Category: Exploration and Development

Neil Woodyer, CEO, stated “We are extremely pleased with the 59% increase in P&P reserves at Los Filos, which reflects the success of our 2017 programs focused on extending mine life.Furthermore, this growth we are reporting today excludes any additional contribution from the Bermejal Underground expansion project, which has M&I resources of 2.1 Moz of gold (see Table 3) at a grade of 5.96 g/t, as reported as of December 31, 2017.The Bermejal Underground expansion is currently in the mine design phase in preparation for declaration of reserves in mid-2018. With the exploration success during 2017 and the reassessment of Los Filos’ long-term potential, studies are underway to evaluate building a carbon-in-leach processing plant, enabling higher recoveries for a wider range of ore types.”

“We have made good progress on the exploration program in the first two months of the year” said Greg McCunn, CEO of Alio. “The discovery of two new breccia targets outcropping at surface and within close proximity to the existing Mineral Resource is an exciting development and shows the potential of our 56,000 hectare land package. The surface drilling to test the known extension of the breccia below the proposed pit is designed to allow us to more fully understand the nature and extent of the mineralization ahead of drilling from underground. With the decline construction now fully underway, we expect to be in a position to start drilling from underground in Q3 2018.”

The first phase of this current campaign will comprise 10-12 diamond core holes for approximately 1,000m and is expected to take about six weeks to complete. It is designed to target along-strike and down-dip extensions of the high-grade mineralisation intersected in the 2017 program. Based upon anticipating further success, a second phase of drilling is currently being planned to complete a 50m x 50m drill pattern over the mineralised body.

“The reprocessing operation will offset holding costs and allow the mill to remain in a fully operational status,” said Pierce Carson, CEO. “Meanwhile we are continuing to focus on securing sources of high-grade gold and silver ore that can be trucked to the mill for processing. We are close to being able to announce the acquisition of an attractive property that will allow us to resume mining operations, build production and increase cash flow.”

Millrock President & CEO Gregory Beischer commented: “Some strong results were obtained in this program from the Anchor Zone. Drilling is tentatively planned to resume in April 2018 to test the large gold-in-soil anomalies of the Crossover and Cobre prospects that lie north and northwest of Anchor respectively.”

“Es necesario hacer un trabajo conjunto entre mineras, gobiernos y comunidades en torno a proyectos mineros, dijo Luis Alberto Moreno, presidente del BID, en un panel de discusión organizado por el Consejo Canadiense para las Américas (CCA), organismo dedicado a analizar la relación de Canadá con las Américas.

Kristopher J. Raffle, P.Geo. (BC), Principal and consultant of APEX Geoscience Ltd. (APEX) commented, “The Company is currently reviewing the recently received El Pinguico underground stockpile drilling assay results, and the effect that relatively inconsistent recoveries, and loss of fine material may have on sample grades; and ultimately our assessment of the representivity of sampled material in comparison to the in-situ stockpile. Once the comprehensive review has been completed, the Company will provide a full report.”

“The addition of Rosario to our Cerro Caliche concessions mostly completes the acquisition program for the area of mineralization outlined and partially explored by Corex Gold during their drilling in 2008,” said Kenneth MacLeod, President and CEO of Sonoro. “Our technical team, headed by noted geologist Mel Herdrick, is now focusing on expanding the Corex resource and exploring the many other structural zones with gold mineralization demonstrated throughout much of the concession area.”

“The discovery of the extension of the El Tigre formation to the southeast represents an exciting new chapter in Oceanus systematic efforts to identify new gold and silver mineralization at El Tigre” stated Glenn Jessome, Oceanus President and CEO. “Furthermore, the acquisition of the historical underground sampling results confirms the high tenure of the mineralization in the old workings and instills further confidence in the potential of the unmined Protectora, Caleigh and Fundadora areas where our drilling intersected similar bonanza grade mineralization. We are only starting to unlock the value that exists in this 35-kilometre land package which we believe is a district style project in a mining friendly jurisdiction.” continued Mr. Jessome.

Riverside’s President and CEO, John-Mark Staude, stated: “Riverside has worked hard to consolidate and expand the Cecilia land position, as we did not want to push ahead with drilling until the great property package was tied up. This is a very significant step for us and the Project. Cecilia is a large, high-quality project and now with this key acquisition we lock up at least four new target areas adding significant value to the Cecilia project.”