Category: Exploration and Development

N. Eric Fier, CPG, P.Eng, President & CEO commented, “We are pleased with the results received to date from the underground rehabilitation program and early indications of mineralization in core from the surface drilling program at Las Chispas. On April 27, 2016, the SilverCrest team safely ascended to the 400 level of the Las Chispas vein and started the first systematic channel sampling in over 90 years. We are sampling underground areas that are easily accessible in our efforts to confirm high grade continuity at Las Chispas, while targeting areas for potential resource estimation and future bulk sampling. Based on our initial success, we have elected to expand the surface drill program to further test extensions of mineralization. The Company is well financed with $5.6 million in the cash to cover all intended exploration expenditures in 2016.”

Mr. Alain Lambert, Chairman and C.E.O. of Cyprium stated: “The level 4 stope of the Tunel body of the Potosi silver mine forms part of our initial focus for mine development and extraction of mineralized material through shaft No. 3. Consistent with our business plan to put emphasis on short-term cash generation to fund the systematic development of the mine, our mining activities will start with the richer South Zone A and North Zone.” Mr. Lambert concluded: “We are currently finalizing the evaluation work in order to add further areas of mine development and extraction activities within the Tunel body’s levels 2 to 4. Our goal is to start extracting mineralized material from at least three different areas when drilling and blasting starts. “

Fred Stanford, President Anchor& CEO of Torex stated: “The team on site continues to deliver excellent safety and environmental performance, and to exceed production expectations. In May they routinely operated the processing plant at design throughput levels and produced 29,995 ounces of gold, or 1,000 ounces per day. The Guajes deposit has also exceeded the expectations of the geological model, in both grade and tonnes. We have now processed over one million tonnes through the plant and can compare what the plant received against what was predicted by assays from blast-hole samples, and from there relate through to the geological model. In summary, since the plant was ‘bedded down’ at the end of February, when data became reliable, the plant has received 12% more gold ounces than was predicted by the geological model. Of this 12% increase in gold ounces, ‘10’ came from increased grade, and ‘2’ came from increased tonnage. Skarns are known to be variable and there is no reason to expect that this one will be any different; however, it is encouraging to note that as we work deeper into the Guajes deposit the positive reconciliation has strengthened. In conclusion, a big “thank you” to all Torex/MML teams, for their consistent performance in turning intentions into reality.”

“The Cerro Cascaron project is an indication that the mineral endowment in Mexico continues to produce untested high quality exploration targets,” commented Alain Charest, Evrim Resources’ Vice President Exploration for Mexico. “In six months Evrim’s exploration team has transformed Cerro Cascaron from an unexplored concession to a highly prospective low sulphidation epithermal gold target.”

“I am pleased to announce that Avino has declared commercial production at its second, and largest mine on the Avino property. We have continued to build our first class mining operation over the last 19 months and declaring commercial production at the Avino Mine marks the achievement of another milestone for the Company. We are fortunate to have a strong and dedicated team of professionals who have been instrumental in making the transition to commercial production; I personally thank them for their significant contributions.

Mr. Alain Lambert, Chairman and CEO of Cyprium commented: “We appointed Bergmann in February to carry-out the Potosi shaft #3 project which consisted in the rehabilitation and improvement of the extraction capability of the shaft as well as improvement of infrastructure, security and preparation of prospective mining areas at levels 2 to 4 of the mine. Not only did Bergmann complete the project on time and on budget but they also contributed several ideas which strengthened the original plan.” He added: “Bergmann has a deep and extensive knowledge of the Potosi mine as they were the contractor used by our joint venture partner when the mine was last in production a few years ago.”

Primero Mining Corp. announced today that it has issued a Notice of Intent to submit a claim to international arbitration against the Government of Mexico, pursuant to Article 1119 of the North American Free Trade Agreement.

Almadex Chairman, J. Duane Poliquin commented, “We have an outstanding portfolio of mineral projects and we are pleased to have commenced drilling on the most advanced, El Cobre. We are exploring a very large zone of alteration hosting several porphyry systems and expect that this round of drilling will better define the systems for future drilling. These first results are from only one of the targets identified and clearly demonstrate the potential of the Encinal target while providing important data for the drilling we are planning based on these results.”

Millrock Resources Inc. announces that surface exploration is underway at the Los Chinos and Los Cuarentas gold projects in Sonora State, Mexico. The projects are the subject of a previously-announced option to joint venture agreement with Centerra Gold Inc. Under the option agreement, Centerra can earn a 70% interest by completing US$5.0 million in exploration expenditures over a five-year period at Los Chinos, and US$2.0 million at Los Cuarentas.

Mr. Barry Devlin, Vice President of Exploration, stated, “This latest round of drill results from Switchback continues to define, as well as expand, this impressive polymetallic vein system comprised of multiple en echelon veins. In particular, step-out Hole 516115 expands high-grade mineralization to the southeast where we had thought precious metal grades may have started to decrease. It is also exciting to see some of the highest gold grades drilled to date at Switchback in these latest intercepts. Our primary exploration goal is to continue expanding the Switchback epithermal vein system in the Arista Mine.”