Category: Exploration and Development

Bob Willis, San Marcos CEO stated, “It is very early days, but we don’t want to understate the potential significance of this discovery. It’s too early to classify this new discovery though it has affinities to both breccia-hosted and intrusive-hosted systems, which are host to some large gold and gold-copper discoveries worldwide made in the recent past.”

“During the second quarter we realized significant improvements in operations as we reached dry mining conditions in mid-June,” stated Brendan Cahill, President and CEO. “Development rates, maintenance and electrical efficiency improved materially, grouting was eliminated and overall mobile pump usage was slashed. In late June, we began to see much higher rates of production, which have averaged 215 tonnes per day to-date in July, an increase of 72% relative to the first half of 2017, with access to fresh, high grade manto mineralization in Rodilla and Guadalupe South. Our next steps are to continue driving development headings to access additional high-grade working faces in the 623 and Pierna mantos and further ramp up production through the remainder of the year.”

Ongoing drilling designed to extend and infill the currently defined JORC mineral resource has continued to intersect significant zinc-lead mineralisation where predicted.

En un comunicado, Alejandra Carlos, gerente de evidencias y manejo de la Coespris, señaló que la planta de osmosis inversa, instalada para obtener agua potable para el consumo humano, al igual que las fuentes de agua que abastecen a la población, en ningún momento se encontraron comprometidas y de acuerdo con las revisiones de campo, presentan condiciones aceptables para su consumo.

J.D. Poliquin, chairman of Almaden stated, “When low sulphidation epithermal precious metal deposits are formed, metal bearing fluid rises from depth, filling fractures with quartz, calcite and precious metal minerals. In the highest mineralised areas of the system, the same fluids can be dispersed through multiple smaller fractures to form a sheeted vein zone or swarm such as we have at the Main Ixtaca Zone. The veinlets that comprise the Main Ixtaca Zone individually carry very elevated gold and silver grades, but as they are spread out within a broad area of limestone host rock, the overall average grade is lower. To have a completely preserved system as at Ixtaca is exciting but unusual as many epithermal vein systems in Mexico have been eroded down to the feeder veins where base metals are often abundant, making them by metal content lead and zinc deposits with high precious metal credits. The intercepts reported today further demonstrate the potential for large tonnage sheeted vein zones, as well as bonanza feeder vein zones below. Our 2017 exploration drill program is targeting both.”

Southern Silver Exploration Corp reported today on its surface float sampling program for the newly acquired Biznagas and Los Lencho claims located contiguous to the larger Cerro Las Minitas property, Durango State, Mexico.

Neil Woodyer, CEO stated “ When we acquired Los Filos three months ago, we anticipated that it would take us approximately six months – Q2 and Q3 – to transition the mine and to operate it in the way we believed it should be. We also expected, that during this transition phase, we would plan the development of the Bermejal Underground mine expansion project. We are now half-way through this period and we have made very good progress. Furthermore, we now expect significant production and cost improvements will be reflected in the results of Q4 and onwards.

“This marks the second exploration alliance Evrim has entered into with Newmont since the Trans-Mexican Volcanic Belt program in 2012”, commented Paddy Nicol, Evrim’s President and CEO. “Combining Evrim’s generative knowledge and capabilities with Newmont’s exploration and BLEG expertise has proven effective and reliable in the assessment of large tracts of ground. Leveraging partner expertise and co-funded capital are the hallmarks of a successful value generator business and forging repeat business with major partners such as Newmont is an indication of Evrim’s execution in growing a high-quality property portfolio”.

Neil Woodyer, CEO stated “these drilling results show the consistency of mineralization along the contacts of the Bermejal intrusive and sill. Infill holes are tightening up the drill hole spacing and will enable an upgrade of the resource classification. These holes are also filling in gaps in the resource model which, when combined with the step-out holes, will increase the overall mineral resource. To date, 18 of the 20 holes drilled have intercepted high-grade mineralization – this high success rate also indicates the potential for both the consistency and expansion of the deposit. In addition to the drilling program, Leagold is also progressing with engineering studies in preparation for underground development. Work to date confirms that Bermejal is a valuable mine development project that will enhance production and extend mine life at Los Filos”.

“Platosa is dry,” stated Brendan Cahill, President and Chief Executive Officer. “The completion of the optimization plan at Platosa marks a significant milestone in Platosa’s history and we now have a system fully implemented to eliminate the major bottleneck on production going forward. With dry operating conditions, our immediate goal is a smooth transition to materially higher rates of production and a return to an industry-leading cost profile in the coming quarters.”