Category: Exploration and Development

Mexican Gold Corp. is pleased to announce the preliminary results of geophysical surveys at its Las Minas project, Veracruz State, Mexico. The Company engaged Geotem Ingenieria S.A. de C.V. of Mexico City to complete approximately 50 line kilometres of ground magnetic and 15 line kilometres of Moving Loop Time Domain Electromagnetic (TDEM) programs at the El Dorado / Juan Bran, Cinco Senores and Las Minillas mineralized zones. Together, the ground magnetic and TDEM geophysical surveys identified multiple high priority drill targets at the El Dorado/ Juan Bran, Cinco Senores and Las Minillas zones.

Fred Stanford, President & CEO of Torex stated: “The start of this in-fill drilling program is a big step in advancing the development of the Media Luna deposit. That development process will be aided by the increased geological understanding and confidence that comes from the drilling program. It will also be potentially enhanced by the optimization of the Media Luna production and service processes, that have been developed by internal teams, while we waited for the financial flexibility to proceed with in-fill drilling. An updated preliminary economic assessment, scheduled for late in Q1, 2018, is expected to illustrate the commercial advantages of the proposed optimized processes. Internal and external study teams are also focusing on design elements that are expected to expedite the permitting process. Pending success of future technical studies, the potential timeline contemplates beginning construction of the Media Luna mine in early 2020, is expected to be financed from internal cash flow, and gold production is expected to begin in early 2022.”

Azure Managing Director, Mr Tony Rovira stated, “The drill program now being put into action by Teck is designed to test two very promising precious metal and base metal targets. We look forward to receiving the results from the program which Azure will report to the market when Teck has completed the program and is satisfied with all quality assurance and quality control requirements.”

ALIX RESOURCES CORP. announces that Perth-based lithium processing technologist, Lithium Australia NL has moved to a 54% controlling stake in the Electra lithium project in northwest Mexico. The project comprises the Tecolote, Tule, and Agua Fria concessions and is currently the subject of a farm-in and joint venture between Alix and LIT. LIT has the right under the JV terms to earn an ultimate 65% holding in Electra. Lithium Australia moved to the majority 54% ownership on completion of a recent drilling program.

Neil Woodyer, CEO stated: “This updated resource estimate includes a 94% increase in the Measured and Indicated resources and underscores the magnitude of the oxide mineralization of the Bermejal Underground deposit. In addition to converting the previously estimated Inferred resources of 678 koz to mostly Indicated resources, the program has also added 820 koz to the new Inferred resource estimate. The exploration success at Bermejal Underground, which drives this resource update, also supports our development plan to expand Los Filos’ gold production rate. The ramp to access the Bermejal Underground deposit recently commenced and has advanced 27 metres as of October 13, 2017.”

Mexican Gold Corp. is pleased to announce that resource expansion drilling has intersected long intervals of strong chalcopyrite, bornite and magnetite mineralization totaling 77.2 metres at the El Dorado / Juan Bran zone at its Las Minas property.

“The turnaround in production at Platosa was clearly evident during the third quarter, with significantly improved tonnage-per-day, grades and costs,” stated Brendan Cahill, President and Chief Executive Officer. “All-in sustaining cost decreased during the quarter to approximately $11-$13 per payable silver ounce. We are now well positioned to continue ramping up production from four mantos through the fourth quarter and to realize a further decrease in AISC and increase in cash flow.”

Fortuna Silver Mines, Inc. is pleased to announcethird quarter 2017 production results from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The Company produced 2.0 million ounces of silver and 13,412 ounces of gold, plus base metal by-products. Silver and gold production for the first nine months totaled 6.2 million ounces and 41,158 ounces respectively; being 2 percent and 5 percent above the Company’s nine month projection. Fortuna is on schedule to produce 8.1 million ounces of silver and 52.4 thousand ounces of gold or 11.2 million Ag Eq1 ounces in 2017.

Silver equivalent production increased by 17% to 760,756 oz*

Gold production increased by 47% to 2,673 oz

Silver production decreased by 10% to 368,456oz

Copper production increased by 6% to 1,106,305 lbs

Mexus Gold US announced that it has retained gold recovery expert Robert Garcia to assist with an increase in production at the Santa Elena mine. To date, the recovery of gold via the Merrill Crowe system has not been adequate due to issues with the chemical analysis and flows. Mr. Robert Garcia is President of Auric Metallurgical Resources in Arizona and has extensive experience with mines and metallurgy. Mr. Garcia is evaluating and customizing the Merrill Crowe gold extraction plant which will help achieve maximum recovery.