picture of the strike and dip of what we think are the controlling structures.”

The Calera project consists of four concessions covering 144 hectares within the Cucurpe Sonora mega-district. The Cucurpe mega-district includes Premier Gold Mines’ Mercedes gold mine, Goldgroup Mining’s Cerro Prieto gold mine, Agnico Eagle’s recently purchased Santa Gertrudis gold mine, and other nearby gold mineralized prospect areas. “Sonoro’s exploration team believes that the Cucurpe gold mega-district has the potential for additional gold discoveries,” said Kenneth MacLeod, President and CEO of Sonoro. “We are pleased to begin immediate exploration of Calera under the direction of our noted geologist Mel Herdrick, Sonoro’s head of exploration in Mexico, who has several gold discoveries to his credit.”

“We have achieved another productive quarter with solid operational and financial results, and are confident that the Company will achieve our internal projected production target for the year. Our mission is to achieve shareholder value by focusing on organic growth which includes our expansion plans at the Avino mine in Mexico, with the addition of Mill Circuit 4, now approximately 75% complete. Additionally, we have drills turning at Avino, and a planned surface and underground drill program at the Bralorne Mine in British Columbia. The support and dedication of our teams in Mexico and Canada are greatly appreciated and instrumental to the success of our operations.”

“We are very excited about this project”, said Marc Prefontaine, CEO of Orla. “Camino Rojo is an advanced project with historic oxide gold and silver reserves, sulphide resources and a largely unexplored land position in a highly-prospective area. Crews are on-site preparing to commence a large work program with four priority goals: complete an updated resource estimate on the project; advance the oxide portion of the deposit as quickly as possible to a production decision for an open pit mine and heap leach extraction facility, continue evaluation of the sulphide portion of the deposit, and, commence exploration on several known gold and silver targets previously identified on the large 200,000 hectare land position.”

GOLDCORP INC. is pleased to announce the completion of the previously announced sale of its interest in the Camino Rojo oxide project, located in Zacatecas, Mexico to Orla Mining Limited. The closing follows receipt of Mexican anti-trust approval and the satisfaction of closing conditions customary in a transaction of this nature.

Fred Stanford, President & CEO of Torex, stated: “This escalation will weaken the relationship between employees and the company and between contractors and the Company. Upon resolution of the illegal blockade, the schedule to restart the operations will be dependent on how many personnel elect to return to site. This is an unknown outcome, at this time.”