Westridge Resources Inc. announces that the strike length of the high grade epithermal gold and silver El Padre Vein system in the Charay Project in northern Sinaloa State, Mexico has expanded from 240 metres to nearly 1,000 metres through a recent trenching and surface sampling program.
Lone Star Gold, Inc. is pleased to announce that on January 26, 2012, the Company signed a Joint Venture Agreement with the specially formed Mexican subsidiary company, AMIKO KAY, S de RL de CV, and Miguel Jaramillo to process 1.2 million tons of mine tailings at the San Antonio del Potrero mine tailings project. Lone Star acquired an undivided 65% interest in the Tailings Project, which is located in the city of Hidalgo Del Parral in the state of Chihuahua, Mexico.
Vancouver, B.C. – Starcore International Mines Ltd. (the “Company”) is pleased to announce that after payment of the final forward sales contract for the sale of gold at $731 on January 31, 2013, the Company expects to be in a position of generating significant net cash flow. At such point, the Board of Directors anticipates that it will use its surplus funds to expand its exploration and development program to increase reserves at San Martin Mine. The Board also intends to mark the end of its hedge obligations to Investec Bank (U.K.) Limited by declaring dividends to its shareholders in 2013.
GREAT PANTHER SILVER LIMITED advises that R. W. (Bob) Garnett, CA, ICD.D., has been appointed Independent Chairman of the Company’s Board of Directors, replacing Kaare Foy, who has stepped aside after serving more than 18 years as a Director of the Company and almost eight years as Executive Chairman. Mr. Foy will continue as a consultant to the Company.
Newstrike Capital Inc. announces that its wholly-owned Mexican subsidiary, Minera Aurea, has entered into a purchase option agreement for certain privately held land parcels at the Ana Paula Project in Guerrero State, Mexico. The Company will acquire 100% ownership in approximately 935.85 hectares by making staged payments over the next four years for a total of C$983,624 (based on a 13.32 Mexican peso exchange rate the day of signing). This agreement is pending final registration with the Mexican Government.
Lincoln Mining Corporation announces that further to its news release of January 30, 2012, the Company plans to increase its non-brokered private placement to up to 4,666,667 units at a price of $0.075 per unit (“Units”) for total proceeds of up to $350,000. Each Unit will be comprised of one common share of the Company and one half of one non-transferable common share purchase warrant. Each whole purchase warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.10 per share for a period of one year from closing.
Soltoro Ltd. has filed its NI 43-101 resource estimate for its 100% owned El Rayo silver project on SEDAR and made it available on the Company’s website. The report was prepared by Roscoe Postle Associates Inc. The El Rayo property is located approximately 110 km west-northwest of Guadalajara, Jalisco State, Mexico. The NI 43-101 compliant Mineral Resources were estimated by RPA and include an updated estimate for the Las Bolas and Highway Zone structures and an initial estimate for the La Soledad structure.
VANCOUVER, BRITISH COLUMBIA, Feb 02, 2012 (MARKETWIRE via COMTEX) — El Tigre Silver Corp. (“El Tigre” or the “Company”) (otcqx:EGRTF)(frankfurt:5RT) is pleased to announce that it will be applying to the TSX Venture Exchange for approval to the extension of the expiry date of 4,087,569 common share purchase warrants issued on February 11, 2010 from February 11, 2012 to February 11, 2013. These warrants were issued as part of a private placement transaction and are exercisable at $0.60 into 4,087,569 common shares of the Company.
Xtierra Inc. is pleased to provide an update on a drilling programme being carried out on its Bilbao project in the State of Zacatecas, Mexico. The planned 2,500 metre programme comprising six holes of NQ core drilling commenced on November 19, 2011 with a three week break over Christmas. To the end of January 2012, approximately 1,400 metres had been completed in 3 holes with a fourth hole in progress and analytical results received for holes X-96 and X-100.
Orex Minerals Inc. is pleased to announce that it has signed a definitive Association Agreement with Fresnillo Plc to explore and develop as one large project their respective mineral concessions in the Coneto gold-silver mining district in northern Durango State, Mexico.
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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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