Category: Exploration and Development

MORRO BAY RESOURCES LTD. announces that, further to the news release dated July 7, 2014, the $500,000 summer exploration program at the Peñoles property has commenced. Riverside Resources Inc. and Morro Bay have agreed that the Summer Exploration program will be focused on targets in the prospective areas at Peñoles beyond the previously confirmed deposits at the El Capitan and Jesus Maria targets. This summer exploration program consists of sampling, trenching, and drilling on some of these identified potential targets on the property.

CANGOLD LIMITED reports that it has received final approval from the TSX Venture Exchange on the previously announced transaction for the option to acquire up to a 100% interest in the mining rights to the Guadalupe de los Reyes Gold-Silver Project in Mexico and the non-brokered private placement financing.

Mexus Gold US announced today that it has signed an agreement with North Pacific Gold Inc. for cable salvage, surveying, and mapping of off shore cable in the State of Alaska. North Pacific has a 100′ vessel equipped with heavy lifting capabilities and support equipment that is perfect for surveying, mapping, and sampling operations in the offshore waters of Alaska. Mexus will contribute support, knowledge, and stored cable equipment to North Pacific. In exchange, Mexus will receive 11% of any cable that might be recovered by North Pacific from 8/4/2014 thru 8/4/2020. North Pacific is headed up by Paul Thompson Jr. who has worked tirelessly to provide the vessel and other logistical support to make this operation possible. This agreement allows Mexus to benefit from the off shore cable salvage program yet stay focused on its Julio/Santa Elena Mexico mining operation. Paul Thompson Sr, CEO of Mexus Gold US, stated, “I want our shareholders to understand that this vessel was funded by outside parties and doesn’t affect our plans in Mexico.”

Pan American Goldfields Ltd is pleased to announce that the Judge of the Eighth Civil Court of the Morelos Judicial District has ruled in favor of Sunburst Mining de México SA de CV, a wholly-owned subsidiary of the Company, to force MRT to fulfill all its contractual obligations despite the lawsuit (mercantile ordinary procedure) filed by Corporativo Minero with the Second Civil District Court of the Morelos District, Chihuahua. According to the production agreements between MRT and Sunburst Mining de México SA de CV / Pan American Goldfields Ltd, MRT has to pay Sunburst de México the money owed to it for the production of the last quarter of 2013 and provide monthly and quarterly financial reports of the operation and audit the books of the operation on an annual basis and cooperate and act in good faith to assist Pan American Goldfields with its disclosure and audit requirements.

Grupo Mexico, one of the world’s largest copper producers, is nearing a deal to acquire Mitsui & Co.’s 25% stake in the Silver Bell copper mine in Arizona for about $120 million, according to people familiar with the matter.

Cayden Resources Inc. is pleased to announce additional drill results from Angostura, the third of nine priority targets being tested at the Company’s El Barqueño Gold project located in Jalisco State, Mexico.
Highlights include 8 meters of 16.1 g/t Au including 2.0 meters of 41.9 g/t Au in hole 91 and 55 meters of 0.92 g/t Au and 0.30% Cu in hole 86.

Kootenay Silver Inc. is pleased to announce drill contracts are in place, drill targets have been identified and road construction is underway in preparation for an upcoming phase I drill program on its La Negra Diatreme Breccia prospect, located approx. 7 kms north of Kootenay’s flagship Promontorio Silver Resource in Sonora, Mexico. Drilling is slated to commence in lateAugust 2014 and is expected to include a minimum 2,500 meters of core drilling.

Riverside Resources Inc. is pleased to announce results from the recent exploration program and upcoming plans at the Cajon Project in Sonora, Mexico. Riverside conducted an exploration program consisting of detailed rock sampling and structural, geologic, and short-wave infrared (SWIR) alteration mapping. This work has led to the discovery and initial delineation of gold-bearing vein zones similar to those found at the Herradura Mine (operated by Newmont-Fresnillo) located 147 km to the northwest and the San Francisco Mine (operated by Timmins Gold) located 60 km to the east. At Cajon, the initial target area of San Blas has been the primary focus so far with very promising results from rock samples taken to date. A total of 294 rock samples were collected, averaging 0.51 g/t gold (Au), including 20 samples with grades above 1 g/t Au and two samples of 37.9 and 19.11 g/t Au.

MAG Silver Corp. announces assay results from its twelve hole, 6,500 metre Phase 2 drill program on the Salamandra Property in Durango, Mexico optioned from Canasil Resources Inc. Phase 2 drilling began in late February of 2014 and concluded in May. The Phase 1 assays were released in a press release dated March 17, 2014, and combined with Phase 2, MAG has now drilled 10,112 metres in 17 holes on the Salamandra property, complementing an initial 12 holes previously drilled by Canasil.

Odyssey Marine Exploration, Inc., a deep-ocean exploration company, has now placed operational reports and inventories of items recovered from the SS Central America shipwreck site on the company’s website at www.shipwreck.net/ssca.php.