Category: Exploration and Development

Timmins Gold Corp. is pleased to announce an updated National Instrument 43-101 Technical Report for its San Francisco Gold Mine in the state of Sonora, Mexico, prepared by Micon International Limited. The San Francisco Gold Mine is comprised of the San Francisco deposit and the La Chicharra deposit. The report was previously updated as of December 15, 2013. This update incorporates production depletion from the date of the last report, production / confirmation drilling and an update to the resource and reserve assumptions, primarily a lower gold price assumption (Reserves at $1,100/oz gold, Resources at $1,200/oz gold). The update also includes a maiden resource for the San Francisco underground. All figures quoted below are in US Dollars.

Colibri Resource Corporation is pleased to announce that their joint venture partner, Agnico Eagle Mines Limited, has informed them that they are planning to drill the Pitaya joint venture property located in Sonora, Mexico. In the Joint Venture, Agnico Eagle holds a 58.84% interest and Colibri holds a 41.16% interest in the Pitaya property.

Millrock President & CEO Gregory Beischer stated: “We are pleased to start this new partnership with Centerra Gold. It is a great to see a mining company aggressively acquiring and exploring properties in a challenging market and we are glad to be able to show progress in Mexico to our shareholders”.

Fred Stanford, President & CEO of Torex stated: “Achieving commercial production ahead of schedule and under budget is a memorable and significant achievement that the entire team is proud to have been a part of. We offer a special thanks to those many others that have helped in turning our collective intentions into reality.”

“Throughout 2015, we continued to reduce costs while increasing silver-lead production and mine efficiency,” said Americas Silver Corporation President and CEO Darren Blasutti. “At the end of March, our operations were on track to deliver on our production guidance and cash costs of $9.00 – 10.00 and all-in sustaining costs of $11.75 – 12.75 per ounce for 2016. We are also excited about the results of our San Rafael pre-feasibility study and maiden reserve estimate. At current prices, it has a pre-tax IRR of 27% and attractive economic upside through conversion of the existing resource to reserve, as well as resource addition from exploration once underground access has been established. We are starting small with initial capital estimates of approximately $22 million to get into production. The project is expected to produce 5.5 million ounces of silver, 254 million pounds of zinc and 97 million pounds of lead over an initial reserve life of 5.5 years at negative silver all-in sustaining costs.”

La Fiscalía General del Estado (FGE) y autoridades del estado de Sinaloa, confirmaron ayer el desplome del aeronave tipo Cessna 206, con número de matrícula XBM-FY, que despegó el pasado martes del municipio de Angosturas, Sinaloa y cayó en la sierra de Mocorito, Sinaloa, con saldo de seis personas fallecidas.

El nombre del piloto es Gildardo Lugo Ochoa, con 31 años de edad, originario de la ciudad de Guamúchil, en ésta viajaban también dos mecánicos y dos geólogos, quienes laboran para empresa minera Dyna Resources de México SA de CV, los acompaña además el copiloto.

Mr. Alain Lambert, Chairman and CEO of Cyprium stated: “The rehabilitation of shaft #3 of the Potosi mine and the exploration at level 2, 3 and 4 of the mine continue to progress on budget and according to schedule. The main activities over the last two months consisted in the overhaul of the rail system for the extraction of mineralized material, the repair of the hoist and implementation of various measures for improved safety in the mine. Over the next six weeks we expect to proceed with the installation of the necessary drilling and mining equipment infrastructure at level 3 and 4 of the mine, including the installation of a new air compressor.”

“This PEA update quantifies the economic benefits of the El Sauzal facilities acquisition on the already-robust Ana Paula Project. We continue to view Ana Paula as one of the best development-stage gold projects in Mexico,” commented Mark Backens, Interim CEO. “Total initial capital estimate has been reduced by approximately $42 million. It is also important to note that because we have already acquired essentially all of the equipment and materials the risk of capex overruns and delivery delays has been significantly lowered.”

Orex’s President, Gary Cope says, “Our understanding of the high-grade silver mineralization at Sandra Escobar continues to grow. Still to come are the results for 7 more holes from the Phase-I drilling program, as well as the new drill holes from Phase-II.”