Category: Exploration and Development

ALIX RESOURCES CORP. announces an initial-phase work program on its newly acquired “Electra” Project located in Sonora, Mexico, set to commence in the coming weeks. Alix’s Electra Project consists of two large exploration concession applications covering 22,625 hectares adjoining Bacanora Minerals Ltd. and Rare Earths Minerals PLC ‘s Sonora Lithium Project.

Minaurum Gold Inc. is pleased to announce that it has agreed to loan Guerrero Ventures Inc. CDN$770,000 to explore the Biricu Project located in the Guerrero Gold Belt, Mexico. The exploration work will be conducted by Minaurum, as contractor to Guerrero. Drilling services and certain other work will be conducted by third party contractors.

Key Points:

• RC drilling has started at Mesa de Plata

• Drill program has been designed to enable mineral resource estimation

• Diamond core drilling program at Mesa de Plata nearing completion

Timmins Gold Corp. is pleased to announce that it has closed the acquisition from a Mexican subsidiary of Goldcorp Inc. of the complete process plant and select auxiliary equipment used in the operation of Goldcorp’s El Sauzal Mine in Chihuahua, Mexico. The El Sauzal Mine was operational until December 2014 when it began its closure. The Plant has been be acquired by Timmins Gold for future use at its recently acquired Ana Paula project in Guerrero, Mexico.

CEO John Lawrence said that “The Company is rapidly increasing the production of zeolite to take advantage of the growing market, increasing the antimony production to lower costs, and getting the Los Juarez gold and silver on line to generate more revenue and prevent dilution of the shareholder equity. All capital is being generated internally.”

“Further trend analysis over recent months has allowed us to develop a far less capital intensive optimization plan for Platosa,” stated Brendan Cahill, President and Chief Executive Officer. “We can now implement the plan using only underground wells, eliminating the need for surface wells and saving $4 million in upfront capital expenditures. Capital raising in this environment has been challenging, but with the funding now in place, we have a clear path forward for increasing production and lowering costs at Platosa.”

Mr. Arturo Prestamo, President and CEO of Santacruz stated: “First and foremost this agreement allows us to immediately leverage on the extra milling capacity available at our Rosario Mine which will help us realize certain economies of scale. In this regard we note that mineralization previously processed from the Contracuña properties reacted favourably on a metallurgical basis.” Mr. Prestamo continued, “In addition, the agreement will allow us to operate the Contracuña mill at 500 tpd capacity after a nominal capital expenditure upgrade. Further, the Company will be in position to evaluate the possibility of upgrading the Contracuña mill throughput capacity and if the economics are favourable we can explore the opportunity to increase the mining operations.”

As a follow up to the press release dated October 22, 2015, Argonaut Gold Inc. is pleased to announce that the illegal blockade at its El Castillo mine ended on the night of Friday, October 30, 2015. The Company and the community leaders have entered into an agreement in principal. A definitive agreement will be ratified by the community members in the near future. As of the end of the blockade, all mine personnel were remobilized and the site is fully operational. During the illegal blockade, Company personnel were able to continue to operate the leaching facilities and plant to ensure no safety or environmental incidences occurred.

Golden Minerals Company announces in the first half of November 2015, Golden Minerals will suspend mining and processing activities at the Velardena mine and sulfide mill due to continued low precious metals prices and lower than planned mill feed grades at the sulfide plant.

Significant results include:
– the identification of high-grade Ag-Pb-Zn polymetallic mineralization in a 300m offset from the historic Santo Niño mine in hole 15CLM-023A with an 8.5m down hole interval (5.7m est. TT) averaging 143g/t Ag, 1.2%Pb and 6.2% Zn (437g/t AgEq).
– a new high-grade oxide discovery outboard of the Blind – El Sol mineralization on the west side of the central intrusion in hole 15CLM-081; and
– gold-enriched intercepts from drilling on the eastern side of the intrusion in hole 15CLM-079 and 15CLM-080.