Category: Exploration and Development

San Marco Resources Inc. announces the results and recommendations of the recent Chunibas Project exploration program. As noted in the Company’s news release dated August 9th, 2017 regarding the Chunibas property, the discovery of breccias in the recent core drilling program has lead to the re-mapping of surface outcrops property wide, re-logging of the core, and generation of a revised exploration program based on the new, larger porphyry-related breccia gold model/target. As a result of this recent geological work, drilling is recommended, following a few additional surface exploration activities outlined below.

“Obtaining approval for our Change of Land Use application is the second major milestone in the permitting of Ana Paula after approval of our Environmental Impact Assessment back in April,” said Greg McCunn, Chief Executive Officer. “As we launch an exciting exploration initiative to enhance the already robust economics of Ana Paula, we are also continuing to move the Project forward towards an investment decision in the second quarter of 2018. Now that major permitting milestones are behind us, our focus is on completing the definitive feasibility study and arranging project financing. In addition, we are enhancing community and social efforts to ensure we continue to maintain respectful and mutually beneficial relationships with the surrounding communities.”

Thomas Atkins, President and CEO of Mammoth commented on the channel sample results stating: “With all 14 channel sample results reported we’re pleased to be able to report an average grade of 0.77 grams per tonne gold equivalent over 129 metres of channel sampling in 12 of the 14 channels. Two low grade channels were discarded from this averaging while the 12 channels remaining were distributed over more than a 5 kilometre strike length within the 15 square kilometre area of precious metal mineralization at Tenoriba. These are excellent results with lengthy channels separated from one another by hundreds of metres with an average precious metal grade as much as 80% above the reserve grade of profitable open pit heap leach mines currently operating in Mexico. Based on these results, and results from other prior surface work, the company is well underway to prioritizing diamond drill targets for a drill program planned for later this year…”

Como empresa, Peñoles está incluida dentro del grupo de los 15 principales productores de zinc a escala munidal, pero un nuevo proyecto la colocará en la posición 10.

Pete Dougherty, President & CEO stated: “Since breaking ground on construction at San Agustin 10 months ago, I’m pleased to announce we maintained schedule to first gold pour. Also of great importance to the Company is the attention to safety, as we have had zero lost time incidents at San Agustin throughout the project’s construction.”

Telson Resources Inc. reports that there have been no damage or adverse effects at its Mexico City office or either the Campo Morado Mine in Guerrero, Mexico or the Tahuehueto Project in Durango State from today’s earthquake which jolted central Mexico. The earthquake was calculated at a 7.1 magnitude and centred near the Puebla state town of Raboso, about 76 miles southeast of Mexico City.

Fred Stanford, President & CEO of Torex stated: “The current Sub-Sill resource estimate area is approximately 250m x 150m. The high grade results from the step-out drilling in the quadrant to the NW of the resource area, including a 240m step-out borehole, certainly confirm the potential for additional resources in this direction. Step-out drilling near the resource in the NE quadrant intercepted granodiorite in the target area. Longer range step-out drilling is planned to determine whether the intrusive rocks continue in this direction, or if skarn exists on the ‘other side’ of a localized intrusion. To the SW, several boreholes have been drilled and we are waiting for assays. To the SE, we will wait until after the rainy season to drill in this area.”

With Au-Ag mineralization occurring over a vertical interval of 600m at multiple targets over 3.5km strike length, Radius believes there is excellent potential for a significant discovery at Amalia. This initial program has returned encouraging high-grade results. The silica at the main Campamento target is high level with chalcedonic banded and colloform textures and typically low in sulphides. This contrasts with the Guadalupe area located 700m southeast of Campamento and vertically 250m below, where bonanza grade mineralization up to 16.4 g/t Au and 5180 g/t Ag (1m sample) is hosted in sulphide rich veins and breccias. This transition from the rhyolite hosted high level chalcedonic veins to high grade sulphide rich veins within the lower andesites is observed at several of the major deposits of the Sierra Madre gold belt. Radius is currently advancing drill permitting and intends to target wide high grade mineralization within the predicted sulphide zone at depth (200 to 250m) below Campamento.

On September 19, 2017, an earthquake with a magnitude 7.1, according to the U.S. Geological Survey, struck near Mexico City. The city has experienced some severe damage; however, the office staff in Mexico City are safe and have been sent home. The earthquake does not appear to have damaged the facilities of the mining operations in Zacualpan. Post-earthquake inspections at the mines and processing plant are currently being carried out.

Antonio Berlanga, CEO of Telson, states “We are very happy to be able to deliver to our shareholders this exciting key milestone which has secured Telson not only the US$5 million working capital we were seeking allowing Telson to commence full mining operations at Campo Morado but also, very good concentrate sale terms plus an experienced and professional funding partner recognized worldwide as a leading commodities trader. This working capital will now allow us to finalize the mill clean up and refurbishment, that we initiated immediately after acquiring this project, and commence fullscale mining and mill processing in early October”.