Orex Minerals Inc., in conjunction with their project partner Fresnillo PLC, have now mobilized a third exploration diamond drilling rig to their Coneto Silver-Gold Project in Durango, Mexico. A joint technical committee, with both Orex and Fresnillo representation, is guiding the Coneto project, with Fresnillo as the operator.
Torex Gold Resources Inc. is pleased to announce that the Company, through its subsidiary Minera Media Luna, S.A. de C.V. has signed a credit agreement with BMO Harris Bank N.A., BNP Paribas, Commonwealth Bank of Australia, ING Bank N.V., Société Générale, and The Bank of Nova Scotia and other definitive documentation with respect to its previously announced syndicated senior secured US$375 Million project finance facility that is due to mature June 30, 2022. The Loan Facility will be used for the development of the El Limon-Guajes Project, located on the Company’s 100% owned Morelos Gold Property in Mexico. With the completion of the Loan Facility, the development of the Project as currently proposed is fully financed.
Primero Mining Corp. today announced it has approved the second phase expansion of its San Dimas gold-silver mine in Mexico. The Company previously elected a staged approach to the full expansion and after successfully completing the first phase of the expansion has now approved the required capital to expand the San Dimas mine and mill to 3,000 tonnes per day or approximately 210,000 to 220,000 gold equivalent ounces per year. Construction of the mill expansion is expected to begin during the first quarter of 2015, with an estimated completion during the second quarter of 2016.
Monarchy Resources, Inc. is pleased to announce that now that New World Metals is in the final stages of completing construction of its first 20 ton per day mill, New World is seeking to commence construction on a second, larger mill that will have the capacity to process up to 100 tons of ore per day. The plan is to erect the larger mill at the present location, outside Parral, while the smaller mill is in operation. Once the 100 ton per day mill is fully operational, New World intends to mobilize the 20 ton per day mill directly on site at the Morelos Mine. New World still anticipates sending its first shipment of gold and silver concentrate by late August
Soltoro Ltd. has been advised by Gold Reserve Inc. that it will not continue with its option to earn-in to Soltoro’s La Tortuga project. Gold Reserve cited poor market conditions and a need to preserve capital as the main reasons for terminating the option. Gold Reserve was awaiting a drill permit in order to carry out a preliminary drill program.
Amarium Technologies, Inc., through it’s wholly owned subsidiary Amarium Minerals Inc., reports the commencement of the ore extraction program at the recently acquired El Desvan Cobre mine. El Desvan is located in the Mexican state of Michoacan, within close proximity to both the Company’s producing copper mines, San Pedro and La Jovita.
SOURCE EXPLORATION CORP. is pleased to announce that Phase 2 drilling at the Santa Cruz target of its Las Minas gold project located in Veracruz State, Mexico has intersected long near surface intervals of high-grade gold, silver and copper mineralization, including 3.57 g/t Au Eq(1) over 99.0 metres in diamond drill hole LM-14-SC-08. A higher grade interval assaying 24.11 g/t Au Eq over 9.0 metres is contained within the wider intersection.
Further to its news releases of May 14, 2014, and June 19, 2014, Garibaldi Resources Corp. is pleased to report that several additional diamond drill holes have confirmed the discovery of a shallow, high-grade mineralized system with apparent open-pit potential at the Company’s Silver Eagle target (Rodadero North Project) in central Sonora State, Mexico. A second stage of drilling is starting immediately with SE-14-07 and will continue through the Mexican rainy season.
Monarchy Resources, Inc. is pleased to announce that New World Metals is in the final stages of completing construction of its mill. The mill is located 15 kilometers outside of Parral, Mexico, and will be used to process ore currently stockpiled and being mined at the Morelos, La Luna and Peneto mines. The mill will have the capacity to process 20 tons a day and produce gold and silver concentrate through a single-stage flotation circuit process. New World has signed an LOI with a reputable commodities broker for the sale of its concentrate and anticipates sending its first shipment of gold and silver concentrate by late August 2014. New World continues to develop its underground operations at each of its three operating mines.
GoGold Resources Inc. of Halifax reported Thursday that new drilling has added to the resource at its Santa Gertrudis gold mine in Sonora, Mexico.
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