Category: Exploration and Development

“With well over a year of allocating Company resources to extend decline ramps to the Arista Mine’s Switchback vein system, we are pleased and excited to now be developing the Switchback veins,” stated Mr. Jason Reid, CEO and President of Gold Resource Corporation. “Using cash flow from operations, we have gained access to this exciting new area of the mine and can begin to see the much awaited return on our invested capital. I am optimistic the Arista Mine’s Switchback vein system could one day be as large as, or perhaps larger than, the Arista Mine’s Arista vein system, and that we may in the future find additional parallel vein systems like Arista and Switchback. It will require time and additional capital to fully determine the size of Switchback, but now cash flow from Switchback production can be leveraged in our endeavor to continue to expand this large epithermal system.”

Mammoth Resources Corp. is pleased to announce that it has commenced exploration activities at its Tenoriba precious metal project in the prolific Sierra Madre region of Chihuahua State, Mexico. The Company had previously announced as a partial use of proceeds from its recent $200,000 capital raise, that it intended to perform a systematic PIMA, X-ray diffraction ground survey. The program is now underway and company geologists are collecting samples every 100 metres along lines oriented approximately north-south, spaced 500 metres apart which will be analyzed for the presence of various alteration clay minerals typically found in association with a High Sulphidation precious metal system as is believed to exist at Tenoriba.

Glenn Jessome, President and CEO of Oceanus, commented “These drill results further exhibit wide oxidized zones of precious metals mineralization that outcrop at surface, supporting our hypothesis that El Tigre could be another significant bulk tonnage project in the Sierra Madre Occidental in Mexico.”

Santana Minerals Limited is pleased to announce commencement of a 22 hole 2,800m (approx.) reverse circulation Drill program at the Cuitaboca Project in Sinaloa, Mexico.

Debido al derrame de 290 toneladas de jales (residuos) mineros sobre el Arroyo San Diego, en Santa Bárbara, Chihuahua, la senadora Silvia Garza Galván, del Grupo Parlamentario del PAN, propone que el Senado de la República solicite a la Procuraduría Federal de Protección al Ambiente (Profepa) un informe sobre los daños ocasionados al ambiente.

Mike England, president of Alix, stated: “We are very pleased to have both community support and environmental permits in hand to allow us to initiate a maiden Phase 1 RC drill program on the Tecolote concession, with the support of our partners, Lithium Australia. The drill program will include a series of shallow drill holes in the recognized sedimentary assemblage and also in some alluvium-covered areas. The objective is to discover lithium-rich clay layers similar to that of the Bacanora/REM Buenavista deposit.”

Rafael Gallardo, Senior Geologist of Minera Cascabel S.A. de C.V., who is leading the drill program, commented, “The target of ‘La Higuerita mineralized zone’ host the same characteristics of mineralization and alteration as was encountered at the La Nueva Victoria target and all three zones are part of the Golden Corridor. These two targets have strong potential to find veins of high grade values hosted in felsic dykes and permeable lithic tuff. We are very excited to drill these two additional targets.”

“Higher silver grades, throughput rates and recoveries propelled silver production to a new Company record of over 3.1 million ounces during the quarter,” said Keith Neumeyer, President & CEO. “We saw significant grade improvements, particularly at Santa Elena, La Guitarra and San Martin, as a result of improved mine sequencing and dilution control. Due to the improved operational cash flows, we’ve significantly expanded our exploration programs resulting in 19 drill rigs currently active on our properties which will allow us to release updated Reserve and Resource estimates for Del Toro, La Parrilla and San Martin in the first quarter of 2017. At La Encantada, detailed engineering has been completed and furnace manufacturing has started for the construction of our new roasting circuit planned for final completion in the fourth quarter of 2017.””

Jorge A. Ganoza, President and CEO commented, “This is the first quarter of full production at the new rate of 3,000 tonnes per day at our San Jose Mine, where operations are performing according to plan.” Mr. Ganoza continued, “Senior management’s focus now is on advancing our newly acquired Lindero gold project, located in the Salta Province in Argentina, towards a construction decision in the first half of next year.”

“Consolidated copper production continued to be very strong in the third quarter, setting a second consecutive all-time production record for Capstone,” said Darren Pylot, President and CEO of Capstone. ” Pinto Valley continues to demonstrate its potential, maintaining throughput at a record pace, with the high grade ore from Minto North also contributing to record production for the quarter.”