Category: Exploration and Development

“We are very pleased to see the strong positive impact of the enhanced project scope on the already remarkable economics of the Bonanza Zone,” said George Paspalas, MAG Silver President and CEO. “The PEA considers expanding the throughput from 2,650 tpd to 4,000 tpd, a reformulated ramp system, underground crusher-conveyor system and an internal shaft for expediting extraction of the mineralization towards the base of the previously known resources together with the new Deep Zone resources. The fact that we can accomplish the scaled-up project in a short time period and for a relatively small Capex increase is testimony to the quality of the asset and the insightful experience brought to the project by our partner and project operator, Fresnillo. With over $121 million in cash and cash equivalents as at September 30, 2017, we believe MAG is funded for its share of the development well into 2019.”

Southern Silver Exploration Corp. reported today that it has intersected high-grade massive sulphides in the final hole of the 2017 exploration program at the Cerro Las Minitas project. The massive sulphide intercepts were contained within a broader mineralized zone in drill hole 17CLM-106 that supports continuity within the newly defined Skarn Front.

Torex Gold Resources Inc. announced that during the afternoon of Friday, November 03, a group of approximately 20 local unionized workers illegally blockaded the main gate to the ELG mine, demanding a change in labour union. This action came after a meeting held earlier in the day where the Company explained to these workers that the Company did not have the authority to enact such a change. It could only be accomplished through a government sanctioned process that considered the intentions of the majority of unionized employees. The illegal blockade has continued since then, in a peaceful manner, and no unionized workers remain on site. Without a workforce, the Company shutdown the processing plant in an orderly manner. During the stoppage, there will be a focus on maintaining environmental protections.

Azure Minerals Limited is pleased to advise that the Company’s first drilling program has been completed on its 100%-owned Sara Alicia gold-cobalt project, located in the northern Mexican state of Sonora. The reconnaissance drilling was designed to test the zone of high grade gold and cobalt mineralisation which was historically exploited by small-scale underground mining in the 1930s, and further outlined by Azure’s sampling of surface outcrop and underground exposures which returned high grades up to maximum values of 39g/t gold and 7% cobalt.

“At this early stage in our program, Minaurum has demonstrated exploration success in each of the first three areas tested, discovering wide zones of mineralization and confirming the important concept of blind veins in ‘piano-key’ structural blocks. Strong results such as 694 g/t AgEq* over 20 m support our theory that historic mining operations left behind substantial unexplored and unmined mineralization. We have now moved on to testing further blind vein targets as well as the high-grade silver La Quintera, Nueva Europa, and Gap targets. With over two thirds of our drill program remaining we look forward to releasing further encouraging drill results over the coming months,” stated Darrell Rader, President and CEO.

Brad Langille, President and CEO of GoGold stated, “We are very pleased to complete this Transaction with Agnico. We believe GoGold shareholders are well positioned to benefit from the future potential of Santa Gertrudis through our retained royalty. After this Transaction GoGold will be debt free with a strong cash balance which positions the Company well as the Parral Tailings project ramps up to its full production potential, while also allowing us to continue to pursue further opportunities.”

“Exploration success continues at San Sebastian with the discovery of additional high-grade mineralization that has the potential to extend the mine life. When we restarted San Sebastian we had less than a two-year mine plan and now we see potential through 2020 and beyond. As well, new zones are emerging along both the Middle and Francine veins with similar mineralogy as the Hugh Zone, a 1.5 million ton polymetallic resource, so we see the underground sulphide deposit potentially growing to further extend mine life,” said Phillips S. Baker, Jr., President and CEO. “At Casa Berardi, the exploration confirms our view of the exploration potential we believed was possible when we acquired the property. The surface program is expanding the open pits and the underground is identifying new lenses with good grades. Finally, drilling at Greens Creek has discovered high-grade mineralization high up in the mine which could enhance Greens Creek’s already exceptional mine economics.”

Bacanora CEO Peter Secker said, “Securing access and surface rights for the large and scalable Sonora Project represents another major milestone towards delivering on our objective to develop a world class lithium mining operation at Sonora. Today’s news closely follows the recent Sonora Government Environmental Approval for the Sonora Lithium Project.”

Riverside Resources Inc. is pleased to announce an update of the exploration work being done at the Glor Gold Project in Sonora, Mexico. Positive results obtained by Riverside’s summer program of geological mapping and rock sampling (up to 14.4 g/t Au) have encouraged partner, Centerra Gold Inc. to work up additional geophysical and extensive soil geochemistry surveys designed to focus the selection of drill targets in the central part of the Project. Centerra has been funding exploration at Glor since August, 2016, having entered into an option agreement with Riverside to earn a 70% interest in the Project.

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.