Glenn Jessome, President and CEO of Oceanus reports, The high-grade gold-silver-base metal mineralization in the Caleigh Vein is an exciting new discovery on the El Tigre property. Our exploration team is mapping and sampling the underground exploration tunnels in advance of drilling the new/y discovered Caleigh Vein and the Protectora Vein.
Endeavour Silver Corp. announces the appointment of Andrew Sharp as its new Vice President, Engineering to lead the Companys new Technical Services and Mine Development Group.Mr. Sharp, B.Eng., FAusIMM., is a professional engineer with 30 years of experience in the mining industry, is fluent in Spanish and has worked many years in Mexico. He brings to Endeavour a wealth of experience in executive and mine management, mine planning and operations, mine startups and turnarounds, mine evaluations and feasibility studies, mine permitting and government relations.
“Although we saw an improvement in operations at Black Fox during the second quarter of 2017, the strike action at San Dimas early in the quarter followed by further labour disruptions have weighed on the Company,” said Joseph F. Conway, Interim President and Chief Executive Officer. “I am pleased that we will reduce our total outstanding debt with the sale of the Black Fox mine. However, we still have outstanding debt that matures in November 2017, that will require additional funding or refinancing to repay in full. We have made progress with the Mexican tax authority and have started receiving VAT refund instalments, which has helped to improve our financial position.”
Fred Stanford, President & CEO of Torex stated: Q2, 2017 was an excellent operating quarter, with significant progress made in the ramp-up of the operations. The processing plant team increased throughput by 26% over Q1, and effectively achieved design throughput levels in June. The mining team increased production by 30% over Q1. Operating costs per tonne were within 2% of target and recoveries at 86%, were consistent with design expectations at the grade processed….”
Santacruz Silver Mining Ltd. announces, further to its news release of August 8, 2017, that it has settled the outstanding balance owing on certain of the claims included in the Gavilanes Project by making a cash payment of US$500,000 and issuing 1,250,000 common shares of Santacruz, plus applicable value added taxes, to the property vendor. The shares are subject to a hold period and may not be traded until December 11, 2017 except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.
“Pan American operations generated strong earnings in the quarter on revenues that topped $200 million. Silver production is on pace to achieve our annual targeted range, while costs are tracking well below. We have now reduced our estimate for cash costs and AISCSOS in 2017 by 14% and 10%, respectively, from the mid-point of our original guidance,” said Michael Steinmann, President and Chief Executive Officer of the Company. “The longer term outlook for operations is also encouraging with excellent progress on our mine expansions in Mexico and our two new projects in Argentina. Throughput at La Colorada achieved design rates of 1,800 tonnes per day in June, six months ahead of plan. At Dolores, commissioning of the new pulp agglomeration plant has begun and the underground mine has been delivering low-grade development muck to the heap. As we saw during Q2 with La Colorada, these expansions improve our operating margins through growth in low-cost production.”
Colibri now owns 100% of the right, title and interest in Minera Bestep S.A. de C.V., a private Mexican company. Bestep holds 100% of the right, title and interest in the Pilar Gold Project and the Sun Project. Both properties are located near Suaqui Grande, Sonora, Mexico and neither property is subject to any royalties or encumbrances. The Pilar Property is 105 hectares in size and the Sun Property is 110 hectares in size. A report on the Pilar Gold Project prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects has been prepared by Jamie Lavigne M.Sc., P.Geo, a Qualified Person under NI 43-101 and independent of the Pilar Gold Project. The Sun Project has been subject to preliminary exploration work. The NI 43-101 Report is available on SEDAR.
The Company had a strong second quarter, generating net income and strong operating cash flow from our operations despite low silver prices, said Americas Silver Corporation President and CEO Darren Blasutti. We expect Nuestra Senora to continue producing until the end of the third quarter while San Rafael transitions from a development project into a producing mine in the fourth quarter. Fiscal 2018 is shaping up to be the most exciting year in the Companys history as San Rafael commences commercial production.
Allan Barry Laboucan, President and CEO of Alset said: This program at La Salada was the first chance for Alset to carry out a significant drill program to get a better understanding of the chemical compositions in the near surface brines as well as soils down to an average of 14 metres. An important attribute of our salars that became very clear was the cost of exploration compared to similar work in remote locations. We are experiencing the benefits of good roads and power that will continue to enhance the project as we move forward to do more testing to better understand the potential of La Salada and our other salars. In the event of a mine being built the infrastructure will continue to enhance the economic potential.”
Bob Willis, San Marcos CEO stated, Our core drilling, the first on the property, has allowed us to recognize a new Intrusive related gold breccia system, the magnitude of which is unknown at this time. The area will be remapped to determine the surface extent of the breccia. Our widely spaced Phase I drill holes indicate the breccia is open to depth and laterally in all directions. While we need to understand zoning and other possible controls on gold emplacement in order to target the best areas in future drilling, we are highly encouraged that most core containing breccia assayed to date exhibits at least anomalous (greater than 50 ppb) gold values. It will be exciting times as we work to define the magnitude of the system, refine and better understand the geological model and locate zones of mineralization with economic interest. San Marco is taking this discovery very seriously and has engaged a team of experts who will immediately create and execute an aggressive exploration program. We are targeting mid-September for the completion of a definitive go forward plan.
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