Category: Exploration and Development

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.”

President, Lawrence Page Q.C. stated “Since May 2011, Cerro Las Minitas has developed from a prospect into a resource with great potential to become a significant economic deposit. Continued growth is expected along the 25 kilometres length of the 13,700 hectare property. We have succeeded, during one of the most severe bear markets in recent history, in purchasing the property for a cost of $US 3.6 million, conducted extensive geophysical evaluation and 32,719 metres of diamond drilling, at a cost of $7.5 million resulting in the resource announced today. Significantly, the property is not burdened with royalties thus enhancing the economics of mining and processing.

Azure’s Managing Director, Tony Rovira described this gold intersection as “very positive for the mineral potential of the project”.

“This result strongly complements the nearby Mesa de Plata silver deposit and confirms the prospectivity of the Mesa de Plata – Loma Bonita area for hosting a large precious metal mineralised system. Significantly, the mineralisation is situated at surface within oxidised rocks, as is the nearby Mesa de Plata silver mineralisation. I am confident that our ongoing exploration will continue to reveal more significant occurrences of silver and gold mineralisation in this locale and within the greater Alacrán project area.”

The Company is pleased to announce that the 2016 exploration program on its 100% owned san Timoteo property located in the Uruachic district of Northwest Mexico is now underway. The program will involve using the Company’s Terraspec machine to analyze clay minerals from existing drill core and other samples especially from the area of the 500 level San Martin adit. This will allow the company to build a 3D model of clay mineralogy which will aid in the planning of future drill holes.

Gainey Capital Corp. is pleased to provide an update regarding important progress on the Company’s exploration activities at its highly acclaimed, 192-km2 El Colomo property located in the Sierra Madre Occidental Trend in Western Mexico and mineral-processing at its fully operational, 300-tpd processing centre located in Huajicori, Mexico. Gainey has maintained a low monthly burn rate over the past 24-months while gold prices have dropped as low as USD$1050/oz. this year. Gainey continues to be a strong exploration and mineral-processing company and has continued to find significant opportunity during the difficult precious metals market over the past several years.

Akiba Leisman, Chairman and CEO of Marlin, states that “this is an important milestone in the Company’s history. We have been mining at La Trinidad for over two years, with the removal of over 21 million tonnes of material in order to get to the point we are now. In less than 80 days we will be at the high grade HS Zone, with grades more than three times what we have been mining to date. The countdown to the HS Zone has begun, as we look to make Marlin one of the lowest cost gold miners in the Americas.”

“Though copper and silver mineralization was successfully intersected during the drilling program completed at the La Cobota Project in January, the overall results do not support further development work under the currently challenging commodity price and economic circumstances. Nonetheless, the Company considers Mexico to have excellent geological potential and will continue to evaluate projects there as part of its ongoing business development program to diversify and expand its project portfolio,” said Chief Executive Officer Pieter Britz.

Garibaldi Resources Corp. is pleased to announce that field crews have mobilized to commence first-ever diamond drilling at the Rambo high-grade gold target, part of the company’s 100%-owned Rodadero Gold-Silver Project. Drilling will test this very prospective area for a gold system approximately 6 km east of the company’s Silver Eagle deposit, underscoring the large-scale nature of this emerging mineral camp in central Sonora State.