Category: Exploration and Development

Gordon Babcock, Chief Operating Officer of Sierra Metals Inc. commented: “We are pleased with the updated Resource report and the quality of the defined areas within the Report for the Cusi mine. A 15,000-meter drill program has been in execution at Cusi since December 2016 and has recently been completed, it is important to note that this data has not been incorporated in this resource report. Drilling took place at the Santa Rosa de Lima zone with good results reported to date and the balance of the assay results expected shortly. With the delineation diamond drilling program complete and subsequent exploration programs underway at the Santa Rosa de Lima zone in addition to other areas on the property, potential increases have been targeted with a goal of increased tonnage and grade at Cusi mine.”

Neil Woodyer, CEO stated “The infill drilling results are exceptional and confirm the widths and grades in the widest and higher grade portion of the Bermejal Underground deposit. We are initiating a $7.7 million step-out and infill drilling program of 56,000 metres to add more resources to Bermejal Underground. Los Filos currently operates two open pit mines, Los Filos and Bermejal, and one underground mine at Los Filos. The Bermejal Underground project presents the opportunity to develop a second underground mine to both expand gold production and extend mine life. The results to date confirm the high quality and significant exploration upside potential of Bermejal Underground.”

Mr. David Wolfin, President and CEO stated, “We are extremely pleased with the very attractive economics of the Oxide Tailings Resource PEA. These positive results will enable us to plan the next steps, identify any additional studies and move forward in advancing the oxide tailings project. We intend to follow the recommendations contained in the Technical Report, which will include the pre-feasibility phase, and we continue to review alternative approaches for the storage of existing tailings.”

Jim Williams, Chief Executive Officer of Arian commented: “The Option Agreement reflects the beginnings of our new strategy to diversify from exclusively exploring silver deposits, allowing us to seize opportunities in growing markets, such as lithium, as they arise.

J. Duane Poliquin, Chairman of Almadex commented, “Drilling continues to expand our Norte target but fieldwork on the Villa Rica zone has been rewarded with these exciting surface samples from recently discovered outcrops. The channel samples along with recently announced outcrop, subcrop, and float sample results upgrade the potential of this zone. Further surface work is underway at Villa Rica preparatory to drilling”.

Colibri would also like to report that Agnico Eagle Mines Limited has started a drill program with two drills on the Pitaya property in Mexico, which is a joint venture property between AEM and Colibri. AEM is the project operator on this property. Colibri will release the results from this drill program when they become available from AEM.

Akiba Leisman, Executive Chairman and Interim CEO states that “an intercept of 15.55 grams per tonne gold over 15.45 meters in an open pit heap leach mine is extraordinary, but it is not unique at our mine. These are grades higher than what was mined in December and January when the company sold approximately 20,000 ounces of gold at less than $300 per ounce total costs. We are well advanced on our south pit layback, and we are excited to be mining this type of high grade mineralization later this year.”

“We are excited for our Arista Mine’s continued growth with these latest Switchback vein system high-grade gold and silver results,” stated Mr. Jason Reid, CEO and President of Gold Resource Corporation. “This bodes well for the Switchback vein system growing as big as, if not larger than, the Arista vein system. Mine development on several levels of Switchback continues. We target bulk tonnage mining this area in 2018, as we intend to develop a substantial portion of this exciting expansion of the Arista Mine during 2017.”

Timmins CEO, Greg McCunn, commented: “This is a major de-risking step in the advancement of our Ana Paula Project. Receiving the approval of the MIA from SEMARNAT adds to our confidence in executing the project in accordance with our timeline. We expect to publish our Pre-Feasibility Study for the project later this quarter which will substantially improve upon our confidence in the mineral resource, the metallurgy and the project economics.”

Neil Woodyer, CEO stated “Today marks a strong beginning for Leagold with the Los Filos mine becoming our platform for growth. We have transformed into a low-cost gold producer in Mexico and we will immediately focus on optimizing the mine and progressing the drilling programs and related preparation work for the development of a new underground mine at Bermejal. We look forward to working with the Los Filos management team, the Los Filos workforce, and our local community partners as we develop and expand Los Filos for long-term success. In addition, we continue our search for additional acquisition and growth opportunities in Latin America, as we seek to grow into a multi-mine operator and create the next intermediate gold producer.”