Category: Exploration and Development

“We are very pleased to find this high-grade intersection on what appears to be a south-east extension of the Main Zone.” says Colibri President & CEO Ron Goguen. “Additional holes of the Phase 1 program will test for continuity within the Main Zone and further step-outs along the mineralized trend to the south-east as well as the north-west.”

Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) reports drilling results for the Los Filos Underground mine in Mexico. Highlights are from the Nukay, Conchita and Creston Rojo deposits and include 24.2 grams per tonne over 4.10 metres; 23.6 gpt over 6.95 metres; and 9.1 gpt over 8.69 metres respectively.

United States Antimony Corporation (NYSE American: UAMY) reported progress on the construction of the leach plant for the Los Juarez gold-silver-antimony deposit in Queretaro, Mexico. The excavation and lining of the tailings pond is the largest and most expensive project, and it is underway. The concrete floor of the leach plant is being poured and initially no building will be necessary over the floor. Much of the equipment is being assembled in Montana and also in Mexico. Testing and shake-down of the plant is anticipated in Q4 2018.

Marcio Fonseca, Goldplay’s Chief Executive Officer,stated, “We are extremely pleased to have completed the San Marcial option agreement. The San Marcial Project together with the El Habal Project form the cornerstone to the discoveries, resource and project developments for Goldplay in the Rosario Mining District.”

The Phase One drill program consisting of up to 20 holes with a combined meterage of approximately 3,000 m is anticipated to begin in the next month and will prioritize areas associated with the extension of the Nicho Main deposit to the NW and SE, as well as additional holes at Nicho Norte testing continuity into the contiguous Los Verdes claims (Nicho Norte is currently undergoing bulk heap leaching tests to determine optimal crushing sizes for the potential development of a commercial heap-leach mining operation).

Christian Grijalva, San Marco’s Vice President stated, “We are fortunate to have been awarded a mineral concession covering part of what we believe is a district scale, highly prospective mineral endowed region. Preparations are being made to initiate an exploration program to evaluate the potential of Suanse.”

Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) is pleased to announce it has acquired a new mineral license in the Palomas Negros area, a prospect that lies 9 kilometers to the northwest of the main deposit at Sierra Mojada. The mineral license acquired is a 68 hectare historical mineral license that had been cancelled for many years by the Mexican mining authorities, and consequently had no official owner, but had not been released for staking until recently. The license covers an area of historical mine workings which has been followed up by Silver Bull with a channel sampling program targeting a historical 120 meter long by 25 meter wide showing continuous high grade mineralization at surface.

Brian Robertson, President and CEO stated, “The very successful field exploration program of trenching, sampling, and mapping at Changaro has outlined an extensive mineralized zone and provided greater understanding of the structural controls of the mineralization. We are very encouraged by these early results and look forward to drill testing this high priority target,”

Golden’s President and Chief Executive Officer, Warren M. Rehn, notes, “The weighted average of silver grades of the intervals reported here is higher than the previously reported silver grade of the mineral resource at Santa Maria. We expect an improvement in the overall mineral resource and of the economics of the project because of this. We will update the resource and the PEA as expeditiously as possible.”

Taj Singh, P.Eng, President & CEO stated, “First assay results from the sampling program at Puerto Rico validate our thesis that there is a significant amount of mineralization remaining in and around the historic underground workings. The results also indicate impressive continuity of the mineralization over the entire area of workings assayed to date. For the next three months our focus will be to continue to systemically map and sample Puerto Rico. We will have a refined geological model for the Project and a substantial number of high-priority drill targets ahead of our anticipated drilling program in Q3. In addition to the exploration program at Puerto Rico, the detailed mapping and sampling programs at the Minerva and Monclova projects are progressing on schedule with first assay results expected shortly.”