Category: Exploration and Development

James Anderson, CEO & Chairman, said, “After over 450 years of near-continuous production as one of the most significant silver mines in world history, the Valenciana Mines Complex retains hundreds of underground pillars that exhibit some of the highest silver grades within the entire Guanajuato mining district. Immediately following our acquisition of Valenciana, we recognized the substantial mineralized potential available to us contained within the old workings that were left behind by previous operators.”

“We see expansion of the Central Area with high-grade mineralization discovered along strike and at depth beyond the current resource pit, with the potential discovery of a new high-grade structure. We are excited by the continued discovery of high-grade areas outside of the MRE that demonstrate the scale of the Los Reyes system with potential to contribute to the global project.”

Kenneth MacLeod, President and CEO of Sonoro, commented, “Targeting the oxide gold mineralization inside the Northwestern Corridors Area is intended to potentially expand the project’s resource. This expansion, along with the planned infill drilling targets at the higher-grade bodies of gold mineralization at El Colorado and Guadalupe vein zones, may enhance the overall economics of the Cerro Caliche project.”

“We stepped out, at depth and along strike, with Hole ET-23-09 and were handsomely rewarded with the best drill hole in the Company’s 55-year history,” said David Wolfin, President and CEO. “The exceptionally wide and very high, silver, gold and copper grades are extremely encouraging for our continued exploration of the Avino vein and associated stockwork and breccia at depth and suggests a much more complex mineralization system.”

“We’re delighted to have rigs turning again on targets arising from our recognition of previously unsuspected gold mineralization in this historically prolific silver district,” said Jorge Ramiro Monroy, CEO of Reyna Silver. “Since we discovered minable widths of high-grade gold last year, we’ve conducted systematic mapping, sampling, structural and geophysical studies that have led to an exciting inventory of new drilling targets.”

Dr. Craig Gibson, President and CEO commented: “Recent assays from trenches have confirmed that the narrow high grade quartz veins defined in surface sampling at Los Pavitos are hosted by wider mineralized structures. This is important because wider zones of gold mineralization near surface could be important for future development of the property. We are looking forward to exploring these mineralized zones by drilling, planned to commence shortly.”

Mike Struthers, CEO, commented, “We are delighted to have accomplished our goal of reaching 500 tpd at Tahuehueto. This achievement is a testament to the dedication and collaborative efforts of our site teams, contractors, management, and staff.”

Ron Goguen, President & CEO of Colibri commented, “Our compilation and interpretation of exploration data covering our “EP” project, consisting of our Evelyn property and the newly acquired Plomo property, has provided the Company with a strong foundation for continued exploration.”

VP Exploration Rob Macdonald stated: “Southern is very encouraged by the results from this most recent metallurgical test program on the CLM Project which will allow the incorporation of +70% recoveries of gold from both oxide and sulphide mineralization into the process flowsheet.”

The initial stage of the planned RC drill program is expected to commence in the 3rd quarter of 2023 utilizing information gathered during the surface roadcut sampling and detailed 1:200 scale geologic mapping program conducted in the first quarter of 2023.