Category: Exploration and Development

The drilling is part of a planned 6,900m program to test 3 of Prospero’s projects under the terms of the recent strategic investment from Fortuna Silver Mines Inc. Prospero is planning to drill four holes at Matorral project, followed by eight holes at its Petate project, and then by eight holes at Pachuca SE. This drilling program is under the terms of Prospero’s strategic agreement with Fortuna Silver Mines. Drill collar maps for Matorral will be available shortly on Prospero’s website.

Radius Gold Inc. is pleased to announce that it has signed a binding agreement with a private individual to option the 380-hectare Amalia Project which is host to high grade epithermal silver-gold mineralization. The Project is located approximately 25 km SW of the historic Guadalupe y Calvo mining district in Chihuahua, Mexico. During due diligence evaluation Radius geologists sampled bonanza grade outcrop containing 20.4 g/t Au and 5360 g/t Ag from a 1.2m chip.

Gold mineralization is confined to low angle quartz “mantos” (0.10 to 3.0m wide), which contain drag folds, evidence of shearing and are transected by steep faults associated with mineralized quartz veins A chip channel sample 0.93m wide returned 22.2 g/t gold. Where observed, the quartz mantos are generally oriented with a WNW-ENE strike and moderate dip to the north and are believed to be of orogenic origin.

Harvest Gold’s’ President and CEO Rick Mark states: “As we promised our shareholders we are now beginning our Phase 1 exploration program at Cerro Cascaron. I am impressed with the technical team’s attention to detail and their very specific objectives. We will provide regular updates as we prepare for a minimum 3,000 metre drill program at this highly prospective property the fall of 2017.”

The agreements provide continuing access and use rights needed for the Samalayuca Copper Project as the Company is focused on a pilot mining startup.

Fred Stanford, President & CEO of Torex stated: “Going from discovery to first tonnes processed in less than eight months is a testament to the planning ability and the execution skills of our team. The quality of the asset speaks for itself. Infill and step-out exploration drilling programs for the Sub-Sill are ongoing. A mine plan is expected to be published after the infill drill program is completed, the resource estimate is updated, and a maiden Sub-Sill reserve is determined. This is all scheduled to occur by the end of the year.”

“The Veta Grande and Minillas properties together with our Zacatecas properties represent one of the largest and most historically important land packages within the Zacatecas mining region, and we are very pleased to have this agreement in place which gives us the opportunity to consolidate our mineral interests in the area.” stated Arturo Préstamo, President and CEO of Santacruz. “This is another important step in our plan to expand our Zacatecas operations into a larger district play, and we look forward to its continued development as part of Santacruz’s transition into a mid-tier Mexican silver producer.”

Brian Robertson, President and CEO, stated, “The exploration program is focused on three high priority mineralized zones at Las Minas. The program combines a geophysical survey with expansion and discovery diamond drilling and preliminary field exploration work. We believe the program will expand the resource at El Dorado – Juan Bran and lead to the discovery of new zones of mineralization at both Cinco Senores and Santa Cruz. The Pueblo Nuevo concession, with its numerous historical high-grade mines, is a high–priority target area.”

Riverside’s President and CEO, John-Mark Staude, stated: “Given the trench sampling intervals gave disseminated gold values in the range of 0.5-1 g/t Au at the Pitaya Target, we are surprised that this initial drill campaign didn’t manage to replicate these results. We’ve been mapping and sampling the larger Glor tenement finding numerous areas with gold and remain positive on the Project’s potential. So far we’ve developed five target areas and have only trenched and drilled one. The four additional target areas will be field sampled and worked on in the coming months to determine if another drill program will be pursued.”

“We are encouraged by the continuation of mineralization to the southeast of our mine workings, with the Plateros vein locally exhibiting very high grades, particularly in gold,” stated Robert Archer, President & CEO.  “The results of our exploration drilling have given us sufficient confidence to commence drifting in that direction to further evaluate and delineate these zones from underground.”