Category: Exploration and Development

J.D. Poliquin, chairman of Almaden stated, “Today’s results once again show the presence of the high grade veins on the Tuligtic project. While we are now focussed on developing the Ixtaca deposit into a significant precious metals producer in Mexico, and are currently busy with engineering work and studies towards producing a PFS, this exploration drilling demonstrates additional resource potential both laterally and, because we are at the top of a fully preserved epithermal system, future exploration drilling will also test for feeder veins beneath the Ixtaca sheeted vein zone.”

Sonoro Metals Corp., is pleased to announce that it has closed the sale of the Company’s Chipriona project in Mexico to Agnico Sonora, S.A. de C.V., a subsidiary of Agnico Eagle Mines Limited; the details of which are disclosed in the Company’s news release dated December 14, 2016. Sonoro has now received the first payment under the assignment agreement with Agnico in the amount of $650,000. Three additional sequential installments of $650,000, $800,000 and $1,900,000 respectively are due and payable over the coming months following registration of title at Mexico’s Public Registry of Mining, commencing with the registration of title from the original vendors through to final registration under Agnico. This disposition by the Company has been accepted for filing by the TSX Venture Exchange.

The current drill program commenced in September, 2016, and comprises 18 holes in total, for a total of 2,955 metres. Eleven of the holes have been drilled to date, and eight have been assayed. The objective of this program is to explore the area of the Avino Vein System between the San Luis workings and the Elena Tolosa current production area.

Canasil Resources Inc. is pleased to announce that the Company has received the required drill permit and mobilized a drill rig which is currently on site at the La Esperanza silver-lead-zinc project in Durango and Zacatecas States, Mexico. Drilling started on December 17, 2016, with the aim of completing the first drill hole before the year-end holidays. Drilling will then resume early in the New Year for a planned initial program of 1,500 metres to 2,000 metres in 4 to 5 drill holes.

Jim Williams, Chief Executive Officer of Arian commented: “We are pleased that our preliminary exploration work has identified several high-quality targets at Los Campos, where evidence of the presence of two major vein systems has been identified. The Board is confident its exploration properties have the potential to host significant mineralisation.

Silver Spruce Resources Inc. is pleased to provide the latest results from its ongoing reconnaissance and sampling program at its recently acquired Encino De Oro project near Chinipas, Chihuahua, in Mexico. The field crew was led by Leonard J. Karr, CPG, and a third party Qualified Person for Silver Spruce.

Kootenay Silver Inc. announces it has completed 7 holes along the Soledad Structure before the Christmas break. Drilling will recommence in January and results will be reported when received and compiled. This is the 18th hole of the current program with 11 of these holes drilled in to the Ram structure resulting in a new drill discovery.

Mexus Gold US CEO/ President Paul Thompson visited the Santa Elena mine in Sonora State Mexico from December 13th through the 17th. Mr. Thompson reports that the Merrill Crowe is being installed and will be operational in January 2017.

Azure Minerals reports that it has been advised by Minera Teck S.A. de C.V., ultimately a 100% owned subsidiary of Teck Resources Limited, Canada’s largest diversified resource company, that Teck intends to exercise its right to earn back an ownership interest in the Alacrán Project in Mexico.

Red Tiger Mining Inc. announces that it has ceased mining operations at Luz del Cobre copper mine. The Company has made this decision after completing an infill drilling program designed to better delineate the oxide-sulphide copper boundary in North and South pits.