San Marco Resources Inc. announces that results from ongoing geological mapping and prospecting have confirmed and expanded the size potential of Target #1068 in Sonora State, Mexico, elevating the target to project status.
Congratulations to Dean on receiving this prestigious award, said Phillips S. Baker, Jr., President and CEO. We believe the largest risk to mining companies today is the ability to replace reserves. Dean and his exploration team have been instrumental in Hecla maintaining its strong and growing reserve and resource profile over the past 10 years; as we added 299 million silver ounces to reserves despite price volatility and the recent trend in the industry of declining reserves.
Canasil Resources Inc. announces assay results for drill holes ES-17-18 and ES-17-19 of the 2016-17 core drilling program at the La Esperanza silver-zinc-lead project in Durango and Zacatecas States, Mexico. Both drill holes intersected wide mineralized intervals with multiple silver-zinc-lead intercepts, with appreciable gold values in ES-17-19, reporting high-grade intervals from the La Esperanza vein. These holes now complete the current drill program, which was expanded to eight drill holes for a total of 2,452 metres (m). All drill holes successfully intersected the La Esperanza vein indicating a strong mineralized system which remains open in both directions to the southeast and northwest along strike and to depth. Of particular note are the high gold grades observed for the first time together with high silver grades in drill hole ES-17-19.
“The year 2016 was focused primarily on the re-structuring of the Company’s balance sheet,” said Arturo Préstamo, President and CEO. “With management’s plan to focus on the producing assets, we have executed on our plan to divest non-core assets and move forward with our production plans accordingly.”
Scott Perry CEO of Centerra Gold stated, “While the Company had a good quarter operationally and financially, it was over shadowed by a tragic event which occurred in April at Kumtor when an employee was fatally injured while inspecting a light vehicle in the field. This tragedy reinforces our commitment to our Company-wide safety leadership program ‘Work Safe, Home Safe’ which we continue to roll out to all our sites.
Paul Benson, President and CEO said, “Our exploration programs at Marigold and Seabee continue to deliver positive results that demonstrate resource growth potential. We were pleased with the significant increase in Mineral Reserves at both operations at the end of 2016 and are confident that our exploration activities this year, supported by strong in-house expertise and expenditures of $5 million at each mine, will once again have a positive impact on our year-end Mineral Reserves. Brownfields exploration is a key aspect of our strategy to extend the life of our operations and create long term shareholder value.”
The delay is due to the departure of key personnel involved in the preparation of the audited consolidated financial statements. The Company is working to complete the audit of the Company’s consolidated financial statements for the year ended December 31, 2016 as soon as possible and anticipates filing such financial statements, MD&A and related Certifications by the end of May, 2017.
Lithium Australia Managing director Adrian Griffin stated: These results are a great start to our metallurgical evaluation program and clearly show the potential to produce a valuable concentrate from the host volcanogenic sediments. The acid solubility of the lithium is of greater importance. The ability to leach the lithium in very short periods of time, at ambient temperature, and without the requirement of pre-treatment may have profound effects on the economics of Agua Fria, the next major lithium clay deposit.
Akiba Leisman, Executive Chairman and Interim CEO states that, 2016 was a tale of two mines for Marlin. For the first three quarters of the year, our operating team led by Jesse Muñoz, was focused on waste removal to access the high grade HS Zone at La Trinidad. As a result of their skill and dedication we began mining the HS Zone in September, which has allowed the Company to de-lever the balance sheet, invest in exploration at both our properties, acquire all necessary land at Commonwealth to fully consolidate the district, and advance our royalty business such that we expect to spin off Sailfish Royalty Corp. to shareholders this year. Since mining the north part of the HS Zone, we have been able to finally show just how profitable La Trinidad can be. With the southern part of the HS Zone coming online at the end of the second quarter of 2017, and exploration success in Mexico and Arizona indicating longevity at both assets, we feel that there is plenty more of this to come.
CEO John Lawrence said We are excited to start the Los Juarez gold, silver, and antimony pilot production. We are optimistic about further progress at Los Juarez and believe it could be a major event for shareholders. In addition, we remain focused on increasing Mexican antimony production and BRZ zeolite sales.
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