Category: Exploration and Development

Fred Stanford, President & CEO of Torex stated: “Achieving commercial production ahead of schedule and under budget is a memorable and significant achievement that the entire team is proud to have been a part of. We offer a special thanks to those many others that have helped in turning our collective intentions into reality.”

“Throughout 2015, we continued to reduce costs while increasing silver-lead production and mine efficiency,” said Americas Silver Corporation President and CEO Darren Blasutti. “At the end of March, our operations were on track to deliver on our production guidance and cash costs of $9.00 – 10.00 and all-in sustaining costs of $11.75 – 12.75 per ounce for 2016. We are also excited about the results of our San Rafael pre-feasibility study and maiden reserve estimate. At current prices, it has a pre-tax IRR of 27% and attractive economic upside through conversion of the existing resource to reserve, as well as resource addition from exploration once underground access has been established. We are starting small with initial capital estimates of approximately $22 million to get into production. The project is expected to produce 5.5 million ounces of silver, 254 million pounds of zinc and 97 million pounds of lead over an initial reserve life of 5.5 years at negative silver all-in sustaining costs.”

La Fiscalía General del Estado (FGE) y autoridades del estado de Sinaloa, confirmaron ayer el desplome del aeronave tipo Cessna 206, con número de matrícula XBM-FY, que despegó el pasado martes del municipio de Angosturas, Sinaloa y cayó en la sierra de Mocorito, Sinaloa, con saldo de seis personas fallecidas.

El nombre del piloto es Gildardo Lugo Ochoa, con 31 años de edad, originario de la ciudad de Guamúchil, en ésta viajaban también dos mecánicos y dos geólogos, quienes laboran para empresa minera Dyna Resources de México SA de CV, los acompaña además el copiloto.

Mr. Alain Lambert, Chairman and CEO of Cyprium stated: “The rehabilitation of shaft #3 of the Potosi mine and the exploration at level 2, 3 and 4 of the mine continue to progress on budget and according to schedule. The main activities over the last two months consisted in the overhaul of the rail system for the extraction of mineralized material, the repair of the hoist and implementation of various measures for improved safety in the mine. Over the next six weeks we expect to proceed with the installation of the necessary drilling and mining equipment infrastructure at level 3 and 4 of the mine, including the installation of a new air compressor.”

“This PEA update quantifies the economic benefits of the El Sauzal facilities acquisition on the already-robust Ana Paula Project. We continue to view Ana Paula as one of the best development-stage gold projects in Mexico,” commented Mark Backens, Interim CEO. “Total initial capital estimate has been reduced by approximately $42 million. It is also important to note that because we have already acquired essentially all of the equipment and materials the risk of capex overruns and delivery delays has been significantly lowered.”

Orex’s President, Gary Cope says, “Our understanding of the high-grade silver mineralization at Sandra Escobar continues to grow. Still to come are the results for 7 more holes from the Phase-I drilling program, as well as the new drill holes from Phase-II.”

President, Lawrence Page Q.C. stated “Since May 2011, Cerro Las Minitas has developed from a prospect into a resource with great potential to become a significant economic deposit. Continued growth is expected along the 25 kilometres length of the 13,700 hectare property. We have succeeded, during one of the most severe bear markets in recent history, in purchasing the property for a cost of $US 3.6 million, conducted extensive geophysical evaluation and 32,719 metres of diamond drilling, at a cost of $7.5 million resulting in the resource announced today. Significantly, the property is not burdened with royalties thus enhancing the economics of mining and processing.

Azure’s Managing Director, Tony Rovira described this gold intersection as “very positive for the mineral potential of the project”.

“This result strongly complements the nearby Mesa de Plata silver deposit and confirms the prospectivity of the Mesa de Plata – Loma Bonita area for hosting a large precious metal mineralised system. Significantly, the mineralisation is situated at surface within oxidised rocks, as is the nearby Mesa de Plata silver mineralisation. I am confident that our ongoing exploration will continue to reveal more significant occurrences of silver and gold mineralisation in this locale and within the greater Alacrán project area.”

The Company is pleased to announce that the 2016 exploration program on its 100% owned san Timoteo property located in the Uruachic district of Northwest Mexico is now underway. The program will involve using the Company’s Terraspec machine to analyze clay minerals from existing drill core and other samples especially from the area of the 500 level San Martin adit. This will allow the company to build a 3D model of clay mineralogy which will aid in the planning of future drill holes.