BACANORA MINERALS LTD., the Canadian and London listed company focused on developing the Sonora Lithium Project in Mexico into a world class lithium carbonate operation, announces that it is continuing to develop a long term marketing relationship and off-take strategy and is now in advanced discussions with a significant Asian offtake partner for the supply of battery grade lithium carbonate (Li2CO3).
New Gold Inc. is pleased to announce that Hannes Portmann has been named President of New Gold. Randall Oliphant will continue in his role of Executive Chairman and Brian Penny will continue as Executive Vice President and Chief Financial Officer. David Schummer, Executive Vice President and Chief Operating Officer, is leaving New Gold and Raymond Threlkeld, currently a member of the company’s Board of Directors, will become Interim Chief Operating Officer.
Kootenay Silver Inc. announces it has completed 7 holes along the Soledad Structure before the Christmas break. Drilling will recommence in January and results will be reported when received and compiled. This is the 18th hole of the current program with 11 of these holes drilled in to the Ram structure resulting in a new drill discovery.
Arian Silver Corporation is pleased to announce that further to the Companys press release dated 27 October 2016 regarding the extension of the exclusivity agreement with Tierra Nuevo Mining Ltd over the Noche Buena gold and silver tailings project in Mexico, the period of exclusivity has been extended by a further 60 days to 25 February 2017 at no additional cost whilst the final results of metallurgical testwork are awaited.
Mexus Gold US CEO/ President Paul Thompson visited the Santa Elena mine in Sonora State Mexico from December 13th through the 17th. Mr. Thompson reports that the Merrill Crowe is being installed and will be operational in January 2017.
Azure Minerals reports that it has been advised by Minera Teck S.A. de C.V., ultimately a 100% owned subsidiary of Teck Resources Limited, Canadas largest diversified resource company, that Teck intends to exercise its right to earn back an ownership interest in the Alacrán Project in Mexico.
GoGold Resources Inc. is pleased to announce the release of financial results for the quarter and year ending September 30, 2016 with an operating income of $943,000 for the year (All amounts are in U.S. dollars). GoGold recorded revenue of $16.7 million from the sale of 640,121 silver ounces and 5,533 gold ounces during the year.
Red Tiger Mining Inc. announces that it has ceased mining operations at Luz del Cobre copper mine. The Company has made this decision after completing an infill drilling program designed to better delineate the oxide-sulphide copper boundary in North and South pits.
Pete Dougherty, President & CEO stated: We are disappointed with SEMARNATs decision. We will review the factors that led to this decision and determine a path to move this project forward. San Antonio is a project that can have significant benefits to the local and regional economy and also provide important positive impacts to the environment. Our plan calls for a modern approach to mining including cleaning up historical overburden stockpiles and tailings and working to improve the local aquifer. We continue to believe that San Antonio remains one of the best undeveloped projects in the sector and we will continue to seek ways to unlock the benefits and value of this project for the local communities and for our shareholders.
Performing additional metallurgical testing at Santa Maria, prior to completing an updated resource estimate and issuing a Preliminary Economic Assessment in the first quarter 2017 Completed a 2,080-meter drill program at the Rodeo project during the fourth quarter 2016; results to date are encouraging and a resource estimate is in preparation for release in Q1 2017 Lease of Velardena’s oxide mill to Hecla Mining continues to perform as expected, with net cash of $4.5 million expected for the full year 2016; Hecla has exercised its option to lease the mill through mid-2017 and has the right to extend the lease through 2018
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