Category: Exploration and Development

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.”

Non-governmental organizations have accused a Canadian mining company of conducting exploration in Puebla without environmental permits.

Canasil Resources Inc. announces assay results for drill holes ES-17-16 and ES-17-17 of the 2016-17 core drilling program at the La Esperanza silver-zinc-lead project in Durango and Zacatecas States, Mexico. These drill holes intersected multiple silver-zinc-lead mineralized intercepts reporting both wide as well as high-grade intervals from the La Esperanza vein, indicating a strong mineralized system which remains open along strike and to depth.

Galore Resources Inc. is pleased to announce that it is nearing completion of a geological mapping and sampling program on the San Jose and Los Gemelos claims on the Company’s 20,000 hectare (49,420 acre) Dos Santos project in Mexico. The Company is moving efficiently and effectively in developing it’s new exploration model through field mapping, sampling and integrated structural analysis.

Commenting on the quarterly performance, Chief Executive Officer, Greg McCunn, said, “The San Francisco mine had a very strong first quarter of the year with gold production ahead of guidance due to operational improvements made in the crushing and leaching circuit resulting in better gold recovery and the initiation of a project to recover gold from a previously closed leach pad. While these improvements are expected to allow us to achieve the upper end of our annual guidance of 70,000 to 75,000 ounces for 2017, we are continuing to re-engineer our life-of-mine plan for San Francisco and expect to publish the updated plan this quarter. We are excited about the potential to improve upon the existing plan for 2018 to 2022.

Levon Resources Ltd. announces that it plans 5,000m (28 core holes) in close spaced, infill drilling within the Cordero Felsic Dome portion of the 2014 Cordero resource, to test for near surface, high grade mineralization within the modeled open pit containing the 2014 Resource, calculated by Independent Mining Consultants. Preparations for the drill program are being completed for an April 2017 start up.

Since September 15, 2016, when Marlin began consistently mining the high grade HS Zone, the Company has stacked 79,302 ounces of gold with 19,844 coming in 1Q17 alone. The tonnes stacked in 1Q17 had an average grade of approximately 1.74 grams per tonne. In addition, Marlin has an approximately 185,000-tonne stockpile of mineralized material remains with an average grade of approximately 0.80 grams per tonne. Management expects to process grades similar to the average stockpile grade as we accelerate mining to reach the southern part of the high grade HS Zone by the end of 2Q17. This is an improvement to prior estimates of reaching the southern part of the HS Zone by 3Q17.

Bradford Cooke, CEO of Endeavour Silver, commented, “We look forward to getting the green light to develop Terronera into our fifth mine. The main mineralized zone is relatively shallow, steeply dipping, thick and high grade, which at today’s metal prices should generate reasonably robust economic returns. The two-stage development plan starts at 1,000 tpd and expands to 2,000 tpd, which allows us to finance and build a smaller mine, then expand it once the mine is generating positive cash flow. We consider the exploration potential to make new discoveries and expand the resources at Terronera to be very good.

Brian Robertson, Chairman and CEO of Source Exploration, commented, “We have achieved significant progress with the drilling program due to the high proficiency of the KDL drilling crew and our geological team and support contractors at site. This drilling program will allow us to complete an initial mineral resource estimate as well as identify prospective targets for additional work.”