Category: Exploration and Development

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.”

“We are excited to begin the first systematic drill program in this historic district. Starting with a number of strong targets on the primary veins that historically produced an estimated 200 Moz silver, we especially look forward to drilling what could be virgin high-grade veins in the down-dropped fault blocks running parallel to the primary veins,” stated Darrell Rader, President and CEO. “Our piano-key structural model indicates that these vein targets are exposed at such a high level that the historical miners did not recognize their potential. If our model is correct, we could dramatically expand the district’s mineralized footprint.”

N. Eric Fier, CPG, P.Eng, President and CEO, remarked, “We continue to successfully explore and expand our high-grade footprint at the Las Chispas Property through systematic drilling on multiple veins. A high-grade intercept of 1.9 metres grading 50.56 grams per tonne gold and 5,018.8 gpt silver or 8,803 gpt silver equivalent shows intact bonanza grades in the Giovanni Vein. Our ongoing underground rehabilitation, sampling and drill-testing of the various veins continues to discover unmined areas with grades similar to reported historic production grades estimated at 15 gpt gold and 1,700 gpt silver or 2,875 gpt AgEq*. Although our primary drilling focus has shifted to the larger nearby Babicanora Vein, the Giovanni and William Tell veins continue to show further potential for high-grade mineralization. Given recent new discoveries and the expansion of the high-grade footprint of the district, we are again expanding our Phase II program until the end of 2017.”

Golden Minerals President and Chief Executive Offier Warren M. Rehn commented, “We are very pleased to further cement Golden’s strategic relationship with Hecla through the extension of our lease agreement. Hecla’s investment in Golden demonstrates confidence in our future. Extending this lease will provide Golden with a steady stream of cash for the next three-plus years, which allows us to continue efforts on other development and exploration projects, including locating material to run through the oxide mill after the lease with Hecla concludes.”

Radius Gold Inc. is pleased to advise that it has completed the sale of its Tlacolula Property, Mexico to Fortuna Silver Mines Inc. On closing of the transaction, Radius received US$150,000 cash and 239,385 common shares of Fortuna, and has been granted a 2% NSR royalty on the Property. Fortuna retains the right to purchase one-half of the royalty by paying Radius US$1.5 million.

“Sarape displays many similarities with Evrim’s Ermitaño project discovery where exploration partner First Majestic drilled 18 metres grading 11.4 g/t gold,” commented Charles Funk, Evrim’s Vice President of New Opportunities and Exploration. “Common to both projects are prominent outcropping broad veins with low to moderate grade gold and silver at surface. A key observation lies in the recognition of textures within the veins at surface which commonly occur above concealed high-grade ore-shoots.”

Brian Robertson, President and CEO, commented, “We are extremely encouraged by this substantial initial Mineral Resource Estimate. The fact that the two zones remain open to expansion both laterally and at depth, when combined with the additional six largely untested mineralized zones, clearly demonstrates the potential to expand resources at Las Minas. Additional drilling is scheduled for commencement to expand the initial resource estimate for these two zones and test other high priority targets. Results will be released as they become available. The Mineral Resource Estimate marks a very important milestone for the development of the Las Minas property and a significant event for our shareholders.”

“The mine has returned to normal tonnage and metal production under interim COO Ralf Kleine. Our very strong cash position and balance sheet coupled with the ramping up of our Altiplano processing facility will open us to opportunities to potentially increase production.” reported Robert Eadie, President of the Company.

Telson Resources Inc. is pleased to announce that processing of Tahuehueto ore for mineral recovery at the Atocha toll mill is underway. It is planned to process the ore at 300 tonnes or more per day.

Neil Woodyer, CEO stated “Development of the exploration ramp is an important step in advancing Bermejal Underground towards production. The ramp will provide access to the eastern and central portions of the deposit. The mineralization is similar to the Los Filos Underground deposits where we are currently mining, and this development provides an opportunity to carry out additional exploration from underground as well as demonstrate the minability of Bermejal Underground. Access to the ore body will also provide a larger sample for confirmatory metallurgical testwork for heap leaching. These steps will advance the deposit towards declaration of reserves and incorporation into the mine plan.”