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, we are also conducting exploration drilling to test for additional resource potential.”

Colibri will initiate a program of detail mapping and sampling in the area of the high grade chip samples and explore for extensions of this area. We will also investigate the areas of high gold in soils to see if we can strip, map and sample these areas. The above work will be followed up by a second phase program of drilling.

President Mike England states, “The Company is pleased to now have boots on the ground on our Mexican concession and to commence exploration on the property. Our team is well experienced in the area and we look forward to announcing further news as they progress with the exploration program.”

“We are pleased that the Company’s Oaxaca Mining Unit business plan of having multiple mines feed a strategically located mill is well underway with the development of our now fully permitted Alta Gracia mine,” stated Mr. Jason Reid, CEO and President of Gold Resource Corporation. “We were able to advance Alta Gracia forward much faster with this business plan, as we only have to justify the mining and trucking costs to haul mineral to our Aguila mill for processing. This shared mill approach eliminates the need and capital required to build a mill at each of our six properties. Furthermore, it targets moving a property into production sooner, at less cost and may add to our production profile and longevity of operations. We are very excited to soon have Alta Gracia as our second producing mine within our Oaxaca Mining Unit.”

“This new resource estimate highlights the important progress we’ve made since the last resource estimate” said Avino President and CEO, David Wolfin. “During the past ten years, our mine site exploration efforts have been successful, consistently identifying new resources.”

Evrim Resources Corp. announces new exploration results at the Company’s 100% owned Llano del Nogal project in Sonora, Mexico. Recent mapping and ground geophysics has defined a large 1,000 metre by 600 metre zone of porphyry alteration with a buried target at the Suanse area. Llano del Nogal has had very limited exploration and represents one of the few undrilled projects within the Cananea – La Caridad Porphyry Belt.

Mike England, president of Alix, states: “We are very excited to have discovered new lithium-rich clay horizons with strongly anomalous lithium values and are pleased to have successful submitted a new application to cover the strike and dip continuation of these sedimentary units.”

Mexus Gold US President Paul Thompson stated today that the outlook for the company has never been better. The company is nearing production having very little debt which is unheard of in the mining industry. The push towards production with the company’s joint venture partner, MarMar Holdings, continues as scheduled at the Santa Elena mine.

The Company expects to invest a total of $30-$34 million in exploration during 2016, including $14-$16 million for expensed exploration and $16-$18 million for capitalized exploration. This represents an 82% increase over 2015 exploration spending. Of the $30-$34 million expanded exploration budget, approximately 85% is expected to be allocated to drilling at or near the Company’s existing operations and nearly 75% is expected to be invested at the Company’s Palmarejo underground silver-gold mine in Mexico, its Kensington underground gold mine in Alaska, and its Rochester open-pit silver-gold mine in Nevada.

GoGold Resources Inc. announces toll milling of high grade material at Santa Gertrudis. The Company has secured a 150 tonne per day mill to continue milling the high grade material on surface at Santa Gertrudis during the construction of the first vat leach plant. To date, the Company has mined in excess of 6,000 tonnes of material at an average grade of 13.5 g/t with 3,700 tons processed at the mill and the remainder in a stockpile. The company estimates the total cost per tonne of the Santa Gertrudis material will be $125 per tonne which will generate significant cash flow per ounce. As of the end of September the Company had poured 383 ounces of gold from Santa Gertrudis.