Category: Exploration and Development

Azure’s Managing Director, Tony Rovira described the identification of semi-massive copper sulphide mineralisation as a very significant development for the Alacrán Project. “This discovery supports our geological model that the hydrothermal breccia at Loma Bonita is part of a feeder zone within a large mineralised system that may extend to significant depths. The gold-silver mineralisation within the near-surface oxide zone at Loma Bonita is the highest priority for our exploration program, and drilling is continuing there in order to delineate the overall size and grade of this mineralised zone…”

Cyprium Mining Corporation is pleased to announce the results from nine underground samples taken as part of its ongoing exploration program of the Tunel body of the Potosi silver mine located in Santa Eulalia, Mexico. The term Tunel body refers to the area accessed by the Potosi No. 3 shaft on levels 1 to 4 of the Potosi mine.

J. Duane Poliquin, chairman of Almaden commented: “We continue to advance Ixtaca towards a production decision. We are proud of our hardworking team that has allowed the Company to effect significant progress while limiting shareholder dilution despite the downturn in mining. We look forward to updating shareholders with further progress in the coming months as we focus on the preparation of a PFS study and permit submittal as well as exploration. Going forward we will begin to build a mining team to handle the final push towards production.”

“We have proven the ability to process various types of concentrate and expect to do this profitably with a consistent supply of concentrates and production,” said Robert Eadie, President of the Company. “Having tested concentrates received from 14 different suppliers, we are currently negotiating concentrate purchase agreements for the best quality concentrate that will bring a consistent supply. As stated before, we see the Altiplano Plant as a synergistic cash-flow producing arm of the Company, growing our asset base for our shareholders.”

Southern Silver Exploration Corp. reported today assay results from the first two holes (CLM-087/-088) from 2016 core drilling on the Cerro Las Minitas project, Durango State, Mexico which identified a new thick interval of continuous polymetallic semi-massive and massive sulphide mineralization in drill hole 15CLM-088. Highlights from drill hole CLM-088 include:

Pete Dougherty, President & CEO stated: “With the EIS already completed and now that we have come to an agreement on the land for the San Agustin project and filed our permit application, we expect to receive a permit decision during the third quarter of 2016. Assuming a positive construction decision in the fourth quarter of 2016, we would anticipate first gold production from San Agustin in the third quarter of 2017.”

“We are thrilled to have the ability to continue expanding our operations in these rising metals markets. The new powerline provides enough energy to power our existing operations, the future oxide tailings resource operation, as well as another near-term expansion at the mill, leaving 1 MW of excess capacity for further expansion”.

N. Eric Fier, CPG, P.Eng, President & CEO commented, “We are pleased with the results received to date from the underground rehabilitation program and early indications of mineralization in core from the surface drilling program at Las Chispas. On April 27, 2016, the SilverCrest team safely ascended to the 400 level of the Las Chispas vein and started the first systematic channel sampling in over 90 years. We are sampling underground areas that are easily accessible in our efforts to confirm high grade continuity at Las Chispas, while targeting areas for potential resource estimation and future bulk sampling. Based on our initial success, we have elected to expand the surface drill program to further test extensions of mineralization. The Company is well financed with $5.6 million in the cash to cover all intended exploration expenditures in 2016.”

Mr. Alain Lambert, Chairman and C.E.O. of Cyprium stated: “The level 4 stope of the Tunel body of the Potosi silver mine forms part of our initial focus for mine development and extraction of mineralized material through shaft No. 3. Consistent with our business plan to put emphasis on short-term cash generation to fund the systematic development of the mine, our mining activities will start with the richer South Zone A and North Zone.” Mr. Lambert concluded: “We are currently finalizing the evaluation work in order to add further areas of mine development and extraction activities within the Tunel body’s levels 2 to 4. Our goal is to start extracting mineralized material from at least three different areas when drilling and blasting starts. “

Fred Stanford, President Anchor& CEO of Torex stated: “The team on site continues to deliver excellent safety and environmental performance, and to exceed production expectations. In May they routinely operated the processing plant at design throughput levels and produced 29,995 ounces of gold, or 1,000 ounces per day. The Guajes deposit has also exceeded the expectations of the geological model, in both grade and tonnes. We have now processed over one million tonnes through the plant and can compare what the plant received against what was predicted by assays from blast-hole samples, and from there relate through to the geological model. In summary, since the plant was ‘bedded down’ at the end of February, when data became reliable, the plant has received 12% more gold ounces than was predicted by the geological model. Of this 12% increase in gold ounces, ‘10’ came from increased grade, and ‘2’ came from increased tonnage. Skarns are known to be variable and there is no reason to expect that this one will be any different; however, it is encouraging to note that as we work deeper into the Guajes deposit the positive reconciliation has strengthened. In conclusion, a big “thank you” to all Torex/MML teams, for their consistent performance in turning intentions into reality.”