Category: Exploration and Development

Riverside Resources and Fortuna Mining reported progress at the Cecilia Gold Project in Sonora after completing a five-hole, 2,250 m Q4 2024 drill program that hit gold mineralization in all target areas and showed broad epithermal alteration. The results helped refine district-scale targets, and Phase 2 exploration has now begun to follow up on these encouraging indicators.

Akiba Leisman, CEO of Mako states “these drilling and channel sample results were taken as part of a geotechnical drilling program to finalize engineering parameters and site infrastructure layout selection in preparation for submitting our environmental permit application later this year. The grades and widths received from this program are matching or exceeding those defined in the resource model from the 2024 PEA, which showed an after-tax NPV 5% of US$ 292 million at US$1,850 gold.”

Jody Kuzenko, President & CEO of Torex, stated: “The Media Luna Project is now in its final months, sitting at 94% complete as of the end of 2024. We are well on track to complete the project and produce first copper concentrate by the end of Q1 2025, with engineering concluded, procurement substantially complete, underground development tracking well ahead of schedule, and surface construction advancing per plan.”

Kingsmen Resources reported that continued high-grade silver sampling at its 100 %-owned Las Coloradas project in Chihuahua, Mexico shows mineralization across the full strike of the Soledad and Soledad II structures. The company also identified a new drill target area (DBD) between historic workings, boosting confidence ahead of its planned drilling.

“The success at Santa Elena continues,” stated Keith Neumeyer, President & CEO of First Majestic. “The exploration program at Navidad during H2 successfully expanded the high-grade gold and silver mineralization of the Navidad discovery, extending mineralization closer to the Ermitaño mine infrastructure.”

Mithril Silver and Gold Limited (ASX: MTH) December 2024 Quarterly: 7,138m drilled at Copalquin, Mexico, with high-grade hits expanding Target 1 (e.g., 4.60m @ 5.51 g/t Au, 182 g/t Ag). Maiden resource update Q1 2025; raised A$16.9M; cash A$15.74M; exploration spend A$1.756M.

Prime Mining Corp. Chief Executive Officer Scott Hicks commented, “Step-out drill holes at the southernmost end of Noche Buena in the Central Trend returned excellent gold and silver grades, defining a brand new high-grade shoot that is several hundred meters beyond our October 2024 resource update. Mineralization is at grades and widths indicative of underground expansion potential. And, mineralization remains open at depth and along strike to the south, with strong potential for significant extension via the 2025 drilling currently underway.”

Heliostar CEO, Charles Funk, commented, “At La Colorada, we are seeing the combined benefit of gold production at record prices and growth from the first significant investment into the project in many years. Our aggressive five-rig drill program is designed to increase the reserves of the Creston pit.”

Alamos Gold received SEMARNAT approval for an environmental permit amendment on Jan 29, 2025, allowing construction start on the Puerto Del Aire underground project in Mexico’s Mulatos District. Ramp-up mid-2025; first production mid-2027. Initial capex $165M; avg 127koz Au/year first 4 years at $1,003/oz AISC.

Tocvan Ventures (Jan 22, 2025) announced surface sampling results expanding targets at Gran Pilar Gold-Silver Project, Mexico. Four new targets in Southern Block (1.8×1.0 km) with rock chips up to 3.1 g/t Au and 64 g/t Ag; potential separate epithermal system in North Alteration Zone (3.2×1.5 km). Ongoing core drilling at Main Zone; 2025 plans include trenching, drilling, and pilot facility.