Category: Exploration and Development

El Gallo Mine, Mexico – Overcoming Challenges

Production in Q3 was 7,213 gold equivalent ounces, compared to 11,849 gold equivalent ounces during the same period in 2016. Production in Q3 continued to be below our expectations as a result of a serious mechanical failure at the end of July that removed the crushing circuit from operation. As a result we were unable to crush and place fresh ore to leach on the leach pad for a period of time. We currently have almost twice our normal crushing capacity available for the remainder of the year. Production is improving on account of the increased throughput, and access to better grades of ore in the pit that was predicted in the second half of the year. Increased production in Q4 will partially compensate for the shortfall experienced to date.

Warren Bates, P. Geo., the Company’s Director of Project Investigation said: “We are very pleased with the results of the soil sampling program, which has significantly extended the potential strike length of known gold bearing veins and has defined a very prospective intersection of a new vein corridor target and the Serpiente Dorada vein. The combination of initial rock sampling and mapping, results of the recent soil sampling, and the three-dimensional view provided by the project’s 900 metre vertical cliff side topography and colonial era adits, allow us a very helpful perspective of the vertical size and potential of the high-grade gold veins in the project area. We await the conclusion of the mapping and sampling programs over the main Cascaron gold vein field that will allow us to finalize several drilling locations for our initial drill program.”

Liberty Star Uranium & Metals Corp. announces with great sadness that Dr. John Guilbert, a respected and valued member of the Liberty Star board of directors, passed away around noon on October 17th at the Oro Valley Hospital near his home.

The 2017 drilling on the Cerro Las Minitas project, Durango Mexico totaled approximately 13,600m in 18 drill holes and successfully identified and extended the new Skarn Front zone of mineralization beneath the Blind and El Sol deposits. Data compilation and modelling continues on the new mineralized zone that will be incorporated into an updated Mineral Resource Estimate due in the coming weeks. Surface work continues on the newly acquired Biznagas, Los Lenchos and Creston Del Oro claims, which are targeting precious-metal-enriched, volcanic-hosted, epithermal vein systems similar and on trend to the Avino Ag-Au mine and the adjacent San Sebastian Mine.

Riverside’s President and CEO, John-Mark Staude, stated: “We see great discovery potential at Peñoles and will provide shareholders with additional updates on our progress as we make advancements towards a new partnership or self-funded drill campaign. We are committed to creating value through discovery and have updated our approach to budget for more self-funded exploration and drilling in addition to all of our partner-funded activity. We are currently engaged with prospective partners on several of our projects and we are confident that the Company will be able to deliver multiple new drill programs during this year’s winter season.”

Neil Woodyer, CEO stated: “The drilling program has been very successful in adding mineral resources, as demonstrated by the significant increase in the interim Measured and Indicated Resources and additional Inferred Resources reported on October 16. Our drilling program is continuing with 13 active drill rigs and 41 additional holes to be completed by year end. The exploration program at Bermejal is exceeding our expectations.”

“This is an exciting milestone for Corex and a culmination of a tremendous amount of work that started with the Company’s discovery of Santana and is now a working partnership with Chester Millar and the MDG technical team. This collaboration has greatly assisted in advancing the development test work and successfully recovering the first gold from the property.” said Doug Ramshaw, Corex’s President and CEO.

“We are excited to be moving forward with Tejamen, by developing future drilling plans to test high grade mineral potential. When surface access is obtained we will be well positioned to commence drilling” stated Carlos Espinosa, President of Monarca Minerals Inc. “We plan a very active year to advance and further define the resource potential within our projects”.

“Consolidated production in the third quarter returned to higher levels compared to the prior quarter,” said Keith Neumeyer, President & CEO. “At La Encantada, improvements in throughput and silver grades allowed for a 62% increase in silver production. At Santa Elena and San Martin, total production at each operation beat guidance due to continued strong grades and higher recoveries. At La Parrilla, oxide production improved due to higher grade ore being sourced from the San Marcos mine. Lastly, as a safety precaution following two major earthquakes that struck near the La Guitarra mine in September, we temporarily suspended production for a total of eight days to allow for a full inspection of the operation. The inspection revealed no significant risks or damages allowing for the restart of production.”

Mexican Gold Corp. is pleased to announce the preliminary results of geophysical surveys at its Las Minas project, Veracruz State, Mexico. The Company engaged Geotem Ingenieria S.A. de C.V. of Mexico City to complete approximately 50 line kilometres of ground magnetic and 15 line kilometres of Moving Loop Time Domain Electromagnetic (TDEM) programs at the El Dorado / Juan Bran, Cinco Senores and Las Minillas mineralized zones. Together, the ground magnetic and TDEM geophysical surveys identified multiple high priority drill targets at the El Dorado/ Juan Bran, Cinco Senores and Las Minillas zones.