Mr. Warren Rehn, President and Chief Executive Officer of Golden Minerals, said; Navegantes is an exciting prospect that hasnt been systematically explored even though it is located in an area of several modern major discoveries. We were pleasantly surprised by the high-grade surface silver assays from heavily weathered and leached veins outcropping on the surface.
States Antonio Berlanga, Telson CEO, In our ongoing quest to maximize the returns from Campo Morado production we are excited to embark on Albion Process testing, an exciting new proven technology, to liberate gold and silver from mines with refractory gold and silver mineralization. If testing proves successful, we intend to fast-track funding the capital costs and installation of the Albion Process recovery equipment and technology during 2019. Thereafter, we believe Campo Morado will transition from predominantly a zinc producer, into a primary precious metal producer with strong base metal by-products which will certainly and positively impact the mines profitability.
Leagold CEO Neil Woodyer commented: As we are nearing the completion of our site-wide studies on options for Los Filos mine expansion, the integration and scheduling of the mining and processing of the four sources of ore is a complex task to optimize. We now have the good problem of re-scheduling to include this significant increase in gold reserves at the Los Filos open pit which will contribute to the production schedule until 2027. This is just one component of the expanded Los Filos mine, and it provides an indication of the expansion potential. We are also completing studies to update the mineral reserves for Los Filos underground and Bermejal open pit, establish an initial mineral reserve for Bermejal underground, and evaluate the increased benefits of constructing a carbon-in-leach plant to improve recovery rates.
Among our mines, Fazenda and Pilar both performed as expected in the quarter. Los Filos production was below expectations in Q3, mainly due to the significant increase in contained gold placed on the pads that has caused recovery delays. With Los Filos production set to increase in the near term, the restart of RDM now scheduled for November 20, and the expected cost savings from optimizations in Brazil, we are looking forward to increased production and cash flow in 2019.
The Company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a-Pique gold mine. in Brazil and the Aranzazu copper-gold-silver mine in Mexico. The Company has completed an exploration program at its Sao Francisco gold mine in Brazil to determine if a re-start of the mine is feasible. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.
The first holes at Manto Negro are giving us a good sense of the style and continuity of copper-silver mineralization, stated Michael McPhie, President & CEO of Prize Mining. Unlike porphyry copper deposits that have a strong vertical component, the stratabound nature of the deposits at Manto Negro gives them a tremendous lateral extent. The two areas being drilled are 18 kilometres apart and, at the Pilar Grande area, we can now trace the mineralization intermittently for about four kilometres. The grades and thicknesses we are seeing are consistent with those from the world class Kupferschiefer deposits in Europe.
Commenting on the transaction, Michael Steinmann, President and Chief Executive Officer of Pan American Silver, said: “The combination of Pan American and Tahoe will establish the world’s premier silver mining company with an industry-leading portfolio of assets, superior growth opportunities and attractive operating margins. This transaction doubles our silver reserves and further improves our cost profile. We will build on that strong foundation, optimizing these high-quality assets to deliver profitable growth and superior returns.”
Galore Resources Inc. is pleased to report that at the Annual and Special General Meeting of its shareholders held November 8, 2018, the Company experienced a very strong turnout of votes. A total of 43 votes were received, representing 68,454,243 shares or 55.86% of the Companys issued share capital. All resolutions proposed and voted on at the meeting were approved and duly passed.
McEwen Mining Inc. has entered into an equity distribution deal with a group of underwriters in connection with a common share offering that could raise up to US$90 million, the company said. McEwen said the agreement, dated November 8, is with an underwriting group that includes UBS Securities, LLC, BMO Capital Markets Corp., Cantor Fitzgerald & Co., Roth Capital Partners LLC, Wainwright & Co., LLC and Alliance Global Partners.
Sonoro Metals Corp., has granted, under its Share Option Plan, incentive stock options to certain directors, officers and consultants of the Company to purchase an aggregate of 1,050,000 common shares exercisable for a period of up to two years from the date of grant at a price of $0.16 per share. This grant is subject to acceptance for filing by the TSX Venture Exchange. Further, a portion of the grant is subject to disinterested shareholder approval and such options will not be exercisable until the requisite shareholder approval has been obtained.
Mexico Mining Center © 2021 / All Rights Reserved
