Kootenay Silver Inc. is pleased to report that Aztec Minerals Corp. today announced results of 3 additional holes from its phase I drill program totaling 3,000 meters, currently underway at Kootenays Cervantes Project, located in Sonora State, Mexico.
Robert Willis, San Marcos CEO stated; The IP survey has generated a classic textbook porphyry-style geophysical target. These geophysical results add additional support to our theory of significant vertical extent below the large surface footprint. Drill hole collars are expected to be located at or near copper/gold/moly mineralization, which has been locally, identified right at surface. Each new layer of data that has been generated at 1068 has simply strengthened the target potential.
Joey Wilkins, CEO of Aztec, commented: “The first eight drill holes have tested about half of the 750 m long, +0.5 gpt gold soil anomaly at California. Mineralization intersected to date starts at surface in most holes and averages more than 100 m thick.”
Azures Managing Director, Mr Tony Rovira, said the strong investor support had significantly strengthened the balance sheet, and allowed for the continued exploration and development at Oposura and Sara Alicia. I am very pleased with the strong support shown from institutions in North America, Europe and Australia. This heavily oversubscribed placement places Azure in a very strong position moving forward, as we work towards completing development studies at Oposura and fast-track exploration at the Sara Alicia gold and cobalt project. With both zinc and cobalt prices at decade highs, we believe that the Company is ideally placed to accelerate both Oposura and Sara Alicia towards development.
N. Eric Fier, CPG, P.Eng and CEO, remarked, The delivery of this maiden resource estimate is a major milestone for SilverCrest Metals as we continue to systematically expand high-grade mineralization in the district and fast-track the advancement of Las Chispas. In late 2017, we were targeting a total resource number around 40 to 50 million ounces AgEq grading an estimated 500 gpt AgEq but with the recent multiple high-grade intercepts in Area 51, this target has been exceeded. Area 51 (near-surface Babicanora Vein extension) alone has an estimated 32.2 million contained AgEq ounces, grading an impressive 7.43 gpt Au and 469 gpt Ag, or 1,026 gpt AgEq and is open for potential expansion. The Area 51 resource is similar to the 1800s historic production from the adjacent Las Chispas Vein which was approximately 30 million ounce AgEq grading an estimated 15 gpt Au and 1,700 gpt Ag. With continued drilling success, the Company intends to complete an updated resource and plans to prepare a Preliminary Economic Assessment (PEA) in H2 2018. Congratulations to our SilverCrest team, contractors, consultants and associated communities for making this impressive high-grade precious metal discovery and maiden resource possible.
Net proceeds of the Offering will be used for general corporate and working capital purposes and to advance Palamina’s gold projects in south eastern Peru in the Puno Orogenic Gold Belt. All securities issued pursuant to the Offering are subject to a statutory hold period ending June 27, 2018. The Offering is subject to TSX-V acceptance of regulatory filings.
J. Duane Poliquin, Chairman of Almadex, commented, Participation of Newcrest in El Cobre further validates the potential of the district and enables Almadex to conduct the work program at El Cobre which our recent programs have clearly demonstrated is justified. We look forward to working with Newcrest which has extensive experience internationally in similar geological environments as we conduct further exploration at El Cobre.
Westminster Resources Ltd. is pleased to announce that the TSX Venture Exchange has confirmed that Trading will resume at the open. Westminster Resources was halted as part of the acquisition of the Peru Copper projects, which consist of two advanced exploration projects, Ilo Norte and Ilo Este, and a number of nearby extensions and earlier stage targets, totalling 44 concessions covering 36,000 hectares in the coastal copper belt of southern Peru. This region of southern Peru hosts numerous producing copper porphyry and IOCG deposits, with Peru being the third-largest producer of copper. Ilo Norte is an IOCG type deposit that has had significant prior drilling, while Ilo Este is a large copper porphyry system with coincident gold, silver and molybdenum mapped at surface over more than 3 square kilometres.
“The technology described in the patent has potential application for the extraction of cobalt from a range of oxidised or non-sulphide deposits. Cobalt, an essential component of lithium ion batteries, is a core target metal for the commercialisation of our intellectual property and we now have patent protection coverage in Zambia, one of the world’s most prospective countries of patent use,” said Chief Executive Officer Martin Rosser.
DynaResource Inc. and its affiliate DynaResource de México SA de C.V., the 100 percent owner of the San José de Gracia Project in Sinaloa, México, announce that a recent attempt by Goldgroup Resources Inc. to confirm an international arbitration award adverse to DynaResource has been rejected by a United States District Court.
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