Category: Exploration and Development

First Mexican Gold Corp. is pleased to announce that it has signed a non-binding letter agreement with Link Natural Resources FZC, a private entity in the United Arab Emirates (Dubai), to enter into a 50/50 Joint-Venture with the intent of putting the Karen zone into production at the Company’s Guadalupe property in Sonora, Mexico. The agreement is subject to a 30 day exclusive due diligence period.

Endeavour Silver Corp. announces that infill drilling on the Terronera property in Jalisco State, Mexico continues to define high grade, silver-gold mineralization within the Terronera vein system. The main mineralized zone extends over 1,400 metres in length, and is still open along strike to the southeast and down dip.

Marlin Gold Mining Ltd. announces that as a result of heavy rains in September, the La Trinidad gold mine has sustained damages. Among them was the dewatering equipment located within the pit, including pumps, electrical equipment and generator power source to the pump. As a result of the damage to our dewatering equipment within the pit, the pit has taken on water. All other equipment and infrastructure at the mine remains operational.

Agnico Eagle Mines Limited is pleased to provide an update on exploration drilling results at its El Barqueno gold project in Jalisco State, west-central Mexico, and an update on exploration activities at the Creston Mascota deposit at Pinos Altos (“Creston Mascota”) and the La India mine in northern Mexico.

“We are very pleased with the early results from our exploration programs at Cerro Pelon and La Yaqui with step-out drilling indicating the potential to expand the mineral reserve and resource base at both deposits. These satellite deposits are expected to provide our lowest cost production at Mulatos and are a significant source of near term production growth. These remain our highest priority exploration targets at Mulatos. Following up on the strong results to date, we are adding additional rigs to target these new zones of mineralization through the end of this year,” said John A. McCluskey, President and Chief Executive Officer.

Torex Gold Resources Inc. is pleased to announce that its 100% owned subsidiary Minera Media Luna, S.A. de C.V. has signed a letter of intent with the Ministry of Public Safety of the State Government of Guerrero, endorsed by the Federal Government, for the provision of permanent police presence in the areas adjacent to the Company’s Morelos Gold Property in southwest Mexico.

Timmins Gold Corp. is pleased to announce that it has entered into an agreement with a Mexican subsidiary of Goldcorp Inc. to acquire the complete process plant and select auxiliary equipment used in the operation of Goldcorp’s El Sauzal Mine in Chihuahua, Mexico. The El Sauzal Mine was operational until December 2014 when it began its closure.

Baja Mining Corp. has been advised by Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. that access to and from the Boleo site located near Santa Roselia, Baja California Sur, Mexico is being restricted by the local authorities. Senior management of MMB has informed Baja that the Municipality of Mulegé has claimed it is entitled to certain construction permit-related payments from MMB. The restrictions result directly from these claims. Baja and MMB believe that resolution of the legal appeal launched to resolve this matter still remains before the courts and consequently the Municipio has acted without legal authority in imposing restrictions.

Minera Alamos Inc. reported today that it has commenced drilling on the North Deposit of its 100% owned Los Verdes project in Sonora Mexico. The Company purchased the North Deposit (formerly Potreritos) in late 2011 from the General Mines Direction of Mexico in order to extend the mine life of the Los Verdes project.

Coring and testing completed to date, and calculated on a NI 43-101 compliant basis, verified by expert third parties, have determined that the resource estimate includes 588 million tonnes of phosphate ore with an average in situ P2O5 of 18.1%, comprised of 114.9 million ore tonnes of measured phosphorite, 243.6 million tonnes of indicated phosphorite and 229.9 million tonnes of inferred phosphorite. This is an increase of 19% from the last reported resource estimate of 494 million (measured, indicated, inferred) tonnes of phosphate ore.