Category: Exploration and Development

Chief Operating Officer, Greg Liller commented, “I am very pleased with the operating results to date. The Guitarra team is doing an excellent job of moving operations towards a sustained production rate of 350 tonnes per day, our next test production goal. Upon achieving 350 tonnes per day the team has an orderly plan in place to move towards 410 tonnes per day, then to the commercial mining and processing rate of 500 tonnes per day before year end”.

“Our PDA development plan to be released later today is expected to outline another attractive, high-return project that will nearly triple the current mine life of the Mulatos District. The development plan will be based on PDA’s current Mineral Reserve of one million ounces which had more than doubled over the previous two years. Our continued exploration success at PDA in 2024 highlights the significant upside potential to the project through further growth in higher-grade Mineral Reserves and Resources,” said John A. McCluskey, President and Chief Executive Officer.

“I am thrilled to announce the start of this fully-funded drill campaign” said Peter Latta, President. “Our team on the ground, as well as our technical advisors, have done a tremendous job collecting, analyzing and synthesizing all the data for these targets. I am eager to see the what possible mineralization lies underneath the out-cropping NW-SE trend of old workings and mineral occurrences that we have been able to identify.”

Scott Smith, Executive Vice President of Exploration, added, “The holes released today include some of the southeastern-most holes we have drilled to date, collared at over 550m along strike from the southeast Z-T pit crest. These holes intersected mineralization at elevations between 370m to over 450m (above sea level). We know that the areas where mineralization occurs in this structure also extend above and below these elevations, which in turn provides great targets to continue to expand Z-T in this direction.”

“We are very pleased with the results of the resource drilling,” stated Robert Archer, Electrum President & CEO. “In particular, the continuity and high grades of copper mineralization within and adjacent to the breccia pipe, the discovery of high-grade copper extending to depth, the extension of gold mineralization and the discovery of bonanza-grade molybdenum and even silver, will all have a significant impact on the resource estimate to be prepared by Stantec in the coming months.”

“The Company is very pleased with the progress being made since implementing the new operating plan for the Santana gold mine in June. Mining and stacking rates are now approaching levels last achieved in 2022 and as the lagging gold leaching recoveries naturally expand we are looking forward to a forecasted return to cash generation at Minera in Q4 of this year.” stated Darren Koningen, CEO.

Akiba Leisman, CEO of Mako states, “these drill results further indicate the potential to expand high grade mineralization in areas where we are currently mining. However, what is particularly exciting about these exploration data is the high-grade reconnaissance exploration program results we are receiving within our 188 square kilometer land package.”

“Infill drilling at Copala continues to highlight excellent precious metals continuity,” commented Michael Konnert, President & CEO. “Our recent infill campaign focused on upgrading resources within the area designated for the first two years of potential production.”

Silver Tiger’s CEO, Glenn Jessome, stated, “As we progress to a PFS in September 2024, this release marks the last of the promising drill results from the PFS Drilling Program” Mr. Jessome further stated, “These results further de-risk the project and, coupled with the advantageous geotechnical and metallurgical results, increase the confidence and size of the El Tigre Project.”

James Anderson, Chairman and CEO, said, “As our consolidation of the Guanajuato Mining Camp continues in step with the ongoing upgrading at our four producing precious metals mines, we would like to provide our investors with an update on the latest initiatives we are implementing as we continue our rapid path of growing Guanajuato Silver into a mid-tier silver producer.”