Category: Exploration and Development

First Mining Finance Corp. is pleased to announce that it has signed an agreement with BRS Ventures Ltd., under which First Mining will sell all the issued and outstanding shares of Minera Terra Plata S.A. de C.V., a subsidiary of First Mining, which owns the Peñasco Quemado, La Frazada and Pluton properties located in Mexico.

Westminster Resources has recently completed prospecting and sampling of epithermal precious metal zones in the Guayacan region of the Company’s 17,854 hectare 100% owned Sonora Mexico property. This road accessible, flat -lying area is partially covered with young volcanic rocks and sand-gravel overburden deposits. The Company’s airborne magnetic-VTEM geophysical survey has guided exploration of partially covered target zones which are associated with major North – South structural linears and circular intrusive centers. Both have widespread alteration-silicification signatures related to Landsat imagery anomalies and magnetic lows.

Cyprium Mining Corporation is pleased to announce the results from additional underground samples taken from an oxidized zinc body on level 14 as part of its ongoing exploration program of the Potosi silver mine located in the historic Santa Eulalia, Mexico.

“The fault structures and tourmaline breccias throughout the La Fortuna Project area have been the source of significant historical mining activity. To date only a limited portion of the La Fortuna Main Zone has been drilled to produce the current NI 43-101 compliant resource,” said Miguel Cardona, Vice President, Exploration at Minera Alamos. “This opportunity to increase our land holdings so substantially provides considerable upside for resource growth as the project continues to advance. We are now reworking our planning to include the newly acquired property in our upcoming exploration program”.

N. Eric Fier, CPG, P.Eng, President & CEO commented, “We continue to expand our high grade footprint at Las Chispas with the latest results from the ongoing underground rehabilitation and channel sampling program as we continue to gain further access to historic workings. Our onsite team has safely descended to the historic 650 level** of the William Tell vein with subsequent ongoing mapping and sampling. Our channel sample results on the 650 level are showing sub interval bonanza grades in excess of 2,500 grams per tonne silver equivalent (AgEq)*over 0.20 metre to 1.12 metre widths.

“We are incredibly excited to be back exploring Platosa again,” stated John Sullivan, Vice President Exploration. “We have conducted minimal drilling to expand Platosa manto resources since 2011, and the area near the Platosa mine itself remains wide open for the discovery of new mantos both laterally and at depth. Additionally, we are revisiting the geophysical data collected at Platosa from 2006 to 2011 with the help of Geotech. With today’s much faster processing power, along with the cutting edge application of neural networking and artificial intelligence, we hope to obtain an entirely new perspective on exploration at Platosa. We remain convinced that the Platosa mantos are merely the edge of a much larger CRD system.”

Mark Brennan, President and CEO of Sierra Metals stated “We have been working diligently to aggressively increase high grade tonnage at all of our mines. The brownfield programs currently underway are yielding very positive initial results as highlighted by our Esperanza discovery.” He continued “Other targets are moving ahead very positively and we hope to provide greater disclosure over the coming months as drilling assays and QAQC standards are completed.”

“The Cerro Cascaron project continues to impress with high grade gold and silver systems spread over large areas on the project. This channel sampling program has provided drill targets at San Pedro and Carabina, confirmed our understanding of the controls on high grade epithermal mineralization, and increased the cumulative strike length of the vein system. Sample results from the newly-recognized high-grade silver La Cascarita prospect demonstrates the district scale of the project with the majority of the property yet to be explored.” commented Alain Charest, Evrim Resources’ Vice President Exploration, Mexico.

Commenting on the recently initiated financing, Tawn Albinson, the President of Prospero said: “This month’s capital raise is intended to give fresh impetus to our Mexican exploration programs. Our main priority would be to advance Bermudez with a detailed sampling program to delineate potential drill targets. We are also pushing ahead with showing the Petate project to potential joint venture partners and hope to have news on this front in the near future. We have identified a series of additional targets and projects which we plan to advance to full project status and are also looking at potentially drill testing one of our projects ourselves.”

Mexus Gold US is pleased to announce that the liner installation on its heap leach pad is now complete. The next step in the process is to place the filtration material on the pad. Mexus expects this step to be completed by the 19th at which time ore can begin to be placed on the pad.