Category: Exploration and Development

N. Eric Fier, CPG, P.Eng, CEO and President commented, “We are very encouraged with the early success from our initial drilling campaign at Las Chispas, which has confirmed continuity of high grades over potential mineable thicknesses. With the underground drilling permit, we will start drill-defining resources and preparing for a broader Phase II exploration program. Our current focus is to systematically drill the Las Chispas and William Tell veins in a grid pattern for resource estimation, test vein extensions and to further explore the Babicanora area. SilverCrest’s schedule is to establish a maiden resource estimation in the first half of 2017. We see further upside in this historic silver-gold mining district with prospective discoveries of multiple unidentified veins, and drill testing Babicanora which is considered the largest target in the district.”

“Although we are anxious to commence drilling at Pino de Plata, we are also pleased with the progress being made to prudently initiate serious exploration efforts while minimizing or eliminating any potential environmental and permitting liabilities in the future,” stated Dr. Brian Penney, Chairman. “We are taking proactive steps now to ensure that safe and efficient exploration and development programs can be conducted without interference or unanticipated regulatory delays.”

GoGold Resources Inc. is pleased to announce that it has uncovered additional zones of high grade gold on surface at the Greta project at its Santa Gertrudis Gold Mine located in Sonora state, Mexico. GoGold’s Trench 318 uncovered (18m of 32.8 g/t Au). The largest zone of a few areas consists of three subparallel zones of mineralization that dip about 20° to the west and has dimensions of 660 meters along the north-south strike and 370 meters down dip. This zone is approximately 12 meters thick and is tightly confined to a thin layer that gives the appearance of a bedding plane or a flat-lying structural zone. The zone is notable for a very high-grade gold layer from one to ten meters thick that outcrops on surface in numerous locations.

Canasil Resources Inc. is pleased to announce that Orex Minerals Inc. has reported that the Phase-III core drilling program at the Sandra-Escobar Project in Durango, Mexico, has been completed at hole SA-16-062. Results for holes SA-16-054 to SA-16-060, drilled in the Main and Cerro Chato Zones in the southeastern region of the project, are presented in the table below. Drilling for Phase-IV is planned to start in early November. The project is being advanced by Orex under an option agreement with Canasil announced on September 15, 2015.

DynaResource, Inc. is pleased to announce that Mineras de DynaResource S.A. de C.V., the 100% owned subsidiary of DynaUSA and the exclusive operator of the San Jose de Gràcia Property in northern Sinaloa, México, is reporting the delivery for sale, on October 13, 2016, of an approximate 500 oz. gold contained in concentrates (exact weights in gold and silver oz. to be determined at final settlement).

Orex’s President, Gary Cope says, “This is an active time for the exploration of the Sandra Escobar Project. We are encouraged by the early stage metallurgical tests and look forward to the initial resource estimate. A new phase of diamond drilling is being scheduled for November-December.”

Telson Resources Inc. announces that metal recovery testing operations has commenced on the companies recently collected 2,000 tonne industrial scale bulk sample at the Andes Mill processing facility located near Guanacevi, Durango State, Mexico.

Akiba Leisman, Chairman and Interim CEO of Marlin states, “consistently mining high grade material at La Trinidad is transforming the Company. We went through another tough rainy season, which slowed production, but we couldn’t be more pleased with how the mine is performing now. To put this in perspective, October is a record month for placing gold onto the leach pad– a record we broke just 12 days into the month.”

“With well over a year of allocating Company resources to extend decline ramps to the Arista Mine’s Switchback vein system, we are pleased and excited to now be developing the Switchback veins,” stated Mr. Jason Reid, CEO and President of Gold Resource Corporation. “Using cash flow from operations, we have gained access to this exciting new area of the mine and can begin to see the much awaited return on our invested capital. I am optimistic the Arista Mine’s Switchback vein system could one day be as large as, or perhaps larger than, the Arista Mine’s Arista vein system, and that we may in the future find additional parallel vein systems like Arista and Switchback. It will require time and additional capital to fully determine the size of Switchback, but now cash flow from Switchback production can be leveraged in our endeavor to continue to expand this large epithermal system.”

Mammoth Resources Corp. is pleased to announce that it has commenced exploration activities at its Tenoriba precious metal project in the prolific Sierra Madre region of Chihuahua State, Mexico. The Company had previously announced as a partial use of proceeds from its recent $200,000 capital raise, that it intended to perform a systematic PIMA, X-ray diffraction ground survey. The program is now underway and company geologists are collecting samples every 100 metres along lines oriented approximately north-south, spaced 500 metres apart which will be analyzed for the presence of various alteration clay minerals typically found in association with a High Sulphidation precious metal system as is believed to exist at Tenoriba.