Category: Exploration and Development

“The sale of the Caballo Blanco project for a total consideration of US$17.5 million is a significant event for Timmins Gold,” stated Mark Backens, Interim CEO. “The cash proceeds from this sale will strengthen our balance sheet which will enable settlement of our secured debt.”

“This is the best drill hole in our history at the mine”, said Robert Eadie, President and CEO of Starcore.

Orex Minerals Inc. is pleased to announce that the consulting firm Mining Plus has been awarded a contract to conduct the first Resource Estimate on the Sandra Escobar Project in Durango, Mexico. The Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources Inc.

Azure’s Managing Director, Tony Rovira described the high grade nature of the gold intersections as highly encouraging for the Alacrán Project. “This is very exciting, particularly as the gold grades and thicknesses appear to be increasing towards the south,” he said. “As with previously announced gold intercepts at Loma Bonita, this mineralisation is situated near surface within oxidised rocks, which is very promising for future mining and processing operations. I now consider Loma Bonita to be a gold project with excellent silver credits. The high gold grades and significant widths of these intercepts augur well for the possible delineation of a significant gold deposit and are positive for the future development of the Alacrán project.”

Gold Resource Corporation today announced additional Switchback drill results from its Aguila Project’s Arista Mine. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Ralph Shearing, President stated “we are very pleased that the Company’s ongoing community and social efforts have been very successful in establishing respectful and mutually beneficial relationships between the Company and the Comunidad, at our Tahuehueto Project. This amicable relationship has allowed for a successful long-term renewal of the surface rights agreement.

Actualmente Minera Fresnillo y Minera Saucito I y II, tienen 25 años de actividad minera; actualmente desarrollan el proyecto Juanicipio de gran expectativa y se espera inicie operaciones el próximo año, tras una inversión de 300 millones de dólares.

Westminster Resources is continuing exploration at its 100% owned El Cobre property in Sonora, Mexico. The current program is concentrated on evaluation of epithermal precious metal potential in the Guayacan northwest region of the 17,854 hectare property. The Guayacan epithermal targets are associated with major linear and circular magnetic geophysical anomalies and structures coincident with intense alteration and silicification of host rock units. Most of the mineralized zones are exposed as wide spread float boulders within areas of anomalous soil geochemistry. Mechanical trenching utilizing bulldozer or backhoe equipment in conjunction with prospecting is considered the best exploration practice to locate and sample the source structures.

Anis Nehme states, “The Municipality of Parral, with a population of 120,000 citizens, wished to recognize the Company’s valuable support for the social and economic development of Parral. This was the first time in the 400 year history of Parral that they have awarded this honor. We were presented with a plaque that reads: The actual handing over of these keys evokes, in our collective imagination, the act of opening the gates of a city rich in history, which is being transformed to make way for a future that awaits the adventurous. I was honoured to receive the Key of Parral on behalf of our team.”

Orex’s President, Gary Cope says, “Drilling at Sandra Escobar continues to yield thick intercepts of disseminated silver mineralization. Discussions with consulting firms have started for metallurgical testing and resource estimation studies.”