Ridgestone Mining Inc. is pleased to announce that it has established a 100% owned Mexican subsidiary, Cerro de Oro Minerales S.A. de C.V., to facilitate its mineral exploration and development activities in Mexico.
Goldplay President and CEO Marcio Fonseca commented, “Goldplay’s systematic sampling of 22 existing core drill holes (previously only partially sampled) is aimed at expanding resources and delineating mineralized zones to support a high-grade bulk mineable open pit target at the San Marcial Project. We also expect to complete a detailed 3D geological and silver mineralization model. The core reviewed to date reveals a structurally controlled mineralized system, with silver mineralization associated with significant concentrations of lead, zinc and gold, hosted by hydrothermal breccias and fault zones.”
Sable Resources Ltd is pleased to inform that the company has received all necessary permitting required to drill the Don Julio High-Sulphidation Gold Project located in San Juan Province, Argentina. Don Julio contains the first 5 targets of 15 identified in the 35,000ha San Juan Regional exploration program. Sable has engaged a civil engineering consultancy to assist with road and drill platform design and has conducted site visits with several drilling companies experienced in Andean projects. Road and drill platform construction is scheduled to begin following the end of the southern hemisphere winter in September 2018 with drilling to begin in October 2018. Drilling will target mineralisation at depth below the 2 by 2km Esperanza and 2km by 500m Heaven Hill gold anomalies. Don Julio will be the second project drilled by Sable this year after the recent Margarita discovery in Mexico.
Oroco Resource Corp. purchase from John C. Thornton, former Vice-President – Engineering of Mintec, Inc., historical technical information and data related to the Santo Tomas mineral deposit. Prepared by E.L. Bateman Engineering Company, Mountain States Research & Development International Inc., Mintec, Inc. and John Thornton, the data includes drill hole assays and associated interpreted sections, drilling, composite and digital models and reports dated from 1992 to 2011. Mr. Thornton and Mintec, Inc. have maintained custodial status of the data throughout that period and until present day.
Sampling Highlights Include 260 gpt Gold, 328 gpt Silver, 3% Lead and 2.6% Zinc. Prospecting by the Company on Malé has outlined numerous zones of anomalous gold mineralization. Of the 426 predominately grab samples taken by Kootenay from old pits and hand-dug small trenches, thirty samples analyzed gold values greater than 10 g/t, highlighted by individual samples returning 260.0 gpt, 85.5 gpt, 81.2 gpt and 53.4 gpt gold.
Telson Mining Corporation management is aware of the recent decline in its share price and knows of no operational reason for this decline. Management would like to reassure investors and shareholders that day to day operations at both the Campo Morado Mine and the Tahuehueto Project continue as normal.
Leagold CEO Neil Woodyer commented: We are pleased to have completed the acquisition of Brio Gold, and we are now focused on using our experienced operations team to identify and implement short- and long-term optimizations at each of the mines. We are also reorienting each of the mines in Brazil into individual profit centres. Some of these changes will take time to deliver results.”
As a result of the sale of Santa Gertrudis in November 2017 the companys working capital has improved by $50.9 million to $40.6 million during fiscal 2018. Shareholders equity has also improved by $39.4 million to $127.2 million during the year. The Company remains in strong financial condition with $11.9 million in cash, a royalty on Santa Gertrudis that management believes could be sold for $12-15 million, inventory stacked on the heap leach pad with recoverable metal worth approximately $40 million, and no debt. In addition to the strong balance sheet, Parral is generating earnings before interest, taxes, and depreciation and has a mine life of approximately 10 years.
Silver Vipers President and CEO Steve Cope states, We are very excited to begin our first phase drilling program on the La Virginia Project. This asset has produced some fantastic results in the past and we look forward to continuing on that success. There is the potential here to both grow the existing mineralized zones, as well as the potential for new discoveries.
“The 14m intercept in drillhole M-DDH-18-08 represents our widest intersection to date with consistent average grades in excess of 400 grams per tonne silver equivalent”, commented Ruben Padilla, VP Exploration of Sable Resources. “We are also greatly encouraged by gold values in these holes up to 3g/t coincident with high base metal values with zinc to 4.5% and lead to 2.4%. Sable now has five holes into the Margarita structure with a weighted average grade of 420g/t AgEq over an average width of 8.6m, and a confirmed strike length of 500m down to 80m depth from surface.”
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