Quaterra Resources Inc. today announced it has retained Sierra Partners LLC of Denver, Colorado, to act as investor relations consultants to the Company, subject to acceptance by the TSX Venture Exchange and the NYSE Amex.
Scorpio Mining Corporation today announced an independent updated Mineral Resource estimate for its 100% owned Nuestra Señora Mine in Sinaloa State, Mexico, completed by Mine Development Associates of Reno, Nevada on behalf of Scorpio Mining. The updated National Instrument 43-101 compliant Mineral Resource estimate was commissioned by Scorpio Mining to allow the Corporation to prepare a development model that allows for better planning, scheduling, and budgeting, taking into account the most recent information available to it and recognizing more appropriately the current understanding of the ore body’s spatial complexity. Scorpio Mining has commissioned MDA to prepare a mine plan based on the resource estimate and other criteria in order to present a reserve estimate which is anticipated around the end of the third quarter or early fourth quarter 2012.
Timmins Gold Corp. is a Canadian based mining and development company with a portfolio of exploration properties in northern Mexico, who also owns and operates the San Francisco mine. Recently GoldSeek.coms President Peter Spina and I visited the companys flagship mine in Sonora State. Peter had previously visited in 2007 soon after their IPO and first drill results were announced. Today the San Francisco gold mine is a state of the art modern open pit and heap leach operation that is on target to produce over 100,000 ounces of gold in 2012, and is undergoing an expansion to produce at least 130,000 ounces in 2013. Their exploration drilling has also increased the total Resource to over 2.92 million ounces of gold, which includes 1.33 million ounces of Reserves.
AuRico Gold Inc. is pleased to provide an update of drilling results from the El Chanate Mine in Sonora, Mexico. Since April 2010, 213 new drill holes for 28,499 metres of drilling (23 drill holes for 5,052 metres since April 8, 2011) have been completed with the objective of converting inferred resources to measured and indicated, extending the deposit at depth to the south and southeast and to explore for extensions to the west and east of the present open pit. Results to date have delineated thick zones of continuous mineralization throughout the deposit and defined anomalous mineralization both east and south of the existing open pit (refer to Table 1 in the Appendix for selected drilling results).
Endeavour Silver Corp. and AuRico Gold Inc. announce that they have agreed to extend closing of the purchase/sale of the El Cubo mine in Guanajuato State, Mexico and the Guadalupe y Calvo property in Chihuahua State, Mexico to July 13, 2012.
Skeena Resources Limited has arranged a one-year, non-interest bearing loan of $200,000 from a director of the Company. The funds will be used for completion of a bench-scale metallurgical investigation of its Tropico copper-platinum-palladium-gold Project in Sinaloa State, Mexico, and for general corporate purposes. Subject to Exchange approval, the director will be issued a total of 500,000 shares (with a hold period of 4 months) as a bonus for making the loan.
Blue Sky Uranium Corp. and Windstorm Resources Inc. are pleased to announce that, at the special meeting held June 28, 2012, Windstorm received the necessary shareholder approval of the plan of arrangement pursuant to which Blue Sky will acquire all of the outstanding common shares of Windstorm and Windstorm will become a wholly-owned subsidiary of Blue Sky.
Southridge Enterprises Inc. is pleased to announce that Southridge Minerals, Inc., its wholly owned subsidiary, today has executed an agreement with Duvernoi Capital Investments Inc. providing for a $3,500,000 financing. This financing is in the form of a convertible debenture with terms stipulating an interest rate of 8.8% and a loan repayment term of 32 months from the date of execution of the agreement, by way of cash or through the conversion of shares of Southridge stock. The repayment terms of the financing are amenable to the Company’s property development schedule and to future financings plans to retire the debt.
Golden Goliath Resources is pleased to provide an update of developments on their extensive exploration portfolio in the Uruachic Mining District in the Sierra Madre Gold-Silver Belt of northwest Mexico. The Uruachic Mining District hosts the recently discovered Orisyvo deposit, a 9.6 million ounce gold deposit currently being explored and developed by Fresnillo PLC, one of the world’s largest mining companies.
Victory Resources Corp. is pleased to announce that it has entered into an agreement with GEM Global Yield Fund Limited for a $5.0 million CDN financing commitment. Funds raised through this facility will be used for the ongoing drill program and the subsequent engineering work to bring the Reforma mine to feasibility. Funds will also be used for the development of the Company’s recently optioned Boleo property in Mexico, the Toni property located near Merritt, B.C., as well as general working capital.
Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
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