International Northair Mines Ltd. is pleased to announce that its wholly-owned subsidiary, Grupo Northair de Mexico, S.A. de C.V., has agreed to terms on an important access agreement at its La Cigarra silver project, located in Chihuahua State, Mexico.
Mexus Enterprise heap leaching continues to produce gold. Our RC drilling program on the newly acquired San Felix is going as planned with 5 holes completed with near surface intercepts from 78′ to 126′ thick mineralized zones found, the drilling will continue. The San Felix mine is known to have been mined underground by the Spaniards some 350 years ago to a depth of 300′. Some of the old workings are open today. Up until recent times, mining anything under two ounces per ton was not considered economically feasible. Mexus will use contract miners that already have the necessary equipment needed to mine 6000 tons a day. Recent assay show 0.300 to 11.430 grams per ton gold and 18.16 grams per ton silver with an average of 2 grams per ton gold. Although our drilling shows great potential, Mexus is considering all options at this time.
MAG Silver Corp. announces that its joint venture partner and project operator, Fresnillo plc, has commenced underground development at the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. Portal area preparation is in the final stages of completion and a continuous miner is planned to start excavating the uppermost part of the access ramp (see photo below). The initiation of underground work follows a year of engineering, hydrological and environmental studies in support of required permits, all of which are now in hand. The underground work is being carried out under a previously approved initial development budget that includes the commencement of the first 2,500 metres of ramp advancement. The Juanicipio Project is held in Minera Juanicipio S.A. de C.V. (“Minera Juanicipio”), a Mexican joint venture company owned 44% by MAG and 56% by Fresnillo.
Tonogold Resources, Inc. is pleased to announce that it has today entered into an exclusive option agreement with Mil-Ler Resources and Energy SA a private Mexican mining and exploration company to acquire up to 34% equity interest in MIL-LER in two tranches of $5 million each for a total investment of up to $10 million.
Amarium Technologies Inc., through its wholly owned subsidiary Amarium Minerals Inc., reports that the Company has scheduled additional copper shipments to the Asian market, due to increased sales orders from Anglo-Asia Resource Partners. Amarium is currently organizing shipping and production schedules at both the Jovita and San Pedro Mine facilities to ensure the Company successfully fulfills the new sales orders. Anglo-Asia Resource Partners is a private Hong Kong partnership that is focused on procuring precious and base metals for the Asian market’s manufacturing and industrial supply chain.
Freyja Resources Inc. is pleased to announce that it has acquired one-hundred percent (100%) of the issued and outstanding common shares in the capital of Cyprium Mining Corporation, a junior mining company which targets the acquisition and generation of mining projects located solely in Northern Mexico that have the potential for profitable precious and base metal open pit production. For further details regarding the Transaction, please see Freyja’s press releases dated June 18, 2013, August 1, 2013, August 9, 2013, September 9, 2013, September 18, 2013 and September 30, 2013.
Until a few months ago, Mexico was one of the rare countries left in the world that didnt charge taxes on mining production or profits. But a proposed 7.5% tax on resource companies, and as much as 8% for gold, silver and platinum miners, is scaring investors and small players away.
Scorpio Mining Corporation today announced the resignation of Mr. Thomas (Tom) McGrail from the position of Chief Operating Officer, effective November 1, 2013. Mr. McGrail, who was based in Cosalá, Mexico, has tendered his resignation in order to attend to pressing family matters which will require more of his time to be spent at home with his family.
Mammoth Resources Corp. is pleased to announcethat is has begun a ground Induced Polarization (IP) and Magnetometer(Mag) geophysical survey over select areas of the company’s Tenoribaproperty, located in the prolific Sierra Madre precious metal belt insouth western Chihuahua state, Mexico.
Alta Vista Ventures Ltd. is pleased to announce that it has signed a Letter of Intent with Tosca Mining allowing Tosca to acquire a 100% interest in the Carol Property located in southern Sonora State, Mexico.
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