Category: Exploration and Development

Minaurum Gold Inc. is pleased to announce that it has entered into an option agreement to earn a 100% interest in the La Quintera Silver Project in the historic Alamos District in Sonora, Mexico from a private Mexican vendor. Quintera encompasses a number of wide, high-grade epithermal veins with significant historical production. The project has seen little modern exploration and has never been drilled.

The San Rafael Project is expected to deliver average annual production of 1.0 million ounces of silver, 50 million pounds of zinc and 20 million pounds of lead over a 6 year initial mine life at negative AISC based on current reserves and have a pre-tax IRR of greater than 80% using current silver, zinc and lead prices. The Project is a brownfield development that will utilize certain existing infrastructure at the Cosalá Operationsand is expected to have an initial capital cost of approximately $20 million using current exchange rates. The Company targets commercial production in Q3 2017 following stockpiling of development ore starting in Q2 2017. The Project is permitted for development, road access has already been completed and portal construction has begun. Please see the Company’s website at www.americassilvercorp.com for photos updating the Project’s progress.

San Marco’s CEO, Bob Willis stated; “We’re extremely pleased with the early results of the GSM Partnership’s targeting efforts. As we hoped, application of these techniques generated numerous new targets throughout the state of Sonora, allowing us to quickly focus on the highest potential areas. Interestingly, some of these areas appear to be lightly explored or even unexplored, though some lie in close proximity to well-known major deposits. Early results have increased our confidence that this method will allow us to rapidly prioritize new projects with cost effective reconnaissance techniques.

Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased to get going in the field again at Glor and look forward to exploration results this fall. Our Glor Project is less than 10km from the operating El Chanate Mine, with results to-date indicating potential at Glor for both high-grade and bulk-tonnage type gold discoveries. This next phase of work should help us focus in on the higher priority drill targets.”

GoGold Resources Inc. is pleased to provide a progress update on its wholly-owned Santa Gertrudis Gold deposits located in Sonora, Mexico. Following the completion of the Preliminary Economic Assessment by P&E Mining Consultants Inc. in August 2014, GoGold has continued to assess various processing methods. The PEA was based on conventional cyanide heap leaching for the recovery of the precious metals; in part, because the property has a long production history using cyanide heap leaching. Further preliminary metallurgical testing was completed at the Kappes Cassidy & Associates laboratories in Reno Nevada which indicated that cyanide vat leaching could be a viable alternative to conventional heap leaching; with achieved vat gold recoveries in the low 80% range (at a -8mm crush size over 50 hours of leach) on the first deposits tested along the main mineralized trend including Trinidad, Dora, Corral and Ruben.

“We are very pleased to see our exploration efforts at La Yaqui translate into a substantial increase in mineral resources. In a little over one year of drilling, we have added nearly 450,000 ounces of gold, transforming La Yaqui from a satellite project to one of the most important deposits in the Mulatos District. Phase I development of La Yaqui remains on track and with continued exploration success, we look forward to further growth of the deposit,” said John A. McCluskey, President and Chief Executive Officer.

Orex’s President, Gary Cope says, “The third phase of drilling continues to yield thick intercepts of disseminated silver mineralization showing strong continuity in the Main Zone of the Boleras Deposit. The adjacent Burro Zone is also of interest, as are other silver targets in the immediate area of drilling.”

Radius Gold Inc.is pleased to announce that it has applied for mineral concessions totalling 37,000ha covering four lithium brine targets in northern Mexico. Further Radius is pleased to announce it has signed an option agreement with Advantage Lithium Corp. to fund exploration of the properties.

“Reconozco y celebro los esfuerzos que realiza Minera Fresnillo, sus trabajadores y las empresas contratistas que colaboran con ellos para alcanzar niveles óptimos de seguridad en sus procesos de producción, y sobre todo hoy que reciben su certificación por el correcto manejo del cianuro, cuidando a la vez la salud de sus trabajadores y la sustentabilidad del medio ambiente”, expresó.

Pan American Silver Corp. today announced that it has achieved important milestones at its two mine expansion projects currently underway in Mexico. At the Company’s La Colorada mine, the new 618-metre deep shaft was commissioned in fully automatic mode in early September, ahead of schedule. The shaft was constructed with a world-class safety performance of zero lost-time accidents incurred and using industry-leading raise boring and shaft automation technologies. The work remaining to complete the La Colorada expansion project includes a new filter plant, power line and underground development. The project is now expected to be completed approximately 5 to 10 percent under budget.