BACANORA MINERALS LTD. is pleased to provide an update regarding its recent and forthcoming activities at the Sonora Lithium Project in northern Mexico.
Mario Cantu, the economy ministry’s mining chief, said in an interview on Thursday that Mexico’s mining lobby is seeking a series of meetings with members of Congress to also press its case for tax help for the ailing sector.
Quaterra Resources Inc. today announced that Gerald Prosalendis, a current consultant of the Company, has been named President and Chief Operating Officer, effective immediately. To accommodate this appointment, Thomas Patton has resigned as President while retaining the positions of Chairman and Chief Executive Officer.
Pete Dougherty, President and CEO, stated: First quarter 2016 GEO production was in line with guidance at El Castillo, exceeded guidance at La Colorada and showed a 6% improvement over the fourth quarter of 2015 yielding 32,154 GEOs, primarily as a result of increased crusher throughput at La Colorada. As we look toward the second quarter of 2016, we anticipate further advancement in crusher throughput. Moreover, we continue to advance our development projects and capital programs including being on schedule with leach pad construction at La Colorada.
DynaResource, Inc. is pleased to announce that Mineras de DynaResource S.A. de C.V., the 100% owned subsidiary of DynaUSA and the exclusive operator of the San Jose de Gràcia Property in northern Sinaloa, México, is reporting the deliveries for sale, on March 21 and April 11, 2016, of an approximate 700 Oz gold contained in concentrates (exact weights in gold and silver oz. to be determined at final settlement).
The Companys strong performance in the first quarter is primarily due to higher production at the La Encantada and Santa Elena mines, said Keith Neumeyer, President & CEO. Over the past two quarters, our team has been diligently integrating Santa Elenas previous operating systems into the First Majestic operating model and we are seeing increased production and improved efficiencies as a result. Also, at each operation we are achieving great strides due to initiatives put in place and implemented over the past two years.
Orex’s President, Gary Cope says, “The identification of native silver as the predominant silver phase, is exciting news. Drilling continues in Phase-II, with the drill rig currently on hole SA-16 027. We are encouraged that all holes drilled to date have hit the mineralized horizon.”
Alain Charest, Vice President Exploration, Mexico commented, “The Sierra Madre Occidental hosts some of the most important gold-silver deposits in Mexico and Cerro Cascaron shares a similar geological setting as some of these deposits. The mineralization at Cerro Cascaron is abundant and high-grade, and its vertical extent and zonation demonstrate a well-developed system. In addition, local textures suggestive of the higher levels of gold mineralization indicate that significant gold mineralization could lie beneath.”
Northair Silver Corp. is pleased to announce that security holders of Northair have approved the previously announced business combination with Kootenay Silver Inc., to be completed by way of a plan of arrangement, at a special meeting held earlier today. Under the terms of the Arrangement, Kootenay will acquire all the issued and outstanding common shares of Northair in exchange for 0.35 of a common share of Kootenay, plus 0.15 of a warrant to purchase Kootenay common shares at an exercise price of $0.55 for a period of five years from closing, for each Northair share held.
Corex Gold Corp. further to its release of November 2, 2015 wishes to advise that it shall commence a non-brokered private placement of up to 20,000,000 units at a price of CAD$0.05 per unit, for aggregate gross proceeds of up to CDN $1,000,000. Each Unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will be exercisable by the holder to acquire one additional common share at a price of CAD$0.15 for a period of twenty four months following the closing of the financing.
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