Category: Exploration and Development

Reflecting on Millrock’s current exploration activities, President and CEO, Gregory A. Beischer, stated: “During the industry downturn Millrock moved boldly to grow its property portfolio. Now that metal prices and investor sentiment have improved, we are ramping up exploration efforts significantly. With robust drilling budgets now in place, we have a good chance to make a discovery that will benefit all Millrock shareholders.”

Glenn Jessome, President and CEO of Oceanus reports, “The high-grade gold-silver-base metal mineralization in the Caleigh Vein is an exciting new discovery on the El Tigre property. Our exploration team is mapping and sampling the underground exploration tunnels in advance of drilling the new/y discovered Caleigh Vein and the Protectora Vein”.

Allan Barry Laboucan, President and CEO of Alset said: “This program at La Salada was the first chance for Alset to carry out a significant drill program to get a better understanding of the chemical compositions in the near surface brines as well as soils down to an average of 14 metres. An important attribute of our salars that became very clear was the cost of exploration compared to similar work in remote locations. We are experiencing the benefits of good roads and power that will continue to enhance the project as we move forward to do more testing to better understand the potential of La Salada and our other salars. In the event of a mine being built the infrastructure will continue to enhance the economic potential.”

Bob Willis, San Marcos CEO stated, “Our core drilling, the first on the property, has allowed us to recognize a new Intrusive related gold breccia system, the magnitude of which is unknown at this time. The area will be remapped to determine the surface extent of the breccia. Our widely spaced Phase I drill holes indicate the breccia is open to depth and laterally in all directions. While we need to understand zoning and other possible controls on gold emplacement in order to target the best areas in future drilling, we are highly encouraged that most core containing breccia assayed to date exhibits at least anomalous (greater than 50 ppb) gold values. It will be exciting times as we work to define the magnitude of the system, refine and better understand the geological model and locate zones of mineralization with economic interest. San Marco is taking this discovery very seriously and has engaged a team of experts who will immediately create and execute an aggressive exploration program. We are targeting mid-September for the completion of a definitive go forward plan”.

Golden Minerals President and Chief Executive Officer Warren M. Rehn commented, “With nearly $5 million in the bank and a steady income stream projected from the lease of our oxide plant, Golden Minerals is poised to re-emerge as a silver producer in Mexico. We are continuing exploration at our Santa Maria project with excellent potential for additional resources along the strike of the vein system on our newly acquired ground. We are very pleased that Ing. Martinez has joined our team, adding his extensive operational expertise and Mexico experience. Our sulfide mill in Velardena remains in excellent condition, ready to operate, and Ing. Martinez will be evaluating potential operating scenarios for near term production either from our Velardena mines or other nearby sources. And finally, the recent drilling success at our Celaya project bodes well for the future as our partner continues drill testing.”

Thomas Atkins, President and CEO of Mammoth commented on the channel sample results stating:”These results are consistent with what we’ve seen in drill core and surface samples and are typical of High Sulphidation systems. We’d previously collected hundreds of chip samples over the large 15 square kilometre mineralized area on the property with many of these samples assaying from a couple of grams gold per tonne to as much as 75 grams gold per tonne combined with lower grade mineralized intervals. What’s impressive with these channel samples is we’re seeing attractive potentially economic grades in material over continual widths of 23 to 50 feet with extensions to these mineralized intervals limited only by available outcrop. Being on surface and given gold on the property occurs as free gold and amenable to heap leaching these grades are comparable to numerous economically robust open pit heap leach mines in operation in Mexico.”

Akiba Leisman, Executive Chairman and Interim CEO of Marlin states that “this acquisition is a great transaction for both companies. Marlin gets to acquire an advanced exploration asset in one of the most prolific mining jurisdictions in the world for an attractive price, and Santacruz emerges as a debt free silver producer. The potential of Gavilanes is substantial, and we are proud to use the full extent of our technical and financial capabilities to advance the project and add substantial value to Marlin shareholders.”

La Delegación de la Secretaría de Medio Ambiente y Recursos y Naturales (Semarnat), dio un permiso de seis meses a la Minera Caballo Blanco, SA de CV, para realizar actividades de exploración minera en el lugar conocido como el Socavón La Paila, en Alto Lucero.

United States Antimony Corporation reported major cost reductions at its Mexican antimony smelter. As a result of metallurgical changes, the Company has drastically cut costs and increased production rates. The approximate reductions for fuel costs are 50%, electricity 55%, and reagents 75%. Maintenance and other costs are being evaluated. Extra manpower will be assigned to processing Los Juarez production. The Company expects to see these lower costs impacting the Company’s reported financials beginning in Q3 2017.

J. Duane Poliquin, Chairman of Almadex commented, “Since the Norte Zone discovery we have been carrying out a systematic drill campaign to define this target. While a broad lower grade zone envelopes the high grade mineralisation we have intercepted, it is clear that a discrete high grade gold copper porphyry system may be a target for our drill program, and this hole helps to further define the high grade zone that is emerging from the drill program. In other matters, in response to growing investor interest since our discovery at the Norte Zone, we have chosen to have Almadex’s shares upgraded to the OTCQX from the OTCQB® Venture Market, enabling even greater exposure and accessibility to our expanding U.S. and global shareholder base. Almadex will continue to trade under symbol “AXDDF” on the OTCQX and looks forward to broadening its shareholder base further through the OTCQX platform.”