Category: Exploration and Development

“Breakthrough of the Guajes Tunnel is a critical milestone in the development of the Media Luna Project, which remains on track for first concentrate production in late 2024. The Guajes Tunnel will be the primary conduit for transporting ore and waste from the Media Luna deposit on the south side of the Balsas River to the processing plant on the north side and will materially improve efficiencies associated with the movement of employees, contractors, equipment, services, and supplies between both locations.”

Gavilanes comprises of eleven concessions (13,594.5 hectares) located in the Sierra Madre Occidental Province in southwestern Durango. The Property has a current NI 43-101 Inferred Resource of 18,174,000 contained silver-equivalent ounces at an average grade of 320.3 g/t Ag-Eq within 1,765,000 tonnes.

Geological logging indicated attractive alteration for potential gold mineralization in multiple holes of the 13 hole program. The visual logging of the RC chip samples shows evidence of wide zones of oxidized, strongly altered rocks with multiple veinlets, similar to previously drilled zones at the Cervantes Project.

Scott Emerson, President, commented: “This year the exploration was successful in tracing both the past producing Soledad and Soledad II structures, and identifying a new 3rd structure at Las Coloradas. These represent wide, high-grade, near-surface structures with the potential to deliver significant silver deposits.”

The results fit within the larger context of a district scale gold-silver composite dome system with superimposed gold-rich veins. Past drilling by Riverside intercepted high-grade gold in 4 of the 7 holes and this sampling over new areas, doubles the strike of the defined mineralization footprint.

Ian McGavney, President & CEO of Colibri commented: “Our new discovery at the West Sahuaro Zone is the thickest, most continuous, and highest grade gold mineralization intersected to date on the Evelyn property. We are extremely pleased with these results. The grade of mineralization discovered is approaching the reported production and resource grades at mines and development stage projects in the Caborca Gold Belt.”

“2023 was yet another exciting year of exploration and growth at Panuco,” commented Michael Konnert, President & CEO. “We started off the year with the achievement of an important milestone by announcing a significant update to the maiden resource which highlighted a material increase in both project grade and contained ounces. Drilling throughout the year continued to expand know mineralization particularly at Copala which has now doubled in strike length relative to the January 2023 MRE.”

“Our objective is to provide investors with exposure to silver, and the La Colorada Skarn provides that exposure in scale, with annual silver production estimated to average 17.2 million ounces during the first 10 years.”

Solway Investment Group, a Switzerland-based mining company with interests in Guatemala, says it agrees with a regional court’s decision requiring the Guatemalan government to recognize the property rights of an Indigenous community

“The Luisa structure continues to grow laterally with new high-grade, near surface intervals,” commented Michael Konnert, President and CEO. “Mineralization at La Luisa has now been traced by drilling for over 1,250 metres along strike with an untested gap situated closer to surface that measures ~400 metres long. This has the potential, given ongoing exploration success, to add additional mineralized strike to La Luisa beyond the data cut off for inclusion in the pending mineral resource update planned for January 2024.”