Category: Exploration and Development

Millrock Resources Inc. announces that surface exploration is underway at the Los Chinos and Los Cuarentas gold projects in Sonora State, Mexico. The projects are the subject of a previously-announced option to joint venture agreement with Centerra Gold Inc. Under the option agreement, Centerra can earn a 70% interest by completing US$5.0 million in exploration expenditures over a five-year period at Los Chinos, and US$2.0 million at Los Cuarentas.

Mr. Barry Devlin, Vice President of Exploration, stated, “This latest round of drill results from Switchback continues to define, as well as expand, this impressive polymetallic vein system comprised of multiple en echelon veins. In particular, step-out Hole 516115 expands high-grade mineralization to the southeast where we had thought precious metal grades may have started to decrease. It is also exciting to see some of the highest gold grades drilled to date at Switchback in these latest intercepts. Our primary exploration goal is to continue expanding the Switchback epithermal vein system in the Arista Mine.”

The Company is pleased to announce that exploration field work is currently being conducted by Fresnillo plc on some of the Company’s Uruachic properties pursuant to the Option Agreement signed between Minera Delta, S.A. de C.V. (the Company’s wholly owned Mexican subsidiary) and Desarrollos Mineros El Aguila, S.A. de C.V. (a Fresnillo plc’s subsidiary) dated November 5th, 2015. Sampling and other work is being conducted by Fresnillo personnel and a report on the work will be given to Golden Goliath at the year end.

En el marco del evento CANCHAM DAY2016 – Business Beyond Borders, mismo que se llevó a cabo el pasado jueves 26 de mayo, en el Hotel Camino Real Polanco, de la Ciudad de México, El Dr. Luis Chávez Martínez, Senior Vicepresidente México de Álamos Gold Inc. recibió el premio Outstanding Business Award (COBA) otorgado por la Cámara de Comercio Canadiense en México CanCham, por las acciones de Responsabilidad Social Empresarial llevadas a cabo por Minera Santa Rita, empresa filial de Álamos Gold Inc. especialmente en su participación con el proyecto, Taller de Costura que se creó para dar empleo a mujeres del Ejido 16 de Septiembre en el Municipio de Altar, Sonora.

Highlight for this batch of holes is SA-16-038 in a step-out hole, 350 metres west of the Main Zone, which yielded 46 metres core length (26 m true thickness) grading 156 g/t silver, starting from surface. Within this is a sub-interval of 8 metres (4.5 m true thickness) grading 282 g/t silver.

Mexus Gold US announced that work on the Santa Elena mine is progressing as planned. On My 24th, representatives from MarMar holdings and Mexus held a meeting and adopted a mining plan with numerous items being discussed and agreed upon. Out of this meeting came the decision to obtain a blasting permit in the name of the JV as opposed to using a blasting contractor. The parties can control costs and manage the process more efficiently than using an outside vendor. It will take 4 to 6 weeks to obtain this blasting permit allowing time for our partner to bring in additional equipment. In the end, this property will be brought into full production faster and much larger than first anticipated.

Mr. Alain Lambert, Chairman and CEO of Cyprium commented: “Over the last three months we have replaced almost 1.5 kilometers of railway tracks at level 0 and at level 4. This includes the installation of railway tracks between an existing raise from the level 4 proposed initial mining area to shaft #3 as well as the installation of railway tracks in the level 4 mining area where much of our near-term mining activities will take place. New air and water tubing has been installed and we have rehabilitated existing equipment including two air-loaders and a small electric locomotive. Once we have re-assembled the air compressor which was brought down into the mine last week, we will turn our focus on cleaning up old stopes in level 2, 3 and 4, retrieving existing mineralized material from past mining operations and initiating drilling and blasting.”

David Coburn, CEO of Gainey, commented, “the commencement of the Phase 1 Drilling Program will target four out of the 21 high priority Mineralized Zones at El Colomo that have already been identified by the Company’s technical team. Our most recent exploration activity on the Project, which includes assay results and detailed mapping, gives us reason to be optimistic that the anticipated results of our Phase 1 drilling program will be the foundation of building a great company.”

Orex’s President, Gary Cope says, “Drilling continues to yield thick intercepts of disseminated silver mineralization showing continuity in the Main Zone. Identification of silver on Cerro Chato and in several other areas bodes well for the next phase of exploration.”

Marlin Gold Mining Ltd. is extremely pleased to announce that it has commenced mining at the high grade HS Zone at its wholly owned La Trinidad mine in Sinaloa, Mexico. The past one and a half years of commercial mining has been in preparation for this milestone, and over the course of the next weeks and months, La Trinidad will transition from being a high cost operation to become one of the lowest cost gold mines in the world.