Category: Exploration and Development

Golden Minerals President and Chief Executive Officer Warren M. Rehn commented, “With nearly $5 million in the bank and a steady income stream projected from the lease of our oxide plant, Golden Minerals is poised to re-emerge as a silver producer in Mexico. We are continuing exploration at our Santa Maria project with excellent potential for additional resources along the strike of the vein system on our newly acquired ground. We are very pleased that Ing. Martinez has joined our team, adding his extensive operational expertise and Mexico experience. Our sulfide mill in Velardena remains in excellent condition, ready to operate, and Ing. Martinez will be evaluating potential operating scenarios for near term production either from our Velardena mines or other nearby sources. And finally, the recent drilling success at our Celaya project bodes well for the future as our partner continues drill testing.”

Thomas Atkins, President and CEO of Mammoth commented on the channel sample results stating:”These results are consistent with what we’ve seen in drill core and surface samples and are typical of High Sulphidation systems. We’d previously collected hundreds of chip samples over the large 15 square kilometre mineralized area on the property with many of these samples assaying from a couple of grams gold per tonne to as much as 75 grams gold per tonne combined with lower grade mineralized intervals. What’s impressive with these channel samples is we’re seeing attractive potentially economic grades in material over continual widths of 23 to 50 feet with extensions to these mineralized intervals limited only by available outcrop. Being on surface and given gold on the property occurs as free gold and amenable to heap leaching these grades are comparable to numerous economically robust open pit heap leach mines in operation in Mexico.”

Akiba Leisman, Executive Chairman and Interim CEO of Marlin states that “this acquisition is a great transaction for both companies. Marlin gets to acquire an advanced exploration asset in one of the most prolific mining jurisdictions in the world for an attractive price, and Santacruz emerges as a debt free silver producer. The potential of Gavilanes is substantial, and we are proud to use the full extent of our technical and financial capabilities to advance the project and add substantial value to Marlin shareholders.”

La Delegación de la Secretaría de Medio Ambiente y Recursos y Naturales (Semarnat), dio un permiso de seis meses a la Minera Caballo Blanco, SA de CV, para realizar actividades de exploración minera en el lugar conocido como el Socavón La Paila, en Alto Lucero.

United States Antimony Corporation reported major cost reductions at its Mexican antimony smelter. As a result of metallurgical changes, the Company has drastically cut costs and increased production rates. The approximate reductions for fuel costs are 50%, electricity 55%, and reagents 75%. Maintenance and other costs are being evaluated. Extra manpower will be assigned to processing Los Juarez production. The Company expects to see these lower costs impacting the Company’s reported financials beginning in Q3 2017.

J. Duane Poliquin, Chairman of Almadex commented, “Since the Norte Zone discovery we have been carrying out a systematic drill campaign to define this target. While a broad lower grade zone envelopes the high grade mineralisation we have intercepted, it is clear that a discrete high grade gold copper porphyry system may be a target for our drill program, and this hole helps to further define the high grade zone that is emerging from the drill program. In other matters, in response to growing investor interest since our discovery at the Norte Zone, we have chosen to have Almadex’s shares upgraded to the OTCQX from the OTCQB® Venture Market, enabling even greater exposure and accessibility to our expanding U.S. and global shareholder base. Almadex will continue to trade under symbol “AXDDF” on the OTCQX and looks forward to broadening its shareholder base further through the OTCQX platform.”

“We are excited to begin the first systematic drill program in this historic district. Starting with a number of strong targets on the primary veins that historically produced an estimated 200 Moz silver, we especially look forward to drilling what could be virgin high-grade veins in the down-dropped fault blocks running parallel to the primary veins,” stated Darrell Rader, President and CEO. “Our piano-key structural model indicates that these vein targets are exposed at such a high level that the historical miners did not recognize their potential. If our model is correct, we could dramatically expand the district’s mineralized footprint.”

N. Eric Fier, CPG, P.Eng, President and CEO, remarked, “We continue to successfully explore and expand our high-grade footprint at the Las Chispas Property through systematic drilling on multiple veins. A high-grade intercept of 1.9 metres grading 50.56 grams per tonne gold and 5,018.8 gpt silver or 8,803 gpt silver equivalent shows intact bonanza grades in the Giovanni Vein. Our ongoing underground rehabilitation, sampling and drill-testing of the various veins continues to discover unmined areas with grades similar to reported historic production grades estimated at 15 gpt gold and 1,700 gpt silver or 2,875 gpt AgEq*. Although our primary drilling focus has shifted to the larger nearby Babicanora Vein, the Giovanni and William Tell veins continue to show further potential for high-grade mineralization. Given recent new discoveries and the expansion of the high-grade footprint of the district, we are again expanding our Phase II program until the end of 2017.”

Golden Minerals President and Chief Executive Offier Warren M. Rehn commented, “We are very pleased to further cement Golden’s strategic relationship with Hecla through the extension of our lease agreement. Hecla’s investment in Golden demonstrates confidence in our future. Extending this lease will provide Golden with a steady stream of cash for the next three-plus years, which allows us to continue efforts on other development and exploration projects, including locating material to run through the oxide mill after the lease with Hecla concludes.”

Radius Gold Inc. is pleased to advise that it has completed the sale of its Tlacolula Property, Mexico to Fortuna Silver Mines Inc. On closing of the transaction, Radius received US$150,000 cash and 239,385 common shares of Fortuna, and has been granted a 2% NSR royalty on the Property. Fortuna retains the right to purchase one-half of the royalty by paying Radius US$1.5 million.