Jim Williams, Chief Executive Officer of Arian Silver, commented, this additional capital can be immediately deployed to extend the exploration of the three lithium projects over which we have an option to acquire, and also to seek additional projects in the vicinity which we believe could host significant deposits of lithium.
Leagold Mining Corporation is pleased to announce it has received Mexican anti-trust commission approval with respect to the previously announced US$29 million subscription receipt financing provided by a fund managed by Orion Resource Partners in connection with the Companys acquisition of the Los Filos Mine from Goldcorp Inc. on April 7, 2017. To accommodate COFECE requirements, when acquiring the Los Filos Mine, Orions US$50 million equity investment in Leagold on April 7, 2017 was split into US$21 million in common shares of Leagold and US$29 million in subscription receipts, with each subscription receipt automatically converting into one common share on receipt of the COFECE approval, without payment of additional consideration. In connection with the acquisition of the Los Filos Mine, Goldcorp Inc. agreed to defer US$29 million of the US$279 million cash portion of the purchase price by accepting a short-term promissory note from Leagold.
Harvest Golds President and CEO Rick Mark states: We are very pleased that the Evrim team has literally hit the ground running and that Phase 1 is underway. As well, our geological team has now reviewed all historical data on the project and have identified at least six areas for follow-up. Todays release provides investors more detail on these targets.
Brian Robertson, President & CEO, stated The mineralization controls at Las Minas are similar to the Guerrero Gold belt, which is the site of the Los Filos and Morelos gold deposits. In both areas, the high gold values are associated with intrusive hosted systems, with initial high magnetite/hematite fluid flows mobilizing the gold mineralization, followed by later stage precipitation of the magnetite. We anticipate that the ground magnetic geophysical survey will identify potential gold/magnetite extensions to the highgrade mineralization intersected in step-out hole LM-17-CS-04 as well as elsewhere at Cinco Senores.
Endeavour CEO Bradford Cooke commented, Our second quarter production was an improvement over the first quarter thanks to higher tonnes and/or grades from the Bolañitos and El Cubo mines. Both mines are now performing in line with their operating plans for the year. The Guanaceví mine continues to lag behind plan and an internal review has been initiated in order to identify additional actions needed to improve tonnes and/or grades and production…
“All three of our mines produced according to plan in the second quarter,” said Darren Pylot, President and CEO of Capstone. ” Pinto Valley set new quarterly, monthly and daily throughput records after returning to full operations from the heavy rain and maintenance activities early in the year.”
During the quarter, silver production was impacted by unusual efforts by unionized workers to illegally disrupt mining activities which caused minor stoppages at La Parrilla, Santa Elena and a more serious stoppage at our La Encantada operation, said Keith Neumeyer, President & CEO. Pointing to a specific cause is difficult whether due to higher gasoline prices or higher taxes in Mexico but worker dissatisfaction among union employees throughout the Mexican mining industry is at the highest levels witnessed in the Companys fifteen year history.
Allan Barry Laboucan, President and CEO of Alset said: Management has been impressed with the success we have had with the exploration of our original group of salars. As previously reported from the work on our original group of salars we have found high-grade lithium-potassium in some of those salars, they are in a mining friendly jurisdiction with excellent infrastructure. Alset currently has a large number of brine and soil samples being processed, the company decided that this would be an appropriate time to acquire further salars in the area. We are fortunate to be involved in a sector that will be crucial for the energy industry with lithium needed for energy storage and having the bonus of potassium crucial for the production of fertilizers needed for farming in Mexico. With our new acquisitions, we will have a 100% interest in a group of salars that span an entire province.
Robert Macdonald, Vice President of Exploration stated The identification of such a thick interval of new copper-enriched mineralization in hole 17CLM-098 is tremendously encouraging and continues to further highlight the potential to both expand the current and develop new mineral resources on the margin of the Central Intrusion.
The program, operated by Pan American, will total approximately 4,055 meters of core drilling over 25 holes. Drilling will focus on brownfield targets and consist of primarily infill drilling as well as step out holes to depth.
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