Category: Exploration and Development

BACANORA MINERALS LTD., the Canadian and London listed lithium and borates company based in Mexico, is pleased to provide an update on progress on the ongoing development work that is being conducted in connection with its upcoming pre-feasibility study at its Sonora Lithium Project. This ongoing development work and the resulting PFS are expected to be used to design a plant capable of potentially delivering up to 50,000 tonnes per year of lithium carbonate. This highlights Bacanora’s strategy to continue the transition from an exploration company into a mine development company.

Up to 10,000 metres of core drilling is planned as part of the $US 2 million, 2015 exploration program and will target both known zones of mineralization and new discoveries on the property. An initial five holes will test the Blind and El Sol mineralized zones to up to 600 metres depth. Success in this drilling could significantly expand the depth and strike projection of these mineralized zones. Further holes will test for new zones of mineralization in the Mina La Bocona and the North Skarn zones and will test other geophysical and geochemical targets outboard of the Central Intrusion.

Defiance Silver Corp. is pleased to report that results from a further three holes drilled in its Phase I core drilling program on the San Acacio deposit have extended the wide, high grade mineralization encountered in the first three holes eastward by 100m. Phase I is designed to test for a continuation of mineralization at depth and along strike beyond the current resource and the workings of the past producing San Acacio mine.

Timmins Gold Corp. is pleased to announce that the Company has commenced drifting into the underground veins parallel to the south wall of the San Francisco pit. The drift is part of a pilot phase designed to test the mining and processing of the underground ore in preparation for full scale underground mining.

A fin de planificar la explotación de recursos minerales, la empresa Datamine, mediante el Comité de Talento Humano del Cluster Minero de Zacatecas (Clusmin), facilitó el seminario Plan Agotativo de Reservas, en el que participaron alrededor de 40 trabajadores de diferentes unidades mineras.

David Coburn, CEO of Gainey Capital commented, “We are very excited to be moving forward with a detailed mapping and sampling program to identify key drill targets at our El Colomo mineral concessions. We have strategically aligned ourselves with the local Indian community and put in tremendous effort to garner their ongoing support, which has allowed the company to seamlessly advance to this stage of our exploration program. We look forward to their ongoing support of our exploration activities at El Colomo and advancing the project to the next stages of exploration.”

Argonaut Gold Inc. is pleased to provide a drilling update for its 100% owned San Agustin project. The project is located just 10 kilometres southwest from the Company’s El Castillo Mine in Durango, Mexico. The Company completed a Preliminary Economic Assessment on the project in February, 2015. The San Agustin PEA resulted in a pit-constrained indicated resource of 845,000 gold ounces and 28 million silver ounces contained in 82.2 million tonnes of material at a grade of 0.32 grams per tonne gold and 10.7 g/t silver, for a total of 1,280,000 gold equivalent ounces…

Bradford Cooke, Chairman and Founder of Canarc,commented: “Today’s announcement marks an important step forward for Canarc in that the El Compass property is an advanced stage mining project fully permitted for mining. Appropriate plant and tailings sites on the property were part of the permitting process. Oro Silver represents a great opportunity for Canarc to take advantage of our extensive management and board operating experience to build and operate a high grade mine in Mexico.”

Baja Mining Corp. reports that further to its news release dated April 30, 2015, and details of the amended cash call notice dated May 17, 2015, as previously described in the Company’s Management Discussion & Analysis for the quarter ended March 31, 2015 (available on www.sedar.com), Baja has received from Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. a defaulting notice in respect of the Amended Cash Call. Pursuant to the Amended Cash Call, Baja was required to contribute US$7,600,000 no later than June 16, 2015, by way of either shareholder loans or subscriptions for new shares, with which it was unable to comply.

GREAT PANTHER SILVER LIMITED provides an update on its diamond drilling programs for the second half of 2015. Approximately 21,800 metres of drilling are planned for the Guanajuato Mine Complex, the Guadalupe de los Reyes Project in Mexico, and the Coricancha Mine Complex in Peru. Including the latter two new projects, total metres of drilling for 2015 are expected to be approximately 29,700 metres, compared to the Company’s previous guidance of 19,000 metres.