Category: Exploration and Development

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.

“This marks another important milestone in the development of the La Yaqui project. With ongoing exploration success, La Yaqui is growing into one of the most important deposits within the Mulatos District. Combined with its higher grades and recoveries, we expect La Yaqui will be a significant source of low cost production at Mulatos for many years to come,” said John A. McCluskey, President and Chief Executive Officer.

· Battery grade lithium carbonate samples from pilot plant have been distributed to Japan for preliminary appraisal and testing by end-users

· Completion of 4,000-metre infill drilling programme on the Sonora project to upgrade a portion of the current Indicated Mineral Resource to a Measured category

· Updated resource model anticipated to be completed in Q4 2016 after which mine planning and open pit design will commence

· BFS on track to be delivered in late Q1 2017

Bacanora CEO Peter Secker said, “The Sonora Lithium Project has demonstrated its potential to deliver high grade lithium carbonate to the market with operating costs which could position it very favorably in comparison to its peers. The team continues to prove that it has the lithium operations and mine development expertise to attain key milestones and incrementally build project and shareholder value, something recognised by the Company’s institutional backing.”

“The level of project detail required for the permits is not dissimilar from what will be ultimately utilized in our Pre-Feasibility Study,” said Darren Koningen, President at Minera Alamos. “Once these applications are submitted, we can turn our attention to the final plan optimization and completion of that study. In tandem, we will initiate the refurbishment and staging of the plant in Mexico and begin an exploration program focused on expanding our existing resource base”.

Managing Director Will Dix commented “Expanding the platform for drilling has given us the ability to drill further down dip and obtain better intersection angles into the mineralisation. Continuing to intersect massive sulphides down dip and now identifying new mineralisation up-dip above level 7 re-enforces the potential for accumulating resource tonnes in the mine area. We will continue to drill aggressively to build as much of a mineral inventory during the remainder of 2016.”

In May 2016, the Company executed a letter of intent to acquire up to 10 mineral concessions covering 16 known Lithium, Potassium and Boron-rich salars located in the States of Zacatecas and San Luis Potosi, Mexico. Upon review of the technical data including a property examination by the Company and its advisors, the Company elected to acquire 4 large concessions containing the 7 top priority salars which include Caliguey, La Doncella, Colorada, La Salada, Santa Clara, Saldivar and Chapala and several smaller earlier-stage salars. The Company selected these salars due to their attractive lithium, potassium and boron values from limited shallow sampling of the unconsolidated material down to a depth of five metres. Of particular interest is the La Salada salar where preliminary and unaudited analyses of samples from the southern half of the salar returned grades frequently exceeding 1500 mg/l with occasional values over 2000 mg/l lithium, 8% potassium and 60 mg/l boron. The depth and grade beneath 5m is unknown at this time but preliminary geophysical surveys indicate a possible depth of 70 metres.