Category: Exploration and Development

Kootenay Silver Inc. is pleased to report 6 additional core drill holes have been completed and submitted for assaying, with the core drill rig collared on the 7th hole within the La Soledad Zone, located approximately 1,000 meters south of the Company’s established La Cigarra silver resource in Chihuahua State, Mexico.

Riverside’s President and CEO, John-Mark Staude stated, “Riverside is pleased to advance the Clemente Project with a reputable group that has a track record of making discoveries in Mexico including La Preciosa with Orko Silver Corp. and Coneto and Sandra Escobar with Orex Minerals Inc. The Clemente area of Sonora has good surface access, is readily workable year-round, and is in close proximity to open pit gold mines in Sonora. Initial partner-funded exploration is anticipated to commence in the first half of 2017 and we look forward to potential drilling at Clemente in the near future.”

MX Gold Corp. announces that, further to its news release dated October 25, 2016 regarding the entry into a binding agreement to acquire a 50% interest in the Magistral, Del Oro tailings project, the Company paid the second installment of US$750,000 to the owner of the Project as required by the Agreement. Pursuant to an amendment agreement dated November 22, 2016, the parties have also expressed their intention to negotiate in good faith and enter into a definitive agreement in the near future.

Mike England, president of Alix, stated: “We are very pleased with the continuing progress on the Agua Fria clay discovery, and continue to expand and refine targets. Along with our funding partner, Lithium Australia, we are looking forward to our maiden drill program on Li-rich targets in the first quarter 2017. The objective is to discover lithium-rich clay layers similar in grade to that of the Bacanora/REM La Ventana deposit.”

Since the Board approval announced in September 2016, the Project continues to advance toward commercial production targeted in Q3 2017. Primary ramp development is advancing on schedule with approximately 25% completed and the Project received delivery of its new mobile equipment, including a new scoop and bolter. Progress is also being made in the refurbishment of other equipment transferred from the Nuestra Señora mining operations. The electrical substation has been energized and water storage facilities have been constructed. Please see the Company’s website at www.americassilvercorp.com for photos updating the Project’s status.

“Our divestment of the San Felipe Project is the result of an internal analysis that identified the property as being a non-core asset at this time in light of the opportunity that exists at the Company’s recently established operating base in Zacatecas, Mexico. This strategic decision will allow the Company to further de-lever its balance sheet and accelerate our growth at the Veta Grande Project located in one of Mexico’s most recognized silver districts,” stated Arturo Prestamo, President and CEO. “The Company’s focus in 2017 will be to further optimize the operations at our two producing mines with the goal of increasing production levels and reducing costs.”

Tawn Albinson, the President of Prospero said: “La Florida has been on our watch list since 2011. Our staking program there is a reflection of Prospero’s renewed commitment to its shareholders to aggressively pursue promising properties and build a first class portfolio of early stage projects for potential joint venture.

The Project configuration evaluated in the PFS is an owner-operated 790 tpd underground mine that will utilize overhand cut and fill mining with conventional mining equipment in a blast/load/haul operation. Mill feed will be processed in a 550 tpd comminution circuit consisting of primary and secondary crushing, grinding in a single ball mill followed by three floatation circuits producing lead, copper, and zinc concentrates. The concentrates will be trucked from site for smelting and refining.

Our earlier exploration illustrated that the Aida claim was at the center of the expanding Cordero resource, and that with additional drilling to focus on the higher grade mineralization that is evident in the dome, and potentially expand the resource, we could optimize the modeled open pit and improve our economic modeling for a mining operation. Our exploration team has just returned from Cordero and has spotted 28 holes for higher grade mineralization potential. The Company intends to pursue this exploration next year, once we see the price of silver move up in a sustained and positive way.

Canasil Resources Inc. announces that Orex Minerals Inc. has filed with the System for Electronic Document Analysis and Retrieval a Technical Report in accordance with the rules of National Instrument 43-101 for the first Inferred Resource Estimate on the Boleras Silver Deposit at the Sandra-Escobar Project in Durango, Mexico. The project is being advanced by Orex under an option agreement with Canasil announced on September 15, 2015.