Category: Exploration and Development

Prospero Silver Corp is pleased to provide an update on planned drilling of the 430 hectare Bermudez project in northwest Chihuahua close to the border with Sonora in northern Mexico. The Company is planning to drill test Bermudez as part of its on-going 6,950 m reconnaissance drill campaign funded by strategic partner Fortuna Silver Mines Inc.

J.D. Poliquin, chairman of Almaden stated, “These results again show the continuity of the Ixtaca Zone gold silver mineralisation. We are focussed on developing the Ixtaca deposit into a significant precious metals producer in Mexico, and engineering work and studies on a Feasibility Study are progressing well. We are at the top of a fully preserved epithermal system and over the next several months exploration drilling will also test for additional vein zones beneath alteration elsewhere on the project.”

The Company is pleased to announce that it has now received the preliminary report from the 2017 work program on its 100% owned San Timoteo property, located in Chihuahua, Mexico. The program was carried out by a very experienced, independent consulting geologist with intimate knowledge of the property. The program was an expansion of the work conducted in 2016, but with a focus on structural geology and mineralization. It was designed to strengthen and increase the number of drill targets to be tested in the next major drilling program that will include surface and underground drilling to test targets property wide.

“We are excited to begin the first systematic drill program testing the Veta Grande vein east of San Acacio. Our geological model indicates that with the Veta Grande tilting to the south east, historic miners did not recognize the potential of the vein along strike. If our model is correct, we could dramatically expand the district’s silver footprint. With two diamond drills operating, we look forward to a steady flow of drill results over the next three months.” stated Roy Bonnell, President and CEO of Defiance Silver Corp.

Auxico Resources Canada Inc. is pleased to announce encouraging metallurgical results from a 2.095 kg sample (2,095 g) taken from the volcanic breccia hostrock material in the footwall of the Campanillas Mine, which is located in the north-east corner of the Zamora Property. The sample contains 1.98 kg/t of silver (1,980 g/t) and 2.01 g/t of gold. This sample was treated by the Centre for Mineral Technology and Plastics in Thetford Mines in order to optimize the metallurgical extraction of both gold and silver. The recovery of gold was 71.60% and 92.9% for silver, as a result of processing this material by gravity and flotation methods.

“The first gold sold from the Santana property is not only validation of Chester Millar and our technical team’s belief in the open-pit heap-leach amenable Santana property but also the culmination of years of effort from those that preceded him and originally identified the prospectivity of the area. We look forward to completing the ongoing bulk testing and optimization studies and using future gold concentrate production to reconcile the larger scale potential of the core Nicho zones,” stated Doug Ramshaw, President and CEO.

Telson Resources Inc. is very pleased to announce it has signed a term sheet of a Loan Facility and Offtake Agreement with Trafigura Mexico S.A. de C.V., a market leader in the global commodities industry, to sell 100% of the lead and zinc concentrate produced at the Tahuehueto Mine from January 1st 2018 to December 31st 2022. Trafigura will provide Telson with a credit facility of US$15 million upon signing formal agreements, thereby securing the bulk of the capital requirements to construct and operate an ongoing 1,000 tonne per day mining operation at Tahuehueto.

N. Eric Fier, CPG, P.Eng, President and CEO, remarked, “Another milestone has been completed for the Las Chispas Property which continues to show increasing significance as an emerging high-grade silver-gold district. Historically, there were five mills in the district before 1930, four cyanidation and one flotation, which gave us a good indication that the metallurgy would be amenable to standard processing methods. This indication has now been confirmed with testwork showing excellent metal recoveries. The Las Chispas mineralization is similar to that of the nearby producing Santa Elena Mine (constructed by SilverCrest Mines Inc., the predecessor of SilverCrest Metals), which has current metal recoveries of 90% or greater for both silver and gold. With this metallurgical milestone now behind us, we can more confidentially plan for our Las Chispas maiden resource in Q1 2018.”

“Our goals over the last 10 months have been to complete a resource upgrade and deliver a positive Scoping Study and I’m delighted that we have been able to achieve these objectives. We are confident that our strong technical understanding of the project given our access to the ore, existing plant and previous successful concentrate production will enable us to secure the funding necessary to advance the project.”

La minera de oro canadiense Goldcorp Inc reportó ayer miércoles que sus ganancias se dispararon un 88 por ciento en el tercer trimestre, ayudadas por devoluciones del impuesto a la renta y un aumento de las utilidades de su mina Peñasquito en México.