Silver Standard Resources Inc. announces today that it has entered into a definitive agreement with Endeavour Silver Corp. to sell 100% of its Parral properties in Chihuahua, Mexico, including the Veta Colorada, La Palmilla, and San Patricio properties. Endeavour Silver is a mid-tier precious metals company with a track record of exploring for, developing and operating mines in Mexico.
Glenn Jessome, President and CEO of Oceanus, commented “Our drilling at El Tigre adds and confirms wide zones of precious metals mineralization that demonstrates potential as a bulk tonnage target. The Oceanus technical team believes that El Tigre could be another significant bulk tonnage project in the Sierra Madre Occidental.”
DynaResource, Inc. is pleased to announce that Mineras de DynaResource S.A. de C.V., the 100% owned subsidiary of DynaUSA and the exclusive operator of the San Jose de Gràcia Property in northern Sinaloa, México, is reporting production costs of $592 per oz. gold at San Jose de Gracia for the first six months of operations in 2016. Details of the operations are contained in the Company’s Form 10-Q for the period ending June 30, 2016, and filed August 19, 2016 with Edgar.
These results confirm the presence of a shallow dipping (“SD”) zone of veining adjacent and outside of the January 2016 Amended PEA pit. In addition, hole TU-16-465 intersected what is likely a new zone of high grade veining immediately beneath the Amended PEA pit, while TU-16-463 intersected two new veins located roughly 100 meters north of the previously known vein system. The holes were all drilled from the same pad and intersected the previously defined subvertical Ixtaca North vein zone as well as the new zones of veining (see attached section and plan maps). Highlights from these drillholes include the following intercepts for the Ixtaca North Zone and new zones:
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 Companys website at www.americassilvercorp.com for photos updating the Projects 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.
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