Category: Exploration and Development

BACANORA MINERALS LTD., the Canadian and London listed lithium and borates company, is pleased to report an updated Mineral Resource estimate for the Sonora Lithium Project in Mexico, which has seen its Indicated Minerals Resources increase by over 300% to 5 million tonnes of lithium carbonate equivalent. In addition, the Project’s Inferred Mineral Resource has been estimated as a total of 3.9 Mt of LCE contained within the deposit.

Rare Earth Minerals Plc has today reported an updated Mineral Resource estimate for the Sonora Lithium Project in northern Mexico, which has seen its Indicated Mineral Resources increase by over 300% from 1.1 million tonnes to 5 million tonnes of lithium carbonate equivalent. In addition, the Project’s Inferred Mineral Resource has been estimated as a total of 3.9 Mt of LCE, increasing the overall Indicated and inferred resources from 7.4 Mt LCE to 8.8 Mt LCE.

First Mining Finance Corp. is pleased to announce that it has signed an option agreement with Exploraciones Mineras Peñoles, S.A. de C.V., an indirect Mexican subsidiary of Industrias Peñoles S.A.B. de C.V. under which Peñoles may acquire First Mining’s Puertecitos and Los Tamales copper properties located in northern Sonora, Mexico within the prolific Sonora-Arizona, Copper Belt. The region hosts large copper-molybdenum porphyry deposits, such as at the world-class Cananea and La Caridad copper mines. All dollar amounts included in this news release are expressed in U.S. dollars.

Caza Gold Corp. announces that the $300,000 debt financing raised late last year for working capital has been retired. The financing was in the form of a demand loan bearing simple interest at 9% per annum. Nine of the 16 lenders were either management or directors of either Caza or Canarc Resource Corp.

Southern Silver Exploration Corp. reported today that Electrum Global Holdings L.P. has provided an additional tranche of funds to Southern Silver as operator and now has contributed a total of US$2.0 million and earned-in for an indirect 30% interest in the Cerro Las Minitas project in Durango, Mexico.

Starcore International Mines Ltd. announces that with the financing in place as announced in its news release of November 17, 2015, the Altiplano Gold & Silver processing plant in Matehuala, Mexico is ready to accept concentrates for processing.

“The Altiplano Plant will be processing gold and silver concentrates in the next two weeks,” said Robert Eadie, President and Chief Executive Officer of Starcore.

Riverside Resources Inc. is pleased to announce that it has acquired two large recently released mining concessions through a lottery process. The combined concessions obtained by Riverside cover approximately 2,305 hectares (~23km²) and comprises an integral part of the historic La Silla district.

Minera Alamos Inc. reported today that the Company’s engineering team has now completed the re-design and optimization of plans for the production plant at its 100% owned Los Verdes project in Sonora Mexico. The team has also provided new recommendations for the location of that plant. Minera Alamos is now working with these new specifications to source both new and used equipment appropriate for the project.

Warren Rehn, President and Chief Executive Officer of Golden Minerals, commented, “We are excited at the potential of the high-grade Santa Rosa vein to provide near-term feed for our sulfide mill at Velardena and look forward to getting underway with drilling in early 2016 as soon as we receive the necessary permits.”

Prospero Silver Corp. is pleased to announce that it has entered into an agreement with Golden Minerals Company of Golden, Colorado to confirm the viability of and, if determined to be favourable, to conduct mining operations on the Santa Rosa vein system, located on Prospero’s San Luis Cordero property in Durango State, Mexico. Golden Minerals owns the Velardeña Mine, presently on care and maintenance, located approximately 90 km from Cordero. This new arrangement contemplates Golden Minerals transporting ore from Cordero for processing at Golden Minerals’ existing 300 tpd sulphide plant. The principal operational agreements for this arrangement are between each of the party’s wholly-owned Mexican subsidiaries; Prospero’s subsidiary Minera Fumarola, SA de CV, and Golden Minerals’ subsidiary, Minera William SA de CV.