Category: Exploration and Development

The San Rafael zinc-lead-silver underground mine is a brownfield mine being developed in the Cosalá mining district in Sinaloa, Mexico. Americas Silver Corporation (formerly Scorpio Mining) is developing the mine. Construction of the mine started in October 2016 and the first concentrate is expected to be produced in the third quarter of 2017. The mine is expected to produce approximately 1Moz of silver, 50 million pounds (Mlb) of zinc, and 20Mlb of lead over the initial mine life of six years.

“Continuing with our plan to focus on our producing assets within the Company, management has made the decision to divest the Gavilanes Project,” stated Arturo Préstamo, President and CEO of Santacruz. “The Company is transitioning into a multi-mine Mexican silver producer that we expect will generate solid cash flow as we grow. The monetization of Gavilanes would allow us to further improve our operations on the Company’s two producing assets, and, once completed, will serve to fulfill the remaining obligations under the JMET, LLC facility, thereby unencumbering the Company’s assets.”

Galore Resources Inc. wishes to update shareholders on its exploration program. In its news release of May 4, 2017, the Company announced commencement of drilling at its San Jose claim, but since that time the driller encountered many mechanical issues. Ultimately, Galore was forced to abandon the first hole of the drill program and decided to discontinue drilling at this claim.

Glenn Jessome, President and CEO of Oceanus reports, “The bonanza style high grade gold-silver-base metal mineralization in the Protectora vein is an exciting new discovery on the El Tigre property. This could be a new clavos along the El Tigre structure and our exploration team are mapping and sampling the underground workings in advance of drilling this new discovery this summer.”

Teck Resources Limited today announced that its Mexican subsidiary has entered into a binding agreement with a subsidiary of Goldcorp Inc. to purchase its 21% minority interest in the San Nicolás Project located in Zacatecas, Mexico for cash consideration of US$50 million. On completion of the transaction Teck will own 100% of the San Nicolás Project. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2017.

GOLDCORP INC. today announced that the Company has entered into a binding agreement with Teck Resources Limited for the sale of its 21% minority interest in the San Nicolas copper-zinc project, located in Zacatecas, Mexico, for cash consideration of US$50 million.

Two of the first three holes in the recently completed RC drilling campaign have reported material silver mineralisation near surface. Drill holes MSRC033, MSRC034 and MSRC035 were drilled at the southern end of the known Mojardina strike zone to test the southernmost identified surface expression of the system and followed diamond saw channel sampling. Grades across these first reported holes confirm the existence of strong mineralisation at the southern extent of Mojardina and are in line with or better than diamond channel grades at surface. Further interpretation work and drill planning of Mojardina South is already underway.

“It is exciting to see the continued strike expansion of the Switchback vein system with these latest four drill hole results,” stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation. “The continued high-grade polymetallic mineralization within multiple parallel veins at Switchback leads us to believe the Arista Mine is much larger than has been defined to date. Exploration plans for the Switchback vein system for the remainder of 2017 include infill drilling within the known mineralized horizon, as well as testing the northwestern strike extension of this growing epithermal vein system.”

“We are encouraged with the continuing positive developments at the Membrillo Prospect.” commented Arturo Prestamo, CEO of the Company, adding “The previously announced San Rafael vein together with the main Membrillo vein should enhance the overall impact of the Membrillo Prospect on the Rosario Project. Based on these recent discoveries we will re-evaluate and study the overall geological potential of both the Membrillo Prospect and the Rosario Mine.”

Mexus Gold US announced that its JV partner, MarMar Holdings, has been working hard for the last 60 days fine tuning the leaching and recovery operation.  MarMar states the replaced equipment and various adjustments although costing time and money will save both in the long run once production begins in earnest.  These steps are necessary to ensure a smooth running operation and avoid down time.  Metallurgists believe they have perfected the different check points to assure maximum recovery at this time.  Both Mexus and MarMar believe that the start-up problems to date are normal and want all to know that everything is being done to assure great results for years to come.