Category: Exploration and Development

BACANORA MINERALS LTD. the Canadian and London listed lithium and borates development company focused on Mexico, is pleased to provide an update on the Company’s upcoming milestones relating to its on-going transition from an exploration to a mine development company.

United States Antimony Corporation reported that the Company’s Los Juarez Mexican property had a gross value of $114.56 per metric ton (3.00 gpt) at current prices for gold, silver, and antimony based on its most recent assay results. By mining the jasperoid selectively, the gross value increased to $137.13 per metric ton (3.59 gpt). The mineralization is present in large pipes of jasperoid that intrude the limestone from depth. The pipes are present over a strike length of 3.5 kilometers and a width of up to 1 kilometer. The Company intends to drill selective areas of the property using a company owned drill…

Excalibur Resources Ltd. has sold its 49% interest in Minera Catanava to its 51% partner Minera Apolo for US$75,000. Over a period of 4 years, the plant was unable to generate positive cash flow, due to lower than expected average grades, recoveries and concentrate purchase prices. In addition, there were ongoing equipment breakdowns, low volumes, water shortages, etc such that there was no justification for further investment.

Cyprium Mining Corporation is pleased to announce details regarding the expansion plans of its flotation plant located in Aldama, Mexico. The plan has two main objectives. The first objective is to optimize plant processes and improve efficiencies to maximize recoveries in order to ensure satisfactory margins. The second objective is to double the current plant capacity to 200 tons per day. The planned investments, which started in May, should take about four months and total approximately US $400,000.

“Today we mourn the passing of a great figure in Canadian mining,” commented Brendan Cahill, President and Chief Executive Officer. “He was an entrepreneur who experienced success in many industries worldwide. He was a connector of people and ideas who asked for nothing in return. He was selfless in his work and fundraising for charitable causes. He was an exceptional mentor, for so many as well as myself. Our deepest condolences go to Peter’s family and all of the people he touched over the years.”

Gainey Capital Corp. is pleased to announce that it has signed a Confidentiality Agreement with Ignacio Echavarria Valenzuela of Cosala Mining Corp. Gainey is in the process of receiving mineralized material from a number of Cosala’s concession holdings located in the Sierra Madre mining district in the state of Sinaloa, Mexico. This shipment of material is to be sampled and assayed at Gainey’s, 100%-owned, 300-tpd Processing Centre, which is in close proximity to Cosala’s properties.

Torex Gold Resources Inc. is pleased to announce that it achieved the 2/3rds completion milestone in the construction of its flagship El Limon-Guajes Project at its 100% owned Morelos Gold Property in Mexico. The Company also announced that a draw of $50 million on its debt facility was received at the end of May.

Azure’s Managing Director, Tony Rovira, stated: “While the IP and soil sampling surveys are in progress at La Morita and San Simon, we’ve continued our exploration activities across the wider Alacrán property. Results continue to exceed our expectations, with several new areas returning strong precious and base metal mineralisation which we are following up.

“We are very pleased with this preliminary economic assessment, as it demonstrates the exceptionally high returns of the optimization project proposed for Platosa, with a modest capital investment,” stated Brendan Cahill, President and Chief Executive Officer. “Platosa has been Mexico’s highest grade silver producer for over a decade and we now see the clear opportunity to resume being one of the lowest cost producers in the silver industry…

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 (m) in length, and is still open along strike to the southeast and down dip.